Common use of Comparable Coverage Clause in Contracts

Comparable Coverage. Upon execution of this Split Dollar Agreement, the Bank shall maintain the Policy in full force and effect, and the Bank shall not amend, terminate, or otherwise abrogate the Executive's interest in the Policy unless the Bank (a) replaces the Policy with a comparable insurance policy to cover the benefit provided under this Split Dollar Agreement and (b) executes a new Split Dollar Agreement and Endorsement for the comparable insurance policy. The Policy or any comparable policy shall be subject to the claims of the Bank's creditors.

Comparable Coverage. Upon execution of this Amended Split Dollar Agreement, the Bank shall maintain the Policy in full force and effect, and the Bank shall not amend, terminate, or otherwise abrogate the Executive's interest in the Policy unless the Bank (a) replaces the Policy with a comparable insurance policy to cover the benefit provided under this Amended Split Dollar Agreement and (b) executes a new Split Dollar Agreement and Endorsement for the comparable insurance policy. The Policy or any comparable policy shall be subject to the claims of the Bank's creditors.

Comparable Coverage. Upon execution of this Amended Split Dollar Agreement, the Bank shall maintain the Policy in full force and effect, effect and in no event shall the Bank shall not amend, terminate, terminate or otherwise abrogate the Executive's interest in the Policy Policy, unless the Bank (a) replaces the Policy with a comparable insurance policy to cover the benefit provided under this Amended Split Dollar Agreement and (b) executes a new Split Dollar Agreement split dollar agreement and Endorsement endorsement for the said comparable insurance policy. The Policy or any comparable policy shall be subject to the claims of the Bank's creditors.