Payment by Beneficiary Clause Samples

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Payment by Beneficiary. Beneficiary shall have the right to pay any Imposition after the date such Imposition shall have become delinquent if Trustor's failure to pay such Imposition constitutes or would constitute, with or without the giving of notice by Beneficiary or the passage of time, an Event of Default (unless Trustor shall be contesting such Imposition pursuant to Section 2.1(c) hereof), and to add to the Obligations the amount so paid, together with interest thereon from the date of such payment at the then applicable interest rate under the Loan Agreement plus 2% per annum (the "Default Rate") and nothing herein contained shall affect such right and such remedy. Any amounts paid by Beneficiary or Trustee in discharge of any Impositions shall be (i) a future advance hereunder and a lien on the Trust Property secured hereby prior to any right or title to, interest in, or claim upon the Trust Property subordinate to the lien of this Deed of Trust, and (ii) payable on demand.
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Payment by Beneficiary. If Grantor shall fail to pay any Imposition in accordance with the provisions of this Section 1.02, Beneficiary, at its option and at such time as it may elect, may pay such Imposition, but shall be under no obligation to do so. Grantor will repay to Beneficiary, on demand, any amount so paid by Beneficiary, with interest thereon at the Increased Rate from the date of such payment by Beneficiary to the date of repayment by Grantor. This Deed of Trust shall secure each such amount and such interest.
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Payment by Beneficiary. Beneficiary shall have the right, after ---------------------- demand to Grantor, to pay any Imposition after the date such Imposition shall have become due, unless Grantor shall be contesting such Imposition pursuant to Section 2.01(b) hereof, and to add to the Obligations the amount so paid, --------------- together with interest thereon from the date of such payment at the Default Rate of interest applicable under the Credit Agreement, and nothing herein contained shall affect such right and such remedy. Any sums paid by Beneficiary in discharge of any Impositions shall be (i) a future advance hereunder and a lien on the Trust Property secured hereby prior to any right or title to, interest in, or claim upon the Trust Property subordinate to the lien of this Deed of Trust, and (ii) payable on demand.
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Payment by Beneficiary. If Trustor shall fail to pay any property taxes, assessments and insurance premiums relating to the Secured Property in accordance with the provisions of this Section 1.02, Beneficiary, at its option and at such time as it may elect, may pay any such property taxes, assessments and insurance premiums relating to the Secured Property, but shall be under no obligation to do so. Trustor will repay to Beneficiary, on demand, any amount so paid by Beneficiary, with interest thereon at the Increased Rate from the date of such payment by Beneficiary to the date of repayment by Trustor. This Deed of Trust shall secure each such amount and such interest.
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Payment by Beneficiary. Beneficiary shall have the right to pay any Imposition after the date such Imposition shall have become delinquent if Trustor's failure to pay such Imposition constitutes or would constitute, with or without the giving of notice by Beneficiary or the passage of time, an Event of Default (unless Trustor shall be contesting such Imposition pursuant to Section 2.1(c) hereof), and to add to the Obligations the amount so paid, together with interest thereon from the date of such payment at the then applicable interest rate on the Notes (the "Default Rate") and nothing herein contained shall affect such right and such remedy. Any amounts paid by Beneficiary or Trustee in discharge of any Impositions shall be (i) a future advance hereunder and a lien on the Trust Property secured hereby prior to any right or title to, interest in, or claim upon the Trust Property subordinate to the lien of this Deed of Trust, and (ii) payable on demand.
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Related to Payment by Beneficiary

  • Enforcement by a Beneficiary A Beneficiary may enforce the obligations of the Guarantor contained in Section 4.1(b) directly against the Guarantor and the Guarantor waives any right or remedy to require that any action be brought against the Issuer or any other person or entity before proceeding against the Guarantor. The Guarantor shall be subrogated to all rights (if any) of any Beneficiary against the Issuer in respect of any amounts paid to the Beneficiaries by the Guarantor under this Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any rights that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Guarantee, if at the time of any such payment, and after giving effect to such payment, any amounts are due and unpaid under this Guarantee.

  • DEATH OF BENEFICIARY Unless otherwise provided in the Beneficiary designation, if any Beneficiary dies before the Owner, that Beneficiary's interest will go to any other primary Beneficiaries named, according to their respective interests. If there are no primary Beneficiaries, the Beneficiaries' interest will pass to a contingent Beneficiary, if any. Prior to the Annuity Commencement Date, if no Beneficiary or contingent Beneficiary survives the Owner, the Death Benefits will be paid to the Owner's estate. Unless otherwise provided in the Beneficiary designation, once a Beneficiary is receiving Death Benefits or annuity payments under an Annuity Payment Option, the Beneficiary may name his or her own Beneficiary to receive any remaining benefits due under the Contract, should the original Beneficiary die prior to receipt of all benefits. If no Beneficiary is named or the named Beneficiary predeceases the original Beneficiary, any remaining benefits will continue to the original Beneficiary's estate. A Beneficiary designation must be made by Notice to LNY.

  • PAYMENT BY APPLICANT Payment of amounts due under this Article shall be made as set forth in Section 4.8 of this Agreement and is subject to the limitations contained in Section 7.1.

  • Designation of Beneficiary The depositor may designate a beneficiary or beneficiaries to receive benefits from the custodial account in the event of the depositor’s death. In the event the depositor has not designated a beneficiary, or if all beneficiaries shall predecease the depositor, the following persons shall take in the order named: a. The spouse of the depositor; b. If the spouse shall predecease the depositor or if the depositor does not have a spouse, then to the depositor’s estate.

  • CHANGE OF BENEFICIARY 18.1 The policyholder has the authority to appoint another beneficiary during the life of the insured person.. However, if the beneficiary has declared, with the written consent of the policyholder, that he accepts the benefit of the contract, the policyholder can exercise his rights under the contract only with the cooperation of the beneficiary, who has so accepted. The change will take effect from the moment that the insurer has noted this on the policy.