Transfer of Equitable Interest Sample Clauses

Transfer of Equitable Interest. If an Eligible Member was covered under the gratuity scheme of a previous employer, then the gratuity amount which accrued during his service for that employer may be transferred to the Fund, subject to the Group Gratuity Scheme Rules and the gratuity scheme rules of the previous employer.
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Transfer of Equitable Interest. In respect of a Member who exits and to whom the Gratuity benefits are not payable (as he or she has not completed requisite number of years of Service with the Employer for being eligible to receive the Accrued Gratuity) and the Employer is willing to transfer the Gratuity Amount to the fund of the new employer/organization of such Member, then the amount will be deducted from the Group Policy Holder’s Fund and paid to the fund of the new employer/organization subject to the rules of the funds of both Group Policy Holder and of the new employer / organization. Similarly, Gratuity amounts can be transferred in to the Fund, subject to the Rules of the Fund of both Group Policy Holder and the previous employer
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Transfer of Equitable Interest. If an Eligible Member was covered under a superannuation scheme of a previous employer, then the superannuation amounts which accrued during his service for that employer may be transferred to the Fund, subject to the Scheme Rules and the scheme rules of the previous employer. If a Member exits the Scheme before completing the requisite number of years of service with the Employer, the superannuation amounts which accrued during his service for the Employer may be transferred to the fund of the new employer, subject to the Scheme Rules and the scheme rules of the new employer. In such cases, the amount to the transferred will be deducted from the Fund and paid to the fund of the new employer.
Sample 1
Transfer of Equitable Interest. In respect of a Member who exits and to whom the benefits are not payable (as he or she has not completed requisite number of years of Service with the Employer for being eligible to receive the or for such other reasons as set out in the Trust Deed or the Scheme rules ) and the Employer is willing to transfer the benefit amount to the fund of the new employer/organization of such Member, then the amount will be deducted from the Group Policyholder’s Fund and paid to the fund of the new employer/organization subject to the rules of the Fund of Group Policyholder and fund of the new employer / organization. Similarly, benefit amounts can be transferred in to the Fund, subject to the Rules of the Fund of both Group Policyholder and the previous employer for the purpose of accounting, the above said transfer of amount qualifies for the same treatment as applicable to benefit payout
Sample 1
Transfer of Equitable Interest. If an Eligible Member was covered under the gratuity scheme of a previous employer, then the gratuity amount which accrued during his service for that employer may be transferred to the Fund, subject to the Group Gratuity Scheme Rules and the gratuity scheme rules of the previous employer. This will not be applicable for leave encashment. 6.4 Loyalty Additions Group Policy will be entitled to Loyalty additions, which will be made basis the Scheme Fund Value on a monthly basis. The Loyalty Additions will be calculated on a monthly basis based on the Fund Value at the monthly anniversary and additional units will be created based on the applicable NAV.
Sample 1

Related to Transfer of Equitable Interest

  • Transfer of Membership Interest The Sole Member may Transfer any part or all of its rights and interest (including, but not limited to, its Capital Account) in the Company (each a “Membership Interest”) now owned or hereafter acquired to any Person, and the transferee of such Membership Interest shall become a Member of the Company.

  • Transfer of Interest The Interest is personal property and may be transferred or assigned, in whole or in part, as permitted by the Equityholders Agreement, in the sole discretion of the Member. Notwithstanding anything to the contrary set forth herein, no Interest in the Company may be issued, transferred or pledged in any manner whatsoever except in compliance with all applicable Gaming Licenses and Gaming Laws, except as contemplated by Section 9.2.

  • Transfer of Interest Amount The Transfer of the Interest Amount will be made on the second Local Business Day following the end of each calendar month and on any other Local Business Day on which Posted Collateral in the form of Cash is Transferred to the Pledgor pursuant to Paragraph 3(b); provided, however, that the obligation of Party B to Transfer any Interest Amount to Party A shall be limited to the extent that Party B has earned and received such funds and such funds are available to Party B.

  • Insurable Interest To the extent that Purchaser may have any equitable or insurable interest in the Property, Purchaser will take appropriate steps to protect the same. Notwithstanding the foregoing, should the Property be damaged by calamity after the date hereof, but before Closing, Seller, may, at the Seller’s sole option, declare this Agreement null and void, and, on the return of the Deposit to Purchaser, the parties shall have no further liability to each other.

  • Payable Interest Except as required and provided for by the Florida Local Government Prompt Payment Act, City shall not be liable for interest for any reason, whether as prejudgment interest or for any other purpose, and in furtherance thereof Contractor waives, rejects, disclaims and surrenders any and all entitlement it has or may have to receive interest in connection with a dispute or claim based on or related to this Agreement.

  • Transfer of Assets Sell, transfer, lease, or otherwise dispose of any of its assets, except in the ordinary course of business.

  • Payment and Transfer of Interest Buyer shall pay interest on cash held as Performance Assurance, at the Interest Rate and on the Interest Payment Date. Buyer will transfer to Seller all accrued Interest Amount on the unused cash Performance Assurance in the form of cash by wire transfer to the bank account specified under “Wire Transfer” in Appendix X (Notices).

  • Transfer of Company Title or Interest The Employer’s obligations under this Agreement including Supplements shall be binding upon its successors, administrators, executors and assigns. The Employer agrees that the obligations of this Agreement shall be included in the agreement of sale, transfer or assignment of the business. In the event an entire active or inactive operation, or a portion thereof, or rights only, are sold, leased, transferred or taken over by sale, transfer, lease, assignment, receivership or bankruptcy proceedings, such operation or use of rights shall continue to be subject to the terms and conditions of this Agreement for the life thereof. Transactions covered by this provision include stock sales or exchanges, mergers, consolidations, spin-offs or any other method by which a business is transferred. It is understood by this Section that the signator Employer shall not sell, lease or transfer such run or runs or rights to a third party to evade this Agreement. In the event the Employer fails to require the purchaser, transferee, or lessee to assume the obligations of this Agreement, as set forth above, the Employer (including partners thereof) shall be liable to the Local Union(s) and to the employees covered for all damages sustained as a result of such failure to require the assumption of the terms of this Agreement until its expiration date, but shall not be liable after the purchaser, the transferee or lessee has agreed to assume the obligations of this Agreement. The obligations set forth above shall not apply in the event of the sale, lease or transfer of a portion of the rights comprising less than all of the signator Employer’s rights to a non-signator company unless the purpose is to evade this Agreement. Corporate reorganizations by a signatory Employer, occurring during the term of this Agreement, shall not relieve the signatory Employer or the re-organized Employer of the obligations of this Agreement during its term. When a signator to this Agreement purchases rights from another signator, the provisions of Article 5 shall apply. The applicable layoff provisions of this Agreement shall apply. The Employer shall give notice of the existence of this Agreement to any purchaser, transferee, lessee, assignee, or other entity involved in the sale, merger, consolidation, acquisition, transfer, spin-off, lease or other transaction by which the operation covered by this Agreement or any part thereof, including rights only, may be transferred. Such notice shall be in writing, with a copy to the Local Union, at the time the seller, transferor or lessor makes the purchase and sale negotiation known to the public or executes a contract or transaction as herein described, whichever first occurs. The Local Union shall also be advised of the exact nature of the transaction, not including financial details. The term rights shall include routes and runs.

  • Permitted Transfers Within Escrow 5.1 Transfer to Directors and Senior Officers

  • Transfer of the Property or a Beneficial Interest in Borrower For purposes of this Section 19 only, “Interest in the Property” means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract, or escrow agreement, the intent of which is the transfer of title by Borrower to a purchaser at a future date. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Xxxxxx’s prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, Lender will not exercise this option if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender will give Borrower notice of acceleration. The notice will provide a period of not less than 30 days from the date the notice is given in accordance with Section 16 within which Borrower must pay all sums secured by this Security Instrument. If Xxxxxxxx fails to pay these sums prior to, or upon, the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower and will be entitled to collect all expenses incurred in pursuing such remedies, including, but not limited to: (a) reasonable attorneys’ fees and costs; (b) property inspection and valuation fees; and (c) other fees incurred to protect Xxxxxx’s Interest in the Property and/or rights under this Security Instrument.

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