Payment Limits definition

Payment Limits. Provision Maximum Purchase Payments -- The maximum total contract purchase payments may not exceed the amounts shown under Contract Data. We reserve the right to increase the maximums. Additional Purchase Payments -- You may make additional purchase payments of at least $100. In addition, if this is an IRA contract, except as otherwise provided in this paragraph, the total purchase payments for any taxable year may not exceed $2,000 or as otherwise provided in the Code and all related laws and regulations which are in effect during the term of this contract. In the case of a rollover contribution described in Sections 402(c), 403(a)(4), 403(b)(8) or 408(d)(3) of the Code, there is no limit on the amount of your purchase payment. No contribution will be accepted under a SIMPLE plan established by any employer pursuant to Code Section 408(p). No transfer or rollover of funds attributable to contributions made by a particular employer under its SIMPLE plan will be accepted from a SIMPLE IRA prior to the expiration of the two-year period beginning on the date the individual first participated in that employer's SIMPLE plan. You shall have the sole responsibility for determining whether purchase payments meet applicable income tax requirements. All purchase payments must be made in cash. If you die before the entire interest in this contract has been distributed to you, and your beneficiary is other than your surviving spouse, no additional purchase payments will be accepted from your beneficiary under this contract. Allocation of Purchase Payments You instruct us on how you want your purchase payments allocated among the fixed account and variable subaccounts. Your choice for the fixed account and each variable subaccount may be made in any whole percent from 0% to 100%. Your allocation instructions as of the contract date are shown under Contract Data. We reserve the right to limit the maximum number of accounts and/or subaccounts to which you can allocate purchase payments or contract value at any time. By written request, or by another method agreed to by us, you may change your choice of accounts or percentages. The first net purchase payment will be allocated as of the end of the valuation period during which we make an affirmative decision to issue this contract. Net purchase payments after the first will be allocated as of the end of the valuation period during which we receive the payment at our administrative office. Contract Value Contract Value The ...
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Payment Limits. Provision Maximum Purchase Payments - The maximum total contract purchase payments may not exceed the amounts shown under Contract Data. We reserve the right to increase the maximums. Additional Purchase Payments - You may make additional purchase payments of at least $500. All purchase payments must be made in cash. If you die before the entire interest in this contract has been distributed to you, and your beneficiary is other than your surviving spouse, no additional purchase payments will be accepted from your beneficiary under this contract. Allocation of Purchase Payments You instruct us on how you want your purchase payments allocated among the fixed account and variable subaccounts. Your choice for the fixed account and each variable subaccount may be made in any whole percent from 0% to 100%. No allocation may be made that would result in a fixed account or variable subaccount value of less than $500. Your allocation instructions as of the contract date are shown under Contract Data. By written request, or by another method agreed to by us, you may change your choice of accounts or percentages. Net purchase payments will be allocated as of the end of the valuation period during which we receive the payment at our home office.
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Payment Limits. Provision Minimum Purchase Payments - The minimum initial purchase payment for certificates is $2,000 (for non-qualified) or $1,000 (for IRA, SEP/IRA unless the certificateholder agrees to establish a bank authorization for at least $100 per month which on an annualized basis, equals $1,200. Maximum Purchase Payments - The maximum total purchase payments for a certificate in the first certificate year is $1,000,000 for ages up to Age 75 or $500,000 for ages 76-85. The Maximum purchase payment in the second or later certificate years is $50,000 per year. Additional Purchase Payments - The owner may make additional purchase payments of at least $100 per month. IRA certificate purchase payments must be: - Active IRA contributions. Active IRA contributions are described in Code Sections 408(b)(2) and 219 and generally may not exceed $2,000 for any taxable year except for the permissible $2,250 contribution of an individual with a non- working spouse; or - Rollover or transfer IRA contributions of accumulated past active IRA contributions. Rollover IRA contributions are described in Code Section 408(d)(3); or
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Examples of Payment Limits in a sentence

  • It also amends the Payment Limits provision to restrict payments after the first contract year to an amount less than Maximum Purchase Payments Permitted, shown under Contract Data.

  • Payment Limits Horizon BCBSNJ limits what it will pay for certain types of charges.

  • The specific Total Payment Limits and Maximum Certificate Coverage limits for each certificate are set forth below.

  • See CRS Report R46248, U.S. Farm Programs: Eligibility and Payment Limits.

  • CRS Report R46248, U.S. Farm Programs: Eligibility and Payment Limits.

  • If Payments will be paid from different sources, we will accept multiple Payments subject to the Payment Limits identified in the Specifications Page.

  • Multiple Payment Limits for a PartnershipA partnership’s potential payment limit is equal to the limit for a single person times the number of persons or legal entities that comprise the ownership of the joint operation plus any additional exemptions or exceptions.

  • See CRS Report R44739, U.S. Farm Program Eligibility and Payment Limits.

  • Projects that request PBVs should also understand that the Fair Market Rents shown in the Income, Rent, Utility Allowance, and Owner-Occupied Housing Payment Limits addendum are published by HUD annually and are the basis for which public housing agencies set their voucher payment standards.

  • In respect of any Accounts which are opened after the date of cancellation of the Administration Module Payment Limits on Accounts will not apply but Payment Limits on Users will continue to apply.


More Definitions of Payment Limits

Payment Limits. Provision Maximum Purchase Payments - The maximum purchase payments in the first or later contract years may not exceed the amounts shown under Contract Data. Additional Purchase Payments -- You may make additional purchase payments of at least the amount shown under Contract Data. Allocation of Purchase Payments In most cases, you request, in whole percentages from 0% to 100%, how you want your purchase payments allocated among the Fixed Account and variable subaccounts. The amount of your purchase payments you may allocate to the Fixed Account is limited as shown under Contract Data. We reserve the right to decrease the allowable Fixed Account Purchase Payment percentage limits from those shown under Contract Data. We will provide 30 days advance written notification if we do so, and will notify you in writing when the restrictions are lifted. Allocations to certain accounts or subaccounts may be limited or required under the terms of certain optional benefit riders, if any, attached to this contract. Your allocations as of the contract date are shown under Contract Data. Unless any restrictions apply, you may, by written request, or other method agreed to by us, change your choice of accounts or percentages. The first net purchase payment will be allocated as of the end of the valuation period during which we make an affirmative decision to issue this contract. Net purchase payments after the first will be allocated as of the end of the valuation period during which we receive the payment at our home office.
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Payment Limits means maximum sums which can be transferred from Bank Products by the Client on the basis of Payment Order by means of Internet Banking and/or Phone Banking and/or Payment Initiation Service during the determined period of time.
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Payment Limits. Provision Maximum Purchase Payments - The maximum total contract purchase payments may not exceed the amounts shown under Contract Data. We reserve the right to increase the maximums. Additional Purchase Payments - You may make additional purchase payments of at least $50. In addition, if this is an XXX contract, except as otherwise provided in this paragraph, the total purchase payments for any taxable year may not exceed $2,000 or as otherwise provided in the Code and all related laws and regulations which are in effect during the term of this contract. In the case of a rollover contribution described in Sections 402(c), 403(a)(4), 403(b)(8), or, 408(d)(3) of the Code, there is no limit on the amount of your purchase payment. All purchase payments must be made in cash. If you die before the entire interest in this contract has been distributed to you, and your beneficiary is other than your surviving spouse, no additional purchase payments will be accepted from your beneficiary under this contract. Cancellation We reserve the right to cancel this contract if all the following conditions exist at the same time:
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Related to Payment Limits

  • Contingent Compensation Payment means any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.

  • Payment Cap For each Mortgage Loan, the percentage limit set forth in the related Mortgage Note concerning the maximum permitted increase in a monthly payment.

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Scheduled Funded Debt Payments means, as of any date of determination for the Borrower and its Subsidiaries, the sum of all scheduled payments of principal on Funded Debt for the applicable period ending on the date of determination (including the principal component of payments due on Capital Leases during the applicable period ending on the date of determination).

  • Annuity Payments The series of payments made to the Owner or any named payee after the Annuity Date under the Annuity Option selected. ANNUITY PERIOD: The period of time beginning with the Annuity Date during which Annuity Payments are made.

  • Additional Payment is as defined in Section 6 of the Agreement.

  • Additional Payments means the amounts required to be paid by the Company pursuant to the provisions of Section 4.2 hereof.

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Upfront Payment has the meaning set forth in Section 4.1.

  • Minimum Payments $50 (with respect to all funds in the aggregate.) No payment pursuant to this Schedule is payable to a dealer, bank or other service provider for the first year with respect to sales of $1 million or more, at no load, in cases where A I M Distributors, Inc. has advanced the service fee to the dealer, bank or other service provider.

  • Capitalization Reimbursement Amount As to any Distribution Date, the amount of Advances or Servicing Advances that were added to the Stated Principal Balance of the related Mortgage Loans during the prior calendar month and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date pursuant to Section 3.10(a)(vii), plus the Capitalization Reimbursement Shortfall Amount remaining unreimbursed from any prior Distribution Date and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date.

  • Agreement Payment means a Payment paid or payable pursuant to this Agreement.

  • Termination Payments means any payment or distribution of Compensation or benefits made pursuant to Section 4.1(a)-(c) of this Agreement.

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Earnout Payments has the meaning specified in Section 2.7.

  • Contingent Payments has the meaning set forth in Section 2.02(a).

  • Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

  • Aggregate Payments as defined in Section 7.2.

  • Advance Payments means the payments made by Customer in advance of delivery with respect of an Aircraft pursuant to Section 4.2 of the Purchase Agreement.

  • Exception Payments means payments to deposit accounts or brokerage accounts, payments to settle securities transactions (including, without limitation, stocks, bonds, securities, futures (forex), options, or an investment interest in any entity or property).

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • Consolidated Scheduled Funded Debt Payments means, as of any date for the applicable period ending on such date with respect to the Borrower Parties on a consolidated basis, the sum of all scheduled payments of principal on Consolidated Funded Indebtedness made during such period (including the implied principal component of payments made on Capitalized Leases during such period) as determined in accordance with GAAP.

  • Monthly Debt Service Payment Amount means, for each Monthly Payment Date, an amount equal to the amount of interest which is then due on all the Components of the Loan in the aggregate for the Interest Period during which such Monthly Payment Date occurs.

  • Consolidated Rental Payments means, for any period, the aggregate amount of all rents paid or payable by Company and its Subsidiaries on a consolidated basis during that period under all Capital Leases and Operating Leases to which Company or any of its Subsidiaries is a party as lessee.

  • Payment Amount has the meaning specified in Section 6.1.