AUTOMATIC WITHDRAWAL SERVICE Clause Samples

The Automatic Withdrawal Service clause authorizes a party, typically a service provider or creditor, to automatically deduct payments from a customer's designated bank account on a recurring basis. This arrangement usually applies to regular payments such as monthly subscriptions, loan repayments, or utility bills, and may require the customer to provide account details and consent to the withdrawals. The core function of this clause is to streamline the payment process, reduce the risk of missed or late payments, and ensure timely fulfillment of financial obligations.
AUTOMATIC WITHDRAWAL SERVICE. The Automatic Withdrawal Service provides for an automatic periodic withdrawal of Contract Value. This service may be elected at any time prior to the Annuity Commencement Date. The Automatic Withdrawal Service program may be cancelled or changed by the Owner at any time by Request to Us at Our Servicing Office. PORTFOLIO REBALANCING. Portfolio Rebalancing is an option that restores to a predetermined level the percentage of Contract Value allocated to each Variable Subaccount. The rebalancing may take place monthly, quarterly, semi-annually, or annually. The Portfolio Rebalancing program is available prior to the Annuity Commencement Date. The predetermined level will be the allocation initially selected when this Contract was purchased, unless subsequently changed. The allocation may be changed at any time by Request to Us at Our Servicing Office. If the Portfolio Rebalancing program is selected, all Purchase Payments approved and added to this Contract by the Purchase Payments Acceptance Deadline allocated to the Variable Subaccounts must be subject to rebalancing. Once the Portfolio Rebalancing program is activated, any Variable Subaccount transfer executed outside of the Portfolio Rebalancing program will terminate the program. Any subsequent Purchase Payment approved and added to this Contract by the Purchase Payments Acceptance Deadline or withdrawal that modifies the account balance within each Variable Subaccount may also cause termination of the Portfolio Rebalancing program. Any such termination will be confirmed to the Owner. The Owner may terminate the Portfolio Rebalancing program, or re-enroll, at any time by Request to Us at Our Servicing Office.
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AUTOMATIC WITHDRAWAL SERVICE. The Automatic Withdrawal Service (AWS) provides for an automatic periodic withdrawal of Contract Value. This service may be elected at any time prior to the Annuity Commencement Date. The AWS program may be cancelled or changed by the Owner at any time by sending a written request to the Servicing Office.
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Related to AUTOMATIC WITHDRAWAL SERVICE

  • Early Withdrawal Penalty Unless provided otherwise in the Disclosures, we will assess an early withdrawal penalty on any withdrawal, either partial or in whole, that we allow you to make from your account prior to the account's maturity date. The method for determining that penalty is described in the Disclosures.

  • Voluntary Withdrawal If any Partner should withdraw from the Partnership, they must give at least days’ written notice to the Partnership. Such withdrawal shall have no effect on the day-to-day operations of the Partnership.

  • Withdrawal Conditions; Withdrawal Period 1. Notwithstanding the provisions of Part A of this Section, no withdrawal shall be made for payments made prior to the date of this Agreement. 2. The Closing Date is June 30, 2013.

  • Withdrawal Events In the event of the death, retirement, withdrawal, expulsion, or dissolution of a Member, or an event of bankruptcy or insolvency, as hereinafter defined, with respect to a Member, or the occurrence of any other event which terminates the continued membership of a Member in the Company pursuant to the Statutes (each of the foregoing being hereinafter referred to as a “Withdrawal Event”), the Company shall terminate sixty days after notice to the Members of such withdrawal Event unless the business of the Company is continued as hereinafter provided. Notwithstanding a Withdrawal Event with respect to a Member, the Company shall not terminate, irrespective of applicable law, if within aforesaid sixty day period the remaining Members, by the unanimous vote or consent of the Members (other than the Member who caused the Withdrawal Event), shall elect to continue the business of the Company. In the event of a Withdrawal Event with respect to an Member, any successor in interest to such Member (including without limitation any executor, administrator, heir, committee, guardian, or other representative or successor) shall not become entitled to any rights or interests of such Member in the Company, other than the allocations and distributions to which such Member is entitled, unless such successor in interest is admitted as a Member in accordance with this Agreement. An “event of bankruptcy or insolvency” with respect to a Member shall occur if such Member:

  • Withdrawal of Resignation An Employee who has terminated their employment through resignation, may withdraw their resignation within three (3) days of the time it was submitted to the Employer.