Common use of Recovery of Estate Taxes Clause in Contracts

Recovery of Estate Taxes. If the Executive's gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the Executive's estate, then the Executive's estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the Executive's estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company for a lump sum payment in an amount not to exceed the beneficiary's liability hereunder.

Recovery of Estate Taxes. If the ExecutiveDirector's gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the ExecutiveDirector's estate, then the ExecutiveDirector's estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the ExecutiveDirector's estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the ExecutiveDirector's gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company for a lump sum payment in an amount not to exceed the beneficiary's liability hereunder.

Recovery of Estate Taxes. If the Executive's ’s gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the Executive's ’s estate, then the Executive's ’s estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the Executive's ’s estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's ’s gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company for a lump sum payment in an amount not to exceed the beneficiary's ’s liability hereunder.

Recovery of Estate Taxes. If the ExecutiveDirector's gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary Beneficiary is other than the ExecutiveDirector's estate, then the ExecutiveDirector's estate shall be entitled to recover from the beneficiary Beneficiary receiving such benefit under the terms of the Agreement, this Agreement an amount by which the total estate tax due by the ExecutiveDirector's estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the ExecutiveDirector's gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary Beneficiary has a liability hereunder, the beneficiary Beneficiary may petition the Company Bank for a lump sum payment in an amount not to exceed the beneficiaryBeneficiary's liability hereunder.

Recovery of Estate Taxes. If the Executive's Director’s gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the Executive's Director’s estate, then the Executive's Director’s estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the Executive's Director’s estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's Director’s gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company Bank for a lump sum payment in an amount not to exceed the beneficiary's ’s liability hereunder.

Recovery of Estate Taxes. If the Executive's Director’s gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the Executive's Director’s estate, then the Executive's Director’s estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the Executive's Director’s estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's Director’s gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company for a lump sum payment in an amount not to exceed the beneficiary's ’s liability hereunder.

Recovery of Estate Taxes. If the Executive's gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the Executive's ' s estate, then the Executive's estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the Executive's estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company for a lump sum payment in an amount not to exceed the beneficiary's liability hereunder.

Recovery of Estate Taxes. If the Executive's ’s gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the Executive's ’s estate, then the Executive's ’s estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the Executive's ’s estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's ’s gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company for a lump sum payment in an amount not to exceed the beneficiary's ’s liability hereunder.

Recovery of Estate Taxes. If the Executive's gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the Executive's estate, then the Executive's estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the Executive's estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company Employers for a lump sum payment in an amount not to exceed the beneficiary's liability hereunder.

Recovery of Estate Taxes. If the Executive's gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the Executive's estate, then the Executive's estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the Executive's estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company for a lump sum payment in an amount not to exceed the beneficiary's liability hereunder.

Recovery of Estate Taxes. If the Executive's Officer’s gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the Executive's Officer’s estate, then the Executive's Officer’s estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the Executive's Officer’s estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's Officer’s gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company for a lump sum payment in an amount not to exceed the beneficiary's ’s liability hereunder.

Recovery of Estate Taxes. If the ExecutiveDirector's gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the ExecutiveDirector's estate, then the ExecutiveDirector's estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the ExecutiveDirector's estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the ExecutiveDirector's gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company Bank for a lump sum payment in an amount not to exceed the beneficiary's liability hereunder.

Recovery of Estate Taxes. If the Executive's Director’s gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the Executive's Director’s estate, then the Executive's Director’s estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the Executive's Director’s estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's Director’s gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company Bank for a lump sum payment in an amount not to exceed the lesser of the beneficiary's ’s liability hereunderhereunder and the balance remaining in the Deferral Account.

Recovery of Estate Taxes. If the Executive's gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the Executive's estate, then the Executive's estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the Executive's estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company Bank for a lump sum payment in an amount not to exceed the beneficiary's liability hereunder.

Recovery of Estate Taxes. If the Executive's gross estate for federal estate tax purposes includes included any amount determined by reference to and an on account of this Agreement, and if the beneficiary is other than the Executive's estate, then the Executive's estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the Executive's estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company for a lump sum payment in an amount not to exceed the beneficiary's liability hereunder.

Recovery of Estate Taxes. If the Executive's gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the Executive's estate, then the Executive's estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the Executive's estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company Bank for a lump sum payment in an amount not to exceed the beneficiary's liability hereunder.

Recovery of Estate Taxes. If the ExecutiveDirector's gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the ExecutiveDirector's estate, then the ExecutiveDirector's estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, this Agreement an amount by which the total estate tax due by the ExecutiveDirector's estate, estate exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the ExecutiveDirector's gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company for a lump sum payment in an amount not to exceed the beneficiary's liability hereunder.

Recovery of Estate Taxes. If the Executive's gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary Beneficiary is other than the Executive's estate, then the Executive's estate shall be entitled to recover from the beneficiary Beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the Executive's estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary Beneficiary has a liability hereunder, the beneficiary Beneficiary may petition the Company Bank for a lump sum payment in an amount not to exceed the beneficiaryBeneficiary's liability hereunder.

Recovery of Estate Taxes. If the Executive's Director’s gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the Executive's Director’s estate, then the Executive's Director’s estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the Executive's Director’s estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's Director’s gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company Corporation for a lump sum payment in an amount not to exceed the beneficiary's ’s liability hereunder.

Recovery of Estate Taxes. If the Executive's Director’s gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary Beneficiary is other than the Executive's Director’s estate, then the Executive's Director’s estate shall be entitled to recover from the beneficiary Beneficiary receiving such benefit under the terms of the Agreementagreement, an amount by which the total estate tax due by the Executive's Director’s estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's Director’s gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary Beneficiary has a liability hereunder, the beneficiary Beneficiary may petition the Company Bank for a lump sum payment in an amount not to exceed the beneficiary's Beneficiary’s liability hereunder.

Recovery of Estate Taxes. If the Executive's ’s gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the Executive's ’s estate, then the Executive's ’s estate shall be entitled to recover from the beneficiary receiving such benefit under the terms of the Agreement, an amount by which the total estate tax due by the Executive's ’s estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's ’s gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company Bank for a lump sum payment in an amount not to exceed the beneficiary's ’s liability hereunder.

Recovery of Estate Taxes. If the Executive's gross estate for federal estate tax purposes includes any amount determined by reference to and on account of this Agreement, and if the beneficiary is other than the Executive's estate, then the Executive's estate shall be entitled to recover receive from the beneficiary receiving such benefit under the terms of the this Agreement, an amount by which the total estate tax due by the Executive's estate, exceeds the total estate tax which would have been payable if the value of such benefit had not been included in the Executive's gross estate. If there is more than one person receiving such benefit, the right of recovery shall be against each such person. In the event the beneficiary has a liability hereunder, the beneficiary may petition the Company for a lump sum payment in an amount not to exceed the beneficiary's liability hereunder.