CHANGE OF PORTFOLIO Sample Clauses

The Change of Portfolio clause allows for the transfer or substitution of assets within a specified investment portfolio. In practice, this clause outlines the conditions under which assets can be replaced, added, or removed, and may specify the process for notifying relevant parties or obtaining necessary approvals. Its core function is to provide flexibility in managing the portfolio, ensuring that it can be adjusted in response to market conditions or investment objectives while maintaining transparency and control over changes.
CHANGE OF PORTFOLIO. We may determine that a portfolio has become unsuitable for investment by a subaccount or shares of a portfolio may cease to be available for investment. In such event, we may substitute another portfolio of the investment company or invest in a different investment company. This change would not be made unless approved by: 1) The SEC; and 2) If required, the insurance supervisory officials in the state where this contract is delivered.
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CHANGE OF PORTFOLIO. We may determine that a portfolio has become unsuitable for investment by a subaccount or shares of a portfolio may cease to be available for investment. In such event, we may substitute another portfolio of the investment company or invest in a different investment company. This change would not be made unless approved by: 1) The SEC; and 2) If required, the insurance supervisory officials in the state where this contract is delivered. ---------------------------------------------------------------------------- 8. SETTLEMENT PROVISIONS ---------------------------------------------------------------------------- 8.1 PAYMENT OF PROCEEDS. Proceeds from death or surrender are payable in a lump sum unless otherwise provided. On Death Proceeds, we will pay interest at the rate payable in Option 1 - Interest Income or, if greater, the rate required by law. Interest is payable from the date the amount of Death Proceeds is calculated (see Section 2.3) until the date of settlement. Instead of a lump sum, proceeds of $2,000 or more may be paid under any settlement option in Section 8.2 by means of a supplementary contract which we will issue.
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Related to CHANGE OF PORTFOLIO

  • CHANGE OF T-PIN The Account Holder may change his T-PIN from time to time in accordance with the Bank’s prescribed procedure then prevailing. The Bank shall be entitled, in its reasonable discretion but without liability and without giving any reason, to reject any selection made by the Account Holder as his substituted T-PIN; if the Bank so approves, such substituted T-PIN, shall take effect from the time of receipt by the Bank of such instructions from the Account Holder. The Account Holder shall take all steps not to select such numbers as a substitute T-PIN which may easily be ascertained or otherwise facilitate fraud or forgery.

  • Change of Control of the Academy Trust 102A) The Secretary of State may at any time by notice in writing, subject to clause 102C) below, terminate this Agreement forthwith (or on such other date as he may in his absolute discretion determine) in the event that there is a change:

  • Change of Vehicle 7.1 We reserve the right to substitute a comparable or superior Vehicle at no extra cost where unforeseen circumstances dictate. This shall not constitute a breach of contract and does not entitle the renter to any refund. 7.2 Should the renter decide to downgrade their Vehicle from that originally booked they will not be entitled to any refund.

  • Upon a Change of Control Upon a Change of Control (as defined in Section 6 hereof) the following shall occur: (i) at the time of the consummation of such Change of Control, 25% of any then unvested stock options held by you at such time that were granted on or prior to the Amendment Date shall vest as of the date of the consummation of such Change of Control (notwithstanding any contrary provision in any agreement evidencing such stock options) with such vesting reducing the number of shares subject to such stock options that would otherwise vest on each subsequent vesting date by 25%. (ii) if, within one year following the date of the consummation of such Change of Control, the Company or any successor thereto terminates your employment other than for Cause, or you terminate your employment for Good Reason, then, in lieu of any payments to you or on your behalf under Section 5(a) hereof, (A) the Company shall pay to you a lump sum payment equal to the sum of (x) your then-current annual base salary plus (y) your target bonus amount for the year in which such termination occurs, which amount shall be paid to you as provided in Section 5(f) below; (B) 100% of any then unvested equity and equity-based awards, including, but not limited to, stock options, held by you at the time of such termination shall fully vest, effective upon the date of such termination (notwithstanding any contrary provision in any agreement evidencing such equity or equity-based awards); and (C) if you are participating in the Company’s group health plan and/or dental plan at the time your employment terminates pursuant to this Section 5(c)(ii) and you exercise your right to continue participation in those plans under COBRA, the Company will pay or, at its option, reimburse you, on a monthly basis, for the full monthly premium cost of that participation for the 12 months following the date on which your employment with the Company terminates or, if earlier, until the date you become eligible to enroll in the health (and/or, if applicable, dental) plan of a new employer, it being understood that, to the extent that the payment of the base salary contemplated by clause (A)(x) of this Section 5(c)(ii) in a lump sum would result in adverse tax consequences under Section 409A, such payment shall instead be paid at the same time and in the same form as provided in Section 5(a)(i)(A) hereof.

  • Change of Management Not to make any substantial change in the present executive or management personnel of the Borrower.