Common use of Request for Distribution Clause in Contracts

Request for Distribution. Distribution from the Custodial Account shall be made by the Sponsor only to a Participant, his designated Benefi- ciary or Alternate Payee. No purported sale, transfer, pledge or assignment by the Participant, his spouse or Beneficiary of all or any part of an interest in the Custodial Account shall be recognized by the Sponsor except as provided herein. The interest of a Participant, his spouse or Beneficiary

Request for Distribution. Distribution from the Custodial Account shall be made by the Sponsor only to a Participant, his designated Benefi- ciary or Alternate Payee. No purported sale, transfer, pledge or assignment by the Participant, his spouse or Beneficiary of all or any part of an interest in the Custodial Account shall be recognized by the Sponsor except as provided herein. The interest of a Participant, his spouse or Beneficiaryinterest