Common use of Correspondence of Benefits Clause in Contracts

Correspondence of Benefits. MPF undertakes subject to and in accordance with the provisions of the Policy to provide certain benefits to the Trustee in respect of the Scheme, with a view to insuring the Scheme against liabilities which may arise in connection with Retirement Benefits which may become payable by the Scheme under the Scheme Rules from time to time. The benefits shall (subject to Clause 2.4) correspond to the liabilities of the Trustee under the Scheme against which the Policy intends to secure the Trustee. The receipt of the Trustee for any monies paid under the Policy shall be a good and sufficient discharge to MPF and MPF shall have no obligations regarding the application of such monies. The Policy shall continue until surrendered or otherwise terminated in accordance with its terms.

Appears in 2 contracts

Samples: Contract of Linked Long Term Insurance, Contract of Linked Long Term Insurance

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Correspondence of Benefits. MPF undertakes subject to and in accordance with the provisions of the Policy to provide certain benefits to the Trustee in respect of the SchemeSchemes, with a view to insuring the Scheme Schemes against liabilities which may arise in connection with Retirement Benefits which may become payable by the Scheme Schemes under the Scheme Schemes’ Rules from time to time. The benefits shall (subject to Clause 2.4) correspond to the liabilities of the Trustee under the Scheme Schemes against which the Policy intends to secure the Trustee. The receipt of the Trustee for any monies paid under the Policy shall be a good and sufficient discharge to MPF and MPF shall have no obligations regarding the application of such monies. The Policy shall continue until surrendered or otherwise terminated in accordance with its terms.

Appears in 2 contracts

Samples: Contract of Linked Long Term Insurance, Contract of Linked Long Term Insurance

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