Election of Option. The following options are available to you during your lifetime. They are also available to the Beneficiary after your death, if you have not selected an option for such Beneficiary. You may elect to have the cash surrender Value, Contract Account Value or Death Benefit paid in accordance with any one of the options described below or in any other manner acceptable to us. If no election has been made, the automatic option shall be Option B. The amount paid under these options if fixed and dies not depend on the investment performance of the variable Account.
Election of Option. New Employee A new employee will be able to make an election to access Option A or Option B. Access may be delayed at the discretion of the Ports Corporation for a maximum period of 6 months so that the new employees performance pay timings align with those of other employees.
Election of Option. Contractor shall exercise the option provided in Section 15.4.2 by delivery of Notice to Owner not later than ten (10) days after either the Substantial Completion Date or the date of the last completed Performance Test; or the expiration of a previously implemented Remedial Plan, as applicable. For the avoidance of doubt, Contractor may, notwithstanding Contractor’s election of option (b) of Section 15.4.2, elect to pay the Performance Liquidated Damages and achieve Final Completion, pursuant to Section 15.4.2(a) after the expiration of its previously implemented Remedial Plan if Contractor fails to satisfy the Performance Guarantees by such date, based on the most recent Performance Tests.
Election of Option. Xxxxx and Xxxxxx hereby elect to exercise the First Cancellation Option as of the date hereof.
Election of Option. The Participant may elect or revoke an option during the ninety (90) day period before his Retirement Date by filing a written election with the Employer. However, a Participant may not elect more than one (1) option to be effective at the same time. No such election or revocation can be made after the Participant's Retirement Date. To elect an option, a married Participant must make a Qualified Election in accordance with Section 7.6. If a Participant elects an optional form of payment, the amount of retirement income payable to him must be more than fifty percent (50%) of the present value of the retirement income payable to the Participant had the option not been elected, unless the alternate recipient is the Participant's Spouse; otherwise, such election will be deemed null and void.
Election of Option. On the Annuity Date, the Interim Value will be applied to provide annuity payments to You or a payee You designate in accordance with the applicable Settlement Option elected by the Owner or if no Settlement Option was elected, in accordance with the Annuity Payments provision. Withdrawal Charges will not be applied when You elect a Settlement Option and will not be applied to the resulting annuity payments. As stated in the Annuity Payments provision of Your Contract, an election of a Settlement Option must be made in writing by the Owner prior to the Annuity Date and is irrevocable on or after the Annuity Date. Additionally, the Beneficiary may elect to receive the Death Benefit under one of the Settlement Options described below, subject to the satisfaction of section 72(s) of the Internal Revenue Code, as amended. Any election of a Settlement Option by a Beneficiary must be made in writing and is irrevocable on or after the date payments begin. For purposes of the Settlement Options below, the Beneficiary will be the Annuitant. A lump sum along with a Settlement Option may be elected. The amount applied under the Settlement Option must be at least $5,000. Payments made quarterly, semiannually or annually may be elected in lieu of monthly payments. Payments less than $100 will only be made annually. Settlement Options No future payments under any option except as provided in the Settlement Option or by law may be assigned or transferred. In addition to the Settlement Options below, We may provide other options at our discretion:
