Exemption from Maintenance of Insurance. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain D&O Insurance if the Company determines in good faith that insurance is not reasonably available, the premium costs for insurance are disproportionate to the amount of coverage provided, the coverage provided by insurance is so limited by exclusions that it provides an insufficient benefit, or the Indemnitee is covered by similar insurance maintained by a subsidiary of the Company.
Appears in 5 contracts
Samples: Indemnity Agreement (Vicuron Pharmaceuticals Inc), Indemnity Agreement (Vicuron Pharmaceuticals Inc), Indemnity Agreement (Luminent Mortgage Capital Inc)
Exemption from Maintenance of Insurance. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain D&O Insurance if the Company determines in good faith its sole discretion that insurance is not reasonably available, the premium costs for insurance are are, in its opinion, disproportionate to the amount of coverage provided, the coverage provided by insurance is so limited by exclusions that it provides an insufficient benefit, or the Indemnitee is covered by similar insurance maintained by a subsidiary of the Company.
Appears in 2 contracts
Samples: Indemnity Agreement (Communication Telesystems International), Form of Indemnity Agreement (Procom Technology Inc)
Exemption from Maintenance of Insurance. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain D&O Insurance if the Company determines in good faith that insurance is not reasonably available, the premium costs for insurance are disproportionate to the amount of coverage provided, the coverage provided by insurance is so limited by exclusions that it provides an insufficient benefit, or the Indemnitee is covered by similar insurance maintained by a subsidiary of the Company.
Appears in 2 contracts
Samples: Resignation, Release and Indemnity Agreement (Senetek PLC /Eng/), Resignation, Release and Indemnity Agreement (Senetek PLC /Eng/)
Exemption from Maintenance of Insurance. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain D&O Insurance if the Company determines in good faith that insurance is not reasonably available, the premium costs for insurance are disproportionate to the amount of coverage provided, the coverage provided by insurance is so limited by exclusions that it provides an insufficient benefit, or the Indemnitee is covered by similar insurance maintained by a subsidiary of the Company.are
Appears in 1 contract
