Director & Officer Liability Insurance. The Company shall obtain Director & Officer Liability Insurance of a type that is usual and customary for businesses similar to Company.
Director & Officer Liability Insurance. Within ninety (90) days after the date hereof, the Company shall procure and thereafter maintain so long as the Board of Directors deems commercially reasonable, a customary Director and Officer liability insurance policy in an amount determined from time to time by the Board of Directors.
Director & Officer Liability Insurance. The Company agrees that upon the Effective Date, Employee shall be eligible to participate in the Company director and officer liability insurance plan (the “Company D&O Plan”), if such Company D&O Plan is in-place. In the event that a Company D&O Plan is in-place, the Company agrees to pay the cost of an individual policy for Employee. In the event that a Company D&O Plan is not in place, the Company agrees to pay Employee a fee of $1,000 per month for each month, partial or otherwise, that a Company D&O Plan is not in place, in addition to indemnification of Employee, as described below.
Director & Officer Liability Insurance. (a) The Company shall purchase, and maintain at all times, director and officer liability insurance (with the amount of the coverage determined by the Board) for the benefit of all Directors and officers of the Company.
Director & Officer Liability Insurance. At any time that a representative of the Purchaser has been elected a member of the Board of Directors in accordance with this Section 7.1, the Company agrees to have in effect, at the expense of the Company, a director and officer liability insurance policy for the benefit of the Company and such representative with such deductibles and policy limits as shall be reasonably acceptable to the Purchaser.
Director & Officer Liability Insurance. Buyer and Seller shall obtain Director and Officer Liability Insurance covering a period including the effective date of this Agreement and Plan of Merger.
Director & Officer Liability Insurance. The Company will maintain at all times, its current (or improved if decided by the Board) director and officer liability insurance.
Director & Officer Liability Insurance. As soon as reasonably practicable following the date of this Agreement, the Company shall obtain and continue in effect a directors’ and officers’ liability insurance policy on terms reasonably acceptable to the Board of Directors.
Director & Officer Liability Insurance. At any time that a representative of Guardian has been elected a member of the Board of Directors in accordance with Section 5.1(a), the Company agrees to have in effect, at the expense of the Company, a director and officer liability insurance policy for the benefit of the Company and such representative with such deductibles and policy limits as shall be reasonably acceptable to Guardian.
Director & Officer Liability Insurance. Mirant shall not knowingly take any action to negatively affect, diminish or limit Executive’s status as an “Insured Person” for purposes of Section II, J of the Management Liability and Company Reimbursement Insurance Policy (the “D&O Policy”). As such, Executive shall be afforded the protection of a former director and officer, subject to such limitations, exclusions or exceptions as shall generally apply to similarly situated persons covered under the D&O Policy.
