Common use of Key Person Life Insurance Clause in Contracts

Key Person Life Insurance. The Company shall have the right to obtain, at its sole cost and expense, one or more insurance policies insuring the life of Executive for the benefit of the Company. Executive agrees to cooperate fully with the Company and to take such actions as the Company may reasonably require in order to obtain such insurance, including without limitation, signing necessary documentation and submitting to required medical exams.

Key Person Life Insurance. The Company shall have the right to obtain, at its sole cost and expense, one or more company may purchase “key-person” life insurance policies insuring on the Executive’s life in such amounts and of Executive for such types as is determined by the benefit Board of the CompanyDirectors. Executive agrees to shall cooperate fully with the Company in obtaining such insurance and shall submit to take such actions physical examinations and provide such information as the Company may is reasonably require in order required to obtain and maintain such insurance, including without limitation, signing necessary documentation and submitting to required medical examspolicies. Neither Executive nor his successor-in-interest or estate shall have any interest in any such key-person policies so obtained.

Key Person Life Insurance. The Company shall have maintain key person life insurance (under which the right to obtain, at its sole cost Company would be owner and expense, one or more insurance policies beneficiary of a policy insuring the life of Executive for Executive's life), the benefit of the Company. Executive agrees to fully cooperate fully with the Company Company’s efforts to secure such coverage, including but not limited to, accurately completing any insurance applications and undergoing any medical examinations required in connection with policy underwriting, and to take provide such actions consent as is necessary for the Company may reasonably require in order to obtain such insurance, including without limitation, signing necessary documentation and submitting favorable tax treatment under Section 101(j) of the Internal Revenue Code (as amended from time to required medical examstime).

Key Person Life Insurance. The Company shall have obtain and maintain key person life insurance (under which the right to obtain, at its sole cost Company would be owner and expense, one or more insurance policies beneficiary of a policy insuring the life of Executive for Executive's life), the benefit of the Company. Executive agrees to fully cooperate fully with the Company Company's efforts to secure such coverage, including but not limited to, accurately completing any insurance applications and undergoing any medical examinations required in connection with policy underwriting, and to take provide such actions consent as is necessary for the Company may reasonably require in order to obtain such insurance, including without limitation, signing necessary documentation and submitting favorable tax treatment under Section 101(j) of the Internal Revenue Code (as amended from time to required medical examstime).