PAYMENT PLAN ELECTIONS Sample Clauses

The Payment Plan Elections clause allows a party to choose from available payment schedule options for fulfilling their financial obligations under the agreement. Typically, this clause outlines the different payment plans offered, such as lump-sum, monthly, or quarterly installments, and specifies the process for making an election, including any deadlines or required notifications. Its core practical function is to provide flexibility and clarity in how payments are made, ensuring both parties understand the timing and structure of payments, and reducing the risk of disputes over payment terms.
PAYMENT PLAN ELECTIONS. FOR DEATH BENEFITS BY OWNER. The Owner may elect payment plans for death benefits: - while the Annuitant is living; or - during the first 60 days after the date of death of the Annuitant, if the Annuitant was not the Owner immediately prior to the Annuitant's death. An election made during the 60 days cannot be changed. FOR DEATH BENEFITS BY DIRECT OR CONTINGENT BENEFICIARY. A direct or contingent beneficiary may elect payment plans for death benefits payable to the direct or contingent beneficiary if no payment plan that has been elected is in effect. This right is subject to the Owner's rights during the above 60 days. FOR MATURITY BENEFITS OR WITHDRAWAL AMOUNTS. The Owner may elect payment plans for maturity benefits or withdrawal amounts. TRANSFER BETWEEN PAYMENT PLANS. A beneficiary who is receiving payment under a payment plan which includes the right to withdraw may transfer the amount withdrawable to any other payment plan that is available.
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PAYMENT PLAN ELECTIONS. For Death Proceeds By Owner. The Owner may elect payment plans for death proceeds: o while the Insured is living. o during the first 60 days after the date of death of the Insured, if the Insured was not the Owner immediately prior to the Insured's death. An election made during this 60 days may not be changed.
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PAYMENT PLAN ELECTIONS. FOR DEATH PROCEEDS BY OWNER. The Owner may elect payment plans for death proceeds: - while the Insured is living. - during the first 60 days after the date of death of the Insured, if the Insured just before his death was not the Owner. No one may change this election made during those 60 days. FOR DEATH PROCEEDS BY DIRECT OR CONTINGENT BENEFICIARY. A direct or contingent beneficiary may elect payment plans for death proceeds payable to him if no payment plan that has been elected is in effect. This right is subject to the Owner's rights during the above 60 days. FOR SURRENDER PROCEEDS. The Owner may elect payment plans for surrender proceeds. The Owner will be the direct beneficiary.
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PAYMENT PLAN ELECTIONS. FOR DEATH BENEFITS BY OWNER. The Owner may elect payment plans for death benefits while the Annuitant is living. FOR MATURITY BENEFITS OR WITHDRAWAL AMOUNTS. The Owner may elect payment plans for maturity benefits or withdrawal amounts. TRANSFER BETWEEN PAYMENT PLANS. A beneficiary who is receiving payment under a payment plan which includes the right to withdraw may transfer the amount withdrawable to any other payment plan that is available.
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PAYMENT PLAN ELECTIONS. For Death Proceeds By Owner. The Owner may elect payment plans for death proceeds:
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PAYMENT PLAN ELECTIONS. For Death Benefits by Owner. The Owner may elect payment plans for death benefits while the Annuitant is living.
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PAYMENT PLAN ELECTIONS 
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Related to PAYMENT PLAN ELECTIONS

  • Deferral Election A Participant may elect to defer all or a specified percentage of the Compensation earned in a Plan Year by such Participant for serving as a member of the Board of any Participating Fund or as a member of any committee or subcommittee thereof. Reimbursement of expenses of attending meetings of the Board, committees of the Board or subcommittees of such committees may not be deferred. Such election shall be made by executing before the first day of such Plan Year such election notice as the Administrator may prescribe; provided, however, that upon first becoming eligible to participate in the Plan by reason of appointment to a Board, a Participant may file a Deferral Election not later than 30 days after the effective date of such appointment, which election shall apply to Compensation earned in the portion of the Plan Year commencing the day after such election is filed and ending on the last day of such Plan Year.

  • Initial Election The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

  • 83(b) Election You may make and file with the Internal Revenue Service an election under Section 83(b) of the Code with respect to the grant of the Restricted Shares hereunder, electing to include in your gross income as of the Grant Date the Fair Market Value of the Restricted Shares as of the Grant Date. You shall promptly provide a copy of such election to the Company. If you make and file such an election, you shall make such arrangements in accordance with Section 8 as are satisfactory to the Committee to provide for the timely payment of all applicable withholding taxes.

  • Deferral Account Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:

  • Change in Form or Timing of Distributions All changes in the form or timing of distributions hereunder must comply with the following requirements. The changes: (a) may not accelerate the time or schedule of any distribution, except as provided in Section 409A of the Code and the regulations thereunder; (b) must, for benefits distributable under Sections 2.1, 2.2, 2.3, 2.4 and 2.5, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and (c) must take effect not less than twelve (12) months after the election is made.