Common use of Continuation of D&O Insurance Clause in Contracts

Continuation of D&O Insurance. For six years after the Effective Time, Parent or the Surviving Corporation shall maintain officers' and directors' liability insurance covering the persons who are presently covered by the Company's officers' and directors' liability insurance policies (copies of which have heretofore been delivered to Parent) with respect to actions and omissions occurring prior to the Effective Time, on terms which are not materially less favorable, in the aggregate, than the terms of such current insurance in effect for the Company on the date hereof.

Appears in 2 contracts

Samples: Merger Agreement (Bastion Capital Fund Lp), Merger Agreement (Telemundo Holding Inc)

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Continuation of D&O Insurance. For six years after the ----------------------------- Effective Time, Parent or the Surviving Corporation shall maintain officers' and directors' liability insurance covering the persons who are presently covered by the Company's officers' and directors' liability insurance policies (copies of which have heretofore been delivered to Parent) with respect to actions and omissions occurring prior to the Effective Time, on terms which are not materially less favorable, in the aggregate, than the terms of such current insurance in effect for the Company on the date hereof.

Appears in 1 contract

Samples: Merger Agreement (Telemundo Group Inc)

Continuation of D&O Insurance. For six years after the ----------------------------- Effective Time, Parent or the Surviving Corporation shall maintain officers' and directors' liability insurance covering the persons who are presently covered by the Company's officers' and directors' liability insurance policies (copies of which have heretofore been delivered to Parent) with respect to actions and omissions occurring prior to the Effective Time, on terms which are not materially less favorable, in the aggregate, favorable than the terms of such current insurance in effect for the Company on the date hereof.

Appears in 1 contract

Samples: Merger Agreement (Ne Holdco Corp)

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Continuation of D&O Insurance. For six years after the ------------------------------- Effective Time, Parent or the Surviving Corporation shall maintain officers' and directors' liability insurance covering the persons who are presently covered by the Company's officers' and directors' liability insurance policies (copies of which have heretofore been delivered to Parent) with respect to actions and omissions occurring prior to the Effective Time, on terms which are not materially less favorable, in the aggregate, than the terms of such current insurance in effect for the Company on the date hereof.

Appears in 1 contract

Samples: Merger Agreement (Black Leon D)

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