Common use of Certificate Fee Clause in Contracts

Certificate Fee. (a) The Certificate Fee (the fee the Certificate Owner pays for the benefits We provide under the Contract and Certificate) will be calculated and due on the Certificate Date and thereafter at each Quarterversary. The Certificate Fee is calculated by multiplying A by B by C where: A = the value of the Covered Asset Pool as of the calculation date; B = the applicable Certificate Fee Percentage; and C = the number of days in the Certificate quarter divided by the number of days in the Certificate Year. (b) If We do not receive the Certificate Fee, We will notify the Certificate Owner of the deficiency at least twice before [45] days have elapsed. If fees due are not paid within [sixty (60)] days of the due date, then the Certificate will terminate and no benefits will be paid. (c) The greater the percentage of assets in the Certificate Owner’s Covered Asset Pool allocated to Eligible Assets outside of the Core Fixed category, the higher the Certificate Fee. We may adjust the Certificate Fee in the event of a Covered Asset Transfer if the Certificate Owner’s Investment Profile changes. This adjustment is described in section 6.2. In addition, if subsequent contributions are made to, or Excess Withdrawals are taken from, a Certificate Owner’s Covered Asset Pool during a Certificate quarter, then the Certificate Fee Adjustment will be added to the Certificate Fee to be collected on the next Quarterversary to reflect these transactions. (d) The maximum Certificate Fee Percentage is shown on the Contract Data Pages and the Certificate Data Pages. We may increase the Certificate Fee Percentage at any Certificate Anniversary in conjunction with an automatic step-up. (e) Certificate Fee for any Certificate will cease upon the occurrence of: — The Insured Event; — Termination of the Contract; or — Termination of the Certificate.

Certificate Fee. (a) The Certificate Fee (the fee the Certificate Owner pays for the benefits We provide under the Contract and Certificate) will be calculated and will be due on the Certificate Date and thereafter at on each Quarterversary. The Subject to Certificate Fee Adjustments, the Certificate Fee is calculated by multiplying A by B by C whereequal to: A x B x C, where: A = The then applicable annualized Certificate Fee Percentage (as shown in Tables 3a or 3b or on the value of the Covered Asset Pool as of the calculation dateCertificate Data Page); B = The Fee Basis on the applicable Certificate Fee PercentageCalculation Date (as shown in Table 4); and C = the The number of calendar days in the a Certificate quarter divided by the number of calendar days in the Certificate Year.. On the Certificate Date, the Certificate Fee will be calculated using the initial Certificate Fee Percentage as shown on the Certificate Data Page, unless the allocation of the Eligible Funds or Eligible Strategies on the Certificate Date would produce a higher Certificate Fee Percentage, as outlined below. If the Covered Asset Pool is allocated to Eligible Funds, the Certificate Fee Percentage applicable on each Calculation Date depends on: (a) The Fee Option selected as described in Section 6.2; and (b) The Investment Profile as described in Section 6.3. If the Covered Asset Pool is allocated to an Eligible Strategy, the Certificate Fee Percentage applicable on each Calculation Date depends on: (a) The Fee Option selected as describe in Section 6.2; and (b) The Eligible Strategy selected and shown in Table 3b. If the Covered Asset Pool is automatically reclassified to Eligible Funds due to a failure to comply with Eligible Strategy Composition Requirements, as described in Section 4.4, the Certificate Fee Percentage will be based on the allocation among Eligible Funds. The maximum Certificate Fee Percentages are shown in Tables 3a and 3b. We may increase the Certificate Fee Percentage, not to exceed the maximum, in conjunction with an Automatic Step-Up. Certificate Fee Percentages will be reduced by [0.05%] for Net Certificate Contributions of [$500,000] and above. These fee reductions will be applied on a prospective basis and for so long as Net Certificate Contributions exceed this threshold. The Certificate Fee pays for, among other things, the insurance protections provided by the Certificate. We expect to make a profit based on the Certificate Fee. If We do not receive the Certificate FeeFee as of the due date, We will notify the Certificate Owner of the deficiency at least twice before [forty five (45)] days have elapsed. If fees due are the required Certificate Fee is not paid within [sixty (60)] days of the due date, then the Certificate will terminate and no benefits will be paid. (c) The greater the percentage of assets in the Certificate Owner’s Covered Asset Pool allocated to Eligible Assets outside of the Core Fixed category, the higher the Certificate Fee. We may adjust the Certificate Fee in the event of a Covered Asset Transfer if the Certificate Owner’s Investment Profile changes. This adjustment is described in section 6.2. In addition, if subsequent contributions are made to, or Excess Withdrawals are taken from, a Certificate Owner’s Covered Asset Pool during a Certificate quarter, then the Certificate Fee Adjustment will be added to the Certificate Fee to be collected on the next Quarterversary to reflect these transactions. (d) The maximum Certificate Fee Percentage is shown on the Contract Data Pages and the Certificate Data Pages. We may increase the Certificate Fee Percentage at any Certificate Anniversary in conjunction with an automatic step-up. (e) Certificate Fee for any Certificate will cease upon the occurrence of: — The Insured Event; — Termination of the Contract; or — Termination of the Certificate.