Key Person Life Insurance. From and after 30 days after the Closing Date, the Borrower will maintain one or more life insurance policies on the life of Xxxxxxx Xxxxxxxxx having a combined death benefit in an aggregate amount not less than $1,000,000, with the Borrower named as beneficiary, all subject to a Collateral Assignment of Life Insurance.
Appears in 4 contracts
Samples: Loan and Security Agreement (1847 Holdings LLC), Loan and Security Agreement (1847 Goedeker Inc.), Loan and Security Agreement (1847 Goedeker Inc.)