Advances by Beneficiary Sample Clauses

Advances by Beneficiary. In the event of any default in the performance of any of Grantor's covenants or agreements contained in this Deed of Trust or any other Loan Document or the violation of any term thereof, Beneficiary shall have the right (but in no event the obligation) at its option after notice to Grantor to cure the default or take any other action Beneficiary deems necessary or desirable to protect its security (including without limitation the payment of any taxes, assessments, insurance premiums, charges, liens or encumbrances required of Grantor under this Deed of Trust), without thereby waiving any rights or remedies otherwise available to Beneficiary. If Beneficiary shall elect to advance at any time any sum(s) for the protection of its security or for any other reason permitted or provided by any of the terms of this Deed of Trust or any other Loan Document, then such sum(s) shall be deemed Obligations, shall be repaid by Grantor on demand, shall be secured by this Deed of Trust and shall bear interest until paid at the lesser of the nondefault interest rate provided for in the Note plus five percent (5%) per annum, or at the highest rate allowed by applicable law, commencing on the date they are advanced by Beneficiary. Beneficiary's lien on, and security interest in, the Collateral for such advances shall be superior to any right or title to, interest in, or claim upon all or any portion of the Collateral junior to the lien of this Deed of Trust.
Sample 1
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Advances by Beneficiary. If Trustor shall fail to pay any taxes, assessments, expenses or charges, or to keep all of the Trust Property free from liens and claims of liens, or to keep and maintain and repair the Trust Property, or to procure and maintain insurance thereon, or to do any other thing required of Trustor, all as herein provided, Beneficiary at its option, but without any obligation so to do, may advance the necessary monies to pay the same or to accomplish said maintenance and repairs or to procure and maintain such insurance and all such monies so advanced shall be added to the indebtedness secured hereby, and shall bear interest at the default rate set forth in the Note, from the date of such advance. All such advancements shall be due and payable by Trustor to Beneficiary upon demand and, should Trustor fail to repay to Beneficiary any such advancements as herein required immediately after demand for payment of same, Beneficiary may, at its option, declare all sums secured by this Deed of Trust to be immediately due and payable and may avail itself of any and all remedies provided herein for default.
Sample 1
Advances by Beneficiary. If Grantor shall fail to comply with the provisions with respect to the securing of insurance, payment of taxes, assessments, and other charges, the keeping of the Mortgaged Property in repair, or any other term or covenant herein contained, Beneficiary may, but shall not be obligated to, incur such expenses as deemed necessary by Beneficiary, and make advances to perform such provisions, terms or covenants, and where necessary enter the Mortgaged Property for the purpose of performing any such term or covenant. Beneficiary is further empowered, but not obligated, to make advances for any expenditure deemed advisable by Beneficiary for the preservation of the Mortgaged Property or for the continuation of the operation thereof. Grantor agrees to repay all sums so advanced or expended, and all expenses incurred by Beneficiary in connection with the exercise of any of its rights under this Deed of Trust, upon demand, with interest from the date such advances or expenditures are made, determined on the same basis as matured principal in the Note and all sums so advanced or expended, with interest, shall be secured hereby.
Sample 1
Advances by Beneficiary. At any time and from time to time during the ------------------------- term of this Deed of Trust, Beneficiary may incur and/or pay and/or advance costs or expenses: [i] incurred or advanced by Beneficiary which Beneficiary is authorized or has the right (but not necessarily the obligation) to incur or may incur under any term of any Loan Document or any law; [ii] of whatever nature incurred or advanced by Beneficiary in exercising any right or remedy provided by any term of any Loan Document or in taking any action which Beneficiary is authorized to take by any term of any Loan Document; [iii] required to be paid by Trustor by any term of any Loan Document, but which Trustor fails to pay upon demand; or [iv] any and all costs and expenses from which Trustor is required to hold Beneficiary harmless by any term of any Loan Document, but from which Trustor fails to hold Beneficiary harmless. Any reasonable costs, expenses, or advances incurred or paid by Beneficiary shall become part of the loan and, upon demand, shall be paid to Beneficiary together with interest thereon at the default rate specified in the Note from the date of disbursement by Beneficiary. Payment of such costs, expenses, or advances shall be secured by this Deed of Trust. 7.2
Sample 1
Advances by Beneficiary. The Beneficiary may, but is not obligated to, pay any sum or perform any other obligation for the account of the City or the Corporation which either of them has failed to pay or perform, and sums so spent by the Beneficiary shall be added to the principal sum secured by this Deed of Trust and be repayable by the Corporation on demand, and shall bear interest from the date of advance by the Beneficiary at four percentage points over the annual rate of interest from time to time applicable to the Bond or the highest rate of interest permitted by law, whichever is less.
Sample 1

Related to Advances by 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.

  • 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.

  • Designation of Beneficiary The depositor may designate a beneficiary or beneficiaries to receive benefits from the custodial account in the event of the depositor’s death. In the event the depositor has not designated a beneficiary, or if all beneficiaries shall predecease the depositor, the following persons shall take in the order named:

  • Payments to Beneficiary If the Executive dies before receiving amounts to which the Executive is entitled under this Agreement, such amounts shall be paid in a lump sum to the beneficiary designated in writing by the Executive, or if none is so designated, to the Executive’s estate.

  • ANNUITY BENEFIT Payments under an Annuity Benefit will be made monthly. You may elect instead to have the Annuity Benefit paid at other intervals, such as every three months, six months, or twelve months, instead of monthly, subject to our rules at the time of your election or as otherwise stated in the Data Pages or any Endorsement attached hereto. This election may be made at the time the Annuity Benefit form as described in Section 8.04 is elected. In that event, all references in this Contract to monthly payments, with respect to the Annuity Benefit to which the election applies, will be deemed to mean payments at the frequency elected.

  • 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.

  • Payments to Plan Participants and Their Beneficiaries (a) Company shall deliver to Trustee a schedule (the "Payment Schedule") that indicates the amounts payable in respect of each Plan participant (and his or her beneficiaries), that provides a formula or other instructions acceptable to Trustee for determining the amounts so payable, the form in which such amount is to be paid (as provided for or available under the Plan), and the time of commencement for payment of such amounts. Except as otherwise provided herein, Trustee shall make payments to the Plan participants and their beneficiaries in accordance with such Payment Schedule. The Trustee shall make provision for the reporting and withholding of any federal, state or local taxes that may be required to be withheld with respect to the payment of benefits pursuant to the terms of the Plan and shall pay amounts withheld to the appropriate taxing authorities or determine that such amounts have been reported, withheld and paid by Company.

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