Payment Limits definition

Payment Limits. Provision Maximum Purchase Payments -- The maximum total contract purchase payments may not exceed the amounts shown under Contract Data. We reserve the right to increase the maximums. Additional Purchase Payments -- You may make additional purchase payments of at least $100. In addition, if this is an IRA contract, except as otherwise provided in this paragraph, the total purchase payments for any taxable year may not exceed $2,000 or as otherwise provided in the Code and all related laws and regulations which are in effect during the term of this contract. In the case of a rollover contribution described in Sections 402(c), 403(a)(4), 403(b)(8) or 408(d)(3) of the Code, there is no limit on the amount of your purchase payment. No contribution will be accepted under a SIMPLE plan established by any employer pursuant to Code Section 408(p). No transfer or rollover of funds attributable to contributions made by a particular employer under its SIMPLE plan will be accepted from a SIMPLE IRA prior to the expiration of the two-year period beginning on the date the individual first participated in that employer's SIMPLE plan. You shall have the sole responsibility for determining whether purchase payments meet applicable income tax requirements. All purchase payments must be made in cash. If you die before the entire interest in this contract has been distributed to you, and your beneficiary is other than your surviving spouse, no additional purchase payments will be accepted from your beneficiary under this contract. Allocation of Purchase Payments You instruct us on how you want your purchase payments allocated among the fixed account and variable subaccounts. Your choice for the fixed account and each variable subaccount may be made in any whole percent from 0% to 100%. Your allocation instructions as of the contract date are shown under Contract Data. We reserve the right to limit the maximum number of accounts and/or subaccounts to which you can allocate purchase payments or contract value at any time. By written request, or by another method agreed to by us, you may change your choice of accounts or percentages. The first net purchase payment will be allocated as of the end of the valuation period during which we make an affirmative decision to issue this contract. Net purchase payments after the first will be allocated as of the end of the valuation period during which we receive the payment at our administrative office. Contract Value Contract Value The ...
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Payment Limits. Provision Maximum Purchase Payments - The maximum total contract purchase payments may not exceed the amounts shown under Contract Data. We reserve the right to increase the maximums. Additional Purchase Payments - You may make additional purchase payments of at least $500. All purchase payments must be made in cash. If you die before the entire interest in this contract has been distributed to you, and your beneficiary is other than your surviving spouse, no additional purchase payments will be accepted from your beneficiary under this contract. Allocation of Purchase Payments You instruct us on how you want your purchase payments allocated among the fixed account and variable subaccounts. Your choice for the fixed account and each variable subaccount may be made in any whole percent from 0% to 100%. No allocation may be made that would result in a fixed account or variable subaccount value of less than $500. Your allocation instructions as of the contract date are shown under Contract Data. By written request, or by another method agreed to by us, you may change your choice of accounts or percentages. Net purchase payments will be allocated as of the end of the valuation period during which we receive the payment at our home office.
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Payment Limits. Provision Maximum Purchase Payments - The maximum purchase payments in the first or later contract years may not exceed the amounts shown under Contract Data. Additional Purchase Payments -- You may make additional purchase payments of at least the amount shown under Contract Data. Allocation of Purchase Payments In most cases, you request, in whole percentages from 0% to 100%, how you want your purchase payments allocated among the Fixed Account and variable subaccounts. The amount of your purchase payments you may allocate to the Fixed Account is limited as shown under Contract Data. We reserve the right to decrease the allowable Fixed Account Purchase Payment percentage limits from those shown under Contract Data. We will provide 30 days advance written notification if we do so, and will notify you in writing when the restrictions are lifted. Allocations to certain accounts or subaccounts may be limited or required under the terms of certain optional benefit riders, if any, attached to this contract. Your allocations as of the contract date are shown under Contract Data. Unless any restrictions apply, you may, by written request, or other method agreed to by us, change your choice of accounts or percentages. The first net purchase payment will be allocated as of the end of the valuation period during which we make an affirmative decision to issue this contract. Net purchase payments after the first will be allocated as of the end of the valuation period during which we receive the payment at our home office.
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Examples of Payment Limits in a sentence

  • It also amends the Payment Limits provision to restrict payments after the first contract year to an amount less than Maximum Purchase Payments Permitted, shown under Contract Data.

  • If Payments will be paid from different sources, we will accept multiple Payments subject to the Payment Limits identified in the Specifications Page.

  • Payment Limits The Initial Payment is shown on the Specifications Pages.

  • The specific Total Payment Limits and Maximum Certificate Coverage limits for each certificate are set forth below.

  • Subject to the Payment Limits Provision you may: (1) stop and/or restart purchase payments; or (2) increase or decrease the amount of your purchase payments; or (3) change the interval of your purchase payments.

  • ADDITIONAL PURCHASE PAYMENTS Subject to the Payment Limits provision below, additional purchase payments may be made until the earlier of: 1.

  • Payment Limits on Farm Commodity Programs Current lawSource: CRS.

  • Negotiations under this subsection shall be con- cerned solely with the deduction of dues of the labor organization from the salary of the indi- viduals who are members of the labor organiza- tion and who make a voluntary allotment for that purpose.

  • Annual Debt Payment Limits -- To maintain the City's credit rating and expenditure flexibility, the annual debt service payments the City must make on net direct long term general obligation debt shall not exceed 10% of operating revenue.

  • For Method I patients, the A/B MAC (A) pays the facility per one mcg of Aranesp administered, in accordance with the MMA Drug Payment Limits Pricing File rounded up to the next highest whole mcg.


More Definitions of Payment Limits

Payment Limits. Provision Maximum Purchase Payments -- The maximum total contract purchase payments may not exceed the amounts shown under Contract Data. We reserve the right to increase the maximums. Additional Purchase Payments -- You may make additional purchase payments of at least the amount shown under Contract Data. Allocation of Purchase Payments In most cases, you request, in whole percentages from 0% to 100%, how you want your purchase payments allocated among the Guarantee Period Accounts and variable subaccounts. We reserve the right to limit the accounts and/or subaccounts to which you can allocate purchase payments or contract value at any time. In addition, allocations to certain accounts or subaccounts may be limited or required under the terms of certain optional benefit riders, if any, attached to this contract. Your allocations as of the contract date are shown under Contract Data. Unless any restrictions apply, you may, by written request, or other method agreed to by us, change your choice of accounts or percentages. The first purchase payment will be allocated as of the end of the valuation period during which we make an affirmative decision to issue this contract. Purchase payments after the first will be allocated as of the end of the valuation period during which we receive the payment at our administrative office. Purchase Payment Credits If shown under Contract Data, we may apply an additional purchase payment credit to your contract value for applicable net purchase payments you make to this contract. The purchase payment credit is a percentage of such net purchase payment which is the purchase payment less the amount of partial withdrawals that exceed all prior purchase payments. The percentage depends on the amount of cumulative purchase payments under the contract less partial withdrawals as shown under Contract Data. If an additional purchase payment causes the contract as a whole to be eligible for a greater percentage credit, an additional credit on prior purchase payments, less any partial withdrawals, will be allocated on the date of the additional purchase payment. Such additional credit is calculated to bring the credit percentage on all prior net purchase payments to the current level. Purchase payment credits will be allocated to the contract value according to your then-existing purchase payment allocation instructions. Any partial withdrawal reduces the cumulative net purchase payments used as the basis of the credits on a last-in...
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Payment Limits means maximum sums which can be transferred from Bank Products by the Client on the basis of Payment Order by means of Internet Banking and/or Phone Banking and/or Payment Initiation Service during the determined period of time.
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Payment Limits. Provision Minimum Purchase Payments - The minimum initial purchase payment for certificates is $2,000 (for non-qualified) or $1,000 (for IRA, SEP/IRA unless the certificateholder agrees to establish a bank authorization for at least $100 per month which on an annualized basis, equals $1,200. Maximum Purchase Payments - The maximum total purchase payments for a certificate in the first certificate year is $1,000,000 for ages up to Age 75 or $500,000 for ages 76-85. The Maximum purchase payment in the second or later certificate years is $50,000 per year. Additional Purchase Payments - The owner may make additional purchase payments of at least $100 per month. IRA certificate purchase payments must be: - Active IRA contributions. Active IRA contributions are described in Code Sections 408(b)(2) and 219 and generally may not exceed $2,000 for any taxable year except for the permissible $2,250 contribution of an individual with a non- working spouse; or - Rollover or transfer IRA contributions of accumulated past active IRA contributions. Rollover IRA contributions are described in Code Section 408(d)(3); or
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Payment Limits. Provision Maximum Purchase Payments - The maximum total contract purchase payments may not exceed the amounts shown under Contract Data. We reserve the right to increase the maximums. Additional Purchase Payments - You may make additional purchase payments of at least $50. In addition, if this is an XXX contract, except as otherwise provided in this paragraph, the total purchase payments for any taxable year may not exceed $2,000 or as otherwise provided in the Code and all related laws and regulations which are in effect during the term of this contract. In the case of a rollover contribution described in Sections 402(c), 403(a)(4), 403(b)(8), or, 408(d)(3) of the Code, there is no limit on the amount of your purchase payment. All purchase payments must be made in cash. If you die before the entire interest in this contract has been distributed to you, and your beneficiary is other than your surviving spouse, no additional purchase payments will be accepted from your beneficiary under this contract. Cancellation We reserve the right to cancel this contract if all the following conditions exist at the same time:
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Payment Limits. For security reasons, there are limits on the amount of money you can send through the U.S. Bank Pay A Person service. You will be notified of the limits in effect in the user interface at the time you initiate a transaction. These limits may change based on periodic risk assessments. The amount of money available to you each day will be reduced based on transactions initiated over the last seven days. Transactions from the previous week will roll-off increasing your availability on the U.S. Bank Pay A Person service. Sufficient Funds – You agree to maintain sufficient funds in your Transaction Account to cover the amount of any payments you request through the U.S. Bank Pay A Person service and any fees, as applicable. We have the right to suspend service for future transactions if you do not maintain sufficient funds in your Transaction Account. Acceptable Use – You agree that you are independently responsible for complying with all applicable laws in all of your activities related to your use of the U.S. Bank Pay A Person service, regardless of the purpose of the use, and for all communications you send through the U.S. Bank Pay A Person service. We and other Service Providers have the right but not the obligation to monitor and remove communications content that we find in our sole discretion to be objectionable in any way. Prohibited Use – You are prohibited from using the U.S. Bank Pay A Person service for communications or activities that: Prohibited Payments – You agree to not use the U.S. Bank Pay A Person service for any of the following payments which are prohibited. We have the right but not the obligation to monitor for, block and/or reverse such payments.
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Related to Payment Limits

  • Upper payment limit means the maximum ceiling imposed by

  • Contingent Compensation Payment means any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.

  • Payment Cap For each Mortgage Loan, the percentage limit set forth in the related Mortgage Note concerning the maximum permitted increase in a monthly payment.

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Scheduled Funded Debt Payments means, as of any date of determination for the Borrower and its Subsidiaries, the sum of all scheduled payments of principal on Funded Debt for the applicable period ending on the date of determination (including payments due on Capital Leases and mortgaged real properties (including any Mortgaged Properties) during the applicable period ending on the date of determination).

  • Annuity Payments The series of payments made to the Owner or any named payee after the Annuity Date under the Annuity Option selected. ANNUITY PERIOD: The period of time beginning with the Annuity Date during which Annuity Payments are made.

  • Additional Payment has the meaning given in clause 11.1 (Right to repay the Facility early).

  • Additional Payments means additional amounts required to be paid to a holder of any Note pursuant to Section 13 by reason of a Change in Tax Law; and a “Change in Tax Law” means (individually or collectively with one or more prior changes) (i) an amendment to, or change in, any law, treaty, rule or regulation of Canada after the date of the Closing, or an amendment to, or change in, an official interpretation or application of such law, treaty, rule or regulation after the date of the Closing, which amendment or change is in force and continuing and meets the opinion and certification requirements described below or (ii) in the case of any other jurisdiction that becomes a Taxing Jurisdiction after the date of the Closing, an amendment to, or change in, any law, treaty, rule or regulation of such jurisdiction, or an amendment to, or change in, an official interpretation or application of such law, treaty, rule or regulation, in any case after such jurisdiction shall have become a Taxing Jurisdiction, which amendment or change is in force and continuing and meets such opinion and certification requirements. No such amendment or change shall constitute a Change in Tax Law unless the same would in the opinion of the Company (which shall be evidenced by an Officer’s Certificate of the Company and supported by a written opinion of counsel having recognized expertise in the field of taxation in the Taxing Jurisdiction, both of which shall be delivered to all holders of the Notes prior to or concurrently with the Tax Prepayment Notice in respect of such Change in Tax Law) affect the deduction or require the withholding of any Tax imposed by such Taxing Jurisdiction on any payment payable on the Notes.

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Upfront Payment has the meaning set forth in Section 4.1.

  • Minimum Payments $50 (with respect to all funds in the aggregate.)

  • Capitalization Reimbursement Amount As to any Distribution Date, the amount of Advances or Servicing Advances that were added to the Stated Principal Balance of the related Mortgage Loans during the prior calendar month and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date pursuant to Section 3.10(a)(vii), plus the Capitalization Reimbursement Shortfall Amount remaining unreimbursed from any prior Distribution Date and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date.

  • Agreement Payment means a Payment paid or payable pursuant to this Agreement.

  • Termination Payments has the meaning specified in Section 10(a).

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Earnout Payments has the meaning set forth in Section 2.2(a).

  • Contingent Payments has the meaning set forth in Section 2.05(b).

  • Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

  • Aggregate Payments means, with respect to a Contributing Guarantor as of any date of determination, an amount equal to (1) the aggregate amount of all payments and distributions made on or before such date by such Contributing Guarantor in respect of this Guaranty (including in respect of this Section 7.2), minus (2) the aggregate amount of all payments received on or before such date by such Contributing Guarantor from the other Contributing Guarantors as contributions under this Section 7.2. The amounts payable as contributions hereunder shall be determined as of the date on which the related payment or distribution is made by the applicable Funding Guarantor. The allocation among Contributing Guarantors of their obligations as set forth in this Section 7.2 shall not be construed in any way to limit the liability of any Contributing Guarantor hereunder. Each Guarantor is a third party beneficiary to the contribution agreement set forth in this Section 7.2.

  • Advance Payments means the payments made by Customer in advance of delivery with respect of an Aircraft pursuant to Section 4.2 of the Purchase Agreement.

  • Exception Payments means payments to deposit accounts or brokerage accounts, payments to settle securities transactions (including, without limitation, stocks, bonds, securities, futures (forex), options, or an investment interest in any entity or property).

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • Consolidated Scheduled Funded Debt Payments means for any period for the Borrower and its Subsidiaries on a consolidated basis, the sum of all scheduled payments of principal on Consolidated Funded Indebtedness, as determined in accordance with GAAP. For purposes of this definition, “scheduled payments of principal” (a) shall be determined without giving effect to any reduction of such scheduled payments resulting from the application of any voluntary or mandatory prepayments made during the applicable period, (b) shall be deemed to include the Attributable Indebtedness in respect of Capital Leases, Securitization Transactions and Synthetic Leases and (c) shall not include any voluntary prepayments or mandatory prepayments required pursuant to Section 2.05.

  • Monthly Debt Service Payment Amount means, for each Monthly Payment Date, an amount equal to the amount of interest which is then due on all the Components of the Loan in the aggregate for the Interest Period during which such Monthly Payment Date occurs.

  • Consolidated Rental Payments means, for any period, the aggregate amount of all rents paid or payable by Company and its Subsidiaries on a consolidated basis during that period under all Capital Leases and Operating Leases to which Company or any of its Subsidiaries is a party as lessee.