Payment Limits definition
Payment Limits. Provision Maximum Purchase Payments -- The maximum total contract purchase payments may not exceed the amounts shown under Contract Data. We reserve the right to increase the maximums. Additional Purchase Payments -- You may make additional purchase payments of at least $100. In addition, if this is an IRA contract, except as otherwise provided in this paragraph, the total purchase payments for any taxable year may not exceed $2,000 or as otherwise provided in the Code and all related laws and regulations which are in effect during the term of this contract. In the case of a rollover contribution described in Sections 402(c), 403(a)(4), 403(b)(8) or 408(d)(3) of the Code, there is no limit on the amount of your purchase payment. No contribution will be accepted under a SIMPLE plan established by any employer pursuant to Code Section 408(p). No transfer or rollover of funds attributable to contributions made by a particular employer under its SIMPLE plan will be accepted from a SIMPLE IRA prior to the expiration of the two-year period beginning on the date the individual first participated in that employer's SIMPLE plan. You shall have the sole responsibility for determining whether purchase payments meet applicable income tax requirements. All purchase payments must be made in cash. If you die before the entire interest in this contract has been distributed to you, and your beneficiary is other than your surviving spouse, no additional purchase payments will be accepted from your beneficiary under this contract. Allocation of Purchase Payments You instruct us on how you want your purchase payments allocated among the fixed account and variable subaccounts. Your choice for the fixed account and each variable subaccount may be made in any whole percent from 0% to 100%. Your allocation instructions as of the contract date are shown under Contract Data. We reserve the right to limit the maximum number of accounts and/or subaccounts to which you can allocate purchase payments or contract value at any time. By written request, or by another method agreed to by us, you may change your choice of accounts or percentages. The first net purchase payment will be allocated as of the end of the valuation period during which we make an affirmative decision to issue this contract. Net purchase payments after the first will be allocated as of the end of the valuation period during which we receive the payment at our administrative office. Contract Value Contract Value The ...
Payment Limits. Provision Maximum Purchase Payments - The maximum total contract purchase payments may not exceed the amounts shown under Contract Data. We reserve the right to increase the maximums. Additional Purchase Payments - You may make additional purchase payments of at least $500. All purchase payments must be made in cash. If you die before the entire interest in this contract has been distributed to you, and your beneficiary is other than your surviving spouse, no additional purchase payments will be accepted from your beneficiary under this contract. Allocation of Purchase Payments You instruct us on how you want your purchase payments allocated among the fixed account and variable subaccounts. Your choice for the fixed account and each variable subaccount may be made in any whole percent from 0% to 100%. No allocation may be made that would result in a fixed account or variable subaccount value of less than $500. Your allocation instructions as of the contract date are shown under Contract Data. By written request, or by another method agreed to by us, you may change your choice of accounts or percentages. Net purchase payments will be allocated as of the end of the valuation period during which we receive the payment at our home office.
Payment Limits means maximum sums which can be transferred from Bank Products by the Client on the basis of Payment Order by means of Internet Banking and/or Phone Banking and/or Payment Initiation Service during the determined period of time.
Examples of Payment Limits in a sentence
If Payments will be paid from different sources, we will accept multiple Payments subject to the Payment Limits identified in the Specifications Page.
Payment Limits The Initial Payment is shown on the Specifications Pages.
Subject to the Payment Limits Provision you may: (1) stop and/or restart purchase payments; or (2) increase or decrease the amount of your purchase payments; or (3) change the interval of your purchase payments.
Payments made through People Pay are subject to the following criteria and limitations: Account-to- Account Transfer Recipient’s bank routing/transit and account numbers $500 $1000 Real-time, when Payment is authorized PayPal Recipient’s e-mail address or mobile telephone number $500 $1000 Real-time, when Payment is authorized Recipient Chooses Recipient’s e-mail address or mobile telephone number $500 $1000 Real-time, when Recipient claims Payment Limits disclosed are standard limits.
Payments made through People Pay are subject to the following criteria and limitations: Account-to- Account Transfer Recipient’s bank routing/transit and account numbers $500 $1000 Real-time, when Payment is authorized Recipient Chooses Recipient’s e-mail address or mobile telephone number $500 $1000 Real-time, when Recipient claims Payment Limits disclosed are standard limits.
Annual Purchase Payment Limits: The total of all Purchase Payments made into this Contract in the first Contract Year may not exceed [$20,000,000].
You can view any sending limit on our Personal Profile Payment Limits page (which includes limits for Teen Accounts), our Business Profile Payment and Transfer Limits page, and our Charity Profiles Payment and Transfer Limits page, as applicable.
Payment Limits Provision Maximum Purchase Payments - The maximum purchase payments in the first or later contract years may not exceed the amounts shown under Contract Data.
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Teen Accounts are subject to the terms and conditions of this agreement and all limitations (including as provided on the Personal Profile Payment Limits page).
More Definitions of Payment Limits
Payment Limits. Provision Maximum Purchase Payments -- The maximum total contract purchase payments may not exceed the amounts shown under Contract Data. We reserve the right to increase the maximums. Additional Purchase Payments -- You may make additional purchase payments of at least the amount shown under Contract Data. Allocation of Purchase Payments In most cases, you request, in whole percentages from 0% to 100%, how you want your purchase payments allocated among the Guarantee Period Accounts and variable subaccounts. We reserve the right to limit the accounts and/or subaccounts to which you can allocate purchase payments or contract value at any time. In addition, allocations to certain accounts or subaccounts may be limited or required under the terms of certain optional benefit riders, if any, attached to this contract. Your allocations as of the contract date are shown under Contract Data. Unless any restrictions apply, you may, by written request, or other method agreed to by us, change your choice of accounts or percentages. The first purchase payment will be allocated as of the end of the valuation period during which we make an affirmative decision to issue this contract. Purchase payments after the first will be allocated as of the end of the valuation period during which we receive the payment at our administrative office. Purchase Payment Credits If shown under Contract Data, we may apply an additional purchase payment credit to your contract value for applicable net purchase payments you make to this contract. The purchase payment credit is a percentage of such net purchase payment which is the purchase payment less the amount of partial withdrawals that exceed all prior purchase payments. The percentage depends on the amount of cumulative purchase payments under the contract less partial withdrawals as shown under Contract Data. If an additional purchase payment causes the contract as a whole to be eligible for a greater percentage credit, an additional credit on prior purchase payments, less any partial withdrawals, will be allocated on the date of the additional purchase payment. Such additional credit is calculated to bring the credit percentage on all prior net purchase payments to the current level. Purchase payment credits will be allocated to the contract value according to your then-existing purchase payment allocation instructions. Any partial withdrawal reduces the cumulative net purchase payments used as the basis of the credits on a last-in...
Payment Limits. Provision Maximum Purchase Payments - The maximum purchase payments in the first or later contract years may not exceed the amounts shown under Contract Data. Additional Purchase Payments -- You may make additional purchase payments of at least the amount shown under Contract Data. Allocation of Purchase Payments In most cases, you request, in whole percentages from 0% to 100%, how you want your purchase payments allocated among the Fixed Account and variable subaccounts. The amount of your purchase payments you may allocate to the Fixed Account is limited as shown under Contract Data. We reserve the right to decrease the allowable Fixed Account Purchase Payment percentage limits from those shown under Contract Data. We will provide 30 days advance written notification if we do so, and will notify you in writing when the restrictions are lifted. Allocations to certain accounts or subaccounts may be limited or required under the terms of certain optional benefit riders, if any, attached to this contract. Your allocations as of the contract date are shown under Contract Data. Unless any restrictions apply, you may, by written request, or other method agreed to by us, change your choice of accounts or percentages. The first net purchase payment will be allocated as of the end of the valuation period during which we make an affirmative decision to issue this contract. Net purchase payments after the first will be allocated as of the end of the valuation period during which we receive the payment at our home office.
Payment Limits. For security reasons, there are limits on the amount of money you can send through the U.S. Bank Pay A Person service. You will be notified of the limits in effect in the user interface at the time you initiate a transaction. These limits may change based on periodic risk assessments. The amount of money available to you each day will be reduced based on transactions initiated over the last seven days. Transactions from the previous week will roll-off increasing your availability on the U.S. Bank Pay A Person service. Sufficient Funds – You agree to maintain sufficient funds in your Transaction Account to cover the amount of any payments you request through the U.S. Bank Pay A Person service and any fees, as applicable. We have the right to suspend service for future transactions if you do not maintain sufficient funds in your Transaction Account. Acceptable Use – You agree that you are independently responsible for complying with all applicable laws in all of your activities related to your use of the U.S. Bank Pay A Person service, regardless of the purpose of the use, and for all communications you send through the U.S. Bank Pay A Person service. We and other Service Providers have the right but not the obligation to monitor and remove communications content that we find in our sole discretion to be objectionable in any way. Prohibited Use – You are prohibited from using the U.S. Bank Pay A Person service for communications or activities that: Prohibited Payments – You agree to not use the U.S. Bank Pay A Person service for any of the following payments which are prohibited. We have the right but not the obligation to monitor for, block and/or reverse such payments.
Payment Limits. Provision Minimum Purchase Payments - The minimum initial purchase payment for certificates is $2,000 (for non-qualified) or $1,000 (for IRA, SEP/IRA unless the certificateholder agrees to establish a bank authorization for at least $100 per month which on an annualized basis, equals $1,200. Maximum Purchase Payments - The maximum total purchase payments for a certificate in the first certificate year is $1,000,000 for ages up to Age 75 or $500,000 for ages 76-85. The Maximum purchase payment in the second or later certificate years is $50,000 per year. Additional Purchase Payments - The owner may make additional purchase payments of at least $100 per month. IRA certificate purchase payments must be: - Active IRA contributions. Active IRA contributions are described in Code Sections 408(b)(2) and 219 and generally may not exceed $2,000 for any taxable year except for the permissible $2,250 contribution of an individual with a non- working spouse; or - Rollover or transfer IRA contributions of accumulated past active IRA contributions. Rollover IRA contributions are described in Code Section 408(d)(3); or
Payment Limits. Provision Maximum Purchase Payments - The maximum total contract purchase payments may not exceed the amounts shown under Contract Data. We reserve the right to increase the maximums. Additional Purchase Payments - You may make additional purchase payments of at least $50. In addition, if this is an ▇▇▇ contract, except as otherwise provided in this paragraph, the total purchase payments for any taxable year may not exceed $2,000 or as otherwise provided in the Code and all related laws and regulations which are in effect during the term of this contract. In the case of a rollover contribution described in Sections 402(c), 403(a)(4), 403(b)(8), or, 408(d)(3) of the Code, there is no limit on the amount of your purchase payment. All purchase payments must be made in cash. If you die before the entire interest in this contract has been distributed to you, and your beneficiary is other than your surviving spouse, no additional purchase payments will be accepted from your beneficiary under this contract. Cancellation We reserve the right to cancel this contract if all the following conditions exist at the same time: