Limitations on Owner's Rights in Policy. The Owner shall not sell, assign, transfer, borrow against, surrender or cancel the Policy, change the beneficiary designation provision thereof, or terminate the dividend election thereof.
Limitations on Owner's Rights in Policy a. The Owner shall take no action with respect to the Policies that would in any way compromise, jeopardize or otherwise adversely affect the Corporation's rights under this Agreement.
Limitations on Owner's Rights in Policy a. Except as otherwise provided herein, the Owner shall not sell, assign, transfer, borrow against, surrender or cancel the Policy, nor change the beneficiary designation provision thereof, without, in any such case, the express written consent of the Corporation.
Limitations on Owner's Rights in Policy a. The Owner shall take no action with respect to the policies which would in any way compromise or jeopardize TALX’s right to be repaid the amounts it has paid toward premiums on the Policies while this Agreement is in effect.
Limitations on Owner's Rights in Policy. The Owner shall not sell, assign, transfer, borrow against or withdraw from the cash surrender value of the Policy, surrender, or cancel the Policy without, in any such case, the express written consent of the Company. Further, the Owner shall not change the beneficiary designation provision of the Policy, change the elected death benefit option provisions thereof, decrease or increase the face amount of insurance, fail to make premium payments, take any other action, or fail to take any action if, as a result of any such action or inaction, (a) the aggregate death benefits payable under the Policy at any given time would be less than the portion of the death benefits payable to the Company pursuant to the first sentence of section 6(b) below if the Employee's death was to occur at such time or (b) the cash surrender value of the Policy would be reduced (provided, however, that this clause shall not prevent the Owner from taking any action, or failing to take any action, if, as a result thereof, the cash surrender value of the Policy is reduced to an amount that is at least equal to the aggregate amount of premium payments made by the Company hereunder).
Limitations on Owner's Rights in Policy a. The Owner shall take no action with respect to the Policy which would in any way compromise or jeopardize the Corporation's right to be repaid the amounts it has paid toward premiums on the Policy while this Agreement is in effect.
Limitations on Owner's Rights in Policy a. Except as otherwise provided herein, the Owner shall not sell, assign, transfer, borrow against or withdraw from the cash surrender value of the Policy, surrender or cancel the Policy, change the beneficiary designation provision thereof, or change the Face Amount of Insurance or the Death Benefit Option of the Policy without, in any such case, the express written consent of the Corporation.
