Net Withdrawal definition

Net Withdrawal means the payment you will receive as a consequence of your request for a withdrawal, provided sufficient Accumulation Value is available. The Net Withdrawal is equal to the Gross Withdrawal, adjusted by any applicable Market Value Adjustment, less any applicable Surrender Charges and taxes.
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Net Withdrawal means the payment you will receive as a consequence of your request for a withdrawal, provided sufficient Contract Value is available. The Net Withdrawal is equal to the Gross Withdrawal less any applicable Surrender and Premium Enhancement Recapture Charges, and any applicable taxes. Premium Enhancements will be included in the determination of Accumulation Units in the same manner as premium payments. With respect to the GIA Account, interest will be credited to any Premium Enhancement in the same manner as premium payments. Prior to the Maturity Date, you may surrender your contract or withdraw a portion of your Contract Value, without a Surrender Charge or Premium Enhancement Recapture Charge, under the Nursing Home or Terminal Illness Waiver, if the conditions provided in the contract are satisfied. When Surrender Charges are waived due to either the Nursing Home or Terminal Illness Waiver, any Premium Enhancements not previously assessed a Premium Enhancement Recapture Charge that are credited during the 12 months prior to the date of surrender or withdrawal, will be deducted from the Contract Value prior to payment of the surrender or withdrawal. Any death benefit proceeds will be reduced by any Premium Enhancements not previously assessed a Premium Enhancement Recapture Charge credited during the 12 months prior to the date of death, unless the Spousal Continuation Option is in effect, as specified in the contract. In no situation will we recapture an amount that would result in death proceeds after recapture to be less than 100% of premium payments less "Adjusted Partial Withdrawals. Item (3) of the Net Investment Factor provision in Section 6: Separate Account and Investment Options, has been replaced with the following:
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Examples of Net Withdrawal in a sentence

  • When you make a withdrawal, you must specify whether you choose to make a Gross Withdrawal or a Net Withdrawal.

  • In such report, the Contractholder will also specify the application of any such amount under Section 4.3. As used in this Contract, the term Net Withdrawal means for any day the excess, if any of (1) the amounts withdrawn or transferred from the [PLUS Fund], pursuant to the Plan provisions referred to in Section 2.1 on that day, over (2) the amounts allocated or transferred to the [PLUS Fund], pursuant to such provisions on that day.

  • MetLife's share of any Net Withdrawal will be determined by the Trust’s administrative practices described in Section 2.1(5).

  • Under a Net Withdrawal, you receive the full Withdrawal Request Amount; however, the deductions are made to the Guarantee Period Account Value based upon an adjusted Withdrawal Request Amount (“Adjusted Withdrawal Request Amount”) that, after deductions, results in the full Withdrawal Request Amount.

  • The Guarantee Period Account Value is equal to the amount of the purchase payment allocated to a Guarantee Period Account; x Plus credited interest to the Guarantee Period Account; x Less any withdrawals of purchase payments and/or interest from the Guarantee Period Account; and x If any withdrawal is a Net Withdrawal, as defined in the Withdrawal section below, x Any applicable Withdrawal Charge and taxes imposed for such withdrawal will also be deducted from the Guarantee Period Account.

  • The Contractholder will promptly report to MetLife under this Contract the following: MetLife's share of each Net Withdrawal from the [PLUS Fund] made after [MM/DD/YYYY].

  • MetLife's pro-rata share of any Net Withdrawal will bear the same ratio to the total amount of such Net Withdrawal as the amount in the Plan Reserve Account bears to the total amount in the [PLUS Fund] (excluding the [PLUS Fund]’s synthetic GICs with a total return focus).

  • If the City elects to continue to participate in the gains and losses with ACFD’s OPEB plan under option (ii) above, then the Net Withdrawal Liability shall be calculated in accordance with actuarial assumptions for an obligation funded at the level of City’s funding as calculated in ACFD’s actuarial valuations for each year the City participates in gains and losses.

  • Any determination of MetLife's share of any Net Withdrawal will not be affected by the bankruptcy, insolvency or other failure to act of any bank, insurance company or other provider of a [PLUS Fund] funding vehicle.

Related to Net 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.

  • 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.

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

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

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

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

  • 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.

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

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

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

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

  • 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.

  • 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).”,

  • 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).

  • Withdrawal Period as defined in Section 10.13(b).

  • Single Withdrawal Tranche means the amount of the Loan 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.

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

  • 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.

  • Market Participant Energy Withdrawal means transactions in the Day-ahead Energy Market and Real-time Energy Market, including but not limited to Demand Bids, Decrement Bids, real-time load (net of Behind The Meter Generation expected to be operating, but not to be less than zero), internal bilateral transactions and Export Transactions, as further described in the PJM Manuals. Market Seller Offer Cap:

  • Withdrawal Date Any day during the period commencing on the 18th day of the month of the related Distribution Date (or if such day is not a Business Day, the immediately preceding Business Day) and ending on the last Business Day prior to the 21st day of the month of such Distribution Date. The “related Due Date” for any Withdrawal Date is the Due Date immediately preceding the related Distribution Date.

  • Withdrawal Value means a Participant's Account Value minus the applicable Withdrawal Charge. (transfer from original GRA VII NBR/GRA VI NBR -- Series I) P-14020(SBR)(MBR)(NBR)conv.6

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

  • Withdrawal Notice shall have the meaning given in Section 2.1.6.

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