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. 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. No later than sixty (60) days after the Closing Date (unless a longer period is agreed to by Agent), Borrower shall have provided to Agent, for the benefit of the Lenders, Assignments of Life Insurance Policies in the aggregate amount of Seven Million Five Hundred Thousand Dollars ($7,500,000) on the life of Txxxxxxx Xxxxxxxx, in form and substance satisfactory to Agent.
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. One or more separate assignments to Lender of the key-person life insurance policy (or policies) insuring the life of Sxxxx Forget for at least $500,000 and naming Helix as the only other beneficiary thereof, which assignment (a) must be in form and substance acceptable to Lender, and (b) must be executed or consented to by each beneficiary, each insured and the relevant insurance company, and (c) must indicate that the life insurance policy is fully paid for a period of at least 12 months beyond the Closing Date.
Assignment of Life Insurance Policy. The Shareholder shall have delivered to Buyer the executed Assignment of Life Insurance Policy;
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. 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. 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.
