POLICY LOAN ACCOUNT definition

POLICY LOAN ACCOUNT. The Policy Loan Account is that portion of the Cash Value which results from policy loans.
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POLICY LOAN ACCOUNT. That portion of the cash value resulting from a policy loan.
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POLICY LOAN ACCOUNT is the account to which we will transfer the amount of any policy loan from the Fixed and Separate Accounts.
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Examples of POLICY LOAN ACCOUNT in a sentence

  • POLICY LOAN ACCOUNT: The Policy Loan Account is that portion of the Cash Value which results from policy loans.

  • POLICY LOAN ACCOUNT: The Policy Loan Account is that portion of the Cash Value resulting from Policy Loans.


More Definitions of POLICY LOAN ACCOUNT

POLICY LOAN ACCOUNT. The "Policy Loan Account" is described in the "Policy Loans" section of this Policy.
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POLICY LOAN ACCOUNT is described in the "Policy Loans" section of this Policy.
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POLICY LOAN ACCOUNT. The value in the policy loan account is zero, unless you take a policy loan. On the business day a policy loan is taken, the value in the policy loan account is equal to the amount of the loan. The value in the policy loan account on each subsequent business day is equal to:
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POLICY LOAN ACCOUNT. The Policy Loan Account is that portion of the Cash Value which results from policy loans. RIDER: A Rider is an optional benefit or feature available for purchase with the policy. SEC: SEC is the Securities and Exchange Commission.
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POLICY LOAN ACCOUNT. The value in the policy loan account is zero, unless you take a policy loan. On the business day a policy loan is taken, the value in the policy loan account is equal to the amount of any previous loans with accrued interest plus the amount of the requested loan. The value in the policy loan account on each subsequent business day is equal to: 1) the value in the policy loan account on the preceding business day; plus 2) guaranteed interest credited; plus 3) any amounts transferred to the policy loan account because of additional policy loans; plus 4) any due and unpaid loan interest during the current business day; less 5) the amount of any loan repayments you make during the current business day.
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Related to POLICY LOAN ACCOUNT

  • Project Loan Account means any of the Accounts within the Project Fund so designated and established by Article V.

  • Loan Account has the meaning set forth in Section 2.10.

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Borrower’s Account shall have the meaning set forth in Section 2.8.

  • Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

  • Insurance Proceeds Account has the meaning given to such term in the Accounts Agreement.

  • Custodian Account means an account subject to a Custodian Agreement.

  • Lender’s Account means the account identified in Schedule L-1.

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Borrower Loan Agreement means this Borrower Loan Agreement.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Tower Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Linked Account means any controlled disbursement account, controlled balance account or other deposit account maintained by a Collection Account Bank for the Parent, the Performance Guarantor, the Servicer, any Originator or any Affiliate thereof and linked to any Collection Account by a zero balance account connection or other automated funding mechanism or controlled balance arrangement.

  • Revolving Advance has the meaning given in Section 2.1.

  • Revolving Loan Agreement means that certain Revolving Credit and Security Credit Agreement dated as of the Closing Date by and among Revolving Loan Agent, the Revolving Loan Lenders and the Loan Parties, as amended, restated or otherwise modified from time to time to the extent not prohibited by the Intercreditor Agreement.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under the sole dominion and control of the Administrative Agent.

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Servicer Advance or "Servicing Advance" as defined in the applicable Purchase and Servicing Agreement.

  • Subservicer Advance Any delinquent installment of principal and interest on a Mortgage Loan which is advanced by the related Subservicer (net of its Subservicing Fee) pursuant to the Subservicing Agreement.

  • Excess Loss Account has the meaning set forth in Reg. Section 1.1502-19.

  • Provider Advance means a Downgrade Advance or a Non-Extension Advance.

  • Loss Proceeds Account has the meaning set forth in Section 3.3(a).

  • Facility Account means the Seller’s Account No. 55-66681 at Bank One.

  • Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.