EFFECTIVE DATE AND CHANGES TO THE POLICY Sample Clauses

EFFECTIVE DATE AND CHANGES TO THE POLICY. The change to the Paid-up Option will be effective on the monthly processing date on which the request is received at the Home Office, but if the request is not received on a monthly processing date then it will be effective on the next monthly processing date. Upon the change to the Paid-up Option, the following will occur: • any amounts in the Investment Account will be transferred to the Company’s general account; • any amounts in the NM Strength and Stability Account will be combined with the amounts transferred from the Investment Account and will become the Contract Fund Value subject to Section 11.3; • any applicable surrender charge will be deducted; • any existing Policy Debt continues; • the Death Benefit Option will be changed to Option A, if Option A is not in effect at the time of election; • the Definition of Life Insurance will be changed to the Cash Value Accumulation Test, if the Cash Value Accumulation test is not in effect at the time of election; • the Specified Amount will be changed to equal the Paid-up Specified Amount which is equal to the Policy Value (after deduction of the surrender charge and any withdrawals on the date of the change) divided by the factor shown on the Table of Factors for Paid-up Option shown on the Policy Schedule Pages (page 8), for the applicable monthly processing date; • any Death Benefit Guarantee will be terminated; and • any additional benefits will be terminated.
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
EFFECTIVE DATE AND CHANGES TO THE POLICY. The change to the Paid-up Option will be effective on the monthly processing date on which the request is received at the Home Office, but if the request is not received on a monthly processing date then it will be effective on the next monthly processing date. Upon the change to the Paid-up Option, the following will occur: • any amounts in the Investment Account will be transferred to the Company’s general account; • any applicable surrender charge will be deducted; • any existing Policy Debt continues; • the Death Benefit Option will be changed to Option A, if Option A is not in effect at the time of election; • the Definition of Life Insurance will be changed to the Cash Value Accumulation Test, if the Cash Value Accumulation test is not in effect at the time of election; • the Specified Amount will be changed to equal the Paid-up Specified Amount which is equal to the Policy Value (after deduction of the surrender charge and any withdrawals on the date of the change) divided by the factor shown on the Table of Factors for Paid-up Option shown on the Policy Schedule Pages (page 8), for the applicable monthly processing date; • any Death Benefit Guarantee will be terminated; and • any additional benefits will be terminated.
Sample 1

Related to EFFECTIVE DATE AND CHANGES TO THE POLICY

  • Effective Date and Termination This Agreement shall become effective as of the date of its execution, and

  • Changes to the Parties 30.1 Assignments and transfers by Obligors No Obligor may assign or transfer any of its rights and obligations under the Finance Documents without the prior consent of all the Lenders.

  • Effective Date and Term This Agreement shall become effective upon execution by the Parties, and remain effective until all equity interests held by Party B in Party C have been transferred or assigned to Party A and/or any other person designated by Party A in accordance with this Agreement.

  • Changes to Agreement This Agreement may not be amended or modified, nor may any of its provisions be waived, except upon the prior written consent of the parties hereto, except that under no circumstances shall an amendment to, a modification of or a waiver of any provision of the Agreement as to the Advisor require the consent of any Other Advisor.

  • Effective Date, Amendment and Termination A. This Agreement shall become effective as of the date executed by JPMDS or as of the first date thereafter upon which Financial Intermediary performs any service, or receives any payment pursuant hereto.

  • Effective Date and Termination of Agreement This Agreement shall become effective on January 1, 2018 and unless terminated sooner it shall continue in effect until April 30, 2018. It may thereafter be continued from year to year only with the approval of a majority of those trustees of the Fund who are not “interested persons” of the Fund (as defined in the 0000 Xxx) and have no direct or indirect financial interest in the operation of this Agreement or any agreement related to it (the “Independent Trustees”). This Agreement may be terminated as to the Fund as a whole or any class of shares individually at any time by vote of a majority of the Independent Trustees. The Investment Adviser may terminate this agreement upon sixty (60) days’ prior written notice to the Fund.

  • EFFECTIVE DATE AND TERMINATION OF THE CUSTODIAN AS FOREIGN CUSTODY MANAGER. The Board's delegation to the Custodian as Foreign Custody Manager of the Portfolios shall be effective as of the date hereof and shall remain in effect until terminated at any time, without penalty, by written notice from the terminating party to the non-terminating party. Termination will become effective thirty (30) days after receipt by the non-terminating party of such notice. The provisions of Section 3.2.2 hereof shall govern the delegation to and termination of the Custodian as Foreign Custody Manager of the Portfolios with respect to designated countries.

  • Changes to Fee Structure In the event of Listing, the Company and the Advisor shall negotiate in good faith to establish a fee structure appropriate for a perpetual-life entity.

  • Effective Date and Effective Time The closing of the --------------------------------- transactions contemplated hereby ("Closing") shall take place at the offices of Xxxxxxx, Xxxxxx & Xxxxxxxx, 0000 Xxxxxxxxx Xxx. X.X., Xxxxxxxxxx, X.X. 00000, unless another place is agreed to by RCFC and Bayonne, on a date ("Closing Date") that is no later than 14 days following the date on which the expiration of the last applicable waiting period in connection with notices to and approvals of governmental authorities shall occur and all conditions to the consummation of this Agreement are satisfied or waived, or on such other date as may be agreed to by the parties. Prior to the Closing Date, RCFC and Bayonne shall execute a Certificate of Merger in accordance with all appropriate legal requirements, which shall be filed as required by law on the Closing Date, and the Merger provided for therein shall become effective upon such filing or on such date as may be specified in such Certificate of Merger. The date of such filing or such later effective date as specified in the Certificate of Merger is herein referred to as the "Effective Date." The "Effective Time" of the Merger shall be as set forth in the Certificate of Merger.

  • Amendments, changes and supplements Any amendment, change and supplement to this Agreement shall require the execution of a written agreement by all of the Parties.

Time is Money Join Law Insider Premium to draft better contracts faster.