Key Man Policy definition

Key Man Policy means the key man life insurance policy(ies) described on Schedule 1, if applicable.
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Key Man Policy shall have the meaning set forth in Section 5.1 hereof.
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Key Man Policy has the meaning set forth in Section 7.15.
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Examples of Key Man Policy in a sentence

  • If the Company elects to obtain and maintain such Key Man Policy, the Employee shall cooperate in all reasonable respects in order to effectuate such Key Man Policy and shall provide such consents as may be necessary to comply with Section 101(j) of the Internal Revenue Code of 1986, as amended (the “Code”).

  • Upon termination of the Employee’s employment with the Company for any reason whatsoever other than death, the Company will transfer ownership of any such Key Man Policy to the Employee or his designee who will accept full responsibility for the payment of any premiums due following the Termination Date.

  • Section 5.10 of the Existing Credit Agreement is hereby amended by deleting the reference to “and MSLO Key Man Policy are” and substituting with “is”.

  • The Executive acknowledges and accepts that the Company: (i) shall be the owner and beneficiary of the Key Man Policy; (ii) shall be solely responsible for paying the premiums thereon; and (iii) shall be entitled to determine the face amount of the Key Man Policy in the discretion of the Company’s Board of Directors.

  • Upon termination of the Employee’s employment with the Company for any reason whatsoever other than death, the Company will transfer ownership of any such Key Man Policy to the Employee or her designee who will accept full responsibility for the payment of any premiums due following the Termination Date.


More Definitions of Key Man Policy

Key Man Policy means the life insurance policy (in form and substance satisfactory to the Agent) relating to the death or disability and made in favour of Genesys S.A. in respect of the death or disability of Xxxxxxxx Xxxxxx for a period of 5 years and for a minimum coverage amount of USD 1,000,000 and required to be delivered in accordance with Clause 22.30 (Key-man Policy) or any substituted policy or any new policy previously approved by the Agent.
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Key Man Policy means Sellers’ key man life insurance policy insuring the life of Mxxx X.
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Key Man Policy means the Individual Renewable Term Life Insurance Policy insuring Isaac Mizrahi issued by Massachusetts Mutual Life Insurance Company, Policy No. 24669790, in the face amount of $25,000,000.
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Key Man Policy means the life insurance policy on the life of Xxxxxx with a death benefit in the amount of $15,000,000 as to which Lender is the primary beneficiary.
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Key Man Policy has the meaning provided in SECTION 3.17 hereof.
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Key Man Policy has the meaning set forth in Section 2.4(a). --------------
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Key Man Policy means a key-man life assurance policy (in form and substance reasonably satisfactory to the Lender and with such insurer as the Lender may (acting reasonably) approve) taken out and maintained by the Parent or the Ultimate Parent in respect of the death or disability or critical illness of the following individuals if required by the Lender their replacements from time to time and in not less than the following respective amounts: Name of Individual Amount (€) Xxxxxxxxxx Xxxxxx 1,000,000 Xxxxx Kaskavelis 1,000,000 Xxxxxxxx Xxxxxxxxxx 1,000,000
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