Common use of Liability Insurance and Funding Clause in Contracts

Liability Insurance and Funding. To the extent the Corporation ------------------------------- purchases or maintains any insurance policy or policies providing directors' and officers' liability or similar insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any director of officer of the Corporation. Indemnitee's Expenses in connection with successfully obtaining any recovery under any such directors' and officers' liability insurance or similar policy shall also be indemnified by the Corporation. The Corporation may, but shall not be required to, create a trust fund, grant a security interest, or use other means (including, without limitation, procuring one or more letters of credit) to ensure the payment of such amounts as may be necessary to satisfy its obligations to provide indemnification and advance Expenses pursuant to this Agreement.

Appears in 2 contracts

Samples: Indemnity Agreement (Logility Inc), Indemnity Agreement (Millionaire Com)

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Liability Insurance and Funding. To the extent the Corporation purchases ------------------------------- purchases or maintains any insurance policy or policies providing directors' and officers' liability or similar insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any director of officer Director or Officer of the Corporation. Indemnitee's Expenses in connection with successfully obtaining any recovery under any such directors' and officers' liability insurance or similar policy shall also be indemnified by the Corporation. The Corporation may, but shall not be required to, create a trust fund, grant a security interest, interest or use other means (including, including without limitation, limitation procuring one or more letters of credit) to ensure the payment of such amounts as may be necessary to satisfy its obligations to provide indemnification and advance Expenses pursuant to this Agreement.

Appears in 1 contract

Samples: Indemnity Agreement (International Computex Inc)

Liability Insurance and Funding. To the extent the Corporation Company purchases ------------------------------- purchases or maintains any insurance policy or policies providing directors' and officers' liability or similar insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any director of officer Director or Officer of the CorporationCompany. Indemnitee's Expenses in connection with successfully obtaining any recovery under any such directors' and officers' liability insurance or similar policy shall also be indemnified by the CorporationCompany. The Corporation Company may, but shall not be required to, create a trust fund, grant a security interest, interest or use other means (including, including without limitation, limitation procuring one or more letters of credit) to ensure the payment of such amounts as may be necessary to satisfy its obligations to provide indemnification and advance Expenses pursuant to this Agreement.

Appears in 1 contract

Samples: Indemnity Agreement (Sterling Software Inc)

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Liability Insurance and Funding. To the extent the Corporation ------------------------------- purchases or maintains any insurance policy or policies providing directors' and officers' liability or similar insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any director Director of officer Officer of the Corporation. Indemnitee's Expenses in connection with successfully obtaining any recovery under any such directors' and officers' liability insurance or similar policy shall also be indemnified by the Corporation. The Corporation may, but shall not be required to, create a trust fund, grant a security interest, interest or use other means (including, including without limitation, limitation procuring one or more letters of credit) to ensure the payment of such amounts as may be necessary to satisfy its obligations to provide indemnification and advance Expenses pursuant to this Agreement.

Appears in 1 contract

Samples: Indemnity Agreement (International Computex Inc)

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