Renewal credit definition

Renewal credit means credit earned by a certificated employee for certificate renewal purposes.
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Renewal credit. A Renewal Credit Amount, shown above, is allocated as of the Date of Renewal Credit, shown above. The Renewal Credit Amount is allocated among the Subaccounts and Guaranteed Account Options according to the premium allocation schedule in effect on the Date of Renewal Credit. IN SECTION 9: FEES AND CHARGES, THE FIRST PARAGRAPH IS REPLACED BY THE FOLLOWING: SURRENDER CHARGE: The Surrender Charge is equal to the Renewal Credit Percentage, shown above, of the Renewal Credit Amount and to a percentage of each premium payment that is surrendered or withdrawn. The percentages applicable to a Renewal Credit Amount are shown above. The Surrender Charge is separately calculated and applied to the Renewal Credit Amount and to each premium payment at any time that a Renewal Credit Amount or premium payment is surrendered or withdrawn. No Surrender Charge applies to that portion of the Contract Account Value equal to the Free Withdrawal Amount or to the Contract Account Value in excess of the sum of the Renewal Credit Amount and aggregate premium payments as of the date of withdrawal or surrender, adjusted for prior withdrawals of either Renewal Credit Amount or premium payments. Form R1210 18 The Surrender Charge is calculated using the assumption that Contract Account Value is withdrawn in the following order: (1) the Free Withdrawal Amount for the Contract Year; (2) a pro-rata share of the Renewal Credit Amount; (3) aggregate premium payments (assuming a first-in, first-out basis); and (4) any remaining Contract Account Value. We determine the amount of the Renewal Credit Amount that is being withdrawn as the product of (a) and (b) where:
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Examples of Renewal credit in a sentence

  • Renewal credit earned in ESE may be applied toward fulfillment of renewal requirements of any subject specialization area issued on the professional certificate.

  • For example, the VASR might indicate the number of veterinarians and veterinary technicians associated with the applicant institution, and their proximity to the performance site(s).

  • Delivery charges and timescales vary depending on the delivery address and the type of product you wish to receive.

  • Other Activities - Renewal credit may be awarded for other activities if credit has been established by an entity empowered to determine credit (workshops set up by State Department of Public Instruction; independent study activities; or conferences/seminars set up to award CEUs).

  • Renewal credit may be awarded for other activities if credit has been established by an entity empowered to determine credit (workshops set up by State Department of Public Instruction; independent study activities; or conferences/seminars set up to award CEUs).

Related to Renewal credit

  • Universal Credit means any payment of Universal Credit payable under the Welfare Reform Act 2012, the Universal Credit Regulations 2013, The Universal Credit (Consequential, Supplementary, Incidental and Miscellaneous Provisions) Regulations 2013, Universal Credit (Miscellaneous Amendments) Regulations 2013 and the Universal Credit (Transitional Provisions) Regulations 2014;

  • Dual credit means the system under which an eligible high school student enrolls in college course(s) and receives credit for the course(s) from both the college and high school.

  • Original Credit Agreement shall have the meaning assigned to such term in the recitals hereto.

  • Additional Credit Facilities means any credit facilities added pursuant to Sections 2.22, 2.23 or 9.02(c).

  • Auto-Renewal Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • Material Credit Facility means, as to the Company and its Subsidiaries,

  • Principal Credit Facility means any loan agreement, credit agreement, note purchase agreement, indenture or similar document under which credit facilities in the aggregate original principal or commitment amount of at least $20,000,000 are provided for.

  • Additional Credit Party means each Person that becomes a Guarantor by execution of a Joinder Agreement in accordance with Section 5.10.

  • Partial Credit Payment means any payment, distribution or benefit that is not a Full Credit Payment.

  • Credit means the right granted by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment.

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Credit Amount has the meaning set forth in Section 4.01(b)(ii).

  • Letter of Credit Termination Date means the fifth Domestic Business Day prior to the Termination Date.

  • Additional Credit Extension Amendment means an amendment to this Agreement providing for any Incremental Commitments which shall be consistent with the applicable provisions of this Agreement relating to such Incremental Commitments and otherwise reasonably satisfactory to the Administrative Agent and the Borrower.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Bank Credit Facility means any credit agreement or working capital facility among the Company and/or its Subsidiaries and one or more lenders, as such credit agreement or working capital facility may be amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified (including with other lenders) from time to time, regardless of whether any other credit agreement or working capital facility or any portion thereof was outstanding or in effect at the time of such amendment, renewal, extension, substitution, refinancing, restructuring, replacement, supplement or modification.

  • Term Loan Exposure means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Term Loans of such Lender; provided, at any time prior to the making of the Term Loans, the Term Loan Exposure of any Lender shall be equal to such Lender’s Term Loan Commitment.

  • Existing ABL Credit Agreement means that certain ABL credit agreement, dated as of April 19, 2013, among Petco Animal Supplies, Inc., the lenders party thereto, Bank of America, N.A., (as successor to Credit Suisse AG) as administrative agent, Xxxxx Fargo Bank, National Association, as collateral agent, and the subsidiaries of Petco Animal Supplies, Inc. from time to time party thereto, as amended by that certain First Amendment to the ABL Credit Agreement, dated as of November 21, 2014.

  • Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • Loan Exposure means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Loans of such Lender; provided, at any time prior to the making of the Loans, the Loan Exposure of any Lender shall be equal to such Lender’s Commitment.

  • ABL Credit Facility means the senior secured asset-based revolving loan facility and the term loan facilities made pursuant to the ABL Credit Agreement.

  • Federal credit means the Low Income Housing Tax Credit established by the federal government for the purpose of encouraging the development of affordable housing and governed by the Code.

  • Revolving Loan Exposure means, with respect to any Revolving Lender, as of any date of determination (a) prior to the termination of the Revolver Commitments, the amount of such Lender’s Revolver Commitment, and (b) after the termination of the Revolver Commitments, the aggregate outstanding principal amount of the Revolving Loans of such Lender.

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

  • operational creditor means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred;

  • Revolving Credit Termination Date means the earlier to occur of (i) the Current Termination Date then in effect and (ii) the date of termination in whole of the Commitments pursuant to Section 2.05(a) or 6.01.