Minimum Current Value Sample Clauses
The Minimum Current Value clause establishes a baseline value that an asset, investment, or contractual item must maintain during the term of the agreement. In practice, this means that if the value of the specified item falls below the agreed minimum, certain actions may be triggered, such as requiring additional collateral, adjusting payment terms, or even allowing for early termination of the contract. This clause serves to protect parties from significant losses due to depreciation or market fluctuations, ensuring that the value of the subject matter remains within acceptable limits throughout the contractual relationship.
Minimum Current Value. At its discretion, Aetna may require a minimum initial Current Value for election of this option. If after election of this option the Current Value is insufficient to make a scheduled ECO payment, Aetna will distribute the entire balance of the Individual Account.
Minimum Current Value. At its discretion, Aetna may require a minimum initial Current Value for election of this option. If after election of this option the Current Value is insufficient to make a scheduled ECO payment, Aetna will distribute the entire balance of the Individual Account(s). f) Distribution Date: The Participant shall specify an annual distribution date. The earliest date is the first day of the calendar year in which he or she attains age 70 1/2. For a spouse Beneficiary electing ECO after the Participant's death, the earliest date is the date of the Participant's death. The first distribution date may be the 15th of any month, or such other date as Aetna may designate or allow. Subsequent distributions will be made on the anniversary of that date. At its option, Aetna may allow payments to be made more frequently than annually.