LIF/LrIF/rLIF Maximum Clause Samples

LIF/LrIF/rLIF Maximum. If the Contract is a LIF, LRIF or RLIF and in any year payment of the LWA would exceed the maximum payment amount permitted according to the formula specified by applicable legislation, the LWA payment for that year will be reduced to aggregate such maximum permitted payment amount. The reduction will be treated as an LWA Deferral.