Beneficiary Interest definition

Beneficiary Interest means the beneficial interest of a Beneficiary in this Trust created pursuant to this Agreement and shall include each Class A Interest and Class B Interest.
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Beneficiary Interest means any Aggregate Investor Interest or Transferor Interest and, in addition, any beneficial interest of the Enhancement Provider (if specified as a Beneficiary in the related Supplement);
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Beneficiary Interest is defined in Section 19.1(b)(i) of the Lease.
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Examples of Beneficiary Interest in a sentence

  • Any Beneficiary who shall assign all of his Interests shall cease to be a Beneficiary and shall no longer have any of the rights or privileges of a Beneficiary, except that unless and until a Substitute Beneficiary is admitted in his place such assigning Beneficiary shall retain any statutory rights of an assignor of a Beneficiary Interest under the Business Trust Act.

  • No Assignment shall be deemed to constitute an Assignment of a Beneficiary's entire Beneficiary Interest unless the provisions of Section 9.3 are satisfied in full.

  • A Transferee who desires to make a further Assignment of his Beneficiary Interest shall be subject to the provisions of this Section 9.2 to the same extent and in the same manner as the prior assignor.

  • Subject to compliance with this Agreement, the Special Beneficiary may withdraw from the Trust by assigning or otherwise transferring its Special Beneficiary Interest upon the express written consent of the Managing Trustee.

  • The Special Beneficiary acknowledges and agrees that the payment of 86.5% of the fair market value of any portion of its Special Beneficiary Interest which has been transferred shall be full payment for such Special Beneficiary Interest.

  • To the extent of such retained Special Beneficiary Interest, if any, such Special Beneficiary or its estate or legal representatives shall be treated as a Trust Beneficiary.

  • Transferees shall be recognized as Assignees monthly, as of the first day of the calendar month in which the notice of assignment and other required documentation are received and accepted by the Managing Trustee; provided, however, that if an Assignee makes a subsequent Assignment of his Beneficiary Interest in the same calendar month, he shall not be recognized as an Assignee with respect to such Beneficiary Interest for any purpose.

  • Subject to compliance with this Agreement, a Beneficiary may withdraw from the Trust only by assigning or otherwise transferring his Beneficiary Interest specified in this Article IX.

  • Once the Special Beneficiary shall assign all of its Special Beneficiary Interest, the Special Beneficiary shall cease to be a Trust Beneficiary and shall no longer have any of the rights or privileges of a Trust Beneficiary, except that unless and until a Substitute Special Beneficiary is admitted in its place such assigning Special Beneficiary shall retain any statutory rights of an assignor of a Special Beneficiary Interest under the Business Trust Act.

  • The Special Beneficiary hereby covenants and agrees, in the event of the Resignation or Removal of the Managing Trustee pursuant to Section 4.8 or 11.3, to transfer to a Substitute Managing Trustee selected as provided in Section 4.8 or Section 4.12 or to the Trust, such portion, if any, of its Special Beneficiary Interest as the Substitute Managing Trustee or the Trust shall elect to purchase.


More Definitions of Beneficiary Interest

Beneficiary Interest means a Beneficiary Interest as defined in Article 2, Paragraph 7 of the Trust Act.
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Related to Beneficiary Interest

  • Beneficiary(ies means the individual or individuals designated in the Application by the Subscriber(s) to whom, or on whose behalf, Educational Assistance Payments are agreed to be paid, provided such individual qualifies under the Applicable Legislation and the Plan at the time such payments are made;

  • primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of Section 8.3, a Qualified Entity is a member of each Family Group to which such one or more Qualified Trusts that are its equity holders belong.

  • Income beneficiary means a person to whom net income of a trust is or may be payable.

  • Pecuniary Interest means the opportunity, directly or indirectly, to profit or share in any profit derived from a transaction in securities.

  • Beneficiary means each designated person, or the estate of the deceased Executive, entitled to benefits, if any, upon the death of the Executive, determined according to Article 4.

  • Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.

  • Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined:

  • Refund beneficiary means an individual nominated by a qualified participant or a former qualified participant under section 66 to receive a distribution of the participant's accumulated balance in the manner prescribed in section 67.

  • Book-Entry Interest means a beneficial interest in a Global Certificate, ownership and transfers of which shall be maintained and made through book entries by a Clearing Agency as described in Section 9.4.

  • Initial Beneficiary means ALF LLC, as initial beneficiary under the Titling Trust Agreement and its permitted successors and assigns.

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Financial Beneficiary means any Principal of the Developer or Applicant entity who receives or will receive any direct or indirect financial benefit from a Development, except as further described in Rule 67-21.0025, F.A.C.

  • Trust Interest means an account owner's interest in the trust created by a participating trust

  • Partnership Interest means an interest in the Partnership, which shall include the General Partner Interest and Limited Partner Interests.

  • Qualified Beneficiaries has the meaning set forth in Section 4.12.

  • Subsidiary REMIC Interest Any one of the Subsidiary REMIC Interests or the SR-A-R Interest.

  • Disclosable Pecuniary Interest means an interest of yourself, or of your partner if you are aware of your partner's interest, within the descriptions set out in Table 1 below.

  • land reform beneficiary , in relation to a property, means a person who -

  • Beneficiary Designation Form means the form established from time to time by the Plan Administrator that the Executive completes, signs and returns to the Plan Administrator to designate one or more Beneficiaries.

  • Eligible beneficiary means a resident of this state who:

  • Former Spouse means the individual who is considered by Applicable Laws to be the Annuitant’s former spouse or common-law partner;

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Member Interest means an equity interest of a Member in the Company and includes any and all benefits to which such Member is entitled as provided in this Agreement, together with all obligations of such Member pursuant to the terms and provisions of this Agreement.

  • Beneficiary designation means the naming in a governing instrument of a beneficiary of an insurance or annuity policy, of an account with POD designation, of a security registered in beneficiary form (TOD), of a pension, profit-sharing, retirement, or similar benefit plan, or of another nonprobate transfer at death.

  • Eligible owner means an owner of an attached or a detached single-family

  • Beneficiaries means any Person to whom the Issuer is or hereafter becomes indebted or liable.