“Eligible Life Insurance Policies” shall mean the Life Insurance Policies owned by Borrowers and which are acceptable to Administrative Agent and that have a Cash Surrender Value acceptable to Administrative Agent. In general, Eligible Life Insurance Policies shall not include:
“Life Insurance Policies” shall mean the whole life insurance policies issued by the Life Insurance Companies, as may be submitted by Borrowers to Administrative Agent from time to time hereunder which are acceptable to Administrative Agent for consideration to become an Eligible Life Insurance Policy.
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