Additional Coverage Amount: RMDs for Qualified Accounts Sample Clauses

Additional Coverage Amount: RMDs for Qualified Accounts. If a Certificate Owner’s Covered Asset Pool is held in a Qualified Account, including a custodial XXX, and if the Certificate Owner’s RMD is calculated using only: (1) his or her age, (2) the IRS Uniform Lifetime table or, if applicable, the Joint Life and Survivor Expectancy table, (3) the value of the Certificate Owner’s Covered Asset Pool (including the present value of any additional benefits provided under the Certificate to the extent required to be taken into account under IRS guidance) and (4) amounts of required minimum distributions only for the current calendar year (no carry-over from past calendar years) is greater than the Coverage Amount, then each calendar year the Certificate Owner can make additional withdrawals from the Account, after the Lock-In Date, up to an amount that represents the difference between the RMD amount and the Coverage Amount, without causing an Excess Withdrawal. If the Certificate Owner withdraws or transfers less than the Additional Coverage Amount in a calendar year from his or her Covered Asset Pool, the unused portion cannot be carried over to the next calendar year. For purposes of determining the RMD amount, only assets held in the Certificate Owner’s Covered Asset Pool will be taken into account. Qualified Account assets held outside the Certificate Owner’s Covered Asset Pool will not be taken into account.
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Additional Coverage Amount: RMDs for Qualified Accounts. If the Covered Asset Pool is held in a Qualified Account and if the Certificate Owner’s (or the beneficial owner’s Qualified Account) RMD (for the purposes of determining the Additional Coverage Amount) is calculated using:
Sample 1

Related to Additional Coverage Amount: RMDs for Qualified Accounts

  • Additional Coverage To the extent that insurance coverage provided by Consultant maintains higher limits than the minimums appearing in Exhibit B, City requires and shall be entitled to coverage for higher limits maintained.

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  • Determination of Applicable Interest Rate As soon as practicable on each Interest Rate Determination Date, Bank shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.

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