Examples of Critically Ill in a sentence
The Purchasing Shareholder shall immediately pay any insurance proceeds received by the Purchasing Shareholder after the Time of Closing under any Insurance Policy as a consequence of the Critically Ill Shareholder becoming Critically Ill to the Critically Ill Shareholder on account of the amount owing on the Promissory Note referred to in Subsection 6.3(b).
Upon a lump sum critical illness benefit becoming payable under any Insurance Policy under which the person insured is a Shareholder (hereinafter referred to in this Section as the “Insured Shareholder”) as a consequence of the Insured Shareholder becoming Critically Ill, the other Shareholder (hereinafter referred to in this Section as the “Policy Owning Shareholder”), shall proceed immediately to collect the insurance proceeds payable under such policy to the Policy Owning Shareholder.