Assignment of Life Insurance Policy. The Bank shall have received confirmation satisfactory to it that the assignment of life insurance in the aggregate amount of $3,000,000 on the life of Xxxxxxx Xxxxxxxxx, made as condition to the effectiveness of the Second Restated Agreement, remains in full force and effect.
Assignment of Life Insurance Policy. Receipt by the Agent of a collateral assignment of a term life insurance Policy in the amount of Twenty-Two Million and 00/100 Dollars ($22,000,000) insuring the life of Russxxx X. Xxxt.
Assignment of Life Insurance Policy. U.S. Borrower shall have executed and delivered to Agent for the benefit of the Banks the Assignment of Life Insurance Policy in an amount of not less than Eight Million Dollars ($8,000,000).
Assignment of Life Insurance Policy. At Closing, NPLI shall ----------------------------------- assign and transfer the ownership of (i) those certain policies of insurance insuring the life of Xxxxxx issued by First Colony Life Insurance Company (policy number 1832286) and U.S.A.A. Life Insurance Company (policy number 1128513-60-04) to Xxxxxx and (ii) those certain policies of insurance insuring the life of Dekirmenjian issued by Old Republic Insurance Company (policy number 542904) and U.S.A.A. Life Insurance Company (policy number 1859426-60-01)
Assignment of Life Insurance Policy. Receipt by the Agent of a collateral assignment of a term life insurance Policy in the amount of Ten Million Dollars ($10,000,000) insuring the life of X.X. Xxxxx.
Assignment of Life Insurance Policy. The Assignment of Life Insurance ----------------------------------- Policy to be executed by Parent pursuant to which Parent shall pledge, as security for the Obligations, a life insurance policy on the life of Xxxxx Xxxx ("Xxxx"), such policy to provide for a death benefit in the amount of $10,000,000.00 or greater. Borrowing Base - At any date of determination, an amount equal to: (i) -------------- eighty percent (80%) of the face amount of Eligible Accounts outstanding at such date; plus (ii) the Eligible Inventory Advance Amount; minus (iii) the ---- ----- aggregate undrawn face amount of all outstanding letters of credit issued by the Bank for the account of any one or more of the Borrowers. In no event, however, shall the Borrowing Base exceed Ten Million Dollars ($10,000,000.00). Business Day - Means any day other than Saturday, Sunday or other day ------------ on which commercial banks in St. Louis, Missouri are authorized or required by law to close. Capital Expenditures - Expenditures made and liabilities incurred for -------------------- the direct or indirect acquisition of any fixed assets or improvements, replacements, substitutions or additions thereto which have a useful life of more than one year, including, without limitation, payments with respect to capitalized lease obligations. Closing Date - The date on which all of the conditions precedent set ------------ forth in Section 4 are satisfied and the initial Loan is made hereunder. --------- Code - The Uniform Commercial Code as adopted and in force in the State ---- of Missouri, as from time to time amended.
Assignment of Life Insurance Policy. (a) Prior to Closing Seller will cause the Company to assign to Seller that certain $500,000 life insurance policy covering Xxxxxx X. Xxxxx issued by TransAmerica Life (Policy No. 92068122).
Assignment of Life Insurance Policy. Within thirty (30) days of Closing, Borrowers shall cause Xxxx Xxxxxxx to execute a Security Agreement and an Assignment of Life Insurance Policy As Collateral, covering a $1,000,000 life insurance policy on the life of Xxxx Xxxxxxx.
Assignment of Life Insurance Policy. An Assignment of Life Insurance Policy on the life of Xxxxxxxx X. Xxxxxxxx, Xx. in the amount of $1,000,000.00 in form and substance satisfactory to the Lender.
Assignment of Life Insurance Policy. Contemporaneously herewith, Borrower shall deliver to Bank (or confirm that Bank holds) an assignment of a life insurance policy on the life of Xxxxxx X. Xxxxxxxxx for an amount not less than Five Hundred Thousand ($500,000.00) Dollars (the "Assignment of Life Insurance") together with evidence of premiums prepaid. The foregoing assignment of life insurance policy shall be acknowledged in writing by the issuer of such policy.
