Common use of Purchase of Life Insurance Clause in Contracts

Purchase of Life Insurance. Notwithstanding anything to the contrary contained herein, in the event that the services of Executive with the Company terminate for any reason other than death, Executive shall have the right to acquire any life insurance policies maintained by the Company on the life of Executive by (i) notifying the Company in writing of his desire to so purchase such life insurance policy or policies and (ii) tendering to the Company a cashier's check in an amount equal to the interpolated surrender cash value of such life insurance policy or policies together with any unearned portion of any current year premium thereof, both within sixty (60) days of the effective date of such termination.

Purchase of Life Insurance. Notwithstanding anything to the contrary contained herein, in the event that the services of the Executive with the Company terminate for any reason other than death, the Executive shall have the right to acquire any life insurance policies maintained by the Company on the life of the Executive by (i) notifying the Company in writing of his desire to so purchase such life insurance policy or policies and (ii) tendering to the Company a cashier's check in an amount equal to the interpolated surrender cash value of such life insurance policy or policies together with any unearned portion of any current year premium thereof, both within sixty (60) days of the effective date of such termination.

Purchase of Life Insurance. Notwithstanding anything to the contrary contained herein, in the event that the services of Executive with the Company Employer terminate for any reason other than death, Executive shall have the right to acquire any life insurance policies maintained by the Company Employer on the life of Executive by (i) notifying the Company Employer in writing of his desire to so purchase such life insurance policy or policies and (ii) tendering to the Company Employer a cashier's check in an amount equal to the interpolated surrender cash value of such life insurance policy or policies together with any unearned portion of any current year premium thereof, both within sixty (60) 60 days of the effective date of such termination.

Purchase of Life Insurance. Notwithstanding anything to the contrary contained herein, in the event that the services of Executive with the Company terminate for any reason other than death, Executive shall have the right to acquire any life insurance policies maintained by the Company on the life of Executive by (i) notifying the Company in writing of his desire to so purchase such life insurance policy or policies and (ii) tendering to the Company a cashier's check in an amount equal to the interpolated cash surrender cash value of such life insurance policy or policies together with any unearned portion of any current year premium thereof, both within sixty (60) days of the effective date of such termination.

Purchase of Life Insurance. Notwithstanding anything to the contrary contained herein, in the event that the services of the Executive with the Company Employer terminate for any reason other than death, the Executive shall have the right to acquire any life insurance policies maintained by the Company Employer on the life of the Executive by (i) notifying the Company Employer in writing of his desire to so purchase such life insurance policy or policies and (ii) tendering to the Company Employer a cashier's check in an amount equal to the interpolated surrender cash value of such life insurance policy or policies together with any unearned portion of any current year premium thereof, both within sixty (60) days of the effective date of such termination.