Free Withdrawal definition

Free Withdrawal. AMOUNT The Free Withdrawal Amount available in a Contract Year is equal to 15% of the purchase payments that are subject to a Withdrawal Charge as of the beginning of the Contract Year, plus 15% of the purchase payments added to the Contract during the Contract Year. Purchase payments that are no longer subject to a Withdrawal Charge will not be used to determine the Free Withdrawal Amount for a Contract Year, nor will they be assessed a Withdrawal Charge, if withdrawn. During each Contract Year you may withdraw the Free Withdrawal Amount without incurring a Withdrawal Charge; however, the amount withdrawn may be subject to a Market Value Adjustment and any applicable taxes. If you do not withdraw the entire Free Withdrawal Amount during a Contract Year, any remainder is not carried forward to increase the Free Withdrawal Amount in a subsequent Contract Year. The Free Withdrawal Amount is only available during the Accumulation Phase of the Contract.
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Free Withdrawal. Amount Each Contract Year the Free Withdrawal Amount is equal to the greater of 15% of the amount of purchase payments, or 15% of the Contract Value as of the beginning of that Contract Year. Each Contract Year you may withdraw the Free Withdrawal Amount without any Withdrawal Charge; however, the amount withdrawn, may be subject to a Market Value Adjustment. Each Contract Year begins on the anniversary of the date the Contract was established. Any Free Withdrawal Amount which is not withdrawn in a year may not be carried over to increase the Free Withdrawal Amount in a subsequent year. The Free Withdrawal Amount is only applicable during the Accumulation Phase of the Contract. Withdrawal Charge To determine the Withdrawal Charge, we assume that purchase payments are withdrawn first, beginning with the oldest payment. When all purchase payments have been withdrawn, additional withdrawals will not be assessed a Withdrawal Charge. Withdrawals in excess of the Free Withdrawal Amount will be subject to a Withdrawal Charge as follows:
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Free Withdrawal. Amount Each Contract Year, the Free Withdrawal Amount is equal to the greater of 10% of the total amount of purchase payments as of the beginning of that Contract Year, or 10% of the Contract Value as of the beginning of that Contract Year. During each Contract Year, you may withdraw the Free Withdrawal Amount without incurring any Withdrawal Charge. Each Contract Year begins on the anniversary of the date the Contract was established. Any Free Withdrawal Amount which is not withdrawn during a Contract Year is not carried forward to increase the Free Withdrawal Amount in any subsequent Contract Year. The Free Withdrawal Amount only applies during the Accumulation Phase of the Contract. Withdrawal Charge Withdrawals in excess of the Free Withdrawal Amount will be subject to a Withdrawal Charge as follows:
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Examples of Free Withdrawal in a sentence

  • The Free Withdrawal Amount each Contract Year is equal to [10%] of total Purchase Payments, less the total Free Withdrawal Amount previously withdrawn in the same Contract Year.

  • Amounts withdrawn up to the Free Withdrawal Amount will not be deemed a withdrawal of Contributions for the purpose of calculating a Withdrawal Charge.

  • In the first Contract Year amounts received within [90 days] of the Contract Date are included for purposes of calculating the Free Withdrawal Amount.

  • However the Owner may withdraw up to the Free Withdrawal Amount during a Contract Year without incurring a CDSC.

  • The Free Withdrawal Amount does not apply to a surrender of this Contract.

  • The Free Withdrawal Amount does not apply when calculating the Withdrawal Charge applicable upon a surrender.

  • Withdrawals in excess of the Free Withdrawal Amount will be deemed withdrawals of Contributions in the order in which they were made (that is, the first-in, first-out basis will apply).

  • The Free Withdrawal Amount each Contract Year is equal to 10% of total Purchase Payments, less the total Free Withdrawal Amount previously withdrawn in the same Contract Year.

  • For purposes of this Section, amounts withdrawn up to the Free Withdrawal Amount will not be deemed a withdrawal of any Contributions.

  • The Free Withdrawal Amount will be withdrawn from Purchase Payments on a "first in-first out" (FIFO) basis.


More Definitions of Free Withdrawal

Free Withdrawal. On each Certificate Anniversary, the Free Withdrawal Amount is equal to the greater of: (a) the earnings in the Certificate Holder's Account or (b) 10% of Purchase Payments as of the beginning of the current Certificate Year. On other than Certificate Anniversaries, the Free Withdrawal Amount is equal to the Free Withdrawal Amount at the beginning of the Certificate Year less amount withdrawn without deduction of Contingent Deferred Sales Charges during the current Certificate Year.
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Free Withdrawal. The Free Withdrawal means a percentage of your Contract Account Value that is available for withdrawal without incurring a Transaction Charge or Market Value Adjustment (Free Withdrawal Percentage). The Free Withdrawal Percentage and method of calculation are shown on your Schedule Page. Excess Withdrawal: Partial Withdrawals from the Contract Account Value, in excess of Free Withdrawal, adjusted for associated Market Value Adjustment, Transaction Charges and Taxes, if applicable. Partial Withdrawal: The total amount requested from the Contract Account Value adjusted for associated Market Value Adjustment, Transaction Charges and Taxes, if applicable. As a result, the amount received is the amount requested. All Partial Withdrawals are processed on a first-in first-out basis, with the oldest Contribution withdrawn first. The minimum Partial Withdrawal is $300 and may be changed from time to time at our discretion. Partial Withdrawals will also reduce any Death Benefit payable under the terms of your Contract.
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Free Withdrawal. The Free Withdrawal means a percentage as shown below and applied to your Contract Account Value as the greater of (i) or (ii) below:
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Free Withdrawal. Amount Each Contract Year the Free Withdrawal Amount is equal to 15% of the amount of purchase payments. Each Contract Year you may withdraw the Free Withdrawal Amount without Market Value Adjustment. Each Contract Year begins on the anniversary of the date the Contract was established. Any Free Withdrawal Amount which is not withdrawn in a year may not be carried over to increase the Free Withdrawal Amount in a subsequent year. Market Value Adjustment Activities in a Guarantee Period of the Guaranteed Maturity Fixed Account that may be subject to a Market Value Adjustment are withdrawals in excess of the Free Withdrawal Amount, transfers, death benefits, and amounts applied to an income plan. An activity will be subject to a Market Value Adjustment unless: o it occurs during the 30 day period after a Guarantee Period expires; or o it is a transfer that is part of a Dollar Cost Averaging program.
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Free Withdrawal. AMOUNT: The following amounts may be withdrawn without incurring a surrender charge:
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Free Withdrawal. Amount The Free Withdrawal Amount in a Contract Year is equal to 10% of the Contract Value immediately before you make the first withdrawal from the Contract in that Contract Year. During each Contract Year you may withdraw the Free Withdrawal Amount without incurring a Withdrawal Charge; however, the amount withdrawn may be subject to any applicable taxes. If you do not withdraw the entire Free Withdrawal Amount during a Contract Year, any remainder is not carried forward to increase the Free Withdrawal Amount in a subsequent Contract Year nor is it carried forward to increase the Free Withdrawal Amount of any other Contract Year. The Free Withdrawal Amount is only available during the Accumulation Phase of the Contract. The Free Withdrawal Amount will be reduced by the Withdrawal Request Amount for each Gross Withdrawal; and by the Adjusted Withdrawal Request Amount for each Net Withdrawal. Withdrawal Charge A Withdrawal Charge may be assessed on certain withdrawals from a Guarantee Period Account and may apply upon death. Withdrawals during the Accumulation Phase that exceed the Free Withdrawal Amount will be subject to a Withdrawal Charge as follows:
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Related to Free Withdrawal

  • Free Withdrawal Amount ’ means an amount equal to the percentage, stated in the Data Pages, of the Annuity Account Value, minus the total of all prior withdrawals (and associated Withdrawal Charges) made as described in Section 5.01 in the current Contract Year that may be withdrawn each Contract Year without incurring a Withdrawal Charge. We have the right to change the Free Withdrawal Amount, but it will always be a percentage between 5% and 30% if so provided in the Data Pages.

  • Cash Withdrawal means a disbursement of funds in any currency from any Account out of the balance in your favour (whether or not in the form of cash) made or obtained through or in connection with any Citibank ATM/ Debit Card.

  • Voluntary Withdrawal means a Member’s dissociation with the Company by means other than by a Transfer or an Involuntary Withdrawal.

  • Market Withdrawal means a Person’s Removal or Correction of a distributed product which involves a minor violation that would not be subject to legal action by the FDA or which involves no violation, e.g., normal stock rotation practices, routine equipment adjustments and repairs, etc.

  • Suspension/Withdrawal Event means, in respect of the Benchmark:

  • Final Withdrawal Has the meaning specified in the Escrow Agreement.

  • Single Withdrawal Tranche means the amount of the Financing allocated to the category entitled “Single Withdrawal Tranche” in the table set forth in Part B of Section II of Schedule 1 to this Agreement.

  • Involuntary Withdrawal means, with respect to any Member, the occurrence of any of the following events:

  • Qualified withdrawal means a withdrawal from an account to pay the qualified disability expenses of the designated beneficiary of the account.

  • Event of Withdrawal has the meaning assigned to such term in Section 11.1(a).

  • Final Withdrawal Notice Has the meaning specified in Section 5.02 of this Trust Supplement.

  • Suspension/Withdrawal Event means, in respect of the Benchmark:

  • Firm Transmission Withdrawal Rights means the rights to schedule energy and capacity withdrawals from a Point of Interconnection of a Merchant Transmission Facility with the Transmission System. Firm Transmission Withdrawal Rights may be awarded only to a Merchant D.C. Transmission Facility that connects the Transmission System with another control area. Withdrawals scheduled using Firm Transmission Withdrawal Rights have rights similar to those under Firm Point-to-Point Transmission Service.

  • EU withdrawal agreement means the withdrawal agreement within the meaning of the European Union (Withdrawal Agreement) Act 2020 (see section 39(1) and (6) of that Act).”,

  • Withdrawal Event means the earliest to occur of any event which causes a Partner to cease to be a Partner, and to become a Former Partner, as set forth in Section 1.29.

  • No-Firm Transmission Withdrawal Rights means the rights to schedule energy withdrawals from a specified point on the Transmission System. Non-Firm Transmission Withdrawal Rights may be awarded only to a Merchant D.C. Transmission Facility that connects the Transmission System to another control area. Withdrawals scheduled using Non-Firm Transmission Withdrawal Rights have rights similar to those under Non-Firm Point-to-Point Transmission Service. Non-Performance Charge:

  • Notice of Purchase Withdrawal Has the meaning specified in the Deposit Agreement.

  • Nonqualified withdrawal means a withdrawal from an account that is not:

  • Event of withdrawal of a general partner means an event that causes a person to cease to be a general partner as provided in section 402.

  • Transmission Withdrawal Rights means Firm Transmission Withdrawal Rights and Non- Firm Transmission Withdrawal Rights. APPENDIX 2 STANDARD CONSTRUCTION TERMS AND CONDITIONS Preamble The construction of any Interconnection Facilities required to interconnect a Customer Facility with the Transmission System shall be in accordance with the following Standard Construction Terms and Conditions.

  • Excess Withdrawal is a withdrawal of Account Value that exceeds the Free Withdrawal Amount. This term may not apply to your Contract.

  • Withdrawal means any measure aimed at preventing a product in the supply chain from being made available on the market;

  • Final Withdrawal Date Has the meaning specified in the Escrow Agreement.

  • Repurchase Request Withdrawal As defined in Section 2.03(a) of this Agreement.

  • Power of withdrawal means a presently exercisable general power of appointment other than a power:

  • Rollover Contribution means any rollover contribution to the Plan made by a Participant as may be permitted under Article V.