Covered Act definition

Covered Act means any breach of duty, neglect, error, misstatement, misleading statement, omission or other act done or wrongfully attempted by Officer or any of the foregoing alleged by any claimant or any claim against Officer by reason of Officer's serving as or being a director, officer, employee, or agent of the Company, or by reason of Officer's serving at the request of the Company as a director, officer, partner, member, trustee, employee or agent of another corporation, partnership, joint venture, trust or other enterprise.

Covered Act means any act or omission of the Indemnified Party in his or her capacity as a director, officer, employee, agent, fiduciary or consultant of the Company alleged by any claimant or any claim against Indemnified Party by reason of him or her serving in such a capacity, or by reason of Indemnified Party serving, at the request of the Company, in such capacity with another corporation, partnership, employee benefit plan, trust or other enterprise, in all cases, whether such alleged act or omission occurred before or after the date of this Agreement.

Covered Act means any breach of duty, neglect, error, misstatement, misleading statement, omission or other act done or wrongfully attempted by Executive in connection with his services as an officer, director, employee, trustee, agent or fiduciary of the Company, or any event or occurrence related to the fact that Executive is or was a director, officer, employee, agent or fiduciary of the Company or is or was serving at the request of the Company as a director, officer, employee, trustee, agent or fiduciary of another corporation, partnership, joint venture, trust or other entity, or by reason of anything done or not done by Executive in such capacities or any of the foregoing alleged by any claimant or any claim against Executive solely by reason of him being a director or officer of the company.

Examples of Covered Act in a sentence

• The Company shall indemnify Indemnified Party up to the Covered Amount and shall advance any and all Expenses to Indemnified Party in connection with any Proceeding or any Covered Act, subject, in each case, to the further provisions of this Agreement.

• Expiration or termination of this Trust shall operate prospectively only, so that all provisions of this Agreement shall remain in full force and effect as to any Demand asserted prior to the effective date of expiration or termination relating to a Covered Act that occurs prior to the effective date of expiration or termination.

• The Beneficiaries under this Trust shall be indemnified for any Losses, Expenses or Fines that result from a Claim based on a Covered Act asserted while this Trust is in effect without regard to whether the Covered Act occurred on, before or after the establishment of this Trust.

• The Beneficiaries (as defined below) under this Trust shall be indemnified for any Losses, Expenses or Fines that result from a Claim based on a Covered Act asserted while this Trust is in effect without regard to whether the Covered Act occurred on, before or after the establishment of this Trust.

• In the event of a proposed termination prior to the expiration of the term of this Trust, Beneficiaries may assert a Demand if, in such Beneficiaries’ good faith judgment, there is a reasonable likelihood that following such proposed termination, a Claim will be asserted arising out of a Covered Act that occurred before the effective date of such termination.

More Definitions of Covered Act

Covered Act means any act or omission by the Indemnified Person in the Indemnified Person's official capacity with the Parish and while serving as such or while serving at the request of the Parish as a member of the governing body, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise.

Covered Act means any act or omission (including without limitation any breach of duty, neglect, error, misstatement, misleading statement, or otherwise, or appearing as or preparing to be a witness) by Indemnitee, and any Claim against Indemnitee, by reason of the fact that Indemnitee is or was a director or officer of the Company, or of any subsidiary or division, or is or was serving at the request of the Company as a director, officer, partner, trustee, employee, or agent of another corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise.

Covered Act means any act or omission of an Indemnified Person in the Indemnified Person's official capacity with the Corporation and while serving as such or while serving at the request of the Corporation as a member of the governing body, officer, employee or agent of another corporation, including, but not limited to corporations which are subsidiaries or affiliates of the Corporation, partnership, joint venture, trust, other enterprise or employee benefit plan.

Covered Act means any act or omission (including, without limitation, any alleged breach of duty, neglect, error, misstatement, misleading statement, or otherwise, or appearing as or preparing to be a witness) by a Beneficiary, and any Claim against such Beneficiary, by reason of the fact that Beneficiary (i) is or was an Officer of Grantor, (ii) is or was an executive officer “Beneficiary” under the 1993 Trust, or (iii) is or was an Officer of Grantor or executive officer “Beneficiary” under the 1993 Trust and is or was serving at the request of Grantor as a director, officer, partner, trustee, fiduciary, employee, or agent of another corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise.

Covered Act means any act or omission (including, without limitation, any alleged breach of duty, neglect, error, misstatement, misleading statement, or otherwise, or appearing as or preparing to be a witness) by a Beneficiary, and any Claim against such Beneficiary, by reason of the fact that Beneficiary (a) is or was an Officer of Grantor, (b) is or was an executive officer “Beneficiary” under the 1993 Trust, or (c) is or was an Officer of Grantor or executive officer “Beneficiary” under the 1993 Trust and is or was serving at the request of Grantor as a director, officer, partner, trustee, fiduciary, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise.

Covered Act means (i) any actual or alleged action taken or attempted by Indemnitee (including, without limitation, any breach of duty, neglect, error, misstatement, or misleading statement) (a) in his capacity as, or otherwise by reason of, or arising out of his being, a director, officer, employee or other agent of the Company or any of its subsidiaries, or (b) by reason of the fact he is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise; or (ii) any inaction or omission on Indemnitee's part while acting in any of the foregoing capacities. For purposes solely of this Agreement, it shall be conclusively deemed between the parties that the Indemnitee is serving at the request of the Company whenever such director serves as an officer, director, employee or other agent of any business entity controlling, controlled by or under common control with the Company.

Covered Act means any act or omission of an Indemnified Person in the Indemnified Person’s official capacity with the Corporation.