Common use of Collateral Policy Clause in Contracts

Collateral Policy. Collateral Policy means each effective insurance policy insuring the life of ▇▇▇ ▇▇▇▇▇▇▇ in which Bank has a perfected, first priority Lien in the cash value and all death benefits, together with such other assurances as Bank may require to evidence its interest in such policy.

Collateral Policy. Collateral Policy means each effective insurance policy insuring the life of ▇▇▇ ▇▇▇▇▇▇▇ Don Sillars in which Bank has a perfected, first priority Lien in priorit▇ ▇▇▇▇ ▇▇ the cash value and all death benefits, together with such other assurances as Bank may require to evidence its interest in such policy.