Common use of Discharge of Liability Clause in Contracts

Discharge of Liability. The Assignee’s liability to make each Periodic Payment to the Claimant or Successor Payee designated to receive such payment shall be discharged automatically at such time as a corresponding payment is made to such Claimant or Successor Payee by the Annuity Issuer.

Discharge of Liability. The AssigneeOwner’s liability to make each Periodic Payment to the Claimant or Successor Payee designated to receive such payment shall be discharged automatically at such time as a corresponding payment is made to such Claimant or Successor Payee by the Annuity Issuer.

Discharge of Liability. The Assignee’s liability to make each Periodic Payment to the Claimant or Successor Payee designated to receive such payment Seller shall be discharged automatically at such time as a corresponding payment is made to such Claimant or Successor Payee the Seller by the Annuity Issuer. A payment shall be deemed made upon the mailing, or its electronic equivalent, tendering payment to the Seller’s address or account of record.

Discharge of Liability. The Assignee’s liability to make each Periodic Payment to the Claimant or Successor Payee designated to receive such payment shall be discharged automatically at such time as a corresponding payment is made to such Claimant or Successor Payee by the Annuity IssuerPrudential.