TRANSFEROR BENEFICIARY Sample Clauses

TRANSFEROR BENEFICIARY. The beneficial entitlement of each Transferor Beneficiary to Trust Property at any time shall be as follows:- (i) the beneficial entitlement of the Transferor Beneficiary to Principal Receivables which are Eligible Receivables (which shall include Principal Collections in respect of such Receivables which represent Trust Property) shall be equal to its pro rata share of the Transferor Percentage of Principal Receivables which are Eligible Receivables from time to time assigned or purported to be assigned to the Receivables Trust (which shall include Principal Collections in respect of such Receivables which represent Trust Property) PROVIDED, HOWEVER, that the Transferor Percentage shall be calculated for such purpose on the basis that the Investor Percentage of each Series is calculated as the Floating Investor Percentage of such Series; (ii) the beneficial entitlement of each Transferor Beneficiary to Finance Charge Collections shall be equal to its pro rata share of the Transferor Percentage of Finance Charge Receivables from time to time assigned or purported to be assigned to the Receivables Trust; (iii) each Transferor Beneficiary shall be beneficially entitled to its pro rata share of all Ineligible Receivables forming part of the Ineligible Receivables Pool from time to time; and (iv) each Transferor Beneficiary shall be beneficially entitled to its pro rata share of all monies held in the Trust Accounts which represent investment earnings accrued on Permitted Investments made using monies deposited in such Trust Accounts, unless otherwise provided with respect to Additional Trust Accounts in any related Supplement PROVIDED, HOWEVER, without prejudice to the preceding paragraphs, that the beneficial entitlement of each Transferor Beneficiary to any other Trust Property at any time shall be equal to the proportion that its pro rata share of the Transferor Interest bears to the amount of Principal Receivables which are Eligible Receivables from time to time assigned or purported to be assigned to the Receivables Trust. Notwithstanding the beneficial entitlement to Trust Property referred to in (a) to (d) above, (A) except as provided in (B) below, each Beneficiary shall be beneficially entitled to all monies held in any Trust Account from time to time which are expressly segregated by or on behalf of the Receivables Trustee (whether by way of separate Trust Account or ledger entry or otherwise) as allocated to such Beneficiary; (B) the Beneficiaries ...
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TRANSFEROR BENEFICIARY. Executed as a deed for and on behalf of ) THE ROYAL BANK OF SCOTLAND PLC ) by its duly authorised attorney ) in the presence of: ) TRANSFEROR BENEFICIARY Executed as a deed for and on behalf of ) NATIONAL WESTMINSTER BANK PLC ) by its duly authorised attorney ) in the presence of: ) LOAN NOTE ISSUER AND INVESTOR BENEFICIARY Executed as a deed by ) RBS CARDS SECURITISATION FUNDING LIMITED ) by one of its directors ) in the presence of: ) [INSERT NAME OF NEW INVESTOR BENEFICIARY] Executed as a deed by ) [NAME] ) by one of its directors ) in the presence of: ) ADDRESS FOR NOTICE AND PROCESS [INSERT ADDRESS] EXECUTION PAGE FOR BENEFICIARIES DEED
Sample 1
TRANSFEROR BENEFICIARY. The beneficial entitlement of each Transferor Beneficiary to Trust Property at any time shall be as follows:-
Sample 1
TRANSFEROR BENEFICIARY. The beneficial entitlement of the Transferor Beneficiary to Trust Property at any time shall be as follows:- (i) in relation to Undivided Bare Trust Property, excluding Finance Charge Collections, Acquired Interchange and income on Permitted Investments, that proportion which the Transferor Interest bears to the sum of (1) the Combined Adjusted Investor Interests and (2) the Transferor Interest, except that if at any time each of the Combined Adjusted Investor Interests and the Transferor Interest are zero, and the Undivided Bare Trust Property at that time includes Principal Collections, such Principal Collections shall be identified as "Unavailable Principal Collections" and will be held for the Transferor Beneficiary absolutely; and (ii) in relation to Undivided Bare Trust Property which consists of Finance Charge Collections, Acquired Interchange and income on Permitted Investments, the Floating Transferor Percentage for the Monthly Period in which such Finance Charge Collections, Acquired Interchange and income on Permitted Investments arise; (iii) in relation to Ineligibles Bare Trust Property, the Ineligible Receivables subject as provided in Clause 3.1(b) above and all Ineligible Collections related to such Ineligible Receivables; and (iv) in relation to Deferred Consideration Bare Trust Property, as provided in Clause 3.1(d). For the avoidance of doubt, the beneficial entitlement to Trust Property referred to in (a) to (c) above of this Clause 3.2 shall apply in the absence of any more specific provisions and it is hereby declared that each Beneficiary shall also be absolutely beneficially entitled to all Trust Property from time to time which is expressly held on bare trust for the sole benefit of such Beneficiary.
Sample 1

Related to TRANSFEROR BENEFICIARY

  • DEATH OF BENEFICIARY Unless otherwise provided in the Beneficiary designation, if any Beneficiary dies before the Owner, that Beneficiary's interest will go to any other primary Beneficiaries named, according to their respective interests. If there are no primary Beneficiaries, the Beneficiaries' interest will pass to a contingent Beneficiary, if any. Prior to the Annuity Commencement Date, if no Beneficiary or contingent Beneficiary survives the Owner, the Death Benefits will be paid to the Owner's estate. Unless otherwise provided in the Beneficiary designation, once a Beneficiary is receiving Death Benefits or annuity payments under an Annuity Payment Option, the Beneficiary may name his or her own Beneficiary to receive any remaining benefits due under the Contract, should the original Beneficiary die prior to receipt of all benefits. If no Beneficiary is named or the named Beneficiary predeceases the original Beneficiary, any remaining benefits will continue to the original Beneficiary's estate. A Beneficiary designation must be made by Notice to LNY.

  • Contingent Beneficiary While the Annuitant is alive, the Owner may, by written Request, designate or change a Contingent Beneficiary from time to time. The Company shall not be bound by any change of Contingent Beneficiary unless it is made in writing and recorded at the Retirement Resource Operations Center.

  • Designated Beneficiary The individual who is designated as the Beneficiary under the Plan in accordance with Section 401(a)(9) of the Code and the regulations thereunder.

  • How do the RMD Rules Impact my Designated Beneficiary or Beneficiaries The RMD rules provide for the determination of your designated beneficiary or beneficiaries as of September 30 of the year following your death. Consequently, any beneficiary may be eliminated for purposes of calculating the RMD by the distribution of that beneficiary’s benefit, through a valid disclaimer between your death and the end of September following the year of your death, or by dividing your IRA account into separate accounts for each of several designated beneficiaries you may have designated.

  • No Designated Beneficiary If the Participant dies before the date distributions begin and there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, distribution of the Participant’s entire interest will be completed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.

  • Designation of Beneficiary The depositor may designate a beneficiary or beneficiaries to receive benefits from the custodial account in the event of the depositor’s death. In the event the depositor has not designated a beneficiary, or if all beneficiaries shall predecease the depositor, the following persons shall take in the order named: a. The spouse of the depositor; b. If the spouse shall predecease the depositor or if the depositor does not have a spouse, then to the depositor’s estate.

  • Beneficiary The Participant may file with the Committee a written designation of a beneficiary on such form as may be prescribed by the Committee and may, from time to time, amend or revoke such designation.

  • CHANGE OF BENEFICIARY 18.1 The policyholder has the authority to appoint another beneficiary during the life of the insured person.. However, if the beneficiary has declared, with the written consent of the policyholder, that he accepts the benefit of the contract, the policyholder can exercise his rights under the contract only with the cooperation of the beneficiary, who has so accepted. The change will take effect from the moment that the insurer has noted this on the policy.

  • Individual Account An individual account is an account owned by you alone, which you as the account owner use during your lifetime.

  • Survivor Benefit Upon the death of a regular employee who leaves a spouse and/or dependants enrolled in the Medical Services Plan, Dental Plan and Extended Health Benefit Plan, such enrolment may continue for twelve (12) months following the employee’s death, provided the enrolled family members pay the employee’s share of the cost of the premium for the plans. The Employer shall advise the survivor of this benefit.

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