SYSTEMATIC WITHDRAWAL definition

SYSTEMATIC WITHDRAWAL. SET-UP CHARGE: Thirty dollars ($30.00). If the total Account balance is twenty-five thousand dollars ($25,000), or greater, such amount will be waived.
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SYSTEMATIC WITHDRAWAL. PROGRAM Prior to the Annuity Date, You may elect to participate in the Systematic Withdrawal Program by informing Us at Our Annuity Service Center. The Systematic Withdrawal Program allows You to make automatic withdrawals from Your account monthly, quarterly, semiannually or annually. The minimum systematic withdrawal amount is $100. Any amount withdrawn through the Systematic Withdrawal Program may be subject to a Withdrawal Charge and/or a Market Value Adjustment as discussed in the WITHDRAWAL CHARGE, PENALTY-FREE WITHDRAWALS and MARKET VALUE ADJUSTMENT provisions. You may terminate Your participation in the Systematic Withdrawal Program at any time by sending Us a written request. We reserve the right to modify, suspend or terminate the Systematic Withdrawal Program at any time. Systematic withdrawals will be deducted from the Penalty-Free Withdrawal amount available each Contract Year.
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SYSTEMATIC WITHDRAWAL. PROGRAM Prior to the Annuity Date, You may elect to participate in a Systematic Withdrawal Program by informing Us at Our Annuity Service Center. The Systematic Withdrawal Program allows You to FS-975 (7/04) 11 make automatic withdrawals from Your Contract Value monthly, quarterly, semiannually or annually. The minimum systematic withdrawal amount is [$100]. Any amount withdrawn through the Systematic Withdrawal Program may be subject to a Withdrawal Charge as discussed in the WITHDRAWAL CHARGE and PENALTY-FREE WITHDRAWALS provisions. You may terminate Your participation in the Systematic Withdrawal Program at any time by sending Us a written request to Our Annuity Service Center. We reserve the right to modify, suspend or terminate the Systematic Withdrawal Program at any time. Systematic withdrawals will be deducted first from the Penalty-Free Withdrawal amount available each Contract Year.
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Examples of SYSTEMATIC WITHDRAWAL in a sentence

  • SYSTEMATIC WITHDRAWAL PROGRAMContingent upon notification to the principal underwriter or the Fund’s transfer agent, no CDSC will be imposed on redemptions that are qualifying redemptions of Class B Shares under a Systematic Withdrawal Program as described in the applicable prospectus and statement of additional information.

  • SYSTEMATIC WITHDRAWAL PROGRAM Contingent upon notification to the principal underwriter or the Fund's transfer agent, no CDSC will be imposed on redemptions that are qualifying redemptions of Class B Shares under a Systematic Withdrawal Program as described in the applicable prospectus and statement of additional information.

  • SYSTEMATIC WITHDRAWAL PROGRAM Prior to the Annuity Date, You may elect to participate in the Systematic Withdrawal Program by informing Us at Our Annuity Service Center.

  • SYSTEMATIC WITHDRAWAL AMOUNT The Systematic Withdrawal Amount is the amount withdrawn during the Contract Year under a Company-sponsored optional systematic withdrawal program, if any, where total withdrawals under the Company-sponsored systematic withdrawal program in the Contract Year do not exceed an amount equal to the Annual Benefit Payment.

  • SYSTEMATIC WITHDRAWAL PROGRAM Contingent upon notification to the principal underwriter or the Fund’s transfer agent, no CDSC will be imposed on redemptions that are qualifying redemptions of Class B Shares under a Systematic Withdrawal Program as described in the applicable prospectus and statement of additional information.

  • BY SYSTEMATIC WITHDRAWAL PLAN ("SWP"): You can authorize to have funds electronically drawn each month from your Ivy Fund account and deposited directly into your bank account through EFT.

  • SYSTEMATIC WITHDRAWAL PROGRAM After the first Policy Year, you may be able to participate in a Systematic Withdrawal Program in lieu of the 10% free withdrawal option.

  • SPECIAL -- SYSTEMATIC WITHDRAWAL: Check the box at left and include a completed FEATURES "Systematic Withdrawal Application" [form R-5550-SW].

  • SYSTEMATIC WITHDRAWAL PROGRAM You may elect the Systematic Withdrawal Program at any time.

  • SYSTEMATIC WITHDRAWAL PROGRAM Prior to the Annuity Date, You may elect to participate in a Systematic Withdrawal Program by informing Us at Our Annuity Service Center.


More Definitions of SYSTEMATIC WITHDRAWAL

SYSTEMATIC WITHDRAWAL. The systematic withdrawal program allows you to choose to receive systematic payments monthly, quarterly, semi-annually, or annually. You can instruct us to withdraw a percentage of the value of your contract or a specific dollar amount. All systematic withdrawals will be withdrawn from the Fixed Account and the Sub-accounts on a pro-rata basis, unless instructed otherwise. The systematic withdrawal program will end any time you designate by Formal Request to us. Withdrawals may be subject to a contingent deferred sales charge. We reserve the right to terminate, suspend, or modify this program. PROCEEDS PAYABLE AT DEATH PROVISIONS DEATH OF OWNER DURING ACCUMULATION PERIOD: Upon the death of the Owner, or any Joint Owner, during the Accumulation Period, the death benefit will be paid to the Beneficiary(ies) designated by the Owner(s). Upon the death of a Joint Owner, the surviving Owner will be treated as the primary Beneficiary. Any other Beneficiary designation on record at the time of death will be treated as a contingent Beneficiary. The death benefit must be paid under one of the death benefit options below. However, if the Beneficiary is the spouse of the Owner, he or she may elect to continue the contract, at the then current Contract Value, in his or her own name and exercise all the ownership rights under the contract.
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SYSTEMATIC WITHDRAWAL. Program"; and 3. "XXX Income Program". DEMAND WITHDRAWAL OPTION After the Free Look Period and prior to the Annuity Date, you may make a Demand Withdrawal. The minimum Demand Withdrawal amount is $100. The maximum Demand Withdrawal amount is the Cash Surrender Value minus $500. If the amount of Demand Withdrawal you specify exceeds the maximum, the amount of the withdrawal will automatically be lowered to the maximum. Demand Withdrawals are deemed to be withdrawn in the following order:
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SYSTEMATIC WITHDRAWAL. PROGRAM On or before the Annuity Date, You may elect to participate in a Systematic Withdrawal Program by informing Us at Our Annuity Service Center. The Systematic Withdrawal Program allows You to make automatic withdrawals from Your account monthly, quarterly, semiannually or annually. The minimum systematic withdrawal amount is $100, provided the Contract Value amount remaining after withdrawal is $500. You may terminate Your participation in the Systematic Withdrawal Program at any time by sending Us a written request. We reserve the right to modify, suspend or terminate the Systematic Withdrawal Program at any time.
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SYSTEMATIC WITHDRAWAL. [Is Available] Option (SWO): The Specified Payment may not be greater than [20%] of the Individual Account's Current Value at the time of election. The Specified Period may not be less than [five years]. The Specified Percentage may not be greater than [20%].
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SYSTEMATIC WITHDRAWAL from an account where that shareholder participates in a systematic withdrawal plan; and/or - Redemption of Shares from an account with a checkwriting privilege.
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SYSTEMATIC WITHDRAWAL. PROGRAM: You may have automatic withdrawals of a specified dollar amount made periodically. We will make these withdrawals from the subaccounts in the same proportion as the value of each subaccount bears to the Contract Value. These systematic withdrawals are in addition to the withdrawals permitted annually under the Contract. The minimum amount of each withdrawal and the remaining Contract Value after a withdrawal is shown in the Contract Schedule. The Systematic Withdrawal Program cannot extend beyond the Annuity Date.
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Related to SYSTEMATIC WITHDRAWAL

  • Cash Withdrawal means a disbursement of funds in any currency from any Account out of the balance in your favour (whether or not in the form of cash) made or obtained through or in connection with any Citibank ATM/ Debit Card.

  • Voluntary Withdrawal means a Member’s dissociation with the Company by means other than by a Transfer or an Involuntary Withdrawal.

  • Market Withdrawal means a Person’s Removal or Correction of a distributed product which involves a minor violation that would not be subject to legal action by the FDA or which involves no violation, e.g., normal stock rotation practices, routine equipment adjustments and repairs, etc.

  • Involuntary Withdrawal means, with respect to any Member, the occurrence of any of the following events:

  • Final Withdrawal Has the meaning specified in the Escrow Agreement.

  • Free Withdrawal Amount ’ means an amount equal to the percentage, stated in the Data Pages, of the Annuity Account Value, minus the total of all prior withdrawals (and associated Withdrawal Charges) made as described in Section 5.01 in the current Contract Year that may be withdrawn each Contract Year without incurring a Withdrawal Charge. We have the right to change the Free Withdrawal Amount, but it will always be a percentage between 5% and 30% if so provided in the Data Pages.

  • Excess Withdrawal is a withdrawal of Account Value that exceeds the Free Withdrawal Amount. This term may not apply to your Contract.

  • Withdrawal Event means the earliest to occur of any event which causes a Partner to cease to be a Partner, and to become a Former Partner, as set forth in Section 1.29.

  • Event of Withdrawal has the meaning assigned to such term in Section 11.1(a).

  • EU withdrawal agreement means the withdrawal agreement within the meaning of the European Union (Withdrawal Agreement) Act 2020 (see section 39(1) and (6) of that Act).”,

  • Event of withdrawal of a general partner means an event that causes a person to cease to be a general partner as provided in section 402.

  • Final Withdrawal Date Has the meaning specified in the Escrow Agreement.

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • Withdrawal means any measure aimed at preventing a product in the supply chain from being made available on the market;

  • Withdrawal Period as defined in Section 10.13(b).

  • Hardship Distribution means a severe financial hardship to the Participant resulting from a sudden and unexpected illness or accident of the Participant or of his or her dependent (as defined in Section 152(a) of the Code), loss of a Participant’s property due to casualty, or other similar or extraordinary and unforseeable circumstances arising as a result of events beyond the control of the Participant. The circumstances that would constitute an unforseeable emergency will depend upon the facts of each case, but, in any case, a Hardship Distribution may not be made to the extent that such hardship is or may be relieved (i) through reimbursement or compensation by insurance or otherwise, (ii) by liquidation of the Participant’s assets, to the extent the liquidation of assets would not itself cause severe financial hardship, or (iii) by cessation of deferrals under this Plan.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Withdrawal Date Any day during the period commencing on the 18th day of the month of the related Distribution Date (or if such day is not a Business Day, the immediately preceding Business Day) and ending on the last Business Day prior to the 21st day of the month of such Distribution Date. The “related Due Date” for any Withdrawal Date is the Due Date immediately preceding the related Distribution Date.