Common use of Payments to Beneficiaries Clause in Contracts

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. For the purposes of this Agreement, Beneficiaries shall mean the person or persons person designated by the Employee in writing on forms furnished by the BankInstitution. Such Employee may then from time to time change the designated Beneficiaries by written notice to the BankInstitution, 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. For the purposes of this Agreement, Beneficiaries shall mean the person or persons designated by the Employee in writing on forms furnished by the BankInstitution. Such Employee may then from time to time change the designated Beneficiaries by written notice to the BankInstitution, 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 proper designated Beneficiary exists, then for the purposes purpose 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.