Contract Fund Value Clause Samples

The 'Contract Fund Value' clause defines the total monetary worth accumulated within a contract, typically in the context of insurance or investment agreements. It specifies how the fund value is calculated, often based on premiums paid, investment returns, and deductions for fees or charges. This clause ensures transparency for both parties by clarifying how the value of the contract is determined at any given time, which is essential for benefit payouts, withdrawals, or policy surrenders.
Contract Fund Value. On any day after the change to the Paid-up Option, the Contract Fund Value is equal to what it was on the previous day plus any of these items applicable for the current day: • interest on the Contract Fund Value; • any loan repayment and accrued loan interest payment made; and • any Policy dividend directed to increase the Policy Value; minus any of these items applicable to the Contract Fund Value for the current day: • Monthly Policy Charge; • Policy loans; • withdrawals; and • service charges.
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Contract Fund Value. The Contract Fund Value is the sum of the Investment Account and the NM Strength and Stability Account. At no time does the Contract Fund Value include Policy Debt. On the Policy Date the Contract Fund Value is equal to the Net Premium less the Monthly Policy Charge. On any day after the Policy Date, the Contract Fund Value is equal to what it was on the previous Valuation Date plus any of these items applicable for the current Valuation Date: • any increase due to investment results (as described in Section 8.6) for the portion of the Investment Account invested in Divisions with a positive rate of return for the current Valuation Period; • any increase due to interest credited (as described in Section 7.2) on the portion of the Contract Fund Value invested in the NM Strength and Stability Account since the previous Valuation Date. • any Net Premium; • any loan repayment and accrued loan interest payment; and • any dividend directed to increase the Contract Fund Value; less any of these items applicable for the current Valuation Date: • any decrease due to investment results (Section 8.6) for the portion of the Investment Account invested in Divisions with a negative rate of return for the current Valuation Period; • the Monthly Policy Charge (Section 8.4); • Policy loans (Section 10.1); • withdrawals (Section 10.5); and • service charges (Section 8.5). The Monthly Policy Charge, Policy loans, withdrawals, and service charges will be deducted from the Contract Fund Value. The Monthly Policy Charge and service charges will be deducted proportionately from the Divisions and the NM Strength and Stability Account. The Monthly Policy Charge and service charges deducted from the NM Strength and Stability Account will first be deducted from the Tier Two Balance, if any. Any portion of the Monthly Policy Charge and service charges deducted from the NM Strength and Stability Account and not deducted from the Tier Two Balance will be deducted from the Tier One Balance. Policy loans and withdrawals will be deducted as described in Sections 10.1 and 10.5.
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Contract Fund Value. The Contract Fund Value is the sum of the Investment Account and any fixed account option that may be added by amendment by the Company, if the amendment is approved by the New York Department of Financial Services. At no time does the Contract Fund Value include Policy Debt. On the Policy Date the Contract Fund Value is equal to the Net Premium less the Monthly Policy Charge. On any day after the Policy Date, the Contract Fund Value is equal to what it was on the previous Valuation Date plus any of these items applicable for the current Valuation Date: · any increase due to investment results (as described in Section 7.6) for the portion of the Investment Account invested in Divisions with a positive rate of return for the current Valuation Period; · any Net Premium; · any loan repayment and accrued loan interest payment; and · any dividend directed to increase the Contract Fund Value; less any of these items applicable for the current Valuation Date: · any decrease due to investment results (Section 7.6) for the portion of the Investment Account invested in Divisions with a negative rate of return for the current Valuation Period; · the Monthly Policy Charge (Section 7.4); · Policy loans (Section 9.1); · withdrawals (Section 9.5); and · service charges (Section 7.5). The Monthly Policy Charge, Policy loans, withdrawals, and service charges will be deducted from the Contract Fund Value. The Monthly Policy Charge and service charges will be deducted proportionately from the Divisions. Policy loans and withdrawals will be deducted as described in Sections 9.1 and 9.5.
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Contract Fund Value. The Contract Fund Value for the LTG Fixed Account on the Contract Issue Date is equal to the Net Purchase Payment. On any day after the Contract Issue Date, the Contract Fund Value is equal to (a) multiplied by (b), and the result reduced by (c), where: (a) is the previous day’s Contract Fund Value; and (b) is the sum of one (1) plus the daily interest rate equivalent of the Guaranteed Interest Rate; and (c) is any Contract Fund Value Reduction made on the valuation day.
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Related to Contract Fund Value

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  • Collateral Fund Permitted Investments The Company shall, at the written direction of the Purchaser, invest the funds in the Collateral Fund in Collateral Fund Permitted Investments. Such direction shall not be changed more frequently than quarterly. In the absence of any direction, the Company shall select such investments in accordance with the definition of Collateral Fund Permitted Investments in its discretion. All income and gain realized from any investment as well as any interest earned on deposits in the Collateral Fund (net of any losses on such investments) and any payments of principal made in respect of any Collateral Fund Permitted Investment shall be deposited in the Collateral Fund upon receipt. All costs and realized losses associated with the purchase and sale of Collateral Fund Permitted Investments shall be borne by the Purchaser and the amount of net realized losses shall be deposited by the Purchaser in the Collateral Fund promptly upon realization. The Company shall periodically (but not more frequently than monthly) distribute to the Purchaser upon request an amount of cash, to the extent cash is available therefore in the Collateral Fund, equal to the amount by which the balance of the Collateral Fund, after giving effect to all other distributions to be made from the Collateral Fund on such date, exceeds the Required Collateral Fund Balance. Any amounts so distributed shall be released from the lien and security interest of this Agreement.

  • Carry Forward to a Subsequent Year If you do not withdraw the excess contribution, you may carry forward the contribution for a subsequent tax year. To do so, you under-contribute for that tax year and carry the excess contribution amount forward to that year on your tax return. The six percent excess contribution penalty tax will be imposed on the excess amount for each year that it remains as an excess contribution at the end of the year. You must file IRS Form 5329 along with your income tax return to report and remit any additional taxes to the IRS.

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • Certificate Account and Special Payments Account (a) The Trustee shall establish and maintain on behalf of the Certificateholders of each series a Certificate Account as one or more non-interest-bearing accounts. The Trustee shall hold such Certificate Account in trust for the benefit of the Certificateholders of such series, and shall make or permit withdrawals therefrom only as provided in this Agreement. On each day when a Scheduled Payment is made to the Trustee (under an Intercreditor Agreement, if applicable) with respect to the Certificates of such series, the Trustee, upon receipt thereof, shall immediately deposit the aggregate amount of such Scheduled Payment in such Certificate Account. (b) The Trustee shall establish and maintain on behalf of the Certificateholders of each series a Special Payments Account as one or more accounts, which shall be non-interest bearing except as provided in Section 4.04. The Trustee shall hold the Special Payments Account in trust for the benefit of the Certificateholders of such series and shall make or permit withdrawals therefrom only as provided in this Agreement. On each day when one or more Special Payments are made to the Trustee (under an Intercreditor Agreement, if applicable) with respect to the Certificates of such series, the Trustee, upon receipt thereof, shall immediately deposit the aggregate amount of such Special Payments in such Special Payments Account. (c) The Trustee shall present (or, if applicable, cause the Subordination Agent to present) to the related Loan Trustee of each Equipment Note such Equipment Note on the date of its stated final maturity or, in the case of any Equipment Note which is to be redeemed in whole pursuant to the related Indenture, on the applicable redemption date under such Indenture.