Purchase of Insurance. No Mortgagor was required to purchase any credit life, disability, accident or health insurance product as a condition of obtaining the extension of credit. No Mortgagor obtained a prepaid single-premium credit life, disability, accident or health insurance policy in connection with the origination of the Mortgage Loan. No proceeds from any Mortgage Loan were used to purchase single premium credit insurance policies as part of the origination of, or as a condition to closing, such Mortgage Loan;
Purchase of Insurance. No Mortgagor was required to purchase any single premium credit insurance policy (e.g., life, mortgage, disability, property, accident, unemployment or health insurance product) or debt cancellation agreement as a condition of obtaining the extension of credit. No Mortgagor obtained a prepaid single premium credit insurance policy (e.g., life, mortgage, disability, property, accident, unemployment, mortgage or health insurance) in connection with the origination of the Mortgage Loan. No proceeds from any Mortgage Loan were used to purchase single premium credit insurance policies as part of the origination of, or as a condition to closing, such Mortgage Loan. This representation and warranty is a Deemed Material and Adverse Representation;
Purchase of Insurance. No Mortgagor was required to purchase any single premium credit insurance policy (e.g., life, mortgage, disability, property, accident, unemployment or health insurance product) or debt cancellation agreement as a condition of obtaining the extension of credit. No Mortgagor obtained a prepaid single-premium credit insurance policy (e.g., life, mortgage, disability, property, accident, unemployment, or health insurance) in connection with the origination of the Mortgage Loan. No proceeds from any Mortgage Loan were used to purchase single premium credit insurance policies or debt cancellation agreements as part of the origination of, or as a condition to closing, such Mortgage Loan. This representation and warranty is a Deemed Material and Adverse Representation;
Purchase of Insurance. Subject to Section 7.2 of the Basic Plan, insurance Policies can be purchased on the life of a Participant at the direction of the following: (check all that apply) ¨ The Administrator ¨ The Participant
Purchase of Insurance. Owner is responsible for obtaining the required insurance coverage. If the Hotel is eligible to participate in Manager’s insurance program Manager, at Owner’s request, will arrange for such participation. Any insurance coverage obtained with respect to the Hotel is the primary coverage and must pay 100% of any losses incurred by Owner or Manager. Owner’s obligation to maintain the required insurance is not limited in any way because of any insurance that Manager or its Affiliates carry. Owner has no right to deny coverage of Manager’s losses and Owner has no right to any additional coverage obtained by Manager.
Purchase of Insurance. If permitted under Item U(4), the purchase of life insurance is available under this Plan for the purpose of providing incidental death benefits. If life insurance is available, an Active Member may elect to have any part of his Account which does not result from accumulated deductible employee contributions, as defined in Code Section 72(o)(5)(B), applied to purchase life insurance coverage on his life. The Trustee shall apply for and will be the owner of any Insurance Policy purchased under the terms of this Plan. The purchase shall be subject to the provisions of this section, the distribution of benefits provisions of Article VI or VIA, whichever applies, and the beneficiary provisions of Section 10.07. If Item AA(1 )(a) is selected and the Member has a spouse, such spouse shall be his Beneficiary under the Insurance Policy, unless (i) a qualified election has been made according to the provisions of Section 6A.03, or (ii) the Trustee has been named as Beneficiary. If Item AA(1 )(a) is not selected and the Member has a spouse to whom he has been continuously married for at least one year, such spouse shall be his Beneficiary under the Insurance Policy, unless (i) a qualified election has been made according to the provisions of Section 6.03, or (ii) the Trustee has been named as Beneficiary. If the Trustee is named as Beneficiary, upon the death of the Member, the Trustee shall be required to pay over all proceeds of the Insurance Policy to the Member’s Beneficiary or spouse, as the case may be, according to the distribution of benefits provisions of Article VI or VIA, whichever applies. Under no circumstances shall the Trust Fund retain any part of the proceeds. In the event of any conflict between the terms of this Plan and the terms of any Insurance Policy purchased hereunder, the Plan provisions shall control. The purchase of insurance shall be subject to the limitations that may be imposed by the Insurer under the applicable Insurance Policy. The Insurance Policy may provide for waiver of premium for disability. The total of all insurance premiums for insurance coverage on the life of a Member provided by our Contributions shall be limited to a percentage of all our Contributions made for that Member. All such ordinary life insurance premiums shall be limited to a percentage which is less than 50 percent. All such term life and universal life insurance premiums shall be limited to a percentage which is not more than 25 percent. If both ordinary li...
Purchase of Insurance. All insurance under the above headings of Primary Insurance and Other Insurance shall be purchased by the Partnership, and not by one of the Partners for the Partnership, unless a Partner is agreeable to purchasing such insurance and a SuperMajority in Interest of the Partners authorizes such Partner to acquire such insurance. In such event, such Partner shall be reimbursed for the cost of such insurance pursuant to the Accounting Procedures.
Purchase of Insurance. For the duration of Indemnitee’s service as a director or officer of the Bank, and thereafter for so long as Indemnitee shall be subject to any pending or possible Indemnifiable Claim, the Bank shall use commercially reasonable efforts (taking into account the scope and amount of coverage available relative to the cost thereof) to cause to be maintained in effect policies of directors’ and officers’ liability insurance providing coverage for directors and/or officers of the Bank that is at least substantially comparable in scope and amount to that provided by the Bank’s current policies of directors’ and officers’ liability insurance. In all policies of directors’ and officers’ liability insurance obtained by the Bank, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits, subject to the same limitations, as are accorded to the Bank’s directors and officers most favorably insured by such policy. Upon written request of an Indemnitee, the Bank shall provide Indemnitee with a copy of all directors’ and officers’ liability insurance policies, as they may be amended and/or supplemented from time to time. Without limiting the generality or effect of the three immediately preceding sentences, the Bank shall not discontinue or significantly reduce the scope or amount of coverage under any such policy without the approval of a majority of the members of the Board. The Indemnitee’s expenses (including attorneys’ fees) incurred in connection with successfully establishing Indemnitee’s right to recovery under any such policy of directors’ and officers’ liability insurance shall be indemnified by the Bank.
Purchase of Insurance. The purchase of insurance Policies on the life of a Participant, other than key man insurance under Section 7.2(j), is not currently permitted in this Plan.
Purchase of Insurance. Buyer, from and after the Effective Time, will cause the persons who served as directors or officers of Safety Fund on or before the Effective Time to be covered by Safety Fund's existing directors' and officers' liability insurance policy (provided that Buyer may substitute therefor policies of at least the same coverage and amounts containing terms and conditions which are not less advantageous than such policy) but in no event shall any insured person be entitled under this Section 6.11 to insurance coverage more favorable than that provided to him or her in such capacities at the date hereof with respect to acts or omissions resulting from their service as such on or prior to the Effective Time. Such insurance coverage shall commence on the Effective Date and will be provided for a period of no less than six years after the Effective Time; provided, however, that in no event shall Buyer be required to expend in any year more than 150% of the current per annum amount expended by Safety Fund to maintain or procure insurance coverage pursuant hereto. Safety Fund agrees to renew any such existing insurance or to purchase any "discovery period" insurance provided for thereunder at Buyer's request.
