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such transaction being hereinafter <br />referred to as a "Transfor") has been <br />approved in advance In a "Qualified <br />Order" as defined in Section 5891(b)(2) <br />of the Code (a "Qualified Order") and <br />otherwise complies with applicable state <br />law, including without limitation any <br />applicable state structured settlement <br />protection statute. <br />No Claimant, Payee or Successor Payee <br />shall have the power to effect any Transfer <br />of Payment Rights except as provided in <br />sub -paragraph (it) above, and any other <br />purported Transfer of Payment Rights shall <br />be wholly void, Invalid and unenforceable. If <br />Payment Rights under this Agreement <br />become the subject of a Transfer approved <br />in accordance with subparagraph (11) above <br />the rights of any direct or Indirect transferee <br />of such Transfer shall be subject to the <br />terms of this Agreement and any defense or <br />claim in recoupment arising hereunder. <br />8. Contingent Beneficiaries, Any Periodic <br />Payments to be made atter the death of any <br />Claimant, Payee or Successor Payee shall <br />be made to such party as shall have been <br />designated in, or In accordance with, the <br />Settlement Agreement or, If.the Settlement <br />Agreement does not provide for such <br />designation, then to the party designated in <br />conformity with this paragraph 8. Any party <br />so designated is referred to in this <br />Agreement as a "Contingent Beneficiary." If <br />no Contingent Beneficiary is living at the <br />time of the death of a Claimant, Payee or <br />Successor Payee, payment shall be made to <br />the decedent's estate unless otherwise <br />provided to the Settlement Agreement. As <br />used in this Agreement the term "Successor <br />Payee" refers to a Contingent Beneficiary or <br />an estate that has become entitled to <br />receive Periodic Payments following the <br />death of a Claimant, Payee or a Successor <br />Payee. Except where a designation has <br />been made in the Settlement Agreement, no <br />designation or change of designation of a <br />Contingent Beneficiary shall be effective <br />unless such designation or change (1) Is <br />requested in a written request submitted to <br />Assignee In accordance with Assignee's <br />customary procedures for processing such <br />requests; and gl) is confirmed by Assignee. <br />hlowever, Assignee will not be liable for any <br />payment made prior to receipt of the request <br />or so soon thereafter that payment could not <br />reasonably be stopped. Except for a <br />designation that is expressly identified in the <br />Settlement Agreement as irrevocable, any <br />designation of a Contingent Beneficiary shall <br />be deemed to be revocable; and no party <br />that is designated as a Contingent <br />Beneficiary (other than a party irrevocably <br />designated as a Contingent Beneficiary in <br />the Settlement Agreement) shall, solely by <br />virtue of its designation as a Contingent <br />Beneficiary, be deemed to have any <br />cognizable interest in any Periodic <br />Payments, <br />9. Termination of Settlement Agreement 1 <br />Failure to Satisfy Section 130(e). if at any <br />time prior to completion of the Periodic <br />Payments, the Settlement Agreement Is <br />declared laminated in a final, non - <br />appealable order of a court of competent <br />jurisdiction (or in the case of a workers' <br />compensation settlement, a final order of the <br />applicable workers' compensation authority) <br />or if it is determined in any final order or <br />ruling that the requirements of Section <br />130(c) of the Code have not been satisfied <br />in connection with this Agreement: (i) the <br />assignment by Assignor to Assignee of the <br />liability to make the Periodic Payments and <br />Assignee's acceptance of such assignment <br />shall be of no force or effect; (fi) Assignee <br />shall be conclusively deemed to be acting as <br />the agent of Assignor; (iii) the Annuity shall <br />be owned by Assignor; (iv) in the event the <br />Settlement Agreement Is not terminated, <br />Assignor shall retain the liability to make the <br />Periodic Payments; (v) Assignee shall have <br />no liability to maks any Periodic Payments; <br />and (vi) the parties hereto agree to <br />cooperate in taking such actions as may be <br />necessary or appropriate to implement the <br />foregoing. <br />10. Governing Law; Binding Effect <br />This Agreement shall be govemed by <br />and Interpreted in accordance with the <br />internal laws of the state identified as <br />Governing Law above; provided, <br />however, that any Transfer of Payment <br />Rights under this Agreement may be <br />subject to the laws of other states in <br />addition to the state designated above. <br />This Agreement shall be binding upon <br />the parties hereto and their respective <br />successors, heirs, executors, <br />administrators and permitted assigns, <br />including without limitation any party <br />asserting an Interest in Payment Rights, <br />11. Advice, Comprehension of Agreement. in <br />entering into this Agreement, each Claimant <br />warrants, represents and agrees that <br />Claimant is solely relying on the attorneys <br />and advisors of such Claimant's own <br />choosing, and not upon Assignor, Assignee <br />or their advisors, for advice regarding the <br />legal, government benefits and tax <br />88-100G(12/20-13) (S] Page 3 of 6 <br />