AGGREGATE PURCHASE PAYMENT LIMIT definition

AGGREGATE PURCHASE PAYMENT LIMIT. The total of all Purchase Payments made into this Contract may not exceed [$20,000,000]. Purchase Payments of greater value may be allowed with our prior approval.
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AGGREGATE PURCHASE PAYMENT LIMIT. The total of all Purchase Payments (net of Purchase Payments withdrawn) made into this Contract may not exceed $7,000,000. Purchase Payments of greater value may be allowed with our prior approval.
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AGGREGATE PURCHASE PAYMENT LIMIT. The total of all Purchase Payments (net of Purchase Payments withdrawn) made into this Contract may not exceed $7,000,000. Purchase Payments of greater value may be allowed with our prior approval. BENEFICIARY:
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Examples of AGGREGATE PURCHASE PAYMENT LIMIT in a sentence

  • AGGREGATE PURCHASE PAYMENT LIMIT: The total of all Purchase Payments (net of Purchase Payments withdrawn) made into this Contract may not exceed $7,000,000.

  • AGGREGATE PURCHASE PAYMENT LIMIT: The total of all Purchase Payments made into this Contract may not exceed $20,000,000.

  • AGGREGATE PURCHASE PAYMENT LIMIT: The total of all Purchase Payments made into this Contract may not exceed $10,000,000.

  • AGGREGATE PURCHASE PAYMENT LIMIT: The total of all Purchase Payments made into this Contract may not exceed [$10,000,000].


More Definitions of AGGREGATE PURCHASE PAYMENT LIMIT

AGGREGATE PURCHASE PAYMENT LIMIT. The total of all Purchase Payments (net of Purchase Payments withdrawn) made into this Contract may not exceed $7,000,000. Purchase Payments of greater value may be allowed with our prior approval. CREDIT PAYMENT: 4% of Initial Purchase Payment. CREDIT VESTING SCHEDULE: Number of Contract Anniversaries Vested Percentage Since Date of Each Purchase Payment 0 0% 1 10% 2 20% 3 30% 4 40% 5 50% 6 60% 7 100% BENEFICIARY:
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AGGREGATE PURCHASE PAYMENT LIMIT. The total of all Purchase Payments (net of Purchase Payments withdrawn) made into this Contract may not exceed $7,000,000. Purchase Payments of greater value may be allowed with our prior approval. CREDIT PAYMENT: The credit that we pay with respect to any Purchase Payment depends on (i) the age of the sole or older of the Owner or Joint Owner on the date on which the Purchase Payment is made and (ii) the amount of the Purchase Payment. Specifically, - If the sole Owner or the older of the Owner or Joint Owner is age 80 or younger on the date that the Purchase Payment is made, then we will add a Credit to the Purchase Payment as follows: 4% if the Purchase Payment is less than $250,000 or 5% if the Purchase Payment is greater than or equal to $250,000, but less than $1,000,000; and 6% if the Purchase Payment is greater than or equal to $1,000,000. - If the sole Owner or the older of the Owner or Joint Owner is age 81 or more at the time that the Purchase Payment is made, then we will add a Credit equal to 3% of the Purchase Payment. THE INSURANCE CHARGE WILL BE 0.10% LESS AND THE WITHDRAWAL CHARGE SCHEDULE WILL BE LESS (7%, 6%, 5%, 4%, 3%, 2%, 1%) IF THE CONTRACT DID NOT CONTAIN THE CREDIT.
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AGGREGATE PURCHASE PAYMENT LIMIT. The total of all Purchase Payments (net of Purchase Payments withdrawn) made into this Contract may not exceed $7,000,000. Purchase Payments of greater value may be allowed with our prior approval. BENEFICIARY: [Mary Doe, spouse] CONTRACT MAINTENANCE CHARGE: If your Contract ▇▇▇▇▇ ▇▇ less than $100,000, we will charge a Contract Maintenance Charge of the lesser of 2% of the Contract Value or $30. This charge is deducted on the Contract Anniversary and when a surrender of the Contract occurs, if the Contract Value at the time is then less than $100,000. The Contract Maintenance Charge will be deducted on a pro-rata basis from all Allocation Options to which your Contract Value is allocated. We reserve the right to raise the Contract Value amount over which we will waive the Contract Maintenance Charge. INSURANCE CHARGE: This charge depends on whether you have elected the Guaranteed Minimum Death Benefit ("GMDB") feature. This charge is deducted daily from the assets in each of the Subaccounts. If you do not elect the GMDB feature, your death benefit is equal to the base death benefit as described in the Death Benefit section of the contract. [ ] You have not elected the GMDB feature. Therefore, the daily rate is 0.00434896%, which is equivalent to an annual rate of 1.60%. [ ] You have elected the GMDB feature with the Step-Up option. Therefore, the daily rate is 0.00488777%, which is equivalent to an annual rate of 1.80%. We reserve the right to increase the Insurance Charge for the GMDB feature up to .10% for applicants age 76 or more on the date the application is signed. ALLOCATION OPTIONS:
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AGGREGATE PURCHASE PAYMENT LIMIT. The total of all Purchase Payments made into this Contract may not exceed [$20,000,000]. Purchase Payments of greater value may be allowed with our prior approval. CREDIT PAYMENT: 3 [4%] of Initial Purchase Payment. CREDIT VESTING SCHEDULE: Number of Contract Anniversaries Since Date of Each Purchase Payment Vested Percentage 7 0% 10% 20% 4 30% 40% 50% 60% 70% 80% 100%] BENEFICIARY: As designated by Owner at Contract Date unless changed in accordance with the Contract provisions.
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Related to AGGREGATE PURCHASE PAYMENT LIMIT

  • Aggregate Purchase Price has the meaning set forth in Section 1.1.

  • Administrative Purchase Payment means, with respect to a Payment Date and to an Administrative Receivable purchased by the Seller or the Servicer as of the end of the related Collection Period, the sum of (a) the unpaid principal balance owed by the related Obligor in respect of such Receivable and (b) interest on such unpaid principal balance at a rate equal to the APR of the related Receivable from the date of last payment by such Obligor to the last day of such Collection Period.

  • Repurchase Payment for any Repurchased Receivable as of the last day of any Collection Period, means the sum of the Principal Balance thereof as of the beginning of such Collection Period plus interest accrued thereon through the due date for the Obligor’s payment in such Collection Period at the related APR, after giving effect to the receipt of monies collected on such Repurchased Receivable, if any, during such Collection Period.

  • PURCHASE PAYMENTS [We reserve the right to reject any Purchase Payment.] Minimum Subsequent Purchase Payment: [$500 for both Non-Qualified and Qualified, unless you have elected an automatic sweep program.]

  • Aggregate Payments means, with respect to a Contributing Guarantor as of any date of determination, an amount equal to (1) the aggregate amount of all payments and distributions made on or before such date by such Contributing Guarantor in respect of this Guaranty (including in respect of this Section 7.2), minus (2) the aggregate amount of all payments received on or before such date by such Contributing Guarantor from the other Contributing Guarantors as contributions under this Section 7.2. The amounts payable as contributions hereunder shall be determined as of the date on which the related payment or distribution is made by the applicable Funding Guarantor. The allocation among Contributing Guarantors of their obligations as set forth in this Section 7.2 shall not be construed in any way to limit the liability of any Contributing Guarantor hereunder. Each Guarantor is a third party beneficiary to the contribution agreement set forth in this Section 7.2.