Assignment of Life Insurance Policies definition

Assignment of Life Insurance Policies means, collectively, each Assignment of Life Insurance as Collateral, dated as of the Closing Date, between Lender and any Borrower, and acknowledged by the issuer of each such Life Insurance Policy, pursuant to which such Borrower assigns to Lender all of such Borrower's right, title and interest in the Life Insurance Policies, including the cash surrender value thereof.
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Assignment of Life Insurance Policies means an assignment in form and substance satisfactory to Lender, which assigns to Lender as collateral for the Indebtedness, the life insurance policy on the life of Xxx Xxxxxxx in the face amount of $1,000,000.
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Assignment of Life Insurance Policies and collectively, the “Original Assignments of Life Insurance Policies”), pursuant to which CMI assigned to the Lender certain life insurance policies;
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Examples of Assignment of Life Insurance Policies in a sentence

  • Assignment of Life Insurance Policies on the lives of Xxxx Xxxxxxxxx and Xxxxx Xxxxxx, in the amount of $5,000,000.00 each.

  • This Note is secured by, Inter alia, a Pledge Agreement (the "Pledge Agreement") and an Assignment of Life Insurance Policies as Collateral (“Assignment”) of even date herewith from Maker to Payee, to which Pledge Agreement reference is made for a description of the property covered thereby and the nature and extent of the rights and powers of the holder of this Note in respect of such property.

  • Effective as of the date hereof, the Original Assignment of Life Insurance Policies shall be and hereby is terminated and rendered of no further force and effect.


More Definitions of Assignment of Life Insurance Policies

Assignment of Life Insurance Policies means the Assignment of Life Insurance Policy as Collateral from the Company (and any other policyholder or beneficiary) to the Holders, in form and substance satisfactory to Allied, assigning to the Holders all of the Company's (and any such other policyholder's or beneficiary's) right, title and interest in the Assigned Life Insurance Policies to secure the Indebtedness evidenced by the Debenture.
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Related to Assignment of Life Insurance Policies

  • Life Insurance Policy has the meaning given in Section 6.11.

  • R&W Insurance Policy has the meaning set forth in Section 6.15.

  • Assignment of Insurances shall have the meaning provided in the definition of “Collateral and Guaranty Requirements”.

  • Insurance Assignment each collateral assignment of insurance pursuant to which an Obligor assigns to Agent, for the benefit of Secured Parties, such Obligor’s rights under key-man life, business interruption or other insurance policies as Agent deems appropriate, as security for the Obligations.

  • policy of life insurance means any instrument by which the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life, or any instrument evidencing a contract which is subject to payment of premiums for a term dependent on human life;

  • Insurance Policies has the meaning set forth in Section 3.16.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Certificate Insurance Policy The Financial Guaranty Insurance Policy No. CA01172A, and all endorsements thereto dated the Closing Date, issued by the Certificate Insurer for the benefit of the Class AF-3 Certificateholders.

  • Bond Insurance Policy means the municipal bond insurance policy, if any, issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds and constitutes a Bond Facility under the Indenture.

  • Title Insurance Policies means, with respect to each Individual Property, an ALTA mortgagee title insurance policy in a form acceptable to Lender (or, if an Individual Property is in a State which does not permit the issuance of such ALTA policy, such form as shall be permitted in such State and acceptable to Lender) issued with respect to such Individual Property and insuring the lien of the Mortgage encumbering such Individual Property.

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • Title Insurance Policy A title insurance policy maintained with respect to a Mortgage Loan.

  • Environmental Insurance Policy means, with respect to any Mortgage Loan or the related Mortgaged Property or REO Property, any insurance policy covering pollution conditions and/or other environmental conditions that is maintained from time to time in respect of such Mortgage Loan, Mortgaged Property or REO Property, as the case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders.

  • Mortgage guaranty insurance means surety insurance under which a mortgagee or other creditor is indemnified against losses caused by the default of a debtor.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Blanket insurance policy means a group policy covering a defined class of

  • Collateral Assignment Agreement has the meaning set forth in Section 10.05.

  • Collateral Assignment means, with respect to any Contracts, the original instrument of collateral assignment of such Contracts by the Company, as Seller, to the Collateral Agent, substantially in the form included in Exhibit A hereto.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • Collateral Assignments means, collectively, the Assignment of the Development Agreement, and the Assignment of Management Agreement, the Assignment of the Right to Receive Tax Credits, Capital Contributions and Partnership Interests, each in form and substance satisfactory to the Significant Bondholder and the Financial Monitor and as each may be amended or supplemented from time to time with the prior written consent of the Significant Bondholder.

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • FHA Mortgage Insurance means, mortgage insurance authorized under the National Housing Act, as amended from time to time, and provided by the FHA.

  • Evidence of coverage means any certificate, agreement or contract issued to an enrollee setting out the coverage to which the enrollee is entitled.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Life insurance means contracts that incorporate mortality risk, including annuity and pure endowment contracts, and as may be specified in the valuation manual.