Keyman Insurance. The Company may obtain keyman life insurance upon the life of the Executive in amounts to be determined from time to time by Executive and the Company.
Keyman Insurance. Within 90 days after the Closing Date, Borrower shall use commercially reasonable efforts to obtain, and shall thereafter maintain, keyman life insurance on the life of its chief executive officer, in such amounts as Borrower reasonably determines to be appropriate, the proceeds of which insurance shall be collaterally assigned to Agent, as security for the Obligations. In connection therewith, Borrower shall deliver to Agent a certified copy of the underlying insurance policy or policies and executed collateral assignments thereof, in each case in form and substance satisfactory to Agent in its reasonable judgment.
Keyman Insurance acknowledges that the Lender will take out a life insurance policy (with the Lender being the policy owner) with respect to Xx. Xx with a coverage of at least RMB200,000,000 with such insurer and on such terms as the Lender may determine, each of the Borrowers undertakes that it will on demand pay all premium, all fees and all other expenses which may be incurred by the Lender in respect thereof from time to time;
Keyman Insurance. The Company and the Employee hereby agree that, subject to the insurability of the Employee, the Company shall apply for and procure in the name of the employee for the Company's own benefit keyman life insurance in any amount or amounts considered advisable but not less than Two Million dollars ($2,000,000) and that Employee shall have no right, title or interest therein. The Employee agrees to submit to any medical or other examination and to execute and deliver any application or other instrument necessary to effectuate such life insurance.
Keyman Insurance. Borrower shall maintain in full force and effect keyman insurance on the lives of Messrs. Xxxxxxx X. Xxxxxxxxxx and Xxxxxx X. Xxxxxxxxxx XX in the aggregate amount for both policies of at least $2,500,000 and with an aggregate cash surrender value, net of policy loans and previous assignments of interest, of at least $152,000. Borrower shall make payment when due of all premiums owing in respect of such keyman insurance.
Keyman Insurance. If the Employer desires to get keyman insurance on the life of the Employee, the Employee will cooperate in such efforts and will agree to submit to reasonable medical tests reasonably required to obtain such insurance.
Keyman Insurance. The Company has no keyman or equivalent insurance with respect to any of its directors or employees.
Keyman Insurance. Based on its discussions with ---------------- insurance agents and underwriters and the relevant information provided by the Management Sellers to Buyer, Buyer has no reason to believe that there exists any substantial uncertainty as to whether it will be able to purchase term life insurance policies as described in the first sentence of Section 5.16 in an amount sufficient to satisfy the condition set forth in Section 6.2(j).
Keyman Insurance. Borrowers will cause to be maintained the keyman life insurance coverage required under Section 4.4 and will deliver to Lender evidence of such coverage showing all premiums paid for the subsequent 12-month period at least thirty (30) days prior to the expiration of such insurance policy.
Keyman Insurance. The Company shall have the option to maintain and be the owner and beneficiary If a term life insurance policy payable upon the Executive's death within minimum policy limit of $5 million, and Executive agrees to submit to any physical examination, and to otherwise cooperate in any other procedures required to obtain such policy,
