EXCESS INSURANCE PROCEEDS RECEIVED. Any insurance proceeds received by the Corporation under life insurance policies subject to this Agreement in excess of the amount necessary to complete the purchase and sale of Common Shares as provided for in Article 6 shall be retained by the Corporation.
Appears in 5 contracts
Samples: Shareholder Agreements, Shareholders Agreement, Shareholders' Agreement
EXCESS INSURANCE PROCEEDS RECEIVED. Any insurance proceeds received by the Corporation a Shareholder under any life insurance policies policy subject to this Agreement in excess of the amount necessary to complete the purchase and sale of Common Shares as provided for in Article 6 shall be retained by the Corporationsuch Shareholder.
Appears in 2 contracts
EXCESS INSURANCE PROCEEDS RECEIVED. Any insurance proceeds received by the Corporation under life insurance policies subject to this Agreement in excess of the amount necessary to complete the purchase and sale of Common Shares as provided for in Article 6 or 7 shall be retained by the Corporation.
Appears in 2 contracts
Samples: Shareholders' Agreement, Shareholder Agreement
EXCESS INSURANCE PROCEEDS RECEIVED. 0000-00-0000 Any insurance proceeds received by the Corporation under life insurance policies subject to this Agreement in excess of the amount necessary to complete the purchase and sale of Common Shares as provided for in Article 6 shall be retained by the Corporation.
Appears in 2 contracts
Samples: Shareholders Agreement, Shareholders Agreement
