Beneficiary or Beneficiaries Sample Clauses
The 'Beneficiary or Beneficiaries' clause defines the individual(s) or entity(ies) who are entitled to receive benefits, payments, or rights under a contract, policy, or legal instrument. This clause typically specifies the names or categories of beneficiaries and may outline the manner in which benefits are distributed, such as in equal shares or according to a predetermined schedule. Its core practical function is to ensure clarity regarding who is entitled to receive the contractual benefits, thereby preventing disputes and facilitating the proper execution of the agreement's intent.
Beneficiary or Beneficiaries. Description of Consulting Services/Work (the Project) to be Provided:
Beneficiary or Beneficiaries. The person or persons You designate to receive any payments under this Contract when there is no longer a living Annuitant or Joint Annuitant. A Beneficiary who makes a timely election may choose to receive a lump sum instead of any remaining periodic annuity income. Surviving Beneficiaries will receive equal shares unless You specify otherwise. If (1) no Beneficiary survives the Annuitant and the Joint Annuitant (if any), and (2) the Guarantee Period (if any) has not ended, we will provide a lump sum to the estate of the last to die of the Annuitant and the Joint Annuitant. Each Beneficiary receiving annuity income will have the right to instruct us how to vote Fund shares attributable to that income. A Beneficiary may be revocable or irrevocable. You may not change an irrevocable Beneficiary without that Beneficiary's consent. A Beneficiary may be a "Primary Beneficiary" or a "Contingent Beneficiary." No Contingent Beneficiary has the right to proceeds unless all of the Primary Beneficiaries die before proceeds are determined.
Beneficiary or Beneficiaries. 1.06 Board...............................................................................................1.07 Code................................................................................................1.08 Committee...........................................................................................
Beneficiary or Beneficiaries. The person or persons You designate to receive any payments under this Contract when there is no longer a living Annuitant or Joint Annuitant. A Beneficiary who makes a timely election may choose to receive a lump sum instead of any remaining periodic annuity income. Surviving Beneficiaries will receive equal shares unless You specify otherwise. If (1) no Beneficiary survives the Annuitant and the Joint Annuitant (if any), and (2) the Guarantee Period (if any) has not ended, we will provide a lump sum to the estate of the last to die of the Annuitant and the Joint Annuitant. Each Beneficiary receiving annuity income will have the right to instruct us how to vote Fund shares attributable to that income. A Beneficiary may be revocable or irrevocable. You may not change an irrevocable Beneficiary without that Beneficiary's consent. A Beneficiary may be a "Primary Beneficiary" or a "Contingent Beneficiary." No Contingent Beneficiary has the right to proceeds unless all of the Primary Beneficiaries die before proceeds are determined. For Contracts with a Guarantee Period. Each Beneficiary will receive his or her share of annuity income for the remainder of the Guarantee Period if the Annuitant (and the Joint Annuitant, if any) die after the first Annuity Income Date. A Beneficiary who becomes entitled to annuity income may choose instead to receive a lump sum, but only if he or she notifies us within 60 days of the date we receive notice of the death of the last surviving Annuitant. A lump sum will generally be the present value of the annuity income for the remaining guaranteed Annuity Income Dates, based on interest compounded annually at the Benchmark Rate of Return. If a Beneficiary receiving annuity income dies, we will provide to the Beneficiary's estate a lump sum, generally equal to the present value of the annuity income for the remaining guaranteed Annuity Income Dates, based on interest compounded annually at the Benchmark Rate of Return.
Beneficiary or Beneficiaries. For purposes of this Agreement, "beneficiary" or "beneficiaries" shall mean those persons designated by the Employee on the form provided for that purpose by NBC and delivered to NBC prior to Employee's death. In the absence of an effective designation, the beneficiary shall be the Employee's surviving spouse, if any, and if none, then the beneficiary shall be the Employee's surviving lineal descendants, per stirpes, and if there be no surviving spouse or lineal descendants, then his or her estate. The designation may be changed from time to time by the Employee by submitting a revocation of the prior designation in a form accepted by NBC and naming the new beneficiary(ies).
Beneficiary or Beneficiaries. The person or persons designated by the Participant in his Deferred Compensation Agreement who shall receive any benefits payable hereunder in the event of the Participant’s death. If more than one designated Beneficiary survives the Participant, payments shall be made equally to the surviving Beneficiaries, unless otherwise provided in the Deferred Compensation Agreement. If no Beneficiary is designated in the Deferred Compensation Agreement or if no designated Beneficiary survives the Participant, then the estate of the Participant shall be the Beneficiary. However, a Participant may designate a contingent Beneficiary (or Beneficiaries) who shall become the primary Beneficiary (or Beneficiaries under this Plan in the event that no primary Beneficiary survives the Participant.
Beneficiary or Beneficiaries the person or persons designated by a Participant (or automatically by operation of this Plan document) to receive any benefit payable under the terms of this Plan document to a Beneficiary. A person so designated shall not be considered a Beneficiary until the Participant dies.