POLICY TITLE AND OWNERSHIP. Title and ownership shall reside in the Institution for its use and for the use of the Insured all in accordance with this Agreement. The Institution alone may, to the extent of its interest, exercise the right to borrow or withdraw on the policy cash values. Where the Institution and the Insured (or assignee, with the consent of the Insured) mutually agree to exercise the right to increase the coverage under the subject Split Dollar policy, then, in such event, the rights, duties and benefits of the parties to such increased coverage shall continue to be subject to the terms of this Agreement.
Appears in 7 contracts
Samples: Director Supplemental Income Plan Agreement (Osage Federal Financial Inc), Director Supplemental Income Plan Agreement (Osage Federal Financial Inc), Executive Salary Continuation Plan Agreement (Osage Federal Financial Inc)
