Derivative Demand definition

Derivative Demand means a written demand by one or more owners of voting securities of the Insured Organization upon the board of directors of the Insured Organization to bring a civil proceeding in a court of law against any of the Insured Persons for a Wrongful Act.

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Derivative Demand means any written demand by any security holders of an Insured Entity, in their capacity as such, upon the board of directors or managers of such Insured Entity to bring a civil proceeding against a Manager for a Wrongful Act of such Manager if such demand is made without the assistance, participation or solicitation of any Manager. A Derivative Demand shall be deemed commenced by the receipt of such demand.

Derivative Demand means a written demand by one or more shareholders of the Company upon the Company’s Board of Directors, to bring a civil proceeding on behalf of the Company against an Executive for a Wrongful Act.

Examples of Derivative Demand in a sentence

• The Insurer shall pay on behalf of the Company the Derivative Costs incurred by the Company in response to a Derivative Demand first made during the Policy Period (or Discovery Period, if applicable) for any Wrongful Act of any Executive, and reported to the Insurer in accordance with Section V.

• The maximum liability of the Insurer for all Derivative Demand Investigation Costs shall be the amount shown on the Declarations.

• Inland American also received a letter from another stockholder that fully adopts and joins in the first Derivative Demand, but makes no additional demands on Inland American to perform investigation or pursue claims.

• The Insurer shall pay Investigation Costs on behalf of an Insured Entity that such Insured Entity incurs resulting from a Derivative Demand first made during the Policy Period or Extended Reporting Period, if applicable.

• However, any Loss, Voluntary Program Loss or Securityholder Derivative Demand Evaluation Costs paid under any Liability Coverage Part shall not exceed the Maximum Aggregate Limit of Liability set forth in Item 2 of the Declarations of such Coverage Part.

More Definitions of Derivative Demand

Derivative Demand means a written demand by any member of an Insured Organization, in such member’s capacity as such, upon the board of directors or managers of such Insured Organization to bring a civil proceeding on behalf of an Insured Organization against an Insured Person for a Wrongful Act of such Insured Person if such demand is made without the assistance, participation or solicitation of any Executive. A Derivative Demand shall be deemed commenced by the receipt by the board of directors or managers of such demand.

Derivative Demand means a written demand by shareholders or creditors upon the board of directors (or equivalent management body) of a Company requesting that it file, on behalf of the Company, a civil proceeding in a court of law against any Executive of the Company for a Wrongful Act of such Executive in order to obtain relief from damages arising out of such Wrongful Acts.

Derivative Demand means any written demand by any security holder of a REIT, in their capacity as such, upon the board of directors or other governing board of such REIT to bring a civil proceeding against an Insured Person for a Wrongful Act.

Derivative Demand means a written demand by one or more owners or directors of the Insured Organization to bring a civil proceeding in a court of law against any of the Insured Persons for a Wrongful Act, subject to the sublimit specified in Item

Derivative Demand means a written demand by one or more shareholders of the Company upon the Company’s board of directors to bring a civil proceeding on behalf of the Company against any Executive for a Wrongful Act.

Derivative Demand means a written notice to the "Named Insured", an "outside organization" or the "directors" of either, as described in section 251 (2) (a) of the Canada Not-for-profit Corporations Act, of a complainant’s intention to apply to a court under section 251 of the Canada Not-for-profit Corporations Act for leave to: a. bring an action in the name of the "Named Insured" or "outside organization"; or b. intervene in an action to which the "Named Insured" or "outside organization" is a party for the purpose of defending, discontinuing or prosecuting such action.

Derivative Demand means any written demand by any Complainant upon the board of directors (or equivalent management body) of the Insured Organization to commence a civil action on behalf of the Insured Organization against any Director and Officer for any wrongdoing on the part of such Director and Officer, or the commencement of any such civil action by the Complainant or the Insured Organization in the event no prior written demand was made.