Death of Spouse. If the spouse of a Holder dies, and all or any portion of the Common Stock registered in the name of such Holder (the “Surviving Holder”) vests in or is transferable to any heir or legatee other than the Surviving Holder, the Surviving Holder shall promptly notify the Company of such event. The Surviving Holder shall have the option to purchase all of the Common Stock vesting in or transferable to such heir or legatee for an amount equal to the Purchase Price, and such heir or legatee and the estate of the deceased spouse shall be obligated to sell such Common Stock to the Surviving Holder for such Purchase Price. Such option must be exercised, and the purchase consummated, within one hundred fifty (150) days after the last to occur of (a) the entry of an order of a probate, notary public or similar court (having jurisdiction over the estate of the deceased spouse) (i) admitting to probate the will of the deceased spouse or (ii) determining the heirs of the deceased spouse if the deceased spouse is determined to have died intestate or (b) the appointment of the executor, administrator or legal representative of the estate of the deceased spouse. The option shall be exercised by the giving of written notice of exercise to the executor, administrator or legal representative of the deceased spouse’s estate. The Surviving Holder shall, within five (5) days after the expiration of such one hundred fifty (150) day period, deliver written notice to the Company as to whether the Surviving Holder has purchased all of the Common Stock vesting in or transferable to any such heir or legatee. In the event such written notice states that the Surviving Holder has not purchased all such Common Stock, or no such notice is delivered to the Company within the time required, all such heirs and legatees shall be deemed to have made an irrevocable Offer (the “Offer”) of such remaining Common Stock to the Eligible Offerees for an amount per share equal to the Purchase Price, and the Company shall (and is hereby authorized by the Holders and their respective spouses, heirs and legatees to), within five (5) Business Days after (x) the receipt of such notice, if delivered within the time required or (y) if such notice is not given within the time required, the receipt by the Company of evidence satisfactory to it that the Surviving Holder did not exercise its option to repurchase such remaining Common Stock within such one hundred fifty (150) day period, deliver written notice of t...
Death of Spouse. Upon the death of an employee, the surviving spouse may remain in the group plan for a period of one year by paying the monthly premium.
Death of Spouse. If the Participant's surviving spouse is the Participant's sole Designated Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse are required to begin, then this Section 6.02(B)(1) (other than Section 6.02(B)(1)(a)) will apply as if the surviving spouse were the Participant.
Death of Spouse. If the Participant's surviving spouse is the Participant's sole designated Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 4.03(B)(2) other than Section 4.03(B)(2)(a), will apply as if the surviving spouse were the Participant. For purposes of this Section 4.03(B) and Section 4.03(D), unless Section 4.03(B)(2)(d) applies, distributions are considered to begin on the Participant's required beginning date. If Section 4.03(B)(2)(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 4.03(B)(2)(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant's required beginning date or to the Participant's surviving spouse before the date distributions are required to begin to the surviving spouse under Section 4.03(B)(2)(a), the date distributions are considered to begin is the date distributions actually commence.
Death of Spouse. (a) Each Spouse agrees to bequeath his entire Spousal Interest to the Shareholder. This promise is made with the Spouse’s full knowledge, is made for good and valuable consideration, and constitutes a covenant binding on the Spouse’s estate, Personal Representative, heirs, and beneficiaries.
Death of Spouse. (i) The Spouse of Employee ("Spouse") hereby agrees that in the event of their divorce or of Spouse's death, Employee shall have the right and option to purchase all or any part of any interest in the Stock owned by Employee to which Spouse (or Spouse's estate) is entitled by virtue of any marital property laws or any decree of separation, divorce or property division. Such option period shall commence on the date of entry of a decree of divorce, in the event of a divorce, or upon the date of qualification of the personal representative of the Spouse, in the event of
Death of Spouse. If the Participant's surviving Spouse is the Participant's sole "designated Beneficiary" and the surviving Spouse dies after the Participant but before distributions to the surviving Spouse begin, this Section 6.8(b)(2), other than Section 6.8(b)(2)(i), will apply as if the surviving Spouse were the Participant. For purposes of this Section 6.8(b)(2) and Section 6.8(b)(3), unless Section 6.8(b)(2)(iv) applies, distributions are considered to begin on the Participant's "required beginning date." If Section 6.8(b)(2)(iv) applies, distributions are considered to begin on the date distributions are required to begin to the surviving Spouse under Section 6.8(b)(2)(i). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant's "required beginning date" (or to the Participant's surviving Spouse before the date distributions are required to begin to the surviving Spouse under Section 6.8(b)(2)(i)), the date distributions are considered to begin is the date distributions actually commence.
Death of Spouse. If the spouse of a Management Investor dies, and all --------------- or any portion of the Common Stock and Common Stock Equivalents registered in the name of such Party ("Surviving Party") vests in or is Transferred to any heir or legatee other than the Surviving Party or any Permitted Management Investor Family Transferee, the Surviving Party shall promptly notify
Death of Spouse. If your Spouse dies while his or her policy is in force, your Spouse’s remaining Maximum Lifetime Benefit will be added to your Maximum Lifetime Benefit. No additional premiums will be due under your policy solely as a result of such increase in your Maximum Lifetime Benefit.
Death of Spouse. Upon the death of a spouse of Liscxxx, Xxscxxx xxxll use his best efforts to cause the deceased spouse's interest in the Converted Liscxxx Xxxres (community or otherwise), if any, to be distributed or transferred to him. If the interest of the deceased spouse is not held by Liscxxx xxxectly or in trust whereby Liscxxx xx the sole trustee and has the sole beneficial interest in the trust, then Liscxxx xxxll purchase the Converted Liscxxx Xxxres of his deceased spouse and the estate or successor in interest of such deceased spouse's interest shall sell the interest to Liscxxx xx the same terms and at the same price as set forth in this Agreement with respect to a sale by Liscxxx xx the Littxxx. Xx such disposition or sale does not occur for any reason whatsoever within 180 days after the date of death, the Littxxx xxxll have the right and option to purchase the remaining interest in the Converted Liscxxx Xxxres of the deceased spouse at the same price and upon the same terms as hereafter set forth in this Agreement with respect to a sale by Liscxxx xx the Littxxx. Xiscxxx xxxll promptly notify the Littxxx xx writing of the death of Liscxxx'x xxxuse and the disposition of any Converted Liscxxx Xxxres by reason thereof which provide the Littxxx xxx purchase rights hereunder. If any Converted Liscxxx Xxxres are held in a trust for the benefit of Liscxxx xx virtue of the death of Liscxxx'x xxxuse, upon the earlier of Liscxxx'x xxxth, Liscxxx xxxsing to act as sole trustee, or Liscxxx xxxsing to have the sole beneficial interest in the trust, then the Littxxx xxxll have the right to purchase the Converted Liscxxx Xxxres so held in trust upon the same terms and same conditions as set forth in this Agreement with respect to a sale by Liscxxx xx the Littxxx.
