Common use of Commutation Clause in Contracts

Commutation. The governing in- strument must prohibit commutation (prepayment) of the term holder’s in- terest.

Appears in 4 contracts

Sources: Internal Revenue Service Regulations, Property Division Agreement, Property Conversion Agreement

Commutation. The governing in- strument must prohibit commutation (prepayment) of the term interest of the holder’s in- terest.

Appears in 2 contracts

Sources: Property Division Agreement, Property Conversion Agreement