Beneficiary Rights definition

Beneficiary Rights means the Life Beneficiary Rights and the Savings Beneficiary Rights;
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Beneficiary Rights means all rights and/or claims which the Transferor has vis à vis the Life Insurance Company in respect of a Life Insurance Policy or a Life Risk Insurance Policy, under which the Transferor has been appointed by the Borrower as (first) beneficiary (begunstigde) in connection with the relevant Mortgage Receivable.
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Beneficiary Rights means the rights to which the Beneficiaries of this Agreement are entitled, respectively, pursuant to their capacity as beneficiaries, and in connection with their respective interest in the Trust Property.
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Examples of Beneficiary Rights in a sentence

  • As mentioned above, a pledge is in principle an accessory right, so that upon a transfer of the relevant Receivable to the CBC, the CBC will in principle become entitled to (a share in) the pledge, provided that following the waiver of the Beneficiary Rights by the relevant Originator, the Borrower will have become the beneficiary.

  • For this purpose the Beneficiary Rights will, insofar as they will not follow the relevant Eligible Receivable upon assignment, themselves be assigned by the relevant Originator to the CBC by way of silent assignment and be pledged by the CBC to the Trustee by way of silent pledge.

  • With respect to the first alternative, the Issuer has been advised that under Dutch law it is uncertain whether Beneficiary Rights will follow the relevant Eligible Receivable upon assignment thereof to the CBC (and subsequent pledge thereof to the Trustee).

  • As added by Acts 1980, P.L.211, SEC.1. Amended by Acts 1981, P.L.11, SEC.133; P.L.8-1989, SEC.96.

  • Pursuant to the Mortgage Receivables Purchase Agreement, the Seller will assign, to the extent legally possible and required, such Beneficiary Rights to the Issuer and the Issuer will accept such assignment.

  • The Originator has been appointed as beneficiary under the relevant Insurance Policy (the "Beneficiary Rights"), except that in certain cases another beneficiary is appointed who will rank ahead of the Originator, provided that, inter alia, the relevant Insurance Company is irrevocably authorised by such beneficiary to pay the proceeds of the Insurance Policy to the Originator (the "Borrower Insurance Proceeds Instruction").

  • Such data or software may not be released or disclosed to other persons unless permitted by the license.(c) Indemnification and Creation of Third Party Beneficiary Rights.

  • If the CBC or the Security Trustee, as the case may be, will not become beneficiary of the Insurance Policies or the assignment, pledge or the waiver of the Beneficiary Rights is not effective, any proceeds under the Insurance Policies will be payable to the Originator or to another beneficiary rather than to the CBC or the Security Trustee, as the case may be.

  • For this purpose the Beneficiary Rights will, insofar as they will not follow the relevant Eligible Receivable upon assignment, themselves be assigned by the relevant Originator to the CBC by way of silent assignment and be pledged by the CBC to the Trustee by way of undisclosed pledge.

  • The Security Trustee herewith terminates by giving notice (opzegging) its rights of pledge on the Relevant Repurchase Mortgage Receivables listed in Annex 1 to this Deed and any Beneficiary Rights relating thereto created by the Security Trustee Receivables Pledge Agreement.


More Definitions of Beneficiary Rights

Beneficiary Rights has the meaning set forth in the Control Trust Agreement.
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Beneficiary Rights means all [rights / claims] which the [relevant] Seller has vis-à-vis the [relevant Insurance Company / [●]] in respect of an Insurance Policy, under which the [relevant] Seller has been [appointed by the Borrower / insured as beneficiary (begunstigde)] in connection with the relevant Mortgage Receivable;
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Beneficiary Rights means all rights and/or claims which the Transferor has vis-à-vis the Insurance Company in respect of an Insurance Policy, under which the Transferor has been appointed by the Borrower as beneficiary (begunstigde) in connection with the relevant Mortgage Receivable. "Block Voting Instruction" has the meaning ascribed thereto in schedule 1 to the Trust Deed.
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Beneficiary Rights means the rights of the relevant Transferor (and after assignment of such rights to the CBC, the CBC) as beneficiary (begunstigde) under the Life Insurance Policies.
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Beneficiary Rights. The beneficiaries have rights to the trust's benefits (income, principal distributions) as dictated by the trust agreement, but they do not own the assets outright. This separation helps protect the assets from beneficiaries' creditors.
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Related to Beneficiary Rights

  • Beneficiary(ies means the beneficiary(ies) designated by the Participant who are entitled to receive any distributions from the Plan payable upon the death of the Participant.

  • Beneficiary means the person, persons, trust or trusts that have been designated by a Participant in his or her most recent written beneficiary designation filed with the Committee to receive the benefits specified under the Plan upon such Participant’s death or to which Awards or other rights are transferred if and to the extent permitted under Section 10(b) hereof. If, upon a Participant’s death, there is no designated Beneficiary or surviving designated Beneficiary, then the term Beneficiary means the person, persons, trust or trusts entitled by will or the laws of descent and distribution to receive such benefits.

  • Third Party Beneficiary means each of the non-NHS bodies set out in the list attached at Schedule 1, as supplied from time to time by the Authority to the Contractor;

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

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

  • Third Party Beneficiaries has the meaning given to it in Clause 45.1;

  • 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.

  • 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.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • 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.

  • 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.

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

  • Alternate Payee means any spouse, former spouse, child, or other dependent of a Participant who is recognized by a qualified domestic relations order as having a right to receive all, or a portion of, the benefits payable under a Plan with respect to such Participant.

  • Domestic Person means any “United States person” under and as defined in Section 770l(a)(30) of the Code.

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

  • Remainder beneficiary means a person entitled to receive principal when an income interest ends.

  • Spouse means, an individual who,

  • Eligible beneficiary means a resident of this state who:

  • de facto spouse means a person of the opposite sex to the employee who lives with the employee as the husband or wife of the employee on a bona fide domestic basis, although not legally married to that person.