Successor Owner definition

Successor Owner means the individual shown as such in the Data Pages when a Joint Life Contract is owned by an individual. The Successor Owner must be the spouse of the Owner on the Contract Date.

Successor Owner means an individual designated by the Owner in accordance with Section 5.06 of the Enrollment Agreement to become the Owner in the event of the Owner’s death.

Successor Owner means the Person who is TeamCo’s successor by sale, transfer or Assignment of the Team or TeamCo’s interest under this Non-Relocation Agreement.

Examples of Successor Owner in a sentence

• If part or all of the property is ever sold, then the Successor Owner of the property will continue to be obligated and bound under the terms and conditions of this lease.

• The Owner may designate an individual as a Successor Owner who will assume ownership of the Tuition Certificates and rights of the Owner under this Enrollment Agreement upon the Owner’s death.

• Upon the death of the Owner, the Successor Owner will become, and shall have all rights of, the Owner under this Enrollment Agreement, including the right to direct MEFA to transfer Tuition Certificate proceeds to the Owner instead of for the benefit of the Qualifying Beneficiary and the right to designate a Successor Owner.

• Any designation of a Successor Owner is intended to override, to the extent permitted by law, any provisions with respect to the applicable Tuition Certificate and rights under this Enrollment Agreement included in a will or codicil, and will include a representation that the Owner has notified or will promptly notify the Successor Owner of his/her status as Successor Owner.

• The Owner may make such designation by completing a Successor Owner designation on the form provided by MEFA.

More Definitions of Successor Owner

Successor Owner means the individual, at least 18 years of age, corporation or other entity authorized to become the Account Owner and assume the responsibilities and duties of the Account Owner.

Successor Owner means the individual shown as such in the Data Pages when a Joint Life Certificate is owned by an individual. The Successor Owner must be the spouse of the Owner on the Contract Date, unless a change is subsequently made in accordance with Section 6.03.

Successor Owner means the person designated by an account owner to succeed the account owner in the event of the death, incompetence or permanent disability of the account owner.

Successor Owner means the individual named and added to an individually owned Contract on or after the GWBL Conversion Effective Date for purposes of providing a Joint Life Benefit under this Contract. The Successor Owner must be the spouse of the Owner on the GWBL Conversion Effective Date, or the date added, if later, but a change may subsequently be made in accordance with Section 2.03 of this Rider.

Successor Owner is defined in the preamble.

Successor Owner means any successor owner of the Hotel.

Successor Owner means the individual shown as such in the Data Pages when a Joint Life Contract is owned by an individual. The Successor Owner must be the spouse of the Owner on the Contract Date, unless a change is subsequently made in accordance with Section 6.03.