INTEREST TO BE CREDITED definition

INTEREST TO BE CREDITED. The Credited Interest Rate for the Guarantee Period(s) of the MVA Account is shown on the Certificate Schedule. After the initial Guarantee Period, the Credited Interest Rate for any subsequent Guarantee Period of the MVA Account may change. All interest payable under this Certificate is compounded daily at the stated effective annual interest rate. In no event will the Credited Interest Rate be less than the Minimum Guaranteed Interest Rate, prior to the application of the Market Value Adjustment, specified on the Contract Schedule. GUARANTEE PERIOD: The Current MVA Account Guarantee Period is shown on the Contract Schedule. During the thirty (30) days prior to the end of a current Guarantee Period, the Certificate Owner may renew for the same or any other Guarantee Period then available at the then Credited Interest Rate or may elect to transfer all or a portion of the amount to a Fixed Account option, if available, or to the Variable Account. Any transfer elected during the thirty (30) days prior to the end of a current Guarantee Period will be made as of the date the request is received by the Company and will not be subject to any Market Value Adjustment. If the Certificate Owner does not specify a Guarantee Period at the time of renewal, the Company will select and transfer to the same Guarantee Period as has just expired, so long as such Guarantee Period does not extend beyond the latest Annuity Date that can be selected by a Certificate Owner. If such Guarantee Period does extend beyond the latest Annuity Date, the Company will choose the one year period. If there is no Guarantee Period for the same period available, the one year period will be selected. If the one year period is no longer available, the next longest period available will be selected.
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INTEREST TO BE CREDITED. We guarantee that the interest to be credited to any fixed account will not be less than the minimum guaranteed interest rate shown on the contract data page or any supplemental data page. We may credit additional interest at our sole discretion to Fixed Account I. Declared interest will be guaranteed for one contract year. THE VARIABLE ACCOUNT
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INTEREST TO BE CREDITED. The Company guarantees that the interest to be credited to the Fixed Account will not be less than the Minimum Guaranteed Interest Rate shown on the Contract Schedule. The Company may credit additional interest, at its sole discretion, for any Fixed Account option. The Fixed Account option and the Initial Current Interest Rate are shown on the Contract Schedule. CONTRACT VALUE The Contract Value for any Valuation Period is the sum of the Contract Value in each of the Sub-Accounts of the Separate Account, the Contract Value in the IA Account and the Contract Value in the Fixed Account. The Contract Value in a Sub-Account of the Separate Account is determined by multiplying the number of Accumulation Units allocated to the Contract for the Sub-Account by the Accumulation Unit Value. Withdrawals will result in the cancellation of Accumulation Units in a Sub-Account or a reduction in the Fixed Account or the IA Account, as applicable. CONTRACT MAINTENANCE CHARGE
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Examples of INTEREST TO BE CREDITED in a sentence

  • INTEREST TO BE CREDITED The Company will credit interest to the Fixed Account Contract Value.

  • INTEREST TO BE CREDITED: The Credited Interest Rate for the Guarantee Period(s) of the MVA Account is shown on the Certificate Schedule.

  • INTEREST TO BE CREDITED: The Initial Current Interest Rate for the Initial Guarantee Period of the MVA Account is shown on the Certificate Schedule.

  • THE BOARD MAY MAKE RULES RELATING TO INSTALLMENT OR DEFERRED PAYMENTS WITH RESPECT TO AWARDS, INCLUDING THE RATE OF INTEREST TO BE CREDITED WITH RESPECT TO SUCH PAYMENTS.

  • INTEREST TO BE CREDITED : The Credited Interest Rate for the Guarantee Period(s) of the MVA Account is shown on the Certificate Schedule.

  • INTEREST TO BE CREDITED: The Initial Current Interest Rate for the Initial Guarantee Period of the MVA Account is shown on the Contract Schedule.

  • INTEREST TO BE CREDITED - The Company guarantees that the interest rate credited to the General Account Value will not be less than the minimum Guaranteed Interest Rate equal to: an effective rate of 3% per year.

  • ORD 112388-NY INTEREST TO BE CREDITED: A DCA Interest Segment is a portion of the DCA Option that is created when you allocate all or part of an Invested Purchase Payment to the DCA Option.

  • INTEREST TO BE CREDITED The Company guarantees that the interest to be credited to the Fixed Account will not be less than the Minimum Guaranteed Interest Rate shown on the Contract Schedule.

  • INTEREST TO BE CREDITED: A DCA Interest Segment is a portion of the DCA Option that is created when you allocate all or part of an Invested Purchase Payment to the DCA Option.


More Definitions of INTEREST TO BE CREDITED

INTEREST TO BE CREDITED. The Company guarantees that the interest rate credited to the General Account will not be less than the Minimum Guaranteed Interest Rate for the General Account shown on the Contract Schedule. The Company may credit additional interest at its sole discretion. SEPARATE ACCOUNT PROVISIONS
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INTEREST TO BE CREDITED. The Company guarantees that the interest to be credited to the Fixed Account will not be less than the amount specified in the Contract Schedule. The Company may credit additional interest at its sole discretion. Such additional interest shall be credited at a rate which is set in advance and effective for at least one year.
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INTEREST TO BE CREDITED. The initial Current Interest Rate for the initial Guarantee Period of the IA Account is shown on the Contract Schedule. After the initial Guarantee Period, the Current Interest Rate for any subsequent Guarantee Period of the IA Account may change. All interest payable under a Contract is compounded daily at the stated effective annual interest rate. In no event will the Current Interest Rate be less than the Minimum Guaranteed Interest Rate specified on the Contract Schedule.
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INTEREST TO BE CREDITED. The Initial Current Interest Rate for the Initial Guarantee Period of the MVA Account is shown on the Certificate Schedule. After the Initial Guarantee Period, the Current Interest Rate for any subsequent Guarantee Period of the MVA Account may change. All interest payable under a Certificate is compounded daily at the stated effective annual interest rate. In no event will the Current Interest Rate be less than the Minimum Guarantee Interest Rate, prior to the application of the Market Value Adjustment, specified on the Contract Schedule.
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INTEREST TO BE CREDITED. The Company guarantees that the interest to be credited to the Fixed Account will not be less than the Minimum Guaranteed Interest Rate shown on the Contract Schedule. The Company may credit additional interest, at its sole discretion, for any Fixed Account option. The Fixed Account Option and the Initial Current Interest Rate are shown on the Contract Schedule. CERTIFICATE HOLDER'S ACCOUNT VALUE The Certificate Holder's Account Value for any Valuation Period is the sum of the Certificate Holder's Account Value in each of the Sub-Accounts of the Separate Account, the Certificate Holder's Account Value in the MVA Account and the Certificate Holder's Account Value in the Fixed Account. The Certificate Holder's Account Value in a Sub-Account of the Separate Account is determined by multiplying the number of Accumulation Units allocated to the Certificate Holder's Account for the Sub-Account by the Accumulation unit Value. Withdrawals will result in the cancellation of Accumulation Units in a Sub-Account or a reduction in the Fixed Account or the MVA Account, as applicable. CERTIFICATE MAINTENANCE CHARGE DEDUCTION FOR CERTIFICATE MAINTENANCE CHARGE: During the Accumulation Period, on each Certificate Anniversary, the Company deducts a Certificate Maintenance Charge from the Certificate Holder's Account Value by reducing the Certificate Holder's Account Values in the Fixed Account and/or the MVA Account and by cancelling Accumulation Units from each applicable Sub-Account to reimburse it for expenses relating to maintenance of the Certificate. The Certificate Maintenance Charge will be deducted from the Fixed Account and/or the MVA Account and the Sub-Accounts in the Separate Account in the same proportion that the amount of Certificate Holder's Account Value in the Fixed Account and/or the MVA Account and each Sub-Account bears to the total Certificate Holder's Account Value. The Certificate Maintenance Charge is shown on the Contract Schedule. During the Accumulation Period, the Certificate Maintenance Charge will be deducted from the Certificate Holder's Account Value on each Certificate Anniversary while the Certificate is in force. If a total withdrawal is made on other than a Certificate Anniversary, the Certificate Maintenance Charge will be deducted at the time of withdrawal. TRANSFERS TRANSFERS PRIOR TO THE ANNUITY DATE: Subject to any limitation imposed by the Company on the number of transfers during the Accumulation Period shown on the Contract Sche...
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Related to INTEREST TO BE CREDITED

  • Interest Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

  • Component Security means with respect to an Index, each component security of that Index.

  • Maximum Uncertificated Accrued Interest Deferral Amount With respect to any Distribution Date, the excess of (i) accrued interest at the Uncertificated REMIC II Pass-Through Rate applicable to REMIC II Regular Interest ZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC II Regular Interest ZZ minus the REMIC II Overcollateralization Amount, in each case for such Distribution Date, over (ii) the aggregate amount of Uncertificated Accrued Interest for such Distribution Date on the REMIC II Regular Interests (other than REMIC II Regular Interests AA, ZZ and IO), with the rate on each such REMIC II Regular Interest (other than REMIC II Regular Interests B-1, B-2, B-3 and B-4) subject to a cap equal to the least of (x) the One-Month LIBOR Pass Through Rate for the Corresponding Certificate, (y) 11.00% per annum and (z) the Net WAC Cap Rate for the REMIC III Regular Interest the ownership of which is represented by the Corresponding Certificate for the purpose of this calculation for such Distribution Date, and with the rate on each of the REMIC II Regular Interests B-1, B-2, B-3 and B-4 subject to a cap equal to the lesser of (i) the per annum fixed rate specified in the definition of “Pass-Through Rate” for the Corresponding Certificate, and (ii) the related Net WAC Cap Rate for the REMIC III Regular Interest the ownership of which is represented by the Corresponding Certificate for the purpose of this calculation for such Distribution Date; provided, however, that solely for this purpose, the related cap with respect to each REMIC II Regular Interest (other than REMIC II Regular Interests AA, ZZ, B-1, B-2, B-3, B-4 and IO) shall be multiplied by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.

  • Interest Funds With respect to each Mortgage Group and any Payment Date, (a) the sum of, without duplication, (1) all interest collected (other than the interest portion of Payaheads and Prepayment Premiums) or advanced in respect of Scheduled Payments on the Mortgage Loans in such Mortgage Group during the related Due Period by the Servicer, the Subservicer, the Master Servicer or the Indenture Trustee (solely in its capacity as successor Master Servicer), minus, (x) to the extent provided under Sections 4.02(e)(3) and (4) and Sections 5.08(i) and (ii) herein, previously unreimbursed Advances and Nonrecoverable Advances due to the Servicer, the Subservicer, the Master Servicer or the Indenture Trustee (solely in its capacity as successor master servicer) to the extent allocable to interest and the allocable portion of previously unreimbursed Servicing Advances with respect to the Mortgage Loans in such Mortgage Group, (y) the Servicing Administration Fee and Master Servicing Fee with respect to such Mortgage Loans in such Mortgage Group and (z) any fees and expenses of any Custodian with respect to the Mortgage Loans in such Mortgage Group to the extent not paid by the Seller or its Affiliates, (2) any Compensating Interest Payments or payments in respect of Prepayment Interest Shortfalls paid by the Master Servicer pursuant to Section 5.21 with respect to the related Prepayment Period with respect to the Mortgage Loans in such Mortgage Group, (3) the portion of any Purchase Price or Substitution Amount paid with respect to the Mortgage Loans in such Mortgage Group during the related Prepayment Period allocable to interest, and (4) all Net Liquidation Proceeds, Insurance Proceeds and any other recoveries collected with respect to the Mortgage Loans in such Mortgage Group during the related Prepayment Period, to the extent allocable to interest, as reduced by (b) such Mortgage Group’s pro rata share of: (i) the Owner Trustee Fee, (ii) any costs, expenses or liabilities reimbursable or otherwise due to the Master Servicer, Servicer, the Subservicer, the Indenture Trustee, any Custodian, the Owner Trustee or the Trust Administrator to the extent provided in this Agreement, the Trust Agreement, the Indenture and any Custodial Agreement and (iii) any Net Swap Payment.

  • Damages Accrual Period has the meaning set forth in Section 2(e) hereof.

  • Class A Interest Percentage As to any Distribution Date and any Class of Class A Certificates, the percentage calculated by dividing the Interest Accrual Amount of such Class (determined without regard to clause (ii) of the definition thereof) by the Class A Interest Accrual Amount (determined without regard to clause (ii) of the definition of Interest Accrual Amount).

  • Class A Floating Percentage means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is equal to the Class A Adjusted Invested Amount as of the close of business on the last day of the preceding Monthly Period and the denominator of which is equal to the Adjusted Invested Amount as of such day; provided, however, that with respect to the first Monthly Period, the Class A Floating Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Class A Initial Invested Amount and the denominator of which is the Initial Invested Amount.

  • Class A Percentage means 100% minus the Class B Percentage.

  • Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

  • Class B Interest Percentage With respect to any Distribution Date and any Class of Class B Certificates, the percentage calculated by dividing the Interest Accrual Amount of such Class (determined without regard to clause (ii) of the definition thereof) by the Class B Interest Accrual Amount (determined without regard to clause (ii) of the definition of each Interest Accrual Amount).

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Maximum I-LTZZ Uncertificated Interest Deferral Amount With respect to any Distribution Date, the excess of (i) accrued interest at the REMIC I Remittance Rate applicable to REMIC I Regular Interest I-LTZZ for such Distribution Date on a balance equal to the Uncertificated Balance of REMIC I Regular Interest I-LTZZ minus the REMIC I Overcollateralized Amount, in each case for such Distribution Date, over (ii) Uncertificated Interest on REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTA4, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9 and REMIC I Regular Interest I-LTM10 for such Distribution Date, with the rate on each such REMIC I Regular Interest subject to a cap equal to the lesser of (i) One-Month LIBOR plus the related Margin for the related Corresponding Certificate and (ii) the Net WAC Pass-Through Rate for the related Corresponding Certificate; provided, however, each cap shall be multiplied by a fraction, the numerator of which is the actual number of days elapsed in the related Interest Accrual Period and the denominator of which is 30.

  • Interest Percentage With respect to any Class of Certificates and any Distribution Date, the ratio (expressed as a decimal carried to six places) of the Accrued Certificate Interest for such Class to the sum of the Accrued Certificate Interest for all Classes, in each case with respect to such Distribution Date, without regard to Relief Act Interest Shortfalls.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Class B Floating Percentage means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is equal to the Class B Adjusted Invested Amount as of the close of business on the last day of the preceding Monthly Period and the denominator of which is equal to the Adjusted Invested Amount as of the close of business on such day; provided, however, that with respect to the first Monthly Period, the Class B Floating Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Class B Initial Invested Amount and the denominator of which is the Initial Invested Amount.

  • Note Class Interest Distributable Amount With respect to any class of Notes and any Distribution Date, the product of (i) the outstanding principal balance of such class of Notes as of the close of the preceding Distribution Date (or, in the case of the first Distribution Date, the outstanding principal balance of such class of Notes on the Closing Date) and (ii) (a) in the case of the Notes, other than the Class A-1 Notes, one-twelfth of the Interest Rate for such class (or, in the case of the first Distribution Date, the Interest Rate for such class multiplied by a fraction, the numerator of which is 15 and the denominator of which is 360) and (b) in the case of the Class A-1 Notes, the product of the Interest Rate for such class of Notes for such Distribution Date and a fraction, the numerator of which is the number of days elapsed from and including the prior Distribution Date (or, in the case of the first Distribution Date, from and including the Closing Date), to but excluding that Distribution Date and the denominator of which is 360. Note Depository: The depository from time to time selected by the Indenture Trustee on behalf of the Issuing Entity in whose name the Notes are registered prior to the issue of Definitive Notes. The first Note Depository shall be Cede & Co., the nominee of the initial Clearing Agency.

  • Class A-X Notional Amount With respect to any Distribution Date, an amount equal to the aggregate Scheduled Principal Balance of the Non-Discount Mortgage Loans.

  • Aggregate Class C Interest Distributable Amount With respect to any Distribution Date, the sum of (i) the Note Class Interest Distributable Amount for the Class C Notes as of such Distribution Date and (ii) the Class C Interest Carryover Shortfall as of the close of the preceding Distribution Date.

  • Original Class A Percentage The Class A Percentage as of the Cut-Off Date, as set forth in Section 11.04.

  • Class Balance With respect to any Class of Certificates, at any time, the aggregate of the Certificate Balances of all Outstanding Certificates of such Class.

  • Class B-4 Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Percentage by (ii) a fraction, the numerator of which is the Class B-4 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-4 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-4 Percentage for such Distribution Date will be zero.

  • Class B-2 Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Percentage by (ii) a fraction, the numerator of which is the Class B-2 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-2 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-2 Percentage for such Distribution Date will be zero.

  • Class B-3 Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Percentage by (ii) a fraction, the numerator of which is the Class B-3 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-3 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-3 Percentage for such Distribution Date will be zero.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Class A Interest Accrual Amount As to any Distribution Date, the sum of the Interest Accrual Amounts for the Class A Certificates with respect to such Distribution Date.