D & O Policy definition

D & O Policy means any insurance policy in effect at any time on or before the Effective Date (and as such policy may be continued following the Effective Date) under which any Person carrying on an insurance business may be liable to satisfy, or to indemnify or reimburse for payments made to satisfy, part or all of a judgment rendered against, or a settlement made to resolve claims made against, or defense costs incurred by, the Debtors or any past, present or future director, officer, trustee or employee of the Debtors, including the policies issued to Accentia by XL Specialty Insurance Company (Policy Numbers ELU107905-08 and ELU107906-08) and Carolina Casualty Insurance Company (Policy Number 1853099).
D & O Policy the meaning specified in SECTION 5.10.
D & O Policy means any insurance agreement procured and owned by any of the Debtors under which any Person carrying on an insurance business may be liable to satisfy, or to indemnify or reimburse for payments made to satisfy, part or all of a judgment rendered against, or a settlement made to resolve claims made against, or defense costs incurred by, past, present or future directors and officers of the Debtors, specifically including the policy issued to U.S. Plastic Lumber Corp. by XL Specialty Insurance Company (Policy No. ELU086493-04).

Examples of D & O Policy in a sentence

  • Further, you are not releasing your rights or claims to: indemnification and defense for your former role as Chief Financial Officer of the Company or your role as an advisory consultant during the Transition Period, in each case to the extent provided in the D & O Policy; and/or your vested equity.

  • As the Riverwest case indicates, the D & O Policy may also cover claims against a Strata Corporation.

  • It would be prudent to have a D & O Policy in place to protect Council Members from liability, the cost of litigation, and frivolous claims.

  • The Company has also taken Directors’ and Officers' Liability (D & O) Policy to provide coverage against the liabilities arising on them.CREDIT RATING:-CRISIL has assigned rating of CRISIL A-/stable on Total Bank Facilities (Short Term & Long Term) vide their letter no.

  • For example, the September 4, 2007 proposal required that the Former Directors “stipulate and agree that [they] [were] liable to Plaintiffs for negligent breach of their fiduciary duties,”23 because an intentional breach would have excluded the directors from coverage under the terms of the D & O Policy.

  • As observed in Allied Digital:The Trustee’s real concern is that payment of defense costs may affect his rights as a plaintiff seeking to recover from the D & O Policy rather than as a potential defendant seeking to be protected by the D & O Policy.

  • Neborsky argues that the policy in question is a "wasting policy," and the more paid for defense costs, the less will be available to pay claims resulting from securities law infractions.The matter was heard on April 21, 2015 and thereafter taken under advisement.The D & O Policy owned by the Debtor provides $1,000,000 coverage.

  • Settlement not covered by D & O Policy: Vero Insurance Limited v Baycorp Advantage Limited 4In Baycorp the Court of Appeal of the Supreme Court of New South Wales held that an insurer was not obliged to indemnify the insured company under a D&O policy for a sum paid in settlement of proceedings against itself and its officers, but was liable for common defence costs incurred in those proceedings (despite the fact that a non-insured entity also benefited from those costs).

  • On the Effective Date, and except as otherwise expressly provided in the Modified Plan or this Confirmation Order, all Property of the Estate (including the Causes of Action, the D & O Policy, and any net operating losses) shall vest in Reorganized Biovest free and clear of any and all Liens, Debts, obligations, Claims, Cure Claims, Liabilities, Equity Interests, and all other interests of every kind and nature.

  • Tr. at 199-200; see D & O Policy §§ 3(d), (7)(a).Breaching the D & O Policy as part of a deal to give Kingsway more claims on which to sue Great American was not a trouble-free move for the Former Directors.

Related to D & O Policy

  • D&O Policy has the meaning set forth in Section 6.18(b).

  • R&W Policy means any buyer-side representations and warranties insurance policy purchased by a Buyer or an Affiliate thereof in connection with this Agreement on or before the Closing Date.

  • CSR Policy means the present Corporate Social Responsibility Policy of the Company, which covers the activities to be undertaken by the Company as specified in Schedule VII to the Act and the CSR Expenditure thereon.

  • Group Policy /”policy” means the breakdown policy as set out in this document;

  • Covered policy means a policy of commercial risk insurance, professional liability insurance or public entity insurance.

  • Policy means Related Party Transaction Policy.

  • Master Policy means a single worker’s compensation insurance policy issued by an insurer authorized to do business in this state to an employee leasing company in the name of the employee leasing company that covers more than one client of the employee leasing company.

  • SAP Policies means the operational guidelines and policies applied by SAP to provide and support the Cloud Service as incorporated in an Order Form.

  • D&O Policies has the meaning set forth in Section 8.01(e).

  • D&O Tail Policy has the meaning set forth in Section 5.8(c).

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Blanket insurance policy means a group policy covering a defined class of

  • Insurance Program or “program” shall mean a program which has been designated as a major program of PRISM under which participating members are protected against designated losses, either through joint purchase of primary or excess insurance, pooling of self-insured claims or losses, purchased insurance or any other combination as determined by the Board of Directors. The Board of Directors, the Executive Committee, or a program’s governing committee may determine applicable criteria for determining eligibility in any insurance program, as well as establishing program policies and procedures.

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • Tail Policy has the meaning set forth in Section 6.18(b).

  • Tariff Policy means a Tariff Policy adopted by the Council in terms of Section 74 of the Local Government: Municipal Systems Act 32 of 2000.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Life Insurance Policy has the meaning given in Section 6.11.

  • Reimbursement insurance policy means a policy of insurance

  • City Policies means any or all (as the context requires) of those procedures, standards and/or standard specifications, requirements, policies and the like listed in Schedule H or notified to the Supplier from time to time, as the same may be updated, modified, expanded, revised, supplemented and/or replaced from time to time by the City (as notified to the Supplier);

  • Lapsed Policy means a Policy which has not acquired the Surrender Value and where the due Premium has not been received till the expiry of the Grace Period;

  • The Policy means any insurance policy held by the Landlord for the Property or the Fixtures and Fittings.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Fuel Cost Policy means the document provided by a Market Seller to PJM and the Market Monitoring Unit in accordance with PJM Manual 15 and Operating Agreement, Schedule 2, which documents the Market Seller’s method used to price fuel for calculation of the Market Seller’s cost-based offer(s) for a generation resource.

  • Company Insurance Policies has the meaning set forth in Section 3.14.