Variable Payments definition

Variable Payments. Variable Payments are periodic payments from the Company to the designated Payee, the amount of which varies from one payment to the next as a reflection of the net investment experience of the Sub-Account(s) you select to support the payments. The amount of the first Variable Payment depends on the Annuity Income Option elected and the age and sex of the Annuitant. This Contract contains a Variable Income Option Table indicating the dollar amount of the first monthly payment under each annuity option form for each $1,000 of value applied. The tables are determined based on the Annuity 2000 Table projected with Scale G to the year of annuitization and interest at a rate of 5% per annum. The 5% interest rate assumed in the Variable Income Option Table will produce level annuity income payments if the Net Investment Rate remains constant at 5% per year. Subsequent payments will be less than, equal to, or greater than the first payment depending upon whether the actual Net Investment Rate is less than, equal to, or greater than 5%. The dollar amount of the first Variable Payment is determined by applying the available value, after the deduction of any applicable premium taxes, to the table using the age and sex of the Annuitant(s). The number of Annuity Units is then determined by dividing the dollar amount of that first payment by the then current Annuity Unit Value. Thereafter, the number of Annuity Units will remain unchanged during the period of the annuity payments. This determination is made separately for each Sub-account of the Separate Account. The number of Annuity Units is determined for each Sub-account and is based upon the available value in each Sub-account as of the date annuity payments are to begin. The dollar amount determined for each Sub-account will then be aggregated for the purposes of making payments. The dollar amount of the second and later Variable Payments is equal to the number of Annuity Units determined for each Sub-account multiplied by the Annuity Unit Value of that Sub-account as of the due date of that payment. This amount may increase or decrease from month to month. The value of an Annuity Unit for a Sub-account is determined as described below, by subtracting item 2 from item 1, dividing that result by item 3 and multiplying the result by a factor to neutralize the assumed Net Investment Rate, discussed above, per annum.
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Variable Payments shall have the meaning described in ARTICLE 4.
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Variable Payments means the amount required to be deposited in the Interest Account of the Revenue Fund on the applicable 2008 Installment Payment Date.
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Examples of Variable Payments in a sentence

  • Notwithstanding any provision of this Agreement to the contrary, all Variable Payments and any other payments pursuant to this Agreement shall be subject to the rights of the Party obligated to make such payment to deduct from or set off against such payment any and all amounts then due and owing to such Party by the other Party, whether under this Agreement or otherwise.

  • In consideration of the Delivered Energy and Charging Energy during the Delivery Term, Buyer shall make Variable Payments to Seller in accordance with the provisions of Section 5.1.

  • In such event, Buyer shall be entitled to receive all Products from the applicable test according and subject to the terms and conditions of this Agreement and shall pay Variable Payments for any Delivered Energy, up to the Maximum Delivered Contract Energy, and any Charging Energy, up to the amount included in the applicable Charging Notice, associated with such test.

  • Subsequent Variable Payments — The amount of each subsequent variable annuity payment will be the sum of the amounts payable based on the Annuity Units in each Subaccount.

  • Amount of Second and Subsequent Variable Payments - The dollar amount of the second and subsequent variable income payments may change with the investment performance of the Variable Sub-Accounts.

  • Subsequent Variable Payments - The amount of each subsequent variable annuity payment will be the sum of the amounts payable based on the Annuity Units in each Subaccount.

  • The Statement shall include calculations, in reasonable detail, of such amounts owed to the Company for Fixed Payments and Variable Payments (if any) and amounts owed to JPS, including for liquidated damages, in accordance with this Agreement and the procedures determined by the Operating Committee.

  • Please refer to the Subsequent Variable Payments provision in the Annuity Provisions section of your Contract for more details.

  • The Life Annuity Tables for Variable Payments are used to determine the first monthly annuity payment.

  • Subsequent Variable Payments — The amount of each Subsequent Variable Annuity Payment will be the sum of the amounts payable based on the Annuity Units in each Subaccount.


More Definitions of Variable Payments

Variable Payments has the meaning set forth in Article III.
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Variable Payments means variable payments to be paid to the Borrower by the Lender in accordance with the STA; Gender — In this Agreement, words importing the singular number shall include the plural and vice versa, and words importing the use of any gender shall include the masculine, feminine and neuter genders; Calculation of time — When calculating the period of time within which or following which any act is to be done or step taken pursuant to this Agreement, the date which is the reference date in calculating such period shall be excluded. The term determined in days starts on the first day after the event from which the term is to be counted, and ends by expiry of the last day of the term. Term determined in weeks, months or years ends on the day that by the name and number corresponds with term starting day, and if such a day does not exist in the last month, term ends on the last day of that month (e.g. term of one year commencing on January 1, 2011. will end on January 1, 2012) If the last day of the term occurs on the day which is determined by law as non-working day, the last day of the term is the next working day; Legislation references — Any references in this Agreement to any law, by-law, rule, regulation, order or act of any government, governmental body or other regulatory body shall be construed as a reference thereto as amended or re-enacted from time to time or as a reference to any successor thereto; Headings for convenience only — The division of this Agreement into articles and sections is for convenience of reference only and shall not affect the interpretation or construction of this Agreement. The following documents are attached to this Agreement and form a part hereof: • Appendix 1- Schedule of advances and repayments • Appendix 2- Form of the Mortgage Agreement • Appendix 3- Form of the Escrow Mortgage Agreement • Appendix 4- Forms of Borrower’s and Company’s certificates • Appendix 5- Draft Stake transfer Agreement (Article 9.3, clause (2))
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Variable Payments means variable payments to be paid to the Borrower by the Lender in accordance with the STA;
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Variable Payments means either of the JCN Variable Payments, the SPN Variable Payment and the JPN Variable Payment, or all of them, as appropriate; and
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Variable Payments means variable payments under Division 6.
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Variable Payments has the meaning given to it under the sections headed “THE HONG KONG DISTRIBUTION AGREEMENT – Consideration” and “THE MACAU DISTRIBUTION AGREEMENT – Consideration” Hong Kong, 2 June 2016
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Related to Variable Payments

  • Variable Costs means the Train Operator’s costs which vary as a result of a Category 3 Disruption, a Relevant Cancellation or a Relevant Service Variation (as the case may be) arising directly from changes in train mileage including staff, maintenance, fuel or electricity costs, and the Variable Charge.

  • Passthru payments means any withholdable payment and any "foreign passthru payment," which is currently not defined. The current proposed FATCA regulations (“Proposed Regulations”) state that the Internal Revenue Service and the U.S. Treasury have determined, that withholding on “foreign passthru payments” is not required, pending further guidance and analysis. The Proposed Regulations provide that such withholding will not be effective before the date that is two years after the publication of final regulations defining the term “foreign pass-thru payment”.

  • Variable Charge means the charge that varies according to kgtm and is calculated in accordance with the formula set out in paragraph 2.2.1, summed across all Services;

  • Variable Interest Rate means any interest rate that does not qualify as a fixed credit interest rate;

  • Service payments means payments to the private entity of a qualifying project pursuant to a service contract.