Fiduciary Liability Insurance. Treatment of claims covered by fiduciary liability insurance shall be governed by Section 5.1 of the Separation and Distribution Agreement.
Fiduciary Liability Insurance. In the event that the Manager makes any employee benefit plan available to the Property Staff, fiduciary liability insurance in an amount equal to at least $1,000,000 with respect to claims alleging breach of fiduciary obligations under the Employment Retirement Income Security Act of 1974 and any acts, errors or omissions committed in connection with the administration of any employee benefit plans for the Property Staff;
Fiduciary Liability Insurance. Fiduciary liability insurance in an amount equal to at least $1,000,000 with respect to claims alleging breach of fiduciary obligations under the Employment Retirement Income Security Act of 1974 and any acts, errors or omissions committed in connection with the administration of any employee benefit plans made available to the Non-Property Staff;
Fiduciary Liability Insurance. Fiduciary liability insurance covering all of Xxxxxx’s fiduciary responsibilities.
Fiduciary Liability Insurance. The Board may buy fiduciary liability insurance or errors and omissions insurance. However, all such insurance shall provide that proceeds shall be payable to the Trust and shall contain express provisions reserving to the insurer executing the same the full right of recourse against all parties or other individuals whose errors, acts, omissions, or breaches may obligate such insurer to make payments to the Trust. MERS may buy fiduciary liability insurance covering any fiduciary of the Program or Trust, including the Board, and MERS shall pay the premiums [therefor] from the Trust. The Board shall indemnify to the extent authorized or permitted by law (and consistent with the Plan’s tax status) any person, and such person’s heirs and legal representatives, who is made or threatened to be made a party to any action, suit or proceeding (whether civil, criminal, administrative or investigative) whether brought by or in the right of the Retirement Board or System or otherwise, by reason of the fact that such person is or was a trustee, director, officer, employee or agent of the Retirement Board or System or such person served on any formally constituted advisory body or committee of the Retirement Board. There is no duty to indemnify where such person is judicially determined to have incurred liability due to fraud, gross neglect, or malfeasance in the exercise and performance of his/her duties.
Fiduciary Liability Insurance. CONSULTANT shall obtain and maintain at all times during the prosecution of the work under this Contract fiduciary liability insurance. Limits of liability shall be $1,000,000.00 per claim and $2,000,000 aggregate. CONSULTANT must maintain this policy for a period of two (2) years after the completion of the project or shall purchase the extended reporting period or “tail” coverage insurance providing equivalent coverage for the same period of time. Fiduciary liability may be written on a separate policy or as part of the Professional Liability Insurance.
Fiduciary Liability Insurance. Fiduciary liability insurance covering all of Lessee’s fiduciary responsibilities.
Fiduciary Liability Insurance. B. Owner shall procure and maintain in full force and effect at Facility and Owner’s expense, the following insurance protecting Owner and Capital and their officers and employees:
Fiduciary Liability Insurance. For a period of six years after the Effective Time, the Surviving Corporation shall cause to be maintained in effect either (a) the current policy of liability insurance maintained by the Company for Indemnified Parties and other Covered Employees (as hereinafter defined) who have served as fiduciaries under or with respect to any Employee Plan at the request of the Company (provided that Buyer or the Surviving Corporation may substitute therefor policies of at least the same coverage and amounts containing terms and conditions which are no less advantageous in any material respects to such Indemnified Parties and other Covered Employees thereunder) covering such Indemnified Parties and other Covered Employees with respect to claims arising from facts or events which occurred at or before the Effective Time; provided, however, that in no event shall the Surviving Corporation be required to expend pursuant to this Section 7.03 more than an amount per year equal to 150% of the current annual premium (which current annual premium for the policy year ending December 31, 2001 the Company represents and warrants to be approximately $17,000 in the aggregate) paid by the Company for such existing insurance coverage (the "Fiduciary Cap"); and provided, further, that if equivalent coverage cannot be obtained, or can be obtained only by paying an annual premium in excess of the Fiduciary Cap, the Surviving Corporation shall only be required to obtain as much coverage as can be obtained by paying an annual premium equal to the Fiduciary Cap, or (b) a run-off (i.e., "tail") policy or endorsement with respect to the current policy of liability insurance maintained by the Company for Indemnified Parties and other Covered Employees who have served as fiduciaries under or with respect to any Employee Plan at the request of the Company covering such Indemnified Parties and other Covered Employees with respect to claims asserted within six years after the Effective Time arising from facts or events which occurred at or before the Effective Time. As used herein, "Covered Employees" means individuals who are employees of the Company or any of its subsidiaries immediately prior to the Effective Time.
Fiduciary Liability Insurance. The Company shall ----------------------------- maintain, for a period of 6 years following the Closing Date, a fiduciary liability "tail" insurance policy that will provide coverage with respect to acts or omissions of the Company, its employees or agents, in providing services to ERISA Client Plans, at a level that is equivalent to the fiduciary liability insurance coverage maintained prior to the Closing Date, and shall provide a copy of the policy to the Buyer. The Company shall take all steps necessary to ensure that the Buyer is designated as an additional insured under the policy. Buyer shall reimburse or pay the Company, Xxxxxx or the Shareholder, as applicable (within thirty (30) days after the Buyer's receipt of written notification from the Company, Xxxxxx or the Shareholder, that the premium on the policy has been paid), fifty percent of the annual cost of maintaining such "tail" policy for each of the 6 years during which it is maintained (which annual cost, as of the Closing Date, is estimated to be approximately $1,500).
