GUARANTEED WITHDRAWAL AMOUNT Sample Clauses

GUARANTEED WITHDRAWAL AMOUNT. The Guaranteed Withdrawal Amount is the total amount that you or your ----- beneficiary will receive from the Contract over time, provided that withdrawals from your Contract do not exceed the Annual Benefit Payment (defined in Section 3 below) in any Contract Year. Your initial Guaranteed Withdrawal Amount is equal to the Initial Benefit Base. Your Initial Benefit Base as of the date of issue of this Rider is shown on the Contract Schedule. For each Purchase Payment made on or before the GWB Purchase Payment Date shown in the Contract Schedule, the Guaranteed Withdrawal Amount will be reset equal to the greater of a) the Guaranteed Withdrawal Amount before the Purchase Payment and b) the Benefit Base after the Purchase Payment. When a Purchase Payment is made after the GWB Purchase Payment Date, the Guaranteed Withdrawal Amount will not change. The GWB Purchase Payment Date is the last date that Purchase Payments can reset the Guaranteed Withdrawal Amount, Benefit Base or Annual Benefit Payment as defined below. Your Guaranteed Withdrawal Amount is not reduced for withdrawals. The Guaranteed Withdrawal Amount may also be reset as a result of an Automatic or Optional Reset as described below.
Sample 1Sample 2
AutoNDA by SimpleDocs
GUARANTEED WITHDRAWAL AMOUNT. In the section titled Guaranteed Withdrawal Amount, the following is added at the end of the section: If you name a second Covered Person, on the Contract Anniversary on which that Covered Person becomes effective the Guaranteed Withdrawal Amount will be adjusted to equal:
Sample 1
GUARANTEED WITHDRAWAL AMOUNT. The Guaranteed Withdrawal Amount is the minimum amount that You or Your beneficiary are guaranteed to receive from the Contract over time, provided that withdrawals from Your Contract do not exceed the Annual Benefit Payment (defined in Section 4 below) each Contract Year. The Guaranteed Withdrawal Amount is also the amount to which the Lifetime GWB Rider Charge is applied. Your initial Guaranteed Xxxxxxxxxx Xxxxxx, as of the date of issue of this rider, is equal to Your initial Purchase Payment.
Sample 1

Related to GUARANTEED WITHDRAWAL AMOUNT

  • Interest and Withdrawal No interest shall be paid by the Partnership on Capital Contributions. No Partner shall be entitled to the withdrawal or return of its Capital Contribution, except to the extent, if any, that distributions made pursuant to this Agreement or upon termination of the Partnership may be considered as such by law and then only to the extent provided for in this Agreement. Except to the extent expressly provided in this Agreement, no Partner shall have priority over any other Partner either as to the return of Capital Contributions or as to profits, losses or distributions. Any such return shall be a compromise to which all Partners agree within the meaning of Section 17-502(b) of the Delaware Act.

  • Demand Withdrawal A Holder may withdraw its Registrable Securities from a Demand Registration at any time prior to the effective time of the Registration Statement covering the applicable Demand Registration by giving written notice of such withdraw prior to the effective time of such Registration Statement. If all Holders withdraw their Registrable Securities from a Demand Registration, the Company shall cease all efforts to secure registration. The Company shall not withdraw a Registration Statement relating to a Demand Registration without the written consent of the Initiating Holders, unless required to do so by law, regulation or upon the request of the SEC.

  • Reserve Account Withdrawal If the Series 2003-5 Letter of Credit Amount will be less than the Principal Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 2003-5 Reserve Account, an amount equal to the lesser of (x) the Series 2003-5 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the amounts to be deposited in the Series 2003-5 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit it in the Series 2003-5 Distribution Account on such Distribution Date.

  • Permitted Withdrawals From Custodial Account The Servicer shall, from time to time, withdraw funds from the Custodial Account for the following purposes:

  • Permitted Withdrawals From Escrow Account Withdrawals from the Escrow Account or Accounts may be made by the Servicer only:

  • Distribution Upon Withdrawal No withdrawing Member shall be entitled to receive any distribution or the value of such Member’s Interest in the Company as a result of withdrawal from the Company prior to the liquidation of the Company, except as specifically provided in this Agreement.

  • Voluntary Withdrawal No Member shall have the right or power to Voluntarily Withdraw from the Company and any Member who shall voluntarily withdraw shall be in intentional breach of this Agreement. No Member who shall Voluntarily Withdraw shall be entitled to receive, in liquidation of his Interest, pursuant to Section 25-10 of the Act or otherwise, the fair value of the Member’s Interest on the date of Voluntary Withdrawal.

  • DISTRIBUTION OF EXCESS AGGREGATE CONTRIBUTIONS The Advisory Committee will determine excess aggregate contributions after determining excess deferrals under Section 14.07 and excess contributions under Section 14.08. If the Advisory Committee determines the Plan fails to satisfy the ACP test for a Plan Year, it must distribute the excess aggregate contributions, as adjusted for allocable income, during the next Plan Year. However, the Employer will incur an excise tax equal to 10% of the amount of excess aggregate contributions for a Plan Year not distributed to the appropriate Highly Compensated Employees during the first 2 1/2 months of that next Plan Year. The excess aggregate contributions are the amount of aggregate contributions allocated on behalf of the Highly Compensated Employees which causes the Plan to fail to satisfy the ACP test. The Advisory Committee will distribute to each Highly Compensated Employee his respective share of the excess aggregate contributions. The Advisory Committee will determine the respective shares of excess aggregate contributions by starting with the Highly Compensated Employee(s) who has the greatest contribution percentage, reducing his contribution percentage (but not below the next highest contribution percentage), then, if necessary, reducing the contribution percentage of the Highly Compensated Employee(s) at the next highest contribution percentage level (including the contribution percentage of the Highly Compensated Employee(s) whose contribution percentage the Advisory Committee already has reduced), and continuing in this manner until the ACP for the Highly Compensated Group satisfies the ACP test. If the Highly Compensated Employee is part of an aggregated family group, the Advisory Committee, in accordance with the applicable Treasury regulations, will determine each aggregated family member's allocable share of the excess aggregate contributions assigned to the family unit.

  • Required Amount (a) With respect to each Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the “Class A Required Amount”), if any, by which (x) the sum of (i) Class A Monthly Interest for such Distribution Date, (ii) any Class A Monthly Interest previously due but not paid to the Class A Certificateholders on a prior Distribution Date, (iii) any Class A Additional Interest for such Distribution Date and (iv) any Class A Additional Interest previously due but not paid to the Class A Certificateholders on a prior Distribution Date, (v) if TRS or an Affiliate of TRS is no longer the Servicer, the Class A Servicing Fee for such Distribution Date, (vi) if TRS or an Affiliate of TRS is no longer the Servicer, any Class A Servicing Fee previously due but not paid to the Servicer, and (vii) the Class A Investor Default Amount, if any, for such Distribution Date exceeds (y) the Class A Available Funds. In the event that the difference between (x) the Class A Required Amount for such Distribution Date and (y) the amount of Excess Spread and Excess Finance Charge Collections applied with respect thereto pursuant to subsection 4.07(a) on such Distribution Date is greater than zero, the Servicer shall give written notice to the Transferors and the Trustee of such excess Class A Required Amount on the date of computation.

  • No Withdrawal No Person shall be entitled to withdraw any part of such Person’s Capital Contribution or Capital Account or to receive any Distribution from the Company, except as expressly provided in this Agreement.

Time is Money Join Law Insider Premium to draft better contracts faster.