Key Man Life Insurance Policy as defined in Section 5.5(b).
Key Man Life Insurance Policy means the policy of insurance owned by Borrower in the face amount of $1,000,000, policy number 2,723,128, issued by First Colony Life Insurance Company, insuring the life of Willxxx Xxxxxxx.
Key Man Life Insurance Policy means the key-man life insurance policy naming Lender as the sole beneficiary, in form and substance satisfactory to Lender, on Xx. Xxxxxxx in the amount of $1,000,000 with an insurance company approved by Lender.
Examples of Key Man Life Insurance Policy in a sentence
As further security for the Obligations, MCI shall assign and grant to BDC Capital a security interest in the Key Man Life Insurance Policy and the proceeds payable thereunder.
For greater certainty, MCI shall maintain the Key Man Life Insurance Policy until repayment in full of the Obligations, it being understood that such insurance collateral shall be in addition to all insurance required to be maintained by the Financing Parties under paragraph (j) of Article 6.
The Company is responsible for payment of Employee’s Key Man Life Insurance Policy and Directors and Management Insurance for the term of this Agreement.
More Definitions of Key Man Life Insurance Policy
Key Man Life Insurance Policy means a life insurance policy in the amount of $20,000,000 insuring the life of Xxxxxxx Xxxxxxx, chief executive officer of Parent.
Key Man Life Insurance Policy has the meaning given to such term in Section 8.08(c).
Key Man Life Insurance Policy means the life insurance policy issued by The Canada Life Assurance Company and owned by MCI insuring the life of [Name redacted - personal information] in an aggregate amount of commercially sensitive information.] ; [Amount redacted –
Key Man Life Insurance Policy means the Key-Man Life Insurance policy on the life of Mark Vaughan in an amxxxx xx xxx less than $1,000,000 reflecting the beneficiary as Trustee herein.
Key Man Life Insurance Policy. The Company is responsible for payment of Employee's Key Man Life Insurance Policy and Directors and Management Insurance for the term of this Agreement. In addition, due to the nature of Employee's duties to the Company and the inherent risk therein, the Company will provide disability and life insurance for Employee commensurate with Four (4) times his total compensation from the Company.
Key Man Life Insurance Policy means the $2,000,000 life insurance policy covering the life of Willxxx X. Xxxx, xxgether with any amendments or replacements thereof, endorsements thereto or substitutes therefor, in whole or in part.
Key Man Life Insurance Policy means a life insurance policy on the life of a Principal, for the benefit of Parent and assigned by Parent to Agent pursuant to Section 3.1(aa), to the extent permitted by this Agreement.