Where the words definition

Where the words proportionally reduced by the effect of withdrawals" are used in this Contract, the withdrawal reduces those values in the same proportion as it reduces the Contract Value. We calculate the proportion by dividing the Contract Value after the withdrawal by the Contract Value immediately prior to the withdrawal. The resulting percentage is multiplied by the applicable values (before the withdrawal) in determining the death benefit. If the ownership of the Contract changes as a result of an assignment, the value of the death benefit will be reset to the Contract Value as of the date of the assignment. Such value will be treated as a Purchase Payment made on that date for purposes of computing the death benefit. The Beneficiary may, within 60 days of providing proof of death, elect to take the death benefit under one of the death benefit payout options listed below, provided that any payout option shall not include a period certain that exceeds the life expectancy of the Beneficiary. The Beneficiary will be the sole measuring life in determining the amount of any such payout option. If no payout option is selected within the 60 days, the death benefit will be payable as a lump sum. If the primary Beneficiary of the Owner is the spouse of the Owner at the time of the Owner's death, the Contract will continue and the spouse will become the Owner. If the primary Beneficiary of the Joint Owner is the spouse of the Joint Owner at the time of the Joint Owner's death, the Contract will continue. In either case, the spouse may, within 60 calendar days of providing proof of death, elect to take the death benefit under any of the payout options available under this Contract. If the spouse is the surviving Owner or Joint Owner under the Contract, the death benefit will equal the Contract Value. If the Owner and Joint Owner are not spouses at the time of the Owner or Joint Owner's death, the Contract will not continue, the death benefit will equal the Contract Value, and the Beneficiary will be required to choose one of the death benefit payout options described below. In that event, the payout described in Choice 2 and the beginning of the distribution described in Choice 3 will be based on the date of death of the first to die of the Owner or Joint Owner. The death benefit payout options are:
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Where the words daily" or "24-hours" are used in this , they shall refer to the 24-hour period between the daily meter readings.
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Where the words. LANDLORD" and "TENANT" are used in this Lease they shall include Landlord and Tenant and shall apply to persons, both men and women, associations, partnerships and corporations, and in reading this Lease the necessary grammatical changes required to make 27 the provisions hereof mean and apply to them shall be made in the same manner as if written into the Lease; the words "Landlord" and "Lessor" may be used interchangeably, and the words "Tenant" and "Lessee" may be used interchangeably.
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Examples of Where the words in a sentence

  • Where the words “surrogate driver” are added to the Additional Authorised Driver information on the Rental Agreement Summary then the sole driver(s) for the duration of the Rental Period is/are the nominated surrogate driver(s).

  • Where the words “bargaining unit” or “union” are used in this Agreement, such reference shall be deemed to mean COPE Local 378 members employed by the Employer and covered by the certificate referred to in Section 1.01 of this Agreement.

  • Where the words “or equal” or “equal to” appear in Specifications, they shall be interpreted to mean an item or material or equipment similar to that named and which is suited to the same use and capable of performing the same function and be of the same quality as the named.

  • Where the words “we”, “us”, or “our” appear in this Lease, they refer to the Owner or Landlord.

  • Where the words “you” or “yours” appear in this Lease, they refer to the Residents.

  • Where the words "bargaining unit" or "union" are used in this Agreement, such reference shall be deemed to mean CUPE members employed by Coast Mountain Bus Co. Ltd.

  • Where the words "International Unions" are used they shall mean the International Unions as listed above as parties hereto and where the words "Local Unions" are used they shall mean the Local Unions as listed above as parties hereto.

  • Where the words “includes”, “including”, and variations thereof, are used in this Agreement, it shall mean “includes (or including) without limitation”.

  • Where the words "reduced by the effect of withdrawals" are used in connection with the GMDB Step-Up, withdrawals from the Contract will reduce the GMDB Protected Value in the same proportion as they reduce the Contract Value.

  • Where the words “including” or “includes” are used in this Agreement, it means “including (or includes) without limitation”.