Policy Ownership a. Except as provided in, or limited by, Section 4 and subparagraph b of this Section, the Owner shall have all the rights of the "Owner" under the terms of the Policy, including but not limited to the right to designate beneficiaries, select settlement options and to surrender the Policy; provided, the Owner may surrender paid up additions, borrow against the Policy or change dividend options on the Policy only if and to the extent that, immediately after the Owner takes such actions, the Cash Surrender Value of the Policy exceeds 110% of the Assignee's Premium Interest.
Policy Ownership. Employer shall be the sole and absolute owner of the Policy, and may exercise all ownership rights granted to the owner thereof by the terms of the Policy, except as may otherwise be limited by this Agreement.
Policy Ownership. Xxxxx has a documented information security policy that all employees must read and acknowledge. This policy is reviewed and updated annually. Security policy development, maintenance, and issuance is the responsibility of the Braze Security Team.
Policy Ownership. 3.1 The Trustee shall own the Policy and may exercise all rights of ownership with respect to it, subject only to the security interest of the Corporation as expressed in this Agreement and the collateral assignment of the Policy to the Corporation.
Policy Ownership. 3.1 The Employee shall own the Policy and may exercise all rights of ownership with respect to it, subject only to the security interest of the Corporation as expressed in this Agreement and the collateral assignment of the Policy to the Corporation.
Policy Ownership. (a) Except as provided in subparagraph (b), the Owner shall be the sole and exclusive owner of the Policy. This includes all the rights of "owner" under the terms of the Policy except as otherwise provided in this Section 4, including but not limited to the right to designate beneficiaries and select settlement options.
Policy Ownership. Interests
Policy Ownership. The Owner shall be the sole owner of the Policy and shall have all incidents of ownership in and to the Policy.
Policy Ownership. Southcoast is the sole owner of the Policy and shall have the right to exercise all incidents of ownership. Southcoast shall be the beneficiary of the remaining death proceeds of the Policy after the Executive's interest is paid according to section 2.2 below. If a Change in Control occurs, concurrent with the Change in Control, Southcoast shall transfer to the Executive ownership of the Policy free and clear of all liens and encumbrances, including, without limitation, any loans from the Insurer.
Policy Ownership. Nothing in this Agreement is intended or shall be construed to be an assignment to the Banks of the whole of or any part of the ownership of the Insurance Policy so as to constitute the Banks the owner of the Insurance Policy. Any assignment related to the Insurance Policy is intended and shall be construed as an assignment of the proceeds of insurance and certain rights in relation thereto (as described in the Four Party Agreement).
