The Beneficiaries Sample Clauses
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The Beneficiaries. All present and future Directors and all “Beneficiaries” of the Original Trust Agreement and/or the Amended and Restated 2003 Indemnification Trust Agreement who were “Beneficiaries” of such trusts as Directors shall be “Beneficiaries” of this Trust (and each a “Beneficiary”), provided, however, that if there is a Change in Control of Grantor, no directors elected or appointed after or in connection with such Change in Control shall be entitled to be Beneficiaries who were not Beneficiaries prior to such Change in Control. For purposes of this Agreement, “Change of Control” shall mean (a) a tender offer or exchange offer in which the purpose of such offer is to take over and control Grantor and such offer is accepted by owners of securities of Grantor representing 50% or more of the combined voting power of Grantor’s then outstanding voting securities, (b) Grantor is merged or consolidated with another corporation and as a result of such merger or consolidation less than 50% of the outstanding voting securities of the surviving or resulting corporation shall then be owned in the aggregate by the former shareholders of Grantor, (c) Grantor transfers substantially all of its assets to another corporation which is not a wholly-owned subsidiary of Grantor, or (d) during any period of twelve (12) consecutive months, individuals who at the beginning of such twelve (12) month period were directors of Grantor cease for any reason to constitute at least a majority of Grantor’s Board of Directors. The Beneficiaries’ Representative shall promptly notify the Trustee in writing of a Change in Control. Any Beneficiary shall remain a Beneficiary despite his or her resignation, removal, or other failure to continue to be a member of Grantor’s Board of Directors during the term of this Agreement. A person whose conduct gives rise to a right of indemnification both as a member of the Board of Directors and as an Officer of Grantor, shall be a Beneficiary hereunder as to all such conduct without being required to separate his or her activities between the role of Director and the role of Officer.
The Beneficiaries. The Beneficiaries of the Trust are the holders of record of shares of common stock of Grantor as of ______________, 2004 and their permitted successors and assigns. The beneficial interest of a Beneficiary shall be transferable only pursuant to the provisions of Section 6.2. Each Beneficiary shall be deemed to hold the number of units of beneficial ownership (“Units”) equal to the number of issued and outstanding shares of common stock of Grantor held of record as of ____________by that Beneficiary.
The Beneficiaries. The beneficiaries of the Trust (each, a "Beneficiary") shall be all past, present and future members of the Board of Directors and all past, present and future officers of the Company, provided, however, that if there is a Change in Control of Grantor, no director elected or appointed after or in connection with such Change in Control shall be entitled to be a Beneficiary who was not a Beneficiary prior to such Change in Control and no officer appointed after or in connection with such Change in Control shall be entitled to be a Beneficiary who was not a Beneficiary prior to such Change in Control. Grantor shall promptly notify the Beneficiaries' Representative and the Trustee of a Change in Control. The Beneficiaries' Representative may also notify the Trustee of a Change in Control, and the Trustee shall be entitled to rely upon any notice of a Change in Control delivered to it by either Grantor or the Beneficiaries' Representative. Any individual who is or becomes a Beneficiary shall remain a Beneficiary despite his or her resignation, removal, or other failure to continue to be an officer, director, agent or employee of Grantor or any of its subsidiaries or any other relevant enterprise during the term of this Agreement.
The Beneficiaries. The beneficiary is specify in writing on the insurance contract by the Insured who can made changes in every moment in the insurance certificate with written or in his will. The date of entrees in force, the change of the Beneficiaries requires the written consent of the Insured. If that date is not written on his requires this change will be available on the date that the Insurer receive inform from the Insured. When the Insured dies or announce as disappear person and in the same time he didn’t written the Beneficiary in the insurance certificate, then, the beneficiary will be to the rightful heir according to the final decision of the court based on the heritage provided by the low.
The Beneficiaries. The Service Provider shall provide the Services specified in the Contract to the Client or to natural persons designated by the Client, at its sole discretion (hereinafter referred to as the Beneficiaries, Beneficiaries and Client together: the Client). At the time of signing the Contract, the Client shall specify the Beneficiaries in an annex to the Contract, which shall constitute an integral part of the Contract. The Client may, at its sole discretion, change the list of Beneficiaries, provided that the Client observes the procedure set out in the GTC. The Client shall have the right and shall be obliged to inform the Beneficiaries of the scope of the Services and the conditions for access thereto. To facilitate such information, the Service Provider may provide the Client with special information materials and may also send such materials directly to the Beneficiaries. Said materials shall not be regarded as a part of the Contract, they are only aimed at informing about the Services.
The Beneficiaries. Any Beneficiary may assign or otherwise dispose of all or any of its rights under this Deed to any person or party Controlled by, under common Control with or Controlling such Beneficiary; provided, however, any assignment or disposition of the rights under this Deed by the HK SPV shall be subject to the prior written consent of Prax, which consent may be withheld in Prax’s sole and absolute discretion. Further, Prax may assign its rights under this Deed in whole or in part to any person or party acquiring some or all of the shares of Prax in the HK SPV.
The Beneficiaries