Maintenance of Key Man Insurance. The Company will, at its expense, within sixty (60) days of the Closing Date maintain a life insurance policy with a responsible and reputable insurance-company payable to the Company on the life of each of Nick Xxxxxx xxx Bretx Xxxxxxxxx, xxch in the face amount of $2 million. The Company will maintain such policies and will not cause or permit any assignment of the proceeds of such policies and will not borrow against such policies. The Company will add one designee of the Purchaser as a notice party to such policies, and will request that the issuer of such policies provide such designee with ten (10) days, notice before either of such policy is terminated (for failure to pay premium or otherwise) or assigned, or before any change is made in the designation of the beneficiary thereof.
Maintenance of Key Man Insurance. The Company shall obtain and deliver to the Trustee, for the benefit of the Company, a certificate of life insurance policy from an insurer insuring the life of Xxxxx X. Xxxxxx in the amount of at least $2,000,000 (the "Key-man Insurance"). The Company shall maintain the Key-man Insurance in full force and effect throughout the term of the Notes and this Indenture.
Maintenance of Key Man Insurance. 14 3.4 Compliance with Laws, etc......................................... 14 3.5 Inspection........................................................ 14 3.6 Corporate Existence; Ownership of Subsidiaries.................... 15 3.7
Maintenance of Key Man Insurance. 12 3.4 Compliance with Laws, etc ...........................................12 3.5 Inspection ..........................................................13
Maintenance of Key Man Insurance. Maintain term life insurance on the life of Barrx Xxxxxxxxx xx the amount of $1,000,000, for so long as such person remains an officer or employee of the Company, the proceeds of which are payable to the Company. The Company will maintain Technology Leaders L.P., Technology Leaders Offshore C.V. and Bessemer Venture Partners III L.P. as notice parties to such policy and shall use reasonable efforts to ensure that the issuer of such policy provides each such party with at least twenty (20) days' notice before such policy is modified or terminated (for failure to pay premium or otherwise) or assigned, or before any change is made in the designation of the beneficiary thereof.
Maintenance of Key Man Insurance. The Company will, at its expense, obtain prior to the Closing and thereafter maintain a life insurance policy with a responsible and reputable insurance company payable to the Company on the life of each of Drs. Evanxxxxx Xxxxxx, Xxchxxx Xxxxxxx xxx Alexxxxxx Xxxxxxxxx xx long as such Person is an employee of the Company, each in the face amount of $2,000,000. The Company will maintain such policies and will not cause or permit any assignment of the proceeds of such policies, and will not borrow against such policies. The Company will add one designee of the Institutional Investors as a notice party to such policies, and will request that the issuer of such policies provide such designee with ten (10) days' notice before either such policy is terminated (for failure to pay premium or otherwise) or assigned, or before any change is made in the designation of the beneficiary thereof.
Maintenance of Key Man Insurance. The Company will, at its expense, use its best effort to maintain a life insurance policy with a death benefit of at least $ 1,000,000 with a responsible and reputable insurance company payable to the Company on the life of each of Xxxx Xxx Xxxxxx and Xxxxxx Xxxxxx. The Company will maintain such policies and will not cause or permit any assignment of the proceeds of such policies and will not borrow against such policies. The Company will add one designee of the Purchasers as a notice party to such policy, and will request that the issuer of each policy provide such designee with ten (10) days' notice before either such policy is terminated (for failure to pay premium or otherwise) or assigned, or before any change is made in the designation of the beneficiary thereof. Each of the Principal Shareholders hereby represents and warrants that he or she has not in the past been denied insurance on usual and customary rates available for an insured without a pre-existing condition, and that he or she has no knowledge of any fact or circumstance which would prevent the Company from obtaining life insurance on his or her life at such usual and customary rates.
Maintenance of Key Man Insurance. Prior to December 31, 1996, the Company will, at its expense, obtain and maintain life insurance policies with a responsible and reputable insurance company payable to the Company on the lives of each of the Principal Shareholders, in the face amount of $1,000,000 each. The Company will maintain such policies and will not cause or permit any assignment of the proceeds of such policies and will not borrow against such policies. The Company will add one designee of the Purchasers as a notice party to each such policy, and will request that the issuer of each such policy provide such designee with ten (10) days' notice before such policy is terminated (for failure to pay premium or otherwise) or assigned, or before any change is made in the designation of the beneficiary thereof.
Maintenance of Key Man Insurance. The Company will, at its expense, maintain a life insurance policy in the face amount of $1,000,000 with a responsible and reputable insurance company payable to the Company on the life of Xxxxxxx Xxxxxxxxx. The Company will maintain such policy and will not cause or permit any assignment of the proceeds of such policy and will not borrow against such policy; PROVIDED, HOWEVER, that the Company may assign the proceeds thereof to its senior lender in connection with the Senior Credit Agreement. The Company will add one designee of the Purchasers as a notice party to such policy, and will request that the issuer of each policy provide such designee with ten (10) days' notice before such policy is terminated (for failure to pay premium or otherwise) or assigned, or before any change is made in the designation of the beneficiary thereof.
Maintenance of Key Man Insurance. The Company will, at its expense, maintain a life insurance policy in the face amount of $1,000,000 with a responsible and reputable insurance company payable to the Company on the life of each of the Principal Shareholders. The Company will maintain such policies and will not cause or permit any assignment of the proceeds of such policies and will not borrow against such policies. The Company will add one designee of the Purchasers as a notice party to such policies, and will request that the issuer of each policy provide such designee with ten (10) days' notice before such policy is terminated (for failure to pay premium or otherwise) or assigned, or before any change is made in the designation of the beneficiary thereof. Each of the Principal Shareholders hereby represents and warrants that he has not prior to the Closing Date been denied insurance on usual and customary rates available for an insured without a pre-existing condition, and that he has no knowledge of any fact or circumstance which would prevent the Company from obtaining life insurance on his life at such usual and customary rates.
