Ultimate Beneficiary definition

Ultimate Beneficiary means the ultimate beneficiary of the Volume Cap as provided in the Code and Notice.
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Ultimate Beneficiary means one among a class of persons who are enti- tled to benefit from, or otherwise par- ticipate in, programs or activities re- ceiving Federal financial assistance and to whom the protections of this subpart extend. The ultimate bene- ficiary class may be the general public or some narrower group of persons.
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Ultimate Beneficiary means the person or company to receive the funds.
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Examples of Ultimate Beneficiary in a sentence

  • It is, in reality, the bank, which services the account of the Ultimate Beneficiary.

  • If a particular Ultimate Beneficiary is selected in Parties tab 2, then the Account with Institution for the selected ultimate Beneficiary will appear by default in the AWI field in the Parties tab one screen.CountrySpecify the country of the account with the institution.

  • You can choose the appropriate oneNOTE: The country information is captured to enable Mantas to analyze the transactions for possible money laundering activities.For more details on Mantas, refer 'Mantas' interface document.ReceiverYou can specify the final Receiver as apart from the Account With Institution if the Ultimate Beneficiary desires that the payment message should be sent there.

  • Details of Ultimate Beneficiary Owners: (In case the space provided is insufficient, please provide the information by attaching separate declaration forms) Sr.Name of UBO#Attached documents should be self - certified by the UBO and certified by the Applicant/Investor Authorized Signatory/ies.

  • On the Settlement Instructions Maintenance screen, click Pay Parties.Before funds actually reach the Ultimate Beneficiary of a payment, it may have to pass through several other banks or parties.STEP RESULT: Settlement Instructions Maintenance screen is displayed.

  • FieldDescriptionUltimate BeneficiaryThe Ultimate Beneficiary refers to the Customer to whom the amount of the component paid.

  • The Customer authorises CSBHK, upon the Customer’s Instruction, to apply for the subscription or purchase of securities in a public offer in respect of a new listing and/or placing of securities of companies listed on the Exchange as his agent and for the benefit of the Customer or for the benefit of the Ultimate Beneficiary, whether singly or in conjunction with applications of other customers or Affiliates of CSBHK as a bulk application.

  • Ultimate Beneficiary - a Person in favor of which the bank guarantee will be issued by the Beneficiary on the basis of the Bank Guarantee issued by the Bank in favor of the Beneficiary and in accordance with its terms and conditions.

  • In situations where, having exhausted all possible means and there is no reason to suspect a particular person (s), none of the circumstances listed in the previous point is met, they will be considered as Ultimate Beneficiary.

  • Whenever this happens, the client will be asked to complete the Ultimate Beneficiary Owner Identification Form.


More Definitions of Ultimate Beneficiary

Ultimate Beneficiary means a beneficiary of a Partnering organization (i.e. a child).
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Ultimate Beneficiary means any Person or group of Persons that, directly or indirectly, by themselves or through a third party, by virtue of a contract, agreement, or other, has or may have a decision-making ability regarding a share or company; i.e., the power to vote in the election of directors or representatives, or to direct, guide, and control said vote and/or the power to transfer and/or order the transfer or encumbrance of the share. Spouses or de-facto partners and relatives within the second degree of consanguinity, second degree of affinity, and single civil, make up the same Ultimate Beneficiary, unless evidenced that they act as independent economic interests. Parent companies and their subordinates also constitute a same Ultimate Beneficiary. A Person or group of Persons is deemed the Ultimate Beneficiary of a share if they have the right to acquire the property thereof through the exercise of a right arising from a guarantee, a repurchase agreement, a trust business, or any other agreement with similar legal effects, unless it does not grant Political Rights.
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Ultimate Beneficiary means a person who is the end beneficial owner of business operation, activity or transaction including person with controlling power over an entity.
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Related to Ultimate Beneficiary

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

  • 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.

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

  • 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.

  • 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.

  • 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.

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

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

  • 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.

  • 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.

  • Representative payee means an individual, agency, or institution selected by a court or the Social Security Administration to receive and manage benefits on behalf of another person.

  • 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.

  • 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.

  • Eligible beneficiary means a resident of this state who:

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

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

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

  • Spouse means, an individual who,

  • Settlor means a person, including a testator, who creates, or contributes property to, a trust. If more than one person creates or contributes property to a trust, each person is a settlor of the portion of the trust property attributable to that person's contribution except to the extent another person has the power to revoke or withdraw that portion.

  • 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.

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

  • Spendthrift provision means a term of a trust that restrains both voluntary and involuntary transfer of a beneficiary's interest.

  • Eligible Family Member means a member of the Subscriber’s family that is or becomes eligible to enroll for coverage under this Plan as a Dependent.

  • UTI Beneficiary means NILT Trust, in its capacity as the initial beneficiary of the Titling Trust.

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

  • de facto spouse means a person of the opposite sex to the employee who lives with the employee as the husband or wife of the employee on a bona fide domestic basis, although not legally married to that person.