Nonqualified Contracts definition

Nonqualified Contracts. If a Joint Owner is named, a Joint Owner will have an undivided interest in the Contract. Unless otherwise permitted by the Company, the exercise of any ownership right shall require a Written request by all Owners.
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Examples of Nonqualified Contracts in a sentence

  • The sum of these percentages over the life of the Contract cannot exceed 75% for Nonqualified Contracts, or 100% for Contracts issued under a Qualified Plan.

  • Death of an Owner on or after the Annuity Commencement Date Non-qualified Contracts If any Owner dies on or after the Annuity Commencement Date, and before the entire interest in the contract has been distributed, then any remaining portion of such interest will be distributed at least as rapidly as under the method of distribution being used as of the date of death.

  • Joint Annuitants may be named under Non-qualified Contracts and any reference to Annuitant shall include joint Annuitants.

  • Distribution of Death Benefit Proceeds: Non-qualified Contracts We generally will pay the death benefit in a lump sum, unless the Beneficiary elects to have the death benefit distributed over his or her life, in accordance with one of the annuity payout options, as described below.

Related to Nonqualified Contracts

  • Qualified Contract A Contract that qualifies under the Code as an individual retirement annuity (“IRA”) or a Contract purchased under a Qualified Plan that qualifies for special tax treatment under the Code. Qualified Plan — A retirement plan that receives favorable tax treatment under Section 401, 403, 408, 408A or 457 of the Code. SEC — Securities and Exchange Commission.

  • Specified Contracts has the meaning set forth in Section 4.13(a).

  • Specified Contract means any of the following Contracts (together with all exhibits and schedules thereto) to which the Company or any Subsidiary is a party:

  • Transferred Contracts has the meaning ascribed to it in Section 2.1(c).

  • Company Contracts has the meaning set forth in Section 3.13(a).

  • Scheduled Contracts has the meaning set forth in Section 4.16.

  • Related Contracts is defined in clause (c) of Section 2.1.

  • New Contracts means binding new agreements or amendments to existing agreements with customers.

  • Assumed Contracts has the meaning set forth in Section 2.1(d).

  • Assigned Contracts has the meaning set forth in Section 2.01(c).

  • Classified Contract means a contract or subcontract between a legal entity or individual from the State of one Party and a legal entity or individual from the State of the other Party, the implementation of which requires access to Classified Information or its generation;

  • Qualified Contractor ’ means a residential energy ef-

  • Seller Contracts means all contracts, agreements and leases, other than those that are Governmental Permits, to which Seller is a party and pertain to the ownership, operation or maintenance of the Assets or the Business, including those described on Schedule 1.8.

  • Shared Contracts has the meaning specified in Section 4.12(b).

  • Existing Contracts means the existing licenses and contracts given by the Railway Administration / Authority, in relation to commercial establishments, as existing on Station Development Land, as on the date of the Agreement, and as further set out in the Schedules, which shall, for avoidance of doubt, exclude any licenses and/ or contracts in relation to any Excluded Activities and/or Railway Operational Activities;

  • Related Contract means: (i) in relation to the SwapClear Service, a RelatedSwapClear Contract (as such term is defined in the Procedures); (ii) in relation to the RepoClear Service, a Related RepoClear Contract (as such term is defined in the Procedures); (iii) in relation to the ForexClear Service, a Related ForexClear Contract (as such term is defined in the Procedures); (iv) in relation to the EquityClear Service, a Related EquityClear Contract (as such term is defined in the Procedures); (v) in relation to the Listed Interest Rates Service, a Related Listed Interest Rates Contract (as such term is defined in the Procedures)"Relevant Auction Contract"has the meaning given to the term in the Client Clearing Annex"Relevant Business"has the meaning as described in Default Rule 15(c)"Relevant Client Clearing Business"means the Client Clearing Business conducted by a particular Clearing Member in a particular Service"Relevant Contract"has the meaning assigned to it in the Client Clearing Annex"Relevant Default"has the meaning ascribed to it in Rule S1 of Part A of the Rates Service Default Fund Supplement - SwapClear, Rule F2 of the ForexClear Default Fund Supplement or Rule R2 of the RepoClear Default Fund Supplement, as applicable"Relevant FX Amounts"means, in respect of a ForexClear Option Clearing Member and a day, all amounts that are due to be received by such ForexClear Option Clearing Member on such day under a ForexClear Option Contract, ForexClear Swap Contract, ForexClear Deliverable Forward Contract and/or ForexClear Spot Contract in any ForexClear Currency"Relevant FX Liability"has the meaning assigned to it in Regulation 101"re-opening contract"means a contract arising pursuant to Regulation 30(b) or 30(c)"RepoClear Additional Payments Cap"means, in respect of a RCM on any date, an amount equal to the Clearing Member Current Collateral Balance of that RCM in connection with its RepoClear Business as at the date of the Default causing losses leading to an Insufficient Resources Determination (or, where such an Insufficient Resources Determination is made following concurrent Defaults, the date of the earliest Default)"RepoClear Business"means any transaction, obligation or liability arising out of any Fixed Income Contract

  • Retained Contracts shall have the meaning specified in Section 2.1.6.

  • Assigned Contract has the meaning set forth in Section 2.2.

  • Business Contracts has the meaning ascribed to it in Section 1.01(a)(v).

  • Assumed Contract means any Executory Contract or Unexpired Lease assumed by the Reorganized Debtors in accordance with Article V of the Plan.

  • Company Contract means any Contract: (a) to which the Company is a party; (b) by which the Company or any of its assets is or may become bound or under which the Company has, or may become subject to, any obligation; or (c) under which the Company has or may acquire any right or interest.

  • Terminated Contracts has the meaning set forth in Section 5.6(a).

  • SpinCo Contracts means the following contracts and agreements to which either Party or any member of its Group is a party or by which it or any member of its Group or any of their respective Assets is bound, whether or not in writing; provided that SpinCo Contracts shall not include (x) any contract or agreement that is contemplated to be retained by Parent or any member of the Parent Group from and after the Effective Time pursuant to any provision of this Agreement or any Ancillary Agreement or (y) any contract or agreement that would constitute SpinCo Software or SpinCo Technology:

  • Executory Contracts means executory contracts and unexpired leases as such terms are used in 11 U.S.C. § 365, including all operating leases, capital leases, and contracts to which the Debtor is a party or beneficiary on the Confirmation Date.

  • Company Leases shall have the meaning set forth in Section 3.12(a).

  • Covered contract means a DoD prime contract for an amount exceeding the simplified acquisition threshold, except for a fixed-price contract without cost incentives. The term also includes a subcontract for an amount exceeding the simplified acquisition threshold, except for a fixed-price subcontract without cost incentives under such a prime contract.