Lump Sum Payment at Market Value Sample Clauses

Lump Sum Payment at Market Value. The Company will pay to the Contractholder within 30 days after the Contribution Cessation Date the sum of the Guaranteed Certificate Fund account balances according to a Market Value Adjustment Factor formula determined by the Company. The market value adjustment of the Guaranteed Certificate Fund is the balance of the Guaranteed Certificate Fund multiplied by the Market Value Adjustment Factor. The Market Value Adjustment may be a positive or negative adjustment. [The Group Contractholder may not elect this Cessation Option unless the Group Annuity Contract has been effective for [0 - 5] years.] [Signed for Great-West Life & Annuity Insurance Company on [X] or [the Effective Date of the Group Annuity Contract]. /s/ W.T. McCallum W.T. McCallum, President and Chief Executive Officer FIXED ACCOUNT ================================================================================ Guaranteed Certificate Fund ================================================================================ The Guaranteed Certificate Fund is part of the General Account of the Company. All or a portion of the Participant's Contributions and Participant Annuity Account may be allocated to the Guaranteed Certificate Fund, which is a Fixed Account.
Sample 1
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Lump Sum Payment at Market Value. The Company will pay to the Contractholder within 30 days after the Contribution Cessation Date the sum of the Guaranteed Fixed Fund account balances according to a Market Value Adjustment Factor formula determined by the Company. The market value adjustment of the Guaranteed Fixed Fund is the balance of the Guaranteed Fixed Fund multiplied by the Market Value Adjustment Factor. The Market Value Adjustment may be a positive or negative adjustment. [The Group Contractholder may only elect this Cessation Option after the Group Annuity Contract has been effective for [0-5] years.] [Signed for Great-West Life & Annuity Insurance Company on [X] or [the Effective Date of the Group Annuity Contract]. /s/ W.T. McCallum W.T. McCallum, President and Chief Executive Officer FIXED ACCOUNT ================================================================================ Guaranteed Fixed Fund The Guaranteed Fixed Fund is part of the General Account of the Company. All or a portion of the Participant's Contributions and Participant Annuity Account may be allocated to the Guaranteed Fixed Fund, which is a Fixed Account. ================================================================================ Interest Rate Contributions allocated to the Guaranteed Fixed Fund in a calendar quarter will earn an initial annual effective rate of interest as determined by the Company for that calendar quarter. Each initial interest rate will remain in effect to the end of that calendar year. Each initial interest rate will never be less than [0% - 4%]. After the first calendar year, all Contributions allocated and interest accrued on those Contributions that remain in the Guaranteed Fixed Fund in a given calendar year are credited with interest at an annual interest rate determined by the Company. Such interest rate is called the renewal interest rate. Each renewal interest rate will be effective for one calendar year and will never be less than [0% - 4%]. The Company may declare a different renewal rate for Contributions allocated to each calendar year. Transfers, Distributions ================================================================================ The Group Contractholder, on behalf of the Participant, may transfer amounts from the Participant's account balance in the Guaranteed Fixed Fund at any time. Amounts transferred or distributed from the Guaranteed Fixed Fund are on a last in, first out basis. Cessation Options On the Contribution Cessation Date, the Group Contracthold...
Sample 1

Related to Lump Sum Payment at Market Value

  • Lump Sum Payment NewMil Bancorp shall make a lump sum payment to the Executive in an amount in cash equal to one times the Executive’s annual compensation. For purposes of this Agreement, annual compensation means (a) the Executive’s annual base salary on the date of the Change in Control or the Executive’s termination of employment, whichever amount is greater, plus (b) any bonuses or incentive compensation earned for the calendar year immediately before the year in which the Change in Control occurred or immediately before the year in which termination of employment occurred, whichever amount is greater, regardless of when the bonus or incentive compensation is or was paid. NewMil Bancorp recognizes that the bonus and incentive compensation earned by the Executive for a particular year’s service might be paid in the year after the calendar year in which the bonus or incentive compensation is earned. The amount payable to the Executive hereunder shall not be reduced to account for the time value of money or discounted to present value. The payment required under this Section 2(a)(1) is payable no later than 5 business days after the date the Executive’s employment terminates. If the Executive terminates employment for Good Reason, the date of termination shall be the date specified by the Executive in his notice of termination.

  • Market Value Market value shall be determined by the Lending Agent, where applicable, based upon the valuation policies adopted by the Client’s Board of Directors/Trustees.

  • Lump Sum Payments If, during the Employment Period, the Company terminates the Executive's employment other than for Cause, or the Executive terminates employment for Good Reason, the Company shall pay to the Executive the following amounts:

  • Target Fair Market Value The Company agrees that the Target Business that it acquires must have a fair market value equal to at least 80% of the balance in the Trust Account at the time of signing the definitive agreement for the Business Combination with such Target Business (excluding taxes payable and the Deferred Underwriting Commissions). The fair market value of such business must be determined by the Board of Directors of the Company based upon standards generally accepted by the financial community, such as actual and potential sales, earnings, cash flow and book value. If the Board of Directors of the Company is not able to independently determine that the target business meets such fair market value requirement, the Company will obtain an opinion from an independent investment banking firm or another independent entity that commonly renders valuation opinions with respect to the satisfaction of such criteria. The Company is not required to obtain an opinion as to the fair market value if the Company’s Board of Directors independently determines that the Target Business does have sufficient fair market value.

  • Fair Market Value Fair Market Value of a share of Common Stock as of a particular date (the "Determination Date") shall mean:

  • Market Value Adjustment 16 3.07 Transfer of Current Value from the Funds or AG Account ............ 17 3.08 Notice to the Certificate Holder .................................. 18 3.09 Loans ............................................................. 18 3.10 Systematic Withdrawal Option (SWO) ................................ 18 3.11

  • Closing Price Closing Price shall mean the last reported market price for one share of Common Stock, regular way, on the New York Stock Exchange (or any successor exchange or stock market on which such last reported market price is reported) on the day in question. If the exchange is closed on the day on which the Closing Price is to be determined or if there were no sales reported on such date, the Closing Price shall be computed as of the last date preceding such date on which the exchange was open and a sale was reported.

  • Fair Market Value of Common Stock The fair market value (“Fair Market Value”) of a share of Common Stock shall be determined for purposes of this Agreement by reference to the closing price of a share of Common Stock as reported by the New York Stock Exchange (or such other exchange on which the shares of Common Stock are primarily traded) for the applicable date, or if no prices are reported for that day, the last preceding day on which such prices are reported (or, if for any reason no such price is available, in such other manner as the Committee in its sole discretion may deem appropriate to reflect the fair market value thereof).

  • Current Value Curtailment....................................................

  • Current Per Share Market Value For the purpose of any computation hereunder, the “Current Per Share Market Value” of any security (a “Security” for the purpose of this Section 11.4.1) on any date shall be deemed to be the average of the daily closing prices per share of such Security for the thirty (30) consecutive Trading Days (as such term is hereinafter defined) immediately prior to such date; provided, however, that in the event that the current per share market price of the Security is determined during any period following the announcement by the issuer of such Security of (i) a dividend or distribution on such Security payable in shares of such Security or securities convertible into such shares or (ii) any subdivision, combination or reclassification of such Security, and prior to the expiration of

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