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.
Derivative Demand means a written demand by one or more security holders of a Company, without the assistance, participation or solicitation of any Executive, upon the board of directors (or equivalent management body) of such Company requesting that it file on behalf of the Company a civil proceeding in a court of law against any Executive for a Wrongful Act.
Derivative Demand means a written demand by shareholders upon the board of directors (or equivalent management body) of a Company asking it to bring, on behalf of the Company, a civil proceeding in a court of law against any Insured Person of the Company for a Wrongful Act of such Insured Person.
Examples of Derivative Demand in a sentence
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.
More Definitions of Derivative Demand
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 Item4. of the Declarations.
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 a written demand by any securityholder of the Insured Entity upon the board of directors (or its equivalent) of such Insured Entity to commence a civil action on behalf of such Insured Entity against an Executive Officer or Advisory Board Member of the Insured Entity for a Wrongful Act.
Derivative Demand means a written demand by one or more shareholders, members or equity owners of the Company upon the Company’s Board of Directors (or equivalent management body), to bring a civil proceeding against any Executive of the Company for a Wrongful Act.
Derivative Demand means a written demand by one or more shareholders of the Insured Organization upon its board of Directors (or equivalent governing body) to bring a civil proceeding in a court of law against an Executive for a Wrongful Act.
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.