Alternate Payee. A. Pursuant to the provisions of the Assumption of Liability Endorsement, the Reinsurer has agreed that, in lieu of payment to the Company or its receiver, rehabilitator, liquidator, conservator, or other statutory successor, it shall pay valid claims under the Policy directly to the Insured, at the Insured's request, if a Cut Through Triggering Event (as that term is defined in the Assumption of Liability Endorsement) occurs.
Alternate Payee. A. Pursuant to Article 22 - ASSUMPTION OF LIABILITY, each Reinsurer shall make payments of (i) its quota share percentage of any Covered Amounts due to the Original Insured under the Policy, (ii) any late payment fees attributable to the applicable Reinsurer due to the Original Insured under the Policy directly to the Original Insured, (iii) any Terminal Settlement Amount payable by such Reinsurer hereunder and (iv) any True-Up Amount payable by such Reinsurer hereunder, in lieu of payment to the Company, or its receiver, liquidator, or statutory successor, in the event the Original Insured does not otherwise receive payment of any such Covered Amount (or any such late payment fee) or Terminal Settlement Amount or True-Up Amount, as applicable, as and when required under the Policy.
Alternate Payee. A spouse, a former spouse, child or other dependent of a Participant who is assigned under a qualified domestic relations order (as defined by Section 414(p) of the Code) a right to receive all or a portion of the benefits payable with respect to a Participant.
Alternate Payee. 14.01 As respects subject business assumed as reinsurance under this Agreement, it is agreed that if the Company has a conservator, liquidator or receiver appointed for it, or becomes the subject of any conservation, liquidation or insolvency proceeding, and the General Agent exercises its option to require the Company to permit all its liabilities under the Policies reinsured hereunder to be assumed by another licensed insurer as is permitted pursuant to the General Agency Agreement, such assuming insurer shall be substituted for the Company as payee of any reinsurance recoverable hereunder in respect of losses under Policies subject hereto, and the Reinsurer, shall make payment thereof directly to the substituted insurer. In the event of assumption, the Company shall, however, be entitled to any ceding fees and other sums owing hereunder with respect to Policies originally issued on its behalf.
Alternate Payee. A. If the Company becomes insolvent, specific insureds (which shall be explicitly named in an amendment to the Contract) shall be permitted to make direct claim to the Reinsurer subject to all terms and conditions, including but not limited to all retentions and limits, of the Policy and the Contract. The Reinsurer shall have no duty to defend any actions against the named insureds and shall have no liability for amounts due from other Subscribing Reinsurers. In no event shall the provisions of this Article subject the Reinsurer to any additional liability to or on behalf of the Company or its liquidator, receiver, conservator or statutory successor. The Reinsurer reserves the right to set off any outstanding premium against payment in accordance with this Article, before such payment is made.
Alternate Payee. An Alternate Payee must be a spouse, former spouse, child, or other dependent of a Participant.
Alternate Payee. An individual who is designated as an alternate payee in a Qualified Domestic Relations Order (as defined in Code section 414(p) and ERISA section 206(d)) relating to a Participant’s benefits under this Plan shall be treated as a Beneficiary hereunder, to the extent provided by such order.
Alternate Payee. A person designated to receive all or a portion of the Participant’s benefit pursuant to a QDRO. See Section 11.5.
Alternate Payee. If the Grantee designates a party as an Alternate Payee, Alternate Payee is authorized to submit payment requests directly to SANDAG to receive reimbursement for allowable Project costs. This does not alleviate Grantee from all obligations under this Grant Agreement.
Alternate Payee. “Alternate Payee” means any spouse, former spouse, child or other dependent of a Participant who is recognized as such under the definition in Code Section 414(p)(8).
