Common use of Lack of Beneficiaries Clause in Contracts

Lack of Beneficiaries. Any portion of the amounts payable under Section 6.5 which is undisposed of because all or some of the designated Beneficiaries have predeceased a Participant or because of a Participant's failure to designate a Beneficiary in writing prior to his death shall be paid to the deceased Participant's surviving spouse, if any, and, if none, to the deceased Participant's estate.

Appears in 8 contracts

Samples: Employee Stock Ownership Plan And (Third Century Bancorp), Employee Stock Ownership Plan And (Citizens Bancorp), Employee Stock Ownership Plan And (Citizens Bancorp)

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Lack of Beneficiaries. Any portion of the amounts payable under Section 6.5 which is undisposed of because all or some of the designated Beneficiaries have predeceased a Participant or because of a Participant's ’s failure to designate a Beneficiary in writing prior to his death shall be paid to the deceased Participant's ’s surviving spouse, if any, and, if none, to the deceased Participant's ’s estate.

Appears in 1 contract

Samples: Trust Agreement (Union Community Bancorp)

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