Common use of Trail Commissions Clause in Contracts

Trail Commissions. When Paid ---------------------------- The 0.25% annual trail is calculated on a quarterly basis as 0.0625%, and is applied to the entire unloaned accumulation value on each quarterly Policy anniversary. Payment will be made at the end of the calendar quarter immediately following the corresponding quarterly Policy anniversary. For example, for Policies issued February 1, the trail is based on the unloaned accumulation value as of February 1, but is not payable until the calendar quarter ended March 31.

Trail Commissions. When Paid WHEN PAID. ---------------------------- The 0.25% annual trail is commissions, as set forth in above, are calculated on a quarterly basis as 0.0625%, and is are applied to the entire unloaned accumulation value on each quarterly Policy anniversary. Payment will be made at the end of the calendar quarter immediately following the corresponding quarterly Policy anniversary. For example, for Policies issued February November 1, 1999, the first trail payment is based on the unloaned accumulation value as of February 1, 2000, but is not payable until the calendar quarter ended ending March 31, 2000, and mailed shortly thereafter.