ASSIGNMENT OR PLEDGE Clause Samples

ASSIGNMENT OR PLEDGE. Insurance under this contract may not be assigned or pledged.

ASSIGNMENT OR PLEDGE. For the purposes of paragraphs (f ) and (g), assignment or pledge of any portion of the Participant’s interest in the Plan and a loan, pledge, or assignment with respect to any insurance contract purchased under the Plan, will be treated as a loan.

ASSIGNMENT OR PLEDGE. The Executive's Deferred Compensation Account and any payment payable at any time to this Agreement shall not be assignable or subject to pledge or hypothecation nor shall said payments be subject to seizure for the payment of any debts, judgments, alimony or separate maintenance, or be transferable by operation of law in the event of bankruptcy, insolvency or otherwise except to the extent as provided by law.

ASSIGNMENT OR PLEDGE. Purchaser has the right to assign and/or pledge the option created under this Agreement provided said assignment or pledge does not encumber the Property beyond what is provided for in this Option Agreement.

ASSIGNMENT OR PLEDGE. Payments hereunder may not be assigned or pledge in whole or in part. According to paragraph 146.3 (2) (c) of Income Tax Act (Canada): • The Company has no right of offset as regards the property held in connection with the Fund (see definition below) in respect of any debt or obligation owing to the Company • The property held in connection with the fund cannot be pledged, assigned or in any way alienated as security for a loan or for any purpose other than that of the Company making payments to the Annuitant as described above. Except when the Annuitant’s Spouse becomes the annuitant under the Fund, the Company will, if the Annuitant dies, distribute the property held in connection with the Fund at the time of the Annuitant’s death or an amount equal to the value of such property at that time.

ASSIGNMENT OR PLEDGE. Retirement benefits payable under the Contract may not be assigned or pledged in whole or in part.