Assigned Life Insurance Policies definition

Assigned Life Insurance Policies and "Second Amendment" are hereby inserted in Section 1.01 of the Credit Agreement in appropriate alphabetical order as follows:
Sample 1
Assigned Life Insurance Policies means those certain life insurance policies on the lives of certain employees or former employees of the Company as set forth on Schedule 1 to the Second Amendment, as amended from time to time pursuant to Section 7.02(g), that (x) have been issued by an insurance carrier acceptable to Lender in its reasonable credit judgment and (y) have been pledged to Lender for the benefit of the Credit Parties pursuant to collateral assignment(s) in form and substance acceptable to Lender in its reasonable credit judgment.
Sample 1
Assigned Life Insurance Policies means collectively (i) the policy of life insurance issued by Zurich Kempxx Xxxe on the life of Ramix X. Xxxxx xx the policy amount of Two Million Dollars ($2,000,000) and (ii) the policy of life insurance issued by The Equitable Life Assurance Society of the United States on the life of Geraxx X. Xxxxxxxx xx the policy amount of Two Million Dollars ($2,000,000).
Sample 1

Examples of Assigned Life Insurance Policies in a sentence

  • Upon the Holders' request from time to time, the Company shall cause the insurer on each Assigned Life Insurance Policy to acknowledge the assignment of the Assigned Life Insurance Policies to the Holders, and will execute and deliver to the Holders, or cause such insurer to execute and deliver to the Holders, any documents or questionnaires necessary or useful to further evidence such assignment and to provide or confirm information about the Assigned Life Insurance Policies.

  • During such five (5) Business Day period, such Assigned Life Insurance Policies shall be included within the Borrowing Base even though such Assigned Life Insurance Policies have not been pledged to the Lender.

  • Within five (5) Business Days after receipt of evidence of such repayment, Lender (or its counsel) shall receive from the Borrowers collateral assignment(s) in favor of Lender with respect to the Assigned Life Insurance Policies in form and substance acceptable to the Lender.

  • Prior to the time on which the Lender receives evidence of such repayment (or direction to make such repayment) as provided in the previous sentence or otherwise, the Assigned Life Insurance Policies shall not be included in the Borrowing Base.

  • Any payments received by the Holders under the -43- 44 Assigned Life Insurance Policies may be applied by the Holders to any part of the Obligations then outstanding, and such payment shall not postpone or reduce the amount of any payment due thereafter; provided that the Holders shall have no interest in any portion of the insurance proceeds exceeding $2,000,000.00.

  • Thereafter, the Assigned Life Insurance Policies shall be excluded from the Borrowing Base, until such time as the Lender receives such collateral assignment(s).

  • Until the Debenture is paid in full, the Company shall pay, or cause to be paid, when due all premiums on the Assigned Life Insurance Policies and otherwise cause the Assigned Life Insurance Policies to be maintained in full force and effect at all times.


More Definitions of Assigned Life Insurance Policies

Assigned Life Insurance Policies means, collectively, the “key man” insurance policies on the lives of, Xxxxx Xxxxxxx, M.D or any other owner of a PC Entity or other key person obtained from time to time by the Credit Parties or by the PC Entities for the benefit of the Credit Parties pursuant to which the Agent requests that such policy be collaterally assigned for the benefit of the Agent and the Lenders (it being understood that any such collateral assignment shall be (x) entered into in the time periods specified in Section 8.03 and (y) in form and substance reasonably satisfactory to the Agent).
Sample 1

Related to Assigned Life Insurance Policies

  • Life Insurance Policy has the meaning given in Section 6.10.

  • Insurance Policies has the meaning set forth in Section 3.16.

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Title Insurance Policies means, with respect to each Individual Property, an ALTA mortgagee title insurance policy in a form acceptable to Lender (or, if an Individual Property is in a State which does not permit the issuance of such ALTA policy, such form as shall be permitted in such State and acceptable to Lender) issued with respect to such Individual Property and insuring the lien of the Mortgage encumbering such Individual Property.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • Certificate Insurance Policy The Certificate Guaranty Insurance Policy No. AB1094BE, dated the Closing Date, including any endorsements thereto issued by the Certificate Insurer to the Trustee for the benefit of the Holders of the Insured Certificates, a form of which is attached as Exhibit L hereto.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Title Insurance Policy A title insurance policy maintained with respect to a Mortgage Loan.

  • Bond Insurance Policy means the municipal bond insurance policy, if any, issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds and constitutes a Bond Facility under the Indenture.

  • Environmental Insurance Policy means, with respect to any Mortgage Loan or the related Mortgaged Property or REO Property, any insurance policy covering pollution conditions and/or other environmental conditions that is maintained from time to time in respect of such Mortgage Loan, Mortgaged Property or REO Property, as the case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • Blanket insurance policy means a group policy covering a defined class of

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Required Insurance Policy With respect to any Mortgage Loan, any insurance policy that is required to be maintained from time to time under this Agreement.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • Health-care-insurance receivable means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided.

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • Life Insured means the person named in the Schedule, on whose life the Policy is effected;

  • Insurance Assignment means the valid and effective first legal assignment of the Insurances (together with the notice thereof), to be executed by the Borrower in respect of the Vessel in favour of the Trustee, such assignment and notice to be in the form and on the terms and conditions required by the Agent and the Hermes Agent and agreed on the signing hereof and as specified in paragraph 42 of Schedule 4;

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.