Transfer Benefit Sample Clauses

The Transfer Benefit clause defines the conditions under which the rights or benefits under a contract may be transferred from one party to another. Typically, this clause outlines whether such transfers require the consent of the other party, and may specify any limitations or procedures for effecting a transfer, such as providing written notice or meeting certain eligibility criteria. Its core practical function is to control and clarify the circumstances in which contractual benefits can be assigned, thereby protecting the interests of the original parties and preventing unwanted or unauthorized transfers.
Transfer Benefit. The Bank may at any time with or without the consent or concurrence of the Customer and/or the Security Party transfer this Agreement and the Security Interest to any person. All costs relating to the transfer shall be borne by the Customer.
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Transfer Benefit. 7.4.5.1. The School Division shall assume financial responsibility for moving the personal and household effects of a teacher who is transferred to another school within the School Division, provided that this benefit shall not apply if the transfer is requested by the teacher.
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Transfer Benefit. The Bank may at any time with or without the consent or concurrence of the Customer and/or the Security Party, transfer and/or assign the rights, benefits, interest and/or obligations under this Agreement and/or the Security Documents to any person, and:. (a) for this purpose the Bank may disclose to a potential assignee or transferee or any other person who derives any rights, benefits, interest or obligations under this Agreement and/or the Security Documents, such information about the Customer as shall have been made available to the Bank generally; (b) the Customer shall execute such documents as are necessary to release the Bank to the extent of the transfer or assignment and join the transferee or assignee as a party to this Agreement and/or the Security Documents; (c) in the event of such assignment and/or transfer to any person by the Bank, the Customer shall thereafter deal solely with the assignee or transferee with respect to any matters under this Agreement and/or the Security Documents; and (d) all costs and/or expenses relating to this transfer and/or assignment shall be borne by the Customer, and any statement by the Bank as to the costs and/or expenses of the transfer and/or assignment which are to be borne by the Customer, shall be conclusive and binding on the Customer save for manifest errors only. However it is expressly agreed that the rights, benefit, obligations and/or interest of this Agreement and/or the Security Documents shall not be assigned or transferred in any way by the Customer unless with the written consent of the Bank.
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Transfer Benefit. The Bank may, for the purpose of facilitating its business, operations, services or such other things as the Bank may reasonably determine, transfer and/or assign the rights, benefits, interest and/or obligations under this Agreement and/or the Security Documents to any person by notice to the Borrower and/or the Security Party, and: (a) for this purpose the Bank may disclose to a potential assignee or transferee or any other person who derives any rights, benefits, interest or obligations under this Agreement and/or the Security Documents, such information about the Borrower as shall have been made available to the Bank generally; (b) the Borrower shall execute such documents as are necessary to release the Bank to the extent of the transfer or assignment and join the transferee or assignee as a party to this Agreement and/or the Security Documents; (c) in the event of such assignment and/or transfer to any person by the Bank, the Borrower shall thereafter deal solely with the assignee or transferee with respect to any matters under this Agreement and/or the Security Documents; and (d) all costs and/or expenses relating to this transfer and/or assignment shall be paid by the Borrower, and any statement by the Bank as to the costs and/or expenses of the transfer and/or assignment which are to be paid by the Borrower, shall save for manifest errors, be conclusive and binding on the Borrower. However it is expressly agreed that the rights, benefit, obligations and/or interest of this Agreement and/or the Security Documents shall not be assigned or transferred in any way by the Borrower unless with the written consent of the Bank.
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Related to Transfer Benefit

  • Regular Benefits The Executive shall also be entitled to participate in any and all employee benefit plans, medical insurance plans, life insurance plans, disability income plans, retirement plans, bonus incentive plans and other benefit plans from time to time in effect for senior executives of the Employer. Such participation shall be subject to (i) the terms of the applicable plan documents, (ii) generally applicable policies of the Employer and (iii) the discretion of the Board of Directors of the Employer or any administrative or other committee provided for in or contemplated by such plan.

  • Survivor Benefit Upon the death of a regular employee who leaves a spouse and/or dependants enrolled in the Medical Services Plan, Dental Plan and Extended Health Benefit Plan, such enrolment may continue for twelve (12) months following the employee’s death, provided the enrolled family members pay the employee’s share of the cost of the premium for the plans. The Employer shall advise the survivor of this benefit.

  • Public Benefit It is ▇▇▇▇▇▇▇'s understanding that the commitments it has agreed to herein, and actions to be taken by Praeger under this Settlement Agreement confer a significant benefit to the general public, as set forth in Code of Civil Procedure § 1021.5 and Cal. Admin. Code tit. 11, § 3201. As such, it is the intent of ▇▇▇▇▇▇▇ that to the extent any other private party serves a notice and/or initiates an action alleging a violation of Proposition 65 with respect to Praeger's alleged failure to provide a warning concerning actual or alleged exposure to cadmium prior to use of the Covered Products it has manufactured, distributed, sold, or offered for sale in California, or will manufacture, distribute, sell, or offer for sale in California, such private party action would not confer a significant benefit on the general public as to those Covered Products addressed in this Settlement Agreement, provided that Praeger is in material compliance with this Settlement Agreement.

  • Retirement Benefit (i) In consideration of the Executive's past services to the Company, the Executive shall be entitled to a retirement benefit, payable monthly for his life, in an amount equal to 50 percent of his highest monthly Base Salary during the Employment Term. Such payments shall commence on the first day of the month coincident with or next following the later of the Executive's attainment of age 58 or the end of the Employment Term (the "Commencement Date"); provided, however, that if the Employment Term terminates prior to his attainment of age 58, the Executive may elect by written notice to the Company to have such payments commence on the first day of any month after such termination of employment (the "Early Commencement Date") in a monthly amount equal to the monthly amount that the Executive would have received at the Commencement Date, reduced by one-third of one percent (.33%) per month for each month by which the Early Commencement Date precedes the Commencement Date. The amount of each payment hereunder shall be increased on each January 1 following the Early Commencement Date or Commencement Date, as applicable, by an amount determined by multiplying the amount of each monthly payment made in the preceding year by the percentage increase, if any, in the cost of living from the preceding January 1, as reflected by the Consumer Price Index. The Executive's election to have his retirement benefit payments commence on the Early Commencement Date shall not affect the Company's obligation to pay consulting fees to the Executive in accordance with Section 4 hereof. The retirement benefit shall be an unconditional, but unsecured, general credit obligation of the Company to the Executive, and nothing contained in this Agreement, and no action taken pursuant to it, shall create or be construed to create a trust of any kind between the Company and the Executive. The Executive shall have no right, title or interest whatever in or to any investments which the Company may make (including, but not limited to, an insurance policy on the life of the Executive) to aid it in meeting its obligations hereunder. (ii) From time to time, the Company shall make such contributions to the trust established under the Trust Agreement dated as of December 18, 1986 (the "1986 Trust") between the Company, as grantor, and Wi▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, as successor trustee, to provide a sufficient reserve for the discharge of its obligation to pay the retirement benefit to the Executive as provided in clause (i) of this Section 3(c) and clauses (ii) and (iii) of Section 5(a) hereof.

  • Change in Control Benefit If a Change in Control occurs followed within twenty-four (24) months by Separation from Service prior to Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under this Article.