Additional Purchase Payments definition
Additional Purchase Payments means the payments so designated and required to be made by the City pursuant to Section 5.03 hereof.
Additional Purchase Payments. The Purchase Payment Age Limitation and the Minimum Additional Purchase Payment are as shown in the Annuity Schedule. We may further limit or reject certain Purchase Payments. Additional Purchase Payments will be allocated to the Investment Options according to your instructions. If you have not provided any allocation instructions with the additional Purchase Payment, we will allocate it on a pro-rata basis to the Sub-accounts in which your Account Value is then allocated, excluding any Sub-accounts to which you are not permitted to electively allocate or transfer Account Value. If the Account Value in the Sub-accounts to which you may electively allocate Account Value is zero, we will allocate your additional Purchase Payment to a money market Investment Option.
Additional Purchase Payments. Any Purchase Payment limitation and the minimum for any additional Purchase Payment are as shown in the Schedule. We reserve the right to limit or reject certain Purchase Payments. Subject to the "Allocation Rules" herein, unless you otherwise instruct us, any additional Purchase Payments will be allocated among the allocation options according to your most recent allocation instructions. If an allocation option is no longer available, we reserve the right to allocate that portion to the money market allocation option.
Examples of Additional Purchase Payments in a sentence
Additional Purchase Payments must be greater than or equal to the Minimum Additional Purchase Payment shown on the Contract Schedule.
Additional Purchase Payments and Transfers into a subaccount will increase the number of Accumulation Units.
Cumulative Purchase Payments after the first Contract Year are limited to the Maximum Additional Purchase Payments shown in the Rider Specifications, without our consent.
Additional Purchase Payments are Purchase Payments we receive during the Accumulation Phase and before the first Valid Claim.
Additional Purchase Payments - After the initial purchase payment, additional purchase payments may be made at any time while this Contract is in force and before the Income Date.
Additional Purchase Payments — You may make additional Purchase Payments at any time before the Annuity Date, while the Annuitant is living and this Contract is in force.
This contract is not in default if you do not make Additional Purchase Payments.
Failure to make Additional Purchase Payments will not cause the contract to be in default.
Additional Purchase Payments – You may make additional Purchase Payments at any time before the Annuity Date, while the Annuitant is living and this Contract is in force.
Subsequent Purchase Payments Cumulative Purchase Payments after the first Contract Year are limited to the Maximum Additional Purchase Payments shown in the Rider Specifications, without our consent.
More Definitions of Additional Purchase Payments
Additional Purchase Payments. Not permitted on or after the oldest Owner’s or Annuitant’s [ 86th ] birthday or within 3 years of the Annuity Date. Minimum Additional Purchase Payment: $100.00 Maximum Aggregate Purchase Payments: [ $1,000,000.00 ] Mortality & Expense Risk Charge: [ 0.20% ] per year The Mortality & Expense Risk Charge was established on the Issue Date and will not change. Administration Charge: [ 0.10% ] per year The Administration Charge was established on the Issue Date and will not change. Transfer Fee for Transfers in Excess of Limit: $25 for each transfer in excess of 12 per Contract Year. The Transfer Fee was established on the Issue Date and will not change. Contract Maintenance Fee: [ $35.00 ] The Contract Maintenance Fee was established on the Issue Date and will not change. It is deducted prior to the Annuity Date on each Contract Anniversary, and on any day that the Contract is surrendered other than a Contract Anniversary. The Contract Maintenance Fee will be deducted from the Investment Options in the same proportion as their values are to the Contract Value. The Contract Maintenance Fee will be waived by the Company in the event either the Contract Value, or the aggregate Purchase Payments reduced by aggregate withdrawals, equals or exceeds [ $100,000 ] on the date the Fee is to be deducted.
Additional Purchase Payments. The Contract Holder or Participant, as appropriate, may make additional purchase payments of at least the minimum amount shown under Contract Data. We reserve the right to increase the minimums. Participants cannot allocate purchase payments to the Special DCA Fixed Account for six months following a partial surrender from or termination of automated transfers from the Special DCA Fixed Account prior to the end of the elected Special DCA time period. ALLOCATION OF PURCHASE PAYMENTS Participants instruct Us on how purchase payments are to be allocated among the available accounts. Each Participant's allocation instructions as of the Certificate Date are shown under the Participant's Certificate Data. Unless any restrictions apply, a Participant may, by Written Request or other method agreed to by Us, change his or her choice of accounts or percentages. If the current allocation instructions include a fund to which allocations are restricted and the Participant does not provide new instructions, We will apply payments pro rata according to the valid portion of his or her allocation instructions. A Participant's first purchase payment will be allocated as of the end of the Valuation Period during which We make an affirmative decision to issue the Certificate. Purchase payments after the first will be allocated as of the end of the Valuation Period during which We receive the payment at Our corporate office. CONTRIBUTIONS Elective Deferral Contributions and Nonelective Contributions are purchase payments made to each Participant's Certificate Account subject to the applicable annual contribution limits. A Participant may not make Elective Deferral Contributions and/or R▇▇▇ 403(b) Contributions to the Certificate Account which, when added to contributions that are made by the Participant or on his or her behalf to any other salary reduction arrangement that is subject to Section 402(g) of the Code, exceed the annual contribution limitations of Section 402(g) of the Code for each calendar year. If the Plan permits, this annual limit may be increased, however, if Participants are eligible for the special "catch up" limitations under Section 414(v) of the Code for Participants that are age 50 or older and the special limits applicable under Section 402(g)(7) of the Code for certain employees with long term service with the Employer, subject to the ordering rule of IRS Treas. Reg. 1.403(b)-4(c)(3)(iv). For any Participant, the sum of Elective Deferral Contributions...
Additional Purchase Payments. The Purchase Payment Age Limitation and the Minimum Additional Purchase Payment are as shown in the Annuity Schedule. We may further limit or reject certain Purchase Payments. Additional Purchase Payments will be allocated according to your instructions to the one or more Sub-accounts we make available. If you have not provided any allocation instructions with the additional Purchase Payment, we will allocate it on a pro-rata basis to the Sub-account(s) in which your Account Value is then allocated excluding any Sub-account(s) to which you are not permitted to electively allocate or transfer Account Value. P-BBND(2/13) 10 ACCOUNT VALUE ACCOUNT VALUE IN THE SUB-ACCOUNT(S): We determine your Account Value separately for each of the one or more Sub-accounts we make available. To determine the Account Value in each Sub-account, we multiply the Unit Price, as of the Valuation Day for which the calculation is being made, by the number of Units attributable to your Annuity in that Sub-account as of that Valuation Day.
Additional Purchase Payments. The minimum for any additional Purchase Payment is as shown in the Schedule. Additional Purchase Payments may be paid at any time during the Accumulation Period. Subject to the allocation rules herein, amounts are allocated to the investment options according to your most recent instructions. ACCOUNT VALUE AND SURRENDER VALUE General: In the Accumulation Period your Annuity has an Account Value and a Surrender Value. Your total Account Value is the sum of your Account Value in each Sub-account and each Fixed Allocation. Surrender Value is the Account Value less any applicable contingent deferred sales charge, any applicable tax charge, any charges due for optional benefits provided by rider or endorsement and any applicable maintenance fee. Account Value in the Sub-accounts: We determine your Account Value separately for each Sub-account. To determine the Account Value in each Sub-account we multiply the Unit Price as of the Valuation Period for which the calculation is being made times the number of Units attributable to your Annuity in that Sub-account as of that Valuation Period.
Additional Purchase Payments. Not permitted on or after the oldest Owner’s or Annuitant’s [ 86th ] birthday or within 3 years of the Annuity Date. Minimum Additional Purchase Payment: $100.00 Maximum Aggregate Purchase Payments: $1,000,000.00 Mortality & Expense Risk Charge: [ 0.75% ] per year The Mortality & Expense Risk Charge was established on the Issue Date and will not change.