With Profits Units definition

With Profits Units means the notional units whose value or number vary by reference to bonuses declared, or surpluses otherwise distributed, as determined by the Transferor or Transferee for the purposes of calculating benefits payable under the IFS With Profit Policies.
Sample 1Sample 2Sample 3
With Profits Units means the units we create when a payment is invested in the fund. The value of these units, before the deduction of the annual charge under condition 5.1, may increase, by the addition of bonuses.
Sample 1Sample 2
With Profits Units means the notional units whose value or number vary by reference to bonuses declared, or surpluses otherwise distributed, as determined by FLL for the purposes of calculating benefits payable under Policies; "WLUK Scheme" means the scheme pursuant to Section 49 of, and Schedule 2C to, the Insurance Companies Xxx 0000 (application no. 7333 of 2000), the effective date of which was 1 June 2001 (and which was amended by an order of the Court made on 29 November 2004 and a further order of the Court made on 14 September 2011) and which ceases to have effect in accordance with paragraph 43 of this Scheme; "WLUK Scheme Effective Date" means 1 June 2001;
Sample 1

Examples of With Profits Units in a sentence

  • Any premium received by the Transferee on or after the Effective Date in respect of a Scottish Widows UWP Policy or a Clerical Medical UWP Policy shall be credited to the Combined Fund and the Investment Element in respect thereof shall be transferred from the Combined Fund and credited to the relevant With Profits Fund and applied in allocating With Profits Units in the relevant With Profits Fund in respect of that Policy.

  • Any amounts in respect of a UWP Primary Fund Policy to be allocated to With Profits Units on or after the Effective Time as a result of a switch from Unit Linked Units to With Profits Units, or otherwise, in accordance with the terms of the relevant Policy shall be debited from the relevant Primary Fund and credited to the With Profits Fund and applied in allocating With Profits Units in respect of the relevant Policy.

  • Any Premium received by SLAL on or after the Effective Time in respect of a Unitised With Profits Policy to which this paragraph 23 applies (a “UWP Primary Fund Policy”) shall be credited to the relevant Primary Fund and the WP Investment Element in respect thereof shall be debited from the relevant Primary Fund and credited to the With Profits Fund and applied in allocating With Profits Units in respect of such UWP Primary Fund Policy.

  • Where the Authority is uncertain about the sustainability of an otherwise acceptable proposal, permission may be granted foran appropriately coloured caravan or other temporary accommodation.

  • There may be significant differences in the mix of assets deemed to back the Asset Shares of different groups of With Profits Policies or With Profits Units.

  • With Profits Units will cease to participate in profits after the addition of any Interim Bonus and/or Final Bonus which is or are due on that date.

  • The provisions of this Agreement may be enforced only by a Party to it and the operation of the Contracts (Rights of Third Parties) Act 1999 is excluded in relation to all third parties.

  • This can also be the case for different groups of WP Benefits (or ‘increments’) set up under a single class of continuing Conventional With Profits Policies and for different groups of With Profits Units under a single class of Policies.

  • We can apply different rates of Terminal Bonus to different groupings of Policies, WP Benefits or With Profits Units.

  • Procedure for setting rates of Terminal Bonus This section covers With Profits Units, Conventional With Profits Policies and UWP Annuities.


More Definitions of With Profits Units

With Profits Units means notional units (i) whose value or number vary by
Sample 1

Related to With Profits Units

  • Performance Share means an Award denominated in Shares which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section 10.

  • Restricted Stock Unit Agreement means the agreement consistent with the terms of the Plan between the Company and the recipient of a Restricted Stock Unit that contains the terms, conditions and restrictions pertaining to such Restricted Stock Unit.

  • Performance Share Award means an Award entitling the recipient to acquire shares of Stock upon the attainment of specified Performance Goals.

  • LTIP means the Long-Term Incentive Plan of the General Partner, as may be amended, or any equity compensation plan successor thereto.

  • Restricted Stock Units means an Award of stock units subject to such restrictions and conditions as the Administrator may determine at the time of grant.

  • Share Unit means a unit credited by means of an entry on the books of the Corporation to a Participant pursuant to the Plan, representing the right to receive, subject to and in accordance with the Plan, for each Vested Share Unit one Share, at the time, in the manner, and subject to the terms, set forth in the Plan and the applicable Grant Agreement;

  • Performance Share Unit or “PSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 6;

  • Restricted Stock Unit Award Agreement means a written agreement between the Company and a holder of a Restricted Stock Unit Award evidencing the terms and conditions of a Restricted Stock Unit Award grant. Each Restricted Stock Unit Award Agreement will be subject to the terms and conditions of the Plan.