Contract Maintenance Fee definition

Contract Maintenance Fee means the fee the GLO charges per MMBtu delivered in accordance with 31 Texas Administrative Code §3.31.

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Contract Maintenance Fee. The Contract Maintenance Fee is shown on the Contract Specifications page. It is deducted on each Contract Anniversary, and on any day that the Contract is surrendered, if the surrender occurs on any day other than the Contract Anniversary. The Contract Maintenance Fee will be deducted from the Allocation 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 the Contract Value or the aggregate Purchase Payments reduced by surrenders, withdrawals and associated surrender charges equals or exceeds {$50,000} on the date the Contract Maintenance Fee is to be deducted. TRANSFERS Prior to the Annuity Commencement Date, you may, in a form acceptable to us, instruct us to transfer amounts among the Allocation Options. You must transfer at least {$100}, or if less, the entire amount in the Allocation Option each time you make a transfer. If after the transfer, the amount remaining in any of the Allocation Options from which the transfer is made is less than {$100} we reserve the right to transfer the entire amount instead of the requested amount. We also reserve the right to limit the number of transfers to no more than {12} per year. For each additional transfer over {12} during each Contract Year, we may charge a Transfer Fee which is indicated on the Contract Specifications page. The Transfer Fee, if any, will be deducted from the amount being transferred. Transfers involving a Guaranteed Account are subject to additional restrictions. The maximum amount which may be transferred from the Fixed Account in any Contract Year is the greater of (a) {$2,500}; or (b) {25% of the Fixed Account Value}. Transfers into the DCA Fixed Account are not permitted. The DCA Fixed Account is available only for dollar cost averaging, which is a systematic transfer of funds. Any Purchase Payment allocated to the DCA Fixed Account must include instructions regarding the amount and frequency of the dollar cost averaging transfers, and the Allocation Option(s) into which the transfers are to be made. If, for any reason, transfers from the DCA Fixed Account are terminated, we will transfer any amount remaining in the DCA Fixed Account into the Fixed Account unless you have otherwise instructed us how to allocate the remaining amount. We reserve the right, at any time and without prior notice, to terminate, suspend or modify the transfer privileges described above.

Contract Maintenance Fee. {$30} The contract maintenance fee is deducted prior to the Annuity Commencement Date on each Contract Anniversary, and on any day that the Contract is surrendered other than the Contract Anniversary. The contract maintenance fee will be deducted from the Allocation 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 the Contract Value or the aggregate Purchase Payments reduced by surrenders equals or exceeds $50,000 on the date the contract maintenance fee is to be deducted.

Examples of Contract Maintenance Fee in a sentence

The number of Accumulation Units will be reduced for Withdrawals of Contract Value, annuitizations, amounts transferred out of a Variable Portfolio, the Contract Maintenance Fee, if applicable, and applicable charges for any elected features as set forth in Endorsements to this Contract.
For any month during the term of this Contract for which Exhibit A pricing is not in effect, all natural gas supplied to Receiving Agency will be sold per MMBtu at a price equal to the total sum of: the greater of (i) the first of the month Index Price for the month of flow times 120% or (ii) the average of the Gas Daily Price relative to the referenced Index Price for the month of flow times 120%, plus (a) the Contract Maintenance Fee, and (b) the System Operating Expenses.
This amount will be adjusted for Withdrawals, annuitizations, transfers, the deduction of the Contract Maintenance Fee and applicable charges for any elected features as set forth in Endorsements to this Contract.
The number of Accumulation Units will be reduced for Withdrawals of Contract Value, annuitizations, amounts transferred out of a Variable Portfolio, the Contract Maintenance Fee and applicable charges for optional features as set forth in endorsements to this Contract.
The number of Accumulation Units deducted from the Sub-Account is determined by dividing the pro-rata portion of the Contract Maintenance Fee applicable to that Sub-Account, by the value of an Accumulation Unit for the Sub-Account at the end of the Contract Year, or on the date of surrender, as applicable.
The number of Accumulation Units will be reduced for Withdrawals of Contract Value, annuitizations, amounts transferred out of a Variable Portfolio, the Contract Maintenance Fee and applicable charges for elected features as set forth in endorsements to this contract.
Contract Maintenance Fee - An amount which is deducted from the value of the contract at the end of the Contract Year or on the date of surrender of this contract, if earlier.
The number of Accumulation Units will be reduced for Withdrawals of Contract Value, annuitizations, amounts transferred out of a Variable Portfolio, the Contract Maintenance Fee and applicable charges for elected features as set forth in endorsements to this Contract.
The Surrender Value is the Contract Value less any surrender charge, Contract Maintenance Fee, and applicable premium taxes.
The number of Accumulation Units will be reduced for Withdrawals, Annuitization, amounts transferred out of a Variable Portfolio, the Contract Maintenance Fee, if applicable, and applicable charges for any elected features as set forth in endorsements or riders to this Contract.

More Definitions of Contract Maintenance Fee

Contract Maintenance Fee. [The contract maintenance fee is $30 each Contract Year. The Company reserves the right to change the contract maintenance fee but the fee will never exceed $60 per Contract Year. During the Accumulation Period, if the Contract Value on the Contract Anniversary is at least $50,000, the contract maintenance fee will be waived. During the Accumulation Period, if a full withdrawal is made on other than a Contract Anniversary and the Contract Value for the Business Day during which the full withdrawal is made is less than $50,000, the full contract maintenance fee will be deducted at the time of full withdrawal. If, at annuitization, the Annuity Date is not the Contract Anniversary and the Contract Value on the Annuity Date is less than $50,000, then the full contract maintenance fee will be deducted on the Annuity Date. During the Annuity Period, all contract maintenance fees will be waived.]