New Beneficiary definition

New Beneficiary means the person identified as the ‘New Beneficiary’ in Schedule 2 (Parties and Notice Details).
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New Beneficiary means an individual to whom rights under the Contract have been transferred pursuant to Rule 1700-05-04-.05.
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New Beneficiary means an individual who is an Immediate Family member to whom Contract rights have been transferred.
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Examples of New Beneficiary in a sentence

  • The Beneficiary’s right of claim before the Bank under the Bank Guarantee can be transferred in full or partially by the Beneficiary to a Third Party (hereinafter referred to as a New Beneficiary) only on the basis of the Bank’s prior written consent and the payment of the Commission Fee for transfer of the Bank Guarantee by the Customer, provided that the Agreement and/or the Guarantee Notice stipulate such a right.

  • Assignment and Transfer of Beneficial Interest With effect from the Effective Time: the Existing Beneficiary assigns and transfers all of the Transferred Beneficial Interest to the New Beneficiary, and the New Beneficiary accepts such assignment and transfer; and the Trustee consents to the assignment and transfer of the Transferred Beneficial Interest to the New Beneficiary.

  • The Existing Beneficiary represents and warrants to the New Beneficiary, its successors and assigns that, immediately prior to the Effective Time, it is the sole beneficiary of the GATS Trust and, at the Effective Time, there is assigned and transferred to the New Beneficiary full legal and beneficial title to all of the Transferred Beneficial Interest free and clear of all Security Interests.

  • The Beneficiary’s right of request towards the Bank under the Bank Guarantee can be transferred in full or partially by the Beneficiary to a Third Party (hereinafter referred to as the New Beneficiary) only on the basis of the Bank’s prior written consent and payment by the Customer of the Commission Fee for the transfer of the Bank Guarantee, if the Bank Guarantee Agreement and/or the Guarantee Certificate stipulate the abovementioned authority.

  • Tax Returns and Tax Matters The New Beneficiary shall be responsible for causing to be prepared and filed all tax returns required to be filed by it.

  • Except for its covenants and obligations under this Instrument, the New Beneficiary shall otherwise have no obligations as ‘Beneficiary’ under the GATS Instrument.

  • The New Beneficiary agrees that it will, promptly upon the Trustee’s written request, provide to the Trustee any documentation or other evidence that is reasonably required by the Trustee to comply with Regulatory Laws.

  • Compliance with Regulatory laws The New Beneficiary agrees that it will comply with all Regulatory Laws applicable to it.

  • Assignment and Transfer of Residual Beneficial Interest As soon as reasonably possible after the Effective Time (taking into consideration the location of the relevant Aircraft Equipment from time to time), the Existing Beneficiary agrees to assign and transfer the Residual Beneficial Interest to the New Beneficiary pursuant to a subsequent GATS Transfer Instrument.

  • The New Beneficiary acknowledges and agrees that Trustee may be required by any Applicable Law to withhold a portion of any distribution under the GATS Trust Instrument.


More Definitions of New Beneficiary

New Beneficiary means an individual to whom rights under the contract have been transferred pursuant to Rule 1700-05-01-.08.
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New Beneficiary. “Security Trustee”, “Borrower”, “TCN Entity”, “Agent”, “Arranger”, “Lender”, “Security Provider”, “Telewest UK” and “Creditor” include, where the context admits, their respective successors, permitted assigns, in the case of the Lenders, their assignees and New Lenders, in the case of the Security Trustee such other person as may from time to time be appointed as Security Trustee for the New Beneficiaries pursuant to the terms of the Intercreditor Deed and, in the case of the Agent, such other person as may from time to time be appointed as Agent pursuant to clause 18.11 of the Loan Agreement.
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Related to New Beneficiary

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

  • primary beneficiary means the individual for whose primary benefit the trust is then held.

  • 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.

  • Current beneficiary means a beneficiary that on the date the beneficiary’s qualification is determined is a distributee or permissible distributee of trust income or principal. The term includes the holder of a presently exercisable general power of appointment but does not include a person that is a beneficiary only because the person holds any other power of appointment.

  • 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.