Common use of The Accumulation Value Clause in Contracts

The Accumulation Value. On the Contract Date, the Accumulation Value of this Contract equals the Single Premium paid less any premium tax, if applicable. At the end of each day thereafter, the Accumulation Value for this Contract will equal: (1) the Accumulation Value as of the end of the preceding day, plus (2) the interest, if any, pursuant to the Guarantee Period Interest Rate to be credited from the end of the previous day to the end of the current day, minus (3) the amount of any Withdrawals or Surrender, adjusted for any applicable Market Value Adjustment as set forth in Section 5.4 and less any applicable Surrender Charge as set forth in Section 5.5, at the end of the current day on which the Withdrawal is taken or a Surrender occurs.