CONTRACT-HOLDER AS PAYEE - PRUDENTIAL AS AGENT Sample Clauses

CONTRACT-HOLDER AS PAYEE - PRUDENTIAL AS AGENT. Every payment with respect to any annuity will be paid to the Contract-Holder. The Contract-Holder will notify Prudential forthwith of the death of any Annuitant and Contingent Annuitant. The Contract-Holder will reimburse Prudential for any payments made by Prudential which are in excess of those provided by the annuity for the Annuitant. However, the Contract-Holder may request Prudential to act as its agent for the purpose of making payments to Annuitants, Contingent Annuitants, and their beneficiaries. If Prudential assents to the request, it will make payments to the persons rather than to the Contract-Holder. The Contract-Holder may terminate this agency relationship at any time upon 45 days' advance notice to Prudential. Thereafter payments will be made to the Contract-Holder. GVA/GAA-1010/7211-82 Serial 410 (as modified by Forms GAA-7471A/7471) 4.5 9/84 Provision V. CHANGES:
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CONTRACT-HOLDER AS PAYEE - PRUDENTIAL AS AGENT. Every payment with respect to any annuity will be paid to the Contract-Holder. The Contract-Holder will notify Prudential forthwith of the death of any Annuitant and Contingent Annuitant. The Contract-Holder will reimburse Prudential for any payments made by Prudential which are in excess of those provided by the annuity for the Annuitant.

Related to CONTRACT-HOLDER AS PAYEE - PRUDENTIAL AS AGENT

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  • Appointment of USBFS as Transfer Agent The Trust hereby appoints USBFS as transfer agent of the Trust on the terms and conditions set forth in this Agreement, and USBFS hereby accepts such appointment and agrees to perform the services and duties set forth in this Agreement. The services and duties of USBFS shall be confined to those matters expressly set forth herein, and no implied duties are assumed by or may be asserted against USBFS hereunder.

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  • Conditions Precedent to All Purchases and Reinvestments Each purchase (including the initial purchase) and each reinvestment shall be subject to the further conditions precedent that:

  • Termination and Replacement of Financial Institution The Financial Institution may terminate its rights and obligations under this Agreement if the Secured Party resigns or is removed as Indenture Trustee under the Indenture. The Grantor may terminate the rights and obligations of the Financial Institution if the Financial Institution ceases to be a Qualified Institution. No termination of the Financial Institution will be effective until new Collateral Accounts are established with, and the cash and other financial assets credited to the Collateral Accounts are transferred to, another securities intermediary who has agreed to accept the obligations of the Financial Institution under this Agreement or a similar agreement.

  • Resignation as L/C Issuer after Assignment Notwithstanding anything to the contrary contained herein, if at any time Bank of America assigns all of its Commitment and Loans pursuant to subsection (b) above, Bank of America may, upon 30 days’ notice to the Borrower and the Lenders, resign as L/C Issuer. In the event of any such resignation as L/C Issuer, the Borrower shall be entitled to appoint from among the Lenders a successor L/C Issuer hereunder; provided, however, that no failure by the Borrower to appoint any such successor shall affect the resignation of Bank of America as L/C Issuer. If Bank of America resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)). Upon the appointment of a successor L/C Issuer, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer, and (b) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to Bank of America to effectively assume the obligations of Bank of America with respect to such Letters of Credit.

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  • Trustee Responsibility Regarding Payments to Trust Beneficiary When Company Is Insolvent (a) Trustee shall cease payment of benefits to Plan participants and their beneficiaries if the Company is Insolvent. Company shall be considered "Insolvent" for purposes of this Trust Agreement if (i) Company is unable to pay its debts as they become due, or (ii) Company is subject to a pending proceeding as a debtor under the United States Bankruptcy Code.

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