Common use of Company’s Interest Clause in Contracts

Company’s Interest. The Company shall own the Policy and shall have the right to exercise all incidents of ownership except that the Company shall not sell, surrender or transfer ownership of a Policy so long as the Executive has an interest in the Policy as described in Section 3.1. However, the Company may replace the Policy with a policy that provides comparable death benefits to cover the benefit provided under this Agreement. This provision shall not impair the right of the Company, subject to Article 9, to terminate this Agreement. The Company shall be the beneficiary of the remaining death proceeds of the Policy after the Executive's Interest is determined according to Section 3.1.

Company’s Interest. The Company shall own the Policy and shall have the right to exercise all incidents of ownership except that the Company shall not sell, surrender or transfer ownership of a Policy so long as the Executive has an interest in the Policy as described in Section 3.1. However, the Company may replace the Policy with a policy that provides comparable death benefits to cover the benefit provided under this Agreement. This provision shall not impair the right of the Company, subject to Article 9, to terminate this Agreement. The Company shall be the beneficiary of the remaining death proceeds of the Policy after the Executive's ’s Interest is determined according to Section 3.1.

Company’s Interest. The Company shall own the Policy Policies and shall have the right to exercise all incidents of ownership except that the Company shall not sell, surrender or transfer ownership of a Policy so long as the Executive a Participant has an interest in the Policy as described in Section section 3.1. However, the Company may replace the Policy with a policy that provides comparable death benefits to cover the benefit provided under this Agreement. This provision shall not impair the right of the Company, subject to Article 9, Company to terminate this AgreementPlan. The With respect to each Policy, the Company shall be the beneficiary of the remaining death proceeds of the Policy after the Executive's Participant’s Interest is determined according to Section section 3.1.

Company’s Interest. The Company shall own the Policy Policies and shall have the right to exercise all incidents of ownership except that the Company shall not sell, surrender or transfer ownership of a Policy so long as the Executive a Participant has an interest in the Policy during the time periods as described in Section section 3.1. However, the Company may replace the Policy with a policy that provides comparable death benefits to cover the benefit provided under this Agreement. This provision shall not impair the right of the Company, subject to Article 9, Company to terminate this AgreementPlan. The With respect to each Policy, the Company shall be the direct beneficiary of the remaining death proceeds of the Policy after the ExecutiveParticipant's Interest is determined according to Section section 3.1.

Company’s Interest. The Company shall own the Policy Policies and shall have the right to exercise all incidents of ownership ownership, except that the Company shall not sell, surrender surrender, or transfer ownership of a Policy so long as the Executive a Participant has an interest in the Policy as described in Section 3.1. However, the Company may replace section 3.1 without replacing the Policy with a comparable insurance policy that provides comparable death benefits to cover the benefit provided under by this AgreementPlan. This provision shall not impair the right of the Company, subject to Article 9, Company to terminate this AgreementPlan. The With respect to each Policy, the Company shall be the direct beneficiary of the remaining death proceeds of the Policy after the Executive's Interest Participant’s interest is determined according to Section section 3.1.

Company’s Interest. The Company shall own the Policy Policies and shall have the right to exercise all incidents of ownership except that the Company shall not sell, surrender or transfer ownership of a Policy so long as the Executive a Participant has an interest in the Policy as described in Section section 3.1. However, the Company may replace the Policy with a policy that provides comparable death benefits to cover the benefit provided under this Agreement. This provision shall not impair the right of the Company, subject to Article 9, Company to terminate this AgreementPlan. The With respect to each Policy, the Company shall be the direct beneficiary of the remaining death proceeds of the Policy after the Executive's Participant’s Interest is determined according to Section section 3.1.