Income Base Sample Clauses

Income Base. The Income Base is used solely for the purpose of calculating the amount of the Guaranteed Retirement Income Benefit and the Rider Fee. It does not provide a Contract Value or guarantee performance of any investment option. Income Base o On the Rider Date, the Income Base is equal to the Contract Value.
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Income Base. The Income Base will be the greater of Income Base A or Income Base B, described below. The Income Base is used solely for the purpose of calculating the amount of the Guaranteed Retirement Income Benefit and the Rider Fee. It does not provide a Contract Value or guarantee performance of any investment option. Income Base A o On the Rider Date, Income Base A is equal to the Contract Value.
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Income Base. Prior to the Guaranteed Withdrawal Lock-In Date, on each Valuation Date the Income Base of a Participant B[or Eligible Spouse] equals the B[Highest Birthday Value] A & B[Roll-Up Value] B[greater of the Highest Birthday Value and the A& B[Roll-Up Value]] as of the Valuation Date immediately prior. Prior to the Guaranteed Withdrawal Lock-In Date, the Income Base is determined only for reference. On the Guaranteed Withdrawal Lock-In Date, the Income Base of a Participant B[or Eligible Spouse] equals the B[greatest/greater] of his or her:
Sample 1Sample 2
Income Base. The Income Base will be the greater of Income Base A or Income Base B, described below. The Income Base is used solely for the purpose of calculating the amount of the Guaranteed Retirement Income Benefit and the Rider Fee. It is not available as a Contract Value, Settlement Value, or Death Benefit, nor is it used in the calculation of such values. Also, it does not guarantee performance of any investment option. Income Base A * On the Rider Date, Income Base A is equal to the Contract Value. * After the Rider Date, Income Base A will accumulate interest daily at a rate equivalent to 5% per year and is recalculated each time a purchase payment or withdrawal is made as follows: * for purchase payments, Income Base A is equal to the most recently calculated Income Base plus the purchase payment. * for withdrawals, Income Base A is equal to the most recently calculated Income Base A reduced by a withdrawal adjustment, as defined below. * The accumulation will continue until the first Contract anniversary following the 85th birthday of either the oldest Owner or the oldest Annuitant, whichever is earlier. After the first Contract anniversary following 85th birthday of either the oldest Owner or the oldest Annuitant, whichever is earlier, Income Base A will be recalculated only for purchase payments and withdrawals. Income Base A will not exceed the amount equal to: * 200% of the Contract Value as of the Rider Date; plus * 200% of any purchase payments made after the Rider Date (excluding purchase payments made in the twelve-month period immediately prior to the Payout Start Date); minus * withdrawal adjustments for any withdrawals made after the Rider Date. Withdrawal Adjustment for Income Base A
Sample 1Sample 2
Income Base. The Income Base is used solely for the purpose of calculating the amount of the Guaranteed Retirement Income Benefit and the Rider Fee. It is not available as a Contract Value, Settlement Value, or Death Benefit, nor is it used in the calculation of such values. Also, it does not guarantee performance of any investment option. Income Base * On the Rider Date, the Income Base is equal to the Contract Value. * After the Rider Date, the Income Base will accumulate interest daily at a rate equivalent to 5% per year and is recalculated each time a purchase payment or withdrawal is made as follows: * for purchase payments, the Income Base is equal to the most recently calculated Income Base plus the purchase payment. * for withdrawals, the Income Base is equal to the most recently calculated Income Base reduced by a withdrawal adjustment, as defined below. * The accumulation will continue until the first Contract anniversary following the 85th birthday of either the oldest Owner or the oldest Annuitant, whichever is earlier. After the first Contract Anniversary following the 85th birthday of either the oldest Owner or the oldest Annuitant, whichever is earlier, the Income Base will be recalculated only for purchase payments and withdrawals. The Income Base will not exceed the amount equal to: * 200% of the Contract Value as of the Rider Date; plus * 200% of any purchase payments made after the Rider Date (excluding purchase payments made in the twelve-month period immediately prior to the Payout Start Date); * minus withdrawal adjustments for any withdrawals made after the Rider Date. Withdrawal Adjustment
Sample 1Sample 2
Income Base. Prior to the Guaranteed Withdrawal Lock-In Date, on each Valuation Date the Income Base of a Participant [or Eligible Spouse] equals the [Highest Birthday Value] [ Roll-Up Value] [greater of the Highest Birthday Value and the [Roll-Up Value]] as of the Valuation Date immediately prior. Prior to the Guaranteed Withdrawal Lock-In Date, the Income Base is determined only for reference. On the Guaranteed Withdrawal Lock-In Date, the Income Base of a Participant [or Eligible Spouse] equals the [greatest/greater] of his or her:
Sample 1Sample 2
Income Base. The Income Base is used solely for the purpose of calculating the amount of the Guaranteed Retirement Income Benefit and the Rider Fee. It is not available as a Contract Value, Settlement Value, or Death Benefit, nor is it used in the calculation of such values. Also, it does not guarantee performance of any investment option. Income Base * On the Rider Date, the Income Base is equal to the Contract Value. * After the Rider Date, the Income Base will accumulate interest daily at a rate equivalent to 5% per year and is recalculated each time a purchase payment or withdrawal is made as follows: * for purchase payments, the Income Base is equal to the most recently calculated Income Base plus the purchase payment and its associated Credit Enhancement. * for withdrawals, the Income Base is equal to the most recently calculated Income Base reduced by a withdrawal adjustment, as defined below. * The accumulation will continue until the first Contract anniversary following the 85th birthday of either the oldest Owner or the oldest Annuitant, whichever is earlier. After the first Contract Anniversary following the 85th birthday of either the oldest Owner or the oldest Annuitant, whichever is earlier, the Income Base will be recalculated only for purchase payments and withdrawals. The Income Base will not exceed the amount equal to: * 200% of the Contract Value as of the Rider Date; plus * 200% of any purchase payments and associated Credit Enhancements made after the Rider Date (excluding purchase payments and associated Credit Enhancements made in the twelve-month period immediately prior to the Payout Start Date); minus * withdrawal adjustments for any withdrawals made after the Rider Date.
Sample 1
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Income Base. An Annuitant’s Income Base is used to calculate the GAI and the GWB charge. On the GWB Effective Date an Annuitant’s Income Base is equal to the AAV. Maximum Income Base The guaranteed amounts of the combined Income Bases for all Company annuity contracts, including individual contracts or group annuity certificates with an affiliated company, for which the Annuitant and Secondary Life, if applicable, is a Measuring Life, is subject to the Maximum Income Base noted on the Contract Specifications page. AN-701 9
Sample 1
Income Base. An Annuitant's Income Base is used to calculate the GAI and the GWB charge. On the GWB Effective Date an Annuitant's Income Base is equal to the AAV. MAXIMUM INCOME BASE The guaranteed amounts of the combined Income Bases for all Company annuity contracts, including individual contracts or group annuity certificates with an affiliated company, for which the Annuitant and Secondary Life, if applicable, is a Measuring Life, is subject to the Maximum Income Base noted on the Contract Specifications page. ADJUSTMENT TO THE INCOME BASE FOR ADDITIONAL DEPOSITS If an additional Deposit is accepted, an Annuitant's Income Base will be increased to equal the additional Deposit plus an Annuitant's Income Base immediately prior to receipt of the additional Deposit. ADJUSTMENT TO THE INCOME BASE FOR WITHDRAWALS Upon each Excess Withdrawal, an Annuitant's Income Base will be reduced in the same proportion that the Excess Withdrawal reduced the AAV. Upon each Conforming Withdrawal an Annuitant's Income Base will not be reduced. AUTOMATIC ANNUAL STEP-UP OF THE INCOME BASE Following an Annuitant's GWB Effective Date, an Automatic Annual Step-Up of an Annuitant's Income Base to equal the AAV may only occur on the Valuation Date immediately prior to the Benefit Year Anniversary, if the following condition(s) is/are satisfied:
Sample 1

Related to Income Base

  • Average Annual Compensation The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level of compensation paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of the Employers.

  • Determination of Net Asset Value, Net Income and Distributions Subject to applicable federal law including the 1940 Act and Section 3.6 hereof, the Trustees, in their sole discretion, may prescribe (and delegate to any officer of the Trust or any other Person or Persons the right and obligation to prescribe) such bases and time (including any methodology or plan) for determining the per Share or net asset value of the Shares of the Trust or any Series or Class or net income attributable to the Shares of the Trust or any Series or Class, or the declaration and payment of dividends and distributions on the Shares of the Trust or any Series or Class and the method of determining the Shareholders to whom dividends and distributions are payable, as they may deem necessary or desirable. Without limiting the generality of the foregoing, but subject to applicable federal law including the 1940 Act, any dividend or distribution may be paid in cash and/or securities or other property, and the composition of any such distribution shall be determined by the Trustees (or by any officer of the Trust or any other Person or Persons to whom such authority has been delegated by the Trustees) and may be different among Shareholders including differences among Shareholders of the same Series or Class.

  • Share Class Annual Compensation Rate Class R-1 1.00% Class R-2 0.75% Class R-2E 0.60% Class R-3 0.50% Class R-4 0.25% Class R-5 No compensation paid Class R-5E No compensation paid Class R-6 No compensation paid

  • Annual Cash Incentive Executive shall be eligible to participate in the Company’s management cash incentive plan and any successor annual cash plans. Executive shall have the opportunity to earn an annual target cash incentive, measured against performance criteria to be determined by the Company’s Board (or a committee thereof) having a target value of not less than 70% of Base Salary.

  • Gross Income Allocations In the event any Partner has a deficit balance in its Capital Account at the end of any Partnership taxable period in excess of the sum of (A) the amount such Partner is required to restore pursuant to the provisions of this Agreement and (B) the amount such Partner is deemed obligated to restore pursuant to Treasury Regulation Sections 1.704-2(g) and 1.704-2(i)(5), such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 6.1(d)(v) shall be made only if and to the extent that such Partner would have a deficit balance in its Capital Account as adjusted after all other allocations provided for in this Section 6.1 have been tentatively made as if this Section 6.1(d)(v) were not in this Agreement.

  • Fixed Income Funds This document is an attachment to the Participant Agreement with respect to the procedures to be used by (i) the Distributor and the Transfer Agent in processing an order for the creation of Shares, (ii) the Distributor and the Transfer Agent in processing a request for the redemption of Shares and (iii) the Participant and the Transfer Agent in delivering or arranging for the delivery of requisite cash payments, Portfolio Deposits or Shares, as the case may be, in connection with the submission of orders for creation or requests for redemption. The Participant is first required to have signed the Participant Agreement. Upon acceptance of the Participant Agreement by the Distributor and the Transfer Agent, the Transfer Agent will assign a PIN Number to each Authorized Person authorized to act for the Participant. This will allow the Participant through its Authorized Person(s) to place an order with respect to Shares.

  • Net Income and Net Loss All net income or net loss of the Company shall be for the account of the Member.

  • Fiscal and Taxable Year The fiscal and taxable year of the Partnership shall be the calendar year.

  • EBITDA With respect to REIT and its Subsidiaries for any period (without duplication): (a) Net Income (or Loss) on a Consolidated basis, in accordance with GAAP, exclusive of the following (but only to the extent included in determination of such Net Income (Loss)): (i) depreciation and amortization expense; (ii) Interest Expense; (iii) income tax expense; (iv) Acquisition Closing Costs and extraordinary or non-recurring gains and losses (including, without limitation, gains and losses on the sale of assets) and income and expense allocated to minority owners; and (v) other non-cash items to the extent not actually paid as a cash expense; plus (b) such Person’s pro rata share of EBITDA of its Unconsolidated Affiliates as provided below. With respect to Unconsolidated Affiliates and Subsidiaries of Borrower that are not Wholly Owned Subsidiaries, EBITDA attributable to such entities shall be excluded but EBITDA shall include a Person’s Equity Percentage of Net Income (or Loss) from such Unconsolidated Affiliates or such Subsidiary of Borrower that is not a Wholly Owned Subsidiary plus its Equity Percentage of (i) depreciation and amortization expense; (ii) Interest Expense; (iii) income tax expense; (iv) Acquisition Closing Costs and extraordinary or non-recurring gains and losses (including, without limitation, gains and losses on the sale of assets) and income and expense allocated to minority owners; and (v) other non-cash items to the extent not actually paid as a cash expense.

  • Cash Balance At Closing, Purchaser shall pay to Seller the Purchase Price, less the Xxxxxxx Money, plus or minus the prorations described in this Agreement (such amount, as adjusted, being referred to as the “Cash Balance”). Purchaser shall pay the Cash Balance by federal funds wire transferred to an account designated by Seller in writing.

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