Beneficiary Rights; No Certification Sample Clauses

Beneficiary Rights; No Certification. Subject to the terms of the Plan, the Confirmation Order and this Agreement, each Beneficiary shall be entitled to participate in the rights and benefits due to a Beneficiary hereunder. Except as expressly provided in this Agreement, the Beneficiaries shall have (a) no title to, right to, possession of, management of or control of the Liquidating Trust or the Liquidating Trust Assets, (b) no right to call for a partition or division of the Liquidating Trust Assets, and (c) no right to require an accounting concerning the Liquidating Trust Assets. Upon the Effective Date, the Liquidating Trust Assets shall vest in the Liquidating Trust in accordance with the Plan, the Confirmation Order and this Agreement, and the sole interest of the Beneficiaries shall be the rights and benefits given to each Beneficiary under the Plan, the Confirmation Order and this Agreement. Unless the Liquidating Trustee determines otherwise, the Liquidating Trust Interests will not be certificated and no security of any sort will be distributed to the Beneficiaries with respect to their Liquidating Trust Interests. In the event that the Liquidating Trustee permits the certification of the Liquidating Trust Interests, the Liquidating Trustee shall, based upon his good faith determination after consultation with counsel, establish procedures to govern such certification. Once such procedures have been established, if ever, the Liquidating Trustee shall notify all Beneficiaries of the procedures.
Sample 1
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Related to Beneficiary Rights; No Certification

  • Beneficiary Rights If the Traditional IRA Owner dies before his or her entire interest is distributed to him or her, the entire remaining interest will be distributed as follows.

  • Third Party Beneficiary Rights The parties do not intend to create in any other individual or entity the status of third party beneficiary and this Contract shall not be construed so as to create such status. The rights, duties and obligations contained in this Contract shall operate only between the parties to this Contract, and shall inure solely to the benefit of the parties to this Contract. The provisions of this Contract are intended only to assist the parties in determining and performing their obligations under this Contract. The parties to this Contract intend and expressly agree that only parties signatory to this Contract shall have any legal or equitable right to seek to enforce this Contract, to seek any remedy arising out of a party's performance or failure to perform any term or condition of this contract, or to bring an action for the breach of this Contract.

  • Absence of Third Party Beneficiary Rights No provision of this Agreement is intended, nor will any provision be interpreted, to provide or to create any third party beneficiary rights or any other rights of any kind in any client, customer, affiliate, shareholder, employee or partner of any party hereto or any other person or entity.

  • No Third Party Beneficiary Rights Nothing in this Agreement shall be construed as creating third-party beneficiary rights in any person or entity, except as otherwise expressly provided in this Agreement.

  • Assignment; No Third Party Beneficiaries 5.2.1 This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole or in part.

  • Subsidiary Rights The Company or one of its Subsidiaries has the unrestricted right to vote, and (subject to limitations imposed by applicable law) to receive dividends and distributions on, all capital securities of its Subsidiaries as owned by the Company or such Subsidiary.

  • 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.

  • Third Party Beneficiary The Holders shall be third party beneficiaries to the agreements made hereunder between the Company and the Guarantors, on the one hand, and the Initial Purchasers, on the other hand, and shall have the right to enforce such agreements directly to the extent they may deem such enforcement necessary or advisable to protect its rights or the rights of Holders hereunder.

  • Entire Agreement; No Third Party Beneficiaries; Rights of Ownership This Agreement (including the documents and the instruments referred to herein) constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof, and is not intended to confer upon any person other than the parties hereto any rights or remedies hereunder.

  • No Assignment; No Third Party Beneficiaries This Agreement and the rights, duties and obligations hereunder may not be assigned or delegated by the Company or BNYMCM. Any purported assignment or delegation of rights, duties or obligations hereunder shall be void and of no effect. This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and their respective successors and, to the extent provided in Article VI, the controlling persons, officers, directors, employees and agents referred to in Article VI. This Agreement is not intended to confer any rights or benefits on any Persons other than as set forth in Article VI or elsewhere in this Agreement.

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