Common use of SYSTEMATIC WITHDRAWAL PROGRAM Clause in Contracts

SYSTEMATIC WITHDRAWAL PROGRAM. A Planholder may elect to establish a systematic withdrawal program, after the Planholder has completed all regularly scheduled Plan investments or from an incomplete Plan if the withdrawals are to be taken from a Plan that is part of an ▇▇▇ and the Planholder has reached age 59 1 2, but only in accordance with the terms and conditions of the applicable Prospectus. Under a systematic withdrawal program, the Planholder can elect to receive monthly or quarterly payments in any amount of $50 or more. To provide funds for payments to be made under a systematic withdrawal program, the Custodian, as agent for the Planholder, will redeem Fund Shares held in the Planholder's Plan Account at the net asset value in effect at the time of each such redemption. All systematic withdrawal program transactions will be made as of the end of the day specified for the withdrawal by the Planholder (or, if such day is not a business day, the first business day after that date). The Planholder may change the amount of payments under a systematic withdrawal program or discontinue the 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 or her Plan account in cash.

SYSTEMATIC WITHDRAWAL PROGRAM. A Planholder may elect to establish a systematic withdrawal program, after the Planholder has completed all regularly scheduled Plan investments or from an incomplete Plan if the withdrawals are to be taken from a Plan that is part of an ▇▇▇ and the Planholder has reached age 59 1 2, but only in accordance with the terms and conditions of the applicable Prospectus. Under a systematic withdrawal program, the Planholder can elect to receive monthly or quarterly payments in any amount of $50 or more. To provide funds for payments to be made under a systematic withdrawal program, the Custodian, as agent for the Planholder, will redeem Fund Shares held in the Planholder's Plan Account at the net asset value in effect at the time of each such redemption. All systematic withdrawal program transactions will be made as of the end of the day specified for the withdrawal by the Planholder (or, if such day is not a business day, the first business day after that date). The Planholder may change the amount of payments under a systematic withdrawal program or discontinue the 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 or her Plan account Account in cash.