Segment Start Date definition
Examples of Segment Start Date in a sentence
We determine the Segment Interim Value of your investment in a Segment on each Business Day that falls between the Segment Start Date and Segment Maturity Date, based on the estimated value of financial instruments consistent with current market prices and representing our obligation to provide your Segment Maturity Value on the Segment Maturity Date.
If we suspend the offering of new Segments for a Segment Type, amounts invested in the Segment Type Holding Account for that Segment Type will remain in the Segment Type Holding Account until the next Segment Start Date that Segment Participation Requirements are met on or after the date, we lift the suspension or until you instruct us to transfer amounts out of the Segment Type Holding Account.
Any Segment Start Date and Segment Maturity Date falling on an unscheduled Segment close day will be changed to the next Business Day.
The Segment Start Date and/or Segment Maturity Date will not change during a Segment Duration.
If the NY Stock Exchange has an unscheduled close day, such day will no longer be considered a Business Day for purposes of the Segment Start Date and Segment Maturity Date.
We reserve the right to change the Segment Start Date and/or Segment Maturity Date, to change the frequency with which we offer new Segments, to stop offering them, or to temporarily suspend offering new Segments.
Contributions and transfers allocated to a Segment are initially invested in the Segment Type Holding Account until the next available Segment Start Date for that Segment Type unless such allocation occurs on a Segment Transaction Date in which case amounts are directly allocated to a Segment, provided that all Segment Participation Requirements are met.
In addition to the report described above, we will send you a report for each new Segment to which Annuity Account Value was allocated showing the Segment Start Date, Segment Maturity Date and Performance Cap Rate.
If the New York Stock Exchange is open but an Index price is not published, and the Segment Start Date or Segment Maturity Date falls on that day, we will use the last available Bloomberg closing price for the respective Index as the Index value on the Segment Start Date or Segment Maturity Date, as applicable.
The “Cap Calculation Factor” refunds the portion of the estimated annual expenses that we used in calculating the Performance Cap Rate at the Segment Start Date but has not been fully incurred due to the partial period.