Key Man Insurance Policy definition

Key Man Insurance Policy means a life insurance policy or life insurance policies on the primary individual or individuals, as applicable, operating an Issuer.
Sample 1
Key Man Insurance Policy means that certain Key Man Life Insurance Policy dated as of December 16, 1997 issued by Wxxxxxx Penn Life Insurance Company of New York on the life of Txxxxx Xxxxxxxx, the Chief Executive Officer of Borrower, in the amount of $10,000,000, naming Agent as loss payee thereunder.
Sample 1
Key Man Insurance Policy means any life insurance policy owned by the Company insuring the life of either Xxxxx X. Xxxxx or Xxxx X. Xxxxxxx.
Sample 1

Examples of Key Man Insurance Policy in a sentence

  • Xxxxxx naming the Company as sole beneficiary (the "Key Man Insurance Policy").

  • The Company shall have the right to place a "key man" life insurance policy, providing a death benefit of up to $15,000,000 upon the life of the Executive, for which the Company is the beneficiary (the "Key Man Insurance Policy").

  • As of, and for 30 days after, the expiration of the Term, EMPLOYEE shall be entitled to purchase from EMPLOYER that certain life insurance policy (Mass Mutual Life Insurance Policy No. 9655632) in the face amount of $1,000,000 (the "Key Man Insurance Policy") for an amount equal to the premiums paid by EMPLOYER through the time of purchase.

  • The Key Man Insurance Policy is in full force and effect and all premiums due thereunder have been paid through the date hereof.

  • At least $6,000,000 Key Man Insurance Policy for Xxxxxxxxx Xxxx xx Xxxxxxx Xxxxxxxx to be effective within 90 days of Closing.

  • Until the earlier of the purchase of the Key Man Insurance Policy as provided in the prior sentence and the termination of the Term, EMPLOYER shall continue in effect the Key Man Insurance Policy.

  • Unless and until purchased by EMPLOYEE as provided herein, EMPLOYER shall continue being the owner of the Key Man Policy and the death benefits under the Key Man Insurance Policy shall be payable to EMPLOYER.

  • The Company shall provide "Key man" life insurance, providing a death benefit of $15,000,00 upon the death of the Executive, for which the Company is the beneficiary (the "Key Man Insurance Policy").

  • Geib dies then the money that Company receives from the Key Man Insurance Policy will be used to pay any and all interest payments as well as paying the principle on the notes held by both the Noteholder and Richard S.

  • The Company shall have the right to place a "key man" life insurance policy, providing a death benefit of up to $15,000,000 upon the life of the Executive, for which the Company is the beneficiary (the "Key Man Insurance Policy ").

Related to Key Man Insurance Policy

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

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

  • 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.

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

  • Policy means Related Party Transaction Policy.

  • 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.

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

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Insurance means comprehensive insurance of the vehicle(s)/equipment and shall include insurance of the crew.

  • 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.

  • Insurance Coverage Contractor shall, at Contractor’s sole expense, procure, maintain and keep in force for the duration of this Contract the following insurance conforming to the minimum requirements specified below. Unless specified herein or otherwise agreed to by the City, the required insurance shall be in effect prior to the commencement of work by Contractor and shall continue in force as appropriate until the latter of:

  • Health insurance coverage means benefits consisting of medical care (provided directly, through

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

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • 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.

  • 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.

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

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

  • Travel Insurance means coverage for personal risks incidental to planned travel, including one or more of the following:

  • 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.