Key-Person Term Life Insurance. The Company shall have applied for an insurance policy on the life of X. Xxxxxxxx, such policy (a) to name the Parent as sole beneficiary, (b) to be in form and substance satisfactory to the Parent, and (c) to be in the amount of Two Million Dollars ($2,000,000). Parent shall pay all premiums associated with this policy. Premiums associated with policy shall not reduce net income in the calculation of the July 1999 12 Month Adjusted Cash Flow.
Key-Person Term Life Insurance. The Company shall have applied for an insurance policy on the live of Xxxxxx, such policy (a) to name the Parent as sole beneficiary,
Key-Person Term Life Insurance. The Company shall have applied for an insurance policy on the lives of X. Xxxxxxx and Wheat, such policy (a) to name the Parent as sole beneficiary, (b) to be in form and substance satisfactory to the Parent, and (c) to be in the amount of Two Million Dollars ($2,000,000) each.
Key-Person Term Life Insurance. The Company shall have applied for an insurance policy on the lives of Nolix xxx Poulxxxxx, xxch policies (a) to name the CNCP as sole beneficiary, (b) to be in form and substance satisfactory to the CNCP, and (c) to be in the amount of FOUR MILLION and NO/100 DOLLARS ($4,000,000.00) each.
Key-Person Term Life Insurance. The Seller shall have applied for an insurance policy on the lives of Stevens and Payne, suxx xxxxcies (x) xx name the Parent as sole beneficiary, (b) to be in form and substance satisfactory to the Parent, and (c) to be in the amount of Two Million Dollars ($2,000,000) each.
