DIVISION OF CASH SURRENDER VALUE. The Bank shall at all times be entitled to an amount equal to the Policy's cash value, as that term is defined in the Policy, less any Policy loans and unpaid interest or cash withdrawals previously incurred by the Bank and any applicable Policy surrender charges. Such cash value shall be determined as of the date of surrender of the Policy or death of the Insured as the case may be.
Appears in 25 contracts
Samples: Executive Indexed Compensation Benefits Agreement (Heritage Commerce Corp), Director Indexed Compensation Benefits Agreement (Heritage Commerce Corp), Executive Supplemental Compensation Agreement (Citizens Bancorp/Or)
DIVISION OF CASH SURRENDER VALUE. The Bank Company shall at all times be entitled to an amount equal to the Policy's cash value, as that term is defined in the Policy, less any Policy loans and unpaid interest or cash withdrawals previously incurred by the Bank Company and any applicable Policy surrender charges. Such cash value shall be determined as of the date of surrender of the Policy or death of the Insured as the case may be.
Appears in 2 contracts
Samples: Life Insurance Endorsement Method Split Dollar Agreement (Columbia Banking System Inc), Life Insurance Endorsement Method Split Dollar Agreement (Columbia Banking System Inc)
DIVISION OF CASH SURRENDER VALUE. The Bank Company shall at all times be entitled to an amount equal to the Policy's ’s cash value, as that term is defined in the Policy, less any Policy loans and unpaid interest or cash withdrawals previously incurred by the Bank Company and any applicable Policy surrender charges. Such cash value shall be determined as of the date of surrender of the Policy or death of the Insured as the case may be.
Appears in 2 contracts
Samples: Endorsement Method Split Dollar Agreement (Americanwest Bancorporation), Endorsement Method Split Dollar Agreement (Mountain Bank Holding Co)
DIVISION OF CASH SURRENDER VALUE. The Bank shall at all times be entitled to an amount equal to the Policy's ’s cash value, as that term is defined in the Policy, less any Policy loans and unpaid interest or cash withdrawals previously incurred by the Bank and any applicable Policy surrender charges. Such cash value shall be determined as of the date of surrender of the Policy or death of the Insured as the case may be.
Appears in 2 contracts
Samples: Endorsement Method Split Dollar Plan Agreement (Heritage Commerce Corp), Endorsement Method Split Dollar Plan Agreement (Heritage Commerce Corp)
DIVISION OF CASH SURRENDER VALUE. The Bank shall at all times be entitled to an amount equal to the Policy's cash value, as that term is defined in the Policy, less any Policy loans and unpaid interest or cash withdrawals previously incurred by the Bank and any applicable Policy surrender charges. Such cash value shall be determined as of the date of surrender of the Policy or death of the Insured as the case may be.
Appears in 1 contract
Samples: Life Insurance Endorsement Method Split Dollar Plan Agreement (Southwest Community Bancorp)
DIVISION OF CASH SURRENDER VALUE. The Bank shall at all times be entitled to an amount equal to the Policy's cash value, as that term is defined in the Policy, less any Policy loans and unpaid interest or cash withdrawals previously incurred by the Bank and any applicable Policy Policy' surrender charges. Such cash value shall be determined as of the date of surrender of the Policy or death of the Insured insured as the case may be.
Appears in 1 contract
Samples: Life Insurance Endorsement Method Split Dollar Plan Agreement (North Bay Bancorp/Ca)
DIVISION OF CASH SURRENDER VALUE. The Bank shall at all times be entitled to an amount equal to the Policy's cash value, as that term is defined in the Policy, less any Policy loans and unpaid interest or cash withdrawals previously incurred by the Bank and any applicable Policy surrender charges. Such cash value shall be determined as of the date of surrender of the Policy or death of the Insured as the case may my be.
Appears in 1 contract
Samples: Life Insurance Endorsement Method Split Dollar Plan Agreement (Vib Corp)
