Series A Beneficiary definition

Series A Beneficiary means one or more beneficiaries of the Series A Trust as determined pursuant to Section 9(i), provided that each such organization must be described in Section 501(c)(3) of the Code and contributions to each such organization must be eligible for deduction under each of Sections 170(b)(1)(A), 2055 and 2522 of the Code.
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Series A Beneficiary means the beneficiary of the Series A Trust as determined pursuant to Section 5(j)(xv) of this Article V.
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Examples of Series A Beneficiary in a sentence

  • Any net sales proceeds in excess of the amount payable to the Prohibited Series A Owner shall be immediately paid to the Series A Beneficiary.

  • Upon such sale, the interest of the Series A Beneficiary in the shares sold shall terminate and the Series A Trustee shall distribute the net proceeds of the sale to the Prohibited Series A Owner and to the Series A Beneficiary as provided in this Section 9(g).

  • The designation of a nonprofit organization as a Series A Beneficiary shall not entitle such nonprofit organization to serve in such capacity and the Corporation may, in its sole discretion, designate a different nonprofit organization as the Series A Beneficiary at any time and for any or no reason.

  • The Corporation may pay the amount of such reduction to the Series A Trustee for the benefit of the Series A Beneficiary.

  • Upon such a sale to the Corporation, the interest of the Series A Beneficiary in the shares sold shall terminate and the Series A Trustee shall distribute the net proceeds of the sale to the Prohibited Series A Owner.

  • The Company may pay the amount of such reduction to the Series A Trustee for the benefit of the Series A Beneficiary.

  • The Trustee shall have all voting rights and rights to dividends or other distributions with respect to shares of Series A Preferred Stock held in the Series A Trust, which rights shall be exercised for the exclusive benefit of the Series A Beneficiary.

  • Any dividend or other Distribution so paid over to the Series A Trustee shall be held in trust for the Series A Beneficiary.

  • Any dividends or other Distributions so paid over to the Series A Trustee shall be held in trust for the Series A Beneficiary.

  • Upon such a sale to the Company, the interest of the Series A Beneficiary in the shares sold shall terminate and the Series A Trustee shall distribute the net proceeds of the sale to the Prohibited Series A Owner.

Related to Series A Beneficiary

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

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

  • 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.

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

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

  • 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.

  • 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.

  • 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.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

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

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

  • 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.

  • 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.

  • 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.

  • Spouse means, an individual who,

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.