Common use of COLLECTION AND DISTRIBUTION OF DEATH PROCEEDS Clause in Contracts

COLLECTION AND DISTRIBUTION OF DEATH PROCEEDS. (a) Upon the death of the Executive prior to the termination of this Agreement during the Executive's lifetime, the Company and the Owner shall cooperate with the beneficiary or beneficiaries designated by the Owner to take whatever action is necessary to collect the death benefit provided under the Policy. When such benefit has been collected and paid as provided herein, this Agreement shall thereupon terminate.

COLLECTION AND DISTRIBUTION OF DEATH PROCEEDS. (a) Upon the death of the second to die of the Executive and the Spouse prior to the termination of this Agreement during the Executive's lifetimelifetime of the Executive or the Spouse, the Company and the Owner shall cooperate with the beneficiary or beneficiaries designated by the Owner to take whatever action is necessary to collect the death benefit provided under the Policy. When such benefit has been collected and paid as provided herein, this Agreement shall thereupon terminate.

COLLECTION AND DISTRIBUTION OF DEATH PROCEEDS. (a) Upon the death of the second to die of the Executive and the Spouse prior to the termination of this Agreement during the Executive's lifetimeAgreement, the Company and the Owner shall cooperate with the beneficiary or beneficiaries designated by the Owner to take whatever action is necessary to collect the death benefit provided under the Policy. When such benefit has been collected and paid as provided herein, this Agreement shall thereupon terminate.