MANNER OF PAYMENT FOR PAYMENTS MADE AFTER YOUR DEATH Sample Clauses

MANNER OF PAYMENT FOR PAYMENTS MADE AFTER YOUR DEATH. After your death, Required Payments Under Section 72(s)(2)(B) will continue to the Beneficiary/Successor Owner at least as rapidly as while you were living, and the Annuity Account Value must be depleted by the end of the period certain that is measured by your life expectancy period. Required Payments Under Section 72(s)(2)(B) may continue to serial Beneficiaries/Successor Owners until the Annuity Account Value falls to zero, including through single sum withdrawals described in the next paragraph. The Beneficiary/Successor Owner may elect alternatively to withdraw the Annuity Account Value in a single sum and thereby terminate this Inherited NQ Contract. Where you have named multiple Beneficiaries/Successor Owners, the Annuity Account Value will be divided into shares described in Section 6.01 as of the date the first claim of any Beneficiary/Successor Owner is processed, as described in Section 6.02. Subject to Section 5.02 of this Endorsement, the proportionate shares of payments will continue to be made to each Beneficiary/Successor Owner for the remaining payment period; however each Beneficiary/Successor Owner is eligible to terminate the Beneficiary/Successor Owner’s share of this Inherited NQ Contract and receive instead a share of the Annuity Account Value in a single sum under either the Beneficiary NQ Stretch Option or the [“Income Edge Beneficiary Advantage] Payment Program”. The Inherited NQ Payment Anniversary Date remains the same for each Beneficiary/Successor Owner electing to continue to receive scheduled payments under this Inherited NQ Contract. If you die after this Contract is issued, but before we make the first payment of the Annuity Benefit Under this Endorsement, we will pay the Annuity Account Value to the Beneficiary/Successor Owner in a single sum. Before we make this single sum payment, the Beneficiary/Successor Owner may elect alternatively to take the Annuity Benefit Under this Endorsement over the period certain that applied to you. Application of your Annuity Account Value to the [Income Edge Beneficiary Advantage] Payment Program are subject to the minimum amount requirement shown in Section 7B.01 for each Beneficiary/Successor Owner who elects to do so. 2021INHNQ-IE-Z
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Related to MANNER OF PAYMENT FOR PAYMENTS MADE AFTER YOUR DEATH

  • Death After Termination of Employment But Before Benefit Payments Commence If the Executive is entitled to benefit payments under this Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay the benefit payments to the Executive's beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's death.

  • Non-Duplication of Payment or Benefits For purposes of clarity, in the event of a Qualifying Pre-CIC Termination, any severance payments and benefits to be provided to the Executive under Section 3(b) will be reduced by any amounts that already were provided to the Executive under Section 3(a). Notwithstanding any provision of this Agreement to the contrary, if the Executive is entitled to any cash severance, continued health coverage benefits, or vesting acceleration of any equity awards (other than under this Agreement) by operation of applicable law or under a plan, policy, contract, or arrangement sponsored by or to which any member of the Company Group is a party (“Other Benefits”), then the corresponding severance payments and benefits under this Agreement will be reduced by the amount of Other Benefits paid or provided to the Executive.

  • Termination of Payments Upon the breach by Employee of any covenant under this paragraph 8, Employer shall cease all payments to Employee and may offset and/or recover from Employee immediately any and all amounts payable to Employee under this Agreement against any damages to which Employer is legally entitled in addition to any and all other remedies available to Employer under the law or in equity.

  • Termination of Payment Fund Any portion of the Payment Fund (including any interest received with respect thereto) that remains undistributed to the holders of Common Shares for one year after the Effective Time shall be delivered to Parent (or its designee), and any holder of Common Shares who has not theretofore complied with this Article II shall thereafter look only to Parent (subject to abandoned property, escheat or other similar Laws) for payment of its claim for Merger Consideration without any interest thereon.

  • Payments after Death Any distribution or delivery to be made to the Participant under this Agreement will, if the Participant is then deceased, be made to the Participant’s designated beneficiary, or if no beneficiary survives the Participant, administrator or executor of the Participant’s estate. Any such transferee must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer.

  • Distributions on Account of Separation from Service If and to the extent required to comply with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of the Executive’s employment shall be made unless and until the Executive incurs a “separation from service” within the meaning of Section 409A.

  • Death After Separation from Service But Before Benefit Distributions Commence If the Executive is entitled to benefit distributions under this Agreement, but dies prior to the commencement of said benefit distributions, the Bank shall distribute to the Beneficiary the same benefits that the Executive was entitled to prior to death except that the benefit distributions shall commence within thirty (30) days following receipt by the Bank of the Executive’s death certificate.

  • Compensation Following Termination In the event that Executive’s employment hereunder is terminated, Executive shall be entitled only to the following compensation and benefits upon such termination:

  • PAYMENT OF DEATH BENEFIT The Company will require due proof of death before any death benefit is paid. Due proof of death will be:

  • Basis of Payment of Benefits Direct payment by the Insurer is the basis of payment of benefits under this Agreement, with those benefits in turn being based on the payment of premiums as provided in this Agreement.

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