Assignment of Life Insurance. Upon any termination of the Executive's employment hereunder, the Partnership and the Company shall, at Executive's option (exercisable at any time during the period commencing upon the termination of his employment and ending 90 days thereafter), transfer the life insurance policy described in such Section 11(b) to Executive, for no consideration. In addition, notwithstanding any provision of the Partnership's Executive Deferred Compensation Plan to the contrary, all amounts in the Executive's account under such Plan (if there is such a Plan) shall be immediately payable to him.
Assignment of Life Insurance. Policy(ies): An assignment of life insurance policy(ies) as collateral in the approximate amount of $2,900,000 by an insurance company acceptable to the Bank. Additional Documents: Receipt by the Bank of other approvals, opinions, or documents as the Bank may reasonably request.
Assignment of Life Insurance. Upon execution of this Employment Agreement, the Employer shall assign and transfer to the Employee ownership of that certain USAA Life Insurance term policy in the amount of $1 million and the Employee shall be responsible for paying all future premiums that are due thereunder.
Assignment of Life Insurance. The BORROWERS shall deliver and cause to be assigned to the LENDER an original life insurance policy acceptable to the LENDER on the life of each of Xxxxxx X. Xxxxx and W. Xxxxx Xxxxxx in an amount not less than Five Hundred Thousand Dollars ($500,000.00) issued by an insurer acceptable to the LENDER, which policies and assignments are to be furnished after CLOSING pursuant to the Post Closing Agreement of even date herewith from the BORROWERS to the LENDER.
Assignment of Life Insurance. On or prior to the Closing Date, the Company shall assign to Mr. Jethren Phillips the Company's New York Life whole life insurance xxxxxx (xxxxxxxxx xny cash surrender value) on Mr. Phillips' life.
Assignment of Life Insurance. The Assignment of Life Insurance duly executed by Borrower; (l) Initial Borrowing Base Report. A Borrowing Base Report dated December , 1992, properly completed and executed by an authorized officer of Borrower reflecting the information required thereby as of , 1992; (m)
Assignment of Life Insurance. Lender being furnished with evidence of a life insurance policy in the face value of at least FIVE HUNDRED THOUSAND DOLLARS ($500,000.00) which shall designate the Lender as beneficiary, as its interest may appear, shall provide that the Lender shall receive at least thirty (30) days' prior notice of any cancellation or modification of the insurance and shall be otherwise assigned to Lender on forms approved by Lender.
Assignment of Life Insurance. Bregman covenants that following his execution of this Agreement, Brexxxx xxll reasonably assist the Corporation in effecting Bregman's xxxxxxment to the Corporation of Bregman's 20% beneficiary xxxxxxxx in the life insurance policy currexxxx xxxxtained by the Corporation covering Bregman's life.
Assignment of Life Insurance. Lender hereby releases the Assignment of Life Insurance dated November 27, 2007 executed by Borrower in favor of Lender as to Xxxxx Xxxxxxx.
Assignment of Life Insurance. Borrower covenants and agrees that it shall deliver to Lender within thirty (30) days after the date hereof, the Assignment of Life Insurance and the original life insurance policy assigned to Lender pursuant to the Assignment of Life Insurance.
