GUARANTEED INTEREST Sample Clauses

GUARANTEED INTEREST. FUND The portion of the contract that is credited with a guaranteed interest rate and which is held as part of the general assets of the Company. The Guaranteed Interest Fund may consist of a Class A Guaranteed Interest Fund and a Class B Guaranteed Interest Fund. HOME OFFICE The office of The Northwestern Mutual Life Insurance Company located at 720 Xxxx Xxxxxxxxx Xxxxxx, Xxxxxxxxx, XX 00000. XNVESTMENT ACCOUNT The Guaranteed Interest Fund and Separate Account Divisions available for allocation of Net Purchase Payments and contract values. The available Investment Accounts are listed on page 3. ISSUE DATE The date this contract is issued and becomes effective. MATURITY DATE The date upon which contract benefits will become payable. If the contract is continued in force under the Optional Maturity Date provision, the Optional Maturity Date will become the Maturity Date. NET PURCHASE PAYMENT A Purchase Payment less all applicable deductions. Deductions may include a Premium Tax. OPTIONAL MATURITY DATE The contract anniversary nearest the Annuitant's 90th birthday. Upon reaching the Maturity Date shown on page 3, the Owner may elect to continue the contract in force until this Optional Maturity Date. OWNER The person possessing the ownership rights stated in this contract. PORTFOLIOS Mutual funds or portfolios of mutual funds in which the assets of the Separate Account are invested. PREMIUM TAX A tax imposed by a governmental entity when Purchase Payments are received or benefits are paid. PRIMARY ANNUITANT The person upon whose life this contract is initially issued. PURCHASE PAYMENT A payment made by or on behalf of the Owner with respect to this contract. SEPARATE ACCOUNT NML Variable Annuity Account A. The Separate Account consists of assets set aside by the Company, the investment performance of which is kept separate from that of the general assets and all other separate account assets of the Company. SUCCESSOR OWNER The person designated to become the Owner upon the death of the Owner, provided the Owner was not the Annuitant at the time of the Owner's death. TRANSFER FEE A deduction that is made from the amount transferred between Investment Accounts. WITHDRAWAL CHARGE A deduction that is made from maturity benefits and withdrawal amounts. WITHDRAWAL CHARGE FREE AMOUNT For a withdrawal, the amount that can be withdrawn without a Withdrawal Charge prior to the withdrawal of Net Purchase Payments VALUATION DATE Any day on which the assets of the Separa...
Sample 1Sample 2Sample 3See All (7)
AutoNDA by SimpleDocs
GUARANTEED INTEREST. The Company shall pay interest to the Holder at the rate of 12% per annum on aggregate uncontroverted and then-outstanding principal amount of this Note (and any increases thereto) from and after the date of each Closing (or any such increases) through and including the Maturity Date. Notwithstanding the above and anything to the contrary contained herein, the minimum amount of interest due and payable hereunder shall be an amount not less than equivalent to twelve percent (12%) of the initial principal amount of this Note. For clarity and not for limitation, such minimum of twelve percent (12%) interest shall be (i) guaranteed, independently of any conversion or repayment of any principal hereunder and (ii) added to the principal amount of this Note prior to calculation of any Late Fees, the Make-Whole Amount, or Mandatory Default Amount.
Sample 1Sample 2Sample 3See All (6)
GUARANTEED INTEREST. DIVISION 4.1 Participant's Account Balance in Guaranteed Interest Division 4.2 Interest
Sample 1Sample 2Sample 3
GUARANTEED INTEREST. Notwithstanding anything contained herein, this Note shall bear interest on the aggregate unpaid Principal Amount and Guaranteed Interest from and after the occurrence and during the continuance of an Event of Default pursuant to Section 7(a) at the rate (the “Default Rate”) equal to the lesser of two percent (2%) per month (twenty-four percent (24%) per annum) or the maximum rate permitted by law. Unless otherwise agreed or required by applicable law, payments will be applied first to any unpaid collection costs, then to any unpaid Default Rate interest and fees; any remaining amount shall be applied first to any unpaid Guaranteed Interest and then to any unpaid Principal Amount. Notwithstanding the dates for payment of Guaranteed Interest, Default Rate interest shall be due and payable by the Company to the Holder on the tenth (10th) day of each calendar month during which Default Rate interest accrued. This Note is subject to the following additional provisions: Upon the execution and delivery of this Note, the sum of $1,250,000.00 shall be remitted and delivered to, or on behalf of, the Company. The Company acknowledges that, during the term of this Note, the Company may become subject to Section 13 or 15(d) of the Exchange Act. Upon such occurrence, the various sections of this Note that are relevant to an issuer becoming a reporting issuer will then apply. Prior to such occurrence, the following terms, among others, contained herein shall not be relevant or applicable to the transactions contemplated by this Note: Average daily dollar volume; Buy-In; Default Conversion Price; DTC; DTC/FAST Program; DWAC eligible; Equity Line of Credit; Exchange Act and related periodic reports; Marketplace Rules of the NASDAQ Stock Market; OTC; OTC Markets Group Inc.; Rule 144; Trading Day; Variable Priced Equity Linked Instrument; and VWAP. For so long as the Company’s obligations under this Note have not been fully satisfied, the Company shall provide the Holder with not less than fifteen (15) days’ written notice in advance of the Company becoming subject to Section 13 or 15(d) of the Exchange Act.
Sample 1
GUARANTEED INTEREST. The guaranteed interest rate credited on that portion of the Accumulated Value in the Fixed Account is an effective annual rate of 3%.
Sample 1
GUARANTEED INTEREST. On any Net Purchase Payment(s) maintained RATE -- FIXED ACCOUNT: in the Fixed Account, Aetna will add interest daily at an annual rate no less than 3%. Aetna may add interest daily at any higher rate. Aetna will periodically advise the Contract Holder of the rate being currently credited to the Fixed Account.
Sample 1
GUARANTEED INTEREST. Notwithstanding anything contained herein, this Note shall bear interest on the aggregate unpaid Principal Amount and Guaranteed Interest from and after the occurrence and during the continuance of an Event of Default pursuant to Section 6(a) at the rate (the “Default Rate”) equal to the lesser of two percent (2%) per month (twenty-four percent (24%) per annum) or the maximum rate permitted by law. Unless otherwise agreed or required by applicable law, payments will be applied first to any unpaid collection costs, then to any unpaid Default Rate interest and fees; any remaining amount shall be applied first to any unpaid Guaranteed Interest and then to any unpaid Principal Amount. Notwithstanding the dates for payment of Guaranteed Interest, Default Rate interest shall be due and payable by the Company to the Holder on the tenth (10th) day of each calendar month during which Default Rate interest accrued. This Note is subject to the following additional provisions:
Sample 1
AutoNDA by SimpleDocs
GUARANTEED INTEREST. FUND 1 Net Purchase Payments (see Section 4.2) and amounts transferred from other Investment Accounts under this Contract (see Section 4.4) may be applied to a Guaranteed Interest Fund 1. Contract benefits placed under a variable income plan cannot be applied to a Guaranteed Interest Fund 1. Amounts applied to a Guaranteed Interest Fund 1 become part of the general assets of the Company.
Sample 1

Related to GUARANTEED INTEREST

  • Guaranteed Indebtedness No Credit Party shall create, incur, assume or permit to exist any Guaranteed Indebtedness except (a) by endorsement of instruments or items of payment for deposit to the general account of any Credit Party, and (b) for Guaranteed Indebtedness incurred for the benefit of any other Credit Party if the primary obligation is expressly permitted by this Agreement.

  • Non-Guaranteed Elements From and after the Effective Date, the Ceding Company shall establish Non-Guaranteed Elements for the Business Reinsured in accordance with the Non-Guaranteed Element Policy. The Reinsurer may make recommendations to the Ceding Company and the Ceding Company shall fully consider such recommendations and shall not unreasonably reject any such recommendations that comply with the terms of the Business Reinsured, applicable law and applicable Actuarial Standards of Practice, however, the Ceding Company shall retain the ultimate authority to establish Non-Guaranteed Elements in accordance with the Non-Guaranteed Element Policy.

  • Guaranty of Payment and Performance Guarantor’s obligations under this Guaranty constitute an unconditional guaranty of payment and performance and not merely a guaranty of collection.

  • Guaranteed Obligations The Company, jointly and severally with any other guarantors, hereby absolutely, unconditionally and irrevocably guarantees to the Agent and the Lenders on a continuing basis the full, complete and punctual payment when due, whether at stated maturity, by acceleration or otherwise, of any and all sums due from, and any and all Obligations of the Borrower to the Agent and the Lenders now or hereafter existing under the Notes, the Letters of Credit, the Secured Hedging Obligations and the Amended and Restated Credit Agreement, without regard to the Borrower's use of the proceeds of the Loans, the Letters of Credit or the Secured Hedging Obligations, whether for principal, premium, interest, fees, costs, expenses or otherwise, including, without prejudice to the generality of the foregoing, the prompt payment of the Notes and payment of interest and premium thereon at the times and in the manner specified in the Notes and the Amended and Restated Credit Agreement, prompt payment of amounts owing pursuant to the issuance of the Letters of Credit, prompt payment of the Secured Hedging Obligations at the times and in the manner specified in the documentation therefor and the payment of any and all expenses (including reasonable counsel fees and expenses) incurred by the Agent and the Lenders in enforcing any rights under the Notes, the Letters of Credit, the Secured Hedging Obligations, the Amended and Restated Credit Agreement and this Agreement. Without limiting the generality of the foregoing, the Company's liability shall extend to all amounts that would be owed by the Borrower to the Agent and the Lenders under the Amended and Restated Credit Agreement but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving the Borrower. Each of the obligations guaranteed as set forth in this Section 2.1 is hereinafter referred to severally as a "Guaranteed Obligation" and collectively as the "Guaranteed Obligations".

  • Prior Payment of Guaranteed Obligations In any proceeding under any Bankruptcy Law relating to any other Loan Party, each Guarantor agrees that the Secured Parties shall be entitled to receive payment in full in cash of all Guaranteed Obligations (including all interest and expenses accruing after the commencement of a proceeding under any Bankruptcy Law, whether or not constituting an allowed claim in such proceeding (“Post Petition Interest”)) before such Guarantor receives payment of any Subordinated Obligations.

  • Guaranty of the Obligations Subject to the provisions of Section 7.2, Guarantors jointly and severally hereby irrevocably and unconditionally guaranty to Administrative Agent for the ratable benefit of the Beneficiaries the due and punctual payment in full of all Obligations when the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)) (collectively, the “Guaranteed Obligations”).

  • Guarantied Obligations To induce the Administrative Agent and the Lenders to make loans and grant other financial accommodations to the Borrowers under the Credit Agreement, each Guarantor hereby jointly and severally unconditionally, and irrevocably, guaranties to the Administrative Agent, each Lender and any provider of a Lender Provided Interest Rate Hedge or any provider of any Other Lender Provided Financial Service Product, and becomes surety, as though it was a primary obligor for, the full and punctual payment and performance when due (whether on demand, at stated maturity, by acceleration, or otherwise and including any amounts which would become due but for the operation of an automatic stay under the federal bankruptcy code of the United States or any similar Laws of any country or jurisdiction) of all Obligations, including, without limiting the generality of the foregoing, all obligations, liabilities, and indebtedness from time to time of any Borrower or any other Guarantor to the Administrative Agent or any of the Lenders or any Affiliate of any Lender under or in connection with the Credit Agreement or any other Loan Document, whether for principal, interest, fees, indemnities, expenses, or otherwise, and all renewals, extensions, refinancings or refundings thereof, whether such obligations, liabilities, or indebtedness are direct or indirect, secured or unsecured, joint or several, absolute or contingent, due or to become due, whether for payment or performance, now existing or hereafter arising (and including obligations, liabilities, and indebtedness arising or accruing after the commencement of any bankruptcy, insolvency, reorganization, or similar proceeding with respect to any Borrower or any Guarantor or which would have arisen or accrued but for the commencement of such proceeding, even if the claim for such obligation, liability, or indebtedness is not enforceable or allowable in such proceeding, and including all Obligations, liabilities, and Indebtedness arising from any extensions of credit under or in connection with any Loan Document from time to time, regardless of whether any such extensions of credit are in excess of the amount committed under or contemplated by the Loan Documents or are made in circumstances in which any condition to extension of credit is not satisfied) (all of the foregoing obligations, liabilities and indebtedness are referred to herein collectively as the "Guarantied Obligations" and each as a "Guarantied Obligation"). Without limitation of the foregoing, any of the Guarantied Obligations shall be and remain Guarantied Obligations entitled to the benefit of this Guaranty if the Administrative Agent or any of the Lenders (or any one or more assignees or transferees thereof) from time to time assign or otherwise transfer any portion of their respective rights and obligations under the Loan Documents, or any other Guarantied Obligations, to any other Person. In furtherance of the foregoing, each Guarantor jointly and severally agrees as follows.

  • Guarantor In the event that there is a guarantor of this Lease, said guarantor shall have the same obligations as Lessee under this Lease.

  • Guaranteed Payments To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 hereof, is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the Person’s capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s Capital Account shall be adjusted to reflect the payment of that compensation.

  • Guaranty Each Guarantor hereby absolutely and unconditionally, jointly and severally guarantees, as primary obligor and as a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all Secured Obligations (for each Guarantor, subject to the proviso in this sentence, its “Guaranteed Obligations”); provided that (a) the Guaranteed Obligations of a Guarantor shall exclude any Excluded Swap Obligations with respect to such Guarantor and (b) the liability of each Guarantor individually with respect to this Guaranty shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any applicable state law. Without limiting the generality of the foregoing, the Guaranteed Obligations shall include any such indebtedness, obligations, and liabilities, or portion thereof, which may be or hereafter become unenforceable or compromised or shall be an allowed or disallowed claim under any proceeding or case commenced by or against any debtor under any Debtor Relief Laws. The Administrative Agent’s books and records showing the amount of the Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon each Guarantor, and conclusive for the purpose of establishing the amount of the Secured Obligations. This Guaranty shall not be affected by the genuineness, validity, regularity or enforceability of the Secured Obligations or any instrument or agreement evidencing any Secured Obligations, or by the existence, validity, enforceability, perfection, non-perfection or extent of any collateral therefor, or by any fact or circumstance relating to the Secured Obligations which might otherwise constitute a defense to the obligations of the Guarantors, or any of them, under this Guaranty, and each Guarantor hereby irrevocably waives any defenses it may now have or hereafter acquire in any way relating to any or all of the foregoing.

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