PAYMENT TO SURVIVORS Sample Clauses

PAYMENT TO SURVIVORS. Section 30.1. In the case of the death of a bargaining unit employee, the unused vacation leave, the sick leave retirement pay for which the employee would otherwise have qualified, and any wages shall be paid in accordance with Section 2113.04 of the Ohio Revised Code, or the employee's estate.
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PAYMENT TO SURVIVORS. 8.4.1 No payment of benefits will be made by the District in the event of the teacher’s death between the dates on which the teacher files either of the notices required in Articles 8.5.1 and
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PAYMENT TO SURVIVORS. When an Employee becomes a Participant, he or she may designate a beneficiary on a form provided by the Board of Trustees. If the Employee designated as a primary beneficiary an entity or person other than the person to whom the Participant or Former Participant is married at the date of the Participant's or Former Participant's death, such designation shall not be effective unless the person to whom the Participant or Former Participant is married at the date of the Participant's or Former Participant's death has consented in writing to such designation, such spouse's consent acknowledges the effect of such designation, and such consent is witnessed by a representative of the Plan or by a notary public. The consent of such spouse shall be irrevocable by such spouse in connection with the beneficiary designation with respect to which such consent is given. (To the extent the designation of a non-spouse beneficiary is not effective; the primary beneficiary shall be the spouse to whom the Participant or Former Participant is married at the date of the Participant's or Former Participant's death). Death benefits shall be paid in accordance with the terms of a valid beneficiary designation form completed by the Participant or Former Participant and filed with the Board of Trustees. If no valid beneficiary designation form has been filed with the Board of Trustees at the date of the death of the Participant or Former Participant (or if a deceased Participant or Former Participant is not survived by a primary beneficiary), the death benefit shall be paid in the following order to: (a) The surviving spouse of the Participant or Former Participant (provided they had been married for at least one year as of the date of death), (b) Child or children, equally, per stirpes, (c) Parent or parents, equally, or (d) The estate of the Participant or Former Participant for distribution to such persons then living who would take the personal property of the Participant or Former Participant under the statutes of descent and distribution of the state of legal domicile of the Participant or Former Participant (at the time of such person's death). To the extent provided in a Qualified Domestic Relations Order, the former spouse of a Participant or Former Participant shall be treated as such person's spouse.
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PAYMENT TO SURVIVORS. To the extent the Plan may allow benefits to be paid to a non-Spouse Beneficiary, and in the absence of a designated Beneficiary or if the designated Beneficiary is not living, the Trustees shall cause payment to be made to the following person, in the following order of priority; to the Employee’s estate; to the widow/widower, children, father, mother, grandchildren, brother or sister. a) In case of two (2) or more persons become entitled to a benefit payment, the entire benefit shall be equally divided among them. In the event that one (1) of them has paid the funeral expenses of the deceased Employee, the balance may be divided after one who paid the funeral expenses has been reimbursed. b) Except to the extent otherwise expressly provided in a Qualified Domestic Relations Order, a divorced Spouse of a Participant shall be deemed to have predeceased the Participant. Accordingly, benefits under this Plan shall be paid to those designated Beneficiaries who are entitled to distributions under the Beneficiary designation in effect at the time of the divorced Spouse’s failure to have survived the Participant. The Participant may change the beneficiary designation at any time and from time-to-time after the divorce.
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Related to PAYMENT TO SURVIVORS

  • PAYMENT TO SUB-CONTRACTORS 12.1 Transnet reserves the right, in its sole discretion, to make payment directly to the sub-contractor of the Supplier/Service Provider, subject to the following conditions: a) Receipt of an undisputed invoice from the sub-contractor; and b) Receipt of written confirmation from the Supplier/Service Provider that the amounts claimed by the sub-contractor are correct and that the services for which the sub- contractor has requested payment were rendered to the satisfaction of the Supplier/Service Provider, against the required standards. 12.2 Nothing contained in this clause must be interpreted as bestowing on any sub-contractor a right or legitimate expectation to be paid directly by Transnet. Furthermore, this clause does not bestow any right or legitimate expectation on the Supplier/Service provider to demand that Transnet pay its sub-contractor directly. The decision to pay any sub-contractor directly, remains that of Transnet alone.

  • Payment to Subcontractors (If applicable) As required by Minnesota Statute § 16A.1245, the prime Contractor must pay all subContractors, less any retainage, within 10 calendar days of the prime Contractor’s receipt of payment from the State for undisputed services provided by the subContractor(s) and must pay interest at the rate of one and one-half percent per month or any part of a month to the subContractor(s) on any undisputed amount not paid on time to the subContractor(s).

  • Agreement to Subscribe 1.1 Purchase and Issuance of the Private Placement Units. (a) Upon the terms and subject to the conditions of this Agreement, the Subscriber hereby agrees to purchase from the Company, and the Company hereby agrees to sell to the Subscriber, on the Initial Closing Date (as defined below) 594,076 Private Placement Units in consideration of the payment of the Purchase Price. On the Initial Closing Date, the Company shall, at its option, deliver to the Subscriber the certificates representing the Securities purchased or effect such delivery in book-entry form. (a) On the date of the consummation of the closing of the over-allotment option, if any, in connection with the IPO or on such earlier time and date as may be mutually agreed by the Subscriber and the Company (an “Over-allotment Closing Date,” and each Over-allotment Closing Date (if any) and the Initial Closing Date, a “Closing Date”), the Company shall issue and sell to the Subscriber, and the Subscriber shall purchase from the Company, up to 63,424 additional Private Placement Units (or, to the extent the over-allotment option is not exercised in full, a lesser number of Private Placement Units in proportion to the amount of the over-allotment option that is then exercised) at a price of $10.00 per Private Placement Unit for an aggregate purchase price of up to $634,240 (if the over-allotment option is exercised in full) (such amount, the “Over-allotment Purchase Price”). The Subscriber shall pay the Over-allotment Purchase Price by wire transfer of immediately available funds or by such other method as may be reasonably acceptable to the Company, to the trust account (the “Trust Account”) at a financial institution to be chosen by the Company, maintained by Continental Stock Transfer & Trust Company, acting as trustee (“Continental”), on or prior to the Over-allotment Closing Date. On the Over-allotment Closing Date, upon the payment by the Subscriber of the Over-allotment Purchase Price, the Company shall, at its option, deliver a certificate evidencing the Private Placement Units purchased by the Subscriber on such date duly registered in the Subscriber’s name to the Subscriber, or effect such delivery in book-entry form.

  • Prompt Payment to Subcontractors (a) Within 7 days of receipt by the Contractor of each payment from the City under this contract, the Contractor shall pay all Subcontractors (which term includes subconsultants and suppliers) based on work completed or service provided under the subcontract. Should any payment to the Subcontractor be delayed by more than 7 days after receipt of payment by the Contractor from the City under this contract, the Contractor shall pay the Subcontractor interest, beginning on the 8th day, at the rate of 1% per month or fraction thereof on such unpaid balance as may be due. By appropriate litigation, Subcontractors shall have the right to enforce this subsection (a) directly against the Contractor, but not against the City of Durham. (b) If the individual assigned to administer this contract for the City (in this section, titled “Prompt Payment to Subcontractors,” he or she will be referred to as the “Project Manager”) determines that it is appropriate to enforce subsection (a) in this manner, the City may withhold from progress or final payments to the Contractor the sums estimated by the Project Manager to be (i) the amount of interest due to the Subcontractor under subsection (a), and/or (ii) the amounts past-due under subsection (a) to the Subcontractor but not exceeding 5% of the payment(s) due from the City to the Contractor. This subsection (b) does not limit any other rights to withhold payments that the City may have. (c) Nothing in this section (titled “Prompt Payment to Subcontractors”) shall prevent the Contractor at the time of invoicing, application, and certification to the City from withholding invoicing, application, and certification to the City for payment to the Subcontractor for unsatisfactory job progress; defective goods, services, or construction not remedied; disputed work; third-party claims filed or reasonable evidence that such a claim will be filed; failure of the subcontractor to make timely payments for labor, equipment, and materials; damage to the Contractor or another subcontractor; reasonable evidence that the subcontract cannot be completed for the unpaid balance of the subcontract sum; or a reasonable amount for retainage not to exceed 10%. (d) The Project Manager may require, as a prerequisite to making progress or final payments, that the Contractor provide statements from any Subcontractors designated by the Project Manager regarding the status of their accounts with the Contractor. The statements shall be in such format as the Project Manager reasonably requires, including notarization if so specified.

  • Payment of Benefit The Company shall pay the annual benefit to the Executive in 12 equal monthly installments commencing with the month following the Executive’s Normal Retirement Date, paying the annual benefit to the Executive for a period of 15 years.

  • 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.

  • Agreement to Subordinate The Company agrees, and each Holder by accepting a Note agrees, that the Indebtedness evidenced by the Notes is subordinated in right of payment, to the extent and in the manner provided in this Article 10, to the prior payment in full of all Senior Debt (whether outstanding on the date hereof or hereafter created, incurred, assumed or guaranteed), and that the subordination is for the benefit of the holders of Senior Debt.

  • Right to Subcontract The Carrier at its discretion may subcontract on any terms the whole or any part of the Carriage.

  • Distribution of Benefit The Bank shall distribute the annual benefit to the Executive in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Executive for fifteen (15) years.

  • No Right to Subcontracting Subcontractor may not subcontract, either part or in whole, the Services authorized under this Agreement.

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