Policy Dividends. Any dividend declared on the Policy shall be applied to purchase paid-up additional insurance on the life of the Employee. The parties hereto agree that the dividend election provisions of the Policy shall conform to the provisions hereof.
Policy Dividends. Policy dividends shall be applied to purchase paid-up additional insurance protection.
Policy Dividends. Any dividend declared on the Policy shall be either applied to reduce the premium payments on the Policy agreed to be paid by the Bank pursuant to Section 4 herein or to purchase paid up additions to the Policy, at the discretion of the Bank.
Policy Dividends. Except as set forth in Section 2.26(g) of the Company Disclosure Schedule, there are no insurance policies issued, reinsured or assumed by the Company or any of the Company Subsidiaries that are currently in force under which the Company or any of the Company Subsidiaries may be required to pay dividends to the holders thereof.
Policy Dividends. The dividends on each Policy shall be applied as elected by the Company.
Policy Dividends. Any dividend declared on the Policy shall be applied to reduce premiums on the Policy.
Policy Dividends. The Policy does not, and will not, generate policy dividends.
Policy Dividends. There are no insurance policies issued, reinsured or assumed by the Company or any of the Company Subsidiaries that are currently in force under which the Company or any of the Company Subsidiaries may be required to pay dividends to the holders thereof.
Policy Dividends. In accordance with the election made by the Owner, any dividend declared on a Policy shall be applied to purchase paid-up additional insurance on the life of the Employee. The parties agree that the dividend election provisions of a Policy shall conform to the provisions of this Agreement.
Policy Dividends. The dividends declared by the Insurer on the Policy will be applied to purchase additional paid-up insurance on the life of the Employee, or surrendered to pay policy premiums.
