Common use of CONTRACT PROCESSING Clause in Contracts

CONTRACT PROCESSING. PERIOD - The period between successive Contract Processing Dates unless it is the first Contract Processing Period. In that case, it is the period from the Contract Date to the first Contract Processing Date. CONTRACTHOLDER - the entity to whom the group contract is issued. CONTRACT YEAR - The period between Contract Anniversaries. IMPORTANT TERMS (continued) - ------------------------------------------------------------------------------ EXPERIENCE FACTOR - The factor which reflects the investment experience of the portfolio in which a Variable Separate Account Division invests and also reflects the charges assessed against the Division for a Valuation Period. FIXED ACCOUNT - This is the Separate Account established to support Fixed Allocations. FIXED ALLOCATION - An amount allocated to the Fixed Account that is credited with a Guaranteed Interest Rate for a specified Guarantee Period. GUARANTEE PERIOD - The period of years a rate of interest is guaranteed to be credited to a Fixed Allocation or allocations to a Guaranteed Interest Division. GUARANTEED INTEREST DIVISION - An investment option available in the General Account, an account which contains all of our assets other than those held in our Separate Accounts.