Transfer of Insurance Policies Sample Clauses

Transfer of Insurance Policies. As soon as administratively practicable after the Distribution Date, TXI shall transfer to Chaparral the life insurance policies on the lives of Chaparral Business Employees who have benefits under the Chaparral FSP. In addition, Chaparral shall transfer to TXI any life insurance policies in which Chaparral is the beneficiary on the lives of TXI Business Employees whose TXI FSP obligations are retained by TXI.
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Transfer of Insurance Policies. If Xxxxxxx'x employment by the Company is terminated for any reason except Xxxxxxx'x death or Disability, the Company will cooperate with Xxxxxxx, to the extent Xxxxxxx so desires, to transfer to Xxxxxxx, at no cost to the Company and in exchange for a payment by Xxxxxxx to the Company equal to the value of the Company's interest in the policies, the life and disability insurance maintained by the Company on his behalf immediately before the termination of his employment, to the extent permitted by the applicable insurance policies. If Xxxxxxx'x employment by the Company is terminated as a result of Xxxxxxx'x Disability, the Company will cooperate with Xxxxxxx, to the extent Xxxxxxx so desires, to transfer to Xxxxxxx, at no cost to the Company and in exchange for a payment by Xxxxxxx to the Company equal to the value of the Company's interest in the policies, the life insurance maintained by the Company on his behalf as of the date five years after the termination of his employment, to the extent permitted by the applicable insurance policies.
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Transfer of Insurance Policies. If Xxxxx'x employment by the Company is terminated for any reason except Xxxxx'x death, the Company will cooperate with Xxxxx, to the extent Xxxxx so desires, to transfer to Xxxxx, at no cost to the Company and in exchange for a payment by Xxxxx to the Company equal to the value of the Company's interest in the policies, any life and disability insurance maintained by the Company on his behalf immediately before the termination of his employment, to the extent permitted by the applicable insurance policies.
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Transfer of Insurance Policies. The Company shall use its commercially reasonable efforts, in accordance with instructions from the Purchasers, to either cause the insurance policies listed on Exhibit 5.14, or comparable policies, to be issued or reissued in the name of Purchaser effective at the Closing; provided, however, that this provision shall not be a condition to the Purchasers' obligation to consummate the transactions contemplated by this Agreement nor shall any failure to cause such transfer constitute a breach of this Agreement by Sellers or Shareholders.
Sample 1
Transfer of Insurance Policies. As soon as practicable following the Retirement Date, the Company will relinquish all rights under and transfer to Executive ownership of the Split Dollar Policies. As soon as practicable following the second anniversary of the Retirement Date, the Company will relinquish all rights under and transfer to Executive ownership of the Individual LTD Policy and the Individual Term Life Policy.
Sample 1
Transfer of Insurance Policies. If an Enforcement Sale or other title transfer of all or any portion of the Mortgaged Properties occurs, all right, title, and interest of Mortgagor in any Insurance Policies then in force will pass to the transferee to the extent the property transferred is covered by such Insurance Policy.
Sample 1
Transfer of Insurance Policies. If Officer's employment by the Company is terminated for any reason except Officer's death or Disability, the Company will cooperate with Officer, to the extent Officer so desires, to transfer to Officer, at no cost to the Company and in exchange for a payment by Officer to the Company equal to the value of the Company's interest in the policies, the life and disability insurance maintained by the Company on her behalf immediately before the termination of her employment, to the extent permitted by the applicable insurance policies. If Officer's employment by the Company is terminated as a result of Officer's Disability, the Company will cooperate with Officer, to the extent Officer so desires, to transfer to Officer, at no cost to the Company and in exchange for a payment by Officer to the Company equal to the value of the Company's interest in the policies, the life insurance maintained by the Company on her behalf as of the date five years after the termination of her employment, to the extent permitted by the applicable insurance policies.
Sample 1
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Transfer of Insurance Policies. If Mills's employment by the Company is terminated for any reason exxxxx Xxlls's death, the Company will cooperate with Mills, to the extexx Xxxxs so desires, to transfer to Mills, at nx xxxt to the Company xxx in exchange for a payment by Xxxxs to the Company equal to the value of the Company's interest xx xhe policies, any life and disability insurance maintained by the Company on his behalf immediately before the termination of his employment, to the extent permitted by the applicable insurance policies.
Sample 1
Transfer of Insurance Policies. Prior to the Closing, the Company’s Board of Directors shall transfer to the Executive ownership of the two life insurance policies identified on Schedule 5.17 to the Company’s Disclosure Letter as further consideration to the Executive for his obligations to the Company under the Consulting Agreement. The Executive shall be responsible, and the Company shall not reimburse or otherwise indemnify the Executive, for any taxes or fees payable as a result of the transfer of such policies.
Sample 1

Related to Transfer of Insurance Policies

  • Assignment of Insurance As additional security for the payment and performance of the Obligations, the Borrower hereby assigns to the Lender any and all monies (including, without limitation, proceeds of insurance and refunds of unearned premiums) due or to become due under, and all other rights of the Borrower with respect to, any and all policies of insurance now or at any time hereafter covering the Collateral or any evidence thereof or any business records or valuable papers pertaining thereto, and the Borrower hereby directs the issuer of any such policy to pay all such monies directly to the Lender. At any time, whether or not a Default Period then exists, the Lender may (but need not), in the Lender's name or in the Borrower's name, execute and deliver proof of claim, receive all such monies, endorse checks and other instruments representing payment of such monies, and adjust, litigate, compromise or release any claim against the issuer of any such policy.

  • Certificate of Insurance/Endorsements A certificate of insurance from an insurer with a Best's rating of no less than A- indicating compliance with the required coverages has been received by State Procurement Bureau, X.X. Xxx 000000, Xxxxxx, XX 00000-0000. The certificates must name the State of Montana as certificate holder and Contractor shall provide copies of additional insured endorsements required by Contractor’s commercial general liability and automobile liability policies. Contractor must notify State immediately of any material change in insurance coverage, such as changes in limits, coverages, change in status of policy, etc. State reserves the right to require complete copies of insurance policies at all times.

  • Maintenance of Insurance Policies The Servicer shall, in accordance with its customary practices, policies and procedures, require that each Obligor shall have obtained physical damage insurance covering the Financed Vehicle as of the execution of the related Receivable. The Servicer shall, in accordance with its customary practices, policies and procedures, track such physical damage insurance with respect to each Receivable.

  • Policies of Insurance At City’s request, the Artist shall provide City with the actual policies providing the coverage required above.

  • Insurance Policies Insurance required herein shall be by companies duly licensed or admitted to transact business in the state where the Premises are located, and maintaining during the policy term a "General Policyholders Rating" of at least B+, V, as set forth in the most current issue of "Best's Insurance Guide", or such other rating as may be required by a Lender. Lessee shall not do or permit to be done anything which invalidates the required insurance policies. Lessee shall, prior to the Start Date, deliver to Lessor certified copies of policies of such insurance or certificates evidencing the existence and amounts of the required insurance. No such policy shall be cancelable or subject to modification except after thirty (30) days prior written notice to Lessor. Lessee shall, at least thirty (30) days prior to the expiration of such policies, furnish Lessor with evidence of renewals or "insurance binders" evidencing renewal thereof, or Lessor may order such insurance and charge the cost thereof to Lessee, which amount shall be payable by Lessee to Lessor upon demand. Such policies shall be for a term of at least one year, or the length of the remaining term of this Lease, whichever is less. If either Party shall fail to procure and maintain the insurance required to be carried by it, the other Party may, but shall not be required to, procure and maintain the same.

  • Other Insurance Policies No action, inaction or event has occurred and no state of facts exists or has existed that has resulted or will result in the exclusion from, denial of, or defense to coverage under any applicable special hazard insurance policy, PMI Policy or bankruptcy bond, irrespective of the cause of such failure of coverage. In connection with the placement of any such insurance, no commission, fee, or other compensation has been or will be received by Seller or by any officer, director, or employee of Seller or any designee of Seller or any corporation in which Seller or any officer, director, or employee had a financial interest at the time of placement of such insurance.

  • R&W Insurance Policy (a) Buyers have negotiated the R&W Insurance Policy. Immediately following the execution and delivery of this Agreement, Buyers shall bind coverage in respect of the R&W Insurance Policy to incept as of the execution and delivery of this Agreement and shall timely pay that portion of any premium and underwriting fee, in each case then due and payable, to the R&W Insurer to bind and incept coverage under the R&W Insurance Policy. Buyers shall take commercially reasonable action to pay the R&W Insurer the remainder of premium and all other costs required for issuance of the R&W Insurance Policy when due. Buyers shall take commercially reasonable action to execute and cause to be executed and delivered all documents attached to the R&W Insurance Policy or as otherwise may be required by the R&W Insurer in connection with: (a) binding coverage under the terms of the R&W Insurance Policy on the date of this Agreement and (b) issuing the final R&W Insurance Policy. The R&W Insurance Policy shall include a provision whereby insurer expressly irrevocably waives, and agrees not to pursue, directly or indirectly, any subrogation rights against the Sellers or any of their Affiliates or representatives with respect to any claim made by any insured thereunder unless such claims were the result of fraud prior to the Closing by any Seller or any of its Affiliates or representatives. The Sellers shall use commercially reasonable efforts to assist and cooperate with the Buyers in connection with any claim by any Buyer under, or recovery by any Buyer with respect to, the R&W Insurance Policy. Buyers shall not take affirmative action to amend the subrogation or third party beneficiary provisions contained in such R&W Insurance Policy benefiting any Seller without the consent of such Seller. (b) Notwithstanding any other provision of this Agreement, the Sellers, jointly and severally, shall reimburse and indemnify Buyers and their respective Affiliates, directors, officers, managers, members, employees and agents for any and all loss, liability, demand, claim of any kind, action, cause of action, cost, damage, fee, deficiency, tax, penalty, fine, assessment, interest or expense (including attorney’s fees, consultant fees, expert fees and any other reasonable fees including the reasonable fees, costs, charges and expenses of attorneys, accountants, brokers, consultants and/or other experts and/or other professionals in each case at their then-prevailing rates) arising out of or resulting from a breach of the representations and warranties in Article III of this Agreement up to an aggregate amount not to exceed $3,300,000.00 (being an amount representing one-half of the initial retention amount under the R&W Insurance Policy). Sellers’ obligation in this Section 10.23(b) shall remain in full force and effect until the latest of 45 days after the expiration of the R&W Insurance Policy, 60 days after all pending claims under the R&W Insurance Policy are fully and finally resolved, or the satisfaction in full of all outstanding obligations of the Sellers under this Section 10.23(b).

  • Certificate of Insurance Contractor must provide a Certificate of Insurance form to the City of Sparks to evidence the insurance policies and coverage required of Contractor.

  • Maintenance of Insurance; Policy Provisions The Contractor, at no additional direct cost to NYSERDA, shall maintain or cause to be maintained throughout the term of this Agreement, insurance of the types and in the amounts specified in the Section hereof entitled Types of Insurance. All such insurance shall be evidenced by insurance policies, each of which shall: (a) except policies in evidence of insurance required under Section 11.02(b), name or be endorsed to cover NYSERDA, the State of New York and the Contractor as additional insureds; (b) provide that such policy may not be cancelled or modified until at least 30 days after receipt by NYSERDA of written notice thereof; and (c) be reasonably satisfactory to NYSERDA in all other respects.

  • Effect of Insurance Acceptance of the insurance required by this Agreement shall not relieve CONTRACTOR from liability under this provision. This provision shall apply to all claims for damages related to CONTRACTOR’s performance hereunder, regardless of whether any insurance is applicable or not. The insurance policy limits set forth herein shall not act as a limitation upon the amount of indemnification or defense to be provided hereunder.

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