Rights of Payees Sample Clauses

Rights of Payees. The Payees have the right to receive the annuity payments set forth under this Certificate. Such right to annuity payments is enforceable by the Payees solely against Prudential and no other person including the Plan, Plan sponsor, Contract-Holder or any affiliate thereof.
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Rights of Payees. In the election of a Payment Option the right can be given to the Payee: . To withdraw principal and interest under the Fourth or Fifth Option; or . To withdraw the commuted value of payments certain under the First, Second, or Sixth Option. Payments under the Life Income Options cannot be commuted, except for payments certain. No Payee can assign, anticipate, commute or withdraw the payments under any Payment Option, unless the right is reserved in the election of the Option.
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Rights of Payees. A Payee under the First Variable Payment Option has the right to withdraw the commuted value of payments certain. A Payee under the Fourth or Fifth Variable Payment Option has the right to withdraw the value of any remaining Accumulation Units. After the death of the Payee under the Second of Third Variable Payment Option or the surviving Payee under the Sixth Variable Payment Option, a Payee named to receive any unpaid payments certain can withdraw the commuted value of the payments certain. In the election of a Fixed Payment Option the right can be given to the payee to withdraw all or part of the principal and interest under the Fourth or Fifth Option. No Payee can assign, anticipate or withdraw the payments under any Fixed Payment Option, unless the right is reserved in the election of the Option. Payments in One Sum. Amounts payable in one sum will be payable: . As of the Surrender Date in case of surrender; . As of the Death Valuation Date in case of the death of the Annuitant prior to the Maturity Date; . As of the Maturity Date in case of maturity; . As of the date the request is received by the Company at its Home Office in case of request for withdrawal of amounts under Payment Options; or -------------------------------------------------------------------------------- V11 . As of the date proof of death of the Payee is received by the Company at its Home Office in case of an amount to be paid in one sum at the death of the Payee. An amount payable in one sum will be paid within 7 days of the date it is payable, subject to the Suspension of Payments provision.
Sample 1
Rights of Payees. In the election of a Payment Option the right can be given to the Payee: . To withdraw principal and interest under the Fourth or Fifth Option; or . To withdraw the commuted value of payments certain under the First, Second or Sixth Option. Payments under the Life Income Options cannot be commuted, except for payments certain. No Payee can assign, commute or withdraw the payments under any Payment Option, unless the right is reserved in the election of the Option. Limitations If installments under an Option are less than $20, proceeds can be applied to a Payment Option only with the consent of the Company.
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Related to Rights of Payees

  • Rights of Parties (a) Notwithstanding any provision of this Lease to the contrary, Tenant will not, either voluntarily or by operation of law, assign, sublet, encumber, or otherwise transfer all or any part of Tenant's interest in this lease, or permit the Premises to be occupied by anyone other than Tenant, without Landlord's prior written consent, which consent shall not unreasonably be withheld in accordance with the provisions of Section 9.1(b). No assignment (whether voluntary, involuntary or by operation of law) and no subletting shall be valid or effective without Landlord's prior written consent and, at Landlord's election, any such assignment or subletting or attempted assignment or subletting shall constitute a material default of this Lease. Landlord shall not be deemed to have given its consent to any assignment or subletting by any other course of action, including its acceptance of any name for listing in the Building directory. To the extent not prohibited by provisions of the Bankruptcy Code, 11 U.S.C. Section 101 et seq. (the "Bankruptcy Code"), including Section 365(f)(1), Tenant on behalf of itself and its creditors, administrators and assigns waives the applicability of Section 365(e) of the Bankruptcy Code unless the proposed assignee of the Trustee for the estate of the bankrupt meets Landlord's standard for consent as set forth in Section 9.1(b) of this Lease. If this Lease is assigned to any person or entity pursuant to the provisions of the Bankruptcy Code, any and all monies or other considerations to be delivered in connection with the assignment shall be delivered to Landlord, shall be and remain the exclusive property of Landlord and shall not constitute property of Tenant or of the estate of Tenant within the meaning of the Bankruptcy Code. Any person or entity to which this Lease is assigned pursuant to the provisions of the Bankruptcy Code shall be deemed to have assumed all of the obligations arising under this Lease on and after the date of the assignment, and shall upon demand execute and deliver to Landlord an instrument confirming that assumption.

  • Rights of Participants Any participant in a Lender's interests hereunder may assert any claim for yield protection under Section 4.03 that it could have asserted if it were a Lender hereunder. If such a claim is asserted by any such participant, it shall be entitled to receive such compensation from the Borrower as a Lender would receive in like circumstances; provided, however, that with respect to any such claim, the Borrower shall have no greater liability to the Lender and its participant, in the aggregate, than it would have had to the Lender alone had no such participation interest been created.

  • Rights of Use of the results and of pre-existing rights by the NA and the Union The beneficiaries grant the NA and the Union the following rights to use the results of the project:

  • Limitations on Rights of Participants A Participant shall not be entitled to receive any greater payment under Section 2.12 or 2.13 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 2.14 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 2.14(e) as though it were a Lender.

  • Rights of Agent (1) In administering the Credit, the Agent may retain, at the expense of the Lenders if such expenses are not recoverable from the Borrower, such solicitors, counsel, auditors and other experts and agents as the Agent may select, in its sole discretion, acting reasonably and in good faith after consultation with the Lenders.

  • Limitations on Rights of Third Parties The provisions of this Agreement are solely for the benefit of the Seller, the Issuer, the Indenture Trustee (for the benefit of the Secured Parties) and the other Persons expressly referred to herein, and such Persons shall have the right to enforce the relevant provisions of this Agreement. Nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in the Recovery Property or under or in respect of this Agreement or any covenants, conditions or provisions contained herein.

  • Rights of Contribution The Guarantors agree among themselves that, in connection with payments made hereunder, each Guarantor shall have contribution rights against the other Guarantors as permitted under applicable law. Such contribution rights shall be subordinate and subject in right of payment to the obligations of such Guarantors under the Loan Documents and no Guarantor shall exercise such rights of contribution until all Obligations have been paid in full and the Commitments have terminated.

  • Rights of Agents It is understood and agreed that the Agents shall have the same rights and powers hereunder (including the right to give such instructions) as the other Lenders and may exercise such rights and powers, as well as their rights and powers under other agreements and instruments to which they are or may be party, and engage in other transactions with the Loan Parties, as though they were not the Agents. Each Agent and their respective Affiliates may accept deposits from, lend money to, and generally engage in any kind of commercial or investment banking, trust, advisory or other business with the Loan Parties and their Affiliates as if it were not an Agent thereunder.

  • Rights of Survivorship Unless otherwise stated on the Account Card or documented through the Credit Union’s online application and authentication process, a joint account includes rights of survivorship. This means that when one (1) owner dies, all sums in the account will pass to the surviving owner(s). For a joint account without rights of survivorship, the deceased owner’s interest passes to his or her estate. A surviving owner’s interest is subject to the Credit Union’s statutory lien for the deceased owner’s obligations and to any security interest or pledge granted by a deceased owner, even if a surviving owner did not consent to it.

  • Rights of Others I understand that the Company is now and may hereafter be subject to non-disclosure or confidentiality agreements with third persons which require the Company to protect or refrain from use of proprietary information. I agree to be bound by the terms of such agreements in the event I have access to such proprietary information.

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