Application of Dividends. Any dividend declared on the Policy, if any, shall be applied to purchase paid-up additional insurance on the life of the Employee. The parties hereto agree that the dividend election provisions of the Policy shall conform to the provisions hereof.
Application of Dividends a. Dividends declared by Insurers on the Policy shall be accumulated at interest by Insurer until Owner elects a dividend option and directs how the accumulated dividends and interest earned thereon shall be applied.
b. Owner shall elect a dividend option as provided in Paragraph (a) of this Article, subject to any subsequent assignment of the Policy.
Application of Dividends. Dividends shall be applied to purchase ------------------------ paid-up additional insurance protection.
Application of Dividends. Any dividends declared by Insurer on the Policy shall, at the election of the Trust:
(a) Be applied to purchase paid-up additional insurance; or
(b) Be applied to reduce the premiums payable on the Policy.
Application of Dividends. Any annual dividends attributable to the Policy shall be utilized in such manner as the Corporation and the Owner shall from time to time agree. Without limitation, the dividends may be (i) paid out; (ii) used, in whole or in part, to reduce premiums on the Policy, to purchase paid-up additional life insurance or to purchase one-year term insurance; or (iii) accumulated until the parties direct how the dividends shall be applied or paid out.
Application of Dividends. The transfer of the Dividends coming into existence after the date of this Assignment Agreement shall be deemed to occur by virtue of Assignee executing this Assignment Agreement. The transfer and assignment of such Dividends shall take effect automatically upon the existence of such Dividends, with no further act or deed of Assignor or of Assignee being required to effect such transfer and assignment.
Application of Dividends. Policy dividends may be used to pay premiums or to purchase paid-up additional insurance protection.
Application of Dividends. If in relation to any securities deposited with the Broker which are not registered in the Client's name any dividends, distributions or other benefits accrue in respect of such securities, the Broker shall ensure that the Securities Account or the Finance Account is credited (or payment is made to the Client as may be agreed) with or of the proportion of such benefits equal to the proportion of the total number or amount of relative securities which shall comprise securities held on the Client's behalf.
Application of Dividends. All dividends or credits earned on insurance contracts will be allocated to the Account of the Participant on whose life such contract was issued.
Application of Dividends. While this agreement is in force, dividends under any policy shall be used to purchase paid-up additions and shall not be applied to the payment of premiums or for any other dividend option unless the parties so agree by amending this agreement and the Employee subsequently amends the policy.
