Interests in the Policy Sample Clauses

The "Interests in the Policy" clause defines whose interests are recognized and protected under the insurance policy. Typically, this clause specifies whether parties other than the named insured, such as mortgagees, lienholders, or additional insureds, have rights to claim benefits or receive payments under the policy. For example, if a property is mortgaged, the lender's interest may be noted so they are compensated in the event of a loss. The core function of this clause is to clarify which parties have a legal or financial stake in the policy, thereby preventing disputes over entitlement to insurance proceeds.
Interests in the Policy. The Policy that is the subject of this Split Dollar Agreement is Security Life of Denver Insurance Company (the "Insurer") Policy Number 610014591 on the life of the Owner (the "Policy"). The Employer's interest in the cash value and death benefits of the Policy (the "Employer's Interest") as of any date, shall be equal to the Unamortized Premium Payment (as defined herein) as of such date with interest accumulated at a rate of 4.5% per annum. The Owner's interest in the cash value and death benefits of the Policy (the "Owner's Interest") shall be equal to the remaining cash value and death benefits of the Policy, if any, in excess of the Employer's Interest, reduced by any distributions made to the Owner prior to such date.
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Interests in the Policy. The Policy that is the subject of this Split Dollar Agreement is ________________ (the "Insurer") Policy Number ______________ on the life of the Owner (the "Policy"). The Employer's interest in the cash value and death benefits of the Policy (the "Employer's Interest") as of any date, shall be equal to the Unamortized Premium Payment (as defined herein) as of such date accumulated at interest at a rate of 4.5% per annum. The Owner's interest in the cash value and death benefits of the Policy (the "Owner's Interest") shall be equal to the remaining cash value and death benefits of the Policy, if any, in excess of the Employer's Interest, reduced by any distributions made to the Owner prior to such date.
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Interests in the Policy. The Policy that is the subject of this Split Dollar Agreement is Security Life of Denver Insurance Company (the "Insurer") Policy Number 610014591 on the life of the Owner (the "Policy"). The Employer's interest in the cash value and death benefits of the Policy (the "Employer's Interest") as of any date, shall be equal to the Unamortized Premium Payment (as defined herein) as of such date with interest accumulated at a rate of 4.5% per annum. The Owner's interest in the cash value and death benefits of
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Interests in the Policy. The Policy, which is the subject of this Split Dollar Agreement, is ____________________ (the "Insurer") Policy Number ____________________ on the life of the Employee. The Bank's interest in the cash surrender value of the Policy (the "Bank's Interest") shall be equal to the total amount of the premium payments made on the Policy (including any contributions to any trust in the event of a Change in Control as defined below) accumulated at interest at a rate of 3.6% per annum. The Employee's interest in the cash value of the Policy (the "Employee's Interest") shall be equal to the remaining cash surrender value of the Policy, if any, in excess of the Bank's Interest.
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Interests in the Policy. The parties acknowledge and agree that immediately prior to the execution of the Amendment, the Employer’s Interest in the Policy was $375,823.43. By virtue of the Execution of this Amendment, the Employer’s Interest is hereby reduced to $133,107.93.
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Related to Interests in the Policy

  • Equity Interests and Ownership The Equity Interests of each of Borrower and its Subsidiaries have been duly authorized and validly issued and are fully paid and non-assessable. Except as set forth on Schedule 4.2, as of the date hereof, there is no existing option, warrant, call, right, commitment or other agreement to which Borrower or any of its Subsidiaries is a party requiring, and there is no membership interest or other Equity Interests of Borrower or any of its Subsidiaries outstanding which upon conversion or exchange would require, the issuance by Borrower or any of its Subsidiaries of any additional membership interests or other Equity Interests of Borrower or any of its Subsidiaries or other Securities convertible into, exchangeable for or evidencing the right to subscribe for or purchase a membership interest or other Equity Interests of Borrower or any of its Subsidiaries. Schedule 4.2 correctly sets forth the ownership interest of Borrower and each of its Subsidiaries as of the Third Restatement Date.

  • Perfection of Security Interests in the Collateral The Collateral Documents create valid security interests in, and Liens on, the Collateral purported to be covered thereby, which security interests and Liens are currently perfected security interests and Liens, prior to all other Liens other than Permitted Liens.

  • Maintenance of Security Interests in Financed Vehicles The Servicer shall, in accordance with its customary servicing procedures, take such steps as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle. The Servicer is hereby authorized to take such steps as are necessary to re-perfect such security interest on behalf of the Issuing Entity and the Indenture Trustee in the event of the relocation of a Financed Vehicle or for any other reason.

  • Investments in the Trust Investments may be accepted by the Trust from such Persons, at such times, on such terms, and for such consideration as the Trustees from time to time may authorize. Each investment shall be credited to the Shareholder's account in the form of full and fractional Shares of the Trust, in such Series (or class) as the purchaser shall select, at the net asset value per Share next determined for such Series (or class) after receipt of the investment; provided, however, that the Trustees may, in their sole discretion, impose a sales charge or reimbursement fee upon investments in the Trust.

  • Security Interests in Collateral To secure their Obligations under this Agreement and the other Loan Documents, the Loan Parties shall grant to the Collateral Agent, for its benefit and the ratable benefit of the other Secured Parties, a first-priority security interest in all of the Collateral pursuant to the Security Documents.