Derivative Costs definition

Derivative Costs means the reasonable and necessary fees, costs, charges, or expenses incurred by the Company, its board of directors or any committee of its board of directors, solely in response to a Derivative Demand and do not include any settlements, judgments or damages, nor any compensation or benefits of any Insured Persons, or any overhead expenses of the Company. Derivative Costs shall be reimbursed by the Insurer within sixty (60) days after the Company provides written notice to the Insurer of its final decision to bring, or not to bring, a civil proceeding against an Executive.
View Source
Derivative Costs means the reasonable and necessary fees, costs, charges, or expenses incurred by the Company, its board of directors or any committee of its board of directors, solely in response to a Derivative Demand and do not include any settlements, judgments or damages, nor any compensation or benefits of any Insured Persons, or any overhead expenses of the Company. Derivative Costs shall be reimbursed by the Insurer sixty (60) days after the Company provides written notice to the Insurer of its final decision not to bring a civil proceeding against an Executive.
View Source
Derivative Costs means reasonable and necessary expenses incurred in the investigation and evaluation of a Derivative Demand, provided that Derivative Costs shall not include compensation, benefit expenses, or any of the Insured’s overhead.
View Source

Examples of Derivative Costs in a sentence

  • We will pay on behalf of the Insured any Derivative Costs the Insured becomes legally obligated to pay as a result of a Derivative Demand first received by the Insured during the Policy Period or any applicable Extended Reporting Period and reported to us pursuant to the terms of this Policy, for a Wrongful Act.

  • Our maximum liability for all Derivative Costs covered under this Insuring Agreement shall be the respective sublimit of liability set forth in the Declarations, which shall be part of and not in addition to the Coverage Part Limit of Liability.

Related to Derivative Costs

  • Indirect Costs has the same meaning as in 44 Ill. Admin. Code 7000.

  • Administrative Costs means the costs that are used to pay for employee salaries not directly related to care planning and supports coordination and administrative expenses necessary to operate each single point of entry agency.

  • Derivative Interest means any derivative securities (as defined under Rule 16a-1 under the Exchange Act) that increase in value as the value of the underlying equity increases, including, but not limited to, a long convertible security, a long call option and a short put option position, in each case, regardless of whether (x) such interest conveys any voting rights in such security, (y) such interest is required to be, or is capable of being, settled through delivery of such security or (z) transactions hedge the economic effect of such interest.