Prior to the Annuity Commencement Date Clause Samples

The "Prior to the Annuity Commencement Date" clause defines the rules and conditions that apply to an annuity contract before the date when annuity payments are scheduled to begin. Typically, this clause outlines what actions the policyholder can take during this period, such as making additional contributions, changing beneficiaries, or surrendering the contract for its cash value. Its core practical function is to clarify the rights and options available to the contract owner before the annuity enters its payout phase, ensuring both parties understand what is permitted and how the contract may be managed during this initial stage.
Prior to the Annuity Commencement Date. The Owner may name only one Annuitant. If the Owner is a tax-exempt entity, the Owner may name one Annuitant or two Joint Annuitants. If the Owner is a natural person, the Owner has the right to change the Annuitant at any time by sending Notice of change to LNY at its Servicing Office; once received by LNY, the change will be effective as of the date the request was sent. For purposes of determining on which date a written change of Annuitant is sent, the postmark date will be used. If the Owner is a non-natural person, the Annuitant may not be changed. The new Annuitant must be under the age of 90 as of the effective date of the change. Change of Annuitant may affect the Death Benefit (refer to Article 7, Death Benefits). A Contingent Annuitant may be named, or changed upon receipt of Notice by LNY. On or After the Annuity Commencement Date. The Annuitant or Joint Annuitants may not be changed. Any Contingent Annuitant designation is no longer applicable and is terminated.
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Prior to the Annuity Commencement Date. The Owner may name only one Annuitant. If the Owner is a tax-exempt entity, the Owner may name one Annuitant or two Joint Annuitants. If the Owner is a natural person, the Owner has the right to change the Annuitant at any time by sending Notice of change to LNY at its Servicing Office; once received by LNY, the change will be effectiveas of the date the request was sent. For purposes of determining on whichdate a written change of Annuitant is sent, the postmark date will be used. If the Owner is a non-natural person, the Annuitant may not be changed. The new Annuitant must be under the age of 86 as of the effective date of the change. Change of Annuitant may affect the Death Benefit (refer to Article 7, Death Benefits). A Contingent Annuitant may be named, or changed upon receipt of Notice by LNY. ON OR AFTER THE ANNUITY COMMENCEMENT DATE. The Annuitant or Joint Annuitants may not be changed. Any Contingent Annuitant designation is no longer applicable and is terminated.
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Prior to the Annuity Commencement Date. The Owner may name only one Annuitant. If the Owner is a tax-exempt entity, the Owner may name one Annuitant or two Joint Annuitants. If the Owner is a natural person, the Owner has the right to change the Annuitant at any time by sending Notice of change to LNL. If the Owner is a non-natural person, the Annuitant may not be changed. The new Annuitant must be under the age of [91] as of the effective date of the change. Change of Annuitant may affect the Death Benefit (refer to Article 6, Death Benefit).
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Prior to the Annuity Commencement Date. The Owner may name only one Annuitant. If the Owner is a tax-exempt entity, the Owner may name one Annuitant or two Joint Annuitants. If the Owner is a natural person, the Owner has the right to change the Annuitant at any time by sending Notice of change to LNL. If the Owner is a non-natural person, the Annuitant may not be changed. The new Annuitant must be under the age of [91] as of the effective date of the change. Change of Annuitant may affect the Death Benefit (refer to Article 6, Death Benefit). A Contingent Annuitant may be named, or changed upon receipt of Notice by LNL. The Annuitant or Joint Annuitants may not be changed. Any Contingent Annuitant designation is no longer applicable and is terminated.
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Prior to the Annuity Commencement Date. The Owner may select a Death Benefit Option(s) to be effectiveas of the Contract Date. If no Death Benefit Option is selected, the Guarantee of Principal will be the Death Benefit effective as of the Contract Date. ANNUITY PAYMENT REQUIREMENTS: DETERMINATION OF THE FIRST ANNUITY PAYMENT DATE: For 100% Fixed Annuity Payment, the Annuity Payment Date must be atleast 30 days after the Annuity Commencement Date. If any portion of the annuity payment will be on a variable basis, the Annuity Payment Date will be 14 days after the Annuity Commencement value, Date. The Annuity Unit if applicable, and Contract Value used to effect annuity payments will Annuity be determined as of the Commencement Date. MINIMUM ANNUITY PAYMENT AMOUNT: $50 MINIMUM GUARANTEED INTEREST RATE FOR THE FIXED ANNUITY PAYMENT: 1.50% ASSUMED INVESTMENT RATE FOR THE VARIABLE ANNUITY PAYMENT: Between 3.0% - 5.0%
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Prior to the Annuity Commencement Date. Transfers cannot be made during the first 30 days following the Contract Date. We reserve the right to require a 30 day minimum time period between each transfer. MAXIMUM NUMBER OF TRANSFERS NOT SUBJECT TO A TRANSFER FEE: 12 per Contract Year, excluding automatic Dollar Cost Averaging transfers. Transfers in excess of 12 per Contract Year must be authorized by Us. Transfers to the Dollar Cost Averaging Fixed Account are not allowed.
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Prior to the Annuity Commencement Date. We assess a daily charge equal on an annual basis to the percentage shown of the average daily net asset value of each Variable Subaccount. The daily charge will not exceed the percentage shown. If, on the Contract Date, one of the below listed Death Benefit Option(s) has been selected, the Mortality and Expense Risk and Administrative Charge will be as indicated for the Death Benefit Option selected. Contract Value Death Benefit: Guarantee of Principal Death Benefit: Enhanced Guaranteed Minimum Death Benefit: 1.25% 1.30% 1.55% After the Contract Date, the Owner (or a spouse who continues the Contract as the Owner) may change at any time to a Death Benefit Option with a lower charge than the Death Benefit Option in effect, but may never change to a Death Benefit Option with a higher charge (see the Death Benefit Option charges above). If the Death Benefit Option is changed after the Contract Date, the charge will be effective as of the Valuation Date the Notice to change the Death Benefit Option is received at Our Servicing Office. MORTALITY AND EXPENSE RISK AND ADMINISTRATIVE CHARGE ON OR AFTER THE ANNUITY COMMENCEMENT DATE: 1.25% The daily charge will not exceed the percentage shown.
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Prior to the Annuity Commencement Date. If the Owner is a natural person, the Owner has the right to change the Annuitant at any time by notifying LNL in writing of the change. The new Annuitant must be under the age of 91 as of the effective date of the change. If the Owner is an exempt organization under Code Section 501(c), the Owner may name one Annuitant or two Joint Annuitants. A Contingent Annuitant may be named, or changed, by notifying LNL in writing. On or After the Annuity Commencement Date. The Annuitant or Joint Annuitants may not be changed. Any Contingent Annuitant designation is no longer applicable and is terminated.
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Prior to the Annuity Commencement Date. If the Owner is a natural person, the Owner has the right to change the Annuitant at any time by notifying LNL in writing of the change. A change in the Annuitant will terminate the Death Benefit as described in Section 6.01, unless such change is as the result of the death of the Annuitant. The new Annuitant must be under the age of 90 as of the effective date of the change. For such Contracts, the Owner may name a Contingent Annuitant by notifying LNL in writing. If the Owner is a corporation or other non-individual (non-natural person), the Owner may name one Annuitant or two Joint Annuitants. A Contingent Annuitant may be named by notifying LNL in writing. On or After the Annuity Commencement Date. The Annuitant or Joint Annuitants may not be changed. Any Contingent Annuitant designation is no longer applicable and is terminated.
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Related to Prior to the Annuity Commencement Date

  • Term Commencement Date For purposes of this Lease, the "Term Commencement Date" shall be defined as the earlier of (A) the first date on which Tenant occupies all or any part of the Premises for the conduct of business, or (B) fourteen (14) days after the date on which both of the following shall occur: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, (y) work to be undertaken by Landlord which does not materially impair Tenant's use of the Premises for the purposes allowed herein, and (z) finishes and exterior landscaping to the Property), and (ii) a certificate of occupancy has been (or is deemed to have been) issued with respect to the Premises (or the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work (including, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay, and the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by the Estimated Substantial Completion Date. Notwithstanding the foregoing, if Landlord fails to substantially complete Landlord's Work on or before the date which is sixty (60) days after the Estimated Substantial Completion Date due to Landlord's fault or neglect, then Tenant shall be entitled to a credit (offset) against Base Rent due and payable as of the Term Commencement Date in the amount of one (1) day of Base Rent for each day after the Estimated Substantial Completion Date that Landlord's Work shall not have been substantially completed.

  • Service Commencement Date The date the Transmission Provider begins to provide service pursuant to the terms of an executed Service Agreement, or the date the Transmission Provider begins to provide service in accordance with Section 15.3 or Section 29.1 under the Tariff.

  • Lease Commencement Date The earlier to occur of (i) the date upon which Tenant first commences to conduct business in the Premises, and (ii) the later to occur of (A) November 1, 2018 and (B) the date upon which the Premises are Ready for Occupancy (as that term is defined in Section 5.1 of the Tenant Work Letter attached hereto as Exhibit B (the “Tenant Work Letter”)).

  • Rent Commencement Date The "Rent Commencement Date" shall be the date that Tenant first uses the Premises or any portion thereof for any purpose permitted under this lease. In the event this lease pertains to a building or building interior finish to be constructed, the "Rent Commencement Date" shall be the date upon which the buildings and other improvements erected and to be erected upon the premises shall have been substantially completed in accordance with the plans and specifications described on Exhibit "C" attached hereto and incorporated herein by reference, provided however, that if Landlord shall be delayed in such substantial completion as a result of: (i) Tenant's failure to agree to plans, specifications, and cost estimates, within a reasonable period of time; (ii) Tenant's request for materials, finishes or installations other than Landlord's standard; (iii) Tenant's changes in plans; the commencement date and the payment of rent hereunder shall be accelerated by the number of days of such delay, and provided further that if Landlord cannot substantially complete the premises as a result of any events (i) through (iii) above, Landlord may as its election complete so much of Landlord's work as may be practical under the circumstances and, by written notice to Tenant, establish the commencement date as the date of such partial completion, subject to any applicable accelerations due to delays resulting from events (i) through (iii) above. Taking possession by Tenant shall be deemed conclusively to establish that said buildings and other improvements have been completed in accordance with the plans and specifications and that the premises are in good and satisfactory condition, as of when possession was so taken. Tenant acknowledges that no representations as to the repair of the premises have been made by Landlord, unless such are expressly set forth in the lease. After such "Rent Commencement Date" Tenant shall, upon demand, execute and deliver to Landlord a letter of acceptance of delivery of the premises. In the event of any dispute as to substantial completion of work performed, execute or required to be performed by Landlord, the certificate of Landlord's architect or general contractor shall be conclusive.

  • Commencement Date The Subcontractor shall be permitted to begin the Services on ______________________, 20____ (“Commencement Date”).