Optional Payment Plans Sample Clauses

Optional Payment Plans. 17 Copies of any application, riders and endorsements follow page 21. DEFINITIONS ________________________________________________________________________________ ACCUMULATION UNIT - Unit of measure used in calculating the Contract Value in the Separate Account prior to the Annuity Commencement Date. ANNUITANT / JOINT ANNUITANT - The person(s) named on the Contract data pages whose age and, where appropriate, gender are used in determining the amount of the monthly income benefits. ANNUITY COMMENCEMENT DATE - The date stated on the Contract data pages, unless changed after issue, on which Income Payments are scheduled to commence, if the Annuitant(s) is living on that date. ANNUITY COMMENCEMENT VALUE - The Surrender Value on the day immediately preceding the Annuity Commencement Date. ANNUITY UNIT - Unit of measure used in determining the amount of the second and each subsequent Variable Income Payment. ASSUMED INTEREST RATE - Interest rate used in calculating the Variable Income Payment amounts. THE COMPANY - GE Life and Annuity Assurance Company. "We", "us" or "our" refers to the Company. CONTRACT - This Contract with any attached application and any riders and endorsements. CONTRACT DATE - Date the Contract is issued and becomes effective. The Contract Date is shown on the Contract data pages and is used to determine Contract years and anniversaries. CONTRACT VALUE - The sum of the values allocated to each Investment Option.
Sample 1See All (4)
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Optional Payment Plans. .. 22 A copy of the application and any riders and endorsements follow page 24.
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Optional Payment Plans. 21 Copies of any riders and endorsements follow page 24. DEFINITIONS -------------------------------------------------------------------------------- Accumulation Unit - A unit of measure used in calculating the Contract Value in each Subaccount prior to the Annuity Commencement Date. Annuitant / Joint Annuitant - The person(s) whose age and, where appropriate, gender are used in determining the amount of Income Payments. A Death Benefit is payable on the death of any Annuitant prior to the Annuity Commencement Date. Annuity Commencement Date - The date stated on the Contract Data Pages, unless changed after issue, on which Income Payments are scheduled to begin, if the Annuitant(s) is living on that date. Annuity Commencement Value - The Contract Value on the day immediately preceding the Annuity Commencement Date. Annuity Unit - A unit of measure used to calculate Variable Income Payments.
Sample 1
Optional Payment Plans. 13 Copies of any riders and endorsements follow page 16.
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Optional Payment Plans. We will make payments that do not depend on the sex of the annuitant. New monthly payment rates for the Life Income plan or the Joint Life and Survivor Income plan are contained in this endorsement.
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Optional Payment Plans. X A copy of the application and any riders and endorsements follow page xx.
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Optional Payment Plans. .. 22 A copy of the application and any riders and endorsements follow page 24. DEFINITIONS ACCOUNT VALUE - The total amount under the Policy in each Investment Subdivision and our General Account. AGE - An Insured's age on his or her birthday nearest the Policy Date or a policy anniversary.
Sample 1
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Optional Payment Plans. 17 Copies of any application, riders and endorsements follow page 20.
Sample 1
Optional Payment Plans. Optional Payments Death proceeds or Surrender Value may be paid in one payment. Subject to the rules stated below, any part of the death proceeds or Surrender Value (other than Xxxxxxx Commencement Value) can be left with us and paid under an Optional Payment Plan. If you choose to do so, the proceeds less any premium tax will be applied to calculate the Income Payment. Upon your death, if you have not chosen a plan for the payment of the death proceeds, the designated beneficiary may choose a plan. The following Optional Payment Plan rules apply: . Our consent must be obtained if any Payee is not a natural person. . Death proceeds must conform to the rules in the Death Provisions section. . If you change a Beneficiary, your plan selection will no longer be in effect unless you request that it continue. . We must receive written notice in our Home Office of any choice or change of plan. . The amount of each payment must be at least $100. . Fixed Income Payments will begin on the Annuity Commencement Date or on a date selected by the designated beneficiary. . Variable Income Payments will begin within seven days after the date payments would begin under the corresponding fixed option. Fixed Income Options Optional Payment Plans 1 and 2 are available as fixed income options. Any amount left with us under a fixed income option will be transferred to our General Account. Payments made will equal or exceed those required by the state where this Contract is delivered. Optional Payment Plans 1 and 2 are available as variable income options. This means that Income Payments after the first will reflect the investment experience of the Subaccounts. No minimum amount is guaranteed.
Sample 1

Related to Optional Payment Plans

  • Optional Payments The Borrowers may from time to time and at any time upon at least one (1) Business Day’s prior written notice repay or prepay, without penalty or premium all or any part of outstanding Floating Rate Advances in an aggregate minimum amount of One Million Dollars ($1,000,000) and in integral multiples of One Million Dollars ($1,000,000) in excess thereof. Eurodollar Rate Advances may be voluntarily repaid or prepaid prior to the last day of the applicable Interest Period, subject to the indemnification provisions contained in Section 4.4, in an aggregate minimum amount of Four Million and 00/100 Dollars ($4,000,000) and in integral multiples of One Million and 00/100 Dollars ($1,000,000) in excess thereof; provided, that the applicable Borrower may not so prepay Eurodollar Rate Advances unless it shall have provided at least three (3) Business Days’ prior written notice to the Administrative Agent of such prepayment and provided, further, all Eurodollar Loans constituting part of the same Eurodollar Rate Advance shall be repaid or prepaid at the same time.

  • Additional Payments Any sums expended by Agent or any Lender due to any Borrower’s failure to perform or comply with its obligations under this Agreement or any Other Document including any Borrower’s obligations under Sections 4.2, 4.4, 4.12, 4.13, 4.14 and 6.1 hereof, may be charged to Borrowers’ Account as a Revolving Advance and added to the Obligations.

  • Additional Payment (a) If, notwithstanding the provisions of Section 8(a)(ii), but subject to subsection (b), it is ultimately determined by a court or pursuant to a final determination by the Internal Revenue Service that any portion of Total Payments is subject to the tax (the "Excise Tax") imposed by Section 4999 of the Code (or any successor provision), then the Company shall pay to the Executive an additional amount (the "Gross-Up Payment") such that the net amount retained by the Executive after deduction of any Excise Tax and any interest charges or penalties in respect of the imposition of such Excise Tax (but not any federal, state or local income tax) on the Total Payments, and any federal, state and local income tax and Excise Tax upon the payment provided for by this Section 23 shall be equal to the Total Payments. For purposes of determining the amount of the Gross-Up Payment, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation in the calendar year in which the Gross-Up Payment is to be made and state and local income taxes at the highest marginal rates of taxation in the state and locality of the Executive's domicile for income tax purposes on the date the Gross-Up Payment is made, net of the maximum reduction in federal income taxes that could be obtained from deduction of such state and local taxes.

  • ANNUITY PAYMENT OPTIONS a. Life Annuity / Life Annuity with Certain Period -- Fixed and/or Variable Annuity Payments will be made for the lifetime of the Annuitant with no Certain Period, or life and a 10 year Certain Period, or life and a 20 year Certain Period.

  • General Payment Terms The Base Rent, Additional Rent and all other sums payable by Tenant to Landlord hereunder are referred to as the "Rent". All Rent shall be paid without deduction, offset or abatement in lawful money of the United States of America. Rent for any partial month during the Term shall be prorated for the portion thereof falling due within the Term.

  • TIME OF PAYMENT OF ACCRUED BENEFIT Unless, pursuant to Section 6.03, the Participant or the Beneficiary elects in writing to a different time or method of payment, the Advisory Committee will direct the Trustee to commence distribution of a Participant's Nonforfeitable Accrued Benefit in accordance with this Section 6.01. A Participant must consent, in writing, to any distribution required under this Section 6.01 if the present value of the Participant's Nonforfeitable Accrued Benefit, at the time of the distribution to the Participant, exceeds $3,500 and the Participant has not attained the later of Normal Retirement Age or age 62. Furthermore, the Participant's spouse also must consent, in writing, to any distribution, for which Section 6.04 requires the spouse's consent. For all purposes of this Article VI, the term "annuity starting date" means the first day of the first period for which the Plan pays an amount as an annuity or in any other form. A distribution date under this Article VI, unless otherwise specified within the Plan, is the date or dates the Employer specifies in the Adoption Agreement, or as soon as administratively practicable following that distribution date. For purposes of the consent requirements under this Article VI, if the present value of the Participant's Nonforfeitable Accrued Benefit, at the time of any distribution, exceeds $3,500, the Advisory Committee must treat that present value as exceeding $3,500 for purposes of all subsequent Plan distributions to the Participant.

  • Certain Additional Payments In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent, the L/C Issuer or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share of all Loans and participations in Letters of Credit and Swing Line Loans in accordance with its Applicable Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable Law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.

  • INSTRUCTIONS FOR COMPLETING REPAYMENT ELECTION FORM AND EXERCISING REPAYMENT OPTION Capitalized terms used and not defined herein have the meanings defined in the accompanying Repayment Election Form.

  • Origination; Payment Terms The Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, except with respect to a Mortgage Loan purchased from a correspondent as indicated on the Mortgage Loan Schedule. Principal payments on the Mortgage Loan commenced no more than seventy days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, in the case of an Adjustable Rate Mortgage Loan, the Lifetime Rate Cap and the Periodic Cap are as set forth on the related Mortgage Loan Schedule. Unless specified on the related Mortgage Loan Schedule as an interest-only loan or a Balloon Mortgage Loan, the Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization (or forty years for Mortgage Loans identified on the Mortgage Loan Schedule as a Balloon Mortgage Loan with a forty year amortization period). Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month and the Mortgage Loan does not require a balloon payment on its stated maturity date;

  • Payment Options The exercise price shall be paid by one or any combination of the following forms of payment that are applicable to this option, as indicated on the cover page hereof:

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