Joint Basis Sample Clauses
The "Joint Basis" clause establishes that certain rights, obligations, or actions under an agreement are to be undertaken collectively by two or more parties, rather than individually. In practice, this means that the parties must act together when making decisions, providing consents, or fulfilling responsibilities specified in the contract. For example, if two companies enter into a joint venture, a Joint Basis clause may require both to agree before any major project changes are made. This clause ensures coordinated action and shared responsibility, preventing unilateral decisions and promoting collaboration between the parties.
Joint Basis. Limited to a Joint and 100% Survivor Annuity with 10- Year Period Certain o The SETTLEMENT ANNUITY PURCHASE RATE (SAPR) per $1000, which is used at time of annuitization for reinsurance claims settlement shall be equal to the fixed annuity purchase rate that the Cedent would provide to an annuitant in the same class. Annuity form:
Joint Basis. Limited to a Joint and 100% Survivor Annuity with 10-Year Period Certain
Joint Basis. Limited to a Joint and 100% Survivor Annuity with 10-Year Period Certain • The Settlement Annuity Purchase Rate (SAPR) per $1000, which is used at time of annuitization for reinsurance claims settlement, is calculated using the following assumptions: Mortality Table Annuity 2000 (Exhibit I) Age Setback None Mortality Improvement Projection Scale G applied dynamically (Exhibit I) Sex distinct only Unisex Blend: The yield on the most recently auctioned 10-Year U.S. Treasury security (i.e., “on-the-run”), as posted in the Wall Street Journal, at the beginning of the month in which annuitization occurs plus 50 Basis Points. That interest rate shall never be less than 2.5%. Interest Rate: Expenses: None Premium Taxes: Applied by state of residence and market Age: Attained age on exercise date Frequency of payment Monthly Annuity form: