Group contractholder definition

Group contractholder means the person to which a group contract has been issued.
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Group contractholder means the person to whom a group contract has been issued.
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Group contractholder. The entity with ownership rights under the Group Contract as shown on the Contract Data Page. Guaranteed Annual Withdrawal (XXX) – The annualized withdrawal amount that is guaranteed for the lifetime of the Covered Person(s), subject to the terms of this Certificate. Guaranteed Annual Withdrawal Percentage (XXX%) – The percentage of the Benefit Base that determines the amount of the XXX. This percentage is based on the age of the Covered Person(s) at the time of the first Installment determined by calculating the 10 Year Treasury Yield multiplied by the Age Adjustment, subject to the maximum and minimum percentages described in Section 5.01. If there are two Covered Persons the percentage is based on the age of the younger Covered Person and the Joint Withdrawal Adjustment, pursuant to Section 5.01. Guarantee Benefit Fee – The fee described in Section 8. Guaranteed Lifetime Withdrawal Benefit (GLWB) – A payment option offered by Certificate that pays Installments during the life of the Covered Person(s). The Covered Person(s) will receive periodic payments in either monthly, quarterly, semiannual, or annual Installments that in total over a twelve month period equal the XXX. Initial Calculation – The calculation used to determine the XXX% on the Initial Installment Date pursuant to Section 5.01. Initial Installment Date – The date of the first Installment under the GLWB, which must be a Business Day. Installments – Periodic payments of the XXX made pursuant to Section 5.03. Installment Frequency Options – The options listed in Section 5.03.
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Examples of Group contractholder in a sentence

  • However, we can, with the agreement of the Group Contractholder, make changes to the Group Contract and this Certificate without your consent.

  • Cessation Options On the Contribution Cessation Date, the Group Contractholder may elect a Cessation Option.

  • If the Group Contractholder Terminates the Contract If the Group Contractholder terminates the Group Contract, all benefits, rights, and privileges provided by the Group Contract, including without limitation, the GLWB shall terminate.

  • Great-West reserves the right to change the frequency of the deduction, but will notify the GLWB Elector and the Group Contractholder in writing at least thirty (30) calendar days prior to the change.

  • Prior to the Group Contract termination date, Great-West and Group Contractholder may agree to an alternate Group Contract termination date.

  • Great-West will notify the Group Contractholder whenever the Covered Fund(s) are changed.

  • No such modification will, without the written consent of the Group Contractholder, affect the terms, provisions, or conditions of the Certificate, which are or may be applicable to Certificate Contributions made prior to the date of such modification.

  • Subject to the provisions of Section 9.8, payments will only be made if then available to the Payee under the terms and provisions of the Plan and the Code sections governing the Plan as determined by the Group Contractholder.

  • An application, report, Request, election, direction, notice or demand by the Group Contractholder, any GLWB Elector, or other Covered Person(s), if applicable, will be made in a form satisfactory to Great-West.

  • GAWs before age 59 1⁄2 may result in certain tax penalties, and may not be permissible while the Certificate Owner is still actively employed by the Group Contractholder.

Related to Group contractholder

  • Contractholder means any entity that is a party to a Contract with a Participating Company (as defined below).

  • Group contract means a contract for health care services which by its terms limits eligibility to members of a specified group. The group contract may include coverage for dependents.

  • Group Company of a Company means

  • Seller’s Group means the Seller and any company which is, on or after the date of this Agreement, a subsidiary or holding company of the Seller or a subsidiary of a holding company of the Seller, and excludes, for the avoidance of doubt, any Group Company, and "Seller's Group Company" shall be construed accordingly.

  • Contract Holder means the person to whom the Benefit Plan is issued. Any other person approved for coverage with the Contract Holder under this plan is a dependent. Under Group coverage, the Contract Holder is the Member who is eligible for coverage because of his or her affiliation with a Group.

  • Group Member Agreement means the partnership agreement of any Group Member, other than the Partnership, that is a limited or general partnership, the limited liability company agreement of any Group Member that is a limited liability company, the certificate of incorporation and bylaws or similar organizational documents of any Group Member that is a corporation, the joint venture agreement or similar governing document of any Group Member that is a joint venture and the governing or organizational or similar documents of any other Group Member that is a Person other than a limited or general partnership, limited liability company, corporation or joint venture, as such may be amended, supplemented or restated from time to time.

  • Group Companies means the Company and its Subsidiaries.

  • Target Company means each of the Company and its direct and indirect Subsidiaries.

  • Company IP Contract means any Contract to which the Company is a party or by which the Company is bound, that contains any assignment or license of, or covenant not to assert or enforce, any Intellectual Property Right or that otherwise relates to any Company IP or any Intellectual Property developed by, with, or for the Company.

  • Purchaser’s Group means the Purchaser and its Affiliates from time to time;

  • Service contract holder or “contract holder” means a person who is the purchaser or holder of a service contract.

  • Buyer’s Group means the Buyer and any other company which is or becomes a subsidiary or holding company of the Buyer or a subsidiary of such holding company;

  • SAP Group Software means (i) any and all software products listed on the Price List as well as any SAP SDK which are provided by SAP or any other member of the SAP Group to Partner or to an End User (either directly or indirectly via Partner) under any part of this Agreement all as developed by or for the SAP Group; (ii) any new releases, updates or versions thereof made available through unrestricted shipment pursuant to Maintenance Services or warranty obligation by any member of the SAP Group; and (iii) any complete or partial copies of any of the foregoing.

  • Key Sub-Contractor means any Sub-Contractor: listed in Framework Schedule 7 (Key Sub-Contractors); which, in the opinion of the Authority and the Customer, performs (or would perform if appointed) a critical role in the provision of all or any part of the Services; and/or with a Sub-Contract with a contract value which at the time of appointment exceeds (or would exceed if appointed) 10% of the aggregate Call Off Contract Charges forecast to be payable under this Call Off Contract;

  • Sub-Contractor means the person named in the Contract for any part of the works or any person to whom any part of the contract has been sublet by the contractor with the consent in writing of the Engineer-in-charge and will include the legal representatives, successors and permitted assigns of such persons.

  • Contract employee means a probationary faculty employee or a grant- funded employee hired on a year-to-year basis in accordance with Education Code 87470.

  • Company Service Provider means a Company Employee, a Company Independent Contractor or a member of the Company Board.

  • Transferred Entities means the entities set forth on Schedule 1.9.

  • Transferring Former Supplier Employees in relation to a Former Supplier, those employees of the Former Supplier to whom the Employment Regulations will apply on the Relevant Transfer Date; and

  • Group Business Entity means;

  • Management Company Employee means an individual employed by a Person providing management services to the Company which are required for the ongoing successful operation of the business enterprise of the Company, but excluding a Person engaged in Investor Relations Activities;

  • Acquired Company means any business, corporation or other entity acquired by the Company or any Subsidiary.

  • The Sub-Contractor means any person, firm or company (other than the Contractor) to whom any part of the work has been entrusted by the Contractor with the written consent of the Engineer-In-Charge and the legal representative successors and permitted assignee of such person, firm or company.

  • Derivative Contract means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, repurchase transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement, including any such obligations or liabilities under any such master agreement.

  • Transferring Supplier Employees means those employees of the Supplier and/or the Supplier’s Sub-Contractors to whom the Employment Regulations will apply on the Service Transfer Date.

  • SAP Group means SAP Parent and any of its Associated Companies.