Total Purchase Payments definition

Total Purchase Payments. Amount Deducted Paid Under the Contract From Purchase Payment First $100,000 4.5% Next $400,000 2.0% Next $500,000 1.0% Balance over $1,000,000 0.5% PREMIUM TAX(See Section 7.1): For the first Contract Year, Premium Taxes are not deducted from Purchase Payments. After the first Contract Year, the Company may deduct Premium Taxes from Purchase Payments received or benefits paid. ANNUAL MORTALITY AND EXPENSE RISK CHARGE (See Section 2.3): 0.50% at Issue; 0.75% Maximum ANNUAL CONTRACT FEE (See Section 7.2): $30 charged on the contract anniversary. The contract fee will be waived if the Accumulation Value of the contract equals or exceeds $25,000 on the contract anniversary. ENHANCED DEATH BENEFIT CHARGE 0.10% of the Enhanced Death Benefit on each contract anniversary. TRANSFER FEE (See Sections 4.4 and 11.5): $25 beginning with the thirteenth transfer in any Contract Year. MINIMUM PURCHASE PAYMENTS, ACCUMULATION VALUE, PAYMENT PLANS MINIMUM PURCHASE PAYMENT (See Section 4.1): $25 MINIMUM ACCUMULATION VALUE (See Sections 5.2 and 9.9): $2,000 MINIMUM PAYMENT UNDER PAYMENT PLAN (See Sections 9.9 and 10.1): $50 Monthly Income.
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Total Purchase Payments. Amount Deducted Paid Under the Contract From Purchase Payment First $100,000 4.5% Next $400,000 2.0% Next $500,000 1.0% Balance over $1,000,000 0.5% PREMIUM TAX(See Section 7.1): For the first Contract Year, Premium Taxes are not deducted from Purchase Payments. After the first Contract Year, the Company may deduct Premium Taxes from Purchase Payments received or benefits paid. ANNUAL MORTALITY AND EXPENSE RISK CHARGE (See Section 2.3): 0.50% at Issue; 0.75% Maximum ANNUAL CONTRACT FEE (See Section 7.2): $30 charged on the contract anniversary. The contract fee will be waived if the Accumulation Value of the contract equals or exceeds $25,000 on the contract anniversary. ENHANCED DEATH BENEFIT CHARGE 0.10% of the Enhanced Death Benefit on each contract anniversary. TRANSFER FEE (See Sections 4.4 and 11.5): $25 beginning with the thirteenth transfer in any Contract Year. MINIMUM PURCHASE PAYMENTS, ACCUMULATION VALUE, PAYMENT PLANS MINIMUM PURCHASE PAYMENT (See Section 4.1): $25 MINIMUM ACCUMULATION VALUE (See Sections 5.2 and 9.9): $2,000 MINIMUM PAYMENT UNDER PAYMENT PLAN (See Sections 9.9 and 10.1): $50 Monthly Income. CONTRACT NUMBER 12 345 678 GUARANTEED INTEREST FUND - TABLE OF GUARANTEED VALUES The table shows minimum guaranteed values and assumes a $10,000 Purchase Payment made at the time of issue followed by subsequent $1,000 Purchase Payments made annually thereafter on each contract anniversary. The values are based on the assumption that 100% of all net Purchase Payments are allocated to, and remain in, the Guaranteed Interest Fund. End of Contract Accumulation Cash Year March 31 Value Value 1 2001 $ 9,836 $ 9,836 2 2002 11,084 11,084 3 2003 12,369 12,369 4 2004 13,693 13,693 5 2005 15,057 15,057 6 2006 16,461 16,461 7 2007 17,908 17,908 8 2008 19,398 19,398 Age 70 2035 82,877 82,877 This table is based on the guaranteed annual effective interest rate of 3%. Higher declared rates of interest will increase values. Values shown at the end of contract years do not reflect any Purchase Payments paid on that contract anniversary. The actual guaranteed values may differ from those shown above, depending on the amount and frequency of Purchase Payments.
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Total Purchase Payments. [$1,000,000.00, without our prior approval.] [Purchase Payment Credits: [4%] of each Purchase Payment for cumulative Purchase Payments received during the first Contract Year.]
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Examples of Total Purchase Payments in a sentence

  • Total Purchase Payments may not exceed $5,000,000 without the consent of the Company.

  • We reserve the right to reject any application or Purchase Payment.Minimum Initial Purchase Payment Minimum Additional Purchase Payment Maximum Total Purchase Payments You must obtain our consent before making an initial or additional Purchase Payment that will bring your aggregate Purchase payments over $1,000,000.

  • Total Purchase Payments cannot be greater than the Maximum Total Purchase Payments without our prior approval.

  • Total Purchase Payments cannot be greater than the Maximum Total Purchase Payments.

  • The Initial Purchase Payment cannot be greater than the Maximum Total Purchase Payments shown on the Contract Schedule.

  • The Initial Purchase Payment cannot be greater than the Maximum Total Purchase Payments shown on the Contract Schedule without our prior approval.

  • Total Purchase Payments to the Contract may not be greater than $1,000,000 without prior approval by the Company.

  • In determining whether You have reached the maximum amount allowed under the Maximum Total Purchase Payments per Owner, We include payments made to all deferred annuity contracts We have issued where You are an Owner.

  • We reserve the right to limit total Purchase Payments into this Contract to the Maximum Total Purchase Payments shown on the Contract Specifications.

  • The maximum amount allowed each contract year is based on Your Attained Age at the time of payment, subject to the Maximum Total Purchase Payments per Owner shown under Contract Data, unless We allow otherwise on a non-discriminatory basis.


More Definitions of Total Purchase Payments

Total Purchase Payments. The maximum total of all purchase payments is $500,000 without our prior consent.]
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Related to Total Purchase Payments

  • Repurchase Payment for any Repurchased Receivable as of the last day of any Collection Period, means the sum of the Principal Balance thereof as of the beginning of such Collection Period plus interest accrued thereon through the due date for the Obligor’s payment in such Collection Period at the related APR, after giving effect to the receipt of monies collected on such Repurchased Receivable, if any, during such Collection Period.

  • Purchase Payment A payment made toward this Contract.

  • Administrative Purchase Payment means, with respect to a Payment Date and to an Administrative Receivable purchased by the Seller or the Servicer as of the end of the related Collection Period, the sum of (a) the unpaid principal balance owed by the related Obligor in respect of such Receivable and (b) interest on such unpaid principal balance at a rate equal to the APR of the related Receivable from the date of last payment by such Obligor to the last day of such Collection Period.

  • PURCHASE PAYMENTS [We reserve the right to reject any Purchase Payment.] Minimum Subsequent Purchase Payment: [$500 for both Non-Qualified and Qualified, unless you have elected an automatic sweep program.]

  • Total Purchase Price means the aggregate amount payable by the Purchaser as set out in Appendix A of this Agreement.

  • Warranty Purchase Payment means, with respect to a Payment Date and to a Warranty Receivable repurchased by the Seller as of the close of business on the last day of the related Collection Period, the sum of (a) the unpaid principal balance owed by the Obligor in respect of such Receivable plus (b) interest on such unpaid principal balance at a rate equal to the related APR to the last day in the related Collection Period.

  • Lease Payment Date means, with respect to any Interest Payment Date, the 5th Business Day immediately preceding such Interest Payment Date.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Optional Purchase Price has the meaning set forth in Section 8.1 of the Sale and Servicing Agreement.

  • Final Purchase Price has the meaning set forth in Section 2.02.

  • Aggregate Supplemental Purchase Amount with respect to this Supplemental Transfer Agreement shall be $________; provided, however, that such amount shall not exceed the amount on deposit in the Supplemental Loan Account.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Lease Payment means any form of payment, including a land lease, by a public entity to the private entity for the use of a qualifying project.

  • Exercise Payment means the amount of money equal to the Exercise Price multiplied by the number of Optioned Shares specified in the Notice of Exercise;

  • Non-Lead Securitization Determination Date means the “determination date” (or any term substantially similar thereto) as defined in the related Non-Lead Securitization Servicing Agreement.

  • Initial Monthly Payment Fund An amount representing scheduled principal amortization and interest at the Net Mortgage Rate for the Due Date in the first Due Period commencing subsequent to the Cut-off Date for those Mortgage Loans for which the Trustee will not be entitled to receive such payment, and as more specifically defined in the Series Supplement.

  • Monthly Payment Amount means, with respect to each Payment Date, a payment equal to the amount of interest which has accrued during the related Interest Accrual Period, computed at the Interest Rate.

  • Incremental Purchase means a purchase of one or more Purchaser Interests which increases the total outstanding Aggregate Capital hereunder.

  • Aggregate Purchase Price has the meaning set forth in Section 1.1.

  • Additional Purchase Price has the meaning provided in Section 1.2(b).

  • Deferred Sales Charge Payment Date means October 10, 2013 and the tenth day of each month thereafter through February 10, 2014.

  • Initial Payment means the dollar amount specified as the “Initial Payment” in the applicable Purchase Agreement.

  • Redemption Call Purchase Price has the meaning set out in Section 5.2(a).

  • Advance Payment shall have the meaning set forth in Clause 19.2; “Affected Party” shall have the meaning set forth in Clause 21.1;

  • Contract Adjustment Payments means the payments payable by the Company on the Special Payment Date or the Payment Dates in respect of each Purchase Contract, at a rate per year of [•]% of the Stated Amount per Purchase Contract.

  • Total Monthly Excess Spread As to any Distribution Date, an amount equal to the excess if any, of (i) the interest on the Mortgage Loans received by the Servicer on or prior to the related Determination Date or advanced by the Servicer for the related Remittance Date (net of Expense Fees) over (ii) the sum of the amounts payable to the Certificates pursuant to Section 4.02(a)(i) on such Distribution Date.