Collateral Assignment of Life Insurance definition

Collateral Assignment of Life Insurance means one or more collateral assignments to the Lender of the life insurance policy or policies on the life of Xxxxxxx Xxxxxxxxx, in form and substance acceptable to the Lender.
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Collateral Assignment of Life Insurance means the collateral assignment of the life insurance policy on the life of X. Xxxxxxx Drecoll described in Section 6 hereof.
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Collateral Assignment of Life Insurance means the Assignment of Life Insurance Policy as Collateral, in the form of Exhibit F hereto with the blanks appropriately completed, from the Company, and signed by John Xxxxxxx, xx the Collateral Agent, for the benefit of the Purchasers, as the same may from time to time be supplemented, amended, restated or otherwise modified, relating to the collateral assignment by the Company of the key-man life insurance policy that the Company is required to purchase and maintain in accordance with Section 8.03.
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Examples of Collateral Assignment of Life Insurance in a sentence

  • From and after 30 days after the Closing Date, the Borrower will maintain one or more life insurance policies on the life of Xxxxxxx Xxxxxxxxx having a combined death benefit in an aggregate amount not less than $1,000,000, with the Borrower named as beneficiary, all subject to a Collateral Assignment of Life Insurance.

  • The original of the policy evidencing the Life Insurance Policy, signed by an authorized insurance company representative, shall be delivered to FINOVA at the closing together with a duly executed Collateral Assignment of Life Insurance which has been accepted and acknowledged in writing by the applicable insurer or its authorized representative.

  • Without limiting the foregoing, Schedule 5.1.19 describes the errors and omissions insurance coverage as of the Closing Date, each Loan Party’s existing insurance policies and the key man life insurance policy covered by the Collateral Assignment of Life Insurance.

  • 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”).

  • Without limiting the foregoing, Borrowers shall at all times have a $2,000,000 key-man insurance policy on the life of Xxxxxxx Xxxx, which shall be collaterally assigned to Agent within thirty (30) days after the Closing Date, for the benefit of itself and the Banks, pursuant to the Collateral Assignment of Life Insurance.

  • Xxxxxxx Drecoll with an insurance company acceptable to the Lender and at all times keep the Collateral Assignment of Life Insurance in full force and effect and pay all required policy premiums.

  • Without limiting the foregoing, the Company shall have, within 60 days after the Closing Date, $2,000,000 key-man insurance policies on each of the lives of XxXxxx and Few, which have been collaterally assigned to the Collateral Trustee pursuant to the Collateral Assignment of Life Insurance.

  • Agent shall have received (a) satisfactory evidence that the insurance policies required by Section 6.4 are in full force and effect, together with appropriate evidence showing loss payable and/or additional insured clauses or endorsements, as reasonably requested by Agent, in favor of Agent, on behalf of Lenders, (b) the original policy of the Life Insurance Policy and (c) the Collateral Assignment of Life Insurance Policy, duly executed by Borrowers and acknowledged by the respective insurance carrier.

  • The Secured Obligations shall be additionally secured by a Collateral Assignment of Life Insurance Policy on the life of Randxx Xxxx, xx an amount not less than $500,000 (the "Assignment").

  • Without limiting the foregoing, Schedule 5.1.18 describes the errors and omissions insurance coverage as of the Closing Date, each Loan Party's existing insurance policies and the key man life insurance policies covered by the Collateral Assignment of Life Insurance.


More Definitions of Collateral Assignment of Life Insurance

Collateral Assignment of Life Insurance means, collectively, those forms of collateral assignment of life insurance policies provided by the applicable insurance companies in respect of the key man life insurance policies issued on the lives of Xxxxxxx X. XxXxxx ("XxXxxx") and Xxxxxx X. Few ('Few").
Sample 1
Collateral Assignment of Life Insurance means a Collateral Assignment of Life Insurance pursuant to which the Borrower assigns to the Bank not less than $2,500,000 of insurance on the life of Kenneth K. Rieth, together with any cash value accumulated under suxx xxxxxx xx xxxe insurance related thereto, which such assignment shall be in form and content satisfactory to the Bank.
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Collateral Assignment of Life Insurance shall have the meaning set forth in paragraph 3 hereof.
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Collateral Assignment of Life Insurance means the Collateral Assignment of Life Insurance dated February 28, 2007 by Borrower in favor of the Trustee and the Bank, as amended, restated, supplemented, modified or extended from time to time.
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Collateral Assignment of Life Insurance means the Collateral Assignment of Policy in form and substance reasonably satisfactory to the Administrative Agent to be executed by Stephen J. Harrison as the insured, the Borrower as the owner of the xxxxxx (xxxx x xxxx amount not less than $5,000,000) and acknowledged by the insurer, naming the Administrative Agent as assignee thereunder for the benefit of the Lenders.
Sample 1

Related to Collateral Assignment of Life Insurance

  • 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.

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

  • 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.

  • 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.

  • General Assignment means, in relation to a Ship, a general assignment of (inter alia) the Earnings, the Insurances and any Requisition Compensation relative to that Ship in the Agreed Form and, in the plural, means all of them;

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

  • Assignment of Lease means the Assignment of Lease to be executed by the Seller at the Closing with respect to each parcel of Leased Real Property listed on Section 3.16(b) of the Disclosure Schedule, in a form to be mutually agreed by the Seller and the Purchaser.

  • Lender Assignment Agreement means an assignment agreement substantially in the form of Exhibit D hereto.

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

  • Assignment of Leases With respect to any Mortgaged Property, any assignment of leases, rents and profits or similar agreement executed by the Mortgagor, assigning to the mortgagee all of the income, rents and profits derived from the ownership, operation, leasing or disposition of all or a portion of such Mortgaged Property, in the form which was duly executed, acknowledged and delivered, as amended, modified, renewed or extended through the date hereof and from time to time hereafter.

  • Assignment of Contracts shall have the meaning provided in Section 5.07.

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

  • Assignment of Leases and Rents means the Assignment of Leases and Rents, executed by Borrower for the benefit of Lender, and pertaining to leases of space in the Project.

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

  • Mortgage Assignment means an assignment of the Mortgage in recordable form, sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect the sale of the Mortgage.

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

  • IP Assignment Agreement has the meaning set forth in Section 3.2(a)(iii).

  • Lease Assignment has the meaning set forth in Section 3.5(d).

  • Trademark Assignment Agreement has the meaning set forth in Section 2.01.

  • FHA Mortgage Insurance Contract means the contractual obligation of the FHA respecting the insurance of a Mortgage Loan.

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

  • 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;

  • 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.

  • Loan Assignment has the meaning set forth in the Purchase and Sale Agreement.

  • Patent Assignment Agreement means the Patent Assignment Agreement attached hereto as Exhibit G.

  • Assignment of Benefits means an arrangement whereby the Plan Participant assigns their right to seek and receive payment of eligible Plan benefits, in strict accordance with the terms of this Plan Document, to a Provider. If a provider accepts said arrangement, Providers’ rights to receive Plan benefits are equal to those of a Plan Participant, and are limited by the terms of this Plan Document. A Provider that accepts this arrangement indicates acceptance of an “Assignment of Benefits” as consideration in full for services, supplies, and/or treatment rendered.