Common use of Purchase of Policy Clause in Contracts

Purchase of Policy. The Corporation has purchased the Policy from the Insurer in the total face amount of $7,500,000 and level Death Benefit Option. The parties hereto have taken all necessary action to cause the Insurer to issue the Policy, and shall take any further action which may be necessary to cause the Policy to conform to the provisions of this Agreement. The parties hereto agree that the Policy shall be subject to the terms and conditions of this Agreement and of the endorsement to the Policy or beneficiary designation filed with the Insurer.

Purchase of Policy. The Corporation has purchased the Policy from the Insurer in the total face amount of $7,500,000 4,000,000 and level a Level Death Benefit OptionOption (as such term is defined in the Policy). The parties hereto have taken all necessary action to cause the Insurer to issue the Policy, and shall take any further action which may be necessary to cause the Policy to conform to the provisions of this Agreement. The parties hereto agree that the Policy shall be subject to the terms and conditions of this Agreement and of the endorsement to the Policy or beneficiary designation filed with the Insurer.

Purchase of Policy. The Corporation has purchased will contemporaneously purchase the Policy from the Insurer in the total face amount Face Amount of Insurance (as such term is defined in the Policy) of $7,500,000 18,000,000 and level Death Benefit OptionOption A (as such term is defined in the Policy). The parties hereto have taken agree that they will take all necessary action to cause the Insurer to issue the Policy, and shall take any further action which may be necessary to cause the Policy to conform to the provisions of this Agreement. The parties hereto agree that the Policy shall be subject to the terms and conditions of this Agreement and of the endorsement to the Policy or beneficiary designation filed with the Insurer.

Purchase of Policy. The Corporation has purchased the Policy from the Insurer in the total face amount of $7,500,000 10,000,000 and level Death Benefit OptionOption 3 (as such term is defined in the Policy). The parties hereto have taken all necessary action to cause the Insurer to issue the Policy, and shall take any further action which may be necessary to cause the Policy to conform to the provisions of this Agreement. The parties hereto agree that the Policy shall be subject to the terms and conditions of this Agreement and of the endorsement to the Policy or beneficiary designation filed with the Insurer.