Collateral Assignment of Key Person Life Insurance Sample Clauses
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Collateral Assignment of Key Person Life Insurance. The Borrower will, within 60 days after the Closing Date, deliver a collateral assignment relating to the key person life insurance policy on Dr. ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ in the amount of $5,000,000 in form and substance reasonably satisfactory to the Administrative Agent.
Collateral Assignment of Key Person Life Insurance. If any Obligor obtains key person life insurance in respect of any of its officers or directors, the Borrower will, within thirty (30) days after obtaining any such insurance, deliver a collateral assignment relating to such key person life insurance in form and substance reasonably satisfactory to the Administrative Agent.