Full and Partial Surrenders Clause Samples

Full and Partial Surrenders. You may fully surrender your Contract any time prior to the Annuity Commencement Date. You may request a partial surrender prior to the Annuity Commencement Date provided the Contract Value remaining after the partial surrender is at least {$5,000} for non-qualified Contracts or {$2,000} for qualified Contracts. The amount we pay upon a full or partial surrender is equal to the Contract Value surrendered minus applicable surrender charges, if any, fees and premium tax. We will make partial surrenders pro-rata from the Allocation Options {Penalty Free Surrender—During the first Contract Year you may withdraw an amount equal to {10%} of your initial Purchase Payments without incurring a surrender charge. In any subsequent Contract Year you may withdraw, without incurring a surrender charge, an amount equal to the greatest of:
View SourceView Similar (4)
Full and Partial Surrenders. You may fully surrender your Contract any time prior to the Maturity Date. You may request a partial surrender prior to the Maturity Date provided that the Contract Value remaining after the partial surrender meets the minimum limits shown on the Contract Schedule. If the remaining Contract Value after a partial surrender is less than the minimum shown on the Contract Schedule, then we will treat the surrender request as a full surrender. The amount we pay upon a full or partial surrender is equal to the Contract Value surrendered minus fees and premium tax, if any. We will make partial surrenders pro-rata from the Sub-Accounts. A surrender will result in the cancellation of Accumulation Units from each applicable subaccount of the Separate Account in the ratio that the Contract Value in the subaccount bears to the total Contract Value. You must specify in a notice to us from which subaccount(s) values are to be surrendered if a different method is desired. Your surrender request must be in writing. We will accept surrender requests submitted via facsimile. There are risks associated with not requiring original signatures in order to disburse the money. To minimize the risks, the proceeds will be sent to your last recorded address in our records, so be sure to notify us, in writing with an original signature of any address change. We do not assume responsibility for improper disbursements if you have failed to provide us with the current address to which the proceeds should be sent. We will pay the amount of any surrender within seven (7) days of receipt of the notice in good order unless we have suspended or postponed payments for surrenders. If payment of the surrender proceeds is not made within 30 days of our receipt of your written request, or if later, within 30 days of the surrender date you specify, the proceeds will be credited with interest from the date of surrender. The rate of interest will be set each year by us, but will not be less than any rate of interest required by law. Suspension or Delay in Payment of Surrender: We may suspend or postpone payments for a surrender or transfer for any period when: • the New York Stock Exchange is closed, • when trading on the New York Stock Exchange is restricted, • when an emergency exists and as a result the disposal of securities in the Variable Accounts is not reasonably practicable or it is not reasonably practicable to fairly determine the value of the net assets in the Variable Accounts, or • dur...
View SourceView Similar (3)
Full and Partial Surrenders. You may fully surrender your Contract any time prior to the Annuity Commencement Date. You may request a partial surrender prior to the Annuity Commencement Date provided the Contract Value remaining after the partial surrender is at least equal to the minimum amount required to purchase a Contract. The amount we pay upon a full or partial surrender is equal to the Contract Value surrendered minus applicable fees and premium tax, if any. We will make partial surrenders pro-rata from the Allocation Options.
View Source
Full and Partial Surrenders. You may surrender this contract at any time prior to the Annuitization Date provided that the Owner is living. Notice to surrender this contract must be provided to Us at Our office. You may surrender this contract in full for the surrender value. The surrender value at any time is equal to the accumulated value on the date We receive Your Notice, less any applicable Surrender Charge, Transaction Fees and/or Annual Fees.
View Source
Full and Partial Surrenders. You may fully surrender your Contract any time prior to the Annuity Commencement Date. You may request a partial surrender prior to the Annuity Commencement Date provided the Contract Value remaining after the partial surrender is at least {$5,000} for non-qualified Contracts or {$2,000} for qualified Contracts. The amount we pay upon a full or partial surrender is equal to the Contract Value surrendered minus any applicable fees and premium taxes. We will make partial surrenders pro-rata from the Allocation Options Suspension or Delay in Payment of Surrender—The Company may suspend or delay the date of payment of a partial or full surrender from the Variable Account value for any period:
View Source
Full and Partial Surrenders. A full surrender of the Contract may be made any time prior to the Annuity Commencement Date. Partial surrenders may be made prior to the Annuity Commencement Date provided the Contract Value remaining after the surrender is at least {$10,000}. The amount we pay upon a full or partial surrender is equal to the Contract Value surrendered minus any applicable surrender charge, premium tax and contract maintenance fee. We will surrender amounts pro-rata from the Allocation Options. Penalty Free Surrender—During the first Contract Year you may surrender an amount equal to {10%} of your initial Purchase Payment without incurring a surrender charge. After the first Contract Anniversary you may surrender an amount equal to {10%} of the Contract Value as of the prior Contract Anniversary without incurring a surrender charge. This is called a 'penalty free surrender'. Partial surrenders in excess of the penalty free surrender during any Contract Year and a full surrender may be subject to the surrender charge. Determining the Surrender Charge—We calculate the surrender charge by first allocating surrendered Contract Value in excess of the penalty free surrender to Purchase Payments not previously assessed with a surrender charge using a "first-in, first-out" (FIFO) basis. We then allocate any remaining surrendered Contract Value pro-rata to these Purchase Payments. The surrender charge is the total of each of the allocated amounts of surrendered Contract Value multiplied by its applicable surrender charge percentage, as shown on the Schedule. If the surrendered Contract Value exceeds the penalty free surrender and if no surrendered Contract Value was allocated to Purchase Payments, the surrender charge on the surrendered Contract Value is determined by applying the surrender charge percentage associated with the most recent Purchase Payment we accepted. Suspension or Delay in Payment of Surrender—The Company may suspend or delay the date of payment of a partial or full surrender from the Variable Account value for any period:
View Source

Related to Full and Partial Surrenders

  • Surrender Holding Over (a) Upon the expiration or earlier termination of this Lease, Tenant shall peaceably leave and surrender the Leased Premises to Landlord in substantially the same condition in which the Leased Premises was at the commencement of this Lease, except as repaired, rebuilt, restored, altered, replaced or added to as permitted or required by any provision of this Lease, and except for ordinary wear and tear. Upon such surrender, Tenant shall (a) remove from the Leased Premises all property which is owned by Tenant or third parties other than Landlord and (b) repair any damage caused by such removal. Property not so removed shall become the property of Landlord, and Landlord may thereafter cause such property to be removed from the Leased Premises. The reasonable cost of removing and disposing of such property and repairing any damage to any of the Leased Premises caused by such removal shall be paid by Tenant to Landlord upon demand. Landlord shall not in any manner or to any extent be obligated to reimburse Tenant for any such property which becomes the property of Landlord pursuant to this Paragraph 26. (b) If Tenant fails to surrender possession of the Leased Premises to Landlord at the expiration or earlier termination of this Lease, then Tenant shall be a tenant at sufferance and, in addition to all other damages and remedies to which Landlord may be entitled for such holding over, Tenant shall pay, in addition to the other Rent, a daily Basic Rent equal to the greater of (i) 5% of the monthly installment of Basic Rent payable during the last full month of the Term, or (ii) 100% of the then prevailing rental rate for the Leased Premises unless Landlord has entered into a lease with another tenant for all or a portion of the Leased Premises, in which case the amount calculated under this clause (ii) shall be equal to 125% of the then prevailing rental rate for the Leased Premises. The provisions of this Paragraph 26(b) shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If Tenant fails to surrender the Leased Premises upon the termination or expiration of this Lease, in addition to any other liability to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all losses, costs (including reasonable attorneys' fees) and liability resulting from such failure, including, without limiting the generality of the foregoing, any claims made by any succeeding tenant founded upon such failure to surrender, and any lost profits to Landlord resulting therefrom.

  • Cancellation and Destruction of Surrendered ADRs; Maintenance of Records All ADRs surrendered to the Depositary shall be canceled by the Depositary. Canceled ADRs shall not be entitled to any benefits under the Deposit Agreement or be valid or enforceable against the Depositary for any purpose. The Depositary is authorized to destroy ADRs so canceled, provided the Depositary maintains a record of all destroyed ADRs. Any ADSs held in book-entry form (e.g., through accounts at DTC) shall be deemed canceled when the Depositary causes the number of ADSs evidenced by the Balance Certificate to be reduced by the number of ADSs surrendered (without the need to physically destroy the Balance Certificate).

  • Surrender and Holding Over (a) Upon the expiration or earlier termination of this Lease, Tenant shall peaceably leave and surrender the Leased Premises to Landlord in “broom clean” and in good condition and repair, ordinary wear and tear excepted, and otherwise in accordance with the terms and conditions of this Lease. Tenant shall remove from the Leased Premises on or prior to such expiration or earlier termination the Trade Fixtures and personal property which is owned by Tenant or third parties other than Landlord, and Tenant at its expense shall, on or prior to such expiration or earlier termination, repair any damage caused by such removal. Trade Fixtures and personal property not so removed at the expiration of the Term or within thirty days after the earlier termination of the Term for any reason whatsoever shall become the property of Landlord, and Landlord may thereafter cause such property to be removed from the Leased Premises. The cost of removing and disposing of such property and repairing any damage to any of the Leased Premises caused by such removal shall be borne by Tenant. Landlord shall not in any manner or to any extent be obligated to reimburse Tenant for any property which becomes the property of Landlord as a result of such expiration or earlier termination. Notwithstanding anything to the contrary in this Paragraph 23(a), Tenant shall not be obligated to remove any safe or vault located on the Leased Premises nor shall it be responsible for the cost of removal or disposal of any safe or vault nor for the cost of repairing any damage caused by the removal of any safe or vault by the Landlord. (b) Any holding over by Tenant of the Leased Premises after the expiration or earlier termination of the term of this Lease or any extensions thereof, with the consent of Landlord, shall operate and be construed as tenancy from month to month only, at one hundred fifty percent (150%) of the Basic Rent reserved herein and upon the same terms and conditions as contained in this Lease. In addition, Tenant shall be liable to Landlord for and shall indemnify Landlord from and against all Claims that Landlord suffers as a result of such holding over, including without limitation, any claims made by any succeeding occupant or purchaser founded on such delay. Notwithstanding the foregoing, any holding over without Landlord’s consent shall entitle Landlord, in addition to collecting Basic Rent at the rate set forth in this subsection (b), to exercise all rights and remedies provided by law or in equity, including the remedies of Paragraph 19(b).

  • Surrender Upon Termination The Executive agrees that in the event of the termination of the Executive's employment for any reason, whether before or after the Term, the Executive will immediately deliver to the Company all property belonging to the Company, including documents and materials of any nature pertaining to the Executive's work with the Company, and will not take with the Executive any documents or materials of any description, or any reproduction thereof of any description, containing or pertaining to any Confidential Information. It is understood that the Executive is free to use information that is in the public domain, but not as a result of a breach of this Agreement.

  • Surrender/Restoration Lessee shall surrender the Premises by the end of the last day of the Lease term or any earlier termination date, clean and free of debris and in good operating order, condition and state of repair, ordinary wear and tear excepted. Ordinary wear and tear shall not include any damage or deterioration that would have been prevented by good maintenance practice or by Lessee performing all of its obligations under this Lease. Except as otherwise agreed or specified herein, the Premises, as surrendered, shall include the Alterations and Utility Installations. The obligation of Lessee shall include the repair of any damage occasioned by the installation, maintenance or removal of Lessee's Trade Fixtures, furnishings, equipment, and Lessee-Owned Alterations and Utility Installations, as well as the removal of any storage tank installed by or for Lessee, and the removal, replacement, or remediation of any soil, material or ground water contaminated by Lessee, all as may then be required by Applicable Requirements and/or good practice. Lessee's Trade Fixtures shall remain the property of Lessee and shall be removed by Lessee subject to its obligation to repair and restore the Premises per this Lease.