Income Payment definition

Income Payment. The series of periodic annuity payments that are paid to the Payee. Income Payments may be variable and fixed, variable only, or fixed only based upon the investment options selected by the Owner.
Income Payment. “means a payment required to be made under paragraph 7(a) by the Buyer to the Seller.
Income Payment means a payment made to the member or to a dependant, nominee or successor, under a drawdown plan by selling units and/or by making payments from the bank account under that Plan.

Examples of Income Payment in a sentence

  • Participation in XXXX and Credit Arrearage Programs:Participation in the Percentage of Income Payment Program (“XXXX”) administered by your utility may affect your eligibility to take service from a competitive retail electric service provider.

  • During the Lifetime Income Period, if a Periodic Income Payment as determined above is less than the Guaranteed Income Benefit, the excess of the Guaranteed Income Benefit over the Periodic Income Payment will reduce the number of Annuity Units per Variable Subaccount payable in each subsequent Periodic Income Payment.

  • Each subsequent Periodic Income Payment during the Lifetime Income Period, if any, will be equal to the Guaranteed Income Benefit.

  • At the end of the Access Period, any remaining Account Value will be applied to continue the Periodic Income Payment for the Lifetime Income Period.

  • Each Withdrawal made subsequent to the anniversary on which the highest Periodic Income Payment is determined will reduce the Guaranteed Income Benefit in the same proportion as the amount withdrawn reduces the Account Value on the Valuation Date of the Withdrawal.

  • Minimum Annuity Income Payment The minimum monthly annuity income payment that we will make is [$20].

  • A transfer of a Periodic Income Payment from the Fixed Account to a Periodic Income Payment from the Variable Account is not permitted after the Access Period.

  • In accordance with paragraph 146.1(2)(i.2) of the Tax Act, the Plan will not accept a transfer from a registered education savings plan after the registered education savings plan has made an Accumulated Income Payment.

  • Customers in the Percentage of Income Payment Plan, with certain arrearages, served by a competitive supplier or other customers determined not eligible for service under the Program by the Public Utilities Commission of Ohio (“PUCO”) or Utility rules are not eligible.

  • If payment of the Guaranteed Income Benefit reduces the number of Annuity Units per payment to zero during the Lifetime Income Period, then each subsequent Periodic Income Payment during the remainder of the Lifetime Income Period, if any, will be equal to the Guaranteed Income Benefit.


More Definitions of Income Payment

Income Payment means the result of (A) times (B), where (A) is Income Before Taxes MINUS actual interest payments made by Borrower to Lender on the $2,750,000 Senior Subordinated Note of even date herewith, and (B) is forty percent (40%) prior to a Change in Control; and, if a Change in Control has occurred, then (B) shall mean a percentage equal to the long term tax-exempt rate as defined in Section 382(f) of the Code.
Income Payment means the sum of the variable annuity payment and the fixed dollar annuity payment; (d) "General Account" means all assets of the Company other than those in the Separate Account or any other separate accounts of the Company. Reserves for any fixed dollar benefits shall be maintained in the General Account; (e) "Separate Account" means those assets of the Company in a segregated investment account entitled "Franklin Life Variable Annuity Fund C" established by the Company pursuant to Illinois law; (f) "Valuation Date" means the date as of which the Separate Account Net Investment Rate is determined. This value is determined on each day that the New York Stock Exchange is open, as of the close of trading on that day; (g) "Valuation Period" means the period, commencing on a Valuation Date and ending on the next Valuation Date; (h) "Separate Account Annuity Unit" means a unit used to determine the amount of each variable annuity payment; (See provision 4 dealing with Separate Account Annuity Unit values.) (i) "Written request" means a written request satisfactory to the Company, filed at its Home Office in Springfield, Illinois.
Income Payment shall have the meaning ascribed to it in SECTION 1.04.
Income Payment means the sum of the variable annuity payment and the fixed dollar annuity payment; (d) "General Account" means all assets of the Company other than those in a Separate Account. Reserves for any fixed dollar benefits shall be maintained in the General Account; (e) "Separate Account" means those assets of the Company in a segregated investment account entitled "Franklin Life Variable Annuity Fund A" established by the Company pursuant to Illinois law; (f) "Valuation Date" means the date as of which the Separate Account Net Investment Rate is determined; (g) "Valuation Period" means the period, as determined by the Company, of not more than 7 calendar days beginning on the day after any Valuation Date and ending on the next Valuation Date; (h) "Separate Account Annuity Unit" means a unit used to determine the amount of each variable annuity payment. (See provision 4 dealing with Separate Account Annuity Unit values.) (i) "Written Request" means a written request satisfactory to the Company, filed at its Home Office in Springfield, Illinois.

Related to Income Payment

  • PRE-PAYMENT The Tenant shall: (check one) ☐ - Pre-Pay Rent in the amount of $ for the term starting on and ending on . The Pre-Payment of Rent shall be due upon the execution of this Agreement. ☐ - Not be required to Pre-Pay Rent.

  • Incentive Payment means the payment to a STGU, including an AOBC Generation Unit, for RPS class I Renewable Generation Attributes and/or Environmental Attributes produced by these units, calculated pursuant to Section 7.0 below.

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Service Payment has the meaning given to it in clause 9.1;

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Lump Sum Payment means, collectively, the lump-sum payments that may be payable to Executive pursuant to the first sentence of Subsection 6(b)(iii) and pursuant to Subsection 6(c)(ii)(B).

  • Installment Payment has the meaning ascribed to it in Section 2.02(a).

  • Termination Payment has the meaning set forth in Section 6.03.

  • Installment Payments shall have the meaning set forth in Section 5(b)(ii).

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • Annual Payment The total amount payable to the Settlement Fund Administrator by the Settling Distributors on the Payment Date each year, as calculated by the Settlement Fund Administrator pursuant to Section IV.B.1.e. For the avoidance of doubt, this term does not include the Additional Restitution Amount or amounts paid pursuant to Section X.

  • Down payment means all partial payments, whether made in cash or otherwise, received by or for the benefit of the seller before or substantially contemporaneous with either the execution of the installment sale contract or the delivery of the motor vehicle sold under that contract, whichever occurs later.

  • Distribution Payment Date has the meaning set forth in paragraph 2(b) of Annex I.

  • Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

  • Payment Due Date means the date by which the Date of Payment must occur, in accordance with the provisions of Sections 504.3 through 504.5 of this Exhibit, in order for NYSERDA not to be liable for interest pursuant to Section 504.6.

  • Payment Amount as defined in Section 3.5.

  • Upfront Payment has the meaning set forth in Section 4.1.

  • Estimated Swap Termination Payment means, with respect to an Early Termination Date, an amount determined by Party A in good faith and in a commercially reasonable manner as the maximum payment that could be owed by Party B to Party A in respect of such Early Termination Date pursuant to Section 6(e) of the ISDA Master Agreement, taking into account then current market conditions.

  • Installment Payment Date means the date on which an installment payment of an assessment is payable.

  • a guaranteed income payment means a payment made under article 15(1)(c) (injury benefits) or 29(1)(a) (death benefits) of the Armed Forces and Reserve Forces (Compensation Scheme) Order 2011;

  • Lease Payment means any form of payment, including a land lease, by a public entity to the private entity for the use of a qualifying project.

  • Co-payment means a relatively small amount of money paid by the insured person towards the cost of each day in a private hospital per episode of care, with Latrobe paying the rest of the cost.

  • Termination Payment Date means the earlier of the first Distribution Date following the liquidation or sale of the Receivables as a result of an Insolvency Event and the occurrence of the Scheduled Series 1995-1 Termination Date.

  • Service payments means payments to the private entity of a qualifying project pursuant to a service contract.

  • Lease Payment Date means, with respect to any Interest Payment Date, the 5th Business Day immediately preceding such Interest Payment Date.