Common use of Unclaimed Benefits Clause in Contracts

Unclaimed Benefits. The Director shall keep the Bank informed of the Director’s current address and the current address of the Beneficiary. If the location of the Director is not made known to the Bank within three years after the date upon which any payment of any benefits may first be made, the Bank shall delay payment of the Director’s benefit payment(s) until the location of the Director is made known to the Bank; however, the Bank shall only be obligated to hold such benefit payment(s) for the Director until the expiration of three (3) years. Upon expiration of the three (3) year period, the Bank may discharge its obligation by payment to the Beneficiary. If the location of the Beneficiary is not made known to the Bank by the end of an additional two (2) month period following expiration of the three (3) year period, the Bank may discharge its obligation by payment to the Director’s estate. If there is no estate in existence at such time or if such fact cannot be determined by the Bank, the Director and Beneficiary shall thereupon forfeit all rights to any benefits provided under this Agreement.

Unclaimed Benefits. The Director shall keep the Bank informed of the Director’s current address and the current address of the Beneficiary. If the location of the Director is not made known to the Bank within three years after the date upon which any payment of any benefits may first be made, the Bank shall delay payment of the Director’s benefit payment(s) benefits until the location of the Director is made known to the Bank; however, the Bank shall only be obligated to hold such benefit payment(s) benefits for the Director until the expiration of three (3) years. Upon expiration of the three (3) year period, the Bank may discharge its obligation by payment to the Beneficiary. If the location of the Beneficiary is not made known to the Bank by the end of an additional two (2) month period following expiration of the three (3) year period, the Bank may discharge its obligation by payment to the Director’s estate. If there is no estate in existence at such time or if such fact cannot be determined by the Bank, the Director and Beneficiary shall thereupon forfeit all rights to any benefits provided under this Agreement.

Unclaimed Benefits. The Director shall keep the Bank informed of the Director’s current address and the current address of the Beneficiary. If the location of the Director is not made known to the Bank within three years after the date upon which any payment of any benefits may first be made, the Bank shall delay payment of the Director’s benefit payment(s) until the location of the Director is made known to the Bank; however, the Bank shall only be obligated to hold such benefit payment(s) for the Director until the expiration of three (3) years. Upon expiration of the three (3) year period, the Bank may discharge its obligation by payment to the Beneficiary. If the location of the Beneficiary is not made known to the Bank by the end of an additional two (2) month period following expiration of the three (3) year period, the Bank may discharge its obligation by payment to the Director’s estate. If there is no not estate in existence at existence at such time or if such fact cannot be determined by the Bank, the Director and Beneficiary shall thereupon forfeit all rights to any benefits provided under this Agreement.

Unclaimed Benefits. The Director Executive shall keep the Bank Company informed of the DirectorExecutive’s current address and the current address of the Beneficiary. If the location of the Director Executive is not made known to the Bank Company within three years after the date upon which any payment of any benefits may first be made, the Bank Company shall delay payment of the DirectorExecutive’s benefit payment(s) until the location of the Director Executive is made known to the BankCompany; however, the Bank Company shall only be obligated to hold such benefit payment(s) for the Director Executive until the expiration of three (3) years. Upon expiration of the three (3) year period, the Bank Company may discharge its obligation by payment to the Beneficiary. If the location of the Beneficiary is not made known to the Bank Company by the end of an additional two (2) month period following expiration of the three (3) year period, the Bank Company may discharge its obligation by payment to the DirectorExecutive’s estate. If there is no estate in existence at such time or if such fact cannot be determined by the BankCompany, the Director Executive and Beneficiary shall thereupon forfeit all rights to any benefits provided under this Agreement.