SETTLEMENT PHASE Sample Clauses

SETTLEMENT PHASE. BENEFITS DURING THE The Contract will enter its Settlement Phase if SETTLEMENT PHASE (a) the Contract Value reduces to zero, and
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SETTLEMENT PHASE. The Contract will enter its Settlement Phase if the Contract Value reduces to zero, Withdrawals during the Contract Year do not exceed the LIA, and the Benefit Base is still greater than zero. When the Contract enters its Settlement Phase the Lifetime Income Benefit will continue, however all other rights and benefits under the Contract, including death benefits, will terminate and additional Payments will not be accepted. You will automatically receive settlement payments equal to the LIA each Contract Year of the Settlement Phase during the life of the Annuitant and any co-Annuitant. If the Settlement Phase is entered prior to the Lifetime Income Date, then settlement payments will begin on or after the Lifetime Income Date. The settlement payments will be paid no less frequently than annually. The Lifetime Income Benefit Fee will not be deducted during the Settlement Phase. If the last of the Annuitant and any co-Annuitant dies during the Settlement Phase, then the Lifetime Income Benefit terminates and no additional settlement payments will be paid.
SETTLEMENT PHASE. 8.1 PART 9 - DISTRIBUTIONS AFTER DEATH ...................................... 9.1 PART 10 - ANNUITY PAYMENTS .............................................. 10.1 PART 11 - ANNUITY OPTIONS ............................................... 11.1 PART 12 - GENERAL PROVISIONS ............................................ 12.1 [NATIONAL]
SETTLEMENT PHASE. The period when the Covered Fund Value has reduced to zero by means other than an Excess Withdrawal, provided the Benefit Base is greater than zero. Installments continue during the Settlement Phase under the terms of the Contract. Transfer - The reinvestment or exchange of all or a portion of the Covered Fund Value from one Variable Account to another or outside the Contract to another eligible Plan investment option. Valuation Date - A Business Day on which the net asset value of each Variable Account is determined. Valuation Period - The period between successive Valuation Dates. Variable Account - A division of the Variable Annuity-8 Series Account. There is a different Variable Account for each Covered Fund. Variable Annuity-8 Series Account (Separate Account) - A segregated investment account that Great-West established under the laws of Great-West’s state of domicile. The Variable Annuity-8 Series Account is registered as a unit investment trust under the Investment Company Act of 1940 (the “1940 Act”) and is divided into sub-accounts that are referred to in the Contract as “Variable Accounts.” Withdrawal Phase - The period of time between the Initial Installment Date and the first calendar day of the Settlement Phase.
SETTLEMENT PHASE a. At the settlement meeting, the disputing Executive Committee members will explain their positions, explore options, and seek a mutually acceptable agreement.
SETTLEMENT PHASE. The period when the Covered Fund Value has reduced to zero, but the Benefit Base is still positive. Installments continue under the terms of the Certificate pursuant to Section 6.03. Spouse – A person legally married to another person under applicable Federal law. Transfer – The transfer of all or a portion of Covered Fund Value resulting from the purchase or sale of an interest in a Covered Fund to or from: (i) another Covered Fund; or (ii) another Investment Portfolio offered by the Financial Services Provider.
SETTLEMENT PHASE. The settlement phase comprises service delivery and payment, i.e., performing all necessary operations agreed upon. This phase includes provisioning of access to a service interface as well as ensuring compliance to any guarantee. The payment activity may include determination of the final price on basis of a cost model agreed upon, e.g., consumption- based pricing on a fixed cost model basis. All approaches provide means for monitoring delivery in the scope of the agreement at least for performance constraints. However, even if the customer trusts the monitoring provider, the WSLA model also implies a trust relationship between the monitoring service and the provider, regarding the delivered low-level values, and thus does not enforce monitoring [7, p. 2]. WS-Agreement and the SWAPS extension delegate the trust to the language used to describe the guarantees [7, p. 2][8, p. 2]. Although the approaches include extensive support for monitoring deliveries, security considerations (e.g., authentication and authorisation) are not being addressed [1, p. 49]. In WSLA, business values including payment information cannot be linked to raw and aggregated values [8, p. 2]. WS-Agreement and its extension include the “business value” field, though they do not include explicit accounting and billing mechanisms.
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SETTLEMENT PHASE. 7.1 PART 8 - DISTRIBUTIONS AFTER DEATH ......................... 8.1 PART 9 - ANNUITY PAYMENTS .................................. 9.1 PART 10 - ANNUITY OPTIONS .................................. 10.1 PART 11 - GENERAL PROVISIONS ............................... 11.1 NATIONAL SPECIFICATIONS PAGE TYPE OF CONTRACT: QUALIFIED CONTRACT DATE: MAY 1, 2009 INITIAL PAYMENT: $ 25,000 CONTRACT NUMBER: 12345 OWNER: JOHN DOE GOVERNING LAW: MI ANNUITANT: XXXX XXE ANNUITANT'S AGE 55 CO-OWNER:
SETTLEMENT PHASE. The period when the Covered Fund Value has reduced to zero by means other than an Excess Withdrawal, provided the Benefit Base is greater than zero. Installments continue during the Settlement Phase under the terms of this Contract. Spouse - An individual legally married under state law; does not include those in domestic partnerships or civil unions not recognized as legal marriages. Transfer - The reinvestment or exchange of all or a portion of a Covered Fund Value from one Variable Account to another to another IRA investment option. Valuation Date - A Business Day on which the net asset value or unit value of each Variable Account is determined. Valuation Period - The period between successive Valuation Dates. Variable Account - A division of the Variable Annuity-8 Series Account. There is a different Variable Account for each Covered Fund. Variable Annuity-8 Series Account (Separate Account) - A segregated investment account that Great-West established under the laws of Great-West’s state of domicile. The Variable Annuity-8 Series Account is registered as a unit investment trust under the Investment Company Act of 1940, as amended, (the “1940 Act”) and is divided into sub-accounts that are referred to in this Contract as “Variable Accounts.” Withdrawal Phase - The period of time between the Initial Installment Date and the first day of the Settlement Phase.
SETTLEMENT PHASE. The period when the Covered Fund Value has reduced to zero by means other than an Excess Withdrawal, provided the Benefit Base is greater than zero. Installments continue during the Settlement Phase under the terms of this Contract. Spouse - An individual legally married under state law; does not include those in domestic partnerships or civil unions not recognized as legal marriages. Transfer - The reinvestment or exchange of all or a portion of a Covered Fund Value from one Variable Account to another to another XXX investment option. Valuation Date - A Business Day on which the net asset value or unit value of each Variable Account is determined. Valuation Period - The period between successive Valuation Dates. Variable Account - A division of the Variable Annuity-8 Series Account. There is a different Variable Account for each Covered Fund. Variable Annuity-8 Series Account (Separate Account) - A segregated investment account that Great-West of New York established under the laws of Great-West of New York’s state of domicile. The Variable Annuity-8 Series Account is registered as a unit investment trust under the Investment Company Act of 1940, as amended, (the “1940 Act”) and is divided into sub-accounts that are referred to in this Contract as “Variable Accounts.” Withdrawal Phase - The period of time between the Initial Installment Date and the first day of the Settlement Phase.
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