TRANSFER PAYMENT TERMS Sample Clauses
The Transfer Payment Terms clause defines the conditions and schedule under which payments are to be made from one party to another in relation to the transfer of goods, services, or rights. Typically, this clause outlines the payment amounts, due dates, acceptable payment methods, and any penalties for late payment. For example, it may specify that payment is due within 30 days of invoice receipt and must be made via bank transfer. Its core practical function is to ensure both parties have a clear understanding of their financial obligations, thereby reducing the risk of disputes and facilitating smooth financial transactions.
TRANSFER PAYMENT TERMS. Transfer Payments will be made from the Contractholder Fixed Account and the Contractholder Variable Account. Transfer payments from the Contractholder Fixed Account will be made on a pro rata basis from all Rate Segments. Each payment will be in full settlement of our liability for the Transfer Payment. Transfer Payments from the Contractholder Fixed Account will be effective on the Business Day we receive the Transfer Request in Good Order. Transfer Payments from the Contractholder Variable Account will be at the Unit Value of the applicable Subaccount(s) at the close of the Business Day we receive the Transfer Request in Good Order. You agree to provide for the recordkeeping of investment funds available under the Plan on a Participant-level basis, and to furnish us with such information as we may reasonably require in connection with Transfer Requests. We reserve the right to monitor the Participant-level investment activity in order to enforce these transfer provisions. We will notify you immediately upon receipt of a Transfer Request that is inconsistent with the Transfer Payment conditions then in effect. We may, upon notice to you, limit the frequency of Transfer Payments. This action will take effect on the date of the notice. Any such limit will allow transfers as least as frequently as quarterly. --------------------------------------------------------------------------------
TRANSFER PAYMENT TERMS. Transfer Payments may be made from the Contractholder Fixed Account and the Contractholder Variable Account. Each payment will be in full settlement of Our liability for the Transfer Payment. Transfer Payments from the Contractholder Fixed Account will be effective on the Business Day We receive the Transfer Request in Good Order. Transfer Payments from the Contractholder Variable Account will be at the Unit Value of the applicable Separate Account or Subaccount(s) at the close of the Business Day We receive the Transfer Request in Good Order. You agree to provide for the recordkeeping of Plan Investment Funds on a Participant-level basis, and to furnish Us with such information as We may reasonably require in connection with Transfer Requests. We reserve the right to monitor the Participant-level investment activity in order to enforce these transfer provisions. We will notify You immediately upon receipt of a Transfer Request that is inconsistent with the Transfer Payment conditions then in effect. DC-403-2015CT 9
TRANSFER PAYMENT TERMS. 8 WITHDRAWALS PAGE ----------