'Survivor's Option definition

'Survivor's Option means, where applicable, the right of a holder of a Note to require the Company to repay such Note prior to its Stated Maturity upon the death of the owner of such Note, subject to the provisions hereof relating to such option."

'Survivor's Option means, where applicable, the right of a holder of a Note to require the Company to repay such Note prior to its Stated Maturity upon the death of the owner of such Note, subject to the provisions hereof relating to such option..

'Survivor's Option. Unless this Agreement has been declared due and payable prior to the Maturity Date of the related Notes by reason of any Event of Default, or has been previously redeemed or otherwise repaid, the Agreement Holder may request repayment of this Agreement upon the valid exercise of the Survivor’s Option in the Notes by the Representative of the deceased Beneficial Owner of such Notes (a “Survivor’s Option”). Except as provided below, upon the tender to and acceptance by Principal Life of this Agreement (or portion thereof) securing the Notes as to which the Survivor’s Option has been exercised, Principal Life shall repay to the Agreement Holder the amount of the Fund equal to (i) 100% of the principal amount of the Notes as to which the Survivor’s Option has been validly exercised and accepted, plus accrued and unpaid interest on such amount to the date of repayment, or (ii) in the case of Discount Notes, the Issue Price of the Notes as to which the Survivor’s Option has been validly exercised and accepted, plus accrued discount and any accrued and unpaid interest on such amount to the date of repayment. However, Principal Life shall not be obligated to repay: • more than the greater of $2,000,000 or 2% of the aggregate deposit for all funding agreement contracts securing all outstanding notes issued under the Principal® Life CoreNotessm program as of the end of the most recent calendar year; • more than $250,000 in aggregate deposit of funding agreement contracts securing outstanding notes issued under the Principal® Life CoreNotesSM program as to which the Survivor’s Option has been exercised on behalf of any single beneficial owner in any calendar year; or • more than 2% of the Deposit under this Agreement which secures the related Notes, as of the end of the most recent calendar year. Principal Life shall not make repayments pursuant to the Agreement Holder’s request for repayment upon exercise of the Survivor’s Option in amounts that are less than $1,000, and, in the event that the limitations described in the preceding sentence would result in the partial repayment of this Agreement, the principal amount of this Agreement remaining outstanding after repayment must be at least $1,000 (the minimum authorized denomination of this Agreement). A request for repayment by the Agreement Holder upon an otherwise valid election to exercise the Survivor’s Option may not be withdrawn. This Agreement (or portion thereof) accepted for repayment shall be repaid on the...

Examples of 'Survivor's Option in a sentence

• Any Security (or portion thereof) accepted for repayment or repurchase pursuant to exercise of the Survivor's Option will be repaid or repurchased on the first Interest Payment Date to occur at least 20 calendar days after the date of acceptance.

• An otherwise valid election to exercise the Survivor's Option may not be withdrawn.

• CUSIP Number ISIN Number Principal Amount Selling Price Gross Concession Net Proceeds Coupon Type Coupon Rate Coupon Frequency Maturity Date 1st Coupon Date 1st Coupon Amount Survivor's Option Product Ranking 00000XXX0 US74348GTK66 $1,606,000.00 100.000% 1.250% $1,585,925.00 Fixed 7.000% Semi-Annual 8/15/2029 2/15/2025 $33.64 Yes Unsecured Notes Redemption Information: Callable at 100.000% on 2/15/2025 and every business day thereafter (“Optional Redemption Date”).

• If the Survivor's Option is affirmatively specified on the face hereof, the Holder of the Security shall have the right to require the Company to repay a Security prior to its maturity date upon the death of the beneficial owner of the Security as described below.

• CUSIP Number ISIN Number Principal Amount Selling Price Gross Concession Net Proceeds Coupon Type Coupon Rate Coupon Frequency Maturity Date 1st Coupon Date 1st Coupon Amount Survivor's Option Product Ranking 00000XXX0 US74348GTL40 $1,396,000.00 100.000% 2.200% $1,365,288.00 Fixed 7.250% Semi-Annual 8/15/2034 2/15/2025 $34.84 Yes Unsecured Notes Redemption Information: Callable at 100.000% on 2/15/2025 and every business day thereafter (“Optional Redemption Date”).

More Definitions of 'Survivor's Option

'Survivor's Option means the provision, if any, in the Notes permitting optional repayment of such Notes prior to maturity, if requested, following the death of the beneficial owner of such Notes, in accordance with the terms of the Notes.

'Survivor's Option. [ ] Yes (If yes, the attached Survivor's Option Rider is incorporated into this Note)

'Survivor's Option. The term "

'Survivor's Option means the provision in the Notes permitting optional repayment of such Notes prior to maturity, if requested, following the death of the beneficial owner of such Notes, so long as such Notes in accordance with such Notes.

'Survivor's Option. As defined in Section 5.12(a).

'Survivor's Option. Authorized Denominations: (If other than as set forth in the Prospectus Supplement) Dual Currency Note: [ ] Yes (see attached) [ ] No Optional Payment Currency: Designated Exchange Rate: Base Rate: [ ] CD Rate [ ] Commercial Paper Rate [ ] Federal Funds Rate [ ] LIBOR Telerate [ ] LIBOR Reuters [ ] Treasury Rate [ ] Treasury Rate Constant Maturity [ ] Prime Rate [ ] Eleventh District Cost of Funds Rate [ ] Euribor [ ] Other (see attached) Index Maturity: Interest Reset Period or Interest Reset Dates: Interest Payment Dates: Accrue to Pay: [ ] Yes [ ] No

'Survivor's Option means, where applicable, the right of the estate of a holder of Shares to require the Corporation to redeem such Shares upon the death of the holder of such Shares, subject to the provisions hereof relating to such option.