TRANSFER OF POLICY Sample Clauses

TRANSFER OF POLICY. (a) Except as provided in subsection (b) below and as otherwise provided herein, neither the Employee nor any donee of the Employee's, without the express written consent of the Bank, shall sell, assign, transfer, borrow against, surrender or cancel the Policy, change the beneficiary designation provision thereof, or terminate the dividend election thereof. (b) The Employee shall have the right to absolutely and irrevocably give to a donee, all of his right, title and interest in and to the Policy, subject to the collateral assignment of the Policy to the Bank pursuant hereto. The Employee may exercise this right by executing a written transfer of ownership in the form used by the Insurer for irrevocable gifts of insurance policies, and delivering this form to the Bank. Upon receipt of such form, executed by the Employee and duly accepted by the donee thereof, the Bank shall consent thereto in writing, and shall thereafter treat the Employee's donee as the sole owner of all of the Employee's right, title and interest in and to the Policy, subject to the Bank pursuant hereto. Thereafter, the Employee shall have no right, title or interest in and to the Policy, all such rights being vested in and exercisable only by such donee.
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TRANSFER OF POLICY. The Executive, as owner of the Policy, agrees to execute such forms and take such steps as are reasonably requested by the Company to transfer sole ownership of the Policy into the name of the Company. The Executive by this Agreement does release and forever discharge the Company and its successors and assigns of and from any obligation or liability of any kind arising from or relating to all prior transactions, relationships and dealings relating to or under the terms of the Split-Dollar Program, including, without limitation, the Company's obligations to pay premiums under the Split-Dollar Agreement and to pay additional premiums under the Letter Agreement; provided, however, that the Executive does not release any of the Company's obligations under this Agreement or the SERP (as hereinafter defined).
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TRANSFER OF POLICY. This policy may not be assigned to another person or organization without OUR written consent. If YOU die, this policy covers YOUR legal representative while temporarily acting on YOUR behalf. It also covers any other person having proper temporary custody of YOUR insured car, until a legal representative is appointed.
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TRANSFER OF POLICY. In the event of the foreclosure of this Deed of Trust or other transfer of the title to the Property in extinguishment, in whole or in part, of the indebtedness secured hereby, all right, title and interest of Trustor in and to any insurance policy then in force shall pass to the purchaser or grantee, subject to the terms of the Participation Agreement and the other Operative Documents.
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TRANSFER OF POLICY. Where a Member or any other person is entitled to be paid or the Trustee in its discretion determines to pay a benefit and where the Trustee holds a Policy of any kind in respect of the Member, the Trustee may in its absolute discretion and in lieu of surrendering the Policy assign it to the Member or other person or to such one or more of them to the exclusion of the other or others as the Trustee in its discretion may determine. The value of the Policy as at the date of assignment will be deducted from the benefit payable to the Member or other person. Neither the Trustee nor the Principal Employer will be liable to pay any premiums becoming due and owing under the said Policy as from the date of the assignment.
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TRANSFER OF POLICY. In the event the Employee has transferred or shall ------------------ transfer all of his interest in the Policy (other than the rights assigned to the Employer pursuant to this Agreement and the Collateral Assignment), then all of the Employee's interest in the Policy and this Agreement shall be vested in the transferee, but the Employee's obligations hereunder shall continue.
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TRANSFER OF POLICY. In the event that any of the following occur: (a) The Company or Executive shall terminate Executive’s employment with the Company for any reason after March 31, 2007; or (b) Executive’s employment with the Company shall terminate on account of Total Disability; or (c) The Company shall terminate Executive’s employment without Cause on or prior to March 31, 2007; or (d) Executive shall terminate his employment with Good Reason on or prior to March 31, 2007; THEN the Company shall convey, transfer and assign the Policy to Executive within the 30-day period following Executive’s termination of employment. Notwithstanding the foregoing, if (i) Executive is a “specified employee” (as defined in Section 409A of the Internal Revenue Code of 1986, as amended (“Code”)), and (ii) the definition of Good Reason below does not qualify as an “involuntary” separation from service pursuant to guidance issued under Code Section 409A (or the Company determines that no other exceptions to Code Section 409A applies), the conveyance, transfer and assignment of the Policy to Executive shall occur on the first day of the seventh month following his termination of employment. During any such six month period, the Company shall cause the Executive’s designated beneficiary to be the sole beneficiary for purposes of the death benefit under the Policy and, in the event that the Company is paid any portion of the death benefit under the Policy upon the death of Executive during any such six month period, the Company shall promptly pay over such death benefit to Executive’s designated beneficiary. Company will be responsible for paying any insurance premiums that become due and payable during this six-month period. After the conveyance, transfer and assignment of the Policy to Executive, Executive will own the Policy and the cash value and death benefit thereunder and will be responsible for payment of any further premiums due on the Policy. In addition to the above, the Company shall also pay to Executive an amount equal to the “total presumed federal and state taxes” that could be imposed on Executive with respect to the income tax payable upon the transfer and assignment of the Policy. For purposes of the preceding sentence, the “total presumed federal and state taxes” that could be imposed on Executive shall be conclusively calculated by the Company using a combined tax rate equal to the sum of the maximum marginal federal and state income tax rates and the hospital insurance (or ...
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TRANSFER OF POLICY. 7 C. Payments............................................................ 7 2.5
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Related to TRANSFER OF POLICY

  • Statement of Policy The Employer shall issue and make available to the Union a statement of policy in respect to leaves of absence and any other assistance which it may make available to Employees who desire to seek leave for educational purposes.

  • Dissemination of Policy All members of the contractor's staff who are authorized to hire, supervise, promote, and discharge employees, or who recommend such action, or who are substantially involved in such action, will be made fully cognizant of, and will implement, the contractor's EEO policy and contractual responsibilities to provide EEO in each grade and classification of employment. To ensure that the above agreement will be met, the following actions will be taken as a minimum: a. Periodic meetings of supervisory and personnel office employees will be conducted before the start of work and then not less often than once every six months, at which time the contractor's EEO policy and its implementation will be reviewed and explained. The meetings will be conducted by the EEO Officer. b. All new supervisory or personnel office employees will be given a thorough indoctrination by the EEO Officer, covering all major aspects of the contractor's EEO obligations within thirty days following their reporting for duty with the contractor. c. All personnel who are engaged in direct recruitment for the project will be instructed by the EEO Officer in the contractor's procedures for locating and hiring minorities and women. d. Notices and posters setting forth the contractor's EEO policy will be placed in areas readily accessible to employees, applicants for employment and potential employees. e. The contractor's EEO policy and the procedures to implement such policy will be brought to the attention of employees by means of meetings, employee handbooks, or other appropriate means.

  • Application of Policy The policy is to apply to everyone on site without distinction.

  • Transfer of Possession Possession of the Property shall be transferred to Purchaser at the time of Closing subject to the Permitted Encumbrances.

  • Form of Policies The minimum limits of policies of insurance required of Tenant under this Lease shall in no event limit the liability of Tenant under this Lease. Such insurance shall (i) name Landlord, its subsidiaries and affiliates and any other party the Landlord so specifies, as an additional insured, as applicable, including Landlord’s managing agent, if any; (ii) cover the liability assumed by Tenant under this Lease; (iii) be issued by an insurance company having a rating of not less than A:VIII in Best’s Insurance Guide or which is otherwise acceptable to Landlord and licensed to do business in the State of North Carolina; (iv) be primary insurance as to all claims thereunder and provide that any insurance carried by Landlord is excess and is non-contributing with any insurance required of Tenant; (v) be in form and content reasonably acceptable to Landlord; and (vi) provide that said insurer shall endeavor to provide written notice to Landlord and any mortgagee of Landlord, to the extent such names are furnished to Tenant prior to the cancellation of such policy. Tenant shall deliver said policy or policies or certificates thereof to Landlord on or before the earlier to occur of (A) the Lease Commencement Date, and (B) the date upon which Tenant is first provided access to the Premises, and at least ten (10) days before the expiration dates thereof. In the event Tenant shall fail to procure such insurance, or to deliver such policies or certificate within ten (10) days after written notice from Landlord, Landlord may, at its option (upon notice to Tenant), procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills therefor.

  • Transfer of Agreement Without prior written consent of the WFOE, the Existing Shareholders or the Domestic Company may not assign its rights and obligations hereunder to any third party.

  • Introduction and Statement of Policy The National Institutes of Health (NIH) has established NIH-designated data repositories (e.g., database of Genotypes and Phenotypes (dbGaP), Sequence Read Archive (SRA), NIH Established Trusted Partnerships) for securely storing and sharing controlled-access human data submitted to NIH under the NIH Genomic Data Sharing (GDS)

  • Summary of Policy and Prohibitions on Procurement Lobbying Pursuant to State Finance Law §139-j and §139-k, this Contract includes and imposes certain restrictions on communications between OGS and a Vendor during the procurement process. A Vendor is restricted from making contacts from the earliest notice of intent to solicit offers/bids through final award and approval of the Procurement Contract by OGS and, if applicable, the Office of the State Comptroller (“restricted period”) to other than designated staff unless it is a contact that is included among certain statutory exceptions set forth in State Finance Law §139-j(3)(a). Designated staff, as of the date hereof, is identified in Appendix G, Contractor and OGS Information, or as otherwise indicated by OGS. OGS employees are also required to obtain certain information when contacted during the restricted period and make a determination of the responsibility of the Vendor pursuant to these two statutes. Certain findings of non-responsibility can result in rejection for contract award and in the event of two findings within a four-year period; the Vendor is debarred from obtaining governmental Procurement Contracts. Further information about these requirements can be found on the OGS website: xxxx://xxx.xxx.xx.xxx/aboutOgs/regulations/defaultSFL_139j-k.asp.

  • Ownership of Policy Unless otherwise expressly provided for by Endorsement in the Policy, the Company shall be entitled to treat the Policyholder as the absolute owner of the Policy. The Company shall not be bound to recognise any equitable or other claim to or interest in the Policy, and the receipt of the Policy or a Benefit by the Policyholder (or by his legal or authorised representative) alone shall be an effective discharge of all obligations and liabilities of the Company. The Policyholder shall be deemed to be responsible Principal or Agent of the Insured Persons covered under this Policy.

  • TRANSFER POLICY Section 7 of this Agreement will not apply to Party A, who will be required to comply with, and will be bound by, the following: Without prejudice to Section 6(b)(ii) as amended in this Schedule, Party A may transfer all (but not part only) of its interests and obligations in and under this Agreement to any of its Affiliates or, with the prior written consent of Party B, such consent not to be unreasonably withheld, to any other entity (each such Affiliate or entity a "TRANSFEREE") upon providing five Business Days' prior written notice to the Note Trustee, provided that: (i) the Transferee's short-term, unsecured and unsubordinated debt obligations are then rated not less than "A-1+" by S&P, "Prime-1" by Moody's and "F1" by Fitch and its long-term, unsecured and unsubordinated debt obligations are then rated not less than "AA-" by S&P, "A1" by Moody's and "A+" by Fitch (or its equivalent by any substitute rating agency) or such Transferee's obligations under this Agreement are guaranteed by an entity whose short-term, unsecured and unsubordinated debt obligations are then rated not less than "A-1+" by S&P, "Prime-1" by Moody's and "F1" by Fitch and whose long-term, unsecured and unsubordinated debt obligations are then rated not less than "AA-" by S&P, "A1" by Moody's and "A+" by Fitch (or its equivalent by any substitute rating agency);

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