Term Account definition

Term Account means, for any Term Institution, the securities account in the name of the Issuer maintained by such Term Institution during the Term Period, if any, and under the sole control and dominion of such Term Institution, to secure the Issuer’s obligation to repay the Term Deposit made by such Term Institution.
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Term Account means the account(s) in US Dollars and/or AED opened by the Bank in the Customer’s name following receipt by the Bank of a notice of withdrawal in accordance with Clause 4 of this Agreement.
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Term Account means, for any Term Institution, the securities account in the name of the Issuer maintained by such Term Institution during the Term Period, if any, and under the sole control and dominion of such Term Institution, to secure the Issuer's obligation to repay the Term Deposit made by such Term Institution.
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Examples of Term Account in a sentence

  • In addition to any other applicable limitations described in this Booklet, after a Term Account is opened, you may not make deposits into the account before maturity.

  • In addition, withdrawals from any of the Guarantee Periods of the Guaranteed Term Account may be subject to a Market Value Adjustment which may increase or decrease the amount of the withdrawal.

  • MARKET VALUE ADJUSTMENT ("MVA") The adjustment made to any amount you withdraw, surrender, apply to provide Annuity Payments, or transfer from the Guaranteed Term Account prior to the Renewal Date.

  • RENEWAL DATE The first day following the last day of any Guarantee Period in the Guaranteed Term Account.

  • This adjustment may be positive or negative and reflects the impact of changes in applicable interest rates between the time the Purchase Payment, transfer, or renewal is allocated to the Guaranteed Term Account and the time of the withdrawal, surrender, Annuity Payment election or transfer.

  • No more than $250,000 may be allocated between the General Account and the Guaranteed Term Account without our prior consent.

  • Amounts withdrawn from the General Account and the Guaranteed Term Account will be withdrawn on a first-in, first-out basis.

  • In addition to any other applicable limitations described in this Agreement, after a Term Account is opened you may not make deposits into the account before maturity.

  • Transfers into the General Account or Guaranteed Term Account require our prior consent if the combined resulting value in the General Account and Guaranteed Term Account after the transfer is greater than $250,000.

  • Your Contract Value is the sum of your values, determined separately for the General Account, each Guarantee Period of the Guaranteed Term Account, and for each Sub-Account of the Variable Account on any Valuation Date prior to the Annuity Commencement Date.


More Definitions of Term Account

Term Account means any account of a Shareholder, or, if the shares are held in an account in the name of Waterhouse Securities, Inc. or other broker-dealer for benefit of an identified customer, such account, and includes any Plan Account;
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