Definition of Beneficiary Sample Clauses

Definition of Beneficiary. For purposes of the foregoing, the term "Beneficiary" shall mean any person (including any trust or trustee) Employee may have designated in a writing acceptable to and filed with the Company. In the absence of the appointment of such a beneficiary or if such beneficiary predeceases Employee or refuses to accept the benefits hereunder, then the term "Beneficiary" shall mean the estate of Employee.
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Definition of Beneficiary. The term “Beneficiary,” as used in this Agreement, shall mean a holder of record on the books of the Voting Trust of Trust Interests (as defined below) granted hereunder (whether held by initial deposit or by subsequent transfer in accordance with this Agreement), and shall be construed to mean and include not only such holders and owners acting in their own right, but also any person, association or corporation possessing Trust Interests in a representative or fiduciary capacity.
Definition of Beneficiary. Participant’s “Beneficiary” or “Beneficiaries” shall be the person(s) designated in writing by Participant to receive his or her benefits under this Agreement if Participant dies before receiving all of his or her benefits. In the absence of a valid or effective Beneficiary designation, Participant’s surviving spouse shall be the Beneficiary or if there is none, the Beneficiary shall be Participant’s estate.
Definition of Beneficiary. Participant's "Beneficiary" or "Beneficiaries" shall be the person(s) designated in writing by Participant to receive his or her benefits under this Agreement if Participant dies before receiving all of his or her benefits. In the absence of a valid or effective Beneficiary designation, Participant's surviving spouse shall be the Beneficiary or if there is none, the Beneficiary shall be Participant's estate.
Definition of Beneficiary. Throughout this agreement the Beneficiary will be understood to be the person who, through a legally binding agreement with the APD/XXX, is entitled to receive specific services from the APD and/or XXX.
Definition of Beneficiary. A beneficiary is defined as a person who is a member of the church of The Farm Spiritual Community and is also a resident member as defined in this document. A beneficiary must maintain his or her resident member status and be in good standing with his/her financial obligations with The Foundation to assert their rights as a beneficiary. In a legal action instituted by a beneficiary against the Trust and/or its agents, the Trust as the prevailing party in such action, may be entitled to reasonable attorney fees and costs, as determined by a court of law. Any legal action against the Trust, trustee(s) and/or The Foundation must be commenced and prosecuted in Xxxxx County, Tennessee.
Definition of Beneficiary. The term "Beneficiary" shall mean the person or persons designated by Key Employee in a writing delivered to the Company to receive payments otherwise due Key Employee under this Agreement in the event Key Employee dies prior to the payment of all amounts due hereunder. Key Employee shall be entitled to change his Beneficiary from time to time; provided, however, that any such change shall not become effective until received by the Company in writing from Key Employee. If the Employee is married and does not name his spouse as his Beneficiary, Key Employee will provide the Company with a written consent signed by his spouse consenting and agreeing to such Beneficiary designation in a form deemed acceptable by the Company. If the Employee is unmarried or becomes unmarried and later marries or re-marries, as the case may be, and does not name his new spouse as Beneficiary, Key Employee will provide the Company with a written consent signed by his spouse consenting and agreeing to such Beneficiary designation in a form deemed acceptable by the Company.
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Definition of Beneficiary. For purposes of the foregoing, the term "Beneficiary" shall mean any person (including any trust or trustee) Consultant may have designated in a writing acceptable to and filed with the Company. In the absence of the appointment of such a beneficiary or if such beneficiary predeceases Consultant or refuses to accept the benefits hereunder, then the term "Beneficiary" shall mean the estate of Consultant.

Related to Definition of Beneficiary

  • Designation of Beneficiary The depositor may designate a beneficiary or beneficiaries to receive benefits from the custodial account in the event of the depositor’s death. In the event the depositor has not designated a beneficiary, or if all beneficiaries shall predecease the depositor, the following persons shall take in the order named:

  • Designation of Beneficiaries The Executive may designate any person to receive any benefits payable under the Agreement upon the Executive’s death, and the designation may be changed from time to time by the Executive by filing a new designation. Each designation will revoke all prior designations by the Executive, shall be in the form prescribed by the Administrator and shall be effective only when filed in writing with the Administrator during the Executive’s lifetime. If the Executive names someone other than the Executive’s spouse as a Beneficiary, the Administrator may, in its sole discretion, determine that spousal consent is required to be provided in a form designated by the Administrator, executed by the Executive’s spouse and returned to the Administrator. The Executive’s beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Executive or if the Executive names a spouse as Beneficiary and the marriage is subsequently dissolved.

  • Termination of Benefits Except as provided in Section 2 above or as may be required by law, Executive’s participation in all employee benefit (pension and welfare) and compensation plans of the Company shall cease as of the Termination Date. Nothing contained herein shall limit or otherwise impair Executive’s right to receive pension or similar benefit payments that are vested as of the Termination Date under any applicable tax-qualified pension or other plans, pursuant to the terms of the applicable plan.

  • CHANGE OF BENEFICIARY 18.1 The policyholder has the authority to appoint another beneficiary during the life of the insured person.. However, if the beneficiary has declared, with the written consent of the policyholder, that he accepts the benefit of the contract, the policyholder can exercise his rights under the contract only with the cooperation of the beneficiary, who has so accepted. The change will take effect from the moment that the insurer has noted this on the policy.

  • Limitation of Benefits (a) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any benefit, payment or distribution by the Company to or for the benefit of the Executive (whether payable or distributable pursuant to the terms of this Agreement or otherwise) (a "Payment") would, if paid, be subject to the excise tax imposed by Section 4999 of the Code (the "Excise Tax"), then the Payment shall be reduced to the extent necessary to avoid the imposition of the Excise Tax. The Executive may select the Payments to be limited or reduced.

  • Non-Duplication of Benefits Executive is not eligible to receive benefits under this Agreement more than one time.

  • Nonduplication of Benefits Notwithstanding any provision in this Agreement or in any other Employer benefit plan or compensatory arrangement to the contrary, but at all times subject to Section 7.4, (a) any payments due under Section 7.1, Section 7.2 or Section 7.3 shall be made not more than once, if at all, (b) payments may be due under Section 7.1, Section 7.2 or Section 7.3, but under no circumstances shall payments be made under all of or any combination of Section 7.1, Section 7.2 and Section 7.3, (c) no payments made under Sections 7.1, 7.2 and 7.3 this Agreement shall be considered compensation for purposes of any benefit plan or compensatory arrangement of Employer, and (d) Executive shall not be entitled to severance benefits from Employer other than as contemplated under this Agreement, unless such other severance benefits offset and reduce the benefits due under this Agreement on a dollar-for-dollar basis, but not below zero.

  • Distribution of Benefit The Bank shall distribute the annual benefit to the Executive in twelve (12) equal monthly installments commencing on the first day of the month following Normal Retirement Age. The annual benefit shall be distributed to the Executive for fifteen (15) years.

  • Payment of Benefit The Company shall pay the annual benefit to the Executive in 12 equal monthly installments commencing with the month following the Executive’s Normal Retirement Date, paying the annual benefit to the Executive for a period of 15 years.

  • DEATH OF BENEFICIARY Unless otherwise provided in the Beneficiary designation, if any Beneficiary dies before the Owner, that Beneficiary's interest will go to any other primary Beneficiaries named, according to their respective interests. If there are no primary Beneficiaries, the Beneficiaries' interest will pass to a contingent Beneficiary, if any. Prior to the Annuity Commencement Date, if no Beneficiary or contingent Beneficiary survives the Owner, the Death Benefits will be paid to the Owner's estate. Unless otherwise provided in the Beneficiary designation, once a Beneficiary is receiving Death Benefits or annuity payments under an Annuity Payment Option, the Beneficiary may name his or her own Beneficiary to receive any remaining benefits due under the Contract, should the original Beneficiary die prior to receipt of all benefits. If no Beneficiary is named or the named Beneficiary predeceases the original Beneficiary, any remaining benefits will continue to the original Beneficiary's estate. A Beneficiary designation must be made by Notice to LNY.

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