Lineal Descendant definition
Examples of Lineal Descendant in a sentence
The execution of a Shareholder Consent by a Shareholder Spouse signifies that: the Shareholder Spouse has consented to become a party to this Agreement, and acknowledges that any interest the Shareholder Spouse at any time owns in any Shares of the Company, whether in the Shareholder Spouse’s own name, jointly with a Lineal Descendant under community property laws or otherwise, shall be subject to the terms of this Agreement, specifically including the provisions of Section 2, Section 6 and Section 8.
Exhibit A reflects the number of Shares held by each Family Agreement Shareholder, and identifies each Family Agreement Shareholder as a: Lineal Descendant; Shareholder Spouse; Stepchild; Permitted Trust; or Permitted Entity, consistent with the definitions contained in this Agreement.
By checking the Lineal Descendant Per Stirpes (LDPS) box next to a beneficiary, this provides that should the beneficiary predecease you, the share percentage allotted to the deceased beneficiary will pass in equal shares to the first generation of the deceased beneficiary’s living lineal descendants, which may be his or her children or grandchildren.
Lineal Descendant means a Participant’s child, grandchild, or great-grandchild, or child of any of the foregoing persons.
Lineal Descendant - an individual tracing his or her ancestry directly and without interruption to a particular individual.