Common use of Additional Agreements of the Assignee Clause in Contracts

Additional Agreements of the Assignee. The Assignee agrees with the Owner as follows: (a) any balance or sums received hereunder from the Insurer remaining after payment of the then existing liabilities of the Owner to the Assignee under the Split-Dollar Agreement shall be paid to the persons entitled thereto under the terms of the Policy as if this Assignment had not been executed; (b) the Assignee will not exercise any of the rights granted herein to it unless and until there has been default in any of the liabilities by the Owner to the Assignee under the Split- Dollar Agreement, and until twenty (20) days after the Assignee shall have mailed, by first class mail, to the Owner, notice of its intention to exercise such right; and (c) the Assignee will, upon request, forward the Policy to the Insurer, without unreasonable delay, for any election of optional mode of settlement, or the exercise of any other right reserved by the Owner hereunder.

Additional Agreements of the Assignee. The Assignee agrees with the Owner as follows: (a) any balance or sums received hereunder from the Insurer remaining after payment of the then existing liabilities of the Owner to the Assignee under the Split-Dollar Agreement shall be paid to the persons entitled thereto under the terms of the Policy as if this Assignment had not been executed; (b) the Assignee will not exercise any of the rights granted herein to it unless and until there has been default in any of the liabilities by the Owner to the Assignee under the Split- Split-Dollar Agreement, and until twenty (20) days after the Assignee shall have mailed, by first class mail, to the Owner, notice of its intention to exercise such right; and (c) the Assignee will, upon request, forward the Policy to the Insurer, without unreasonable delay, for any election of optional mode of settlement, or the exercise of any other right reserved by the Owner hereunder.