Fifth Option definition

Fifth Option. Specified Amount of Income The Company will make equal monthly payments which will include both principal and interest. Payments will be in the amount chosen. Payments may be quarterly or at any other frequency chosen, and payments may be for different amounts, all subject to the consent of the Company. Payments will start on the Option Date and will continue until the balance is fully paid out. At the death of the Payee any unpaid balance and accrued interest will be paid in one sum. The rate of interest will be set each year by the Company; but the rate will not be less than 3 1/2% per year. Interest will be added each year to the principal and will earn interest.
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Fifth Option. Specified Amount of Income The Company will make monthly payments which will include both principal and interest. Payments will be in the amount chosen. Payments can be quarterly or at any other frequency chosen, and payments can be for different amounts, all subject to the consent of the Company. Payments will start on the Option Date and will continue until the balance is fully paid out. At the death of the Payee any unpaid balance and accrued interest will be paid in one sum. The rate of interest will be set each year by the Company; but the rate will not be less than 3 1/2% per year. Interest will be added each year to the principal and will earn interest. -------------------------------------------------------------------------------- Sixth Option: Life Income for Two Lives The Company will make monthly payments. Payments will start on the Option Date and will continue: . While either of two Payees is living, called "Joint and Survivor Life Income"; or . While either of two Payees is living, but for at least 10 years, called "Joint and Survivor Life Income, 10 Years Certain"; or . While two Payees are living, and after the death of one Payee, two-thirds of the monthly amount while the other Payee is living, called "Joint and 2/3 to Survivor Life Income". --------------------------------------------------------------------------------
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Fifth Option. SPECIFIED AMOUNT OF INCOME The Company will make monthly payments which will include both principal and interest. Payments will be in the amount chosen. Payments can be quarterly or at any other frequency chosen, and payments can be for different amounts, all subject to the consent of the Company. Payments will start on the Option Date and will continue until the balance is fully paid out. At the death of the Payee any unpaid balance and accrued interest will be paid in one sum. The rate of interest will be set each year by the Company; but the rate will not be less than 3 1/2% per year. Interest will be added each year to the principal and will earn interest. SIXTH OPTION: LIFE INCOME FOR TWO LIVES The Company will make monthly payments. Payments will start on the Option Date and will continue: - While either of two Payees is living, called "Joint and Survivor Life Income"; or - While either of two Payees is living, but for at least 10 years, called "Joint and Survivor Life Income, 10 Years Certain"; or
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Examples of Fifth Option in a sentence

  • To withdraw principal and interest under the Fourth or Fifth Option; or .

  • Payments may be received on either a fixed or a variable basis, or both, except that payments under the Fifth Option must be made on a fixed basis.

  • If the Fifth Option is elected, the Accumulation Value will provide a Fixed Annuity.

  • Each of the First Option, Second Option, Third Option, Fourth Option, and Fifth Option (together, the “Options”) are governed by the Parent’s relevant equity plan and/or award agreement, unless specifically stated otherwise in this Agreement.

  • As an illustration of the immediately preceding sentence, if at the time of Tenant’s exercise of its fifth expansion option, Tenant exercised all of the prior expansion options for all of the Option Space available for expansion as described above, the Fifth Option Space will consist of either (A) the entire 4th floor of the Building, or (B) both the entire 4th and the entire 5th floors of the Building, as determined by Tenant.

  • The table for the Fifth Option is based on an interest rate of 5% per annum.

  • The table for the Fifth Option is based on an interest rate of 3% per annum.

  • In the selection of a Payment Option the right can be given to the Payee: - To withdraw principal and interest under the Fourth or Fifth Option; or - To withdraw the commuted value of payments certain under the First, Second, or Sixth Option.

  • If, however, at the time of Tenant’s exercise of its fifth expansion option, Tenant previously expanded into the Remaining 9th Floor Space, then the Fifth Option Space shall consist of one (1) or two (2) full floors (as specified by Tenant in its exercise notice for the fifth expansion option) which is/are contiguous to the lowest floor of the Option Space actually leased by Tenant pursuant to the foregoing provisions of this Paragraph 7.

  • Consultant also agrees that he will have until the earlier of: 1) the 90th day following termination of this Agreement or 2) the expiration date of the respective option to exercise any vested shares under the First Option, Second Option, Third Option, Fourth Option, Fifth Option and Sixth Option.

Related to Fifth Option

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Vested Option means any Option, which has already been vested according to the Vesting Dates.

  • Top-Up Option has the meaning set forth in Section 1.04(a).

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to Exercise the Option.