Distributions to Beneficiaries. Following the death of the Participant, the balance of the Participant’s Custodial Account shall be distributed to the Participant’s designated beneficiary or beneficiaries, if any, in accordance with the provisions of Article V of the Plan and in accordance with the Custodian’s administrative or operational requirements and regular business practices. A Participant may designate a beneficiary or beneficiaries of the Custodial Account at any time, and any such designation may be changed or revoked at any time, by written designation signed by the Participant in a form and manner prescribed by or acceptable to, and filed with, the Custodian. Such designation, change, or revocation shall be effective only upon receipt by the Custodian and only if such receipt shall be during the Participant’s lifetime. The latest such designation, change, or revocation shall control. If there is no beneficiary designation on file with the Custodian, or if the designated beneficiary has not survived the Participant, the Custodian shall distribute the Custodial Account to the survivors of the Participant in the following order of preference:
Distributions to Beneficiaries. Section 7.1 All Trust Property shall be distributed by the Trustee to the Beneficiaries, as beneficiaries under the Trust solely in accordance with Section 7.2, on one or more distribution dates as determined by the Trustee.
Distributions to Beneficiaries. Notwithstanding any other provision of ------------------------------ this Agreement, the Trust may distribute to any Person that is a beneficiary of the Trust from time to time the number of TCI Shares that are beneficially owned by such Person, provided that such Person complies with the provisions of Section 3.6.
Distributions to Beneficiaries. Each Beneficiary shall be entitled to receive on a distribution date its share of Trust Cash distributed by the Litigation Trustee to Beneficiaries based on such Beneficiary's Beneficiary Sharing Ratio in effect at the time of the distribution, provided that (i) the first $30,000,000 of Trust Cash made available for distribution (the "Initial Distribution Amount") shall be allocated and payable only to the Non-Credit Facility Beneficiaries, and (ii) each Non-Credit Facility Beneficiary shall receive its share of the Initial Distribution Amount based on its respective Non-Credit Facility Beneficiary Sharing Ratio in effect at the time of distributions of any part or all of the Initial Distribution Amount. For the avoidance of doubt, the Credit Facility Beneficiaries will not be entitled to receive any portion of the Initial Distribution Amount. Each Beneficiary, including each Credit Facility Beneficiary, shall be entitled to receive its share of distributions to Beneficiaries in excess of the Initial Distribution Amount based on such Beneficiary's Beneficiary Sharing Ratio in effect at the time of the distribution.
Distributions to Beneficiaries. In the event that a Participant shall die with a credit balance in such Participant’s Vacation Account, upon receipt of proof of death, the Trustees shall distribute the credit balance to the Beneficiary, by check mailed to the last known address of the Beneficiary in the records of the Plan.
Distributions to Beneficiaries. The Trustees, in their absolute discretion, may pay any income and principal of the Trust to the Eligible Beneficiaries in accordance with the terms of this Trust. Absent clear and convincing evidence of bad faith, the Trustees’ decisions as to amounts to be distributed will be final.
Distributions to Beneficiaries. On each applicable Distribution Date, the Liquidating Trustee will distribute the Liquidating Trust Assets that have been converted to Cash to each Beneficiary after payment of or reserve for the items described in Section
Distributions to Beneficiaries. The Trustee shall pay to each Beneficiary from the capital of the Trust Fund an amount, representing his or her Common Experience Payment, calculated in accordance with Section 5.02 of the Settlement Agreement.
Distributions to Beneficiaries. Section 8.1 In-kind Distributions to Category-I Beneficiaries Unless otherwise prohibited by applicable law, all distributions to Category-1 Beneficiaries shall be in-kind distributions of Axion Shares; provided that if the calculations required by this Amendment would result in the issuance of a fractional Axion Share to any Category-I Beneficiary, then that Beneficiary shall instead be entitled to receive a cash payment equal to the fair market value of any fractional share. In connection with each in-kind distribution of Axion Shares, the Trustee shall deliver a stock certificate for Axion Shares that has been registered in the name of the Category-I Beneficiary, together with a copy of the prospectus included in the registration statements specified in Section 5.2 or 5.3. When a Category-1 Beneficiary has received certificates for all of the Axion Shares he is entitled to receive under the terms of this Amendment together with payment for any fractional shares, all further rights and privileges of such Category-I Beneficiary shall terminate forthwith.
Distributions to Beneficiaries. Subject to subsection 11.4, the following rules shall apply if a Participant dies while any portion of his Accounts remains undistributed:
