CONTRACT DISCONTINUANCE Clause Samples

CONTRACT DISCONTINUANCE. Section 8.01 You may discontinue this contract at any time by giving written notice to us at our home office. The contract will be deemed discontinued on the later of the valuation date you specify or the valuation date that the written notice is received by us. 8.02 We may give you written notice that this contract is to be discontinued if (a) Any charges billed to you have not been paid to us within 30 days or (b) The plan does not qualify for special tax treatment under Sections 401(a), 403(a), 403(b), 414(d) or 457 of the code or (c) A modification in this contract is necessary in order to comply with Federal or State requirements, including ERISA, and you refuse to accept a substantially similar contract offered by us that incorporates such modification or (d) If we discontinue offering this contract to the public. Discontinuance pursuant to (a), (b) or (c) of this Section will be effective as of a valuation date specified by us, provided you are given at least 15 days advance written notice in which to cure any remediable defaults. Discontinuance pursuant to (d) will be effective as of a valuation date specified by us, provided you are given at least 90 days advanced written notice. Discontinuance by us supersedes any date established under Section 8.01. 8.03 As of the date this contract is discontinued under either Section 8.01 or Section 8.02 above, no further purchase payments will be accepted. However, transfers, withdrawals and loans will continue to be permitted, in accordance with the terms of this contract. 8.04 The contract will terminate when there is no account value remaining under this contract.
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CONTRACT DISCONTINUANCE. 6.01 You may discontinue this Contract at any time by giving Us Notice. The discontinuance date will be no more than 180 days from the date We receive Notice. If You Request a discontinuance date that is more than 180 days after We receive Notice, such Request will require Our approval. 6.02 We may give You written Notice that this Contract is to be discontinued if: a. any Plan ceases to meet the requirements of the Code sections specified by Us for purchasers of this Contract and You do not correct this within 30 days; or b. You fail to furnish requested information or other documentation; or c. We discover any misrepresentation of material information; or d. the Contract Owner is a trust and a valid trust no longer exists. The Notice will specify a discontinuance date at least 30 days from the date of the Notice. 6.03 After the notification of discontinuance as referenced in section 6.01 or 6.02, additional Deposits by an Annuitant to an AAV and Withdrawal Requests for any Annuitant from an AAV will be accepted by Us until the discontinuance date. 6.04 As of the discontinuance date, We will deduct any outstanding charges. 6.05 The balance of the Contract as of the discontinuance date, reduced by any charges outlined in this Contract, will be paid in a lump sum. If, subsequent to such lump sum payment, We are ordered by any court of competent jurisdiction to refund all or any portion of a loss to any Annuitant, You will reimburse Us for such amounts. 6.06 All payments will be made to a Plan trustee or as directed by You. We will rely on Your Notice to transfer assets to a specified party. We do not need to verify that such specified party has the right to receive any payments. 6.07 This Contract will terminate on the date the last payment is made under the provisions of Article 4 and Article 8. 6.08 Upon termination of this Contract, all liability of the Company under this Contract terminates and the Company will pay the Account Value to the Plan or provide a Rollover Contract as described in Article 5.
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CONTRACT DISCONTINUANCE. You or We may discontinue this Contract at any time by providing the other party with [30] days advance notice. The Discontinuance Date will be the date specified in the notice, or, if later, the date which is [30] days from the date the notice is received. Although Contributions will continue to be accepted by MetLife to purchase additional Income Annuity, no new Annuitant applications will be accepted after the Discontinuance Date. Any decision to terminate this Contract will not affect any rights and guarantees Annuitants have with respect to the Income Annuity amounts purchased on their behalf. MetLife's obligations to those Annuitants will continue and will have the full force and affect as if the Discontinuance Date had not occurred. At any time following the Discontinuance Date MetLife reserves the right to discontinue accepting additional Contributions and allowing any further Income Annuity purchases. Annuitants will receive notification [60] days in advance should MetLife decide to discontinue accepting additional Contributions. Annuitants may continue to make purchases during the [60] day notification period.
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CONTRACT DISCONTINUANCE. Section 8.01 You may discontinue this Contract at any time by giving written notice to us at our Home Office. The Contract will be deemed discontinued on the later of the Valuation Date you specify or the Valuation Date that the written notice is received by us. 8.02 We may give you written notice that this Contract is to be discontinued if the Plan does not qualify for special tax treatment under Sections 401(a), 403(a), 403(b), 414(d) or 457 of the Code. Discontinuance pursuant to this Section 8.02 will be effective as of a Valuation Date specified by us, provided you are given at least 15 days advance written notice in which to cure any remediable defaults. Discontinuance by us supercedes any date established under Section 8.01. 8.03 As of the date this Contract is discontinued under Section 8.01 and if the Plan is not subject to ERISA, no further Contributions will be accepted. However, transfers, withdrawals and loans will continue to be permitted, in accordance with the terms of this Contract.
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CONTRACT DISCONTINUANCE. 8.01 You may discontinue this Contract at any time by giving written notice to us at our Home Office. The Contract will be deemed discontinued on the later of the Valuation Date you specify or the Valuation Date that the written notice is received by us. 8.02 We may give you written notice that this Contract is to be discontinued if the Plan does not qualify for special tax treatment under Sections 401(a), 403(a), 403(b), 414(d), or 457 of the Code. Discontinuance pursuant to this Section 8.02 will be effective as of a Valuation Date specified by us, provided you are given at least 15 days advance written notice in which to cure any remediable defaults. Discontinuance by us supercedes any date established under Section 8.01. 8.03 As of the date this Contract is discontinued under Section 8.01, no further Purchase Payments will be accepted. However, transfers, withdrawals and loans will continue to be permitted, in accordance with the terms of this Contract. As of the date this Contract is discontinued under Section 8.02, no further Purchase Payments, transfers, withdrawals or loans will be permitted. Subject to applicable regulatory requirements, as of the discontinuance date established under Section 8.02 the Account Value will be paid in accordance with the provisions of Section 4.07. We will send written notice to each Participant's last known address stating that the Contract is discontinued. 8.04 The Contract will terminate when there is no Account Value remaining under this Contract.
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CONTRACT DISCONTINUANCE. This contract shall be discontinued: (a) if the Contract Owner gives written notice to the Company that the contract is being discontinued, in which event the date of discontinuance shall be the later of: (1) the first business day following the date on which such notice is received by the Company at its Home Office in Springfield, Illinois, or (2) the business day specified in such notice; or (b) if no contributions are made to the contract with respect to a contract year and the Company gives written notice to the Contract Owner that the date of discontinuance will occur as of the date specified in such notice, such date not to be earlier than 31 days after the date such notice is mailed by the Company; or (c) notwithstanding any provision of this contract to the contrary, after five completed contract years, the Company shall have the right, in accordance with its existing administrative practices and procedures, to discontinue the contract and pay all contract values without ▇▇▇▇▇▇ ▇▇▇▇ LIFE INSURANCE COMPANY [LOGO] application of contingent deferred sales charges under the contract, to the Contract Owner in full, provided that the Company gives the Contract Owner 90 days advance written notice, and further provided that the Company takes the same action with respect to all contracts of the same class and risk characteristics.
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Related to CONTRACT DISCONTINUANCE

  • Unscheduled Maintenance Unscheduled maintenance may be required to resolve issues that are critical for Customer and/or performance of the Cloud Services. Druva will use its commercially reasonable efforts to notify Customer at least six (6) hours prior to the unscheduled maintenance.

  • Overages If your actual usage of the Cloud Service during the measurement period exceeds the entitlement stated on the ▇▇▇ portion of the Order Document, then you will be invoiced for the overage, as set forth in the Order Document.

  • PERMANENT ESTABLISHMENT 1. For the purposes of this Agreement, the term "permanent establishment" means a fixed place of business through which the business of an enterprise is wholly or partly carried on. 2. The term " permanent establishment" includes especially: (a) a place of management; (b) a branch; (c) an office; (d) a factory; (e) a workshop; and (f) a mine, an oil or gas well, a quarry or any other place of extraction of natural resources. 3. The term "permanent establishment" also includes: (a) a building site or construction or assembly or installation project or supervisory activities in connection therewith, but only where such site, project or activities continue for a period or periods aggregating more than 6 months within any twelve-month period; (b) the furnishing of services, including consultancy services, by a resident of a Contracting State through employees or other personnel engaged by the enterprise for a period or periods aggregating more than 183 days within any twelve-month period. 4. Notwithstanding the preceding provisions of this Article, the term "permanent establishment" shall be deemed not to include: (a) the use of facilities solely for the purpose of storage, display or delivery of goods or merchandise belonging to the enterprise; (b) the maintenance of a stock of goods or merchandise belonging to the enterprise solely for the purpose of storage, display or delivery; (c) the maintenance of a stock of goods or merchandise belonging to the enterprise solely for the purpose of processing by another enterprise; (d) the maintenance of a fixed place of business solely for the purpose of purchasing goods or merchandise or of collecting information, for the enterprise; (e) the maintenance of a fixed place of business solely for the purpose of carrying on, for the enterprise, any other activity of a preparatory or auxiliary character; (f) the maintenance of a fixed place of business solely for any combination of activities mentioned in sub-paragraphs (a) to (e), provided that the overall activity of the fixed place of business resulting from this combination is of a preparatory or auxiliary character. 5. Notwithstanding the provisions of paragraphs 1 and 2, where a person -- other than an agent of an independent status to whom paragraph 6 applies -- is acting on behalf of an enterprise and has, and habitually exercises, in a Contracting State an authority to conclude contracts in the name of the enterprise, that enterprise shall be deemed to have a permanent establishment in that State in respect of any activities which that person undertakes for the enterprise, unless the activities of such person are limited to those mentioned in paragraph 4 which, if exercised through a fixed place of business, would not make this fixed place of business a permanent establishment under the provisions of that paragraph. 6. An enterprise shall not be deemed to have a permanent establishment in a Contracting State merely because it carries on business in that State through a broker, general commission agent or any other agent of an independent status, provided that such persons are acting in the ordinary course of their business. 7. The fact that a company which is a resident of a Contracting State controls or is controlled by a company which is a resident of the other Contracting State, or which carries on business in that other State (whether through a permanent establishment or otherwise), shall not of itself constitute either company a permanent establishment of the other.

  • Contractor’s Equipment The Contractor shall be responsible for all Contractor’s Equipment. The Contractor’s Equipment shall be deemed to be exclusively intended for the execution of the Works.

  • Contract Work Contract work means capital project work within existing plant facilities, major maintenance and/or revamp work, plant modifications and/or shutdown work, minor maintenance and/or repair work, breakdown maintenance.