Deferral of Payment. We reserve the right to delay payment of a surrender or withdrawal after we receive your Request in Good Order for it. We may delay such payment for up to six months upon receipt of written approval from the commissioner of insurance of the state in which this Contract was issued.
Deferral of Payment. The Company shall be permitted to defer payment of any indemnification amount, other than indemnity-related fees and expenses (which shall be reimbursed by the Company on a current basis as provided below), until the earlier of (i) the date that is 12 months following the Closing Date and (ii) the date on which the Company becomes subject to any bankruptcy, insolvency, liquidation or similar proceeding. Interest will accrue on all payment amounts deferred pursuant to this Section 7.04 at a rate of 10% per annum, which amount shall be payable along with the indemnification amount upon termination of the deferral period. To the extent permitted under Section 7.02, the Company shall reimburse a Purchaser and Special Share Purchaser for all indemnity-related fees and expenses (including but not limited to legal fees) within five Business Days of such Purchaser or Special Share Purchaser's request for reimbursement.
Deferral of Payment. By law, we have the right to defer payment of Withdrawals for up to six (6) months from the date we receive the request after making written request and receiving written approval of the Insurance Commissioner. The request shall address the necessity and equitability to all Contract Owners of the deferral.
Deferral of Payment. Employee may elect to defer all or any part of his Severance Payment, Base Salary, and any bonus approved by the Board of Directors until such other time or times as designated by Employee. The election shall be exercisable by the furnishing of written notice to the Board of Directors no later than the last day of the year prior to the year in which the bonus is payable or the benefit vests. Any amounts deferred shall bear interest at the six (6) month rate applicable to Treasury securities determined as of the date of Greenland's receipt of the notice requesting deferral furnished by Employee. Employee may request the Board of Directors that such deferred amounts and interest thereon be set aside in trust for the benefit of Employee subject only to claims of the creditors of Greenland and to such other terms and conditions required by the Board of Directors and communicated in writing to Employee; provided, however, that this action shall be taken only in the sole discretion of the Board of Directors except in the case of a Change in Control, in which case the Board of Directors shall honor such a request by Employee with respect to any amounts which have been or may be deferred pursuant to this Agreement. Employee shall be permitted to withdraw his election to defer his Severance Payment, Base Salary and any bonus if the Board of Directors denies his request to have the deferred amounts and interest set aside in such a trust. Any deferral pursuant to this Section must be accompanied by a statement that Employee acts with the advice of counsel or waives any such representation. Greenland has no right to claim an offset against its obligation to pay Employee any amounts deferred in this Section 8.
Deferral of Payment. Notwithstanding the above, a Participant who is entitled to payment of an Award under this Article and who is eligible under the nonqualified deferred compensation plan sponsored by the Company may defer such payment to the extent provided under such plan providing the deferral satisfies the requirements and restrictions imposed by Section 409A. Exhibit 10.1
Deferral of Payment. The Company has the right to suspend or delay the date of payment of a withdrawal or surrender of the Variable Account Value at certain times. We may do this for any period:
Deferral of Payment. We may delay payments or Transfers from the Separate Account under certain circumstances. These include:
Deferral of Payment a. The Company and Executive acknowledge that the Company does not have sufficient free cash flow to commence a repayment of the Deferred Compensation amounts owed on the date of this Agreement.
Deferral of Payment. Unless the Participant elects otherwise, payment of a Participant's Vested Benefit will not be delayed beyond the 60th day after the close of the Plan Year in which the latest of the following events occurs:
Deferral of Payment. Requests for transfers, withdrawals, policy loans or payment of proceeds for a full surrender will be mailed within 7 days of receipt of the request in a form acceptable to us. However, we may postpone the processing of any such Separate Account transactions for any of the following reasons: The New York Stock Exchange (NYSE) is closed, other than customary weekend and holiday closings. Trading on the NYSE is restricted by the Securities and Exchange Commission (SEC). The SEC declares that an emergency exists as a result of which disposal of securities in the Separate Account is not reasonably practicable to determine your account value in the divisions. A governmental body having jurisdiction over the Separate Account by order permits such suspension. Rules and regulations of the SEC, if any, are applicable and will govern as to whether conditions described in (b), (c), or (d) exist. Form 15291-00 20 Death proceeds will be paid within 7 days of determination of the proceeds and are not subject to deferment. We may defer for up to 6 months payment of any surrender proceeds, withdrawal or loan amounts from the Guaranteed Interest Division.
