Common use of Payment into Court Clause in Contracts

Payment into Court. If there is a dispute about: (a) a payout from the Account or equalization of Property or other dispute arising from a breakdown of the Holder’s marriage or common law partnership; (b) the validity or enforceability of any legal demand or claim against the Property; or (c) the authority of a person or personal representative to apply for and accept receipt of the Proceeds on death of the Holder, the Trustee and the Agent are entitled to either apply to the court for directions or pay the Proceeds into court, which payment shall be in Canadian dollars, and, in either case, fully recover any legal costs it incurs in this regard as Expenses from the Account.

Payment into Court. If there is a dispute or uncertainty about: (a) a payout from the Account or equalization of Property property or other dispute arising from a breakdown of the Holderholder’s marriage or common law partnership; (b) the validity or enforceability of any legal demand or claim against the Property; or (c) the authority of a person or personal their legal representative to apply for and accept receipt of the Proceeds on death of the Holder, ; the Trustee and the Agent are entitled to either apply to the court for directions or pay the Proceeds into court, which payment shall be in Canadian dollars, and, in either case, fully recover any legal costs it incurs in this regard as Expenses from the Account.