Common use of Power to Borrow Clause in Contracts

Power to Borrow. to the extent permitted by Applicable Legislation, the Trustees may borrow on behalf of the Trust or a Separate Account in order to fund the payment of Benefits or in connection with an investment permitted under an applicable investment policy and the Trustees may mortgage, pledge or charge the income and/or capital of the Fund or a Separate Account to secure the payment of any money so borrowed. The Trustees may execute and deliver under seal or otherwise such instruments evidencing the indebtedness and the security so given which they consider necessary or desirable;

Power to Borrow. to To the extent permitted by Applicable Legislation, the Trustees may borrow on behalf of the Trust or a Separate Account in order to fund the payment of Benefits or in connection with an investment permitted under an applicable investment policy and the Trustees may mortgage, pledge or charge the income and/or capital of the Fund or a Separate Account to secure the payment of any money so borrowed. The Trustees may execute and deliver under seal or otherwise such instruments evidencing the indebtedness and the security so given which they consider necessary or desirable;