Insurance-Life Sample Clauses

Insurance-Life. The City shall pay the annual premium toward the purchase of a term life insurance policy or similar life insurance policy having an aggregate face amount of ____________ Dollars ($____________). All life insurance policies provided hereunder shall be owned by the City on the life of the Manager, with the Manager having the sole right to determine the beneficiary under each of the life insurance policies. ___________________________________
Sample 1
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Insurance-Life. Borrowers shall maintain, without expense to Lenders, $2,000,000 term life insurance on the life of each of Jeffxxx X. Xxxxxxxx, Xxevxx X.
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Insurance-Life. Borrowers shall maintain, without expense to Lenders, $3,500,000 term life insurance on the life of Jeffxxx X. Xxxxxxxx xxxh Lenders as irrevocable beneficiaries. Borrowers shall apply for additional amounts of such insurance on the lives of Jeffxxx X. Xxxxxxxx, Xxevxx X. Xxxxxxxxxx, Xxdrxx X. Xxxxxxxxx xxx Michxxx X. Xxxxx (xx such amount on the life of each such individual as may hereafter be agreed by Lenders and Borrowers, or in the absence of such agreement, in equal amounts on the life of each such individual) prior to closing of any portion of the Loan contemplated by Section 1(c) hereof in an amount equal to such additional portion of the Loan, and shall deliver such additional policy or policies of insurance to Lenders when issued. Any insurance proceeds shall be applied in payment of the Notes and any other amounts which may be due Lenders under the Loan Documents. If any insurance proceeds remain after payment of the Notes and any other amounts due Lenders under the Loan Documents, Lenders shall promptly pay over such remaining amount of insurance proceeds to Borrower.
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Insurance-Life. A group term life insurance policy in an amount equal to the teacher’s annual salary (to the nearest thousand) shall be provided for each full-time teacher, with the full cost of said policy borne by the Board .
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Insurance-Life a. Conform beneficiaries to MDA
Sample 1
Insurance-Life. Employees shall be furnished with Group Life Insurance and Accidental Death and Dismemberment Insurance as outlined herein. Insurance coverage under this article shall be subject to the terms and conditions of the GLI and ADD policies purchased by the School District. The Board of Education reserves the right to change insurance carriers and third party administrator for life insurance provided in this agreement pursuant to the competitive bidding procedure utilized in the School District so long as the benefits remain substantially similar to those currently in effect. The Board of Education reserves the right to bid and change carriers to any life insurance company rated by A. M. Best at or above A-10. Divisions A, C, G, I, J, M, S and T employees who work six (6) hours or more shall receive GLI coverage of $40,000 and ADD coverage of $80,000. Divisions B, C, G and H employees hired prior to July 1, 1997 who work less than six hours shall receive GLI coverage of $19,000 and ADD coverage of $22,000. Division I employees hired after November 14, 1985 shall not receive GLI coverage or ADD Coverage. Division I employees hired before November 14, 1985 who work less than six (6) hours shall receive GLI coverage of $19,000 and ADD coverage of $22,000. No employee hired subsequent to July 1, 1997 will receive any GLI or ADD coverage until securing and maintaining a permanent position of six (6) hours or more.
Sample 1
Insurance-Life. The City shall pay the annual premium toward the purchase of a term life insurance policy or similar life insurance policy on the life of the Manager, provided that the City's expense in funding any single annual premium shall not exceed Dollars ($ ). All life insurance policies provided hereunder shall be owned by the City on the life of the Manager, with the Manager having the sole right to determine the beneficiary under each of the life insurance policies.
Sample 1
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Insurance-Life. The District shall pay the annual premium toward the purchase of a term life insurance policy or similar life insurance policy having an aggregate face amount of Five Hundred Thousand and No/100 Dollars ($500,000.00). All life insurance policies provided hereunder shall be owned by the Superintendent on the life of the Superintendent, with the Superintendent having the sole right to determine the beneficiary(ies) under each of the life insurance policies.
Sample 1

Related to Insurance-Life

  • Insurance Company The Buyer is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a State, territory or the District of Columbia.

  • Life Insurance No portion of your IRA may be invested in life insurance contracts.

  • Insurance Licenses Any one or more Insurance Licenses of the Company or any of its Subsidiaries shall be suspended, limited or terminated or shall not be renewed, or any other action shall be taken by any Governmental Authority, and such suspension, limitation, termination, non-renewal or action, either individually or in the aggregate, has had, or would reasonably be expected to have, a Material Adverse Effect; or

  • Life Insurance Policy In addition to the insurance coverage contemplated by Section 4(e), during the Employment Term the Company shall maintain in effect term life insurance coverage for the Executive with a death benefit of at least Five Hundred Thousand Dollars ($500,000), subject to the Executive's insurability at standard rates and with the beneficiary or beneficiaries, thereof designated by the Executive. Notwithstanding Section 9 of this Agreement, such life insurance policy or policies may be assigned to a trust for the benefit of any beneficiary designated by the Executive.

  • Insurance Policy The Employer agrees to remit to the Union an amount to be applied toward the payment of a premium by the Union for an insurance policy which provides a defense attorney to represent all members of the bargaining unit when they are charged with a criminal act that results from events occurring while the bargaining unit member was acting in an official capacity. The maximum amount payable during the term of the Agreement shall be seven dollars ($7.00) per member per month.

  • Term Life Insurance The Employer will maintain and make available to full-time and part-time employees, the current term life insurance plan as set forth in the document "Summary of Health Benefits, Maryland State Employees."

  • Insurance Reserves Lender may require Grantor to maintain with Lender reserves for payment of insurance premiums, which reserves shall be created by monthly payments from Grantor of a sum estimated by Lender to be sufficient to produce, at least fifteen (15) days before the premium due date, amounts at least equal to the insurance premiums to be paid. If fifteen (15) days before payment is due, the reserve funds are insufficient, Grantor shall upon demand pay any deficiency to Lender. The reserve funds shall be held by Lender as a general deposit and shall constitute a non-interest-bearing account which Lender may satisfy by payment of the insurance premiums required to be paid by Grantor as they become due. Lender does not hold the reserve funds in trust for Grantor, and Lender is not the agent of Grantor for payment of the insurance premiums required to be paid by Grantor. The responsibility for the payment of premiums shall remain Grantor's sole responsibility.

  • Insurance Companies Insurance required hereunder shall be in companies duly licensed to transact business in the State of Washington, and maintaining during the policy term a General Policyholders Rating of ‘A-’ or better and a financial rating of ‘IX’ or better, as set forth in the most current issue of “Best’s Insurance Guide.”

  • Life Insurance Policies If any Debtor, now or any time hereafter, is the beneficiary of a “key man life insurance policy”, it shall promptly notify the Agent thereof, provide the Agent with a true and correct list of the Persons insured, the name and address of the insurance company providing the coverage, the amount of such insurance and the policy number, and, unless otherwise waived by the Agent in writing, take such actions as Agent may deem necessary or the Agent shall deem reasonably desirable to collaterally assign policy to the Agent for the benefit of the Lenders.

  • Hazard Insurance All buildings or other customarily insured improvements upon the Mortgaged Property are insured by an insurer acceptable under the Fxxxxx Mae Guides, against loss by fire, hazards of extended coverage and such other hazards as are provided for in the Fxxxxx Mxx Guides or by the Fxxxxxx Mac Guides, in an amount representing coverage not less than the lesser of (i) the maximum insurable value of the improvements securing such Mortgage Loans and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the Mortgagee from becoming a co-insurer. If the Mortgaged Property is a condominium unit, it is included under the coverage afforded by a blanket policy for the project. If required by the FDPA, the Mortgage Loan is covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration and conforming to Fxxxxx Mxx and Fxxxxxx Mac requirements, in an amount not less than the amount required by the FDPA. Such policy was issued by an insurer acceptable under the Fxxxxx Mae Guides or the Fxxxxxx Mac Guides. The Mortgage obligates the Mortgagor thereunder to maintain all such insurance at the Mortgagor's cost and expense, and upon the Mortgagor's failure to do so, authorizes the holder of the Mortgage to maintain such insurance at the Mortgagor's cost and expense and to seek reimbursement therefor from the Mortgagor. All such standard hazard and flood policies are in full force and effect and on the date of origination contained a standard mortgagee clause naming the Seller and its successors in interest and assigns as loss payee; such clause is still in effect and all premiums due on any such policies have been paid in full. No originator, seller, prior owner of the Mortgage Loan, borrower or any other Person, has engaged in any act or omission that would impair the coverage of any such insurance policy, the benefits of the endorsement provided for therein, or the validity and binding effect of either, including, without limitation, the provision or receipt of any unlawful fee, commission, kickback, or other compensation or value of any kind. No action, inaction, or event has occurred and no state of facts exists or has existed that has resulted or will result in the exclusion from, denial of, or defense to coverage under any such insurance policies, regardless of the cause of such failure of coverage.

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