OWNER, BENEFICIARY Sample Clauses

OWNER, BENEFICIARY. GENERAL Before the Maturity Date, the Owner of this Contract shall be the person, persons or entity designated on the Specifications Page or the latest change filed with us. On the Maturity Date, the Annuitant becomes the Owner of this Contract. OWNER The Owner must be a natural person who is primary Owner of the Contract, a custodian, or a trust established for the exclusive benefit of the Annuitant or his or her Beneficiaries. This Contract is established for the exclusive benefit of the Annuitant or his or her beneficiaries. BENEFICIARY The Beneficiary is as designated on the Specifications Page, unless changed. If there is a surviving Owner, that person will be treated as the Beneficiary. If no such Beneficiary is living, the Beneficiary is the Contingent Beneficiary. If no Beneficiary or Contingent Beneficiary is living, the Beneficiary is the estate of the deceased Owner. CHANGE OF OWNER, Subject to the right of an irrevocable Beneficiary, you may change ANNUITANT, BENEFICIARY the Owner or Beneficiary by written request in a form acceptable to us and which is received at our Annuities Service Center. The substitution or addition of any Owner is subject to our underwriting rules in effect at the time of the request and may result in the elimination of the Lifetime Income Amount guarantee and minimum guaranteed death benefit at the date of such change. If approved, any change of Beneficiary will take effect on the date the request is signed. You may not change the Annuitant unless the change is pursuant to a court order. Any change to a new Annuitant will result in the elimination of the Lifetime Income Amount guarantee and minimum guaranteed death benefit. If any Annuitant is changed and any Owner is not an individual, the entire interest in the Contract must be distributed to the Owner within five years of the change. You need not send us the Contract unless we request it. We will not be liable for any payments or actions we take before any change is approved.
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OWNER, BENEFICIARY. OWNER The Owner of this Contract shall be the person, persons or entity designated on the Specifications Page unless otherwise changed by you in writing. If amounts become payable to the Beneficiary under this Contract, the Beneficiary becomes the Owner of this Contract.
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OWNER, BENEFICIARY. OWNER Before the Annuity Commencement Date, the Owner of this Contract shall be the person, persons or entity designated on the Specifications Page or the latest change filed with us. On the Annuity Commencement Date the Annuitant becomes the Owner of this Contract. If amounts become payable to the Beneficiary under this Contract, the Beneficiary becomes the Owner of this Contract. BENEFICIARY The Beneficiary is as designated on the Specifications Page, unless changed. However, if there is a surviving Owner, that person will be treated as the Beneficiary. If no such Beneficiary is living, the Beneficiary is the Contingent Beneficiary. If no Beneficiary or Contingent Beneficiary is living, the Beneficiary is the estate of the deceased Owner. CHANGE OF OWNER, ANNUITANT, Subject to the rights of an irrevocable BENEFICIARY Beneficiary, you may change the Owner, Annuitant, or Beneficiary by written request in a form acceptable to us and which is received at our Annuity Service Office. The Annuitant may not be changed after the Annuity Commencement Date. You need not send us the Contract unless we request it. Any change must be approved by us. If approved, any change of Owner, Annuitant or Beneficiary will take effect on the date the request is signed. We will not be liable for any payments or actions we take before the change is approved. The substitution or addition of any Owner may result in the resetting of the Death Benefit to an amount equal to the Contract Value as of the date of such change. For purposes of subsequent calculations of the Death Benefit, described in Part 10, Death Benefits, Death Benefit Before Maturity Date, we will treat the Contract Value on the date of the change as a Payment made on that date. In addition, all anniversary values, all Payments made and all amounts deducted in connection with partial withdrawals prior to the date of the change of Owner will not be considered in the determination of the Death Benefit. This paragraph will not apply if (a) the individual whose death will cause the Death Benefit to be paid is the same after the change of Owner, or (b) if Ownership is transferred to the Owner's spouse. If any Annuitant is changed and any Owner is not an individual, the entire interest in the Contract must be distributed to the Owner within five years of the change.
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OWNER, BENEFICIARY. OWNER The Owner must be one natural person who is the sole Owner of the Contract and the Annuitant, or a Trust established for the exclusive benefit of the Annuitant or his or her Beneficiaries. The contract is established for the exclusive benefit of the Annuitant or his or her beneficiaries. BENEFICIARY The Beneficiary is as designated on the Specifications Page, unless changed. However, if there is a co-Annuitant, that person will be treated as the Beneficiary upon death of the Annuitant. If no such Beneficiary is living, the Beneficiary is the Contingent Beneficiary. If no Beneficiary or Contingent Beneficiary is living, the Beneficiary is the estate of the deceased Annuitant. CHANGE OF OWNER, Except as permitted under the Death Before ANNUITANT, BENEFICIARY Maturity Date provision, and otherwise permitted under applicable federal tax law, neither the Owner nor the Annuitant may be changed. The co-Annuitant may be removed from the Contract, but no change or addition of co-Annuitant is permitted prior to the Annuity Commencement Date. Only the spouse of the Annuitant is eligible to be named as a co-Annuitant. Subject to the right of an irrevocable Beneficiary, you may change the Beneficiary by written request in a form acceptable to us and which is received at our Annuity Service Office. Any change must be approved by us. If approved, any change of Beneficiary will take effect on the date the request is signed. We will not be liable for any payments or actions we take before the change is approved.
Sample 1
OWNER, BENEFICIARY the Purchaser under the Purchase Contract who purchases Timeshare Inventory in the Timeshare Project pursuant to such Purchase Contract and is thereby designated an Owner Beneficiary under the terms of the Vacation Club Trust Agreement and entitled to exercise Owner Beneficiary Rights with appurtenant Vacation Points. 
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OWNER, BENEFICIARY. The Purchaser under an Owner Beneficiary Agreement who acquires Owner Beneficiary Rights with appurtenant Vacation Points.
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Related to OWNER, BENEFICIARY

  • DEATH OF BENEFICIARY Unless otherwise provided in the Beneficiary designation, if any Beneficiary dies before the Owner, that Beneficiary's interest will go to any other primary Beneficiaries named, according to their respective interests. If there are no primary Beneficiaries, the Beneficiaries' interest will pass to a contingent Beneficiary, if any. Prior to the Annuity Commencement Date, if no Beneficiary or contingent Beneficiary survives the Owner, the Death Benefits will be paid to the Owner's estate. Unless otherwise provided in the Beneficiary designation, once a Beneficiary is receiving Death Benefits or annuity payments under an Annuity Payment Option, the Beneficiary may name his or her own Beneficiary to receive any remaining benefits due under the Contract, should the original Beneficiary die prior to receipt of all benefits. If no Beneficiary is named or the named Beneficiary predeceases the original Beneficiary, any remaining benefits will continue to the original Beneficiary's estate. A Beneficiary designation must be made by Notice to LNY.

  • Contingent Beneficiary While the Annuitant is alive, the Owner may, by written Request, designate or change a Contingent Beneficiary from time to time. The Company shall not be bound by any change of Contingent Beneficiary unless it is made in writing and recorded at the Retirement Resource Operations Center.

  • Beneficiary The Participant may file with the Committee a written designation of a beneficiary on such form as may be prescribed by the Committee and may, from time to time, amend or revoke such designation.

  • No Designated Beneficiary If the Participant dies before the date distributions begin and there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, distribution of the Participant’s entire interest will be completed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.

  • Designated Beneficiary Upon the death of the Owner or Joint Owner, the Designated Beneficiary will be the first person on the following list who is alive on the date of death:

  • CHANGE OF BENEFICIARY The Owner may change any Beneficiary unless otherwise provided in the previous designation by providing a Notice to change beneficiary. A change of Beneficiary will revoke any previous designation. When a change of Beneficiary is received by LNY, whether or not the Owner is then alive, it will take effect as of the date the request was sent. For purposes of determining on which date a written change of Beneficiary is sent, the postmark date will be used. Any payment made or action taken or allowed before the change of Beneficiary is received will be without prejudice to LNY. LNY reserves the right to request the Contract for endorsement of the change.

  • Designation of Beneficiary Notwithstanding anything to the contrary contained herein or in the Plan, following the execution of this Award Agreement, you may expressly designate a beneficiary (the “Beneficiary”) to your interest, if any, in the Restricted Shares awarded hereby. You shall designate the Beneficiary by completing and executing a designation of beneficiary agreement substantially in the form attached hereto as Exhibit D (the “Designation of Beneficiary”) and delivering an executed copy of the Designation of Beneficiary to the Company.

  • No Other Beneficiaries This Agreement is intended for the sole and exclusive benefit of the parties hereto and their respective successors and controlling persons, and no other person, firm or corporation shall have any third-party beneficiary or other rights hereunder.

  • Designation of Beneficiaries The Executive may designate any person to receive any benefits payable under the Agreement upon the Executive’s death, and the designation may be changed from time to time by the Executive by filing a new designation. Each designation will revoke all prior designations by the Executive, shall be in the form prescribed by the Administrator and shall be effective only when filed in writing with the Administrator during the Executive’s lifetime. If the Executive names someone other than the Executive’s spouse as a Beneficiary, the Administrator may, in its sole discretion, determine that spousal consent is required to be provided in a form designated by the Administrator, executed by the Executive’s spouse and returned to the Administrator. The Executive’s beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Executive or if the Executive names a spouse as Beneficiary and the marriage is subsequently dissolved.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

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