PREMIUM PAYMENT METHOD. The Bank shall pay an amount equal to the planned premiums and any other premium payments that might become necessary to keep the policy in force.
PREMIUM PAYMENT METHOD. Subject to the Bank’s absolute right to surrender or terminate the policy at any time and for any reason, the Bank shall pay an amount equal to the planned premiums and any other premium payments that might become necessary to keep the policy in force.
PREMIUM PAYMENT METHOD. Subject to the Bank’s absolute right to surrender or terminate the Policy(ies) at any time and for any reason, the Bank shall pay the premium required for each Policy as it becomes due.
PREMIUM PAYMENT METHOD. The Bank or the Trustee at the direction of the Bank shall pay an amount equal to the planned premiums and any other premium payments that might become necessary to keep the policy in force.
PREMIUM PAYMENT METHOD. The Employer or the Trustee at the direction of the Employer shall pay an amount equal to the planned premiums and any other premium payments that might become necessary to keep the policy in force. If the policy contains a premium waiver provision, any such waived amounts shall be considered for all purposes of this Agreement to have been paid by the Employer.
PREMIUM PAYMENT METHOD. The Corporation shall pay the entire premium on the Policy. The amount of the current life insurance protection on the life of Insured Participant for each taxable year (or portion thereof) shall be included in Insured Participant’s taxable income for such taxable year.
PREMIUM PAYMENT METHOD. Subject to the Institution's absolute right to surrender or terminate the policy at any time and for any reason, the Institution shall pay an amount equal to the planned premiums and any other premium payments that might become necessary to keep the policy in force.
PREMIUM PAYMENT METHOD. The Bank agrees to remit to each insurer under the Policies (the “Insurer”) the entire premium amount when due.
PREMIUM PAYMENT METHOD. Each year, Employer agrees to forward the full amount of the annual premium due under the Policy for that year to Insurer on the date such premium is due until the occurrence of a termination event under Article VI. Each year, Owner agrees that he will pay to Employer, as partial reimbursement by Owner to Employer of the annual premium for the Policy, an amount equal to the economic benefit received by Insured during that tax year. The amount payable by Owner may be paid to Employer by payroll deduction or according to any other method which is agreeable to the Parties. Alternatively, if Employer and Owner agree that Employer shall pay to Insurer or that Owner shall reimburse to Employer some amount other than the amount stated in this Article II, the rights of Employer and Owner under the Policy shall be adjusted accordingly. If Employer is not reimbursed by Owner for a year for the full amount of the entire economic benefit received by Insured during that year, the economic benefit to the extent not reimbursed shall be reported by Employer as taxable income for that year to Insured.
PREMIUM PAYMENT METHOD. The Institution shall pay an amount equal to the planned premiums and any other premium payments that might become necessary to keep the policy in force.
