Assignment of Policy. 5.1 The Employee shall collaterally assign the Policy to the Corporation so as to reflect the respective interests of the parties under this Agreement, said collateral assignment ("Assignment") having been executed by the parties on the date of this Split Dollar Agreement, and thus made a part of such Policy and this Agreement.
Assignment of Policy. If the Mortgaged Property is sold at a foreclosure sale or if Mortgagee shall acquire title to the Mortgaged Property, Mortgagee shall have all of the right, title and interest of Mortgagors in and to any insurance policies required hereunder, and the unearned premiums thereon, and in and to the proceeds thereof resulting from any damage to the Mortgaged Property prior to such sale or acquisition.
Assignment of Policy. Assignment of this policy will be void and we will not recognize any such assign- ment, unless we give our written consent.
Assignment of Policy. This Policy shall be void if assigned or transferred without the written consent of this Company, whether such transfer be voluntary or involuntary.
Assignment of Policy. To secure the repayment to Corporation of -------------------- its Corporate Interest in the Policy arising hereunder and as defined in paragraph 5.4, Employee has, contemporaneously herewith, assigned the Policy to Corporation as collateral, in the form attached hereto as Exhibit B (the "Assignment"). The Assignment shall be filed with Insurer and shall not be terminated, altered or amended by Employee, without the express written consent of Corporation. The parties agree to be bound by the terms and conditions of the Assignment and of this Agreement.
Assignment of Policy. The Employee shall collaterally assign the --------------------- Policy to the Employer as security for repayment of the Recovery Amount through execution of the form of Assignment attached as Schedule B hereto. The Assignment may not be terminated, altered or changed without the written consent of the Employer, but will terminate automatically upon the Employer's receipt of the Recovery Amount pursuant to Section 3.02 or the Employee's payment of the Recovery Amount to the Employer pursuant to Section 5.02.
Assignment of Policy. If the Mortgaged Properties are sold at a foreclosure sale or if Mortgagee shall acquire title to the Mortgaged Properties, Mortgagee shall have all of the right, title and interest of Mortgagor in and to any insurance policies required under subparagraph (a)(i) hereof and the unearned premiums thereon and in and to the proceeds resulting from any damage to the Mortgaged Properties prior to such sale or acquisition.
Assignment of Policy. You hereby assign and pledge to and grant a Security Interest in (or, if you reside in Quebec, grant a moveable hypothec with delivery on) the Collateral, specifically the Policy, to and in favour of the Bank, including:
a. all the right, title, and interest in and to the Policy, all benefits and advantages in connection with the Policy, all money which is now or shall hereafter become due or payable under the Policy, any prepaid premiums on the Policy and interest thereon, the benefit of prepaid premiums and the right to receive any such monies not used or applied in payment of premiums,
b. all securities or other property in any form derived directly or indirectly from any use or dealing with the Policy,
c. all income or other distributions, whether paid or distributed in cash, securities or other property, in respect of the Policy,
d. all other property, including choses in action, now or hereafter relating in any way to the Policy, and
e. all proceeds of the property described in this subsection 8 (ii) , all to be held by the Bank as collateral security for the Obligations.
Assignment of Policy. If a Mortgaged Property is sold at a foreclosure sale or if the U.S. Collateral Trustee or Canadian Collateral Trustee, as applicable, shall acquire title to a Mortgaged Property, such Collateral Trustee shall, as collateral security, have all of the right, title and interest of the Parent or the applicable Restricted Subsidiary in and to any insurance policies required under Section 5.2(a) with respect to such Mortgaged Property and the unearned premiums thereon and in and to the proceeds payable thereunder to the extent resulting from any damage to the Mortgaged Property prior to such sale or acquisition.
Assignment of Policy. If the Mortgaged Property is sold at a foreclosure sale or if the Lender shall acquire title to the Mortgaged Property, the Lender shall have all of the right, title and interest of the Borrower in and to any insurance policies required under subparagraphs 10(a)(i) through (a)(iii) and (a)(vi) hereof and the unearned premiums thereon and in and to the proceeds resulting from any damage to the Mortgaged Property prior to such sale or acquisition.
