Common use of Maintenance of Liability Insurance Clause in Contracts

Maintenance of Liability Insurance. The Corporation hereby covenants and agrees to and with Indemnitee that, so long as Indemnitee shall continue to serve as an Agent and thereafter so long as Indemnitee shall be subject to any claim or Proceeding by reason of the fact that Indemnitee was an Agent or in connection with Indemnitee's acts as such an Agent, the Corporation, subject to Section 2(b), shall obtain and maintain in full force and effect directors' and officers' liability insurance ("D&O Insurance") in reasonable amounts from established and reputable insurers. In all policies of D&O Insurance, Indemnitee shall be named as an insured.

Appears in 2 contracts

Samples: Indemnification Agreement (Novamed Eyecare Inc), Indemnification Agreement (Career Education Corp)

AutoNDA by SimpleDocs

Maintenance of Liability Insurance. The Corporation hereby covenants and agrees to and with Indemnitee that, so long as Indemnitee shall continue to serve as an Agent and thereafter so long as Indemnitee shall be subject to any claim or Proceeding by reason of the fact that Indemnitee was an Agent or in connection with Indemnitee's acts as such an Agent, the Corporation, subject to Section 2(b), Corporation shall obtain and maintain in full force and effect directors' and officers' liability insurance ("D&O InsuranceINSURANCE") in reasonable amounts from established and reputable insurers. In all policies of D&O Insurance, Indemnitee shall be named as an insured.

Appears in 2 contracts

Samples: Form of Indemnification Agreement (Natural Nutrition Group Inc), Form of Indemnification Agreement (Nanophase Technologies Corporation)

Maintenance of Liability Insurance. The Corporation hereby covenants and agrees to and with Indemnitee that, so long as Indemnitee shall continue to serve as an Agent and thereafter so long as Indemnitee shall be subject to any claim or Proceeding by reason of the fact that Indemnitee was an Agent or in connection with Indemnitee's acts as such an Agent, the Corporation, subject to Section 2(b), Corporation shall obtain and maintain in full force and effect directors' and officers' liability insurance ("D&O Insurance") in reasonable amounts from established and reputable insurers. In all policies of D&O Insurance, Indemnitee shall be named as an insured.

Appears in 1 contract

Samples: Indemnification Agreement (Diversified Food Group Inc)

AutoNDA by SimpleDocs

Maintenance of Liability Insurance. (a) D&O Insurance. The Corporation hereby covenants and agrees to and ------------- with Indemnitee that, so long as Indemnitee shall continue to serve as an Agent and thereafter so long as Indemnitee shall be subject to any claim or Proceeding by reason of the fact that Indemnitee was an Agent or in connection with Indemnitee's acts as such an Agent, the Corporation, subject to Section 2(b), shall obtain and maintain in full force and effect directors' and officers' liability insurance ("D&O Insurance") in reasonable amounts from established and reputable insurers. In all policies of D&O Insurance, Indemnitee shall be named as an insured.

Appears in 1 contract

Samples: Indemnification Agreement (Web Street Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.