Investment in Insurance Contracts Sample Clauses

Investment in Insurance Contracts for the Benefit of the Participant -------------------------------------------------------------------- If the Employer shall permit, each Participant shall have the right to request that the Committee direct the Trustee to purchase one (1) or more Contracts for the benefit of an Individual Account of the Participant, subject to the following restrictions:
Sample 1
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Investment in Insurance Contracts. If the Employer chooses in the Adoption Agreement to allow insurance as an investment of the Trust Fund, the Administrator or an individual Participant may direct that part or all of the contributions by or for any Participant be allocated to such Participant's insurance account and used to purchase and pay premiums for appropriate annuity Contracts or life insurance Contracts on the life of the Participant from such legal reserve insurance companies as shall be designated by the Administrator or Participant from time to time. Any amounts not used for premium payment because of small differences between premium amounts and the percentage of contributions actually allocated may be applied against future premiums or returned to the account from which allocated as directed by the Participant.
Sample 1
Investment in Insurance Contracts. To invest in life insurance contracts upon the life of a beneficiary or any person in which any beneficiary shall have an insurable interest; provided that, with respect to the policies of insurance on the life of the Settlor or the Settlor’s spouse, only trust principal (not trust income) may be used to pay premiums on such policies.
Sample 1
Investment in Insurance Contracts. The Trustee or the Investment Manager, if appropriate, if the Trustee or an Investment Manager has been selected to direct investment of Employer and/or Matching Accounts and/or Participant Accounts and/or Elective Deferral Accounts and/or Rollover Accounts and/or Qualified Matching Contribution accounts and/or Qualified Nonelective Contribution accounts under the Adoption Agreement, may direct that Employer and/or Participant and/or Elective Deferral and/or Rollover and/or Matching Contributions and/or Qualified Matching Contributions and/or Qualified Nonelective Contributions made on behalf of Participants be used to pay premiums on Insurance Contracts. If the Participant or Beneficiary has been selected to direct investment of his Employer and/or Matching Accounts and/or Participant Accounts and/or Elective Deferral Accounts and/or Rollover Accounts and/or Qualified Matching Contribution accounts and/or Qualified Nonelective Contribution accounts under the Adoption Agreement, the Participant or Beneficiary (if applicable) may direct, on the Appropriate Form furnished by, and returned to, the Administrative Committee, that Employer and/or Matching and/or Participant and/or Elective Deferral and/or Rollover Contributions and/or Qualified Matching Contributions and/or Qualified Nonelective Contributions made on his behalf be used to pay premiums on Insurance Contracts. Any death benefit payable under any non-transferable annuity or endowment policies thereunder shall not exceed 100 times the anticipated monthly annuity to be provided thereby. Moreover, the portion of any Employer, -55- 64 Elective Deferral and/or Matching and/or Qualified Matching and/or Qualified Nonelective Contributions, if used to purchase:
Sample 1
Investment in Insurance Contracts. The Trustees may offer one (1) or more Investment Funds pursuant to one (1) or more agreements with insurance companies qualified to do business in the State of Georgia. Any asset invested pursuant to such an agreement shall be held by the insurance company. Each insurance company so selected shall certify the value of the Trust’s interest in the property held by it at least annually. The Trustees shall be entitled to rely conclusively on such valuation for all purposes under the Trust Agreement.
Sample 1

Related to Investment in Insurance Contracts

  • Insurance Contracts To the extent that any Welfare Plan is funded through the purchase of an insurance contract or is subject to any stop loss contract, the Parties shall cooperate and use their commercially reasonable efforts to replicate such insurance contracts for SpinCo or Parent as applicable (except to the extent that changes are required under applicable Law or filings by the respective insurers) and to maintain any pricing discounts or other preferential terms for both Parent and SpinCo for a reasonable term. Neither Party shall be liable for failure to obtain such insurance contracts, pricing discounts, or other preferential terms for the other Party. Each Party shall be responsible for any additional premiums, charges, or administrative fees that such Party may incur pursuant to this Section 7.06.

  • Key Person Insurance At any time during the Term, the Company shall have the right to insure the life of Executive for the Company’s sole benefit. The Company shall have the right to determine the amount of insurance and the type of policy. Executive shall reasonably cooperate with the Company in obtaining such insurance by submitting to physical examinations, by supplying all information reasonably required by any insurance carrier, and by executing all necessary documents reasonably required by any insurance carrier, provided that any information provided to an insurance company or broker shall not be provided to the Company without the prior written authorization of Executive. Executive shall incur no financial obligation by executing any required document, and shall have no interest in any such policy.

  • Additional Insurance Contractor may obtain additional insurance not required by this Contract.

  • R&W Insurance During the Interim Period, Acquiror may (but shall not be required to) obtain a buyer-side representations and warranties insurance policy with respect to the representations and warranties of the Company, in the name of and for the benefit of Pubco (the “R&W Policy”), which the Acquiror shall give the Company and its Representatives a reasonable opportunity to review and must be reasonably satisfactory to the Company. The Company will use commercially reasonable efforts to provide to Acquiror, during the Interim Period, reasonable assistance as is reasonably required so as to permit the binding and issuance of the R&W Policy at or prior to the Closing, including the execution and delivery of such no-claims declarations as is reasonably necessary (with such exceptions as deemed necessary by the Company) in connection with the issuance of the R&W Policy; provided that any such no-claims declaration given by an officer of the Company shall only be required to be given in such individuals’ capacity as an officer of the Company, and not in any individual capacity; provided further that the failure to deliver any no-claims declaration or breach of the covenants set forth in this Section 7.09, shall not constitute a failure of the condition set forth in Section 10.02(b) to be satisfied. If obtained by Acquiror, the R&W Policy shall provide that (i) the insurer or a Person claiming through the insurer shall have no, and shall waive and not pursue any and all, subrogation rights against the Company (including any successor entities) or any of its (including any successor entities) Affiliates (including any Pre-Closing Holder) with respect to any claim made by any insured thereunder (except against such Person to the extent a claim is paid by the insurer under the R&W Policy as a direct result of such Person’s Fraud); (ii) the Company (including any successor entities) is a third-party beneficiary of such waiver with the express right to enforce such waiver; and (iii) no Person shall amend the R&W Policy in a manner adverse to the Company (including any successor entities) or any of its Affiliates (including any Pre-Closing Holder) (including, for the avoidance of doubt, to provide that the insurer or any other Person may bring a claim against the Company (including any successor entity) or its Affiliates (including any Pre-Closing Holder) by way of subrogation (except as a direct result of such Person’s Fraud)), without the Company’s prior written consent. All reasonable and documented out-of-pocket costs and expenses incurred by Acquiror and the Company in obtaining the R&W Policy, including all premiums, brokers fees, and related costs, shall be treated as Acquiror Transaction Expenses.

  • Life Insurance Policies If any Debtor, now or any time hereafter, is the beneficiary of a “key man life insurance policy”, it shall promptly notify the Agent thereof, provide the Agent with a true and correct list of the Persons insured, the name and address of the insurance company providing the coverage, the amount of such insurance and the policy number, and, unless otherwise waived by the Agent in writing, take such actions as Agent may deem necessary or the Agent shall deem reasonably desirable to collaterally assign policy to the Agent for the benefit of the Lenders.

  • Separate Insurance Borrower shall not take out separate insurance contributing in the event of loss with that required to be maintained pursuant to this Section 6.1 unless such insurance complies with this Section 6.1.

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • FDIC Insurance For any deposit accounts you open, the FDIC requires Bank to disclose, and you hereby acknowledge, that deposits held by Evolve Bank & Trust are insured up to $250,000 federal deposit insurance limit, per depositor for each ownership category.

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