Common use of Ownership of Policies Clause in Contracts

Ownership of Policies. a. The Corporation shall be the sole and absolute owner of each Policy, and may exercise all ownership rights granted to the owner thereof by the terms of the Policy, except as may otherwise be provided herein; provided, however, that the Corporation shall be prohibited from borrowing against or taking any withdrawal under any of the Policies, or taking any policy loan or other advance under the Policies during the entire term of this Agreement.

Ownership of Policies. a. The Corporation shall be the sole and absolute owner of each Policy, and may exercise all ownership rights granted to the owner thereof by the terms of the Policy, except as may otherwise be provided herein; provided, however, that in no event shall the Corporation shall be prohibited from borrowing have any right to borrow against or taking any withdrawal under any of make withdrawals from the Policies, or taking any policy loan or other advance under the Policies during the entire term of this AgreementPolicy.

Ownership of Policies. a. The Corporation shall be the sole and absolute owner of each Policythe Policies, and may exercise all ownership rights granted to the owner thereof by the terms of the PolicyPolicies, except as may otherwise be provided herein; provided, however, that in no event shall the Corporation shall be prohibited from borrowing have any right to borrow against or taking any withdrawal under any of the Policies, or taking any policy loan or other advance under the Policies during the entire term of this Agreementmake withdrawals from either Policy.