Common use of Death Clause Clause in Contracts

Death Clause. Should a participant die while enrolled in the Plan, any moneys accumulated, plus interest accrued at the date of death, will be paid to his/her estate. Every agreement entered into under Article 12.8.2.5 shall state that moneys paid to the estate of an employee under this section are a "right or thing" within the meaning of the Canadian Income Tax Act and shall be taxable as income in the year of the employee's death in accordance with the Canadian Income Tax Act.

Death Clause. Should a participant die participantdie while enrolled in the Plan, any moneys accumulatedmoneysaccumulated, plus interest accrued at the date of death, will be paid to his/her estate. Every agreement entered into under Article 12.8.2.5 shall state that moneys paid to the estate of an employee under this section are a "right or thing" within the meaning of the Canadian Income Tax Act TaxAct and shall be taxable as income in the year of the employee's death in accordance with the Canadian Income Tax Act.

Death Clause. Should a participant die while enrolled in the Plan, any moneys accumulated, plus interest accrued at the date of death, will be paid to his/her estate. Every agreement entered into under Article 12.8.2.5 shall state that moneys paid to the estate of an employee under this section are a "right or thing" within the meaning of the Canadian Income Tax Act and shall be taxable as income in the year of the employee's death in accordance with the Canadian Income Tax Act.Act.‌

Death Clause. Should a participant die while enrolled in the Plan, any moneys accumulated, plus interest accrued at the date of death, will be paid to his/her estate. Every agreement entered into under Article 12.8.2.5 shall state that moneys paid to the estate of an employee under this section are a "“right or thing" ” within the meaning of the Canadian Income Tax Act and shall be taxable as income in the year of the employee's ’s death in accordance with the Canadian Income Tax Act.