GUARANTEED WITHDRAWAL Sample Clauses

GUARANTEED WITHDRAWAL. For each Year, any amount(s) taken as a Withdrawal after the Guaranteed Withdrawal Lock-In Date pursuant to this Rider that:
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GUARANTEED WITHDRAWAL. BENEFIT NO-LAPSE GUARANTEE - The Company agrees that the policy to which this agreement is attached will remain in force up to the Guaranteed Withdrawal Benefit No-Lapse Date shown in the Policy Specifications if the following conditions are satisfied:
Sample 1
GUARANTEED WITHDRAWAL. STATUS ---------------------------- On the Rider Date, this Rider is placed in Guaranteed Withdrawal Status. Thereafter, while this status is maintained, this Rider does not modify your rights under the Contract and no Rider benefits are provided. This status will be maintained while all of the following conditions exist: 1) The MGWB Base and the Accumulation Value are both greater than zero; 2) The latest Annuity Commencement Date under the Contract has not been reached; 3) The Contract has not been surrendered or otherwise terminated; and 4) The Rider has not been cancelled or otherwise terminated. If the MGWB Base is reduced to zero while the Rider is in Guaranteed Withdrawal Status, this Rider will terminate and no Rider benefits will be payable.
Sample 1
GUARANTEED WITHDRAWAL. STATUS On the Rider Date, this Rider is placed in Guaranteed Withdrawal Status. This status will be maintained while all of the following conditions exist: 1. The Contract’s Accumulation Value is greater than zero; 2. The Annuity Commencement Date under the Contract has not been reached; 3. The Contract has not been surrendered or otherwise terminated; and 4. The Annuitant is living. Maximum Annual Withdrawal The initial MAW is set equal to (a) multiplied by the greater of (b) or (c) as of the last day of the Growth Phase where: a) equals the applicable MAW Percentage based on the Annuitant’s Age as shown in the Contract Schedule; b) equals the Contract Accumulation Value; and c) equals the Minimum Guaranteed Withdrawal Benefit (“MGWB”) Base Thereafter, the MAW will be recalculated at the time of each excess withdrawal or MGWB Reset as described in the “Partial Withdrawals” and “MGWB Reset Option” provisions, below. MGWB Base The MGWB Base is calculated only during the Growth Phase for the purpose of determining the initial MAW. Thereafter, the MGWB Base has no value. If this Rider is effective as of the Contract Date, the initial MGWB Base is the initial premium plus any Credits, if applicable. If this Rider is added to the Contract after the Contract Date, the initial MGWB Base is equal to the Contract’s Accumulation Value on the Rider Date. Thereafter, the MGWB Base is calculated during the Growth Phase as follows: 1. On any Ratchet Date, the MGWB Base equals the greater of: A. The MGWB Base on the previous Ratchet Date plus premiums paid and any Credits applied since the last Ratchet Date; or B. The current Contract Accumulation Value. 2. On any other date, the MGWB Base equals: A. The MGWB Base on the previous Ratchet Date; plus B. Premiums paid and Credits applied since the last Ratchet Date. For the purpose of MGWB Base calculations on and prior to the first Ratchet Date following the Rider Date only, the Rider Date shall be deemed to be the previous Ratchet Date. Ratchet Dates are defined in the Contract Schedule. Withdrawals requested by the Contract Owner for the sole purpose of the payment of advisory fees to a separate named investment advisor, for advice provided on the selection and ongoing management of the funds underlying the Contract will not cause the Growth Phase to end and the Withdrawal Phase to begin. During the Growth Phase these withdrawals reduce the MGWB Base on a pro-rata basis. During the Withdrawal Phase these withdrawals are ...
Sample 1

Related to GUARANTEED WITHDRAWAL

  • Demand Withdrawal A Holder may withdraw its Registrable Securities from a Demand Registration at any time prior to the effective time of the Registration Statement covering the applicable Demand Registration by giving written notice of such withdraw prior to the effective time of such Registration Statement. If all Holders withdraw their Registrable Securities from a Demand Registration, the Company shall cease all efforts to secure registration. The Company shall not withdraw a Registration Statement relating to a Demand Registration without the written consent of the Initiating Holders, unless required to do so by law, regulation or upon the request of the SEC.

  • Interest and Withdrawal No interest shall be paid by the Partnership on Capital Contributions. No Partner shall be entitled to the withdrawal or return of its Capital Contribution, except to the extent, if any, that distributions made pursuant to this Agreement or upon termination of the Partnership may be considered as such by law and then only to the extent provided for in this Agreement. Except to the extent expressly provided in this Agreement, no Partner shall have priority over any other Partner either as to the return of Capital Contributions or as to profits, losses or distributions. Any such return shall be a compromise to which all Partners agree within the meaning of Section 17-502(b) of the Delaware Act.

  • Permitted Withdrawals From Custodial Account The Servicer shall, from time to time, withdraw funds from the Custodial Account for the following purposes:

  • No Withdrawal No Person shall be entitled to withdraw any part of such Person’s Capital Contribution or Capital Account or to receive any Distribution from the Company, except as expressly provided in this Agreement.

  • Permitted Withdrawals From Escrow Account Withdrawals from the Escrow Account or Accounts may be made by the Servicer only:

  • Withdrawal Any holder of Registrable Securities may elect to withdraw such holder’s request for inclusion of Registrable Securities in any Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior to the effectiveness of the Registration Statement. The Company (whether on its own determination or as the result of a withdrawal by persons making a demand pursuant to written contractual obligations) may withdraw a Registration Statement at any time prior to the effectiveness of such Registration Statement. Notwithstanding any such withdrawal, the Company shall pay all expenses incurred by the holders of Registrable Securities in connection with such Piggy-Back Registration as provided in Section 3.3.

  • Voluntary Withdrawal No Member shall have the right or power to Voluntarily Withdraw from the Company and any Member who shall voluntarily withdraw shall be in intentional breach of this Agreement. No Member who shall Voluntarily Withdraw shall be entitled to receive, in liquidation of his Interest, pursuant to Section 25-10 of the Act or otherwise, the fair value of the Member’s Interest on the date of Voluntary Withdrawal.

  • Distribution Upon Withdrawal No withdrawing Member shall be entitled to receive any distribution or the value of such Member’s Interest in the Company as a result of withdrawal from the Company prior to the liquidation of the Company, except as specifically provided in this Agreement.

  • Rescission and Withdrawal Right Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of) any of the other Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction Document and the Company does not timely perform its related obligations within the periods therein provided, then such Purchaser may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or election in whole or in part without prejudice to its future actions and rights.

  • Required Withholding Each of the Exchange Agent, Parent, and the Surviving Corporation shall be entitled to deduct and withhold from any consideration payable or otherwise deliverable pursuant to this Agreement to any holder or former holder of Company Common Stock such amounts as may be required to be deducted or withheld therefrom under the Code or under any provision of state, local or foreign tax law or under any other applicable legal requirement. To the extent such amounts are so deducted or withheld, such amounts shall be treated for all purposes under this Agreement as having been paid to the person to whom such amounts would otherwise have been paid.

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