The Cash Surrender Value Sample Clauses

The Cash Surrender Value. If the Owner's Issue Age is greater than 67 but less than or equal to 75, the Death Benefit is the greatest of: (1) The sum of premium payments less any withdrawals and taxes; (2) The Accumulation Value less any taxes; (3) The Accumulation Value (plus subsequent premiums less subsequent withdrawals and taxes) on the 8th Contract anniversary but on or before the Owner's death; or (4) The Cash Surrender Value. 3D2 THE SCHEDULE CONTRACT FACTS (continued) ------------------------------------------------------------------------------ Annuitant Owner [XXXXXX X. XXX] [XXXX X. XXX] ------------------------------------------------------------------------------ Initial Premium Annuity Option Annuity Commencement Date [$10,000] [LIFE 10-YEAR CERTAIN] [JANUARY 1, 2026] ------------------------------------------------------------------------------ Separate Account(s) Contract Number [SEPARATE ACCOUNT B AND THE FIXED ACCOUNT] [123456] ------------------------------------------------------------------------------ If the Owner's Issue Age is greater than 75: The Death Benefit is equal to the greater of Accumulation Value or Cash Surrender Value.] CHANGE OF OWNER When ownership changes, the death benefit must be redetermined. If the new Owner's age at the time of the change of Owner is less than or equal to the original Owner's Issue Age, then the death benefit in effect prior to the change of Owner will remain in effect. If the new Owner's age at the time of the change of Owner is greater than the original Owner's Issue Age, then the death benefit must be recalculated based on a new Owner's Issue Age equal to the new Owner's age at the time of the change of Owner. The new Owner's death will then determine when a death benefit is payable. CHOOSING AN INCOME PLAN
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The Cash Surrender Value. The Cash Surrender Value of this Contract equals the greater of:
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The Cash Surrender Value. If the Owner's Issue Age is greater than 67 but less than or equal to 75, the Death Benefit is the greatest of: (1) The sum of Premium Payments less any withdrawals and taxes; (2) The Accumulation Value less any taxes: GA-IA-1075 3D3 THE SCHEDULE CONTRACT FACTS (continued) ------------------------------------------------------------------------------- |--------------------------------------------------------------------------| | Annuitant Owner | | [XXXXXX X. XXX] [XXXX X. XXX] | |--------------------------------------------------------------------------| | Initial Premium Annuity Option Annuity Commencement Date| | [$10,000] [LIFE 10-YEAR CERTAIN] [JANUARY 1, 2026] | |--------------------------------------------------------------------------| | Separate Account(s) Contract Number | | [SEPARATE ACCOUNT B] [123456] | |--------------------------------------------------------------------------|
Sample 1
The Cash Surrender Value. This report will also provide a summary of transactions made during the previous Contract Year and any information required by law. ATTAINED AGE. The Attained Age of the Annuitant on any date is the Issue Age of the Annuitant shown in the Data Section plus the number of full Policy Years which have passed since the Date of Issue. The Attained Age of the Owner on any date is the Issue Age of the Owner shown in the Data Section plus the number of full Policy Years which have passed since the Date of Issue.
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The Cash Surrender Value. If the Owner's Issue Age is greater than 75, the Death Benefit is equal to the greater of Accumulation Value or Cash Surrender Value.
Sample 1
The Cash Surrender Value. If the Owner's Issue Age is greater than 67 but less than or equal to 75, the Death Benefit is the greatest of: (1) The sum of Premium Payments less any withdrawals and taxes; (2) The Accumulation Value less any taxes; (3) The Accumulation Value (plus subsequent premiums less subsequent withdrawals and taxes) on the 8th Contract anniversary but on or before the Owner's death; or (4) The Cash Surrender Value. GA-IA-1074 3D2 THE SCHEDULE CONTRACT FACTS (continued) ------------------------------------------------------------------------------ ------------------------------------------------------------------------------ | Annuitant Owner | | [XXXXXX X. XXX] [XXXX X. XXX] | |----------------------------------------------------------------------------| | Initial Premium Annuity Option Annuity Commencement Date| | [$10,000] [LIFE 10-YEAR CERTAIN] [JANUARY 1, 2026] | |----------------------------------------------------------------------------| | Separate Account(s) Contract Number | | [SEPARATE ACCOUNT B AND THE FIXED ACCOUNT] [123456] | ------------------------------------------------------------------------------ If the Owner's Issue Age is greater than 75: The Death Benefit is equal to the greater of Accumulation Value or Cash Surrender Value.]
Sample 1
The Cash Surrender Value the current death benefit; .. any existing Policy Debt; .. transactions that occurred during the reporting period; .. the Guideline Premiums, if applicable; and .. any information required by law. In addition to the above report, we will mail you annually a report containing financial statements for the Separate Account and the designated investment company or companies in which the Separate Account invests, the latter of which will include a list of the portfolio securities of the investment company, as required by the Investment Company Act of 1940. We will also send any other reports as required by federal securities law. Policy Illustrations - Upon request we will give you an illustration of the future benefits under this policy based upon both guaranteed and current cost factor assumptions. However, if you ask us to do this more than once in any policy year, we reserve the right to charge you a fee not to exceed $25 per request for this service. Illustrated benefits that are not guaranteed, such as benefits based on the current cost factor assumptions, will vary depending upon a number of factors, including but not limited to, changes in future investment performance. Basis of Values - A detailed statement showing how values are determined has been filed with the state insurance department. All values are at least equal to the minimums required by the law of the state in which this policy is delivered, based on the guaranteed interest for the Fixed Options, as detailed in the Fixed Accumulated Value provision, and 1980 CSO mortality, except for unisex issues which are based on 1980 CSO Table B mortality (80% male and 20% female).
Sample 1
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The Cash Surrender Value the current death benefit; .. any existing Policy Debt; .. transactions that occurred during the policy year; .. changes in the Guideline Premiums, if applicable; and .. any information required by law. In addition to the above reports, an annual report will also be mailed to you. The report will contain financial statements for the Separate Account and the designated investment company or companies or other designated portfolio(s) in which the Separate Account invests, the latter of which will include a list of the portfolio securities of the investment company, as required by the Investment Company Act of 1940, and of any other designated portfolio. We will also send any other reports as required by federal securities law. Policy Illustrations - Upon request we will give you an illustration of the future benefits under this policy based upon both guaranteed and current cost factor assumptions. However, if you ask us to do this more than once in any policy year, we reserve the right to charge you a fee not to exceed $25 per request for this service. Illustrated benefits that are not guaranteed, such as benefits based on the current cost factor assumptions, will vary depending upon a number of factors, including but not limited to, changes in future investment performance. Basis of Values - A detailed statement showing how values are determined has been filed with the state insurance department, if required. All values are at least equal to the minimums required by the law of the state in which this policy is delivered. The values are based on the Commissioner's 1980 Standard Ordinary Mortality Table and interest at the rate of 3%, except for unisex issues which are based on the 1980 CSO Table B and interest at the rate of 3%.
Sample 1
The Cash Surrender Value. If the Owner's Issue Age is greater than 75, the Death Benefit is equal to the greater of Accumulation Value or Cash Surrender Value. SPECIAL FUNDS Where used in this Contract, Special Funds are [the Liquid Asset Division, the Limited Maturity Bond Division, the Fixed Allocations and the Guaranteed Interest Division]. We may add newly available divisions as Special Funds. We may also reclassify an existing division as a Special Fund or remove such designation upon 30 days notice to you. Such reclassification will apply to amounts transferred or otherwise added to such division after the date of change. We may reduce the Mortality and Expense Risk Charge (if applicable) for that portion of the Contract invested in a Special Fund.
Sample 1

Related to The Cash Surrender Value

  • Non-Cash Consideration In the case of the offering of securities for a consideration in whole or in part other than cash, including securities acquired in exchange therefor (other than securities by their terms so exchangeable), the consideration other than cash shall be deemed to be the fair value thereof as determined by the Board of Directors; provided, however, that such fair value as determined by the Board of Directors shall not exceed the aggregate market price of the securities being offered as of the date the Board of Directors authorizes the offering of such securities.

  • Cash Payment The Employee shall make cash payments by wire transfer, certified or bank check or personal check, in each case payable to the order of the Company; the Company shall not be required to deliver certificates for Option Shares until the Company has confirmed the receipt of good and available funds in payment of the purchase price thereof.

  • Proceeds from Shares Sold The Custodian shall receive funds representing cash payments received for shares issued or sold from time to time by each Fund, and shall credit such funds to the account of the appropriate Fund. The Custodian shall notify the appropriate Fund of Custodian's receipt of cash in payment for shares issued by such Fund by facsimile transmission or in such other manner as such Fund and the Custodian shall agree. Upon receipt of Instructions, the Custodian shall: (a) deliver all federal funds received by the Custodian in payment for shares as may be set forth in such Instructions and at a time agreed upon between the Custodian and such Fund; and (b) make federal funds available to a Fund as of specified times agreed upon from time to time by such Fund and the Custodian, in the amount of checks received in payment for shares which are deposited to the accounts of such Fund.

  • Cash Consideration In case of the issuance or sale of additional Shares for cash, the consideration received by the Company therefor shall be deemed to be the amount of cash received by the Company for such Shares (or, if such Shares are offered by the Company for subscription, the subscription price, or, if such Shares are sold to underwriters or dealers for public offering without a subscription offering, the public offering price), without deducting therefrom any compensation or discount paid or allowed to underwriters or dealers or others performing similar services or for any expenses incurred in connection therewith.

  • Determination of Net Asset Value, Net Income and Distributions Subject to applicable federal law including the 1940 Act and Section 3.6 hereof, the Trustees, in their sole discretion, may prescribe (and delegate to any officer of the Trust or any other Person or Persons the right and obligation to prescribe) such bases and time (including any methodology or plan) for determining the per Share or net asset value of the Shares of the Trust or any Series or Class or net income attributable to the Shares of the Trust or any Series or Class, or the declaration and payment of dividends and distributions on the Shares of the Trust or any Series or Class and the method of determining the Shareholders to whom dividends and distributions are payable, as they may deem necessary or desirable. Without limiting the generality of the foregoing, but subject to applicable federal law including the 1940 Act, any dividend or distribution may be paid in cash and/or securities or other property, and the composition of any such distribution shall be determined by the Trustees (or by any officer of the Trust or any other Person or Persons to whom such authority has been delegated by the Trustees) and may be different among Shareholders including differences among Shareholders of the same Series or Class.

  • Cash Payments in Lieu of Fractional Shares No fractional shares of Common Stock or scrip representing fractional shares shall be issued upon conversion of Notes. If more than one Note shall be surrendered for conversion at one time by the same holder, the number of full shares that shall be issuable upon conversion shall be computed on the basis of the aggregate principal amount of the Notes (or specified portions thereof to the extent permitted hereby) so surrendered. If any fractional share of stock would be issuable upon the conversion of any Note or Notes, the Company shall make an adjustment and payment therefor in cash at the current market price thereof to the holder of Notes. The current market price of a share of Common Stock shall be the Closing Price on the last Business Day immediately preceding the day on which the Notes (or specified portions thereof) are deemed to have been converted.

  • Total Consideration The aggregate consideration (the "Consideration") payable by the Surviving Partnership in connection with the merger of the Merged Partnership with and into the Surviving Partnership shall be $9,580,000., subject to adjustments at Closing pursuant to Section 3.9 and costs paid pursuant to Section 3.10(c) and Section 3.11, plus the amount of any tax or other reserves held by the Existing Lender (hereinafter defined).

  • Payment of Consideration The Purchaser shall, following receipt of the Final Order and immediately prior to the Effective Time, provide (i) the Depositary with sufficient funds to be held in escrow (the terms and conditions of such escrow to be satisfactory to the Company and the Purchaser, acting reasonably) to satisfy the aggregate Consideration payable to the Shareholders, and (ii) the Company with the Funding Loan to satisfy the required payments under the Arrangement to the holders of Options, all as provided in the Plan of Arrangement.

  • Cash Payments Merchant may not receive any payments from a Cardholder for charges included in any Transaction resulting from the use of any Card nor receive any payment from a Cardholder to prepare and present a Transaction for the purpose of affecting a deposit to the Cardholder's Card account.

  • Merger Consideration Subject to the provisions of this Agreement, at the Effective Time, automatically by virtue of the Merger and without any action on the part of any Person:

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