Interest Adjustment has the meaning given in Schedule 5;
Interest Adjustment is a positive or negative adjustment that reflects changes in interest rates related to the fixed income assets purchased in support of the Contract. The “Equity Adjustment” is a positive or negative adjustment that reflects changes in economics related to the Index. The Interest Adjustment and Equity Adjustment on any date are determined based on the provisions of the Interim Value Endorsement. Unless you direct otherwise, all partial Withdrawals will be taken first from the Fixed Segment Options (shown on the Segment Contract Schedule), beginning with the Fixed Segment Option with the shortest Segment Term Period. To the extent there are not enough funds in the Fixed Segment Options to cover the entire Withdrawal, we will deduct the remaining balance from the other Segment Options in which you have funds, beginning with Segment Options that have the shortest Segment Term Period. If you have multiple Segment Options with the same Segment Term Period, we will deduct the remaining balance pro rata across those Segment Options. A “Free Withdrawal” is a Withdrawal amount on which no Withdrawal Charges apply. The Free Withdrawal amount available to you in the first Contract Year will be equal to the Free Withdrawal Percentage multiplied by the Purchase Payment. In subsequent Contract Years, the Free Withdrawal amount available to you will be equal to the Free Withdrawal Percentage multiplied by the Contract Value as of the Contract Anniversary on the first day of that Contract Year. The Free Withdrawal Percentages are shown on the Contract Schedule. Any unused portion of the Free Withdrawal amount for a Contract Year cannot be carried over to the following Contract Year. If the amount of a Withdrawal in any Contract Year exceeds the Free Withdrawal amount for that Contract Year, the excess Withdrawal will be subject to any applicable Withdrawal Charge. If you surrender your Contract, a Withdrawal Charge will be applied to any Free Withdrawal previously taken during the same Contract Year. To take a Withdrawal from your Contract, you must notify us. The minimum amount that you may request to be withdrawn from your Contract at any time is $500. If you request a Withdrawal that causes the Contract Value to be less than $2,000, we will treat your request as a surrender of your Contract. We reserve the right to pay Withdrawal amounts directly to you. We may defer payment of any Withdrawals of any type from your Contract for up to six months if the insurance regulat...
Interest Adjustment means the aggregate amount of all unpaid interest as of the close of business on the Closing Date which is not more than 30 days past due under the terms of the Loan Documents in respect of the Loans (other than Loans with respect to REO Property for which there is no Interest Adjustment).
Examples of Interest Adjustment in a sentence
You promise to pay this interest on the first day of each month until the Interest Adjustment Date.
The balance of the interest must be paid on the Interest Adjustment Date.
If the final advance is not made within 12 months of the date of your application for the Mortgage, we will automatically set your Interest Adjustment Date to a date that is approximately 12 months from the date of your application for the Mortgage and the Term will start on that date.
If we advance all or part of the Principal Amount before the Interest Adjustment Date, you promise to pay accrued interest on the money we advance at the Interest Rate from the day we lend you the money until the Interest Adjustment Date.
If the Principal Amount is not advanced in full on the Interest Adjustment Date, the Interest Adjustment Date will change to the date of the final advance.
More Definitions of Interest Adjustment
Interest Adjustment has the meaning set out in the Pension Plan and Employee Benefit Plan Agreement.
Interest Adjustment. Any withdrawal from a Fixed Subaccount prior to the end of a Guarantee Period may also be subject to an Interest Adjustment as described on Page 12 which may increase, decrease, or have no effect on the applicable account values(s). An Interest Adjustment would not apply to a withdrawal effective at the end of a Guarantee Period. DEATH BENEFIT REQUIREMENTS PRIOR TO THE ANNUITY COMMENCEMENT DATE: None ANNUITY PAYMENT REQUIREMENTS: Determination of the First Annuity Payment Date: For 100% Fixed Annuity Payment, the Annuity Payment Date must be at least 30 days after the Annuity Commencement Date. If any portion of the annuity payment will be on a variable basis, the Annuity Payment Date will be 14 days after the Annuity Commencement Date. The Annuity Unit value, if applicable, and Contract Value used to effect annuity payments will be determined as of the Annuity Commencement Date. Minimum Annuity Payment Amount: $50 Minimum Guaranteed Interest Rate for the Fixed Annuity Payment: 2.75% Assumed Investment Rate for the Variable Annuity Payment: Between 3.0% - 5.0% WITH A MORTALITY AND EXPENSE RISK AND ADMINSTRATIVE CHARGE OF 1.40%, THE SMALLEST RATE OF INVESTMENT RETURN REQUIRED TO ENSURE THAT THE DOLLAR AMOUNT OF VARIABLE ANNUITY PAYMENTS DOES NOT DECREASE IS:
Interest Adjustment shall have the meaning assigned thereto in Section 2.2.
Interest Adjustment has the meaning set forth in Section 4.2.
Interest Adjustment. Any withdrawal from a Fixed Subaccount prior to the end of a Guarantee Period may also be subject to an Interest Adjustment as described on Page 12 which may increase, decrease, or have no effect on the applicable account values(s). An Interest Adjustment would not apply to a withdrawal effective at the end of a Guarantee Period.
Interest Adjustment means interest (calculated based on the actual number of days elapsed, assuming a 360-day year) on the Base Purchase Price, as adjusted by the Estimated Adjustment Amount, at the Prime Rate plus 1.0% from (and including) the Effective Date to (but excluding) the Closing Date.
Interest Adjustment. An adjustment to the amount withdrawn, transferred or annuitized from an IA Account prior to the end of the applicable Guarantee Period. The adjustment reflects the change in the value of the funds withdrawn or transferred due to the change in the interest rates since the beginning of the Guarantee Period.