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

Assignment of Life Insurance Policy means an Assignment of Life Insurance Policy, in form and substance satisfactory to Agent, executed and delivered in connection with this Agreement, as the same may be from time to time amended, restated or otherwise modified.

Examples of Assignment of Life Insurance Policy in a sentence

• Without limiting the generality of the foregoing, this Agreement and the Collateral Assignment supersede the Split Dollar Agreement dated as of February 24, 1999 and the related Assignment of Life Insurance Policy as Collateral dated as of February 24, 1999 between the Employer and the Employee, which shall no longer have any force or effect.

• 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).

• Id. Forcht Bank asserts that it is entitled to coverage under the bond by virtue of the May 26, 2009 letter on Lincoln Financial Group letterhead and three documents that Forcht Bank collectively characterizes as “Assignment Documents.” These are: 1) a Consent and Request for Assignment of Life Insurance Policy, Rec.

• The transaction documents used for both policies include Assignment of Life Insurance Policy As Collateral Agreements (the “Collateral Agreements”), Policy Control Agreements and Note and Security Agreements.

• The Borrowers shall have executed and delivered to the Bank a Security Agreement (Collateral Assignment of Life Insurance Policy as Collateral), in form and substance satisfactory to the Bank (the “Collateral Assignment”).

More Definitions of Assignment of Life Insurance Policy

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, dated as of the date hereof, by the Company in favor of Purchaser, as amended from time to time pursuant to the terms hereof and thereof.

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

Assignment of Life Insurance Policy. A collateral assignment of the first Five Hundred Thousand and 00/100 Dollars ($500,000.00) of proceeds of a life insurance policy in an amount of not less than Two Million and 00/100 Dollars ($2,000,000.00) on the life of Stanley H. Streicher in favor of Lender.

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. G" Guarantor Security Agreement "H" Covenant Compliance Certificate INDEX TO SCHEDULES Schedule Description of Exhibit -------- ------------------------------------------------------ 1 Locations of Collateral 2 Existing Litigation 3 Existing Debt 4 List of Subsidiaries 5 Existing Liens 6 UCC Filing Jurisdictions 7 Liens to be Released or Assigned

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.