Key Man Insurance definition

Key Man Insurance shall have the meaning set forth in Section 6.13(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 ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ in the amount of $2,000,000.00 and naming Borrower as the beneficiary.

Key Man Insurance shall have the meaning set forth in Section 17(j) hereto.

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.
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.
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 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.
The Company will maintain for a period of at least five (5) years, Key Man Insurance on ▇▇▇▇▇▇ ▇.
The Company shall have the right to obtain what is commonly known as "Key Man Insurance" on the life of ▇▇.
The Company will maintain for a period of at least five (5) years, Key Man Insurance on ▇▇▇▇▇ ▇▇▇▇ in the amount of $1,000,000.
Company shall the right to obtain, at its sole discretion, what is commonly known as Key Man Insurance on the life of the Employee in such amount as the Company deems appropriate.
During the term of this Agreement the Company agrees to maintain in full force and effect Key Man Insurance on the Executive in an amount not less than $US 1 million.

More Definitions of Key Man Insurance

Key Man Insurance. See Section 3. 8.

Key Man Insurance. Allegro Rainbow has purchased Key Man Insurance for ▇▇▇▇▇ ▇▇▇▇▇▇ to protect the investors at this crucial stage. ▇▇. ▇▇▇▇▇▇’▇ health, however, is optimum. He is a nonsmoker, non-drinker and has played soccer for the past 25 years on a weekly basis.

Key Man Insurance a policy of insurance which shall not expire prior to the Maturity Date with respect to each of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ 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.

Key Man Insurance shall have the meaning assigned to such term in Section 7.1(c)(ii).

Key Man Insurance has the meaning set forth in Section 2(c) hereof. "Knut▇▇▇ ▇▇▇loyment Agreement" means the Amended and Restated Employment Agreement of Robe▇▇ ▇. ▇▇▇▇▇▇▇ ▇▇▇ed 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.