First Beneficiary definition

First Beneficiary means the Beneficiary (whether the primary or contingent Beneficiary) who first becomes entitled to Survivor Benefits under this Plan.
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First Beneficiary means the Security Trustee to the extent only of the amounts payable to it in its capacity as such (for its own account) pursuant to the Senior Finance Documents.
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First Beneficiary means the beneficiary under the DC;
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Examples of First Beneficiary in a sentence

  • All amendments are to be advised directly to the Second Beneficiary without necessity of any consent of or notice to the undersigned First Beneficiary.

  • The original Credit, including amendments to this date, is attached and the undersigned First Beneficiary requests that you endorse an acknowledgment of this transfer on the reverse thereof.

  • The undersigned First Beneficiary requests that you notify the Second Beneficiary of this Credit in such form and manner as you deem appropriate, and the terms and conditions of the Credit as transferred.

  • Where appropriate, you should consult with an attorney or tax advisor for advice.Beneficiary SharesCLASS: Examples of CLASSES of beneficiaries are primary, contingent, second contingent or First Beneficiary, Second Beneficiary, Contingent Beneficiary.

  • In case of death of the First Beneficiary, the Second Beneficiaries will benefit of the rights granted to them by these by-laws.

  • The Board of Directors of the Foundation will implement without delay the decisions of the First Beneficiary.

  • The Board of Directors of the Foundation may not amend these By-laws, without the consent of the First Beneficiary.

  • Banker's cheque The demand draft, fixed deposit receipt, or banker's cheque shall be drawn on any scheduled commercial bank in India, in favour (First Beneficiary) of "SECURITY PAPER MILL" payable at "HOSHANGABAD".

  • The Second Beneficiaries of the Foundation will be the legitimate children of the First Beneficiary, in equal parts.

  • Subject to the rights of the First Beneficiary under the First Priority Documents to the extent then in effect, after Borrower's Liabilities have been accelerated, Trustee, upon the written request of the Beneficiaries, shall foreclose upon and sell the Property for cash in hand on day of sale to satisfy the Borrower's Liabilities in accordance with applicable provisions of West Virginia law.


More Definitions of First Beneficiary

First Beneficiary shall have the meaning ascribed to such term in the Preamble of this Agreement.
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First Beneficiary means the Security Agent, to the extent only of the amounts payable to the Security Agent (for its own account) pursuant to the Agreement or any of the Security Agent Security Documents (which includes without limitation all amounts payable to the Security Agent in respect of third party costs and expenses but excluding amounts payable to the Security Agent in respect of its rights under Clause 5.3 (Security Agent as joint and several creditor) and the equivalent provisions of any other Finance Documents) and any other person who may be appointed as Security Agent pursuant to the provisions of the Agreement, to the extent only of the amounts payable to the Security Agent (for its own account) pursuant to the Agreement or any of the Security Agent Security Documents, in relation to the period from and including its appointment up to and including its retirement as Security Agent pursuant to the provisions of this Deed;
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Related to First Beneficiary

  • Income beneficiary means a person to whom net income of a trust is or may be payable.

  • Refund beneficiary means an individual nominated by a qualified participant or a former qualified participant under section 66 to receive a distribution of the participant's accumulated balance in the manner prescribed in section 67.

  • primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of Section 8.3, a Qualified Entity is a member of each Family Group to which such one or more Qualified Trusts that are its equity holders belong.

  • Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined:

  • Initial Beneficiary means ALF LLC, as initial beneficiary under the Titling Trust Agreement and its permitted successors and assigns.

  • Financial Beneficiary means any Principal of the Developer or Applicant entity who receives or will receive any direct or indirect financial benefit from a Development, except as further described in Rule 67-21.0025, F.A.C.

  • Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.

  • Successor of a beneficiary means a person who succeeds to substantially all of the rights of a beneficiary by operation of law, including a corporation with or into which the beneficiary has been merged or consolidated, an administrator, executor, personal representative, trustee in bankruptcy, debtor in possession, liquidator, and receiver.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Former Spouse means the individual who is considered by Applicable Laws to be the Annuitant’s former spouse or common-law partner;

  • land reform beneficiary , in relation to a property, means a person who -

  • Surviving beneficiary or "surviving descendant" means a beneficiary or a descendant who did not predecease the decedent and is not considered to have predeceased the decedent under section 2702.

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Beneficiary means each designated person, or the estate of the deceased Executive, entitled to benefits, if any, upon the death of the Executive, determined according to Article 4.

  • Remainder beneficiary means a person entitled to receive principal when an income interest ends.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Beneficiary(ies means the beneficiary(ies) designated by the Participant who are entitled to receive any distributions from the Plan payable upon the death of the Participant.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Spouse means, an individual who,

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Qualified Beneficiaries has the meaning set forth in Section 4.12.

  • Disability Benefit means the benefit set forth in Article 8.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Annuity Benefit means a benefit payable by us as described in Part VII.

  • Alternate Payee means any spouse, former spouse, child, or other dependent of a Participant who is recognized by a qualified domestic relations order as having a right to receive all, or a portion of, the benefits payable under a Plan with respect to such Participant.