EFFECTIVE DATE AND CHANGES TO THE POLICY Sample Clauses

EFFECTIVE DATE AND CHANGES TO THE POLICY. The change to the Paid-up Option will be effective on the monthly processing date on which the request is received at the Home Office, but if the request is not received on a monthly processing date then it will be effective on the next monthly processing date. Upon the change to the Paid-up Option, the following will occur: • any amounts in the Investment Account will be transferred to the Company’s general account; • any amounts in the NM Strength and Stability Account will be combined with the amounts transferred from the Investment Account and will become the Contract Fund Value subject to Section 11.3; • any existing Policy Debt continues; • the Death Benefit Option will be changed to Option A, if Option A is not in effect at the time of election; • the Definition of Life Insurance will be changed to the Cash Value Accumulation Test, if the Cash Value Accumulation test is not in effect at the time of election; • the Specified Amount will be changed to equal the Paid-up Specified Amount which is equal to the Policy Value (after deduction of any withdrawals on the date of the change) divided by the factor shown on the Table of Factors for Paid-up Option shown on the Policy Schedule Pages (page 8), for the applicable monthly processing date; • any Death Benefit Guarantee will be terminated; and • any additional benefits will be terminated.
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EFFECTIVE DATE AND CHANGES TO THE POLICY. The change to the Paid-up Option will be effective on the monthly processing date on which the request is received at the Home Office, but if the request is not received on a monthly processing date then it will be effective on the next monthly processing date. Upon the change to the Paid-up Option, the following will occur: · any amounts in the Investment Account will be transferred to the Company’s general account; · any applicable surrender charge will be deducted; · any existing Policy Debt continues; · the Death Benefit Option will be changed to Option A, if Option A is not in effect at the time of election; · the Definition of Life Insurance will be changed to the Cash Value Accumulation Test, if the Cash Value Accumulation test is not in effect at the time of election; · the Specified Amount will be changed to equal the Paid-up Specified Amount which is equal to the Policy Value (after deduction of the surrender charge and any withdrawals on the date of the change) divided by the factor shown on the Table of Factors for Paid-up Option shown on the Policy Schedule Pages (page 8), for the applicable monthly processing date; · any Death Benefit Guarantee will be terminated; and · any additional benefits will be terminated.
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Related to EFFECTIVE DATE AND CHANGES TO THE POLICY

  • Changes to the Terms of this Agreement. This Agreement and any provision hereof may only be amended by an instrument in writing signed by the Company and the Buyer. The term "Agreement" and all reference thereto, as used throughout this instrument, shall mean this instrument as originally executed, or if later amended or supplemented, then as so amended or supplemented.

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  • Effective Date and Termination This Agreement shall become effective as of the date of its execution, and a. unless otherwise terminated, this Agreement shall continue in effect for two years from the date of execution, and from year to year thereafter so long as such continuance is specifically approved at least annually (i) by the Board of Trustees of the Trust or by vote of a majority of the outstanding voting securities of the Series, and (ii) by vote of a majority of the trustees of the Trust who are not interested persons of the Trust, the Manager or the Sub-Adviser, cast in person at a meeting called for the purpose of voting on such approval; b. this Agreement may at any time be terminated on sixty days' written notice to the Sub-Adviser either by vote of the Board of Trustees of the Trust or by vote of a majority of the outstanding voting securities of the Series; c. this Agreement shall automatically terminate in the event of its assignment or upon the termination of the Advisory Agreement; and d. this Agreement may be terminated by the Sub-Adviser on ninety days' written notice to the Manager and the Trust, or by the Manager on ninety days' written notice to the Sub-Adviser. Termination of this Agreement pursuant to this Section 10 shall be without the payment of any penalty.

  • Changes to the Parties (a) Amend the new language to be included pursuant to paragraph 2 of Schedule 9 of this Agreement to add the words “except to the extent permitted by this Agreement and” at the start of the paragraph. (b) Amend paragraph (c)(i) of Clause 28.8 (Additional Obligors) to add the words “under the relevant Facility” after the words “Majority Lenders”.

  • Effective Date and Term The amendments to the Contract as set out in this Supplemental Agreement shall have effect from the Effective Date and shall cease to have effect on the Expiry Date or earlier termination of the Contract.