Common use of Failure to Designate Clause in Contracts

Failure to Designate. If a Member has failed effectively to designate a Beneficiary to receive the Member’s death benefits, or a Beneficiary previously designated has predeceased the Member and no alternative designation has become effective, such benefits shall be distributed to the Member’s surviving spouse, if any, or if no spouse survives the Member, to the Member’s estate.

Appears in 2 contracts

Samples: Savings Plan (Arrow Electronics Inc), Affiliate Agreement (Arrow Electronics Inc)

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Failure to Designate. If a Member Participant has failed effectively to designate effectively a Beneficiary to receive the Member’s Participant's death benefitsbenefits under the Plan, or if a Beneficiary previously designated has predeceased the Member Participant and no alternative designation has become effective, such benefits shall be distributed to the Member’s Participant's surviving spouseSpouse, if any, or if no spouse Spouse survives the MemberParticipant, to the Member’s Participant's estate.

Appears in 2 contracts

Samples: Employees' Savings, Investment and Profit Sharing Plan (Revlon Inc /De/), Employee Retirement Plan (Cosmetic Center Inc)

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Failure to Designate. If a Member has failed effectively to designate a Beneficiary to receive the Member’s 's death benefits, or a Beneficiary previously designated has predeceased the Member and no alternative designation has become effective, such benefits shall be distributed to the Member’s 's surviving spouse, if any, or if no spouse survives the Member, to the Member’s 's estate.

Appears in 1 contract

Samples: Savings Plan (Arrow Electronics Inc)

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