Policy Interests Sample Clauses

Policy Interests. 3.1 The Participant shall be the owner of the Policy and shall assign to the Company an interest as determined in Paragraph 3.3 (the “Company’s Policy Interest”). 3.2 For the purposes of this Agreement, the term “Cash Value” shall mean the cash surrender value of the Policy as defined in the Insurer’s policy form (the “Insurer’s Policy/Contract”) as identified in Exhibit “B” attached hereto and made a part hereof.
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Policy Interests. The Settlement Agent acknowledges that (i) the New York Fed is part of the Federal Reserve System (the “System”) and that the Board of Governors and the Treasury have policy interests in the MLF Program, (ii) perceptions of the deliberations and policies of the Purchaser, the New York Fed, the Board of Governors, and the Treasury may have an extraordinary influence on securities, financial, and capital markets, and (iii) disclosure of nonpublic information regarding the deliberations and policies of the Purchaser, the New York Fed, the Board of Governors, or the Treasury would damage the Purchaser, the New York Fed, and the System, may impede their achievement of their policy objectives, and may result in instability in such markets.
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Policy Interests. (a) Company's Policy Interest. The Policy interests described in this ------------------------- Subsection 5(a) shall be referred to as the "Company's Policy Interest." (1) In the event of the surrender or cancellation of the Policy during the term of this Agreement, the Company's Policy Interest is limited to its right to recover a portion of the cash value equal to the lesser of (i) the cumulative amount of premiums on the Policy paid by the Company reduced by premiums reimbursed to it by the Participant or (ii) the entire Policy cash value. (2) Upon termination of the Plan prior to the third Policy anniversary, the Company shall have the sole right at its election pursuant to the terms of the Policy to change the Policy to a term policy and receive a refund of premiums paid less the cost of the change. (3) Upon the Employee's death during the term of this Agreement, the Company's Policy Interest is the greater of (i) the entire death benefit payable under the Policy reduced by the death benefit payable to the Participant's beneficiary as provided in Subsection 5(b)(2) or (ii) an amount equal to the cumulative amount of premiums on the Policy paid by the Company reduced by premiums reimbursed to it by the Participant.
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Policy Interests. BNYMCM acknowledges that (i) the New York Fed is part of the Federal Reserve System (the “System”) and that the Board of Governors and the Treasury have policy interests in the MLF Program, (ii) perceptions of the deliberations and policies of the Purchaser, the New York Fed, the Board of Governors, and the Treasury may have an extraordinary influence on securities, financial, and capital markets, and (iii) disclosure of nonpublic information regarding the deliberations and policies of the Purchaser, the New York Fed, the Board of Governors, or the Treasury would damage the Purchaser, the New York Fed, and the System, may impede their achievement of their policy objectives, and may result in instability in such markets.
Sample 1
Policy Interests a) Subject to Paragraph 4(b) below, during the term of this Agreement and prior to or upon the death of the Employee, the Company, by reason of payment of premiums pursuant to Paragraph 3 above, shall have an interest in the Policy equal to the sum of Company premiums paid reduced by any Policy indebtedness which is incurred by the Company and unpaid interest on such Policy indebtedness ("Company's Policy Interest"). The Employee, by reason of payment of premiums pursuant to Paragraph 3 above, shall have all the remaining interest in the Policy in excess of the Company's Policy Interest ("Employee's Policy Interest"). b) In the event of the death of the Employee during the term of this Agreement, the proceeds of the Policy shall be payable as follows: i) The Company shall be entitled to receive an amount of the Policy death proceeds equal to the proceeds of the Policy reduced by the death benefit payable to the Employee’s beneficiary pursuant to Paragraph 4(b)(ii) below, less any Policy indebtedness which is incurred by the Company and unpaid interest on such Policy indebtedness. ii) The Employee's beneficiary shall be entitled to receive an amount of the Policy death proceeds as follows plus death proceeds, if any, from an accidental death benefit rider:
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Policy Interests 
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Related to Policy Interests

  • Partnership Interests Except as may otherwise be provided herein, each Partner’s percentage interest in the assets, profits, and distributions of the Partnership (“Partnership Interest”) shall be as set forth in Exhibit B attached hereto and incorporated herein by reference.

  • Ownership Interests The ownership interest of each member of the Company will be expressed in terms of a percentage that is set out in Exhibit A, attached and made part of this Agreement. The total ownership interests of all members will always equal one-hundred percent (100%). The existing members will determine the ownership interest of any new members prior to admission to the Company.

  • Real Property Interests (a) The Owner has provided, or upon execution of this Agreement shall promptly provide to the Developer, documentation acceptable to the Department indicating any right, title or interest in real property claimed by the Owner with respect to the Owner Utilities in their existing location(s). Such claims are subject to the Department’s approval as part of its review of the Utility Assembly as described in Paragraph 2. Claims approved by the Department as to rights or interests are referred to herein as “Existing Interests”. (b) If acquisition of any new easement or other interest in real property (“New Interest”) is necessary for the Adjustment of any Owner Utilities, then the Owner shall be responsible for undertaking such acquisition. The Owner shall implement each acquisition hereunder expeditiously so that related Adjustment construction can proceed in accordance with the Developer’s Project schedules. The Developer shall be responsible for the actual and reasonable acquisition costs of any such New Interest (including without limitation the Owner’s reasonable overhead charges and legal costs as well as compensation paid to the landowner), excluding any costs attributable to Betterment as described in Paragraph 16(c), and subject to the provisions of Paragraph 16(e); provided, however, that all acquisition costs shall be subject to the Developer’s prior written approval. Eligible acquisition costs shall be segregated from other costs on the Owner's estimates and invoices. Any such New Interest shall have a written valuation and shall be acquired in accordance with applicable law. (c) A New Interest shall be substantially equivalent (e.g., in width and type) to the Existing Interest being replaced, unless a New Interest exceeding such standard (i) is required in order to accommodate the Project or by compliance with applicable law, or (ii) is called for by the Developer in the interest of overall Project economy. Any New Interest that does not meet the requirements of the preceding sentence shall be considered a Betterment to the extent that it upgrades the Existing Interest which it replaces, or in its entirety if the related Owner Utility was not installed pursuant to an Existing Interest. Betterment costs shall be solely the Owner’s responsibility. (d) For each Existing Interest located within the final Project right of way, upon completion of the related Adjustment work and its acceptance by the Owner, the Owner agrees to execute a quitclaim deed or other appropriate documentation relinquishing such Existing Interest to the Department, unless the affected Owner Utility is remaining in its original location or is being reinstalled in a new location within the area subject to such Existing Interest. All quitclaim deeds or other relinquishment documents shall be subject to the Department's approval as part of its review of the Utility Assembly as described in Paragraph 2. For each such Existing Interest relinquished by the Owner, the Developer shall do one of the following to compensate the Owner for such Existing Interest, as appropriate: (i) If the Owner acquires a New Interest for the affected Owner Utility, the Developer shall reimburse the Owner for its actual and reasonable acquisition costs in accordance with Paragraph 16(b); or (ii) If the Owner does not acquire a New Interest for the affected Owner Utility, the Developer shall compensate the Owner for the fair market value of such relinquished Existing Interest, as mutually agreed between the Owner and the Developer and supported by a written valuation. The compensation provided to the Owner pursuant to either subparagraph (i) or subparagraph (ii) above shall constitute complete compensation to the Owner for the relinquished Existing Interest, and no further compensation shall be due to the Owner from either the Developer or the Department on account of such Existing Interest. (e) The Owner shall execute a Utility Joint Use Acknowledgment (TxDOT-U-80A) for each Adjusted Owner Utility where required pursuant to TxDOT policies. All Utility Joint Use Acknowledgments shall be subject to TxDOT approval as part of its review of the Utility Assembly as described in Paragraph 2.

  • Best Interests It is in the best interests of each Grantor (other than the Borrower) to execute this Security Agreement inasmuch as such Grantor will, as a result of being an Affiliate of the Borrower, derive substantial direct and indirect benefits from the Loans made to the Borrower by the Lender pursuant to the Credit Agreement, and each Grantor agrees that the Lender is relying on this representation in agreeing to make such Loans pursuant to the Credit Agreement to the Borrower.

  • Pledged Equity Interests Set forth on Schedule 5.21(f), as of the Closing Date and as of the last date such Schedule was required to be updated in accordance with Section 6.02, is a list of (i) all Pledged Equity and (ii) all other Equity Interests required to be pledged to the Administrative Agent pursuant to the Collateral Documents (in each case, detailing the Grantor (as defined in the Security Agreement), the Person whose Equity Interests are pledged, the number of shares of each class of Equity Interests, the certificate number and percentage ownership of outstanding shares of each class of Equity Interests and the class or nature of such Equity Interests (i.e. voting, non-voting, preferred, etc.).

  • Leasehold Interests Each lease or agreement to which the Company is a party under which it is a lessee of any property, real or personal, is a valid and subsisting agreement without any default of the Company thereunder and, to the best of the Company's knowledge, without any default thereunder of any other party thereto. No event has occurred and is continuing which, with due notice or lapse of time or both, would constitute a default or event of default by the Company under any such lease or agreement or, to the best of the Company's knowledge, by any other party thereto. The Company's possession of such property has not been disturbed and, to the best of the Company's knowledge, no claim has been asserted against the Company adverse to its rights in such leasehold interests.

  • Varying Interests All items of income, gain, loss, deduction or credit shall be allocated, and all distributions shall be made, to the Persons shown on the records of the Company to have been Members as of the last calendar day of the period for which the allocation or distribution is to be made. Notwithstanding the foregoing, if during any taxable year there is a change in any Member's Sharing Ratio, the Members agree that their allocable shares of such items for the taxable year shall be determined on any method determined by the Management Committee to be permissible under Code Section 706 and the related Treasury Regulations to take account of the Members' varying Sharing Ratios.

  • Participating Interests Effective in the case of each Standby L/C and Commercial L/C (if applicable) as of the date of the opening thereof, the Issuing Lender agrees to allot and does allot, to itself and each other Revolving Credit Lender, and each such Lender severally and irrevocably agrees to take and does take in such Letter of Credit and the related L/C Application (if applicable), an L/C Participating Interest in a percentage equal to such Lender’s Revolving Credit Commitment Percentage.

  • No Ownership Interest Nothing contained in this Agreement shall be deemed to vest in Parent any direct or indirect ownership or incidence of ownership of or with respect to the Covered Shares. All rights, ownership and economic benefits of and relating to the Covered Shares shall remain vested in and belong to the Stockholder, and Parent shall have no authority to direct the Stockholder in the voting or disposition of any of the Covered Shares, except as otherwise provided herein.

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