Interim Value Clause Samples
The Interim Value clause establishes a temporary or provisional value for an asset, service, or transaction until a final value can be determined. In practice, this clause is often used in situations where the final value depends on future events, such as post-closing adjustments in mergers or ongoing project milestones. By providing a clear interim figure, the clause ensures that parties can proceed with necessary actions or payments without delay, thereby reducing uncertainty and facilitating smoother operations until the final value is agreed upon or calculated.
Interim Value. For each Shield Option, the value we assign on any Business Day prior to the Term End Date. During the Transfer Period, the Interim Value of each Shield Option is equal to the Investment Amount at the Term End Date in that Shield Option. After the Transfer Period, the Interim Value of that Shield Option is equal to the Investment Amount at the Term Start Date in that Shield Option, adjusted for the Index Performance of the associated Index and subject to the applicable Accrued Shield Rate, Accrued Cap Rate or Accrued Step Rate. The Interim Value is the amount that is available for annuitization, death benefits, withdrawals and Surrenders. Investment Amount. The Investment Amount, for any Shield Option, is the amount that is allocated to the Shield Option at the Term Start Date, reduced proportionately for any withdrawals (including any applicable Withdrawal Charge) at the time of such withdrawals by the same percentage that the withdrawal reduces the Interim Value attributable to that Shield Option, and then, at Term End Date, adjusted by the Performance Rate. The remaining Investment Amount after a withdrawal will be used as the new Investment Amount for the Term until the Term End Date or the next Interim Value calculation for that Shield Option.
Interim Value. The Interim Value represents the daily value of the underlying hypothetical instruments of an Indexed Account. This value is used in calculating your Indexed Account Value on any Business Day during an Interest Term except the first and last Business Days of the Interest Term.
Interim Value. The Interim Value is the value of the Indexed Account on any Business Day during the Interest Term except the first day and the last day of the Interest Term. We calculate the Interim Value at the end of each Business Day. The Interim Value may change each Business Day and this change may be either positive or negative. The Interim Value calculation is not directly based on the value of the Index. The Interim Value is the amount available in the Indexed Accounts for partial or full withdrawals, annuitization, and Death Benefit. The Interim Value is calculated by determining the value of a specific set of hypothetical derivatives. The value is determined by an option pricing formula. Our Interim Value calculation methodology is on file with the insurance supervisory official in the jurisdiction in which this Contract is issued. The method in which we calculate the Interim Value for an Indexed Account with a Crediting Method that includes an Indexed Interest Buffer differs from the method in which we calculate the Interim Value for an Indexed Account with a Crediting Method that includes an Indexed Interest Floor. WITHDRAWALS WITHDRAWALS At or prior to the commencement of the Income Phase, you may withdraw all or part of your Contract Value by sending a request to our Home Office. A withdrawal may have a Surrender Charge. If you withdraw all of your Contract Value, all benefits under the Contract will terminate. If you withdraw part of your Contract Value the withdrawal will be deducted pro-rata from the Fixed Account and the Indexed Account(s) unless you tell us otherwise. WITHDRAWAL RESTRICTIONS Each withdrawal must be at least $500. If any withdrawal would reduce the Contract Value to less than $2,000, the remaining balance will also be withdrawn and the Contract will be terminated. CHARGES AND TAXES The following charges may apply to your Contract: SURRENDER CHARGE A Surrender Charge may be assessed on withdrawals from your Contract Value. The charge is a percentage of the amount of the Contract Value withdrawn. The Surrender Charge schedule is shown on your Contract data page.
Interim Value. If you choose to allocate amounts to an Indexed Account, Indexed Interest will not be credited to your Contract Value until the end of the Interest Term. On each Business Day of the Interest Term, other than the first and last day, we determine the Indexed Account Value for each Indexed Account by calculating its Interim Value. The Interim Value is the value of the ICC26_RC1[Page 9 of #NUM_PAGES#][ABC123] [ABC123] Indexed Account, excluding any applicable Indexed Account Charges, between the first and last day of the Interest Term. The Interim Value may change each Business Day and this change may be either positive, negative or zero. The method in which we calculate the Interim Value for Indexed Accounts varies depending upon the Crediting Method of the Indexed Account. Please refer to the Interim Value endorsement for a description of how the calculation is performed and a description of the hypothetical option sets applicable to the Crediting Methods applicable in your Contract. WITHDRAWALS
Interim Value. See attached.
Interim Value. The “Interim Value” at any time is equal to the sum of the Segment Interim Values. RIA I (05/19) Page 7 RIA I (05/19) The “Segment Value” of a Segment Option at any time is determined based on the provisions of the applicable Strategy Endorsement.
Interim Value. For each Shield Option, the value we assign on any Business Day prior to the Term End Date. During the Transfer Period, the Interim Value of each Shield Option will equal the Investment Amount in that Shield Option. After the Transfer Period, the Interim Value of that Shield Option is equal to the Investment Amount in the Shield Option, adjusted for the Index Performance of the associated Index and subject to the applicable Accrued Shield Rate, Accrued Cap Rate or Accrued Step Rate. The Interim Value is the amount that is available for annuitization, death benefits, withdrawals and Surrenders. Investment Amount. The Investment Amount, for each Shield Option, is the amount that is allocated to the Shield Option and subsequently reflects all withdrawals and adjustments at the Term End Date. The Investment Amount will be reduced for any withdrawal by the same percentage that the withdrawal reduces the Interim Value attributable to that Shield Option.