Derivative Investigation definition
Derivative Investigation means after receipt by any Insured of a Claim that is either a derivative lawsuit or a Derivative Demand, any investigation conducted by the Company, or on behalf of the Company by its board of directors (or the equivalent management body) or any committee of the board of directors (or equivalent management body), as to how the Organization should respond.
Derivative Investigation means any investigation conducted by the Organization, or on behalf of the Organization by its board of directors (or the equivalent management body) or any committee of the board of directors (or equivalent management body), after receipt by an Insured of a Claim that is a lawsuit brought derivatively on behalf of an Organization by a securityholder of such Organization against an Executive or a Securityholder Derivative Demand to determine how the Organization should respond.
Examples of Derivative Investigation in a sentence
Derivative Investigation Expenses do not include regular or overtime wages, salaries, or fees of a Director or Officer or Employee.
The Company’s maximum liability under Insuring Agreement B for all Derivative Investigation Expenses for all Security Holder Derivative Demands first made during the Policy Period is the Derivative Investigation Expense Limit of Liability as set forth in ITEM 5 of the Declarations, which is part of, and not in addition to, the Mutual Fund Liability Coverage Limit of Liability.