Common use of Death Claims Clause in Contracts

Death Claims. A. When the survivor of the Husband and Wife dies, the Company shall be entitled to receive a portion of the death benefits provided under the Policy; provided, however, that a Vesting Event shall not have occurred prior to such death, in which event the Company shall not receive any part or all of the death benefits provided under the Policy. The amount to which the Company shall be entitled shall be the Net Payment Amount less any repayments made by the Epstxxx Xxxily Trust to the Company prior to the death of the survivor of the Husband and Wife; provided, however, that upon receipt of such amount by the Company, the Company shall release the collateral assignment of the Policy made by the Epstxxx Xxxily Trust to the Company pursuant to ARTICLE 6 of this Agreement. The receipt of such amount by the Company shall constitute satisfaction of the Epstxxx Xxxily Trust's obligation under Section A of ARTICLE 5 of this Agreement. To the extent, if any, the death benefits under the Policy are insufficient to pay in full the Net Payment Amount less any repayments made by the Epstxxx Xxxily Trust to the Company prior to the death of the survivor of the Husband and Wife, the Epstxxx Xxxily Trust shall be liable to the Company for the amount of such insufficiency. B. When the survivor of the Husband and Wife dies, the beneficiary or beneficiaries named by the Epstxxx Xxxily Trust (or by its assignees) shall be entitled to receive the amount, if any, of the death benefits provided under the Policy in excess of the amount, if any, payable to the Company under Section A of this ARTICLE 8. Such amount shall be paid under the settlement option elected by the Epstxxx Xxxily Trust (or by its assignees). C. If any interest is due upon the death benefits provided under the Policy, the Company and the beneficiary or beneficiaries named by the Epstxxx Xxxily Trust (or by its assignees) shall share such interest in the same proportions as their respective shares of such death benefits (as provided in Sections A and B, respectively, of this ARTICLE 8) shall bear to the total death benefits provided under the Policy excluding such interest. D. If, upon the death of the survivor of the Husband and Wife, there is a refund of unearned premium under the Policy, then any such refund shall be divided between the Company (provided, however, that a Vesting Event shall not have occurred prior to such death, in which event the Company shall not receive any part or all of such refund under the Policy) and the beneficiary or beneficiaries named by the Epstxxx Xxxily Trust (or by its assignees) in the same proportions as their respective shares of the last premium payment made by the Company and the Epstxxx Xxxily Trust, respectively.

Death Claims. A. When the survivor of the Husband and Wife Grantor dies, the Company shall be entitled to receive a portion of the death benefits provided under the Policy; provided, however, that a Vesting Event shall not have occurred prior to such deaththe death of the Grantor, in which event the Company shall not receive any part or all of the death benefits provided under the Policy. The amount to which the Company shall be entitled shall be the Net Payment Amount less any repayments made by the Epstxxx Xxxily Xxxe Insurance Trust to the Company prior to the death of the survivor of the Husband and WifeGrantor; provided, however, that upon receipt of such amount by the Company, the Company shall release the collateral assignment of the Policy made by the Epstxxx Xxxily Xxxe Insurance Trust to the Company pursuant to ARTICLE 6 of this Agreement. The receipt of such amount by the Company shall constitute satisfaction of the Epstxxx Xxxily Xxxe Insurance Trust's obligation under Section A of ARTICLE 5 of this Agreement. To the extent, if any, the death benefits under the Policy are insufficient to pay in full the Net Payment Amount less any repayments made by the Epstxxx Xxxily Xxxe Insurance Trust to the Company prior to the death of the survivor of the Husband and WifeGrantor, the Epstxxx Xxxily Xxxe Insurance Trust shall be liable to the Company for the amount of such insufficiency. B. When the survivor of the Husband and Wife Grantor dies, the beneficiary or beneficiaries benefi ciaries named by the Epstxxx Xxxily Xxxe Insurance Trust (or by its assignees) shall be entitled to receive the amount, if any, of the death benefits provided under the Policy in excess of the amount, if any, payable to the Company under Section A of this ARTICLE 8. Such amount shall be paid under the settlement option elected by the Epstxxx Xxxily Xxxe Insurance Trust (or by its assignees). C. If any interest is due upon the death benefits provided under the Policy, the Company and the beneficiary or beneficiaries named by the Epstxxx Xxxily Xxxe Insurance Trust (or by its assignees) shall share such interest in the same proportions as their respective shares of such death benefits (as provided in Sections A and B, respectively, of this ARTICLE 8) shall bear to the total death benefits provided under the Policy excluding such interest. D. If, upon the death of the survivor of the Husband and WifeGrantor, there is a refund of unearned premium under the Policy, then any such refund shall be divided between the Company (provided, however, that a Vesting Event shall not have occurred prior to such deaththe death of the Grantor, in which event the Company shall not receive any part or all of such refund under the Policy) and the beneficiary or beneficiaries named by the Epstxxx Xxxily Xxxe Insurance Trust (or by its assignees) in the same proportions as their respective shares of the last premium payment made by the Company and the Epstxxx Xxxily Xxxe Insurance Trust, respectively.

Death Claims. A. When the survivor of the Husband and Wife dies, the Grantor Trust shall be entitled to receive a portion of the death benefits provided under the Policy. The amount to which the Grantor Trust shall be entitled shall be the lesser of (i) the excess, if any, of such death benefits over the amount, if any, payable to the Company under Section B of this ARTICLE 8 or (ii) the Grantor Trust Net Payment Amount less any repayments made by the Family Trust to the Grantor Trust prior to the death of the survivor of the Husband and Wife; provided, however, that upon receipt of such amount by the Grantor Trust, the Grantor Trust shall release the collateral assignment of the Policy made by the Family Trust to the Grantor Trust pursuant to Section A of ARTICLE 6 of this Agreement. The receipt by the Grantor Trust of the Grantor Trust Net Payment Amount less any repayments made by the Family Trust to the Grantor Trust prior to the death of the survivor of the Husband and Wife shall constitute satisfaction of the Family Trust's obligation under Section A of ARTICLE 5 of this Agreement. To the extent, if any, the death benefits provided under the Policy are insufficient to pay in full the Grantor Trust Net Payment Amount less any repayments made by the Family Trust to the Grantor Trust prior to the death of the survivor of the Husband and Wife, the Family Trust shall be liable to the Grantor Trust for the amount of such insufficiency. B. When the survivor of the Husband and Wife dies, the Company shall be entitled to receive a portion of the death benefits provided under the Policy; provided, however, that a Vesting Event shall not have occurred prior to such death, in which event the Company shall not receive any part or all of the death benefits provided under the Policy. The amount to which the Company shall be entitled shall be the Company Net Payment Amount less any repayments made by the Epstxxx Xxxily Family Trust to the Company prior to the death of the survivor of the Husband and Wife; provided, however, that upon receipt of such amount by the Company, the Company shall release the collateral assignment of the Policy made by the Epstxxx Xxxily Family Trust to the Company pursuant to Section A of ARTICLE 6 of this Agreement. The receipt of such amount by the Company shall constitute consti tute satisfaction of the Epstxxx Xxxily Family Trust's obligation under Section A B of ARTICLE 5 of this Agreement. To the extent, if any, the death benefits under the Policy are insufficient to pay in full the Company Net Payment Amount less any repayments made by the Epstxxx Xxxily Family Trust to the Company prior to the death of the survivor of the Husband and Wife, the Epstxxx Xxxily Family Trust shall be liable to the Company for the amount of such insufficiency. B. C. When the survivor of the Husband and Wife dies, the beneficiary or beneficiaries named by the Epstxxx Xxxily Family Trust (or by its assignees) shall be entitled to receive the amount, if any, of the death benefits provided under the Policy in excess of the sum of (i) the amount, if any, payable to the Grantor Trust under Section A of this ARTICLE 8 and (ii) the amount, if any, payable to the Company under Section A B of this ARTICLE 8. Such amount shall be paid under the settlement option elected by the Epstxxx Xxxily Family Trust (or by its assignees). C. D. If any interest is due upon the death benefits provided under the Policy, the Grantor Trust, the Company and the beneficiary or beneficiaries named by the Epstxxx Xxxily Family Trust (or by its assignees) shall share such interest in the same proportions as their respective shares of such death benefits (as provided in Sections A A, B and BC, respectively, of this ARTICLE 8) shall bear to the total death benefits provided under the Policy excluding such interest. D. E. If, upon the death of the survivor of the Husband and Wife, there is a refund of unearned premium under the Policy, then any such refund shall be divided between the Grantor Trust, the Company (provided, however, that a Vesting Event shall not have occurred prior to such death, in which event the Company shall not receive any part or all of such refund under the Policy) and the beneficiary or beneficiaries named by the Epstxxx Xxxily Family Trust (or by its assignees) in the same proportions as their respective shares of the last premium payment made by the Grantor Trust, the Company and the Epstxxx Xxxily Family Trust, respectively.

Death Claims. A. When the survivor of the Husband and Wife dies, the Company shall be entitled to receive a portion of the death benefits provided under the Policy; provided, however, that a Vesting Event shall not have occurred prior to such death, in which event the Company shall not receive any part or all of the death benefits provided under the Policy. The amount to which the Company shall be entitled shall be the Net Payment Amount less any repayments made by the Epstxxx Gordxx Xxxily Trust to the Company prior to the death of the survivor of the Husband and Wife; provided, however, that upon receipt of such amount by the Company, the Company shall release the collateral assignment of the Policy made by the Epstxxx Gordxx Xxxily Trust to the Company pursuant to ARTICLE 6 of this Agreement. The receipt of such amount by the Company shall constitute satisfaction of the Epstxxx Gordxx Xxxily Trust's obligation under Section A of ARTICLE 5 of this Agreement. To the extent, if any, the death benefits under the Policy are insufficient to pay in full the Net Payment Amount less any repayments made by the Epstxxx Gordxx Xxxily Trust to the Company prior to the death of the survivor of the Husband and Wife, the Epstxxx Gordxx Xxxily Trust shall be liable to the Company for the amount of such insufficiency. B. When the survivor of the Husband and Wife dies, the beneficiary or beneficiaries named by the Epstxxx Gordxx Xxxily Trust (or by its assignees) shall be entitled to receive the amount, if any, of the death benefits provided under the Policy in excess of the amount, if any, payable to the Company under Section A of this ARTICLE 87. Such amount shall be paid under the settlement option elected by the Epstxxx Gordxx Xxxily Trust (or by its assignees). C. If any interest is due upon the death benefits provided under the Policy, the Company and the beneficiary or beneficiaries named by the Epstxxx Gordxx Xxxily Trust (or by its assignees) shall share such interest in the same proportions as their respective shares of such death benefits (as provided in Sections A and B, respectively, of this ARTICLE 8) 7) shall bear to the total death benefits provided under the Policy excluding such interest. D. If, upon the death of the survivor of the Husband and Wife, there is a refund of unearned premium under the Policy, then any such refund shall be divided between the Company (provided, however, that a Vesting Event shall not have occurred prior to such death, in which event the Company shall not receive any part or all of such refund under the Policy) and the beneficiary or beneficiaries named by the Epstxxx Gordxx Xxxily Trust (or by its assignees) in the same proportions as their respective shares of the last premium payment made by the Company and the Epstxxx Gordxx Xxxily Trust, respectively.