PERSISTENCY CREDIT definition

PERSISTENCY CREDIT. The amount of the Persistency Credit is calculated by multiplying the Contract Value, less any Purchase Payments that have not been invested in this Contract for a minimum of 7 years, by the quarterly Persistency Credit percentage of 0.075%. The amount of any Persistency Credit will never be less than zero. TRANSFER REQUIREMENTS PRIOR TO THE ANNUITY COMMENCEMENT DATE: Transfers cannot be made during the first 30 days. LNY reserves the right to require a 30 day minimum time period between each transfer. Maximum Number of Transfers: 12 per Contract Year, excluding automatic DCA transfers. There will be no fee imposed for these twelve (12) transfers. Transfers in excess of 12 per Contract Year must be authorized by LNY. LNY reserves the right to impose a fee for any transfer in excess of 12 per Contract Year. This fee will not exceed $25. Variable Account:
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PERSISTENCY CREDIT. The additional amount credited to this Contract by LNL beginning three months after the 14/th/ anniversary of the Contract Date and each subsequent three-month period thereafter. Persistency Credits are not considered Purchase Payments. The following provision shall be added to ARTICLE 2:
Sample 1
PERSISTENCY CREDIT. The amount of the Persistency Credit is calculated by multiplying the Contract Value, less any Purchase Payments that have not been invested in this Contract for a minimum of 14 years, by the quarterly Persistency Credit percentage of 0.05%. The amount of any Persistency Credit will never be less than zero. TRANSFER REQUIREMENTS PRIOR TO THE ANNUITY COMMENCEMENT DATE:
Sample 1

Examples of PERSISTENCY CREDIT in a sentence

  • PERSISTENCY CREDIT If applicable, any Persistency Credit provision in the Contract is replaced by the Persistency Credit shown on the Contract Benefit Data page(s).

  • PERSISTENCY CREDIT: The amount of the Persistency Credit is calculated by multiplying the Contract Value, less any Purchase Payments that have not been invested in this Contract for a minimum of 7 years, by the quarterly Persistency Credit percentage of 0.075%.

  • PERSISTENCY CREDIT: The amount of the Persistency Credit is calculated by multiplying the Contract Value, less any Purchase Payments that have not been invested in this Contract for a minimum of 7 years, by the quarterly Persistency Credit percentage of 0.0875%.

  • BONUS CREDIT: The Bonus Credit associated with each Purchase Payment to this Contract will be [3.0%] PERSISTENCY CREDIT: The amount of the Persistency Credit is calculated by multiplying the Contract Value, less any Purchase Payments that have not been invested in this Contract for a minimum of [7] years, by the quarterly Persistency Credit percentage of [0.1125%.] TRANSFER REQUIREMENTS PRIOR TO THE ANNUITY COMMENCEMENT DATE Transfers cannot be made during the first [30] days.

  • PERSISTENCY CREDIT A PersistencyCredit, if one is determined to be payable according to the calculation shown on the Contract Specifications, is paid into this Contract beginning three months after the 7th anniversary of the Contract Date and at the end of each subsequent three-month period thereafter.

  • BONUS CREDIT: The Bonus Credit associated with each Purchase Payment to this Contract will be [8.0%] PERSISTENCY CREDIT: The amount of the Persistency Credit is calculated by multiplying the Contract Value, less any Purchase Payments that have not been invested in this Contract for a minimum of [7] years, by the quarterly Persistency Credit percentage of [0.1125%.] TRANSFER REQUIREMENTS PRIOR TO THE ANNUITY COMMENCEMENT DATE: Transfers cannot be made during the first [30] days.

  • PERSISTENCY CREDIT: The amount of the Persistency Credit is calculated by multiplying the Contract Value, less any Purchase Payments that have not been invested in this Contract for a minimum of [4] years, by the quarterly Persistency Credit percentage of [0.1125%.] TRANSFER REQUIREMENTS PRIOR TO THE ANNUITY COMMENCEMENT DATE Transfers cannot be made during the first [30] days.

  • PERSISTENCY CREDIT: The amount of the Persistency Credit is calculated by multiplying the Contract Value, less any Purchase Payments that have not been invested in this Contract for a minimum of 4 years, by the quarterly Persistency Credit percentage of 0.1125%.

  • Lincoln Life & Annuity Company of New York /s/ Xxxxxx Xxxxx ------------------------ Xxxxxx Xxxxx, President PERSISTENCY CREDIT RIDER ("THIS RIDER") PERSISTENCY CREDIT RIDER FOR VARIABLE ANNUITY This Rider is part of the Contract to whichit is attached and is effective upon issue.

  • PERSISTENCY CREDIT: The amount of the Persistency Credit is calculated by multiplying the Contract Value, less any Purchase Payments that have not been invested in this Contract for a minimum of 14 years, by the quarterly Persistency Credit percentage of 0.05%.

Related to PERSISTENCY CREDIT

  • Service Level Credit is defined in Section 8.

  • Service Credit means the periods of time for which the required contributions have been made to

  • Emission Reduction Credits or “ERC(s)” means emission reductions that have been authorized by a local air pollution control district pursuant to California Division 26 Air Resources; Health and Safety Code Sections 40709 and 40709.5, whereby such district has established a system by which all reductions in the emission of air contaminants that are to be used to offset certain future increases in the emission of air contaminants shall be banked prior to use to offset future increases in emissions.

  • Senior Specified Enhancement Percentage As of any date of determination, 38.00%.

  • Network Termination Point (NTP) means the physical point at which a subscriber is provided with access to a public communications network; in the case of networks involving switching or routing, the NTP is identified by means of a specific network address, which may be linked to a subscriber number or name;

  • Service Level Failure means a failure to perform the Software Support Services fully in compliance with the Support Service Level Requirements.

  • Persistent Failure means any two (2) or more failures by the Supplier in any rolling period of twelve (12) months to comply with obligations in respect of the Contract Services under the Contract;

  • Network Availability means the capability of the equipment to resume functions after a remotely initiated trigger has been detected by a network port;

  • Service Availability The total number of minutes in a calendar quarter that the Tyler Software is capable of receiving, processing, and responding to requests, excluding maintenance windows, Client Error Incidents and Force Majeure.

  • Credit Enhancement Percentage For any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the sum of the aggregate Certificate Principal Balances of the Mezzanine Certificates and the Class CE Certificates, and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans, calculated after taking into account distributions of principal on the Mortgage Loans and distribution of the Principal Distribution Amount to the Certificates then entitled to distributions of principal on such Distribution Date.