Minimum Withdrawal Amount definition

Minimum Withdrawal Amount means $1,000 or any other sum that the Responsible Entity determines from time to time. The Responsible Entity may determine a different sum for different applicants or for different Classes.
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Minimum Withdrawal Amount. [$300], unless the withdrawal is made pursuant to Our systematic withdrawal program, in which case the minimum withdrawal is [$100]. MINIMUM CERTIFICATE VALUE WHICH MUST REMAIN AFTER A PARTIAL WITHDRAWAL: [$2,500]. DEATH BENEFITS ADJUSTMENT OF CERTIFICATE VALUE When We receive due proof of death of the Certificate Owner, [any Joint Certificate Owner,] or the Annuitant if the Certificate Owner is a non-natural Person, We will compare, as of the date of death, the Certificate Value to the Death Benefit amount defined in the Certificate Schedule. If the Certificate Value is less than the Death Benefit, We will increase the current Certificate Value by the amount of the difference. Any amount credited will be allocated to the Variable Account [and/or the Fixed Account] based on the Purchase Payment allocation selection that is in effect when We receive due proof of death. [WAIVER OF SURRENDER CHARGES If the Certificate is surrendered within [90] days of the date of death of the Certificate Owner, [any Joint Certificate Owner,] or the Annuitant if the Certificate Owner is a non-natural Person, any applicable surrender charges will not be deducted from the Certificate Withdrawal Value.] DEATH BENEFIT AMOUNT A Certificate Schedule will contain one [or more] of the following Death Benefit provisions. [PURCHASE PAYMENT DEATH BENEFIT On the Certificate Date the Death Benefit is the initial Purchase Payment. On subsequent Valuation Dates, the Death Benefit is calculated as follows:
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Minimum Withdrawal Amount. The minimum amounts that may be withdrawn from your Contract are shown in the Contract Specifications. If the Withdrawal reduces the Account Value in any Investment Option to an amount less than the Minimum Investment Option Value, we reserve the right to Transfer the remaining Account Value to your other Investment Options on a pro-rata basis according to your most recent allocation instructions. If any Withdrawal reduces the Contract Value to an amount less than or equal to the Minimum Contract Value to Avoid Contract Termination, we may terminate the Contract and pay you the Withdrawal proceeds (see Full Withdrawal provision). We will not terminate the Contract for this reason if you own a Guaranteed Minimum Withdrawal Benefit (GMWB) Rider.
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Examples of Minimum Withdrawal Amount in a sentence

  • The amount must be equal to or more than the Minimum Withdrawal Amount.

  • No Exit Charge is payable on such Partial Withdrawal provided that (i) the number of Units to be deducted must aggregate to a dollar value equal to or more than the Minimum Withdrawal Amount, based on the relevant indicative Bid Price; and (ii) the Trust Plan Value does not fall below the Minimum Trust Plan Value.

  • Minimum Withdrawal Amount The minimum withdrawal amount is $10,000.

  • No withdrawal can be made where the amount specified to be withdrawn is less than the Minimum Withdrawal Amount.

  • Terms and conditions for withdrawals The Responsible Entity is not required to give effect to a withdrawal request if it is for less than the Minimum Withdrawal Amount determined by the Responsible Entity from time to time and does not relate to the balance of an investor’s investment.

  • For the purposes of this Clause, the Minimum Withdrawal Amount is currently set at SGD3,000 and we reserve the right to change this amount from time to time.

  • RMD Election continued** Please note: Loomis Sayles Funds use the following formula to calculate the life expectancy distribution: Value of IRA / Life Expectancy Factor = Minimum Withdrawal Amount.

  • Switches Subject to the qualifications below, a Shareholder may exchange all or part of their investment in one Fund for an investment in another Fund (if there are any) of the Company provided that in doing so, the Shareholder maintains at least the minimum holding in each of the Funds that they wish to invest or continue to invest in and the amount ‘Switched’ is not less than either the Minimum Withdrawal Amount from the Fund ‘Switched from’ or the Minimum Investment Amount in the Fund ‘Switched to’.

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  • Switches Subject to the qualifications below, a Shareholder may exchange all or part of their investment in one Fund for an investment in another Fund of the Company provided that in doing so, the Shareholder maintains at least the minimum holding in each of the Funds that they wish to invest or continue to invest in and the amount ‘Switched’ is not less than either the Minimum Withdrawal Amount from the Fund ‘Switched from’ or the Minimum Investment Amount in the Fund ‘Switched to’.


More Definitions of Minimum Withdrawal Amount

Minimum Withdrawal Amount. The minimum amounts that may be withdrawn from your Contract are shown in the Contract Specifications. The Minimum Withdrawal Amount does not apply to Advisory Fee Withdrawals. If a Withdrawal reduces the Account Value in any Investment Option to an amount less than the Minimum Investment Option Value, we may Transfer the remaining Account Value to your other Investment Options on a pro-rata basis according to your most recent allocation instructions.
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Minimum Withdrawal Amount. The minimum amounts that may be withdrawn from your Contract are shown in the Contract Specifications. The Minimum Withdrawal Amount does not apply to Advisory Fee Withdrawals. If a Withdrawal reduces the Account Value in any Investment Option to an amount less than the Minimum Investment Option Value, we reserve the right to Transfer the remaining Account Value to your other Investment Options on a pro-rata basis according to your most recent allocation instructions. If any Withdrawal reduces the Contract Value to an amount less than or equal to the Minimum Contract Value to Avoid Contract Termination, we may terminate the Contract and pay you the Withdrawal proceeds (see Full Withdrawal provision). We will not terminate the Contract for this reason if you own an optional benefit Rider.
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Related to Minimum Withdrawal Amount

  • Free Withdrawal Amount ’ means an amount equal to the percentage, stated in the Data Pages, of the Annuity Account Value, minus the total of all prior withdrawals (and associated Withdrawal Charges) made as described in Section 5.01 in the current Contract Year that may be withdrawn each Contract Year without incurring a Withdrawal Charge. We have the right to change the Free Withdrawal Amount, but it will always be a percentage between 5% and 30% if so provided in the Data Pages.

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • Cash Withdrawal means a disbursement of funds in any currency from any Account out of the balance in your favour (whether or not in the form of cash) made or obtained through or in connection with any Citibank ATM/ Debit Card.

  • Withdrawal Value means a Participant's Account Value minus the applicable Withdrawal Charge. (transfer from original GRA VII NBR/GRA VI NBR -- Series I) P-14020(SBR)(MBR)(NBR)conv.6

  • Withdrawal Period as defined in Section 10.13(b).

  • Final Withdrawal Has the meaning specified in the Escrow Agreement.

  • Minimum Balance means, at any time, an amount that equals the product of: (a) the average Borrowing Base (or, if less on any given day, the Revolving Loan Commitment) during the immediately preceding month multiplied by (b) the Minimum Balance Percentage for such month.

  • Excess Withdrawal is a withdrawal of Account Value that exceeds the Free Withdrawal Amount. This term may not apply to your Contract.

  • Final Withdrawal Date Has the meaning specified in the Escrow Agreement.

  • Single Withdrawal Tranche means the amount of the Loan allocated to the category entitled “Single Withdrawal Tranche” in the table set forth in Part B of Section II of Schedule 1 to this Agreement.

  • Minimum Cash Balance means $10,000,000 minus (i) $500,000, (ii) any amounts to be paid to holders of Allowed Ongoing Trade Claims of New Permian Corp., and (iii) any amounts to be paid to holders of Allowed Cure Amounts pursuant to Section 8.4(ii).

  • Suspension/Withdrawal Event means, in respect of the Benchmark:

  • Suspension/Withdrawal Event means, in respect of the Benchmark:

  • EU withdrawal agreement means the withdrawal agreement within the meaning of the European Union (Withdrawal Agreement) Act 2020 (see section 39(1) and (6) of that Act).”,

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarial equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or Qualified Joint and Survivor Annuity) to which the Participant would be entitled under the terms of the Plan assuming:

  • Required Amount shall have the meaning set forth in Section 4.8.

  • Market Withdrawal means a Person’s Removal or Correction of a distributed product which involves a minor violation that would not be subject to legal action by the FDA or which involves no violation, e.g., normal stock rotation practices, routine equipment adjustments and repairs, etc.

  • Residual Amount means for any Weekly Allocation Date with respect to any Quarterly Collection Period the amount, if any, by which the amount allocated to the Collection Account on such Weekly Allocation Date exceeds the sum of the amounts to be paid and/or allocated on such Weekly Allocation Date pursuant to priorities (i) through (xxviii) of the Priority of Payments.

  • Class C Required Amount means with respect to any Payment Date, an amount equal to the excess of the amount described in Section 4.4(a)(v) over Available Finance Charge Collections applied to pay such amount pursuant to Section 4.4(a).

  • Maximum Uncertificated Accrued Interest Deferral Amount With respect to any Distribution Date, the excess of (i) accrued interest at the Uncertificated REMIC II Pass-Through Rate applicable to REMIC II Regular Interest ZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC II Regular Interest ZZ minus the REMIC II Overcollateralization Amount, in each case for such Distribution Date, over (ii) the aggregate amount of Uncertificated Accrued Interest for such Distribution Date on the REMIC II Regular Interests (other than REMIC II Regular Interests AA, ZZ and IO), with the rate on each such REMIC II Regular Interest (other than REMIC II Regular Interests B-1, B-2, B-3 and B-4) subject to a cap equal to the least of (x) the One-Month LIBOR Pass Through Rate for the Corresponding Certificate, (y) 11.00% per annum and (z) the Net WAC Cap Rate for the REMIC III Regular Interest the ownership of which is represented by the Corresponding Certificate for the purpose of this calculation for such Distribution Date, and with the rate on each of the REMIC II Regular Interests B-1, B-2, B-3 and B-4 subject to a cap equal to the lesser of (i) the per annum fixed rate specified in the definition of “Pass-Through Rate” for the Corresponding Certificate, and (ii) the related Net WAC Cap Rate for the REMIC III Regular Interest the ownership of which is represented by the Corresponding Certificate for the purpose of this calculation for such Distribution Date; provided, however, that solely for this purpose, the related cap with respect to each REMIC II Regular Interest (other than REMIC II Regular Interests AA, ZZ, B-1, B-2, B-3, B-4 and IO) shall be multiplied by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.

  • Required Daily Deposit Target Principal Amount means, for any day in a Due Period, (i) if such Due Period is in [the Accumulation Period for the Class A( - ) Notes, the Accumulation Amount], (ii) if such day is on or after the occurrence and during the continuance of a Class A( - ) Adverse Event, the Nominal Liquidation Amount of the Class A( - ) Notes, and (iii) in all other circumstances, zero.

  • Contract Minimum Investment Requirement means, with respect to the Project, investment by the Company and any Sponsor Affiliates of at least $4,000,000 in Economic Development Property subject (non-exempt) to ad valorem taxation (in the absence of this Fee Agreement).

  • Minimum Contract Value means 10% of the Maximum Contract Value.

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 5.0%.