Life Insurance Proceeds definition

Life Insurance Proceeds means the net amount of cash proceeds actually received by Systems or the Company as a result of the Employee's death, which are: (1) not pledged by Systems or the Company to secure any indebtedness of Systems or the Company; and (2) not required to be paid by Systems or the Company to other Persons by any contract entered into by Systems or the Company prior to the Employee's death.
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Life Insurance Proceeds means any benefit payable on the death of a Member of this Plan under an insured life insurance program sponsored by the Employer, other than any additional benefit attributable solely to a member’s death from accidental causes (whether or not occurring in the line of duty).
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Life Insurance Proceeds means the aggregate cash proceeds of any key man life insurance policy received by Borrower or any Guarantor.
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Examples of Life Insurance Proceeds in a sentence

  • Beneficiary or Beneficiaries means the person or persons designated to receive the Life Insurance Proceeds.

  • If we fail to pay the Life Insurance Proceeds under this Policy within 30 days after we receive due Proof of death, and if the Beneficiary elects to receive a lump sum settlement, we will pay interest on the Proceeds after the expiration of the 30-day period.

  • Payment of the premiums when due is a condition required for continuation of coverage.LIFE INSURANCE Subject to any reduction or termination provisions of the Policy, if you die while insured under the Policy, we will pay the Life Insurance Proceeds to your Beneficiary(ies) when we receive Proof of your death.

  • For more informa- tion, see Life Insurance Proceeds in Publi- cation 525.

  • If you have designated more than one Beneficiary, the Life Insurance Proceeds shall be paid to the Beneficiaries in the proportion as specified by you.


More Definitions of Life Insurance Proceeds

Life Insurance Proceeds means the proceeds of any life insurance policy on the life of Clifford Rhee specifxxxxxx xxxxxxed to Roynat.
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Life Insurance Proceeds means, collectively, any proceeds or other amounts under the Life Insurance, including any cash surrender value or death benefit.
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Life Insurance Proceeds has the meaning set forth in Section 4(b).
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Life Insurance Proceeds shall have the meaning set forth in Section 5(b) hereof.
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Life Insurance Proceeds means any life insurance proceeds payable to Grantor upon death of Xxxxxx Xxxxxx.
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Life Insurance Proceeds means proceeds paid to the Company as beneficiary under the life insurance policy purchased pursuant to Section 7.5 herein, whereby in the event the Family LP exercises its "put right" pursuant to Section 7(a) herein or the Company exercises its "call right" pursuant to Section 7(b) herein, such proceeds shall be applied to the purchase price of any shares purchased under such "put right" or "call right", as the case may be; PROVIDED, HOWEVER, that in no event shall such Life Insurance Proceeds in excess of $15 million be applied to any such "put right" or "call right".
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Life Insurance Proceeds means any benefit payable on the death of a Member of this Plan under an insured life insurance program sponsored by the Employer.
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