Common use of Deferment Clause in Contracts

Deferment. The use of proceeds to provide a payment of a Death Benefit and payment of any portion of the Annuity Account Value (less any Withdrawal Charge that applies) will be made within seven days after the Transaction Date of the request. Payments or proceeds from the Investment Options can be deferred for any period during which (1) any of the stock exchanges is closed or trading is restricted, (2) sales of securities or determination of the fair value of an Investment Option’s assets is not reasonably practicable because of an emergency, or (3) the Securities and Exchange Commission, by order, permits us to defer payment in order to protect persons with interests in the Investment Options.

Appears in 10 contracts

Samples: Equitable Financial Life Insurance Co, Equitable America Variable Account No.70A, Separate Acct No 49 of Axa Equitable Life Insurance Co

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Deferment. The use of proceeds to provide a payment of a Death Benefit death benefit and payment of any portion of the Annuity Account Value (less any Withdrawal Charge that applies) will be made within seven days after the Transaction Date of the requestDate. Payments or use of proceeds from the Variable Investment Options can be deferred for any period during which (1) any of the stock exchanges New York Stock Exchange is closed or trading is restricted, (2) sales of securities or determination of the fair value of an Variable Investment Option’s 's assets is not reasonably practicable because of an emergency, or (3) the Securities and Exchange Commission, by order, permits us to defer payment in order to protect persons with interests in the Variable Investment Options.

Appears in 2 contracts

Samples: Separate Account a of Axa Equitable Life Insurance Co, Separate Account a of Axa Equitable Life Insurance Co

Deferment. The use of proceeds to provide a payment of a Death Benefit death benefit and payment of any portion of the Annuity Account Value (less any Withdrawal Charge that applies) will be made within seven days after the Transaction Date of the requestDate. Payments or use of proceeds from the Investment Options Funds can be deferred for any period during which (1) any of the stock exchanges New York Stock Exchange is closed or trading is restricted, (2) sales of securities or determination of the fair value of an Investment Option’s Fund's assets is not reasonably practicable because of an emergency, or (3) the Securities and Exchange Commission, by order, permits us to defer payment in order to protect persons with interests in the Investment OptionsFunds.

Appears in 2 contracts

Samples: Separate Account Va of the Equitable of Colorado Inc, Separate Account Va of the Equitable of Colorado Inc

Deferment. The use of proceeds to provide a payment of a Death Benefit and payment of any portion of the Annuity Account Value (less any Withdrawal Charge that applies) will be made within seven days after the Transaction Date of the request. Payments or proceeds from the Variable Investment Options can be deferred for any period during which (1) any of the stock exchanges is closed or trading is restricted, (2) sales of securities or determination of the fair value of an a Variable Investment Option’s assets is not reasonably practicable because of an emergency, or (3) the Securities and Exchange Commission, by order, permits us to defer payment in order to protect persons with interests in the Variable Investment Options. We can defer payment or transfer of any portion of the Annuity Account Value in the Guaranteed Interest Option for up to six months while you are living.

Appears in 1 contract

Samples: Variable Account AA

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Deferment. The use of proceeds to provide a payment of a Death Benefit and payment of any portion of the Annuity Account Value (less any Withdrawal Charge that applies) will be made within seven days after the Transaction Date of the request. Payments or proceeds from the Investment Options can be deferred for any period during which (1) any of the stock exchanges is closed or trading is restricted, (2) sales of securities or determination of the fair value of an Investment Option’s 's assets is not reasonably practicable because of an emergency, or (3) the Securities and Exchange Commission, by order, permits us to defer payment in order to protect persons with interests in the Investment Options.

Appears in 1 contract

Samples: Separate Acct No 49 of Axa Equitable Life Insurance Co

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