Missing Beneficiaries Sample Clauses

The Missing Beneficiaries clause addresses situations where individuals who are entitled to benefit under a trust, will, or similar arrangement cannot be located or identified. In practice, this clause typically allows the trustee or executor to proceed with the administration of the estate or trust by making reasonable efforts to find the missing beneficiaries, such as public notices or inquiries, and may permit the distribution of assets to proceed after a certain period or with court approval. Its core function is to prevent indefinite delays in the administration process due to untraceable beneficiaries, thereby ensuring efficient settlement and reducing legal uncertainty for the parties involved.
Missing Beneficiaries. If a notice or distribution is mailed by the Trustee to a Beneficiary and either the notice is returned to the Trustee as undeliverable or any check included in such notice is not cashed within a reasonable period of time, such Beneficiary shall thereafter be a “Missing Beneficiary.”
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Missing Beneficiaries. A Missing Beneficiary shall be defined as (a) a stockholder on the date of the closing of the transfer books of the Company who has neither surrendered his Stock Certificates nor provided the Administrator with an indemnity bond in the event of loss, theft or destruction thereof, or (b) a stockholder who has not cashed one or more checks issued to him by the Trust in payment of liquidating distributions or has not properly endorsed any document required by a delivery service in connection with the delivery of property addressed to him as part of a liquidating distribution. If a notice or distribution is mailed by the Trust to a Beneficiary and either the notice is returned by the United States Postal Service to the Trust as undeliverable or any check included in such notice is not cashed within a reasonable period of time, such Beneficiary shall thereafter be a Missing Beneficiary. The Trust shall deal with Missing Beneficiaries in accordance with applicable escheat laws and shall give notice as required by such escheat laws.
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Missing Beneficiaries. A "Missing Beneficiary" shall be defined as a Beneficiary who has not cashed one or more checks issued to him by the Trustee in payment of distributions hereunder or has not properly endorsed any document required by a delivery service in connection with the delivery of property addressed to him as part of a distribution hereunder. If a notice or distribution is mailed by the Trustee to a Beneficiary and either the notice is returned by the United States Postal Service to the Trustee as undeliverable or any check included in such notice is not cashed within 60 days, such Beneficiary shall thereafter be a Missing Beneficiary. Upon the termination of the Trust pursuant to Section 6.2 hereof, any distributions hereunder which have not been distributed due to the existence of Missing Beneficiaries shall be delivered to iPCS to be held for the benefit of the Missing Beneficiaries and in accordance with applicable escheat law and any Missing Beneficiaries shall thereafter look only to iPCS for payment of any such distributions.
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Missing Beneficiaries. A Missing Beneficiary shall be defined as a Beneficiary who has not cashed one or more checks issued to him by the Trust in payment of liquidating distributions or has not properly endorsed any document required by a delivery service in connection with the delivery of property addressed to him as part of a liquidating distribution. If a notice or distribution is mailed by the Trust to a Beneficiary and either the notice is returned by the United States Postal Service to the Trust as undeliverable or any check included in such notice is not cashed within a reasonable period of time, such Beneficiary shall thereafter be a Missing Beneficiary. The Trust shall deal with Missing Beneficiaries in accordance with applicable escheat laws and shall give notice as required by such escheat laws.
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Related to Missing 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.

  • Beneficiaries The Executive may designate one or more persons or entities as the primary and/or contingent Beneficiaries of any Severance Benefits owing to the Executive under this Agreement. Such designation must be in the form of a signed writing acceptable to the Committee. The Executive may make or change such designations at any time.

  • Party Beneficiaries This Agreement is for the sole benefit of the parties hereto and their respective successors and permitted assigns, and nothing herein is to be construed to give any person or entity, other than the parties hereto and their respective successors and permitted assigns, any legal or equitable rights hereunder.

  • Beneficiaries/References Executive shall be entitled, to the extent permitted under any applicable law, to select and change a beneficiary or beneficiaries to receive any compensation or benefit payable under this Agreement following Executive’s death by giving the Company written notice thereof. In the event of Executive’s death or a judicial determination of Executive’s incompetence, reference in this Agreement to Executive shall be deemed, where appropriate, to refer to Executive’s beneficiary, estate or other legal representative.

  • ▇▇ Third Party Beneficiaries Nothing in this Agreement, express or implied, is intended to or shall confer upon any person not a party hereto any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement, except as described in Section 21(b) of this Agreement. Without limiting the generality of the foregoing, nothing in this Agreement is intended to, or shall be read to, (i) create in any shareholder or person other than the Adviser or the Fund(s) in question (including without limitation any shareholder in any Fund) any direct, indirect, derivative or other rights against the Adviser or Sub-Adviser or (ii) create or give rise to any duty or obligation on the part of the Adviser or Sub-Adviser (including without limitation any fiduciary duty) to any shareholder or person other than a Fund, all of which rights, benefits, duties and obligations are hereby expressly excluded.