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What does the following mean: you will be required to grant to the Funder a contingent right to receive a residual amount of the death benefit payable?

April 26, 2017Contingent death funder mean residual right

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What does the following mean: you will be required to grant to the Funder a contingent right to receive a residual amount of the death benefit payable?

1 Answer

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10 Posted

This is simply a legal description of the transaction, noting that the lender may receive amounts of death benefits (after payment of the waterfall elements, including the investor’s original invested amount), if any, left after the waterfall payments.