Common use of Comparable Coverage Clause in Contracts

Comparable Coverage. Southcoast shall maintain the Policy in full force and effect. Southcoast may not amend, terminate, or otherwise abrogate the Executive's interest in the Policy unless Southcoast replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement and executes a new split dollar agreement and endorsement for the comparable insurance policy. The Policy or any comparable policy shall be subject to claims of Southcoast's creditors.

Comparable Coverage. Southcoast shall maintain the Policy in full force and effect. Southcoast may not amend, terminate, or otherwise abrogate the ExecutiveDirector's interest in the Policy unless Southcoast replaces the Policy with a comparable insurance policy to cover the benefit provided under this Agreement and executes a new split dollar agreement and endorsement for the comparable insurance policy. The Policy or any comparable policy shall be subject to claims of Southcoast's creditors.