Payment of the benefit Sample Clauses
The 'Payment of the benefit' clause defines the obligation and process for disbursing a specified benefit, typically in the context of insurance or employee benefits. It outlines when and how the benefit will be paid, such as upon the occurrence of a qualifying event like death, disability, or retirement, and may specify the method of payment and any required documentation. This clause ensures that beneficiaries understand the conditions and procedures for receiving payments, thereby providing clarity and reducing disputes over benefit entitlements.
Payment of the benefit. If when employment termination occurs the Executive is a specified employee within the meaning of section 409A of the Internal Revenue Code of 1986, as amended, and applicable guidance thereunder (“Code Section 409A”), if the cash severance benefit under section 1(a) would be considered deferred compensation under Code Section 409A, and finally if an exemption from the six-month delay requirement of Code Section 409A(a)(2)(B)(i) is not available, payment of the benefit under section 1(a) shall be delayed and shall be made to the Executive in a single lump sum without interest on the first day of the seventh month after the month in which the Executive’s employment terminates.
Payment of the benefit. If when employment termination occurs the Executive is a specified employee within the meaning of section 409A of the Internal Revenue Code of 1986, if the cash severance benefit under section 1(a) would be considered deferred compensation under section 409A, and finally if an exemption from the six-month delay requirement of section 409A(a)(2)(B)(i) is not available, payment of the benefit under
section 1(a) shall be delayed and shall be made to the Executive in a single lump sum without interest on the first day of the seventh month after the month in which the Executive’s employment terminates. References in this Agreement to section 409A of the Internal Revenue Code of 1986 include rules, regulations, and guidance of general application issued by the Department of the Treasury under Internal Revenue Code section 409A.
Payment of the benefit will at all times be subject to production of information and evidence satisfactory to us. This may include:
i) evidence through examination(s) of the assured by a medical examiner appointed by us;
ii) evidence by means of a blood test or other recognised process that, in the event of a claim in respect of lymphoma or ▇▇▇▇▇▇’s sarcoma, the assured is not carrying a human immunodeficiency type virus or antibodies to such a virus;
iii) any other medical investigation considered appropriate by our Chief Medical Officer, and iv) sight of the assured’s medical records.
Payment of the benefit. The Takaful Operator is liable to the Member if the Member is the one paying the Contribution. The Participant shall notify the Takaful Operator of any indebtedness due and owing by the Member to the Participant. The Takaful Operator shall deduct the amount due and owing to the Participant and pay the balance of the amount of benefit directly to the Member or any person entitled through the Member. If the Participant is paying the contribution, then the payment of benefit will be made to the Participant.
Payment of the benefit will at all times be subject to production of information and evidence satisfactory to us. This may include evidence through examination(s) of the child by a medical examiner appointed by us, a blood test, or any other medical investigation considered appropriate by our Chief Medical Officer, and sight of medical records concerning the child. Full details on how to make a claim can be found in condition 8 page 15
Payment of the benefit. The insured capital shall be paid to the insured person in a single payment through the Contracting Party, after consolidation of the total and irreversible loss of autonomy, where this has been caused by an accident resulting in either the total loss of use of two upper or lower limbs, or total and incurable blindness. In all other cases, six months after consolidation of the total and irreversible loss of autonomy, the Company shall start paying the insured capital in monthly instalments, through the Contracting Party, either to the insured person, or to the insured person’s legal representative. There shall be twenty-four monthly instalments, the amount of each being equal to one twenty-fourth part of the capital in respect of death for which the insured person was covered at the time of the accident or illness causing the total and irreversible loss of autonomy. However, in the event of the death of the insured person while in a state of total and irreversible loss of autonomy, the Company shall pay the monthly instalments still outstanding, through the Contracting Party, if appropriate, in a single payment, to the beneficiaries of the insurance in the event of death. Insurance cover in the event of death shall cease on the date of consolidation of the total and irreversible loss of autonomy.
Payment of the benefit. 1. The Implementing Organisation will pay the benefit to the beneficiary every month, subject to withholding of the statutory mandatory deductions.
2. The beneficiary will receive an annual statement of the benefit paid from the Implementing Organisation.