Policy Loans. (a) The Company has the right to obtain loans secured by the Policy from the Insurer or from others. The Company also has the right to assign the Policy as security for the repayment of such loans. The amount of such loans together with interest thereon shall at no time exceed the Company Cumulative Outlays. All interest charges with respect to any loans shall be paid by the Company.
Appears in 8 contracts
Samples: Executive Split Dollar Life Insurance Agreement (First Century Bankshares Inc), Executive Split Dollar Life Insurance Agreement (First Century Bankshares Inc), Executive Split Dollar Life Insurance Agreement (Pocahontas Bankshares Corp)
