Common use of PAYMENT BY CORPORATION Clause in Contracts

PAYMENT BY CORPORATION. The Corporation shall immediately pay any insurance proceeds received by the Corporation after the Time of Closing as a consequence of the death of the Deceased Shareholder under all life insurance policies subject to this Agreement to the Vendor on account of the amount owing on the Promissory Note in Subsection 7.3(b).

PAYMENT BY CORPORATION. The Corporation shall immediately pay any insurance proceeds received by the Corporation after the Time of Closing as a consequence of the death of the Deceased Shareholder under all life insurance policies subject to this Agreement to the Vendor Surviving Spouse on account of the amount owing on the Promissory Note in Subsection 7.3(b6.6(b).

PAYMENT BY CORPORATION. 0000-00-0000 The Corporation shall immediately pay any insurance proceeds received by the Corporation after the Time of Closing as a consequence of the death of the Deceased Shareholder under all life insurance policies subject to this Agreement to the Vendor on account of the amount owing by the Corporation to the Vendor on the Promissory Note in Subsection 7.3(b6.3(b).

PAYMENT BY CORPORATION. The Corporation shall immediately pay any insurance proceeds received by the Corporation after the Time of Closing as a consequence of the death of the Deceased Shareholder under all life insurance policies subject to this Agreement to the Vendor on account of the amount owing by the Corporation to the Vendor on the Promissory Note in Subsection 7.3(b6.3(b).

PAYMENT BY CORPORATION. 0000-00-0000 The Corporation shall immediately pay any insurance proceeds received by the Corporation after the Time of Closing as a consequence of the death of the Deceased Shareholder under all life insurance policies subject to this Agreement to the Vendor on account of the amount owing on the Promissory Note in Subsection 7.3(b).

PAYMENT BY CORPORATION. 0000-00-0000 The Corporation shall immediately pay any insurance proceeds received by the Corporation after the Time of Closing as a consequence of the death of the Deceased Shareholder under all life insurance policies subject to this Agreement to the Vendor Surviving Spouse on account of the amount owing on the Promissory Note in Subsection 7.3(b6.6(b).