Directors and Officers Coverage. TNCI shall have purchased Directors and Officers liability insurance policies in favor of the existing directors and officers and the officers and directors set forth in Paragraph 16 in amounts and on terms reasonably acceptable to IFT, but in any event with limits not less than Fifteen Million Dollars ($15,000,000), to be effective immediately following the Closing Date and with an insurer reasonably acceptable to IFT.
Appears in 4 contracts
Samples: Asset Purchase and Sale Agreement (Network Connection Inc), Asset Purchase and Sale Agreement (Interactive Flight Technologies Inc), Asset Purchase and Sale Agreement (Network Connection Inc)
