Sole benefit definition

Sole benefit of a beneficiary means a trust benefits no one but that beneficiary, whether at the time the trust is established or at any time during the lifetime of the beneficiary.
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Sole benefit means with respect to the generator customer(s)’s modifications, updates, or addition of facilities to the transmission system which are triggered by a generator(s) connection needs (including reliability requirements and power quality needs or impacts) and are not prompted by the need to adequately supply the pool of load customers.
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Sole benefit means the benefits derived from the transmission customer’s modifications, updates, or addition of facilities which are triggered by a customer’s connection transformation needs (including reliability requirements and power quality needs or impacts), and are not prompted by the need to adequately supply the pool of load customers.
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Examples of Sole benefit in a sentence

  • The WARA Destroyed Plaintiffs’ Property Rights for the Sole Benefit of the Signatories to the Five-Party Agreement When reviewing the character of the governmental action, the “reviewing court [must] consider the purpose and importance of the public interest reflected in the regulatory imposition.

  • NURSING FACILITY SERVICES - For the Sole Benefit Of: A transfer is considered to be for the sole benefit of a spouse, disabled child, or a disabled individual under age 65, if the transfer is arranged in such a way that no individual, except the spouse, child or individual, can benefit from the transferred asset(s)in any way, either at the time of the transfer, or at any time in the future, except as provided below.

  • Section 11.02 Provisions of Indenture for the Sole Benefit of Parties and Holders of Securities.

  • See Transfers for Payment of Personal Care Services.- For the Sole Benefit Of: A transfer is considered to be for the sole benefit of a spouse, disabled child, or a disabled individual under age 65, if the transfer is arranged in such a way that no individual, except the spouse, child or individual, can benefit from the transferred asset(s)in any way, either at the time of the transfer, or at any time in the future, except as provided below.

  • For the Sole Benefit of – A trust is considered to be for the sole benefit of a spouse, blind or disabled child, or disabled individual if the trust benefits no one but that individual, whether at the time the trust is established or any time in the future.

  • NURSING FACILITY SERVICES- For the Sole Benefit Of: A transfer is considered to be for the sole benefit of a spouse, disabled child, or a disabled individual under age 65, if the transfer is arranged in such a way that no individual, except the spouse, child or individual, can benefit from the transferred asset(s)in any way, either at the time of the transfer, or at any time in the future, except as provided below.

  • Prior to XX/XX/XX, there were only four instances where you could offer a 90-day amendment period:• Early Termination Provisions and Trusts (SI 01120.199.);• Sole Benefit Requirement and Third Party Travel Expenses (SI 01120.201F.2. in this section);• Pooled Trusts Management Provisions (SI 01120.225.); and• Null and Void Clauses in Trusts Documents (SI 01120.227.).

  • A Sole Benefit Trust must meet all of the conditions applicable to Third Party Supplemental Needs Trusts.

  • However, a Sole Benefit Trust must also meet additional requirements.

  • The term "related party" means a spouse, or child, or spouse of a child, or ancestor, or a trust for the Sole Benefit of those persons or any of them.


More Definitions of Sole benefit

Sole benefit means: A transfer is considered to be for the sole benefit of a spouse, blind or disabled child, or a blind or disabled individual, when the transfer is established using a written agreement that legally binds the parties and clearly expresses that the transfer is for the spouse, blind or disabled child, or blind or disabled individual only, and that no one else can benefit from the assets transferred. Without this agreement, a transfer cannot be determined to be for the sole benefit of the individual.
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Sole benefit means no one else may benefit from the asset transfer. Actuarial
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Related to Sole benefit

  • Eligible beneficiary means a resident of this state who:

  • Benefit means anything reasonably regarded as pecuniary gain or pecuniary advantage, including benefit to any other person in whose welfare the beneficiary has a direct and substantial interest.

  • Supplemental Security Income (SSI) means a program available to certain aged and disabled persons that is administered by the Social Security Administration through the Social Security office.

  • Charitable Beneficiary means one (1) or more beneficiaries of the Trust as determined pursuant to Section 5.9(iii)(f), provided that each such organization must be described in Section 501(c)(3) of the Code and contributions to each such organization must be eligible for deduction under each of Sections 170(b)(1)(A), 2055 and 2522 of the Code.

  • Supplemental security income means the program authorized under title XVI of the social security act, 42 USC 1381 to 1383f.

  • assigns shall not include any purchaser of Securities merely because of such purchase.

  • Sponsor’s Fee means the fee to be paid to the Sponsor, which for each day shall be equal to (.004/365 or 366, depending on the number of days in the year) multiplied by (the Swedish Kronor in the Trust as of the close of business on the preceding Local Business Day, which shall include all unpaid interest but exclude unpaid fees, each as accrued through the immediately preceding day).

  • Economic Capital Account Balance has the meaning provided in Section 5.1(e) hereof.

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Economic Capital Account Balances has the meaning set forth in Section 5.01(g) hereof.

  • Successors and Assigns as used herein shall mean a corporation or other entity acquiring all or substantially all the assets and business of the Company (including this Agreement) whether by operation of law or otherwise.

  • REMIC I Distribution Amount For any Distribution Date, the REMIC I Available Distribution Amount shall be distributed to the REMIC I Regular Interests and the Class R-1 Residual Interest in the following amounts and priority:

  • REMIC II Distribution Amount shall not cause a reduction in the Class Principal Balances of any of the REMIC II Regular Interests; and

  • Maximum Benefit means the maximum benefit amount of each of the benefits covered under this Policy as stated in the Schedule of Benefits.

  • Secured Parties means, collectively, the Administrative Agent, the Lenders, the L/C Issuers, the Hedge Banks, the Cash Management Banks, each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to Section 9.05, and the other Persons the Obligations owing to which are or are purported to be secured by the Collateral under the terms of the Collateral Documents.

  • REMIC IV Distribution Amount shall not cause a reduction in the Class Principal Balances of any of the Classes of REMIC IV Regular Interests; and

  • Distributable Amount has the meaning set forth in Section 5.02(d) hereof.

  • REMIC II Available Distribution Amount For any Distribution Date, the amount distributed from REMIC I to REMIC II on such Distribution Date in respect of the REMIC I Regular Interests.

  • Maximum Uncertificated Accrued Interest Deferral Amount With respect to any Distribution Date, the excess of (i) accrued interest at the Uncertificated REMIC II Pass-Through Rate applicable to REMIC II Regular Interest ZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC II Regular Interest ZZ minus the REMIC II Overcollateralization Amount, in each case for such Distribution Date, over (ii) the aggregate amount of Uncertificated Accrued Interest for such Distribution Date on the REMIC II Regular Interests (other than REMIC II Regular Interests AA, ZZ and IO), with the rate on each such REMIC II Regular Interest (other than REMIC II Regular Interests B-1, B-2, B-3 and B-4) subject to a cap equal to the least of (x) the One-Month LIBOR Pass Through Rate for the Corresponding Certificate, (y) 11.00% per annum and (z) the Net WAC Cap Rate for the REMIC III Regular Interest the ownership of which is represented by the Corresponding Certificate for the purpose of this calculation for such Distribution Date, and with the rate on each of the REMIC II Regular Interests B-1, B-2, B-3 and B-4 subject to a cap equal to the lesser of (i) the per annum fixed rate specified in the definition of “Pass-Through Rate” for the Corresponding Certificate, and (ii) the related Net WAC Cap Rate for the REMIC III Regular Interest the ownership of which is represented by the Corresponding Certificate for the purpose of this calculation for such Distribution Date; provided, however, that solely for this purpose, the related cap with respect to each REMIC II Regular Interest (other than REMIC II Regular Interests AA, ZZ, B-1, B-2, B-3, B-4 and IO) shall be multiplied by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.

  • Fringe benefit means health insurance, a retirement benefit received under a pension plan or defined contribution plan, a paid vacation day, a paid holiday, sick leave, or any other similar employee benefit provided by an employer.

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

  • Maximum Distributable Amount means any maximum distributable amount relating to the Issuer and/or the Group (if any) which is determined pursuant to Article 141 of the CRD IV Directive (or, as the case may be, any provision of Danish law transposing or implementing Article 141 of the CRD IV Directive), or any successor provision thereto;

  • REMIC III Distribution Amount The REMIC III Available Distribution Amount for any Distribution Date shall be distributed to the Certificates and the Class R-3 Residual Interest in the following amounts and priority:

  • REMIC I Available Distribution Amount For each Loan Group for any Distribution Date, the sum of the following amounts with respect to the Mortgage Loans in such Loan Group: