Common use of Participant's Accounts Clause in Contracts

Participant's Accounts. Prudential will establish a "Participant's Account" for each person for whom a contribution is paid under this contract. This Account is expressed in Units of the separate investment account described in section on 2.1 A number of Units will be added to the Participant's Account on each day a contribution is received by Prudential for the Participant. This number is determined by dividing the dollar amount of the contribution by the Unit Value for the day the contribution is received (see section 2.2 for a description of the Unit Value). A number of Units will be subtracted from the Participant's Account on each day on which a withdrawal is made from his Account. This number is equal to the number GVA-120-87 (10/11) (as modified by Group Annuity Amendment Form GAA-7764) Serial 110 1.1-1.2 requested for withdrawal or, if applicable, the number determined by dividing the dollar amount to be withdrawn by the Unit Value for the day of withdrawal. A Participant's Account is the sum of the Units added to it, less the sum of the Units subtracted from it. The dollar value of a Participant's Account as of any day is the product of the number of Units in his Account at the close of business on that day and the Unit Value for that day. A Participant has a non-forfeitable interest in his Account. The Account is subject to charges described later.