Assignment of Life Insurance Policy definition

Assignment of Life Insurance Policy means an assignment of the key person life insurance policy on Xxxxx X. Xxxxxxx assigned by the Borrower to the Collateral Agent for the benefit of the Secured Parties in accordance with Section 5.01(d) and in substantially the form of Exhibit I hereto.

Assignment of Life Insurance Policy means the Assignment of Life Insurance Policy on the life of Waynx X. Xxxxxxx, xx form and substance satisfactory to Agent and the Banks, executed and delivered on the Closing Date by U.S. Borrower, as the same may be from time to time amended, restated or otherwise modified.

Assignment of Life Insurance Policy means that certain Assignment of Life Insurance Policy, made by the Borrower in favor of Agent, for the benefit of the Lenders, assigning the Life Insurance Policy.

Examples of Assignment of Life Insurance Policy in a sentence

• Except as to the limited policy security rights specifically granted Employer in the Assignment of Life Insurance Policy as Collateral in the form attached hereto as Exhibit B (the "Assignment") and as provided in Article VI, Owner retains all incidents of ownership in the Policy (including the right to surrender or cancel the Policy and the right to borrow against the Policy).

• U.S. Borrower shall have executed and delivered to Agent for the benefit of the Banks the Assignment of Life Insurance Policy in an amount of not less than Eight Million Dollars ($8,000,000).

• This Note is secured by an Assignment of Life Insurance Policy No. VIYW004826 issued by the CNA/Valley Forge Life Insurance Company upon the life of Arthur F.

• Assignment of Life Insurance Policy as Collateral dated , executed by .

• Pursuant to that certain Assignment of Life Insurance Policy as Collateral Agreement dated December 30, 2004, LYH assigned life insurance policy number 75 173 549 (the “Policy”) to Xxxxxxxx.

More Definitions of Assignment of Life Insurance Policy

Assignment of Life Insurance Policy. An Assignment of Life Insurance Policy on the life of ____________________________ in the amount of $____________________. 1.20. Partnership Agreement: A copy of the Borrower's Partnership Agreement. 1.21.

Assignment of Life Insurance Policy means the Assignment of Life Insurance Policy on even date herewith executed by the Borrower in favor of the Bank pursuant to which a $2,000,000.00 life insurance policy on the life of Xxxxxx X. Xxxx is collaterally assigned to the Bank in order to secure the Note given by the Bank to the Borrower.

Assignment of Life Insurance Policy and “Assignments of Life Insurance Policies” are defined in Section 5.4(d).

Assignment of Life Insurance Policy and "ASSIGNMENTS OF LIFE INSURANCE POLICIES" are defined in Section 3.4(e).

Assignment of Life Insurance Policy. The Assignment of Life Insurance Policy delivered pursuant to Section 6.15(d). Borrower GEXA Corp., a Texas corporation. Business - the business of Borrower as described in Section 2.5. Business Day - each Monday, Tuesday, Wednesday, Thursday, or Friday that is not a day on which banking institutions in the State of Texas are authorized or obligated by law to close.

Assignment of Life Insurance Policy. There shall have been delivered to the Bank an Assignment of Life Insurance Policy as Collateral ("Assignment of Life Insurance") on the Bank's standard form on the life of Bert E. Brodsky in the amouxx xx $0,000,000.00 acknowledged by the home office of the insurer together with a life insurance questionnaire on the Bank's standard form and the original life insurance policy.

Assignment of Life Insurance Policy means the Assignment Of Life Insurance Policy As Collateral executed and delivered to Bank by Borrower, all other owners and all beneficiaries of such policy or policies, assigning to Bank not less than Three Million Two Hundred Twenty-Five Thousand Dollars ($3,250,000.00) of life insurance on certain officers of Borrowers as additional collateral for the Loans, as required pursuant to Section 8.10 of this Agreement.