Cumulative Purchase definition

Cumulative Purchase obligations as such are defined in the Second Amendment. The parties agree that a breach of qad's obligations under the VAR Agreement shall not constitute a breach of qad's obligations under this Agreement. Section 2 of the Second Amendment shall be superseded by the terms and conditions of this Agreement.
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Cumulative Purchase. Payments During Contract Year [1] Investment Credit Percentage ------------------------------------------------------------- ---------------------------- [LESS THAN $50,000 3.0% MORE THAN $49,999.99 BUT LESS THAN $500,000 4.0% MORE THAN 499,999.99 5.0%] [The crediting of the investment credit for the initial purchase payment, and for any purchase payments made during the Free Look Period, will be made at the end of the Free Look Period. Solely for this purpose of crediting the investment credit, the Free Look Period is deemed to end 15 days after the Contract Date.] OR [The crediting of your investment credit for the initial purchase payment, and for any additional purchase payments will be made at the same time your purchase payment is allocated to the Sub-Accounts.] If you make an additional purchase payment during Contract Year [1] that increases your cumulative purchase payments to a higher breakpoint, we will credit an additional investment credit to your Account Value. For each previous purchase payment made during Contract Year [1] we calculate this amount by subtracting (b) from (a), and then multiplying by (c), where:
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Examples of Cumulative Purchase in a sentence

  • Cumulative Purchase Payments after the first Contract Year are limited to the Maximum Additional Purchase Payments shown in the Rider Specifications, without our consent.

  • 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.

  • Total Purchase Payments may not exceed the Maximum Cumulative Purchase Payments shown on page one for the same Owner or Annuitant without our prior consent.

  • Notwithstanding the foregoing, all purchases of [***] made pursuant to the Interim Agreement shall be deemed to be purchases made in Contract Year 2005 under this Agreement for purposes of Buyer’s Cumulative Purchase Commitment as measured at December 31, 2005, for purposes of Buyer’s Yearly Purchase Commitment for the Contract Year 2005, for purposes of the calculations pursuant to Section 1(b) hereof, and for the calculation of Qualifying [***] Tons.

  • Determination of the Owner's Cumulative Purchase Payments and the Bonus Credit percentage is set forth on the Contract Data page(s).

  • For purposes of counting towards Ginkgo’s Production Purchases and Minimum Cumulative Purchase Commitments under this Agreement, Ginkgo shall be deemed to have paid any invoice as if no discount for delayed delivery was in effect.

  • Such additional Production Purchases in excess of the Production Purchase Target for such Contract Year will be creditable towards Ginkgo’s Production Purchases in subsequent Contract Year(s) until such excess amount has been exhausted and will count towards the Minimum Cumulative Purchase Commitment.

  • The Bonus Credit percentage is based upon the amount of the Owner's Cumulative Purchase Payments to the Contract at the time of a Purchase Payment.

  • Cumulative Purchase Payments after the first Contract Year are limited to the Maximum Additional Purchase Payments shown in Rider Specifications.

  • The amount of Purchase Payment eligible for such Premium Bonus is equal to the Net Cumulative Purchase Payment amount minus the sum of Purchase Payments upon which a Premium Bonus has previously been paid.