Systematic Withdrawal Sample Clauses

Systematic Withdrawal. Option The Contract Holder may elect a (SWO): distribution option under which a portion of the Current Value will automatically be surrendered and distributed each year. SWO payments will be calculated based on the Contract's full Current Value. The distributed amount is withdrawn pro rata from each Guaranteed Period(s). A Surrender Fee will not be deducted from any portion of the Current Value which is paid as a distribution under SWO. Contract Holders should consult their tax adviser prior to requesting this distribution option.
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Systematic Withdrawal. Option You may elect to have a specified dollar amount withdrawn from that portion of your Contract’s Accumulated Value which is allocated to the Subaccounts, on a monthly, quarterly, semiannual or annual basis. The minimum amount for each withdrawal is $250. You may elect this option by completing a Systematic Withdrawal Request Form. We must receive it at least 30 days prior to the date you want systematic withdrawals to begin. We will process each systematic withdrawal on the date and at the frequency specified by you in your Systematic Withdrawal Request Form. We will forward the withdrawal amount to you within 10 Business Days of the process date. You may change the amount to be withdrawn or elect to cancel this option at anytime provided we receive Written Notice at least 30 days prior to the next systematic withdrawal date. We reserve the right to discontinue offering this systematic withdrawal option upon 30 days’ Written Notice. We also reserve the right to charge a fee for administering this option. Any fee we may charge will be shown on the Contract Schedule Page. Dollar Cost Averaging If you have at least $5,000 of Accumulated Value in the money market portfolio, you may elect to have a specified dollar amount transferred from that Subaccount to other Subaccounts on a monthly basis. The minimum amount you may transfer each month is $250 for each Subaccount. The maximum amount you may transfer is equal to the value of the money market portfolio when you made your election, divided by 12. You may change the amount to be transferred once each Contract Year provided we receive notice by phone or in writing at least seven days prior to the next transfer date. We will make this transfer on the same date each month as the Contract Date. The dollar amount will be allocated to the Subaccounts in the proportions you specified in your notice. If, on any transfer date, the value in the money market portfolio is equal to or less than the amount you elected to have transferred, we will transfer the entire amount and this option will no longer be in effect. You may cancel this option at anytime provided we receive notice by phone or in writing at least seven days prior to the next transfer date.
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Systematic Withdrawal. The Custodian and the Sponsor agree that a Planholder may elect to establish a Systematic Withdrawal Program, after the Planholder has completed all regularly scheduled payments (or in the case of IRAs, Keogx xxxns or other retirement plans, if the Planholder has notified the Sponsor or the Custodian that the Planholder does not intend to make any further Plan payments). Under a Systematic Withdrawal Program, the Planholder can elect to receive monthly or quarterly checks in any amount of $50.00 or more. To provide funds for these payments, the Custodian, as agent for the Planholder, will redeem shares held in the Planholder's account at the net-asset value in effect at the time of each such redemption. The Planholder may change the amount of payments under a Systematic Withdrawal Program or discontinue a Systematic Withdrawal Program at any time. While a Systematic Withdrawal Program is in effect, the Planholder may not elect to receive dividends and distributions on Fund Shares held in his account in cash. A Planholder may not simultaneously maintain an uncompleted Plan and a Systematic Withdrawal Program.
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Systematic Withdrawal. Option (SWO) - We will allow the Certificate Holder to establish a schedule of withdrawals to be made automatically from the Certificate Holders Account Value. All distributed amounts will be withdrawn on a pro rata basis from the Fund(s) and/or the guaranteed term(s) groups of the GP Guaranteed Account in which the Certificate Holder's Account is invested. The Certificate Holder must elect one of the following SWO methods:
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Systematic Withdrawal. Option (b) Minimum Initial Current Value: (SWO) (Cont'd): 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 SWO payment, Aetna will distribute the entire Account balance.
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Systematic Withdrawal. The Custodian and the Sponsor agree that a Planholder may elect to establish a Systematic Withdrawal Program, after the Planholder has completed all regularly scheduled payments (or in the case of IRAs, Keogx xxxns or other retirement plans, if the Planholder has notified the Sponsor or the Custodian that the Planholder does not intend to make any further Plan payments). Under a Systematic Withdrawal Program, the Planholder can elect to receive monthly or quarterly checks in any amount of $50.00 or more. To provide funds for these payments, the Custodian, as agent for the Planholder, will redeem shares held in the Planholder's account at the net-asset value in effect at the time of each such redemption. The Planholder may change the amount of payments under a Systematic Withdrawal Program or discontinue a Systematic Withdrawal Program at any time. While a Systematic Withdrawal Program is in effect, the Planholder may not elect to receive dividends and distributions on Fund Shares held in his account in cash. A Planholder may not simultaneously maintain an uncompleted Plan and a Systematic Withdrawal Program. The Custodian will charge the fee set forth in Schedule A for each check relating to a withdrawal under a Systematic Withdrawal Program. This charge is collected by redeeming the necessary fractional shares. For any payment made ten years after the issuance of a Plan, the charge may be increased to the amount specified in the then current Prospectus. However, this
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Related to Systematic Withdrawal

  • Voluntary Withdrawal If any Partner should withdraw from the Partnership, they must give at least days’ written notice to the Partnership. Such withdrawal shall have no effect on the day-to-day operations of the Partnership.

  • No Withdrawal No Person shall be entitled to withdraw any part of such Person’s Capital Contribution or Capital Account or to receive any Distribution from the Company, except as expressly provided in this Agreement.

  • Involuntary Withdrawal Involuntary withdrawal of a Partner shall include, but not be limited to, the following:

  • Demand Withdrawal A Demanding Holder and any other Holder that has requested its Registrable Securities be included in a Demand Registration pursuant to Section 3.1.3 may withdraw all or any portion of its Registrable Securities included in a Demand Registration from such Demand Registration at any time prior to the effectiveness of the applicable Demand Registration and will not be obligated to participate in any Underwritten Public Offering prior to executing the underwriting agreement relating thereto. Upon receipt of a notice to such effect from a Demanding Holder (or if there is more than one Demanding Holder, from all such Demanding Holders) with respect to all of the Registrable Securities included by such Demanding Holder(s) in such Demand Registration, the Company shall cease all efforts to secure effectiveness of the applicable Demand Registration Statement; provided that, for the avoidance of doubt, in the event of a request for a Demand Registration by more than one Demanding Holder, the Company shall continue all efforts to secure effectiveness of the applicable Demand Registration Statement with respect to the Registrable Securities requested to be included by each of the Holders that has not withdrawn its Registrable Securities. Notwithstanding any withdrawal by a Demanding Holder of Registrable Securities from a Demand Registration pursuant to this Section 3.1.4, the Demand Registration with respect to which the withdrawal was made shall be counted for purposes of the limit on Demand Registration Requests set forth in Section 3.1.2 unless (a) the Demanding Holders reimburse the Company for all expenses incurred in connection with the Demand Registration with respect to which the withdrawal was made, (b) the withdrawal is made as a result of an event that has had a material adverse effect on the business, assets, condition (financial or otherwise) or results of operations of the Company or (c) the withdrawal is made in response to a Demand Suspension pursuant to Section 3.1.6.

  • Withdrawal Events In the event of the death, retirement, withdrawal, expulsion, or dissolution of a Member, or an event of bankruptcy or insolvency, as hereinafter defined, with respect to a Member, or the occurrence of any other event which terminates the continued membership of a Member in the Company pursuant to the Statutes (each of the foregoing being hereinafter referred to as a “Withdrawal Event”), the Company shall terminate sixty days after notice to the Members of such withdrawal Event unless the business of the Company is continued as hereinafter provided. Notwithstanding a Withdrawal Event with respect to a Member, the Company shall not terminate, irrespective of applicable law, if within aforesaid sixty day period the remaining Members, by the unanimous vote or consent of the Members (other than the Member who caused the Withdrawal Event), shall elect to continue the business of the Company. In the event of a Withdrawal Event with respect to an Member, any successor in interest to such Member (including without limitation any executor, administrator, heir, committee, guardian, or other representative or successor) shall not become entitled to any rights or interests of such Member in the Company, other than the allocations and distributions to which such Member is entitled, unless such successor in interest is admitted as a Member in accordance with this Agreement. An “event of bankruptcy or insolvency” with respect to a Member shall occur if such Member:

  • Partial Withdrawals At any time any Holder shall be entitled to request a withdrawal of such portion of the Interest held by such Holder as such Holder shall request.

  • Hardship Withdrawals Hardship withdrawals, as provided for in paragraph 6.9 of the Basic Plan Document #04, [X] are [ ] are not permitted.

  • Notice of Withdrawal Agent will return to any person tendering the Shares, in the manner described in Article I, Section 8 hereof, any Shares tendered by such person but duly withdrawn pursuant to the Offer to Purchase. To be effective, Agent must receive a written notice of withdrawal at its address as set forth on the back page of the Offer to Purchase, within the time period specified for withdrawal in the Offer to Purchase or other method mutually agreed to by the Purchaser and Agent. Any notice of withdrawal must specify the name of the registered holder of the Shares to be withdrawn, the number of the Shares to be withdrawn and, if such Shares are represented by a physical certificate, the number of such certificate. Agent is authorized and directed to examine any notice of withdrawal to determine whether it believes any such notice may be defective. In the event Agent concludes that any such notice is defective it shall, after consultation with and on the instructions of the Purchaser, use reasonable efforts in accordance with its regular procedures to notify the person delivering such notice of such determination. All questions as to the form and validity (including time of receipt) of notices of withdrawal will be determined by the Purchaser in its sole discretion, whose determination shall be final and binding. Any Shares withdrawn in accordance with the procedures set forth in this section shall no longer be considered to be properly tendered unless such Shares are re-tendered prior to the Expiration Date in accordance with Article I, Section 2 hereof.

  • Early Withdrawal Penalty When you open a CD, you agree to keep the principal on deposit with us for the term that you have selected. We will impose a substantial penalty if we permit you to withdraw any principal before the maturity date. The early withdrawal penalty will be one-half (½) the interest that would be due on the CD over the entire term of the CD, regardless of the length of time the funds remained on deposit, subject to the following limits. The minimum penalty is 7 days simple interest. The maximum penalty is 270 days of compound interest. It is possible that all or part of the penalty will be deducted from principal. No early withdrawal penalty will be assessed if the withdrawal is made because of your death or a court determination of your legal incompetence. We require proof of death or incompetence before an early withdrawal penalty is waived.

  • Interest and Withdrawal No interest shall be paid by the Partnership on Capital Contributions. No Partner shall be entitled to the withdrawal or return of its Capital Contribution, except to the extent, if any, that distributions made pursuant to this Agreement or upon termination of the Partnership may be considered as such by law and then only to the extent provided for in this Agreement. Except to the extent expressly provided in this Agreement, no Partner shall have priority over any other Partner either as to the return of Capital Contributions or as to profits, losses or distributions. Any such return shall be a compromise to which all Partners agree within the meaning of Section 17-502(b) of the Delaware Act.

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