Alternate Disposition Clause Samples
The Alternate Disposition clause defines what happens to property, assets, or interests if the original intended recipient is unable or unwilling to accept them. Typically, this clause specifies a backup beneficiary or an alternative method for distributing the asset, such as passing it to another named individual or entity if the primary beneficiary predeceases the grantor or disclaims the gift. Its core practical function is to ensure that the disposition of assets is clear and effective even if the original plan cannot be carried out, thereby preventing uncertainty or disputes over the distribution.
Alternate Disposition. If the trust hereinabove referred to in Paragraph 1.B. of this Will is not in effect at my death, or if for any other reason the gift to said trust (as ▇▇▇▇▇▇▇▇▇▇▇ set forth) cannot be accomplished, I specifically and completely incorporate the terms of said trust into this Will by reference. In such a situation, I direct my Personal Representative to establish a trust in accordance with the provisions of said trust and give the remainder of my estate, excluding any property over which I might have a power of appointment, to the Trustee of such trust.
Alternate Disposition. If an Attainable Unit is not under contract for sale within 120 days from the date the unit is first listed by the current owner with the Multiple Listing Service or similar real estate listing service, the Deed Restriction for that unit will terminate. If the Attainable Unit is sold without the Maximum Resale Price requirements, the difference between the Maximum Resale Price and the unrestricted market rate purchase price shall be paid to the City of Flagstaff for down payment assistance or comparable direct assistance for up to 125% AMI homebuyers.
Alternate Disposition. Costs Notwithstanding the preceding ----------------------------- calculation, if Exxon sells or otherwise disposes of the Exxon Equity Propane -- and Exxon Equity Butane which would have been included as part of the deficit volume, then the Purchase Deficiency Fee shall be calculated as follows: the deficit volume shall be determined as set forth in Section 6.9(a); such deficit volume shall be multiplied by an amount equal to the positive difference, if any, between the Product Price and the actual amount received by Exxon for the sale of the Exxon Equity Propane and Exxon Equity Butane. In addition, POC shall reimburse Exxon all costs of such disposition, including without limitation, the cost of transporting the Exxon Equity Propane and Butane to an equivalent market. Exxon will use good faith efforts to minimize such alternate disposition costs.