FLEXIBLE PURCHASE PAYMENTS Sample Clauses

The Flexible Purchase Payments clause allows buyers to make payments for goods or services in varying amounts or at different intervals, rather than adhering to a fixed payment schedule. This clause typically applies in situations where purchase quantities or delivery times may fluctuate, such as ongoing supply agreements or subscription-based services. By accommodating changes in payment timing or amounts, the clause provides both parties with greater adaptability and helps address uncertainties in demand or cash flow.
FLEXIBLE PURCHASE PAYMENTS. This Contract will not be in force until we receive at our Home Office the initial Purchase Payment. You may make additional Purchase Payments at any time before the Annuity Start Date, while the Owner is living, and this Contract is in force. Purchase Payments are payable in U.S. dollars and checks should be made payable to SBL. Purchase Payments exceeding $1,000,000 will not be accepted without prior approval by SBL. The Minimum Subsequent Purchase Payment amount is shown on page 3. Purchase Payments will be allocated among the Fixed Account and the Subaccounts. The allocations may be a whole dollar amount or a whole percentage and no less than $25 per Purchase Payment may be allocated to any Account. Purchase Payments will be allocated according to the Owner's instructions in the Application or more recent instructions, if any. The Owner may change the allocations by written notice to SBL.
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FLEXIBLE PURCHASE PAYMENTS. This Contract will not be in force until we receive at our Administrative Office the initial Purchase Payment. You may make additional Purchase Payments at any time before the Annuity Start Date, while the Owner is living, and this Contract is in force. Purchase Payments are payable in U.S. dollars and checks should be made payable to FSBL.
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FLEXIBLE PURCHASE PAYMENTS. The Contract is bought for: (1) The First Purchase Payment; and (2) purchase payments made after the First, if any. The cumulative total of all purchase payments under this and any other annuity contract(s) issued by the Company having the same Designated Annuitant may not exceed $1,000,000 without the prior consent of the Company.
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FLEXIBLE PURCHASE PAYMENTS. Deferred Variable Annuity Contract
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FLEXIBLE PURCHASE PAYMENTS. Purchase Payments are credited to the contract on the Valuation Date coincident with or next following the day they are received in our home office. If they are received on a day that is not a Valuation Date, those amounts will be credited on the next Valuation Date. ICC19-70506 Minnesota Life 6 This is a flexible premium contract and you may choose when to make additional Purchase Payments. You may make additional Purchase Payments at any time before the Annuity Commencement Date, while the Owner is still living, and this contract is in force. We may permit your employer to remit Purchase Payments on your behalf. Additional Purchase Payments may not be made during periods in which you are eligible for a withdrawal or surrender without charge due to your confinement in a hospital or medical care facility or in the event you are diagnosed with a terminal condition. These provisions are described in the Hospital, Medical Care, and Terminal Condition Waiver Endorsement.
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FLEXIBLE PURCHASE PAYMENTS. Purchase Payments are credited to the contract on the Valuation Date coincident with or next following the day they are received in our home office. If they are received on a day that is not a Valuation Date, those amounts will be credited on the next Valuation Date. This is a flexible premium contract and you may choose when to make additional Purchase Payments. You may make additional Purchase Payments at any time before the Annuity Commencement Date, while the Owner is still living, and this contract is in force. We may permit your employer to remit Purchase Payments on your behalf. Additional Purchase Payments may not be made during periods in which you are eligible for a withdrawal or surrender without charge due to your confinement in a hospital or medical care facility or in the event you are diagnosed with a terminal illness. Eligibility for these benefits is as defined in the "Withdrawal and Surrender" section of this contract.
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FLEXIBLE PURCHASE PAYMENTS. This Contract is bought for: (1) the Initial Purchase Payment; and (2) purchase payments made after the first, if any. The cumulative total of all purchase payments under this and any other annuity contract(s) issued by the Company having the same Annuitant may not exceed $1,000,000 without the prior consent of the Company. INITIAL PURCHASE PAYMENT The Initial Purchase Payment is due on the Date of Issue. The Initial Purchase Payment may not be less than $5,000 for Non-Qualified Contracts. However, if periodic payments are expected by the Company, this Initial Purchase Payment may be satisfied by purchase payments made on an annualized basis. For Qualified Contracts issued pursuant to a retirement plan which receives favorable tax treatment under the provisions of Section 408 of the Internal Revenue Code; the minimum purchase payment is $2,000. However, if periodic payments are expected by the Company, the Company will accept purchase payments which, on an annualized basis, are at least $2,000 for the first Contract Year. Purchase Payments, if any, after the first Contract Year must be at least $10 each. The Company reserves the right to reject any Purchase Payment which does not meet this minimum payment requirement. NO DEFAULT There are no penalties for failure to continue Purchase Payments. Unless surrendered for the full Contract Value, the Contract will continue in full force until the Annuity Commencement Date. This Contract will not be in default, even if no additional purchase payments are made after the first. CHANGE IN PURCHASE PAYMENTS The Owner is not obligated to continue Purchase Payments. The Owner may: (1) increase or decrease the amount of Purchase Payments, subject to any minimum payment requirements; (2) change the frequency of Purchase Payments. A change in the frequency or amount of Purchase Payments does not have to be made by written request. ALLOCATION OF PURCHASE PAYMENTS The Owner elects to have the Purchase Payments allocated among the Fixed Account and the Sub-Accounts of the Variable Account at the time of application. CONTRACT VALUE The Contract Value at any time will be the sum of: (1) the Variable Account Contract Value; and (2) the Fixed Account Contract Value.
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FLEXIBLE PURCHASE PAYMENTS. This Contract is bought for: (1) the Initial Purchase Payment; and (2) purchase payments made after the first, if any. The cumulative total of all purchase payments under this and any other annuity contract(s) issued by the Company having the same Annuitant may not exceed $1,000,000 without the prior consent of the Company. INITIAL PURCHASE PAYMENT The Initial Purchase Payment is due on the Date of Issue. The Initial Purchase Payment may not be less than $5,000 for Non-Qualified Contracts. However, if periodic payments are expected by the company, this Initial Purchase Payment may be satisfied by purchase payments made on an annualized basis. For Qualified Contracts issued pursuant to a retirement plan which receives favorable tax treatment under the provisions of Section 408 of the Internal Revenue Code; the minimum purchase payments $2,000. However, if periodic payment are expected by the Company, the Company will accept purchase payments which, on an annualized basis, are at least $2,000 for the first Contract Year. Purchase Payments, if any, after the first Contract Year must be at least $10 each. The Company reserves the right to reject any Purchase Payment which does not meet this minimum payment requirement. NO DEFAULT There are no penalties for failure to continue Purchase Payments. Unless surrendered for the full Contract Value, the Contract will continue in full force until the Annuity Commencement Date. This Contract will not be in default, even if no additional purchase payment are made after the first.
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Related to FLEXIBLE PURCHASE PAYMENTS

  • PURCHASE PAYMENTS The initial Purchase Payment is due on the Certificate Date. It must be paid at Our Office in United States currency. Coverage under a Certificate does not take effect until We have accepted the initial Purchase Payment during a Certificate Owner's lifetime. Each Purchase Payment after the Certificate Date must be at least the amount shown on the Certificate Schedule. Provided the Certificate Value under a Certificate does not go to zero, a Certificate will stay in force until the Income Date even if a Certificate Owner make no payments after the initial one. We reserve the right to reject any subsequent Purchase Payment. An initial Purchase Payment is allocated to the Sub-accounts of the Variable Account, and to the Fixed Account if available, in accordance with the selections made by a Certificate Owner at the Certificate Date. Unless otherwise changed by a Certificate Owner, subsequent Purchase Payments are allocated in the same manner as the initial Purchase Payment. Allocation of Purchase Payments is subject to the terms and conditions imposed by Us. We reserve the right to allocate initial Purchase Payments to the Money Market Sub-account until the expiration of the Right to Examine Certificate period set forth on the first page of the Group Contract and the Certificate. The Group Contract, including the application, if any, and any attached rider or endorsement constitute the entire contract between the Group Contract Owner and Us. All statements made by the Group Contract Owner, any Certificate Owner or any Annuitant will be deemed representations and not warranties. No such statement will be used in any contest unless it is contained in the application signed by the Group Contract Owner or in a written instrument signed by the Certificate Owner, a copy of which has been furnished to the Certificate Owner, the Beneficiary or to the Group Contract Owner. Only Our President or Secretary may agree to change any of the terms of the Group Contract. Any changes must be in writing. Any change to the terms of a Certificate must be in writing and with Certificate Owner's consent, unless provided otherwise by the Group Contract and the Certificate. To assure that the Group Contract and the Certificate will maintain their status as a variable annuity under the Internal Revenue Code, We reserve the right to change the Group Contract and any Certificate issued thereunder to comply with future changes in the Internal Revenue Code, any regulations or rulings issued thereunder, and any requirements otherwise imposed by the Internal Revenue Service. The Group Contract Owner and the affected Certificate Owner will be sent a copy of any such amendment. We reserve the right, subject to compliance with the law as currently applicable or subsequently changed, to: (a) operate the Variable Account in any form permitted under the Investment Company Act of 1940, as amended, (the "1940 Act"), or in any other form permitted by law; (b) take any action necessary to comply with or obtain and continue any exemptions from the 1940 Act, or to comply with any other applicable law; (c) transfer any assets in any Sub-account to another Sub-account, or to one or more separate investment accounts, or the General Account; or to add, combine or remove Sub-accounts in the Variable Account; and (d) change the way We assess charges, so long as We do not increase the aggregate amount beyond that currently charged to the Variable Account and the Eligible Funds in connection with a Certificate. If the shares of any of the Eligible Funds should become unavailable for investment by the Variable Account or if in Our judgment further investment in such Portfolio shares should become inappropriate in view of the purpose of the Certificate, We may add or substitute shares of another mutual fund for the Portfolio shares already purchased under the Certificate. No substitution of Portfolio shares in any Sub-account may take place without prior approval of the Securities and Exchange Commission and notice to the affected Certificate Owners, to the extent required by the 1940 Act.

  • Purchase Price Payments (a) On each Payment Date, on the terms and subject to the conditions of this Agreement, the Initial Purchaser shall pay to KBK the Purchase Price for the Receivables and Related Assets to be purchased on such day by (i) making a cash payment to or at the direction of KBK to the extent that the Initial Purchaser has cash available to make such payment pursuant to SECTION 3.3, and (ii) automatically increasing the principal amount outstanding under the Purchaser Note issued to KBK by the amount of the excess, if any, of the Purchase Price to be paid to KBK for such Receivables and Related Assets OVER the amount of any payment made on such day pursuant to CLAUSE (I) next above. (b) On each Payment Date, the Initial Purchaser shall reduce the Purchase Price payable to KBK for the Receivables and Related Assets that the Initial Purchaser is to purchase on such day by an amount (the "PURCHASE PRICE ADJUSTMENTS") equal to the difference between (i) the sum of (A) the Dilution Adjustment (as defined in SECTION 3.5(B)), if any, for the immediately preceding Business Day, PLUS (B) the Noncomplying Receivables Adjustment (as defined in SECTION 3.5(A)), if any, for the immediately preceding Business Day, MINUS (ii) the amount of any payments that the Initial Purchaser shall have received on the immediately preceding Business Day on account of Collections due with respect to Noncomplying Receivables that have been included in an Purchase Price Adjustment previously deducted or paid in accordance with this SECTION 3.1. (c) If the Purchase Price Adjustments on any Payment Date exceed the Purchase Price payable by the Initial Purchaser to KBK on such day, then the principal amount of the Purchaser Note shall be automatically reduced by the amount of such excess; PROVIDED, that if the Purchaser Note has been reduced to zero, then KBK shall pay to the Initial Purchaser in cash the amount of such Purchase Price Adjustments on the next succeeding Business Day; and PROVIDED FURTHER, HOWEVER, that at any time (y) when a Liquidation Event or Unmatured Liquidation Event exists or (z) on or after the Purchase Termination Date, the amount of any such credit shall be paid by KBK to the Initial Purchaser by deposit in immediately available funds into the Collection Account for application by Servicer to the same extent as if Collections of the applicable Receivable in such amount had actually been received on such date.

  • Agreement to Purchase Purchase Price Buyer acknowledges that it was the successful bidder for the Property at the Foreclosure Sale with a successful bid for the Property at the Foreclosure Sale in the amount of [ ] ($ ) (the “Purchase Price”), and agrees to purchase all of the interest in the Property from Seller in accordance with and in reliance upon the terms and conditions of this Agreement.

  • Purchase Price Payment The total Purchase Price for the Property is the amount of the successful bid for the parcel at public auction.

  • Advance Payments The Employer agrees to issue advance payments of estimated net salary for vacation periods of two (2) or more complete weeks, providing a written request for such advance payment is received from the employee at least six (6) weeks prior to the last pay before the employee’s vacation period commences, and providing the employee has been authorized to proceed on vacation leave for the period concerned. Pay in advance of going on vacation shall be made prior to departure. Any overpayment in respect of such pay advances shall be an immediate first charge against any subsequent pay entitlement and shall be recovered in full prior to any further payment of salary.