Key Man Insurance definition

Key Man Insurance has the meaning provided in Section 6.07(a).
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Key Man Insurance means that certain key-man life insurance policy with American States Life Insurance Company (Policy #__________________) insuring the life of Xxxxx X. Xxxxxxx in the amount of $2,000,000.00 and naming Borrower as the beneficiary.
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Key Man Insurance. See Section 3. 8.
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Examples of Key Man Insurance in a sentence

  • Such insurance may be in the form of Directors and Officers Insurance, Key Man Insurance, Employer’s Liability Insurance, General Business Liability Insurance, and/or any other applicable insurance policy.

  • Only such principal customers are eligible to participate in the promotion who have Key Man Insurance at the time of crediting of the insurance fee, and who do not have any overdue debt in excess of HUF 5,000 and outstanding for longer than 30 days owed to Raiffeisen Bank.

  • The Bank shall credit an amount equaling the first two months’ fee of the Key Man Insurance in lump sum by the 27th of the third month following the setting of the insurance to the same bank account as was debited by the Bank earlier with the insurance fee amounts.

  • The Company may, at its election and for its benefit, obtain insurance against the disability, accidental loss or death of the Executive (e.g. "Key Man Insurance") and the Executive shall submit to such physical examinations and supply such information as may be reasonably required in connection with the obtainment thereof.

  • Such insurance may be in the form of Directors and Officers Insurance, Key Man Insurance, Employers Liability Insurance, General Business Liability Insurance, and/or any other applicable insurance policy.

  • Xxxxxx naming the Company as sole beneficiary (the "Key Man Insurance Policy").

  • The Company shall purchase Key Man Insurance policy of such amounts as may be decided by the Board, with benefits payable to the Company, covering the Key Employees and such of the Promoters as may be identified by the Company.

  • The Company shall have the right to obtain what is commonly known as "Key Man Insurance" on the life of Xx. Xxxxxxx in such amount as the Company deems appropriate.

  • The Company will maintain for a period of at least five (5) years, Key Man Insurance on Xxxxxx X.

  • The Board of Directors of the Corporation has determined the reasonable method of compensation of the Executive and has offered him compensation of an annual base salary and bonuses as set forth in Sections 3 and 4, participation in a 401(k) Plan in accordance with law, Key Man Insurance, together with the other employee benefits generally set forth in the Corporation's policies and procedures manual.


More Definitions of Key Man Insurance

Key Man Insurance shall have the meaning assigned to such term in Section 7.1(c)(ii).
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Key Man Insurance shall have the meaning set forth in Section 17(j) hereto.
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Key Man Insurance. Allegro Rainbow has purchased Key Man Insurance for Xxxxx Xxxxxx to protect the investors at this crucial stage. Xx. Xxxxxx’x health, however, is optimum. He is a nonsmoker, non-drinker and has played soccer for the past 25 years on a weekly basis.
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Key Man Insurance has the meaning set forth in Section 2(c) hereof. "Knutxxx Xxxloyment Agreement" means the Amended and Restated Employment Agreement of Robexx X. Xxxxxxx xxxed as of October 26, 1989 by and among you, Holdings and EMC. "Management Repurchase Agreement" means the form of Management Exchange and Repurchase Agreement dated October 26, 1989 entered into between Holdings and each of the Management Stockholders. "Management Stockholders" is used herein as defined in the Stockholders Agreement.
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Key Man Insurance a policy of insurance which shall not expire prior to the Maturity Date with respect to each of Xxxxxxx Xxxxxxx and Xxxxxx Xxxxxxx providing for the payment of not less than $10,000,000, in the event of the death of the beneficiary thereof and (i) payable to the Borrower and assigned to the Collateral Agent in a form reasonably acceptable to the Collateral Agent or (ii) payable to the Collateral Agent as loss payee.
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Related to Key Man Insurance

  • ' Compensation Insurance With respect to all operations performed, the Party shall carry workers’ compensation insurance in accordance with the laws of the State of Vermont. Vermont will accept an out-of-state employer's workers’ compensation coverage while operating in Vermont provided that the insurance carrier is licensed to write insurance in Vermont and an amendatory endorsement is added to the policy adding Vermont for coverage purposes. Otherwise, the party shall secure a Vermont workers’ compensation policy, if necessary to comply with Vermont law.

  • Health insurance coverage means benefits consisting of medical care (provided directly, through

  • Individual health insurance coverage means health insurance coverage offered to individuals in the

  • Insurance Coverage Contractor shall, at Contractor’s sole expense, procure, maintain and keep in force for the duration of this Contract the following insurance conforming to the minimum requirements specified below. Unless specified herein or otherwise agreed to by the City, the required insurance shall be in effect prior to the commencement of work by Contractor and shall continue in force as appropriate until the latter of:

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • Travel Insurance means coverage for personal risks incidental to planned travel, including one or more of the following:

  • Dental Insurance The District shall contribute $175.00 annually toward the cost of dental insurance whether for single or family coverage for full status employees who qualify for and enroll in the plan. The cost of the premium not contributed by the District for family coverage shall be borne by the employee through payroll deduction. This coverage shall continue for the duration of this contract.

  • Policy means Related Party Transaction Policy.

  • Insurance Cover means the aggregate of the maximum sums insured under the insurance taken out by the Contractor pursuant to Article 20, and includes all insurances required to be taken out by the Contractor under Clauses 20.1 and 20.9 but not actually taken, and when used in the context of any act or event, it shall mean the aggregate of the maximum sums insured and payable or deemed to be insured and payable in relation to such act or event;

  • Other Insurance means insurance available to any covered person that covers a loss to which this policy applies, other than either primary insurance or insurance specifically purchased by you to be excess of the insurance afforded by this policy.

  • Life insurance means contracts that incorporate mortality risk, including annuity and pure endowment contracts, and as may be specified in the valuation manual.

  • group insurance means blanket insurance and franchise insurance and any other forms of group insurance.

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • Group health insurance coverage means in connection with a group health plan, health insurance

  • 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;

  • Insurance Consultant or "consultant" means a person who:

  • Health insurance means protection which provides payment of benefits for covered sickness or injury.

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.

  • Policies shall have the meaning specified in Section 6.1(b) hereof.

  • Accidental death and dismemberment insurance or "AD&D" means basic accidental death and dismemberment (AD&D) insurance paid for by the employing agency, as well as supplemental accidental death and dismemberment insurance offered to and paid for by employees for them- selves and their dependents.

  • Crew Insurances means insurances against crew risks which shall include but not be limited to death, sickness, repatriation, injury, shipwreck unemployment indemnity and loss of personal effects.

  • Health insurance carrier or "carrier" means any entity subject to the insurance

  • Medical malpractice insurance means insurance against legal liability incident to the practice and provision of a medical service other than the practice and provision of a dental service.

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts:

  • Reimbursement insurance policy means a policy of insurance