DEDUCTION FOR CONTRACT MAINTENANCE CHARGE definition

DEDUCTION FOR CONTRACT MAINTENANCE CHARGE. The Contract Maintenance Charge is shown on the Contract Schedule. On each Contract Anniversary the Company will deduct a Contract Maintenance Charge from the Contract Value by subtracting values from the General Account and/or by cancelling Accumulation Units from each applicable Sub-Account to reimburse it for expenses relating to maintenance of this Contract. The Contract Maintenance Charge will be deducted from the General Account and the Sub-Accounts in the Separate Account in the same proportion that the amount of Contract Value in the General Account and each Sub-Account bears to the total Contract Value. However, during the Accumulation Period, if no Purchase Payment has been received during a Contract Year for the General Account, that portion of the Contract Maintenance Charge that is deducted from the General Account will be the lesser of the excess interest over the minimum guaranteed interest credited to the General Account during the Contract Year and the otherwise allocated portion of the Contract Maintenance Charge, not to exceed the Contract Maintenance Charge shown on the Contract Schedule. During the Accumulation Period the Contract Maintenance Charge will be deducted from the Contract Value on each Contract Anniversary while this Contract is in force. If a total withdrawal is made on other than a Contract Anniversary, the Contract Maintenance Charge will be deducted at the time of withdrawal. During the Annuity Period, the Contract Maintenance Charge will be deducted from Annuity Payments and will result in a reduction of each Annuity Payment.
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DEDUCTION FOR CONTRACT MAINTENANCE CHARGE. During the Accumulation Period, on each Contract Anniversary the Company deducts a Contract Maintenance Charge from the Contract Value by reducing the Contract Value in the Fixed Account and/or the MVA Account and by canceling Accumulation Units from each applicable Sub-Account to reimburse it for expenses relating to maintenance of the Contract. The Contract Maintenance Charge will be deducted first from the Fixed Account and if there is insufficient value in the Fixed Account, then the Contract Maintenance Charge will be deducted from the MVA Account or the Sub-Account of the Variable Account with the largest balance. The Contract Maintenance Charge is shown on the Contract Schedule. TRANSFERS TRANSFERS DURING THE ACCUMULATION PERIOD : Subject to any limitation imposed by the Company on the number of transfers during the Accumulation Period shown on the Contract Schedule, an Owner may transfer all or part of his or her Contract Value in the Fixed Account, the MVA Account or a Sub-Account by Authorized Request without the imposition of any Transfer Fee if there have been no more than the number of free transfers shown on the Contract Schedule for the Contract Year. All transfers are subject to the following:
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DEDUCTION FOR CONTRACT MAINTENANCE CHARGE. On each Contract Anniversary the Company will deduct a Contract Maintenance Charge from the Contract Value to reimburse it for expenses relating to maintenance of this Contract. The Contract Maintenance Charge will be deducted from the Fixed Account and the Sub-Accounts in the Separate Account in the same proportion that the amount of Contract Value in the Fixed Account and each Sub-Account bears to the total Contract Value. The Contract Maintenance Charge is deducted from the Separate Account by cancelling Accumulation Units from each applicable Sub-Account. The Contract Maintenance Charge is shown on the Contract Schedule. During the Accumulation Period, the Contract Maintenance Charge will be deducted from the Contract Value on each Contract Anniversary while this Contract is in force. If a total withdrawal is made on other than a Contract Anniversary, the full Contract Maintenance Charge will be deducted at the time of withdrawal. During the Annuity Period, the Contract Maintenance Charge will be deducted from Annuity Payments and will result in a reduction of each Annuity Payment.
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Examples of DEDUCTION FOR CONTRACT MAINTENANCE CHARGE in a sentence

  • DEDUCTION FOR CONTRACT MAINTENANCE CHARGE -- The Company deducts an annual Contract Maintenance Charge from the Contract Value by cancelling Accumulation Units from each applicable Subaccount or reducing the General Account Value to reimburse it for expenses relating to maintenance of this Contract.

  • DEDUCTION FOR CONTRACT MAINTENANCE CHARGE - The Company deducts an annual Contract Maintenance Charge shown on the Contract Data Page, from the Contract Value by cancelling Accumulation Units to reimburse it for administration expenses relating to maintenance of this Contract.

  • CONTRACT MAINTENANCE CHARGE DEDUCTION FOR CONTRACT MAINTENANCE CHARGE - The Company deducts an annual Contract Maintenance Charge shown on the Contract Data Page, from the Contract Value by cancelling Accumulation Units to reimburse it for administration expenses relating to maintenance of this Contract.

Related to DEDUCTION FOR CONTRACT MAINTENANCE CHARGE

  • Maintenance Charges means the charges payable by the applicant to the Maintenance Agency in accordance with the demand raised by the Maintenance Agency for the maintenance and up keep of the said building/ said complex, including common areas and facilities but does not include; (a) the charges for actual consumption of utilities in the Dwelling Unit including but not limited to electricity, water, which shall be charged based on actual consumption on monthly basis and (b) any statutory payments, taxes, with regard to the Dwelling Unit/ said building/said complex.

  • Yield Maintenance Charge With respect to any Mortgage Loan or Serviced Companion Loan, the yield maintenance charge or prepayment premium, if any, payable under the related Note in connection with certain prepayments.

  • Scheduled Maintenance means any adjustment, repair, removal, disassembly, cleaning, or replacement of components or systems required by the manufacturer which is performed on a periodic basis to prevent part failure or equipment or engine malfunction, or anticipated as necessary to correct an overt indication of malfunction or failure for which periodic maintenance is not appropriate.

  • Deferred Maintenance means improvements necessary for continued operations which do not improve productivity or alter the process technology.

  • Maintenance Fees means the non-refundable fees payable annually by Licensee to OT for Support Services;

  • Operation and Maintenance Costs means the costs of:

  • Maintenance Costs means parts and materials, sublet and labour costs of a qualified licensed mechanic for the maintenance of the Revenue Service Vehicles, but shall not include costs associated with interior and exterior transit advertising signs and non-mechanical servicing of Revenue Service Vehicles such as fuelling, clearing fareboxes, cleaning and painting wheel rims, vehicle washing and other work performed by a serviceman; and,

  • Maintenance Schedule means a document which describes the specific scheduled maintenance tasks and their frequency of completion necessary for the safe operation of those aircraft to which it applies;

  • Annual Service Charge for any period means the aggregate interest expense for such period in respect of, and the amortization during such period of any original issue discount of, Indebtedness of the Issuer and its Subsidiaries.

  • Service Charge means the amount charged for making a service available on line and is in addition to the actual fee for a service itself. For example, one who renews a license on line will pay the license renewal fee and a service charge.

  • Maintenance Fee The Maintenance Fee (see Contract Schedule I) will be deducted during the Accumulation Period from the Current Value on each anniversary of the date the Account is established and upon surrender of the entire Account.

  • AMPS Basic Maintenance Amount, as of any Valuation Date, means the dollar amount equal to (i) the sum of (A) the product of the number of shares of AMPS and Other AMPS Outstanding on such Valuation Date multiplied by the sum of (a) $25,000 and (b) any applicable redemption premium attributable to the designation of a Premium Call Period; (B) the aggregate amount of cash dividends (whether or not earned or declared) that will have accumulated for each share of AMPS and Other AMPS Outstanding, in each case, to (but not including) the end of the current Dividend Period that follows such Valuation Date in the event the then current Dividend Period will end within 49 calendar days of such Valuation Date or

  • Monthly Service Fees means the monthly (or 1/12 of the annual fee) subscription fees paid for the affected Cloud Service which did not meet the SA SLA.

  • Operation and Maintenance Expenses or ‘O&M expenses' means the expenditure incurred on operation and maintenance of the project, or part thereof, and includes the expenditure on manpower, repairs, spares, consumables, insurance and overheads;

  • Bond Service Charges means, for any period or payable at any time, the principal of, premium, if any, and interest on the Bonds for that period or payable at that time whether due at maturity or upon redemption, Mandatory Tender or acceleration.

  • maintenance order , in relation to a court, means an order made by a court —

  • Contract Charges means charges that accrue during a given month as defined in Article III. “Contract Term” is defined in Article IV.

  • Monthly Charges means a finance carrying charge of one and one-half of one percent (1.5%) and a storage and handling charge of one-half of one percent (0.5%), in each case of the Cost of the Inventory and/or Special Inventory and/or of the fees for the Product affected by the reschedule or cancellation (as applicable) per month until such Inventory and/or Special Inventory and/or Product is returned to the vendor, used to manufacture Product or is otherwise purchased by Customer.

  • Software Maintenance means the process of modifying software after delivery to correct faults, improve performance or other attributes, or adapt to a changed environment. (Reference ISO/IEC 14764:2006, as amended or superseded.) Software maintenance does not include any customization or configuration.

  • Spread Maintenance Premium means, with respect to any payment or prepayment, an amount equal to the product of the following: (i) the LIBOR Margin, the Alternate Rate Spread or the Base Rate Spread then applicable to each such future installment of interest, multiplied by (ii) the principal amount of the Loan so prepaid, and multiplied by (iii) a fraction, the numerator of which is the number of days following the date through which interest on the prepaid amount has been paid through and including December 14, 2019, and the denominator of which is 360.

  • Service Charges means the fees levied by the municipality in terms of its tariff policy for any municipal services rendered in respect of an immovable property and includes any penalties, interest or surcharges levied or imposed in terms of this policy.

  • Planned Maintenance means any Maintenance BT has planned to do in advance.

  • Routine maintenance means activities to keep an impervious surface as near as possible to its constructed condition. This includes ordinary maintenance activities, resurfacing paved areas, and exterior building changes or improvements which do not materially increase or concentrate stormwater runoff, or cause additional nonpoint source pollution.

  • Start-Up Costs means all fees, costs, and expenses incurred in connection with establishing the State Mitigation Trust and the Indian Tribe Mitigation Trust and setting them up for operation. Start-up costs shall not include the cost of premiums for insurance policies.

  • Generator Maintenance Outage means the scheduled removal from service, in whole or in part, of a generating unit in order to perform necessary repairs on specific components of the facility, if removal of the facility meets the guidelines specified in the PJM Manuals.