Payments to Beneficiaries. For the purposes of this Agreement, Beneficiaries shall mean the person or persons designated by the Employee in writing on forms furnished by the Bank. Such Employee may then from time to time change the designated Beneficiaries by written notice to the Bank, and upon such change the rights of all previously designated Beneficiaries to receive any benefits under this Agreement shall cease. If, at the date of death of the Employee, no properly designated Beneficiary exists, then for the purposes of this Agreement, the legally recognized Spouse of the Employee living at his death, shall be the Beneficiary; if none, then the Children, natural and adopted, then living of the Employee; if none, then the Employee's Estate.
Payments to Beneficiaries. Any payments due under this Agreement as a result of Executive's death shall be made to Executive's surviving spouse. If Executive is not survived by a spouse, payment shall be made to the persons or entities named by Executive as his beneficiary for payment in a written document provided to the Corporation prior to his death. In the absence of a surviving spouse or any such named beneficiary, payment shall be made to Executive's estate.
Payments to Beneficiaries. (1) The Trustee shall pay the net income of any trust hereunder to the beneficiary to whom such income is directed to be paid, at such times as shall be convenient to such beneficiary and agreed to by the Trustee;
Payments to Beneficiaries. The Trustees shall have power to make any payment to any Beneficiary in such manner as they shall determine including payment into such Beneficiary’s bank account and the Trustees shall be discharged from obtaining a receipt or seeing to the application of such payment.
Payments to Beneficiaries. (a) At the time of the establishment of the Trust, or within 30 days thereafter, the Company shall deliver to the Trustee a schedule (the “Payment Schedule”) which reflects the benefits payable with respect to each Beneficiary, a formula or other instructions acceptable to the Trustee for determining the benefits so payable, the form in which such benefits are to be paid (as provided for or available under the Arrangements), and the date of commencement for payment of such benefits. Except as otherwise provided herein, the Trustee shall make payments to the Beneficiaries in accordance with such Payment Schedule, unless the Company shall have notified the Trustee in writing within a reasonable time before any payment date that the Beneficiary is no longer eligible to receive benefits. Such payments shall also include any net income earned as of the date of each payment upon the Company contributions, made pursuant to Sections 1(a) and 1(e) herein, allocable to each Beneficiary. The Company, as the payroll agent for the Trustee, shall make provisions for the reporting and withholding of any federal, state or local taxes that may be required to be withheld with respect to the payment of benefits pursuant to the terms of the Arrangements and shall pay amounts withheld to the appropriate taxing authorities.
Payments to Beneficiaries. (a) Each month, Tenneco Business Services Inc. or such other person or entity as shall be designated by the Trustees in their sole discretion ("TBS") shall deliver to the Trustees and Packaging (and Tenneco in the case of Fund B) a schedule (the "Payment Schedule") that indicates the amounts payable in respect of each Beneficiary, that provides a formula or other instructions acceptable to the Trustees for determining the amounts so payable, the form in which such amount is to be paid, and the time of commencement for payment of such amounts. Except as otherwise provided herein, the Trustees shall cause the Trust to make payments to the Beneficiaries in accordance with such Payment Schedule, as approved or revised by the Trustees. TBS shall make provision for the reporting and withholding of any federal, state or local taxes that may be required to be withheld with respect to payments made hereunder and shall advise the Trustees of the amounts to be withheld and paid to the appropriate taxing authorities.
Payments to Beneficiaries. (a) Any moneys payable by the Trustee to a Beneficiary under the provisions of this Deed may be paid by cheque that is crossed “non transferable” and made payable to the Beneficiary or their respective agents or other authorised Persons, or may be credited electronically to any bank account nominated by the Beneficiary.
Payments to Beneficiaries. (a) Tenneco Business Services Inc. or such other person or entity as shall be designated by the Trustees in writing in their sole discretion ("TBS") shall prepare for the Trustees a schedule (the "Payment Schedule"), which will be revised from time to time as appropriate, that indicates the amounts payable in respect of each Beneficiary, that provides a formula or other instructions acceptable to the Trustees for determining the amounts so payable, the form in which such amount is to be paid, and the time of commencement for payment of such amounts. Except as otherwise provided herein, the Trustees shall cause the Trust to make payments to the Beneficiaries in accordance with such Payment Schedule, as approved or revised by the Trustees. TBS shall make provision for the reporting and withholding of any federal, state or local taxes that may be required to be withheld with respect to payments made hereunder and shall advise the Trustees in writing of the amounts to be withheld and paid to the appropriate taxing authorities. The Trustees may rely upon the determination of the TBS without independent verification.
Payments to Beneficiaries. (a) Within 60 days after the end of each calendar year beginning with 1998, the Company shall deliver to the Trustee a schedule (the "Payment Schedule") which reflects the benefits payable with respect to each Beneficiary, a formula or other instructions acceptable to the Trustee for determining the benefits so payable, the form in which such benefits are to be paid (as provided for or available under the Arrangements), and the date of commencement for payment of such benefits. Except as otherwise provided herein, the Trustee shall make payments to Beneficiaries in accordance with such Payment Schedule. The Trustee shall make provisions for the reporting and withholding of any federal, state or local taxes that may be required to be withheld with respect to the payment of benefits pursuant to the terms of the Arrangements and shall pay amounts withheld to the appropriate taxing authorities or determine that such amounts have been reported, withheld, and paid by the Company.
Payments to Beneficiaries. (a) Within 60 days after the end of each fiscal year during which the Trust Agreement is in effect, the Company shall deliver to the Trustee a schedule (the "Payment Schedule") that indicates the amounts payable in respect of each Participant (and his or her beneficiaries), that provides a formula or other instructions acceptable to the Trustee for determining the amounts so payable, the form in which such amount is to be paid (as provided for or available under the Plan, and including transfers of Common Stock from the Trust to Participants), and the time of commencement for payment of such amounts. Except as otherwise provided herein, the Trustee shall make payments to Participants and their beneficiaries in accordance with such Payment Schedule.
