ELECTION OF AN OPTION Sample Clauses

ELECTION OF AN OPTION. You may elect an option by Written Notice during the Insured's lifetime. The option must be elected before proceeds become payable. Assignees and third-party owners may elect an option only with our consent. Each payee under Options 4 and 5 must be a natural person. If Death Proceeds are payable, the beneficiary may elect a settlement option provided that:
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ELECTION OF AN OPTION. If your spouse is the sole surviving Owner, then the spouse may elect, in lieu of receiving the Cash Surrender Value and to the extent permitted by law, to continue this contract in force as the owner. The Cash Surrender Value payable under this provision will be calculated on the later of: The end of the Valuation Period during which we receive proof of death; and The end of the Valuation Period during which we receive signed notice of the owner's or Successor Owner's election to receive the Cash Surrender Value or a later date requested in that notice and agreed to by us.
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ELECTION OF AN OPTION. For proceeds payable under a settlement agreement, a settlement option in Section 11.2 may be elected as follows:
Sample 1
ELECTION OF AN OPTION. You may elect an option by Written Notice during the Insured's lifetime. The option must be elected before proceeds become payable. Assignees and third-party owners may elect an option only with our consent. Election of Option 4 may be made only if the payee is a natural person who is the Insured or a beneficiary. If Death Proceeds are payable, the beneficiary may elect a settlement option provided that: 1) The manner of settlement has not been restricted before the Insured's death; and 2) The Death Proceeds have not been paid. Election of an option is subject to these conditions: 1) Payments must not be less than $50; 2) Payments are made only at annual, semiannual, quarterly or monthly intervals; and 3) The first payment, except under Option 1 Interest Income, is payable as of the date the option becomes effective. Under Option 1, interest is payable at the end of the first payment interval. If the beneficiary does not receive Death Proceeds or elect a settlement option by the date one year after we receive proof of the Insured's death, Death Proceeds will then be calculated and applied under Option I - Interest Income. OPTION 3 Guaranteed Monthly Payments for Each $1,000 of Proceeds Years Monthly Years Monthly Years Monthly Years Monthly Years Monthly Payable Payment Payable Payment Payable Payment Payable Payment Payable Payment 1 84.65 7 13.37 13 7.93 19 5.96 25 4.96 2 43.05 8 11.89 14 7.48 20 5.75 26 4.84 3 29.19 9 10.75 15 7.10 21 5.56 27 4.73 4 22.26 10 9.83 16 6.76 22 5.39 28 4.62 5 18.11 11 9.08 17 6.46 23 5.23 29 4.53 6 15.34 12 8.46 18 6.20 24 5.09 30 4.44 Annual, Semiannual or Quarterly payments are 11.813, 5.957 and 2.991 respectively, times the Monthly payments. W3-VC-VUL-24 page 25 Contract Number: LV1234567 OPTION 4 Male Payee - Monthly Life Income GUARANTEED MONTHLY LIFE INCOME FOR EACH $1,000 OF PROCEEDS Adjusted Payments Payments Adjusted Payments Payments Age of Payee Guaranteed Guaranteed Age of Payee Guaranteed Guaranteed on Date of for for on Date of for for First Payment 10 years 20 years First Payment 10 years 20 years 40 3.86 3.82 65 5.80 5.16 45 4.09 4.02 66 5-94 5.22 50 4.38 4.26 67 6.08 5.28 68 6.23 5.33 55 4.74 4.54 69 6.38 5.38 60 5.20 4.85 70 6.54 5.43 61 5.31 4.91 71 6.71 5.48 62 5.42 4.97 72 6.87 5.52 63 5.54 5.04 73 7.05 5.55 64 5.67 5.10 74 7.22 5.59 Adjusted Payments Payments Age of Payee Guaranteed Guaranteed on Date of for for First Payment 10 years 20 years 75 7.40 5.62 76 7.57 5.64 77 7.75 5.65 78 7.92 5.65 79 8.09...
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ELECTION OF AN OPTION. You may elect an option by Written Notice during an Annuitant's lifetime. The option must be elected before the Annuity Date. Assignees and third-party owners may elect an option only with our consent. Each payee under Options 4, 4V, 5 and 5V must be a natural person who is an Annuitant, a Successor Owner or a beneficiary. If Death Proceeds or the Cash Surrender Value is payable upon the death of an owner (or an Annuitant if any owner is not a natural person), the payee may elect a settlement option provided that: The manner of settlement has not been restricted before the owner's death; The Death Proceeds or Cash Surrender Value has not been paid; and Either: The principal and earnings are completely distributed within 5 years after the date of death; or If the payee is a natural person who is a surviving owner or beneficiary, distribution of the principal and earnings is made by means of a periodic payment which: Begins within one year after the date of death; and Is made over the life of the payee or over a period not extending beyond the life expectancy of the payee. Election of an option is subject to these conditions: Payments must not be less than $50; and Payments are made only at annual, semiannual, quarterly or monthly intervals.
Sample 1
ELECTION OF AN OPTION. You may elect an option by Written Notice during the Annuitant's lifetime. The option must be elected before proceeds become payable. Assignees and third-party owners may elect an option only with our consent. Election of Options 4 or4V may be made only if the payee is a natural person who is the Annuitant or a beneficiary. If Death Proceeds are payable, the beneficiary may elect a settlement option other than Option 1 - Interest Income within one year from the date of death provided that:
Sample 1
ELECTION OF AN OPTION. You may elect an option by Written Notice during an Annuitant's lifetime. The option must be elected before the Annuity Date. Assignees and third-party owners may elect an option only with our consent. Each payee under Options 4, 4V, 5 and 5V must be a natural person who is an Annuitant, a Successor Owner or a beneficiary. If Death Proceeds or the Cash Surrender are payable upon the death of an owner, the payee may elect a settlement option provided that: The manner of settlement has not been restricted before the owner's death; The Death Proceeds or Cash Surrender Value has not been paid; and Either: The principal and interest are completely distributed within 5 years after the date of death; or If the payee is a natural person, distribution the principal and interest is made by means of a periodic which: Begins within one year after the date of death; and Is not guaranteed for a period which extends beyond the life expectancy of the payee. Election of an option is subject to these conditions: Payments must not be less than $50; and Payments are made only at annual, semiannual, quarterly or monthly intervals.
Sample 1
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ELECTION OF AN OPTION. If you surrender this contract for its Cash Surrender Value, you may elect a settlement option under which the surrender proceeds will be paid. Assignees and third-party owners may elect an option only with our consent. If Death Proceeds are payable, the beneficiary may elect a settlement option provided that:
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Related to ELECTION OF AN OPTION

  • Grant Award On and subject to the terms and conditions set forth herein, Triumph hereby agrees to make a grant (the “Grant”) to Grantee in the aggregate maximum amount of up to Two Hundred Thousand and 00/100 Dollars ($200,000.00) (the “Maximum Grant Amount”) to provide partial funding for the Project.

  • Allocation of Award The total Award made with respect to the Leased Property or for loss of rent, or for Lessor’s loss of business beyond the Term, shall be solely the property of and payable to Lessor. Any Award made for loss of Lessee’s business during the remaining Term, if any, for the taking of Lessee’s Personal Property, or for removal and relocation expenses of Lessee in any such proceedings shall be the sole property of and payable to Lessee. In any Condemnation proceedings Lessor and Lessee shall each seek its Award in conformity herewith, at its respective expense; provided, however, Lessee shall not initiate, prosecute or acquiesce in any proceedings that may result in a diminution of any Award payable to Lessor.

  • Notification of Award 2.28.1 Prior to the expiration of the period of tender validity, the Procuring entity will notify the successful tenderer in writing that its tender has been accepted.

  • Termination of Award In the event that the Employee shall forfeit all or a portion of the restricted stock units subject to the Award, the Employee shall promptly return this Agreement to the Company for cancellation. Such cancellation shall be effective regardless of whether the Employee returns this Agreement.

  • Time and Method of Payment Except as otherwise provided in Section 4.02, all amounts payable to any Funding Agent or Investor hereunder or with respect to the Series 2020-1 Class A-1 Advance Notes shall be made to the Administrative Agent for the benefit of the applicable Person, by wire transfer of immediately available funds in Dollars not later than 1:00 p.m. (New York City time) on the date due. The Administrative Agent will promptly, and in any event by 5:00 p.m. (New York City time) on the same Business Day as its receipt or deemed receipt of the same, distribute to the applicable Funding Agent for the benefit of the applicable Person, or upon the order of the applicable Funding Agent for the benefit of the applicable Person, its pro rata share (or other applicable share as provided herein) of such payment by wire transfer in like funds as received. Except as otherwise provided in Section 2.07 and Section 4.02, all amounts payable to the Swingline Lender or the L/C Provider hereunder or with respect to the Swingline Loans and L/C Obligations shall be made to or upon the order of the Swingline Lender or the L/C Provider, respectively, by wire transfer of immediately available funds in Dollars not later than 1:00 p.m. (New York City time) on the date due. Any funds received after that time will be deemed to have been received on the next Business Day. The Issuer’s obligations hereunder in respect of any amounts payable to any Investor shall be discharged to the extent funds are disbursed by the Issuer to the Administrative Agent as provided herein or by the Trustee or Paying Agent in accordance with Section 4.02 whether or not such funds are properly applied by the Administrative Agent or by the Trustee or Paying Agent. The Administrative Agent’s obligations hereunder in respect of any amounts payable to any Investor shall be discharged to the extent funds are disbursed by the Administrative Agent to the applicable Funding Agent as provided herein whether or not such funds are properly applied by such Funding Agent.

  • Award Agreement Each Option shall be evidenced by an Award Agreement that shall specify the Exercise Price, the expiration date of the Option, the number of Shares to which the Option pertains, any conditions to exercise of the Option, and such other terms and conditions as the Committee, in its discretion, shall determine. The Award Agreement shall specify whether the Option is intended to be an Incentive Stock Option or a Non-qualified Stock Option.

  • Service Award Named Plaintiff may apply to the Court for a service award of up to ten thousand dollars ($10,000). Subject to the Court’s approval, the service award shall be paid from the Settlement Fund ten (10) days after the Effective Date.

  • Award Distribution (a) In the event of any partial taking of any Leased Property, the entire Award shall belong to and be paid to Lessor, except that, subject to the rights of the Facility Mortgagees, Tenant shall be entitled to receive from the Award, if and to the extent such Award specifically includes such item, the following:

  • The Award All compensation awarded for any taking, whether for the whole or a portion of the Leased Premises, shall be the sole property of the Landlord whether such compensation shall be awarded for diminution in the value of, or loss of, the leasehold or for diminution in the value of, or loss of, the fee in the Leased Premises, or otherwise. The Tenant hereby assigns to Landlord all of Tenant's right and title to and interest in any and all such compensation. However, the Landlord shall not be entitled to and Tenant shall have the sole right to make its independent claim for and retain any portion of any award made by the appropriating authority directly to Tenant for loss of business, or damage to or depreciation of, and cost of removal of fixtures, personalty and improvements installed in the Leased Premises by, or at the expense of Tenant, and to any other award made by the appropriating authority directly to Tenant.

  • Change in Option Price or Rate of Conversion If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exercise or exchange of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exercisable or exchangeable for shares of Common Stock increases or decreases at any time, the Exercise Price in effect at the time of such increase or decrease shall be adjusted to the Exercise Price which would have been in effect at such time had such Options or Convertible Securities provided for such increased or decreased purchase price, additional consideration or increased or decreased conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(b)(iii), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of this Warrant are increased or decreased in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the shares of Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such increase or decrease. No adjustment pursuant to this Section 2(b) shall be made if such adjustment would result in an increase of the Exercise Price then in effect.

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