TRANSFER BETWEEN VARIABLE PAYMENT PLANS Clause Samples

TRANSFER BETWEEN VARIABLE PAYMENT PLANS. A payee or joint payees receiving payments under a variable payment plan may: - transfer Annuity Units from one Division to another. The number of Annuity Units in each Division will be adjusted to reflect the respective value of the Annuity Units in the Divisions on the date the transfer is effective. A Transfer Fee will be deducted from the amount transferred. The amount of the Transfer Fee is shown on page 4. Transfers from the Money Market Division may be made at any time. No transfer from the other Divisions may be made within 90 days of the effective date of the variable payment plan or within 90 days from the effective date of the last transfer. - transfer from an Installment Income Plan (Option B) to either form of the Life Income Plan (Option C or E). Other transfers may be permitted subject to conditions set by the Company. A transfer will be effective on the Valuation Date on which a satisfactory transfer request is received in the Home Office, or a later date if requested. However, the transfer will be effective on the following Valuation Date if the request is received at the Home Office either: - on a Valuation Date after the close of trading on the New York Stock Exchange; or - on a day on which the New York Stock Exchange is closed.
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TRANSFER BETWEEN VARIABLE PAYMENT PLANS. A payee or the joint payees receiving payments under this contract may: a. transfer Annuity Units from one Division to another, subject to any changes as the Company may determine. The number of Annuity Units in each Division will be adjusted to reflect the respective value of the Annuity Units in the Division. Transfers from the Money Market Division may be made at any time. No transfers from the other Divisions may be made within 90 days of the Contract Date or within 90 days from the effective date of the last transfer; or b. transfer from an Installment Income Plan (Option B) to either form of the Life Income Plan (Option C or E). Other transfers may be permitted subject to limitations and conditions as the Company may reasonably determine. The effective date of transfer will be the valuation date coincident with or next following the date on which a satisfactory transfer request is received at the Home Office, or a later date if requested.
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TRANSFER BETWEEN VARIABLE PAYMENT PLANS. A payee or the joint payees receiving payments under a variable payment plan provided in this contract may: a. transfer Annuity Units from one Division to another, subject to any charges as the Company may determine. The number of Annuity Units in each Division will be adjusted to reflect the respective value of the Annuity Units in the Divisions. Transfers from the Money Market Division may be made at any time. No transfer from the other Divisions may be made within 90 days of the effective date of a variable payment plan or within 90 days from the effective date of the last transfer. b. transfer from an Installment Income Plan (Option B) to either form of the Life Income Plan (Option C or E). Other transfers may be permitted subject to limitations and conditions as the Company may reasonably determine. The effective date of transfer will be the valuation date coincident with or next following the date on which a satisfactory transfer request is received at the Home Office, or at a later date if requested. LL V 1A, LL V 1B
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TRANSFER BETWEEN VARIABLE PAYMENT PLANS. An Annuitant or Joint Annuitant receiving payments under a variable payment plan may, on written request: • transfer Annuity Units from one Division to another. The number of Annuity Units to be credited will be adjusted to reflect the respective value of the Annuity Units in each of the Divisions. Any charges for the transfer will be determined by the Company and deducted from the value of the Annuity Units transferred. • transfer from the Installment Income Plan (Option B) to a Life Income Plan (Option C or E). • make other transfers allowed by the Company, subject to conditions set by the Company. The transfer will be made as of the close of business on the valuation date coincident with or next following the date on which the request for transfer is received at the Home Office or a later date, if requested. The Company reserves the right to establish waiting periods between transfers. MP V 1C
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Related to TRANSFER BETWEEN VARIABLE PAYMENT PLANS

  • Rollovers of Settlement Payments From Bankrupt Airlines If you are a qualified airline employee who has received a qualified airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court in a case filed after September 11, 2001, and before January 1, 2007, you are allowed to roll over any portion of the proceeds into your ▇▇▇▇ ▇▇▇ within 180 days after receipt of such amount, or by a later date if extended by federal law. For further detailed information and effective dates you may obtain IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at ▇▇▇.▇▇▇.▇▇▇.

  • Payment Upon Separation An employee or an employee's estate, will be paid for: 1) the number of days of annual leave, not exceeding 50 days or 400 hours that were accrued at the end of the previous calendar year and that remain unused; and 2) the number of days of annual leave that accrued during the calendar year in which the employee’s State employment terminates and that remain unused upon termination of state service at the time that the employee receives his/her pay check for the final period of work or the next pay period.

  • Mortgage Payments Received After Transfer Date The amount of any related Monthly Payments received by the Seller after the related Transfer Date shall be forwarded to the Purchaser by overnight mail within one (1) Business Day following the date of receipt. The Seller shall notify the Purchaser of the particulars of the payment, which notification requirement shall be satisfied if the Seller forwards with its payment sufficient information to permit appropriate processing of the payment by the Purchaser. The Seller shall assume full responsibility for the necessary and appropriate legal application of such Monthly Payments received by the Seller after the related Transfer Date with respect to related Mortgage Loans then in foreclosure or bankruptcy; provided, for purposes of this Agreement, necessary and appropriate legal application of such Monthly Payments shall include, but not be limited to, endorsement of a Monthly Payment to the Purchaser with the particulars of the payment such as the account number, dollar amount, date received and any special Mortgagor application instructions and the Seller shall comply with the foregoing requirements with respect to all Monthly Payments received by it after the related Transfer Date.

  • Origination; Payment Terms The Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, except with respect to a Mortgage Loan purchased from a correspondent as indicated on the Mortgage Loan Schedule. Principal payments on the Mortgage Loan commenced no more than seventy days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, in the case of an Adjustable Rate Mortgage Loan, the Lifetime Rate Cap and the Periodic Cap are as set forth on the related Mortgage Loan Schedule. Unless specified on the related Mortgage Loan Schedule as an interest-only loan or a Balloon Mortgage Loan, the Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization (or forty years for Mortgage Loans identified on the Mortgage Loan Schedule as a Balloon Mortgage Loan with a forty year amortization period). Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month and the Mortgage Loan does not require a balloon payment on its stated maturity date;

  • What Forms of Distribution Are Available from a ▇▇▇▇▇▇▇▇▇ Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.