Key Man Policy. Following purchase of the Key Man Policy and at all times thereafter, Company shall promptly pay all premiums due to the insurance company issuer(s) of such policy. In the event Company determines it is unable to pay such premiums at any time, Company shall immediately notify Note Holder whereupon Note Holder shall have the right (but not the obligation) to pay such premiums on behalf of Company and seek and obtain reimbursement thereof from Company.
Key Man Policy. Separate and apart from any life insurance policy provided by KMC for the benefit of Xx. Xxxxxxxxx pursuant to Section 5(b)(i), KMC shall be permitted to maintain a "key man life insurance policy", in such amount and on such terms as KMC shall in its sole discretion determine, on the life of Xx. Xxxxxxxxx for so long as this Agreement remains in effect. Any proceeds from any such "key man" policy shall be payable solely to KMC; Xx. Xxxxxxxxx, his heirs, assigns and beneficiaries shall have no rights with respect thereto. Xx. Xxxxxxxxx confirms that he is in good health and therefore has no reason to believe that such insurance will not be available at standard rates.
Key Man Policy. Maintain in effect at all times the Key-Man Policy in form and substance acceptable to the Purchaser, and, within 30 days after the Closing Date and thereafter within five (5) Business Days of the date on which premiums under such policy are due, deliver to the Purchaser an Officer's Certificate of the Company certifying that all premiums due and owing have been paid with respect to the Key-Man Policy, together with evidence of such payment, and that the Key-Man Policy is in full force and effect.
Key Man Policy. Genesys S.A. shall maintain on terms approved by the Agent the Key-man Policy in the name and in favour of Genesys S.A. and the Security Agent and ensure the Security Agent's security interests in such policy has been noted thereon and procure the renewal or replacement of the Key-man Policy prior to its expiry on terms acceptable to the Agent. On or prior to 1 August 2006, Genesys S.A. shall either renew the Key-man Policy for no less than an additional five years or enter into a new policy (in form and substance satisfactory to the Agent) for a minimum coverage amount of USD 1,000,000 and for a period of no less than five years from 1 August 2006. Genesys S.A. shall provide evidence of such new or renewed Key-man Policy upon the reasonable request of the Agent.
Key Man Policy. The Company shall obtain the Key-Man Policy -------------- within 60 days of the Initial Preferred Closing and shall keep the Key Man Policy in effect until the expiration of the lock-up period set forth in Section 3(b)(xii) hereof.
Key Man Policy. The Company shall maintain a key-man life insurance policy on the life of Xxxx X. Xxxx in the face amount of $2,000,000. Such insurance policy shall name the TVAX Investor Trust as beneficiary and shall provide that such insurance policy may not be canceled unless the insurance carrier gives at least 30 days prior written notice of such cancellation to the beneficiary.
Key Man Policy. Within ninety (90) days after the end of each fiscal year, an Officer's Certificate stating that all premiums due and owing have been paid with respect to the Key Man Policy and that the Key Man Policy is in full force and effect; PROVIDED, FURTHER, that the Borrower and the Company and each of its Subsidiaries hereby acknowledge and agree that maintenance of the Key Man Policy in form and substance acceptable to the Purchaser is required at all times until the obligations under this Agreement have been satisfied in full;
Key Man Policy. The Company shall have the right to purchase a “key man” life insurance policy naming the Company as the sole beneficiary thereunder. You agree to take any further action reasonably requested by the Company for the procurement of such policy.
Key Man Policy. Fleet hereby acknowledges and agrees that as of the Closing Date it shall have no further right or interest in the key man life insurance policy required to be obtained pursuant to Section 5.10 of the SPA. Fleet agrees to take such steps as the Company reasonably requests (at the Company's expense) to evidence its relinquishment of any interest in such policy.
Key Man Policy. NPSC warrants that it will maintain a "key man" Life Insurance policy on Xxxx Xxxxxxxx for which NPSC is the beneficiary in an amount of not less than One Million Dollars ($1,000,000) until at least March 31, 2001.
