Security Beneficiary definition

Security Beneficiary means the Agent (for its own account or for the account of another Security Beneficiary), the Secured Party (for its own account or for the account of another Security Beneficiary), each Financier, each Hedge Provider, the Technical Bank, the Working Capital Facility Provider, and each other person the Secured Party and the Borrower agree in writing from time to time is a Security Beneficiary (for its own account or for the account of another Security Beneficiary).
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Security Beneficiary means the Lender and any assignee, novatee or transferee of any of the rights and obligations of the Lender under the Facilities Letters.
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Security Beneficiary shall have the meaning ascribed to such term in the Proceeds Disbursing Agreement.
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Examples of Security Beneficiary in a sentence

  • If you have opened an account for a Protected Person, an Estate, or a Social Security Beneficiary, you, as Fiduciary, understand and agree that the Credit Union may distribute funds pursuant to the terms of the most recently dated Letters of Authority or other documentation on file at the Credit Union, and you, on behalf of the Protected Person, forever indemnify and hold the Credit Union harmless for distributions made in good faith reliance on those Letters of Authority or other documentation.

  • Retirement Savings Plan Please provide copies of the following: Insurance Cards (Medicare Supplement; Medicare D; VA Insurance, if applicable; Medicaid Card, if applicable) Social Security Card Picture ID  Power of Attorney documents Social Security Beneficiary Notice (current year), if Medicaid Value of any owned asset (home, care, land, etc.), if MedicalThe Lexington Assisted Living5550 Pioneers Blvd.

  • No failure on the part of Secured Party or any Security Beneficiary to exercise, and no delay in exercising, any right hereunder or under any other Finance Document shall operate as a waiver thereof; nor shall any single or partial exercise of any such right preclude any other or further exercise thereof or the exercise of any other right.

  • A breach of, or default under, this deed by a Security Beneficiary does not affect any obligation of any Obligor or any other Security Beneficiary to that Security Beneficiary.

  • A person may become a party to this deed as a Security Beneficiary other than pursuant to an assignment, transfer, novation or disposal under and in accordance with clause 8 (Changes to Security Beneficiaries and Security Providers) and (if applicable) clause 1.5 (Dealings with Representatives) of the Security Trust Deed.

  • If you have opened an account for a Protected Person or a Social Security Beneficiary, you, as Fiduciary, understand and agree that the Credit Union may distribute funds pursuant to the terms of the most recently dated Letters of Authority or other documentation on file at the Credit Union, and you, on behalf of the Protected Person, forever indemnify and hold the Credit Union harmless for distributions made in good faith reliance on those Letters of Authority or other documentation.

  • Until all of the Secured Obligations shall have been paid in full, Debtors shall have no right to subrogation and Debtors waive the right to enforce any remedy which Secured Party or any Security Beneficiary has or may hereafter have against any Other Liable Party, and waives any benefit of and any right to participate in any other security whatsoever now or hereafter held by Secured Party.

  • A Security Beneficiary may (and may only) assign, novate or transfer any of its rights and obligations under this deed or the Finance Documents to a successor under and in accordance with clause 8 (Changes to Security Beneficiaries and Security Providers) of the Security Trust Deed.

  • The Powers of a Security Beneficiary to enforce subordination under this clause 4 (Subordination – Shareholder Debt) and the other provisions of this deed are not affected or prejudiced by any act or omission on the part of an Obligor, Holdco 1a or Holdco I.

  • Debtors hereby acknowledge that the Secured Obligations are owed to the various Security Beneficiaries and that each Security Beneficiary is entitled to the benefits of the Liens given under this Agreement.

Related to Security Beneficiary

  • 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.

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

  • 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.

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

  • 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;

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

  • Maturity Benefit means the amount of benefit which is payable on maturity i.e. at the end of the Policy term, as stated at the inception of the Policy contract and specified in the Policy Schedule

  • 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.

  • Disability Benefit means the benefit set forth in Article 8.

  • Social Security Benefit means an amount received by a claimant as a monthly benefit in accordance with the Social Security Act, 42 U.S.C. Sec. 401 et seq.

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

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

  • 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.

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

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

  • Primary Social Security Benefit means, with respect to any member, the primary insurance amount

  • Surviving beneficiary or “surviving descendant” means a beneficiary or a descendant who did not predecease the decedent and is not considered to have predeceased the decedent under section 2702.

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

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Disability benefits means any cash payments which are payable to a covered individual for all or part of a period of disability pursuant to P.L.1948, c.110 (C.43:21-25 et al.).

  • 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.

  • Social Security Benefits means any social insurance, pension insurance benefits, medical insurance benefits, work-related injury insurance benefits, maternity insurance benefits, unemployment insurance benefits and public housing reserve fund benefits or similar benefits, in each case as required by any applicable Law or contractual arrangements.

  • Eligible beneficiary means a resident of this state who:

  • 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.

  • Alternate Payee means a spouse, former spouse, child, or other dependent of a participant, who is designated to be paid retirement benefits in a qualified domestic relations order;

  • 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.