Elapsed Years definition
Elapsed Years means the number of full calendar years that have elapsed from the Effective Date until the date that Producer provides notice of termination pursuant to Section 6.2(f). The early termination fee shall be prorated for any partial year based on the number of days remaining in the year of termination from the expiration of the notice period.
Examples of Elapsed Years in a sentence
The charge shall be a percentage of the amount paid or distributed in excess of the Systematic Free Amount and shall be based on the following table: Elapsed Years From Initial Allocation Percentage of or Transfer Amount Distributed Upon the death of the Accountholder no charge will be assessed against any payment or distribution made under this Rider.