Common use of Irregular Payments Clause in Contracts

Irregular Payments. Should the income paid to the Annuitant during a Fiscal year of the Fund exceed the maximum amount that may be paid to the Annuitant in accordance with the provisions of the Regulation or this Agreement, the Annuitant may, unless the payment is attributable to a false declaration by the Annuitant, require that the Trustee pay the Annuitant, as a penalty, a sum equal to the surplus income paid.

Irregular Payments. Should If the income paid to the Annuitant during a Fiscal year Year of the Fund exceed exceeds the maximum amount that may be paid to the Annuitant he can receive in accordance with the provisions of the Regulation or this Agreement, the Annuitant may, unless the this payment is attributable related to a false declaration by the Annuitanton his part, require that the Trustee pay the Annuitanthim or her, as a penalty, a sum an amount equal to the surplus excess income paid.