Systematic Payment Clause Samples

Systematic Payment. Upon receipt by the Custodian of each Planholder payment, (including the initial payment) the Custodian shall: a. Stamp and record the date of its receipt of the payment; b. Forward for collection the payment check; c. Deduct from the payment the amount, if any, of any original issue, stock transfer or other taxes, if applicable, and apply the appropriate amounts to the purchase of the necessary documentary stamps or to payments to the proper taxing authorities; d. Deduct from the payment applicable fees of the Sponsor, dealers of record and the Custodian as set forth in the attached schedules, and the Prospectus, and credit such deductions to the Sponsor, dealers of record or the Custodian as the case may be; e. Apply the balance of the payment to the purchase of Fund Shares as provided in paragraph II(C)(1) below; f. Prepare and mail to the Planholder a confirmation of purchase of Fund Shares in a form approved by the Sponsor, substantially in the form attached hereto in Schedule C, which shall conform to Rule 10b-10 of the 1934 Act (or any successor rule) showing the Plan account number, amount of the payment received, date of receipt, the amount and nature of authorized deductions, the price paid per Fund Share, the number of such Fund Shares purchased after the deductions, the total number of Fund Shares then held by the Custodian for the Planholder, and the due date of the Planholder's next payment. Confirmation of the purchase of Fund Shares shall be mailed promptly by the Custodian to the Planholder, and to the Planholder's dealer; g. In the event that any check or other order for the payment of money is returned unpaid for any reason, the Custodian shall, in the absence of other instructions from the Sponsor, take such steps as may be necessary to cancel promptly any shares purchased on the basis of such returned check and shall cancel accumulated dividends for such account. The Custodian shall notify the Planholder of the cancellation of the purchase and return the check to the Planholder; and h. Any notices, if generated by Custodian automatically, relating to missed payments by Planholders shall be collected and delivered to the Sponsor on a monthly basis.
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Systematic Payment. Pre-Authorized Check Payments Program. . . . . . . . . . . . . . . . . . . . . . . . . . .
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Related to Systematic Payment

  • Automatic Payments You can agree with a seller who accepts PayPal to use PayPal as the payment method for future purchases with that seller. This agreement is between you and the seller and allows you to pay the seller on a one-time, regular or sporadic basis. Depending on the seller you wish to pay, you might also be able to directly instruct PayPal to make future payments to the seller on your behalf on a one-time, regular or sporadic basis. Examples of automatic payments that can be arranged by you either with a seller or with PayPal include those that PayPal calls a “billing agreement,” "subscription," "recurring payment,” “reference transaction,” "preauthorised transfer" or "preapproved payment." You authorise and instruct PayPal to pay the third party (or another person they direct) amounts from your payment method for the amounts you agree to owe and as presented to PayPal by that third party. You may cancel an automatic payment up to 3 business days before the date of the next scheduled payment from your account settings or by contacting us. Once you contact PayPal to cancel an automatic payment, all future automatic payments under your agreement with that seller will be stopped. If you cancel an automatic payment, you may still owe the seller money for the purchase or have additional obligations to the seller for any goods or services that you receive but have not paid for. If you have authorised an automatic payment and PayPal performs currency conversion for an automatic payment transaction, PayPal will use the transaction exchange rate (including PayPal's currency conversion fee) in effect at the time the automatic payment transaction is processed.

  • Distributions on Account of Separation from Service If and to the extent required to comply with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of the Executive’s employment shall be made unless and until the Executive incurs a “separation from service” within the meaning of Section 409A.

  • Lump Sum Payment If an individual JOC Task Order is scheduled for Completion within forty-five (45) days or less, the County will make one payment after thirty (30) days of Work to the Contractor, exclusive of retention. Contractor may request for one payment (including retention payment); however, payment will be made after Final Acceptance of the JOC Task Order.

  • Lump Sum Severance Payment Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.

  • Death During Distribution of a Benefit If the Executive dies after any benefit distributions have commenced under this Agreement but before receiving all such distributions, the Bank shall distribute to the Beneficiary the remaining benefits at the same time and in the same amounts they would have been distributed to the Executive had the Executive survived.