ALLOCATION OF PURCHASE PAYMENTS INTO THE FIXED ACCOUNT Clause Samples

The "Allocation of Purchase Payments into the Fixed Account" clause defines how funds paid by the purchaser are directed into a specific investment option known as the fixed account. Typically, this clause outlines the process by which purchase payments are credited, the timing of such allocations, and any restrictions or minimum amounts required for allocation. For example, it may specify that all or a portion of each payment is placed into the fixed account, where it earns a guaranteed interest rate. The core practical function of this clause is to ensure transparency and predictability in how purchase payments are managed, providing the purchaser with clarity and security regarding the treatment of their invested funds.
ALLOCATION OF PURCHASE PAYMENTS INTO THE FIXED ACCOUNT. Any Purchase Payment to this Contract may be allocated to the Fixed Account of the Contract. Purchase Payments allocated to the Fixed Account of the Contract will be credited to the Fixed Subaccounts(s) made available by LNY and selected by the Owner. The Owner may allocate Purchase Payments to any of the available Fixed Subaccounts subject to the following limitations: a. The minimum amount that may be allocated to any Fixed Subaccount is shown on the Contract Specifications. b. If the Owner elects to allocate any Purchase Payment to a Fixed Subaccount and the Fixed Subaccount was not previously selected, the Owner must first provide LNY with Notice of allocation. Any Purchase Payment allocated to a Fixed Subaccount will be invested at the Guaranteed Interest Rate in effect for the respective Guaranteed Period on the day the allocation is credited to the Fixed Subaccount.
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ALLOCATION OF PURCHASE PAYMENTS INTO THE FIXED ACCOUNT. Any Purchase Payment to this Contract may be allocated to the Fixed Account for the Contract. Purchase Payments allocated to the Fixed Account of the Contract will be credited to the Fixed Sub-accounts(s) made available by LNL and selected by the Owner. The Owner may allocate Purchase Payments to any of the available Fixed Sub- accounts subject to the following limitations: a. The minimum amount of a Purchase Payment which may be allocated to any one Fixed Sub-account is $2000. b. If the Owner elects to allocate any Purchase Payment to the Fixed Sub- account not previously selected, that election must be made in writing to LNL or through voice or electronic instructions, provided LNL has received the appropriate authorization from the Owner for voice or electronic instructions in accordance with LNL procedures. Any Purchase Payment allocated to a Fixed Sub-account will be invested at the Guaranteed Interest Rate in effect for the respective Guaranteed Period on the day the allocation is credited to the Fixed Sub-account.
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ALLOCATION OF PURCHASE PAYMENTS INTO THE FIXED ACCOUNT. Any Purchase Payment paid into this Contract may be allocated to the Fixed Account of the Contract. The Owner may allocate Purchase Payments to the Fixed Account subject to the following limitations: a. The minimum amount that may be allocated to the Fixed Account is shown on the Contract Specifications. b. If the Owner elects to allocate any Purchase Payment to the Fixed Account and the Fixed Account was not previously selected, the Owner must first provide LNY with Notice of allocation.
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ALLOCATION OF PURCHASE PAYMENTS INTO THE FIXED ACCOUNT. Any Purchase Payment to this Contract may be allocated to the Fixed Account of the Contract. Purchase Payments allocated to the Fixed Account of the Contract will be credited to the Fixed Subaccounts. The Owner may allocate Purchase Payments to the Fixed Subaccount subject to the following limitations: a. The minimum amount that may be allocated to the Fixed Subaccount is shown on the Contract Specifications. b. If the Owner elects to allocate any Purchase Payment to a Fixed Subaccount and the Fixed Subaccount was not previously selected, the Owner must first provide LNY with Notice of allocation. Any Purchase Payment allocated to a Fixed Subaccount will be invested at the Guaranteed Interest Rate in effect for the respective one-year Guaranteed Period on the day the allocation is credited to the Fixed Subaccount.
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ALLOCATION OF PURCHASE PAYMENTS INTO THE FIXED ACCOUNT. Any Purchase Payment to this Contract may be allocated to the Fixed Account for the Contract. Purchase Payments allocated to the Fixed Account of the Contract will be credited to the Fixed Sub-account(s) made available by LNY and selected by the Owner. The Owner may allocate Purchase Payments to any of the available Fixed Sub- accounts subject to the following limitations: a. The minimum amount of a Purchase Payment which may be allocated to any one Fixed Sub-account is $2000. b. If the Owner elects to allocate any Purchase Payment to a new Fixed Sub- account not previously selected, that election must be made to LNY in writing. Any Purchase Payment allocated to a Fixed Sub-account will be invested at the Guaranteed Interest Rate in effect for the respective Guaranteed Period on the day the allocation is credited to the Fixed Sub-account.
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ALLOCATION OF PURCHASE PAYMENTS INTO THE FIXED ACCOUNT. Any Purchase Payment paid into this Contract may be allocated to the Fixed Account of the Contract. The Owner may allocate Purchase Payments to the Fixed Account subject to the following limitations: a. The minimum amount which may be allocated to the Fixed Account is $300. b. If the Owner elects to allocate any Purchase Payment to the Fixed Account and the Fixed Account was not previously selected, that election must be made in writing to LNL or through voice or electronic instructions, provided LNL has received the appropriate authorization from the Owner for voice or electronic instructions in accordance with LNL procedures.
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ALLOCATION OF PURCHASE PAYMENTS INTO THE FIXED ACCOUNT. Any Purchase Payment paid into this Contract may be allocated to the Fixed Account of the Contract. The Owner may allocate Purchase Payments to the Fixed Account subject to the following limitations:
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Related to ALLOCATION OF PURCHASE PAYMENTS INTO THE FIXED ACCOUNT

  • Allocation of Purchase Price (a) No later than sixty (60) calendar days after the final determination of the Adjusted Payment Amount in accordance with the procedures set forth in Section 3.3, Purchaser shall prepare and deliver to Seller a draft of a statement (the “Draft Allocation Statement”) setting forth the allocation of the total consideration paid by Purchaser to Seller pursuant to this Agreement among the Assets for purposes of Section 1060 of the Code. If, within thirty (30) calendar days of the receipt of the Draft Allocation Statement, Seller shall not have objected in writing to such draft, the Draft Allocation Statement shall become the Final Allocation Statement, as defined below. If Seller objects to the Draft Allocation Statement in writing within such thirty (30) calendar-day period, Purchaser and Seller shall negotiate in good faith to resolve any disputed items. If, within ninety (90) calendar days after the final determination of the Adjusted Payment Amount in accordance with the procedures set forth in Section 3.3, Purchaser and Seller fail to agree on such allocation, any disputed aspects of such allocation shall be resolved by a nationally recognized independent accounting firm mutually acceptable to Purchaser and Seller. The allocation of the total consideration, as agreed upon by Purchaser and Seller (as a result of either Seller’s failure to object to the Draft Allocation Statement or of good faith negotiations between Purchaser and Seller) or determined by an accounting firm under this Section 3.9(a) (the “Final Allocation Statement”), shall be final and binding upon the parties. Each of Purchaser and Seller shall bear all fees and costs incurred by it in connection with the determination of the allocation of the total consideration, except that the parties shall each pay one-half (50%) of the fees and expenses of such accounting firm. (b) Purchaser and Seller shall report the transaction contemplated by this Agreement (including income Tax reporting requirements imposed pursuant to Section 1060 of the Code) in accordance with the allocation specified in the Final Allocation Statement. Each of Purchaser and Seller agrees to timely file, or cause to be timely filed, IRS Form 8594 (or any comparable form under state or local Tax law) and any required attachment thereto in accordance with the Final Allocation Statement. Except as otherwise required pursuant to a “determination” under Section 1313 of the Code (or any comparable provision of state or local law), neither Purchaser nor Seller shall take, or shall permit its Affiliates to take, a Tax position which is inconsistent with the Final Allocation Statement. In the event any party hereto receives notice of an audit in respect of the allocation of the consideration paid for the Assets, such party shall immediately notify the other party in writing as to the date and subject of such audit. Any adjustment to the Purchase Price pursuant to Section 3.3 shall be allocated among the Assets by reference to the item or items to which such adjustment is attributable.

  • Calculation of Purchase Price The bank’s ownership interest in a security will be quantified one of two ways: (i) number of shares or other units, as applicable (in the case of equity securities) or (ii) par value or notational amount, as applicable (in the case of non-equity securities). As a result, the purchase price (except where determined pursuant to clause (ii) of the preceding paragraph) shall be calculated one of two ways, depending on whether or not the security is an equity security: (i) the purchase price for an equity security shall be calculated by multiplying the number of shares or other units by the applicable market price per unit; and (ii) the purchase price for a non-equity security shall be an amount equal to the applicable market price (expressed as a decimal), multiplied by the par value for such security (based on the payment factor most recently widely available). The purchase price also shall include accrued interest as calculated below (see Calculation of Accrued Interest), except to the extent the parties may otherwise expressly agree, pursuant to clause (ii) of the preceding paragraph. If the factor used to determine the par value of any security for purposes of calculating the purchase price, is not for the period in which the Bank Closing Date occurs, then the purchase price for that security shall be subject to adjustment post-closing based on a “cancel and correct” procedure. Under this procedure, after such current factor becomes publicly available, the Receiver will recalculate the purchase price utilizing the current factor and related interest rate, and will notify the Assuming Institution of any difference and of the applicable amount due from one party to the other. Such amount will then be paid as part of the settlement process pursuant to Article VIII.

  • Determination of Purchase Price The Securities Administrator will be responsible for determining the Purchase Price for any Mortgage Loan that is sold by the Trust or with respect to which provision is made for the escrow of funds pursuant to this Section 2.03 and shall at the time of any purchase or escrow certify such amounts to the Depositor; provided that the Securities Administrator may consult with the Servicer to determine the Purchase Price unless the Servicer is the Purchaser of such Mortgage Loan. If, for whatever reason, the Securities Administrator shall determine that there is a miscalculation of the amount to be paid to the Trust, the Securities Administrator shall from monies in a Distribution Account return any overpayment that the Trust received as a result of such miscalculation to the applicable Purchaser upon the discovery of such overpayment, and the Securities Administrator shall collect from the applicable Purchaser for deposit to the Securities Account any underpayment that resulted from such miscalculation upon the discovery of such underpayment. Recovery may be made either directly or by set-off of all or any part of such underpayment against amounts owed by the Trust to such Purchaser.

  • Purchase Price; Allocation of Purchase Price (a) The purchase price for the Purchased Assets and the Shares (the “Purchase Price”) is $3,000,000,000 (three billion dollars) in cash. The Purchase Price shall be paid as provided in Section 2.09 and shall be subject to adjustment as provided in Sections 2.09 and 2.11. Seller shall be treated as receiving a portion of the Purchase Price as agent for its Affiliates actually selling the Purchased Assets and the Shares consistent with the allocation of the Purchase Price pursuant to the Allocation Statement. (b) As soon as practicable after the Closing, Buyer shall deliver to Seller a statement (the “Allocation Statement”), allocating the Purchase Price (plus Assumed Liabilities, to the extent properly taken into account under Section 1060 of the Code) among the Purchased Assets and the Shares in accordance with Section 1060 of the Code and the principles and methodology set forth and illustrated in Section 2.08 of the Disclosure Schedule (the “Allocation Methodology”); provided that the parties may agree to amend or adjust such methodology to the extent that the parties mutually determine necessary to properly reflect the fair market value of the Purchased Assets and the Shares. If within 10 days after the delivery of the Allocation Statement Seller notifies Buyer in writing that Seller objects to the allocation set forth in the Allocation Statement because it is inconsistent with the Allocation Methodology, Buyer and Seller shall use their best efforts to revise the allocation specified in the Allocation Statement to the mutual satisfaction of Buyer and Seller within 20 days. In the event that Buyer and Seller are unable to resolve such dispute within 20 days, Buyer and Seller shall jointly retain Deloitte & Touche LLP (the “Accounting Referee”) to resolve the disputed items and the Accounting Referee shall determine an allocation that is most consistent with the Allocation Methodology. Upon resolution of the disputed items, the allocation reflected on the Allocation Statement shall be adjusted to reflect such resolution. The costs, fees and expenses of such Accounting Referee shall be borne equally by Buyer and Seller. If any Taxing Authority or other Governmental Authority requires a third party appraisal of all or part of the Purchased Assets or the Shares, Buyer shall bear the responsibility for obtaining such appraisal and the allocation set forth on the Allocation Statement shall be adjusted to the extent necessary to reflect the results of such appraisal. (c) Seller and Buyer agree to (i) be bound by the Allocation Statement (as it may be adjusted as provided in Section 2.08(b)) and (ii) act in accordance with the allocation established pursuant to Section 2.08(b) in the preparation, filing and audit of any Tax return (including filing Form 8594 with its federal income Tax return for the taxable year that includes the date of the Closing). (d) If an adjustment is made with respect to the Purchase Price pursuant to Section 2.11, the Allocation Statement shall be adjusted by mutual agreement of the parties in accordance with Section 1060 of the Code and the Allocation Methodology. In the event that an agreement is not reached within 20 days after the determination of Final Working Capital, any disputed items shall be resolved in the manner described in Section 2.08(b). Buyer and Seller agree to file any additional information return required to be filed pursuant to Section 1060 of the Code and to treat the Allocation Statement as adjusted in the manner described in Section 2.08(b). (e) Not later than 30 days prior to the filing of their respective Forms 8594 relating to this transaction, each party shall deliver to the other party a copy of its Form 8594.

  • Allocation of Charges There will not be any agreement or understanding between the Servicer and the Borrower (other than as expressly set forth herein or as consented to by the Administrative Agent), providing for the allocation or sharing of obligations to make payments or otherwise in respect of any Taxes, fees, assessments or other governmental charges; provided that it is understood and acknowledged that the Borrower will be consolidated with or treated as a disregarded entity of the Servicer for tax purposes.