Common use of Administration for Exclusive Benefit of Designated Beneficiary Clause in Contracts

Administration for Exclusive Benefit of Designated Beneficiary. Each trust account shall be held for the exclusive benefit of the Designated Beneficiary of that trust account during his or her lifetime, and during his or her lifetime, the Trustees shall not use assets in a trust account for the benefit of other trust Beneficiaries or at any time for any purposes not set forth in this Trust Agreement.

Administration for Exclusive Benefit of Designated Beneficiary. Each trust account Trust Account shall be held for the exclusive benefit of the Designated Beneficiary of that trust account Trust Account during his or her lifetime, and during his or her lifetime, the Trustees shall not use assets in a trust account Trust Account for the benefit of other trust Beneficiaries beneficiaries or at any time for any purposes not set forth in this Trust Agreement. The interest of the remainderman is subordinate to those of the Designated Beneficiary during his or her lifetime.

Administration for Exclusive Benefit of Designated Beneficiary. Each trust account Trust Account shall be held for the exclusive benefit of the Designated Beneficiary of that trust account Trust Account during his or her lifetime, and during his or her lifetime, the . The Trustees shall not use assets in a trust account Trust Account for the benefit of other trust Beneficiaries beneficiaries or at any time for any purposes not set forth in this Trust Agreement. The Remainderman shall have no present interest in the Trust Account until the death of the Designated Beneficiary.