Life policy Sample Clauses

Life policy. The Bank may from time to time and at any time hereafter require the Borrower to take up and maintain a life assurance policy or any other policy guaranteeing the repayment of all the moneys hereby secured or any part thereof whether absolutely or on the happening of a contingency and to assign the said policy and all benefits and advantages thereunder to the Bank as further security for all moneys hereby secured and in default by the Borrower of the taking up and maintaining of such policy and assigning the same as and when required, the Bank may in its discretion take up and maintain such policy guaranteeing the repayment of all moneys hereby secured or any part thereof on such terms as the Bank may think fit, and all costs and expenses incurred by the Bank in taking out and maintaining the said policy shall become payable by the Borrower to the Bank and until repayment of such costs and expenses, the Borrower shall in addition pay to the Bank interest thereon at the Prescribed Rate calculated until the date of receipt by the Bank of such repayment thereof from the Borrower and such sum expended and interest thereon shall be deemed to be secured on the Property in addition to the Loan and other monies and liabilities secured.
Sample 1
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Related to Life policy

  • Paid Up Life Policy At age sixty-five (65) or the date of retirement, an employee who has carried optional employee life insurance for the five (5) consecutive years immediately preceding the date of the employee’s retirement or age sixty-five (65), whichever is later, shall receive a post-retirement paid-up life insurance policy in an amount equal to fifteen

  • Life Insurance No portion of your IRA may be invested in life insurance contracts.

  • Leave Policy See applicable administrative policy.

  • Term Life Insurance The Employer will maintain and make available to full-time and part-time employees, the current term life insurance plan as set forth in the document "Summary of Health Benefits, Maryland State Employees."

  • Life Coverage Paragraph 1: The Board shall provide a group term life coverage in the sum of $30,000 for all teachers employed half time or more. Any increases in coverage shall not be effective until the teacher reports or is able to report for work.

  • Group Insurance Plan The carriers, coverage, and terms and conditions of participation under the District’s Group Insurance Plan are subject to change in accordance with the applicable provisions of Title I, Division 4, Chapter 10 of the California Government Code (Section 3500 et seq.) (Xxxxxx‐Milias‐Brown Act).

  • Additional Life Insurance All eligible employees shall be permitted to purchase term life insurance in addition to the amount provided by the Board in paragraph C. of this Article.

  • GROUP INSURANCE PLANS 15.01 The Company agrees to provide all full time employees with one (1) or more years of continuous service, a *Short Term Disability Benefit (S.T.D.) as generally described in Section B of a notice to all employees of the amended Benefit Plan dated May 1, 1993. *Payment for Short Term Disability shall begin on the third (3rd) consecutive day of absence. For those employees who have completed ninety (90) days of perfect attendance from the last date of return to work from an absence due to sickness or accident, shall be paid S.T.D. from the first (1st) day for the first covered absence following the ninety (90) days of perfect attendance.

  • Group Life Insurance Plan Section 1 - Eligibility Regular full-time and regular part-time employees who are on staff January 1, 1979 or who join the staff following this date shall, upon completion of the three-month probationary period, become members of the Group Life Insurance Plan as a condition of employment.

  • Retiree Life Insurance Employees who retire under the Monroe County Employees' Retirement System shall be eligible for $4,000.00 term life insurance. All employees hired by the Employer on or after October 1, 2007 shall not be eligible for Retiree Life Insurance.

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