Common use of Rights of Beneficiaries Clause in Contracts

Rights of Beneficiaries. Each Beneficiary shall be entitled to participate in the rights and benefits due to a Beneficiary hereunder according to his Beneficial Interest. Each Beneficiary shall take and hold the same subject to all the terms and provisions of this Agreement. The interest of the Beneficiary hereby is declared and shall be in all respects personal property and upon the death of an individual Beneficiary, his Beneficial Interest shall pass as personal property to his legal representative and such death shall in no way terminate or affect the validity of this Agreement, provided that the Liquidating Trustee shall not be required to evidence a book entry transfer of a deceased Beneficiary’s Beneficial Interest to his legal representative until the Liquidating Trustee shall have received Letters Testamentary or Letters of Administration and written notice of the death of the deceased Beneficiary. A Beneficiary shall have no title to, right to, possession of, management of, or control of, Investment Trust D’s Liquidating Trust Assets except as herein expressly provided. No widower, widow, heir, or devisee of any person who may be a Beneficiary shall have any right of dower, homestead, or inheritance, or of partition, or of any other right, statutory or otherwise, in any property forming a part of Liquidating Trust Assets but the whole title to Investment Trust D’s Liquidating Trust Assets shall be vested in the Liquidating Trustee and the sole interest of the applicable Beneficiaries shall be the rights and benefits given to such Persons under this Agreement.

Rights of Beneficiaries. Each Beneficiary shall be entitled to participate participation in the rights and benefits due to a Beneficiary hereunder according to his or her Beneficial Interest. Each Beneficiary shall take and hold the same subject to all the terms and provisions of this AgreementAgreement of Trust. The interest Beneficial Interest of the each Beneficiary is hereby is declared and shall be in all respects personal property and upon the death of an individual Beneficiary, Beneficiary his or her Beneficial Interest shall pass as personal property to his or her legal representative and such death shall in no way not terminate or affect the validity of this Agreement, provided that the Liquidating Trustee shall not be required to evidence a book entry transfer of a deceased Beneficiary’s Beneficial Interest to his legal representative until the Liquidating Trustee shall have received Letters Testamentary or Letters of Administration and written notice of the death of the deceased Beneficiary. A Beneficiary shall have no title to, right to, possession of, management of, or control of, Investment Trust D’s the Liquidating Trust Assets Estate except as herein expressly provided. No widower, widow, heir, or devisee of or any person who may be a Beneficiary shall have any right of dower, homestead, or inheritance, or of partition, or of any other right, statutory or otherwise, in any property whatever forming a part of the Liquidating Trust Assets Estate, but the whole title to Investment Trust D’s all the Liquidating Trust Assets Estate shall be vested in the Liquidating Trustee Trustees and the sole interest of the applicable Beneficiaries shall be the rights and benefits given to such Persons persons under this AgreementAgreement of Trust. The Beneficiaries will be treated as the grantors and deemed owners of the Liquidating Trust, and they will be treated for federal income tax purposes as owning undivided interests in its assets.

Rights of Beneficiaries. Each ------------------------- Beneficiary shall be entitled to participate in the rights and benefits due to a Beneficiary hereunder according to his Beneficial Interest. Each Beneficiary shall take and hold the same subject to all the terms and provisions of this Agreement. The interest of the Beneficiary hereby is declared and shall be in all respects personal property and upon the death of an individual Beneficiary, his Beneficial Interest shall pass as personal property to his legal representative and such death shall in no way terminate or affect the validity of this Agreement, provided that the Liquidating Trustee shall not be required to evidence a book entry transfer of a deceased Beneficiary’s 's Beneficial Interest to his legal representative until the Liquidating Trustee shall have received Letters Testamentary or Letters of Administration and written notice of the death of the deceased Beneficiary. A Beneficiary shall have no title to, right to, possession of, management of, or control of, Investment Trust D’s B's Liquidating Trust Assets except as herein expressly provided. No widower, widow, heir, or devisee of any person who may be a Beneficiary shall have any right of dower, homestead, or inheritance, or of partition, or of any other right, statutory or otherwise, in any property forming a part of Liquidating Trust Assets but the whole title to Investment Trust D’s B's Liquidating Trust Assets shall be vested in the Liquidating Trustee and the sole interest of the applicable Beneficiaries shall be the rights and benefits given to such Persons under this Agreement.

Rights of Beneficiaries. Each Beneficiary shall be entitled to participate in the rights and benefits due to a Beneficiary hereunder according to his Beneficial Interestand the Plan. Each Beneficiary shall take and hold the same its Beneficial Interest subject to all in the terms and provisions of this AgreementAgreement and the Plan. The Beneficial Interests shall not be certificated and shall not be transferable, assignable, pledged or hypothecated in whole or in part. No Beneficiary shall have legal title to any part of the Liquidating Trust Assets. Any such transfer shall not be effective. The interest of a Beneficiary of the Beneficiary hereby Liquidating Trust is declared and shall be in all respects personal property property, and upon the death death, insolvency or incapacity of an individual Beneficiary, his such Beneficiary’s Beneficial Interest shall pass as personal property to his the legal representative and of such death shall in no way terminate or affect the validity of this Agreement, provided that the Liquidating Trustee shall not be required to evidence a book entry transfer of a deceased Beneficiary’s Beneficial Interest to his legal representative until the Liquidating Trustee shall have received Letters Testamentary or Letters of Administration and written notice of the death of the deceased Beneficiary. A Beneficiary shall have no title to, or any right toto possess, possession ofmanage or control, management ofthe Liquidating Trust Assets, or control ofany portion thereof or interest therein, Investment Trust D’s Liquidating Trust Assets except as herein expressly providedprovided herein. No widowersurviving spouse, widow, heir, heir or devisee of any person who may be a deceased Beneficiary shall have any right of dower, homestead, homestead or inheritance, or of partition, or of any other right, statutory or otherwise, in any property forming a part of the Liquidating Trust Assets Assets, but the whole title to Investment Trust D’s all the Liquidating Trust Assets shall be vested in the Liquidating Trustee Trust Administrator and the sole interest of the applicable Beneficiaries shall be the rights and benefits given provided to such Persons persons under this AgreementAgreement and the Plan.

Rights of Beneficiaries. Each Beneficiary shall be entitled to participate in the rights and benefits due to a Beneficiary hereunder according to his Beneficial Interest. Each Beneficiary shall take and hold the same subject to all the terms and provisions of this Agreement. The interest of the Beneficiary hereby is declared and shall be in all respects personal property and upon the death of an individual Beneficiary, his Beneficial Interest shall pass as personal property to his legal representative and such death shall in no way terminate or affect the validity of this Agreement, provided that the Liquidating Trustee shall not be required to evidence a book entry transfer of a deceased Beneficiary’s Beneficial Interest to his legal representative until the Liquidating Trustee shall have received Letters Testamentary or Letters of Administration and written notice of the death of the deceased Beneficiary. A Beneficiary shall have no title to, right to, possession of, management of, or control of, Investment Trust DC’s Liquidating Trust Assets except as herein expressly provided. No widower, widow, heir, or devisee of any person who may be a Beneficiary shall have any right of dower, homestead, or inheritance, or of partition, or of any other right, statutory or otherwise, in any property forming a part of Liquidating Trust Assets but the whole title to Investment Trust DC’s Liquidating Trust Assets shall be vested in the Liquidating Trustee and the sole interest of the applicable Beneficiaries shall be the rights and benefits given to such Persons under this Agreement.. 3.3

Rights of Beneficiaries. Each Beneficiary shall be entitled to participate participation in the rights and benefits due to a Beneficiary hereunder according to his Beneficial Interest. Each Beneficiary shall take and hold the same subject to all the terms and provisions of this AgreementAgreement of Trust. The interest Beneficial Interest of the each Beneficiary is hereby is declared and shall be in all respects personal property and upon the death of an individual Beneficiary, Beneficiary his Beneficial Interest shall pass as personal property to his legal representative and such death shall in no way not terminate or affect the validity of this Agreement, provided that the Liquidating Trustee shall not be required to evidence a book entry transfer of a deceased Beneficiary’s Beneficial Interest to his legal representative until the Liquidating Trustee shall have received Letters Testamentary or Letters of Administration and written notice of the death of the deceased Beneficiary. A Beneficiary shall have no title to, right to, possession of, management of, or control of, Investment Trust D’s the Liquidating Trust Assets Estate except as herein expressly provided. No widower, widow, heir, or devisee of or any person who may be a Beneficiary shall have any right of dower, homestead, or inheritance, or of partition, or of any other right, statutory or otherwise, in any property whatever forming a part of the Liquidating Trust Assets Estate, but the whole title to Investment Trust D’s all the Liquidating Trust Assets Estate shall be vested in the Liquidating Trustee Trustees and the sole interest of the applicable Beneficiaries shall be the rights and benefits given to such Persons persons under this AgreementAgreement of Trust. The Beneficiaries will be treated as the grantors and deemed owners of the Liquidating Trust, and they will be treated for federal income tax purposes as owning undivided interests in its assets.

Rights of Beneficiaries. Each Beneficiary shall be entitled to participate participation in the rights and benefits due to a Beneficiary hereunder according to his Beneficial Interest. Each Beneficiary shall take and hold the same subject to all the terms and provisions of this AgreementAgreement of Trust. The interest Beneficial Interest of the each Beneficiary is hereby is declared and shall be in all respects personal property and upon the death of an individual Beneficiary, Beneficiary his Beneficial Interest shall pass as personal property to his legal representative and heirs, as applicable, and such death shall in no way not terminate or affect the validity of this Agreement, provided that the Liquidating Trustee shall not be required to evidence a book entry transfer of a deceased Beneficiary’s Beneficial Interest to his legal representative until the Liquidating Trustee shall have received Letters Testamentary or Letters of Administration and written notice of the death of the deceased Beneficiary. A Beneficiary shall have no title to, right to, possession of, management of, or control of, Investment Trust D’s the Liquidating Trust Assets Estate except as herein expressly provided. No widower, widow, heir, or devisee of or any person who may be a Beneficiary shall have any right of dower, homestead, or inheritance, or of partition, or of any other right, statutory or otherwise, in any property whatever forming a part of the Liquidating Trust Assets Estate, but the whole title to Investment Trust D’s all the Liquidating Trust Assets Estate shall be vested in the Liquidating Trustee and the sole interest of the applicable Beneficiaries shall be the rights and benefits given to such Persons persons under this AgreementAgreement of Trust. The Beneficiaries will be treated as the grantors and deemed owners of the Liquidating Trust for federal income tax purposes, and they will be treated for federal income tax purposes as owning undivided interests in its assets.

Rights of Beneficiaries. Each Beneficiary shall be entitled to participate in the rights and benefits due to a Beneficiary hereunder according to his Beneficial Interest. Each Beneficiary shall take and hold the same subject to all the terms and provisions of this Agreement. The interest of the Beneficiary hereby is declared and shall be in all respects personal property and upon the death of an individual Beneficiary, his Beneficial Interest shall pass as personal property to his legal representative and such death shall in no way terminate or affect the validity of this Agreement, provided that the Liquidating Trustee shall not be required to evidence a book entry transfer of a deceased Beneficiary’s Beneficial Interest to his legal representative until the Liquidating Trustee shall have received Letters Testamentary or Letters of Administration and written notice of the death of the deceased Beneficiary. A Beneficiary shall have no title to, right to, possession of, management of, or control of, Investment Trust DC’s Liquidating Trust Assets except as herein expressly provided. No widower, widow, heir, or devisee of any person who may be a Beneficiary shall have any right of dower, homestead, or inheritance, or of partition, or of any other right, statutory or otherwise, in any property forming a part of Liquidating Trust Assets but the whole title to Investment Trust DC’s Liquidating Trust Assets shall be vested in the Liquidating Trustee and the sole interest of the applicable Beneficiaries shall be the rights and benefits given to such Persons under this Agreement.