Indirect Beneficiary definition
Indirect Beneficiary shall have the meaning assigned to such term in Section 2.2(b).
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Related to Indirect Beneficiary
Current beneficiary means a beneficiary that on the date the beneficiary’s qualification is determined is a distributee or permissible distributee of trust income or principal. The term includes the holder of a presently exercisable general power of appointment but does not include a person that is a beneficiary only because the person holds any other power of appointment.
Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.
Income beneficiary means a person to whom net income of a trust is or may be payable.
primary beneficiary means the individual for whose primary benefit the trust is then held.
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.