With Profits Units definition

With Profits Units means the notional units whose value or number vary by reference to bonuses declared, or surpluses otherwise distributed, as determined by the Transferor or Transferee for the purposes of calculating benefits payable under the IFS With Profit Policies.
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With Profits Units means the units we create when a payment is invested in the fund. The value of these units, before the deduction of the annual charge under condition 5.1, may increase, by the addition of bonuses.
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With Profits Units means the notional units whose value or number vary by reference to bonuses declared, or surpluses otherwise distributed, as determined by FLL for the purposes of calculating benefits payable under Policies; "WLUK Scheme" means the scheme pursuant to Section 49 of, and Schedule 2C to, the Insurance Companies Xxx 0000 (application no. 7333 of 2000), the effective date of which was 1 June 2001 (and which was amended by an order of the Court made on 29 November 2004 and a further order of the Court made on 14 September 2011) and which ceases to have effect in accordance with paragraph 43 of this Scheme; "WLUK Scheme Effective Date" means 1 June 2001;
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Examples of With Profits Units in a sentence

  • Any premium received by the Transferee on or after the Effective Date in respect of a Scottish Widows UWP Policy or a Clerical Medical UWP Policy shall be credited to the Combined Fund and the Investment Element in respect thereof shall be transferred from the Combined Fund and credited to the relevant With Profits Fund and applied in allocating With Profits Units in the relevant With Profits Fund in respect of that Policy.

  • Any amounts in respect of a UWP Primary Fund Policy to be allocated to With Profits Units on or after the Effective Time as a result of a switch from Unit Linked Units to With Profits Units, or otherwise, in accordance with the terms of the relevant Policy shall be debited from the relevant Primary Fund and credited to the With Profits Fund and applied in allocating With Profits Units in respect of the relevant Policy.

  • Any Premium received by SLAL on or after the Effective Time in respect of a Unitised With Profits Policy to which this paragraph 23 applies (a “UWP Primary Fund Policy”) shall be credited to the relevant Primary Fund and the WP Investment Element in respect thereof shall be debited from the relevant Primary Fund and credited to the With Profits Fund and applied in allocating With Profits Units in respect of such UWP Primary Fund Policy.

  • Profits and losses arising within the Scottish Widows With Profits Fund from the management of Policies and With Profits Units will generally be shared among particular groups of With Profits Policies and With Profits Units.

  • We use these aggregate Asset Shares to help us tocheck from time to time that the sample or notional Policies and With Profits Units are still appropriate for the groups they are representing.

  • For With Profits Units we are likely to use little smoothing except where we decide that the amount that we pay out for a With Profits Unit is to be the same as if guarantees had applied or where we have told new policyholders that smoothing is likely to apply.

  • Practice All bonus rates and prices of With Profits Units are rounded.

  • The two main classes of bonus that we may add to With Profits Policies (and With Profits Units) are • Reversionary Bonus, which we may add from time to time as permanent increases in the amount of benefit guaranteed, and • Terminal Bonus which we may add, to further increase the total benefit, when we pay out from the Scottish Widows With Profits Fund when guarantees apply.

  • This can also be the case for different groups of WP Benefits (or ‘increments’) set up under a single class of continuing Conventional With Profits Policies and for different groups of With Profits Units under a single class of Policies.

  • Post 3 March 2000 Policies The form of the charges and type of expenses that we allow for when we track Asset Shares for With Profits Units and UWP Annuities are the same as those in respect of equivalent Transferred Policies.


More Definitions of With Profits Units

With Profits Units means notional units (i) whose value or number vary by
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Related to With Profits Units

  • Sub-grant means a grant made or proposed to be made by the Recipient to a Beneficiary out of the proceeds of the Financing for the purpose of financing a Subproject; and “Sub-grants” means more than one such Sub-grant.

  • FTPS Unit means Units which are purchased through the Fund/SERV(R) trading system or on a manual basis through FTP Services LLC or for which FTP Services LLC is acting as FTPS Unit Servicing Agent.

  • Performance Share means an Award denominated in Shares which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section 10.

  • Performance Share Units means Performance Share Units granted to an Eligible Individual under Section 9.1(b).

  • Incentive Distribution Rights has the meaning assigned to such term in the Partnership Agreement.

  • Incentive Distribution Right means a non-voting Limited Partner Interest issued to the General Partner, which Partnership Interest will confer upon the holder thereof only the rights and obligations specifically provided in this Agreement with respect to Incentive Distribution Rights (and no other rights otherwise available to or other obligations of a holder of a Partnership Interest). Notwithstanding anything in this Agreement to the contrary, the holder of an Incentive Distribution Right shall not be entitled to vote such Incentive Distribution Right on any Partnership matter except as may otherwise be required by law.

  • Deferred Stock Units means the number of hypothetical Shares subject to an Election.

  • Restricted Stock Unit Agreement means the agreement consistent with the terms of the Plan between the Company and the recipient of a Restricted Stock Unit that contains the terms, conditions and restrictions pertaining to such Restricted Stock Unit.

  • LTIP Award means each or any, as the context requires, LTIP Award issued under any Equity Incentive Plan.

  • Performance Stock means a Target Number of Shares granted pursuant to Section 10(a) of the Plan.

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Section 5.3.

  • Deferred Share Unit or “DSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 7;

  • Performance Share Award means an Award entitling the recipient to acquire shares of Stock upon the attainment of specified Performance Goals.

  • LTIP means the Long-Term Incentive Plan of the General Partner, as may be amended, or any equity compensation plan successor thereto.

  • Restricted Share Units means an Award which may be earned in whole or in part upon the passage of time or the attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Restricted Stock Units means an Award of stock units subject to such restrictions and conditions as the Administrator may determine at the time of grant.

  • Share Unit means a unit credited by means of an entry on the books of the Corporation to a Participant pursuant to the Plan, representing the right to receive, subject to and in accordance with the Plan, for each Vested Share Unit one Share, at the time, in the manner, and subject to the terms, set forth in the Plan and the applicable Grant Agreement;

  • Core Units means such Units of the Trust that are issued to Core Investors with the condition that these are not redeemable for a period of two years from the close of the First Offer Period. Such Units are transferable with this condition, but otherwise shall rank pari passu with all other Units, save for this restriction. Any transfer of the Core Units, during the first two years of their issue as mentioned herein, shall be affected only on the receipt by the Registrar of a written acceptance of this condition by the transferee.

  • Performance Share Unit or “PSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 6;

  • LTIP Units means LTIP Units, as such term is defined in the Partnership Agreement.

  • Deferred Share means a Share which by its terms of issue is a deferred share as defined in the Statutes and includes a permanent interest bearing share and a Core Capital Deferred Share;

  • Incentive Units means those Partnership Interests described in Section 2 of the Incentive Unit Agreement.

  • Performance Stock Unit means a right granted to a Participant pursuant to Section 8.2, to receive Stock, the payment of which is contingent upon achieving certain Performance Goals or other performance-based targets established by the Committee.

  • Restricted Stock Bonus means Stock granted to a Participant pursuant to Section 8.

  • Restricted Stock Unit Award Agreement means a written agreement between the Company and a holder of a Restricted Stock Unit Award evidencing the terms and conditions of a Restricted Stock Unit Award grant. Each Restricted Stock Unit Award Agreement will be subject to the terms and conditions of the Plan.

  • Sub-Grantee means a person or organization contracted by a Subrecipient that is compensated with CRF funds to provide administration of any portion of the CRF.