Examples of Payment Mode in a sentence
Other Periodic Income Payment Mode elections will result in a modal adjustment of the Initial GIB Percentage.
A change by the Owner to the Access Period or to the Periodic Income Payment Mode will terminate the Guaranteed Income Benefit Option, if in effect.
Termination of the Guaranteed Income Benefit Option will be effective with the change in the Access Period or the change to the Periodic Income Payment Mode on the next Periodic Income Commencement Date anniversary.
After the deaths of both the Annuitant and the Secondary Life the revised annuity factor is based only upon, as of the Valuation Date of the Periodic Income Payment, the Periodic Income Payment Mode; the length of time remaining in the Access Period (See: Death Benefit, During the Access Period); and the Assumed Interest Rate.
On the last Valuation Date of the Access Period, the amount of the last Periodic Income Payment paid during the Access Period will be multiplied by 1000 and divided by an annuity factor which is based upon the age(s) and sex(es) of the Annuitant (and Secondary Life); the Periodic Income Payment Mode; the number of Periodic Income Payments remaining, if any, in the calendar year; an annual effective rate of interest not less than 0%; and the [1983 'a' Individual Mortality Table, modified].
Interest shall be payable on overdue principal on this bond and (to the extent legally enforceable) on any overdue installment of interest on this bond at the Post-Default Rate specified in the Indenture (or if not specified in a bond in Direct Payment Mode, as specified in the Direct Purchase Agreement applicable to such bond).
After the deaths of both the Annuitant and the Secondary Life the revised annuity factor is based only upon, as of the Valuation Date of the Periodic Income Payment, the Periodic Income Payment Mode; an Access Period (See: Death Benefit, During the Access Period); and the Assumed Interest Rate.
The Initial GIB Percentage Tables assume the annual Periodic Income Payment Mode.
Then the resulting annual modal amount will be converted into modal Periodic Income Payments by dividing the annual modal amount by 1000 and multiplying by a one year annuity factor reflecting the age(s) and sex(es) of the Annuitant (and Secondary Life); the Periodic Income Payment Mode; an annual effective rate of interest not less than 0%; and the 1983 `a' Individual Annuity Mortality Table, modified.
Finally, the resulting annual modal amount will be transferred to the General Account of LNL and converted into modal Periodic Income Payments by dividing the annual modal amount by 1000 and multiplying by a one year annuity factor reflecting the age(s) and sex(es) of the Annuitant (and Secondary Life); the Periodic Income Payment Mode; an annual effective rate of interest not less than 0%; and the 1983 `a' Individual Annuity Mortality Table, modified.