Common use of Key Person Life Insurance Clause in Contracts

Key Person Life Insurance. The Company shall maintain term life insurance in the amount of $1,000,000 for Rxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx on the lives of the Key Holders, naming the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable following the closing of the sale of the Series A Preferred Stock pursuant to the Series A Agreement.

Key Person Life Insurance. The Company shall will maintain term key person life insurance in the an amount of no less than $1,000,000 for Rxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx on the lives life of Xxxxxx X. Xxxx and pay the Key Holders, annual premiums therefor naming the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable the sole beneficiary thereof for at least three years following the closing of the sale of the Series A Preferred Stock pursuant to the Series A AgreementEffective Date.

Key Person Life Insurance. The Company shall will maintain term key person life insurance in the an amount of not less than $1,000,000 for Rxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx on the lives life of Xxxxxx Xxxxxxxxxxx, to be in effect as of the Key HoldersEffective Date, naming and pay the annual premiums therefor and name the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable following the closing of the sale of the Series A Preferred Stock pursuant to the Series A Agreementsole beneficiary thereof.

Key Person Life Insurance. The Company shall will maintain term key person life insurance in the an amount of not less than $1,000,000 for Rxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx 1,200,000 on the lives life of E. Xxxxxxx Xxxxx and pay the Key Holders, annual premiums therefor naming the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable the sole beneficiary thereof for at least three years following the closing of the sale of the Series A Preferred Stock pursuant to the Series A AgreementEffective Date.

Key Person Life Insurance. The Company shall will maintain term key person life insurance in an amount not less than $5,000,000 on the amount life of $1,000,000 for Rxx Xxxxxx Xxxxx Xxxxxxxxx and $5,000,000 for Hxxxxx Xxxxx 2,000,000 on the lives life of Xxxxxxx Xxxxxx, to be in effect as of the Key HoldersEffective Date, naming and pay the annual premiums therefor and name the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable the sole beneficiary thereof for at least three years following the closing of the sale of the Series A Preferred Stock pursuant to the Series A AgreementEffective Date.

Key Person Life Insurance. The Company shall will maintain term key person life insurance in the an amount of not less than $1,000,000 for Rxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx each on the lives of Michxxx X. Xxxxx xxx Jeffxx Xxxxxx, xx be in effect as of the Key HoldersEffective Date, and pay the annual premiums therefor naming the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable the sole beneficiary thereof for at least three years following the closing of the sale of the Series A Preferred Stock pursuant to the Series A AgreementEffective Date.

Key Person Life Insurance. The Company shall has purchased and will ------------------------- maintain term key person life insurance in the an amount of no less than $1,000,000 for Rxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx on the lives of each of Xxxxxx X. Xxxx and Xxxxxxx X. X'Xxxx and pay the Key Holders, annual premiums therefor naming the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable the sole beneficiary thereof for at least five years following the closing of the sale of the Series A Preferred Stock pursuant to the Series A AgreementEffective Date.

Key Person Life Insurance. The For a period of three years from the Effective Date, the Company shall agrees to maintain term key person life insurance in the an amount of not less than $1,000,000 for Rxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx on the lives life of Xxxx X. Xxxxxxx, and agrees to pay the Key Holders, naming annual premiums for the policy which shall name the Company as the sole beneficiary. The Company shall obtain such insurance as soon as reasonably practicable following the closing of the sale of the Series A Preferred Stock pursuant to the Series A Agreement.

Key Person Life Insurance. The Company shall will maintain term key person life insurance in the an amount of no less than $1,000,000 for Rxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx 2,000,000 each on the lives life of Xxxxxx X. Xxxxxxxxx and pay the Key Holders, annual premiums therefor naming the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable the sole beneficiary thereof for at least three years following the closing of the sale of the Series A Preferred Stock pursuant to the Series A AgreementEffective Date.

Key Person Life Insurance. The Company shall will maintain term key person life insurance in an amount no less than $1 million on the amount life of $1,000,000 for Rxx Xxxxxxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx on pay the lives of the Key Holders, annual premium naming the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable the sole beneficiary thereof for at least three years following the closing of the sale of the Series A Preferred Stock pursuant to the Series A AgreementEffective Date.

Key Person Life Insurance. The Company shall will maintain term key person life insurance in the an amount of $1,000,000 for Rxx Xxxxxx and not less than $5,000,000 on the life of W. Xxxxxxx Xxxxxxxxxxx and up to $3,000,000 as agreed by the Underwriters and the Company for Hxxxxx Xxxxx on the lives of any two other executive officers, to be in effect within thirty days after the Key HoldersEffective Date, naming and pay the annual premiums therefore and name the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable the sole beneficiary thereof for at least three years following the closing of the sale of the Series A Preferred Stock pursuant to the Series A AgreementEffective Date.

Key Person Life Insurance. The Company shall will maintain term key person life insurance in the an amount of no less than Five Million ($1,000,000 for Rxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx 5,000,00) Dollars on the lives life of Xxxx X. Xxxxxxxxxxxxxx and pay the Key Holders, annual premiums therefore naming the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable the sole beneficiary thereof, for at least three years following the closing of the sale of the Series A Preferred Stock pursuant to the Series A AgreementEffective Date.

Key Person Life Insurance. The Company shall will maintain term key person life insurance with an insurance company which is reasonably satisfactory to the Underwriter in the an amount of no less than $1,000,000 for Rxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx 2,000,000 on the lives of the Key Holderseach of Messrs. Xxxxx Xxxxx, Xxxx Xxxx and Xxxxx Xxxx, naming the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable the sole beneficiary thereof, for at least three years following the closing of the sale of the Series A Preferred Stock pursuant to the Series A AgreementEffective Date.

Key Person Life Insurance. The Company shall will maintain term key person life insurance with an insurance company which is reasonably satisfactory to the Representatives in the an amount of no less than $1,000,000 for Rxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx 2,000,000 on the lives of the Key Holderseach of Messrs. Xxxxx Xxxxx, Xxxx Xxxx and Xxxxx Xxxx, naming the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable the sole beneficiary thereof, for at least three years following the closing of the sale of the Series A Preferred Stock pursuant to the Series A AgreementEffective Date.

Key Person Life Insurance. The Company shall will maintain term key person life insurance in the an amount of no less than $1,000,000 for Rxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx on the lives life of Xxxx X. Xxxxxxx and pay the Key Holders, annual premiums therefor naming the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable the sole beneficiary thereof for at least three years following the closing of the sale of the Series A Preferred Stock pursuant to the Series A AgreementEffective Date.

Key Person Life Insurance. The Company shall maintain term will maintain, for a period ------------------------- of not less than one year from the Effective Date, key person life insurance in the an amount of no less than $1,000,000 for Rxx on the life of Xxxxxxx X. Xxxxxx and $5,000,000 for Hxxxxx Xxxxx on pay the lives of the Key Holders, naming annual premiums therefor and name the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable following the closing of the sale of the Series A Preferred Stock pursuant to the Series A Agreementsole beneficiary thereof.

Key Person Life Insurance. The Company shall will maintain term key person life insurance in the an amount of not less than $1,000,000 for Rxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx on the lives life of Jxxx X. Xxxxx, to be in effect as of the Key HoldersEffective Date, naming and pay the annual premiums therefor and name the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable the sole beneficiary thereof for at least three years following the closing of the sale of the Series A Preferred Stock pursuant to the Series A AgreementEffective Date.

Key Person Life Insurance. The Company shall will maintain term key person life insurance in the an amount of not less than $1,000,000 for Rxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx 3,000,000 on the lives life of Xxxxx Xxxx to be in effect as of the Key HoldersEffective Date, naming and pay the annual premiums therefor and name the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable the sole beneficiary thereof for at least three years following the closing of the sale of the Series A Preferred Stock pursuant to the Series A AgreementEffective Date.

Key Person Life Insurance. The Company shall will maintain term key person life insurance in the an amount of not less than $1,000,000 for Rxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx on the lives life of Xxxx X. Xxxxxxxxx and pay the Key Holders, annual premiums therefor naming the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable the sole beneficiary thereof for at least three years following the closing of the sale of the Series A Preferred Stock pursuant to the Series A Agreement.Effective Date. 3.19

Key Person Life Insurance. The Company shall will maintain term key person life insurance in the an amount of not less than $1,000,000 for Rxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx [3,000,000] on the lives life of Hxx Xxxxxxxx, to be in effect as of the Key HoldersEffective Date, naming and pay the annual premiums therefor and name the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable following the closing of the sale of the Series A Preferred Stock pursuant to the Series A Agreementsole beneficiary thereof.

Key Person Life Insurance. The Company shall maintain term has key person life insurance in the an amount of no less than $1,000,000 for Rxx Xxxxxx and $5,000,000 for Hxxxxx Xxxxx on the lives of Xxxxxx Xxxxxxx and Xxxxx Xxxxx-Condivi and pay the Key Holders, annual premium therefor naming the Company as beneficiary. The Company shall obtain such insurance as soon as reasonably practicable the sole beneficiary thereof for at least three years following the closing of the sale of the Series A Preferred Stock pursuant to the Series A AgreementEffective Date.