Annual Processing Date definition

Annual Processing Date means every 12th Processing Date starting with the Processing Date next after the Date of Issue.
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Annual Processing Date means every 12th Processing Date starting with the Processing Date next after the Date of Issue. "DEATH BENEFIT" is defined in Section 4. "FIXED ACCOUNT" means an account established by us which accumulates at rates which we will determine and declare from time to time, but which will not be less than 4%. The assets of a Fixed Account are invested in a segment of our General Account. The General Account consists of assets owned by us other than those in separate investment accounts established by us pursuant to applicable law. "FUND" means each division, with a specific investment objective, of a Series Fund. The term "GRACE PERIOD TESTING DATE" means a Processing Date on which we make the determination described in Section 7. We will determine how often a Grace Period Testing Date will occur, but it will occur no less frequently than every 3rd Processing Date. The term "IN FULL FORCE" means that this policy has not lapsed in accordance with Section 7, or terminated in accordance with Section 10. The term "INDEBTEDNESS" means the unpaid balance of a policy loan, including any accrued and unpaid interest. "MINIMUM INITIAL PREMIUM" is the amount shown in Section 1. "MODAL PROCESSING DATE" means the first Processing Date of each premium billing interval. "NET PREMIUM" is as defined in Section 5. "NO LAPSE GUARANTEE PREMIUM" is as defined in Section 6. "PAYMENT" means, unless otherwise stated, payment at our Servicing Office in Boston, Massachusetts. "PLANNED PREMIUM" is the amount shown in Section 1. "POLICY YEAR" means (a) or (b) below whichever is applicable: (a) The first Policy Year is the period beginning on the Date of Issue and ending on the Valuation Date immediately preceding the first Annual Processing Date; (b) Each subsequent Policy Year is the period beginning on an Annual Processing Date and ending on the Valuation Date immediately preceding the next Annual Processing Date. "PREMIUM" is as defined in Section 5. "PROCESSING DATE" means the first day of a policy month. A policy month shall begin on the day in each calendar month which corresponds to the day of the calendar month on which the Date of Issue occurred. If the Date of Issue is the 29th, 30th, or 31st day of a calendar month, then for any calendar month which has fewer days, the first day of the policy month will be the last day of such calendar month. The Date of Issue is not a Processing Date. "SEPARATE ACCOUNT", unmodified, means a separate investment account, established by us pursu...
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Examples of Annual Processing Date in a sentence

  • The increase will take effect on the Annual Processing Date coincident with or next following the date of our approval.

  • If a Schedule of Supplemental Face Amounts is shown in Section 1 which includes increases that would have otherwise become effective except for this policy having been terminated after being in default, such increases in Supplemental Face Amount will be effective on the next Annual Processing Date after the reinstatement date.

  • Loan interest will be payable on each Annual Processing Date and on the date the loan is settled.

  • In the event that you do not pay the Loan Interest Charged when it is due, the loan interest will be borrowed against the policy (capitalized) and added to the Policy Debt on the Annual Processing Date.

  • Loan interest is charged in arrears and is due on each Annual Processing Date and on any date you make a loan repayment.

  • Any increase will be effective on the next Annual Processing Date after our approval, at which time we may require a premium payment for the increase.

  • Restrictions on Transfers out of the Fixed Account The maximum amount that you can transfer out of the Fixed Account in any one Policy Year is limited to the greater of: (a) the Fixed Account Maximum Transfer Percentage shown in Section 1 multiplied by the value in the Fixed Account at the previous Annual Processing Date; and (b) the Fixed Account Maximum Transfer Amount shown in Section 1.

  • If the Annual Processing Date is not a Business Day, the Account Value for the purpose of the Step-Up is determined on the next Business Day after the Annual Processing Date.

  • Each subsequent Policy Year is the period beginning on an Annual Processing Date and ending on the Valuation Date immediately preceding the next Annual Processing Date.

  • Any change will be effective on the next Annual Processing Date after our approval.

Related to Annual Processing Date

  • Processing Date means the day on which the first step of physical Processing is scheduled to occur, as identified in an Acknowledgement.

  • secondary processing means concentration or other beneficiation of iron ore other than by crushing or screening and includes thermal electrostatic magnetic and gravity processing and agglomeration, pelletization or comparable changes in the physical character of iron ore;

  • Processing Services means those services, which are necessary to issue a Card and process a transaction in accordance with Government Requirements and the Rules of any System and Regulatory Authority. Such services shall include but not be limited to: set-up and maintenance of the Card and Cardholder Funds, transaction authorization, processing, clearing and Settlement, System access, Cardholder dispute resolution, System compliance, regulatory compliance, security and fraud control, and activity reporting.

  • Processing Plant means plant systems, located on or off the Leased Premises, that include a gas processing plant, natural gasoline plant, gasoline plant, or other plant where raw unprocessed natural gas is processed to remove or extract Raw Mix from the natural gas stream to produce a Pipeline- Quality Natural Gas or Residue Gas and other products, and the Raw Mix is then either (i) separated by fractionation down to its base components prior to storage and/or transport that meets or conforms to all applicable Gas Processors Association (GPA) Standards and/or Specifications for the commercial sale of each liquefiable hydrocarbon product, or (ii) transported to another plant for separation down to its base components by fractionation prior to storage and/or transport for the commercial sale of each liquefiable hydrocarbon product. Any deductions, costs, or processing fees associated with the removal or recovery of Natural Gas Liquids is strictly limited to only that part of any Processing Plant or facility where Raw Mix is recovered, and if applicable at that plant, also fractionated to their component parts.

  • Processing facility means an establishment that prepares, treats, or converts tangible personal property into finished goods or another form of tangible personal property. The term includes a business engaged in processing agricultural, aquacultural, or maricultural products and specifically includes meat, poultry, and any other variety of food processing operations. It does not include an establishment in which retail sales of tangible personal property are made to retail customers.

  • Processing Fees means all routine, generally applicable City-wide fees required by the City for processing applications and permits including, but not limited to, fees for land use applications, building applications, building permits, and certificates of occupancy.

  • Processing Fee means in relation to a Transaction Summary delivered:

  • Information processing system means an electronic system for creating, generating, sending, receiving, storing, displaying, or processing information.

  • Scheduled Commercial Operation Date shall have the meaning ascribed to it in Clause 5.4.1;

  • Interconnection Activation Date means the date that the construction of the joint facility Interconnection arrangement has been completed, trunk groups have been established, joint trunk testing is completed and trunks have been mutually accepted by the Parties.

  • Support Service means an activity, such as information technology, accounting, human resources, legal, and other support functions that are required to support the ongoing delivery of core services.

  • Data Processing Equipment means any equipment, computer hardware, or computer software (and the lease or licensing agreements related thereto) other than Personal Computers, owned or leased by the Failed Bank at Bank Closing, which is, was, or could have been used by the Failed Bank in connection with data processing activities.

  • Service Activation Date means the same as Activation Date.

  • Billing Date means the date upon which the monthly statement is generated and debited to the customer's account.

  • Origination Date means, with respect to each Mortgage Loan, the date of the Mortgage Note relating to such Mortgage Loan, unless such information is not provided by the Borrower with respect to such Mortgage Loan, in which case the Origination Date shall be deemed to be the date that is 40 days prior to the date of the first payment under the Mortgage Note relating to such Mortgage Loan.

  • Production Period is the period that for winter cereal advances commences October 1, 2021 and terminates September 30, 2023; for advances on all other field crops, honey, hogs, goats, sheep and lambs commences April 1, 2022 and terminates September 30, 2023; and for advances on cattle, continuous flow cattle, and bison commences on April 1, 2022 and terminates on March 31, 2024.

  • Support Services the support services, as described in the Support Services Description, that We provide to You in respect of the Cloud Service.

  • Contract Quarter means a three-month period that commences on January 1, April 1, July 1 or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

  • Collection Period means, with respect to any Payment Date, the period commencing on the first day of the calendar month immediately preceding the month in which such Payment Date occurs (and, in the case of the first Collection Period, the period from (but excluding) the Cutoff Date) and ending on the last day of the calendar month immediately preceding the month in which such Payment Date occurs.

  • Program services means services that include all of the following provided they are pursuant to a program agreement: program needs assessment and development, job task analysis, curriculum development and revision, instruction, instructional materials and supplies, computer software and upgrades, instructional support, administrative and student services, related school to career training programs, skill or career interest assessment services and testing and contracted services.