Change Forms definition

Change Forms means, with respect to any Policy, all documents required by the applicable Issuing Insurance Company to be executed by the Borrower (or the Securities Intermediary, as owner thereof for the benefit of the Borrower or the Administrative Agent as secured party pursuant to the Account Control Agreement) to effect change of ownership of and designation of a new owner and beneficiary under such Policy.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Change Forms forms for dealing with Contract Changes in accordance with the Changing the Contract Procedure, substantially in the form set out in Schedule 11 (Change Forms), Part 1 (Change Request), 2 (Change Impact Assessment) and 3 (Change Authorisation Note);

Change Forms means the forms provided by the Insurer with respect to a Policy to effect a change of ownership and beneficiary of such Policy.

Examples of Change Forms in a sentence

• The Borrower shall cause the Securities Intermediary to execute all such Change Forms in blank to be held by the Securities Intermediary.

• If an Issuing Insurance Company updates its Change Forms, at the request of the Administrative Agent, the Borrower shall deliver or cause to be delivered completed but unsigned updated Change Forms for the related Pledged Policies within five (5) Business Days of such request.

• The Borrower shall cause the Securities Intermediary to execute such Change Forms in blank to be held by the Securities Intermediary.

• Salary Level Change Forms (including proper documentation) that are approved will be maintained in the employee's District personnel file.

• The Borrower grants to the Administrative Agent, as its irrevocable attorney-in-fact and otherwise, the right, in the Administrative Agent’s sole and absolute discretion, following the occurrence of an Event of Default, to complete or direct the Securities Intermediary to complete and send any and all Change Forms previously delivered to it by or on behalf of the Borrower or otherwise obtained by the Administrative Agent, to the applicable Issuing Insurance Companies.

• On or prior to each Advance Date, the Borrower shall have delivered or caused to be delivered, or shall deliver or cause to be delivered, completed but unsigned Change Forms for the Subject Policies to the Securities Intermediary.

• The Securities Intermediary shall confirm to the Administrative Agent in writing that it is holding completed Change Forms with respect to the Subject Policies executed by the Securities Intermediary in blank and the Administrative Agent shall have received copies of such Change Forms.

• The Board shall provide the Surrey Teachers’ Association with a copy of Staff Change Forms issued for Surrey Teachers’ Association members.

• The Borrower grants to the Administrative Agent, as its irrevocable attorney-in-fact and otherwise, the right, in the Administrative Agent’s sole discretion following acceleration or maturity of the Obligations of the Borrower under this Loan Agreement, to complete or direct the Securities Intermediary to complete and send any and all Change Forms previously delivered to it by or on behalf of the Borrower or otherwise obtained by the Administrative Agent, to the applicable Issuing Insurance Companies.

• The Securities Intermediary shall have confirmed to the Administrative Agent in writing that it is holding completed Change Forms with respect to the Subject Policies executed by the Securities Intermediary in blank and the Administrative Agent shall have received copies of such Change Forms.

More Definitions of Change Forms

Change Forms means, with respect to an Identified Policy, collectively, any and all forms that are required to be completed to change the ownership of, and each beneficiary under, such Identified Policy on the books and records of the applicable Insurer to the Purchaser or to the Purchaser’s designee.

Change Forms. In respect of any Life Policy, all documents required by the applicable Insurer to be executed by the immediately prior owner of the Life Policy or any other Person to effect change of ownership of and designation of a new owner and beneficiary under such Policy to the Securities Intermediary.