Sub-Account definition

Sub-Account means any of the individual sub-accounts of a Participant’s Account that is maintained as provided in Article VIII.

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Sub-Account shall have the meaning provided in Section 2.11(c).

Sub-Account means each portion of an Account designated as such pursuant to this Indenture or the related Indenture Supplement.

Examples of Sub-Account in a sentence

The Net Investment Factor is an index applied to measure the investment performance of a Sub-Account from one Valuation Period to the next.
Assets of Funds held by each Sub-Account will be valued at their Net Asset Value Per Share on each Valuation Day.
The Unit value for each Sub-Account for any Valuation Period is determined by the Net Investment Factor.
However, if an increase is cancelled under this provision and no additional premium payments were required in order to increase the Face Amount, only the first monthly cost of insurance deduction and the administration fee for the increase in Face Amount will be credited back to the Sub-Accounts and Fixed Account in the proportion that each Sub-Account Value and the Fixed Account Value bears to the un-loaned Policy Value.
In the event of such a reduction in the Initial Face Amount, the Company will allocate the partial Surrender Charge to each Sub-Account and the Fixed Account based on the proportion that the value of the Fixed Account and the value of the Sub-Account(s) bear to the total unloaned Policy Value.

More Definitions of Sub-Account

Sub-Account. A separate division of the Variable Account.

Sub-Account. Variable Account assets are divided into Sub-Accounts. Assets of each Sub-Account will be invested in shares of an Eligible Investment or Fund. In this Contract, "Fund" may also refer to the Sub-Accounts from which the Fund investment is made.

Sub-Account has the meaning specified in the Indenture.

Sub-Account means a separate portion of the Account.

Sub-Account. Separate Account assets are divided into Sub-Accounts which are listed on the Contract Schedule. Assets of each Sub-Account will be invested in shares of an Eligible Fund or a Portfolio of an Eligible Fund.

Sub-Account means each portion of a Bank Account designated as such pursuant to this Indenture, the related Indenture Supplement or the applicable Asset Pool Supplement.

Sub-Account means a national section which is opened within each PEPP account and which corresponds to the legal requirements and conditions for using possible incentives fixed at national level for investing in a PEPP by the Member State of the PEPP saver’s residence; accordingly, an individual may be a PEPP saver or a PEPP beneficiary in each sub-account, depending on the respective legal requirements for the accumulation phase and decumulation phase;