Key Person Life Insurance Sample Clauses
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Key Person Life Insurance. The Company shall maintain and keep in full force and effect key person life insurance on the life of Shal▇▇ ▇. ▇▇▇▇▇▇ ▇▇ an aggregate amount of not less than $5,000,000 with the proceeds thereof payable to the Company.
Key Person Life Insurance. The Executive acknowledges that the Company may wish to purchase insurance on the life of the Executive, the proceeds of which would be payable to the Company, at the Company’s expense. The Executive hereby consents to such insurance and agrees to submit to any medical examination and release of medical records required to obtain such insurance.
Key Person Life Insurance. 17 3.19 Stabilization..................................................................................17 3.20
Key Person Life Insurance. The Company shall have obtained from a responsible and reputable insurance company or association a term life insurance policy on the life of ▇▇▇▇▇ ▇▇▇ in the amount of $2,000,000 with proceeds payable to the Company.
Key Person Life Insurance. The Company will maintain key person life insurance in an amount not less than $1,000,000 on the life of ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ and pay the annual premiums therefor naming the Company as the sole beneficiary thereof for at least three years following the Effective Date.
Key Person Life Insurance. Within sixty (60) days of the date hereof, the Company agrees to obtain from financially sound and reputable insurers term life insurance on the lives of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ in the amounts of $2,000,000 and $1,000,000 respectively. The Company will cause to be maintained the term life insurance required by this Section 6.1(m). Such insurance policies shall name the Company as loss payee and shall not be cancelable by the Company without the prior approval of the Board of Directors.
Key Person Life Insurance. The Company will maintain key person life insurance in an amount not less than $1,200,000 on the life of E. ▇▇▇▇▇▇▇ ▇▇▇▇▇ and pay the annual premiums therefor naming the Company as the sole beneficiary thereof for at least three years following the Effective Date.
Key Person Life Insurance. The Company shall have the right to obtain, at its sole cost and expense, one or more insurance policies insuring the life of Executive for the benefit of the Company. Executive agrees to cooperate fully with the Company and to take such actions as the Company may reasonably require in order to obtain such insurance, including without limitation, signing necessary documentation and submitting to required medical exams.
Key Person Life Insurance. Lender shall have received an assignment of Borrower's interest in the key person insurance on the life of ----------N/A----------in the amount of ----------N/A----------and 00/100 Dollars ($----------N/A----------).
Key Person Life Insurance. [INTENTIONALLY OMITTED].