OWNERSHIP AND MAINTENANCE OF POLICIES Sample Clauses

OWNERSHIP AND MAINTENANCE OF POLICIES. The Corporation shall ensure that the life insurance policies subject to this Agreement are at all times in good standing and in full force and effect, shall at all times be the policy owner of each such policy, shall be entitled at all times to receive the insurance proceeds payable on the death of a Shareholder under such policies and shall not, except as permitted under this Agreement or done with the consent of all the Shareholders, assign, transfer, dispose of, surrender, borrow against or upon, pledge, hypothec, in any way encumber or exercise any right of ownership in respect of, or otherwise deal in any manner whatever with such policies.
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OWNERSHIP AND MAINTENANCE OF POLICIES. Each Shareholder shall ensure that each Insurance Policy under which the person insured is other Shareholder is at all times in good standing and in full force and effect, shall at all times be the policy owner of each such policy, shall be entitled at all times to receive the insurance proceeds payable under each such policy as a consequence of the other Shareholder becoming Critically Ill and shall not, except as permitted under this Agreement or done with the consent of the other Shareholder, assign, transfer, dispose of, surrender, borrow against or upon, pledge, in any way encumber or exercise any right of ownership in respect of, or otherwise deal in any manner whatever with each such policy.
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OWNERSHIP AND MAINTENANCE OF POLICIES. The Corporation shall ensure that each Insurance Policy is at all times in good standing and in full force and effect, shall at all times be the policy owner of each such policy and shall not, except as permitted under this Agreement or done with the consent of the Shareholders, assign, transfer, dispose of, surrender, borrow against or upon, hypothec, pledge, in any way encumber or exercise any right of ownership in respect of, or otherwise deal in any manner whatever with each such policy.
Sample 1
OWNERSHIP AND MAINTENANCE OF POLICIES. Each Shareholder shall ensure that each life insurance policy on the life of the other Shareholder that is subject to this Agreement is at all times in good standing and in full force and effect, shall at all times be the policy owner of each such policy, shall be entitled at all times to receive the insurance proceeds payable on the death of the other Shareholder under each such policy and shall not, except as permitted under this Agreement or done with the consent of the other Shareholder, assign, transfer, dispose of, surrender, borrow against or upon, pledge, hypothec, in any way encumber or exercise any right of ownership in respect of, or otherwise deal in any manner whatever, with each such policy.
Sample 1
OWNERSHIP AND MAINTENANCE OF POLICIES. The Partnership shall ensure that the life insurance policies subject to this Agreement are at all times in good standing and in full force and effect, shall at all times be the policy owner of each such policy, shall be entitled at all times to receive the insurance proceeds payable on the death of a Partner under such policies and shall not, except as permitted under this Agreement or done with the consent of all the Partners, assign, transfer, hypothecate, dispose of, surrender, borrow against or upon, pledge, in any way encumber or exercise any right of ownership in respect of, or otherwise deal in any manner whatever with such policies.
Sample 1

Related to OWNERSHIP AND MAINTENANCE OF POLICIES

  • Construction and Maintenance There are on-going maintenance, renovation and construction projects taking place in and around the residences. The work typically takes place during regular business hours, but may begin earlier or extend into evenings or weekends. On-going construction or renovation projects will continue through midterm and final exam periods. The University will take measures to ensure that prudent construction practices are followed, but there may be noise, dust and temporary interruption of some services. Residents may be required to temporarily or permanently relocate to facilitate construction or renovation to their residence area. There will be no compensation or reduction to your residence fees due to disruption and/or relocation.

  • Operation and Maintenance 17.1 O&M obligations of the Concessionaire

  • Operations and Maintenance Pursuant to Section 10.5 of this Agreement, Developer shall pay the reasonable expenses (including overheads) for the operation, maintenance, repair and replacement of Transmission Owner’s Attachment Facilities and incremental operating and maintenance expenses incurred in association with System Upgrade Facilities, if and to the extent provided for under Attachment S. For Transmission Owner’s Attachment Facilities, such expenses are calculated as follows:

  • Operating and Maintenance Manuals 58.1 If “as built” Drawings and/or operating and maintenance manuals are required, the Contractor shall supply them by the dates stated in the Contract Data.

  • Operation and Maintenance Manuals Receipts for transmittal of Operation and Maintenance Manuals, Brochures and Data to the Design Professional (or Commissioning Agent) as required by Section 6.1.1.5.

  • Preservation, Maintenance, and Protection of the Property Inspections. Borrower will not destroy, damage, or impair the Property, allow the Property to deteriorate, or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower must maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless Lender determines pursuant to Section 5 that repair or restoration is not economically feasible, Borrower will promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid to Lender in connection with damage to, or the taking of, the Property, Borrower will be responsible for repairing or restoring the Property only if Xxxxxx has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed, depending on the size of the repair or restoration, the terms of the repair agreement, and whether Borrower is in Default on the Loan. Lender may make such disbursements directly to Borrower, to the person repairing or restoring the Property, or payable jointly to both. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower remains obligated to complete such repair or restoration. Lender may make reasonable entries upon and inspections of the Property. If Lender has reasonable cause, Xxxxxx may inspect the interior of the improvements on the Property. Lender will give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause.

  • Ordering and Maintenance CBB shall use Verizon’s electronic Operations Support System access platforms to submit Orders and requests for maintenance and repair of Services, and to engage in other pre-ordering, ordering, provisioning, maintenance and repair transactions. If Verizon has not yet deployed an electronic capability for CBB to perform a pre-ordering, ordering, provisioning, maintenance or repair, transaction offered by Verizon, CBB shall use such other processes as Verizon has made available for performing such transaction (including, but not limited, to submission of Orders by telephonic facsimile transmission and placing trouble reports by voice telephone transmission).

  • Establishment and Maintenance of Records GRANTEE shall maintain records, including but not limited to, books, financial records, supporting documents, statistical records, personnel, property, and all other pertinent records sufficient to reflect properly:

  • Record Maintenance and Retention A. Grantee shall keep and maintain under GAAP or GASB, as applicable, full, true, and complete records necessary to fully disclose to the System Agency, the Texas State Auditor’s Office, the United States Government, and their authorized representatives sufficient information to determine compliance with the terms and conditions of this Grant Agreement and all state and federal rules, regulations, and statutes.

  • General Maintenance The LLC will establish and maintain a Capital Account for each Member. A Member’s Capital Account balance (“Capital Account Balance”) will be:

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