Variable Amount Income definition

Variable Amount Income. Payments On the Payout Start Date, the portion of the Contract Value you specify to be applied to Variable Amount Income Payments less any applicable taxes, is applied to the appropriate income payment factor for the selected Income Plan to determine the Initial Variable Amount Income Value. An explanation of the basis for determining income payment factors is described in the Income Payment Tables provision. The Initial Variable Amount Income Value will be allocated among the Variable Sub-accounts you have chosen in the proportions you specified, as described above in the Income Payments provision. The portion of the Initial Variable Amount Income Value allocated to a particular Variable Sub-account is divided by the Annuity Unit Value for that Variable Sub-account on the Payout Start Date. This determines the number of Annuity Units from that Sub-account which will be used to determine your Variable Amount Income Payments. Variable Amount Income Payments, which include your first Variable Amount Income Payment, will vary depending on changes in the Annuity Unit Values for the Sub-accounts upon which the income payments are based. Unless Annuity Transfers are made between Sub-accounts, each income payment from that Sub-account will be that number of Annuity Units multiplied by the Annuity Unit Value for the Sub-account for the Valuation Date on which the income payment is made.
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Examples of Variable Amount Income in a sentence

  • The method of calculating the initial payment is different for Variable Amount Income Payments and Fixed Amount Income Payments.

  • Transfers from the Variable Amount Income Payment to the Fixed Amount Income Payment may not be made for six months after the Payout Start Date.

  • Transfers between Sub-accounts of the Variable Account, or from the Variable Amount Income Payment to the Fixed Amount Income Payment may not be made for six months after the Payout Start Date.

  • For Variable Amount Income Payments, this value is equal to the present value of the Variable Amount Income Payments being terminated, calculated using a discount rate equal to the assumed investment rate that was used in determining the initial variable payment.

  • If you choose an Income Plan which depends on any person's life, transfers between Variable Sub-accounts or from the Variable Amount Income Payment to the Fixed Amount Income Payment may not be made for six months after the Payout Start Date.

  • Variable Amount Income Payments The initial income payment based upon the Variable Account is calculated by applying the portion of the Contract Value in the Variable Account on the Payout Start Date, less any applicable premium tax, to the appropriate value from the Income Payment Table selected.

  • If you do not choose how the Contract Value is to be applied, then the portion of the Contract Value in the Variable Account on the Payout Start Date will be applied to Variable Amount Income Payments, according to the Variable Sub-account allocations as of the Payout Start Date, and the remainder of the Contract Value will be applied to Fixed Amount Income Payments.

  • For Variable Amount Income Payments, this value is equal to the present value of the Variable Amount Income Payments being terminated, calculated using a discount rate equal to the Assumed Investment Rate that was used in determining the initial variable payment.

  • If you choose an Income Plan which does not depend on any person's life, transfers between Variable Sub-accounts are from the Variable Amount Income Payment to the Fixed Amount Income Payment are permitted immediately.PAYOUT TERMS AND CONDITIONS.

  • The Initial Variable Amount Income Value will be allocated among the Variable Sub-accounts you have chosen in the proportions you specified, as described above in the Income Payments provision.

Related to Variable Amount Income

  • Interest Income means interest earned on the Funding;

  • Investment Income means dividends, capital gains, or interest in- come generated from:

  • Pre-Incentive Fee Net Investment Income means interest income, dividend income and any other income (including any other fees, other than fees for providing managerial assistance, such as commitment, origination, structuring, diligence and consulting fees or other fees that the Corporation receives from portfolio companies) accrued during the calendar quarter, minus the Corporation’s operating expenses for the quarter (including the Base Management Fee, expenses reimbursed to the Adviser under this Agreement and any interest expense and dividends paid on any issued and outstanding preferred stock, but excluding the Incentive Fee). Pre-Incentive Fee Net Investment Income includes, in the case of investments with a deferred interest feature (such as original issue discount debt instruments with payment-in-kind interest and zero coupon securities), accrued income that the Corporation has not yet received in cash. Pre-Incentive Fee Net Investment Income does not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation.

  • Allowable Amount on any date, means:

  • Per capita income means the average for the most recent three years for

  • Exempt income means all of the following:

  • Trust Income has the meaning set forth in the Trust Agreement.

  • Interest Margin Except as set forth in the following sentence, with respect to each Class of Regular Certificates, the following percentages: Class I-A Certificates, 0.150%; Class II-A-1 Certificates, 0.050%; Class II-A-2 Certificates, 0.110%; Class II-A-3 Certificates, 0.160%; Class II-A-4 Certificates, 0.240%; Class M-1 Certificates, 0.270%; Class M-2 Certificates, 0.310%; Class M-3 Certificates, 0.330%; Class M-4 Certificates, 0.380%; Class M-5 Certificates, 0.420%; Class M-6 Certificates, 0.510%, Class M-7 Certificates, 0.950%, Class M-8 Certificates, 1.100%, Class M-9 Certificates, 1.950%, Class M-10 Certificates, 2.000% and Class M-11 Certificates, 2.000%. On the first Distribution Date after the Optional Termination Date, the Interest Margins shall increase to the following percentages: Class I-A Certificates, 0.300%; Class II-A-1 Certificates, 0.100%; Class II-A-2 Certificates, 0.220%; Class II-A-3 Certificates, 0.320%; Class II-A-4 Certificates, 0.480%; Class M-1 Certificates, 0.405%; Class M-2 Certificates, 0.465%; Class M-3 Certificates, 0.495%; Class M-4 Certificates, 0.570%; Class M-5 Certificates, 0.630%; Class M-6 Certificates, 0.765%, Class M-7 Certificates, 1.425%, Class M-8 Certificates, 1.650%, Class M-9 Certificates, 2.925%, Class M-10 Certificates, 3.000% and Class M-11 Certificates, 3.000%.

  • covenant income means the gross income payable to a full-time student under a Deed of Covenant by his parent;

  • Unpaid income tax means income tax due but not paid by the date the income tax is required to be paid under applicable law.

  • Median income means the median income by household size for the applicable housing region, as adopted annually by COAH or a successor entity approved by the Court.

  • Applicable Amount means, at any time (the “Applicable Amount Reference Time”), an amount equal to (a) the sum, without duplication, of:

  • Program Income means gross in- come earned by the recipient that is di- rectly generated by a supported activ- ity or earned as a result of the award (see exclusions in § 215.24(e) and (h)). Program income includes, but is not limited to, income from fees for serv- ices performed, the use or rental of real or personal property acquired under federally-funded projects, the sale of commodities or items fabricated under an award, license fees and royalties on patents and copyrights, and interest on loans made with award funds. Interest earned on advances of Federal funds is not program income. Except as other- wise provided in Federal awarding agency regulations or the terms and conditions of the award, program in- come does not include the receipt of principal on loans, rebates, credits, dis- counts, etc., or interest earned on any of them.

  • Family income means all income that is included in a determination of family income under section 143(f) of the internal revenue code, 26 USC 143(f), together with the income of all adults who will reside in the residence, which income might otherwise be excluded from consideration because the individual was not expected to both live in the residence and be primarily or secondarily liable on the mortgage note.

  • REO Income all REO Income received from the Special Servicer;

  • Base Period Income Base Period Income" is an amount equal to Executive's "annualized includable compensation" for the "base period" as defined in Sections 280G(d)(1) and (2) of the Code and the regulations adopted thereunder. Generally, Executive's "annualized includable compensation" is the average of Executive's annual taxable income from Company for the "base period," which is the five calendar years prior to the year in which the Change of Control occurs. These concepts are complicated and technical and all of the rules set forth in the applicable regulations apply for purposes of this Agreement.

  • Fixed Amount has the meaning assigned to such term in Section 1.12(c).

  • Moderate Income means more than 50 percent but less than 80

  • Adjusted Income means, with respect to a HOME Development, the gross income from wages, income from assets, regular cash or noncash contributions, and any other resources and benefits determined to be income by HUD, adjusted for family size, minus the deductions allowable under 24 CFR §5.611.

  • Reference Interest Rate means the interest rate which is used as the basis for calculating any interest to be applied and which comes from a publicly available source which can be verified by both parties to a payment service contract;

  • Moderate-income unit means a restricted unit that is affordable to a moderate-income household.

  • Allocable Amount has the meaning specified in Section 10.21(d).

  • Consolidated Interest Income means, for any period, the interest income of the Consolidated Group for such period, determined on a consolidated basis in accordance with GAAP.

  • Calculation Date means each day on which the Reference Price is published by the Index Sponsor or the Index Calculation Agent, as the case may be.

  • Class E Interest Rate means 4.67% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Federal short-term rate means the rate of the average market yield on outstanding marketable obligations of the United States with remaining periods to maturity of three years or less, as determined under section 1274 of the Internal Revenue Code, for July of the current year.