Common use of Transfer of Insurance Policies Clause in Contracts

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.

Transfer of Insurance Policies. As soon as administratively practicable after the Distribution Date, TXI there shall transfer be transferred 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 were assumed by TXIChaparral.