Final Remainder Beneficiaries Sample Clauses

Final Remainder Beneficiaries. The Final Remainder Beneficiaries shall be as set forth in Section 8 above. Notwithstanding the foregoing, the Final Remainder Beneficiaries will only be entitled to a distribution from the Beneficiary’s IBA after all amounts have been paid to or for the Trust, Trust expenses and Government Reimbursement Claims, if any, as provided in Article 6 of the Master Trust.
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Final Remainder Beneficiaries. When the Beneficiary dies and if anything remains in the Individual Trust Account after the optional percentages chosen above to be retained by the Trustee for the benefit of other BIAWA Pooled Third Party Special Needs Trust beneficiaries or to be given to the BIAWA general operating account as a charitable donation, the Trust provides that the Account Founder may direct how the funds are to be distributed. The Account Founder directs any such remaining funds are to be distributed as follows: 1. ( initials) The balance of the Individual Trust Account shall be distributed to the following individuals and/or entities: a. Name: b. Name: c. Name: Address: Phone: Email: Amount or Percentage of Final Remainder: Is this Person currently a beneficiary of an Individual Trust Account in the BIAWA Pooled First Party Special Needs Trust, Third Party Special Needs Trust, or Basic Support and Maintenance Trust? ☐Yes ☐No If yes, which Trust? If yes, would you like their share to pass directly their Individual Trust Account? ☐Yes ☐No d. Name: Address: Phone: Relationship to Beneficiary: Amount or Percentage of Final Remainder: Is this Person currently a beneficiary of an Individual Trust Account in the BIAWA Pooled First Party Special Needs Trust, Third Party Special Needs Trust, or Basic Support and Maintenance Trust? ☐Yes ☐No If yes, which Trust? If yes, would you like their share to pass directly their Individual Trust Account? ☐Yes ☐No
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Final Remainder Beneficiaries. After the administration of the deceased Beneficiary’s IBA as provided in Article 6, Section 6.2 of the Master Trust, including the satisfaction of Medicaid payback obligations as provided therein, any assets that have not been retained as surplus Trust property as provided in this paragraph 8 shall be distributed to the Final Remainder Beneficiaries as provided below. Contingent Beneficiary Contingent Beneficiary Contingent Beneficiary Contingent Beneficiary
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Final Remainder Beneficiaries. If the Beneficiary dies prior to termination at the age specified in Paragraph V(B) above, the Trust provides as follows: 1. If the Beneficiary has executed a valid Will or Power of Appointment, the balance of the Individual Trust Account shall be distributed in accordance with the provisions of such Will or Power. 2. If the Beneficiary has not executed a valid Will or Power of Appointment, the balance of the Individual Trust Account shall be distributed in accordance with the laws of Intestate Succession for the state in which the Beneficiary resides at the date of his or her death.
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Final Remainder Beneficiaries. If any assets have not been retained as surplus Trust property after administration of the deceased Beneficiary’s IBA as provided in paragraphs 12.b and 12.c of this Agreement (and Article 6 of the Master Trust), the remaining assets shall be distributed to the Final Remainder Beneficiaries as provided below.
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Final Remainder Beneficiaries. When the Beneficiary dies, if anything remains in the Individual Trust Account after the optional percentage chosen above to be retained by the Trustee for the benefit of other BIAWA Pooled First Party Special Needs Trust beneficiaries, and after every state that has provided Medicaid to you has been reimbursed, the Trust provides as follows: 1. If the Beneficiary has executed a valid Will or Power of Appointment, the balance of the Individual Trust Account shall be distributed in accordance with the provisions of such Will or Power. 2. If the Beneficiary has not executed a valid Will or Power of Appointment, the balance of the Individual Trust Account shall be distributed in accordance with the laws of Intestate Succession for the state in which the Beneficiary resides at the date of his or her death.
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Related to Final Remainder Beneficiaries

  • Intended Beneficiaries Nothing in this Agreement shall be construed to give any person or entity other than the parties hereto any legal or equitable claim, right or remedy. Rather, this Agreement is intended to be for the sole and exclusive benefit of the parties hereto.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • How do the RMD Rules Impact my Designated Beneficiary or Beneficiaries The RMD rules provide for the determination of your designated beneficiary or beneficiaries as of September 30 of the year following your death. Consequently, any beneficiary may be eliminated for purposes of calculating the RMD by the distribution of that beneficiary’s benefit, through a valid disclaimer between your death and the end of September following the year of your death, or by dividing your IRA account into separate accounts for each of several designated beneficiaries you may have designated.

  • Regular Benefits The Executive shall also be entitled to participate in any and all employee benefit plans, medical insurance plans, life insurance plans, disability income plans, retirement plans, bonus incentive plans and other benefit plans from time to time in effect for senior executives of the Employer. Such participation shall be subject to (i) the terms of the applicable plan documents, (ii) generally applicable policies of the Employer and (iii) the discretion of the Board of Directors of the Employer or any administrative or other committee provided for in or contemplated by such plan.

  • Distributions to Certificateholders; Payment of Special Primary Insurance Premiums (a) On each Distribution Date, the Trustee (or any duly appointed paying agent) shall (i) subject to Section 3.05(a)(viii), withdraw from the Certificate Account any Special Primary Insurance Premium payable on such Distribution Date and pay such amount to the insurer under the applicable Special Primary Insurance Policy and (ii) withdraw from the Certificate Account the REMIC II Available Distribution Amount for such Distribution Date and distribute, from the amount so withdrawn, to the extent of the REMIC II Available Distribution Amount, the REMIC II Distribution Amount to the Certificateholders (including the Class R Certificateholders with respect to any distribution to the Holders of the Class R-2 Residual Interest), all in accordance with the written statement received from the Master Servicer pursuant to Section 4.02(b). Any Special Primary Insurance Premiums distributed pursuant to clause (i) above shall be distributed by means of payment acceptable to the insurer under the respective Special Primary Insurance Policy. Amounts distributed to the Certificateholders pursuant to clause (ii) above shall be distributed by wire transfer in immediately available funds for the account of, or by check mailed to, each such Certificateholder of record on the immediately preceding Record Date (other than as provided in Section 9.01 respecting the final distribution), as specified by each such Certificateholder and at the address of such Holder appearing in the Certificate Register. (b) All reductions in the Certificate Principal Balance of a Certificate effected by distributions of principal and all allocations of Realized Losses made on any Distribution Date shall be binding upon all Holders of such Certificate and of any Certificate issued upon the registration of transfer or exchange therefor or in lieu thereof, whether or not such distribution is noted on such Certificate. The final distribution of principal of each Certificate (and the final distribution upon the Class R Certificates upon (i) the termination of REMIC I and REMIC II and (ii) the payment, or making provision for payment, of all liabilities of the Trust) shall be payable in the manner provided above only upon presentation and surrender thereof on or after the Distribution Date therefor at the office or agency of the Certificate Registrar specified in the notice delivered pursuant to Section 4.04(c)(ii) and Section 9.01(b). (c) Whenever, on the basis of Curtailments, Payoffs and Monthly Payments on the Mortgage Loans and Insurance Proceeds and Liquidation Proceeds received and expected to be received during the Payoff Period, the Master Servicer has notified the Trustee that it believes that the entire remaining unpaid Class Principal Balance of any Class of Certificates will become distributable on the next Distribution Date, the Trustee shall, no later than the 18th day of the month of such Distribution Date, mail or cause to be mailed to each Person in whose name a Certificate to be so retired is registered at the close of business on the Record Date and to the Rating Agencies a notice to the effect that: (i) it is expected that funds sufficient to make such final distribution will be available in the Certificate Account on such Distribution Date, and (ii) if such funds are available, (A) such final distribution will be payable on such Distribution Date, but only upon presentation and surrender of such Certificate at the office or agency of the Certificate Registrar maintained for such purpose (the address of which shall be set forth in such notice), and (B) no interest shall accrue on such Certificate after such Distribution Date.

  • Death During Distribution of a Benefit If the Executive dies after any benefit distributions have commenced under this Agreement but before receiving all such distributions, the Bank shall distribute to the Beneficiary the remaining benefits at the same time and in the same amounts they would have been distributed to the Executive had the Executive survived.

  • No Other Beneficiaries This Agreement is intended for the sole and exclusive benefit of the parties hereto and their respective successors and controlling persons, and no other person, firm or corporation shall have any third-party beneficiary or other rights hereunder.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

  • Disability Benefit If the Executive terminates employment due to Disability prior to Normal Retirement Age, the Company shall pay to the Executive the benefit described in this Section 2.3 in lieu of any other benefit under this Agreement.

  • 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.

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