Common use of Assigned Rights Clause in Contracts

Assigned Rights. The Assignee's interest in the Policy shall be limited to: a. The right to recover the lesser of the total premiums it has paid on the Policy less amounts received under the Agreement from the Owner ("net premium outlay") or the "surrender value" of the Policy (as defined in the Policy for all purposes hereinafter) in the event the Policy is totally surrendered or cancelled by the Owner, or the right to receive the surrender proceeds to the extent of its net premium outlay in the event the Policy is partially surrendered or cancelled by the Owner, as provided in paragraph 5 of the Agreement. b. The right to recover the death benefit proceeds as provided in paragraph 7 of the Agreement. c. The right to recover the lesser of its net premium outlay or the surrender value of the Policy or to receive ownership of the Policy, in the event of termination of the Agreement, as provided in paragraphs 6(a), 6(b) and 6(c) of the Agreement. d. The right to recover its net premium outlay to the extent a Policy loan made by the Owner in any year exceeds the lesser of the Owner's portion of the premium for that year or the increase for that year in the surrender value of the Policy, as provided in paragraph 8 of the Agreement.

Assigned Rights. The Assignee's interest in the Policy shall be limited to: a. The In the event the Policy is surrendered or canceled by the Owner, the right to recover the lesser of (i) the total premiums it has paid on the Policy less amounts received under the Agreement from the Owner ("net premium outlay") or and (ii) the "cash surrender value or surrender value" of the Policy (as defined in the Policy for all purposes hereinafter) ), or, in the event the Policy is totally partially surrendered or cancelled canceled by the Owner, or the right to receive the surrender proceeds to the extent of its net premium outlay in the event the Policy is partially surrendered or cancelled by the Owneroutlay, as provided in paragraph 5 of the Agreement. b. The right to recover the death benefit proceeds as provided in paragraph Paragraph 7 of the Agreement. c. The right to recover the lesser of (i) its net premium outlay or and (ii) the surrender value of the Policy or to receive ownership of the Policy, in the event of termination of the Agreement, as provided in paragraphs 6(a6(b), 6(b6(c) and 6(c6(d) of the Agreement. d. The right to recover its net premium outlay to the extent a Policy policy loan made by the Owner in any year exceeds the lesser of the Owner's portion of the premium for that year or and the increase for that year in the surrender value of the Policy, as provided in paragraph Paragraph 8 of the Agreement.

Assigned Rights. The Assignee's interest in the Policy shall be limited to: a. The In the event the Policy is surrendered or cancelled by the Owner, the right to recover the lesser of (i) the total premiums it has paid on the Policy less amounts received under the Agreement from the Owner ("net premium outlay") or and (ii) the "cash surrender value or surrender value" of the Policy (as defined in the Policy for all purposes hereinafter) ), or, in the event the Policy is totally partially surrendered or cancelled by the Owner, or the right to receive the surrender proceeds to the extent of its net premium outlay in the event the Policy is partially surrendered or cancelled by the Owneroutlay, as provided in paragraph 5 of the Agreement. b. The right to recover the death benefit proceeds as provided in paragraph Paragraph 7 of the Agreement. c. The right to recover the lesser of (i) its net premium outlay or and (ii) the surrender value of the Policy or to receive ownership of the Policy, in the event of termination of the Agreement, as provided in paragraphs 6(a6(b), 6(b6(c) and 6(c6(d) of the Agreement. d. The right to recover its net premium outlay to the extent a Policy policy loan made by the Owner in any year exceeds the lesser of the Owner's portion of the premium for that year or and the increase for that year in the surrender value of the Policy, as provided in paragraph Paragraph 8 of the Agreement.

Assigned Rights. The Assignee's interest in the Policy shall be limited to: a. The right to recover the lesser of the total premiums it has paid on the Policy less amounts received under the Agreement from the Owner ("net cumulative premium outlay") or the "surrender value" of the Policy (as defined in the Policy for all purposes hereinafter) in the event the Policy is totally surrendered or cancelled by the Owner, or the right to receive the surrender proceeds to the extent of its net cumulative premium outlay in the event the Policy is partially surrendered or cancelled by the Owner, as provided in paragraph 5 of the Agreement. b. The right to recover the death benefit proceeds as provided in paragraph 7 of the Agreement. c. The right to recover the lesser of its net cumulative premium outlay or the surrender value of the Policy or to receive ownership of the Policy, in the event of termination of the Agreement, as provided in paragraphs 6(a), 6(b) and 6(c) of the Agreement. d. The right to recover its net cumulative premium outlay to the extent a Policy loan made by the Owner in any year exceeds the lesser of the Owner's portion of the premium for that year or the increase for that year in the surrender value of the Policy, as provided in paragraph 8 of the Agreement.