Common use of Purpose of the Plan Clause in Contracts

Purpose of the Plan. The Plan will be operated exclusively for the benefit of the Beneficiary under the Plan. The Beneficiary’s designation is irrevocable and no right of the Beneficiary to receive payments from the Plan is capable of surrender or assignment.

Purpose of the Plan. The Plan will be operated exclusively for the benefit of the Beneficiary under the Plan. The Beneficiary’s 's designation is irrevocable and no right of the Beneficiary to receive payments from the Plan is capable of surrender or assignment.

Purpose of the Plan. The Plan will be operated exclusively for the benefit of the Beneficiary under the Plan. The Beneficiary’s designation is irrevocable and no right of the Beneficiary to receive payments from the Plan is capable of surrender may be surrendered or assignmentassigned.