GUARANTEED FUND WITHDRAWALS AND TRANSFER PAYMENTS Sample Clauses

GUARANTEED FUND WITHDRAWALS AND TRANSFER PAYMENTS. Nationwide will make annual Withdrawals from the Guaranteed Fund beginning on the Transfer Date and continuing on each anniversary thereof until the Guaranteed Fund is exhausted. If the Guaranteed Fund has not been exhausted by the fifth (5th) anniversary of the Transfer Date Nationwide shall make a final payment on that date. The first withdrawal will be equal to the Book Value Transfer Limit reduced by the sum of (a) any amounts exchanged from the Guaranteed Fund to a Companion Investment Option during the twelve-month period immediately preceding the withdrawal and (b) any amounts withdrawn from the Guaranteed Fund to make Cash Payments during the twelve (12) month period immediately preceding the Withdrawal. Subsequent Withdrawals will be equal to the Book Value Transfer limit reduced by any amounts withdrawn from the Guaranteed Fund to make Cash Payments during the twelve (12) month period immediately preceding the Withdrawal. SAMPLE Instead of annual Withdrawals, Nationwide may, at its option, make monthly withdrawals in an amount equal to one-twelfth of annual amounts from the Guaranteed Fund, as described in the paragraph above. Each time a Withdrawal is made from the Guaranteed Fund, in accordance with this Section, Nationwide shall make a transfer payment to the Funding Successor in the amount of the Withdrawal, less taxes and applicable charges in accordance with Article VI. In the event that the Contract is terminated by Nationwide as described in Section 7.3 of the Contract, the Termination Fee as described in Section 6.3 of the Contract will be waived. The interest rate after the Transfer Date shall be the amount specified in Section 2.4 of the Contract.
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Related to GUARANTEED FUND WITHDRAWALS AND TRANSFER PAYMENTS

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Premium Contributions i. Effective March 1, 2014, the Company and employees will contribute toward the premium costs of the NECA Health Plan for eligible Regular employees in accordance with this Section.

  • Deposits and Withdrawals Each person when depositing such securities or similar investments in or withdrawing them from a Securities Depository or when ordering their withdrawal and delivery from the safekeeping of the Custodian, shall comply with the requirements of Rule 17f-2(e).

  • Withdrawal From Agreement A. Any Fund may elect to withdraw from this Agreement effective at the end of any monthly period by giving at least 90 days’ prior written notice to each of the parties to this Agreement. Upon the written demand of all other Funds which are parties to this Agreement a Fund shall withdraw, and in the event of its failure to do so shall be deemed to have withdrawn, from this Agreement; such demand shall specify the date of withdrawal which shall be at the end of any monthly period at least 90 days from the time of service of such demand.

  • Rollover Contributions and Transfers The Custodian shall have the right to receive rollover contributions and to receive direct transfers from other custodians or trustees. All contributions must be made in cash or check.

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