Common use of ULTIMATE DISTRIBUTION Clause in Contracts

ULTIMATE DISTRIBUTION. If, at the death of the last survivor of the Grantor, the Current Beneficiary and the last surviving descendant of the Current Beneficiary's father, any portion of any trust created hereunder, except a trust created pursuant to the holdback provisions hereof relating to beneficiaries under twenty-one (21) years of age, remains undistributed under the foregoing provisions hereof or pursuant to the exercise of a power of appointment created hereunder, then such trust shall be distributed by the Trustee to those persons who would then be the Grantor's heirs-at- law. For the purposes hereof, the term "heirs-at-law" shall mean those persons who would then be the heirs-at-law as determined by the then existing laws of descent and distribution of the State of Illinois as if the Grantor had died intestate at such time.