Key Man Life Insurance Policy. The Company shall have delivered ----------------------------- to the Bank assignments of key man life insurance policy, designating the Bank as assignee of all proceeds thereof in the aggregate amount of $500,000 on the life of Xxxxxxx Xxxxx, which certificate of insurance and the assignment thereof shall be in form and substance satisfactory to the Bank and its legal counsel.
Key Man Life Insurance Policy. The Borrower shall deliver or cause to be delivered to Agent an assignment of a term life insurance policy in the amount of Twenty-Two Million and 00/100 Dollars ($22,000,000) insuring the life of Russxxx X. Xxxt, said assignment to be in substantially the form attached hereto as Exhibit I, and shall maintain or cause to be maintained said policy in full force and effect and assigned to Agent throughout the term of this Agreement; provided that the Borrower shall hold the policy and be entitled to receive the proceeds thereof (and the Agent shall promptly pay over to the Borrower any of such proceeds received by the Agent) so long as no Event of Default has occurred.
Key Man Life Insurance Policy. Borrower shall use its best efforts to obtain a Key Man Life Insurance Policy insuring the life of Rechxxxx, xxich policy, shall be in an amount of not less than Two Million Dollars ($2,000,000) and once obtained, shall be beneficially assigned to Lender.
Key Man Life Insurance Policy. The Company is responsible for payment of Employee’s Key Man Life Insurance Policy and Directors and Management Insurance for the term of this Agreement. In addition, due to the nature of Employee’s duties to the Company and the inherent risk therein, the Company will provide disability and life insurance for Employee commensurate with Four (4) times his total compensation from the Company.
Key Man Life Insurance Policy. The Company shall obtain on or prior to that date which is forty-five (45) days after the Closing Date, and thereafter shall maintain, a "key man" life insurance policy on the life of the Principal in an amount equal to at least One Million Dollars ($1,000,000) issued by an insurer satisfactory to the Bank and otherwise on terms and conditions satisfactory to the Bank which policy shall be collaterally assigned by the Company to the Bank as additional collateral for the Obligations.
Key Man Life Insurance Policy. A key- man life insurance policy in the amount of $1,000,000 shall have been issued on the life of Xxxxxxx X. Xxxx, as President of the Company, effective as of the Closing Date, naming the Bank as beneficiary. Bank shall pay the premium for such policy.
Key Man Life Insurance Policy. A copy of the Key Man Life Insurance Policy, in form and substance acceptable to Lender.
Key Man Life Insurance Policy. Maintain a key man life insurance policy on the life of in an amount not less than $ . Loan
Key Man Life Insurance Policy. The Borrower shall have obtained a life insurance policies in the minimum amount of $1,000,000 each with respect to John Rooney and Michael Bayley.
Key Man Life Insurance Policy. The Agent shall have received a copy of a key man life insurance policy on the life of Xxxx Xxxxxxx from a responsible and reputable life insurance company in the amount of $2,000,000 together with a collateral assignment of such life insurance policy to the Agent for the benefit of the Banks (in a form acceptable to the Agent in its sole discretion), duly executed by the Borrower, and acknowledged by the home office of the insurance company.
