Assignment of Life Insurance definition

Assignment of Life Insurance shall have the meaning set forth in Section 4.9 hereof.

Assignment of Life Insurance means a collateral assignment, on terms acceptable to Lender, of the Life Insurance.

Assignment of Life Insurance means all of Borrower’s rights, title, and interest in Life Insurance policies issued by Empire General Life Assurance Corporation, or as may be modified, and issued as listed below:

Examples of Assignment of Life Insurance in a sentence

• 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.

• The original of the policy evidencing the Life Insurance Policy, signed by an authorized insurance company representative, shall be delivered to FINOVA at the closing together with a duly executed Collateral Assignment of Life Insurance which has been accepted and acknowledged in writing by the applicable insurer or its authorized representative.

• Except as to the limited policy security rights specifically granted Employer in the Assignment of Life Insurance Policy as Collateral in the form attached hereto as Exhibit B (the "Assignment") and as provided in Article VI, Owner retains all incidents of ownership in the Policy (including the right to surrender or cancel the Policy and the right to borrow against the Policy).

• The Collateral shall also include the property and rights subject to the Assignment of Life Insurance with respect to the Life Insurance in a form reasonably satisfactory to the Lender.

• Without limiting the foregoing, Borrowers shall at all times have a $2,000,000 key-man insurance policy on the life of Xxxxxxx Xxxx, which shall be collaterally assigned to Agent within thirty (30) days after the Closing Date, for the benefit of itself and the Banks, pursuant to the Collateral Assignment of Life Insurance.

More Definitions of Assignment of Life Insurance

Assignment of Life Insurance means an instrument in form and substance satisfactory to the Transferee to be executed and delivered by the Transferor at Closing which assigns to the Transferee the Transferor’s rights as secured party under any life insurance policy securing a Loan.

Assignment of Life Insurance the assignment required pursuant to ---------------------------- subsection 6.7.2, as it may be from time to time amended, restated or replaced.

Assignment of Life Insurance as defined in Section 2.13(c)(i)(A) hereof.

Assignment of Life Insurance means the Assignment of Life Insurance Policy as Collateral substantially in the form of EXHIBIT A, executed by Borrower in favor of Lender, covering a life insurance policy or policies on the life of Xxxxx Xxxxx, which in the aggregate amount are not less than $3,500,000.00.

Assignment of Life Insurance the Assignment of Life Insurance to be executed and delivered by the Borrower, substantially in the form of Exhibit B, as the same may be amended, supplemented or otherwise modified from time to time.

Assignment of Life Insurance means the Assignment of Life Insurance dated as of the date hereof, between the Borrower and the Agent, for its own benefit and for the benefit of the Lenders, substantially in the form of Exhibit I annexed hereto, as amended, modified or supplemented from time to time.

Assignment of Life Insurance means, collectively, (i) the Assignments of Life Insurance dated January 4, 1999 and March 1, 1999, by Dental Service and the insured in favor of the Administrative Agent, for its own benefit and for the benefit of the Lenders, and (ii) the Assignment of Life Insurance dated as of the Closing Date, by the owner and beneficiary thereof and the insured in favor of the Administrative Agent, for its own benefit and for the benefit of the Lenders, each substantially in the form of EXHIBIT I annexed hereto, as amended, modified or supplemented from time to time.