Key Employee Insurance. Company shall have the right at its expense to purchase insurance on the life of Executive, in such amounts as it shall from time to time determine, of which Company shall be the beneficiary. Executive shall submit to such physical examinations as may reasonably be required and shall otherwise cooperate with Company in obtaining such insurance.
Key Employee Insurance. Executive agrees that the Employer may, from time to time, apply for and take out in its own name and at its own expense, life, health, accident, or other insurance upon Executive that the Employer may deem necessary or advisable to protect its interests; and Executive agrees to submit to any medical or other examination necessary for such purposes and to assist and cooperate with the Employer in preparing such insurance; and Executive agrees that he shall have no right, title, or interest in or to such insurance.
Key Employee Insurance. The Company shall have the option, but not the obligation, to obtain on the life of Executive, pay all premium amounts related to, and maintain, “key employee” insurance naming the Company as beneficiary. Selection of such insurance policy shall be in the sole and absolute discretion of the Board. Executive shall cooperate fully with the Company, the Board, and the insurer in applying for, obtaining, and maintaining such life insurance, by executing and delivering such further and other documents as the Company, the Board, and/or the insurer may request from time to time, and doing all matters and things that may be convenient or necessary to obtain such insurance, including, without limitation, submitting to any physical examinations and providing any medical information required by the insurer.
Key Employee Insurance. XStream shall have the right to obtain on the life of Executive, pay all premium amounts related to, and maintain, “key employee” insurance naming XStream as beneficiary. Selection of such insurance policy shall be in the sole and absolute discretion of the Board. Executive shall cooperate fully with XStream, the Board, and the insurer in applying for, obtaining and maintaining such life insurance, by executing and delivering such further and other documents as XStream, the Board and/or the insurer may request from time to time, and doing all matters and things which may be convenient or necessary to obtain such insurance, including, without limitation, submitting to any physical examinations and providing any medical information required by the insurer.
Key Employee Insurance. Company and Castlewood (US) shall each have the right at their own expense to purchase insurance on the life of Executive, in such amounts as it shall from time to time determine, of which either Company or Castlewood (US), as applicable, shall be the beneficiary. Executive shall submit to such physical examinations as may reasonably be required and shall otherwise cooperate with Company in obtaining such insurance.
Key Employee Insurance. On or following the Closing Date, in addition to the insurance on the life of Xxxx Xxxxxxxxxx referred to in Section 3.2(a)(xv) above, upon the written request of the Investor, the Company shall use its commercially reasonable efforts to obtain and maintain in force key Person life insurance policies of $5,000,000 (or such lesser amount as the Investor may request) on the lives of each of Xxxxxxx Xxxxxxx and Xxxxxxxxxxx Xxxxx, with the Company designated as beneficiary under each such policy (the “Key Employee Insurance”).
Key Employee Insurance. The Bank Group shall have the right to obtain on the life of the Executive, pay all premium amounts related to, and maintain, “key employee” insurance naming any of the Bank Group as beneficiary. Selection of such insurance policy shall be in the sole and absolute discretion of the Board. The Executive shall, to the extent reasonably practicable, cooperate fully with the Bank Group and the insurer in applying for, obtaining and maintaining such life insurance, by executing and delivering such further and other documents as the Bank Group and/or the insurer may request from time to time, and doing all matters and things which may be convenient or necessary to obtain such insurance, including, without limitation, submitting to any physical examinations and providing any medical information required by the insurer. The Bank Group shall pay or reimburse the Executive for any reasonable costs he incurs in connection with his commitments under this Section 5(b).
Key Employee Insurance. The Company may secure in its own name or otherwise, and at its own expense, life, health, accident and other insurance covering Executive alone or with others during the Term, and Executive shall not have any right, title or interest in or to such insurance other than as expressly provided herein. In full or partial satisfaction of this Section 3.8, the Company may in its discretion, which discretion shall be reasonably exercised, elect to succeed as beneficiary to the beneficiary of key employee insurance currently covering Executive, provided that all necessary consents and approvals have been obtained and other conditions of such continued coverage have been fulfilled, for the duration of such policy's coverage period. Executive agrees to assist the Company in procuring such insurance by submitting to the usual and customary medical and other examinations to be conducted by such physicians as the Company or such insurance company may designate and by signing such applications and other written instruments as may be required by the insurance companies to which application is made for such insurance. Executive's failure to submit to such usual and customary medical and other examinations shall be deemed a material breach of this Agreement.
Key Employee Insurance. The Company will use its best efforts following the Closing (as defined in the Purchase Agreement) to cause to be maintained, with sound and reputable insurers, term life insurance on the lives of Xxxxxx Xxx and Xxx Xxxxx, in the amounts as determined in the good faith by the Board of Directors. Such policy shall be owned by the Company and all benefits thereunder shall be payable to the Company.
Key Employee Insurance. 17 2.12 Right of First Refusal and Co-Sale Agreement............................... 17 2.13
