D & O Liability Insurance. The Employee shall be covered in his capacity as an officer of the Company under the Company's directors and officers liability insurance policy. The cost of such coverage shall be borne by the Company.
D & O Liability Insurance. Contemporaneously with the Closing, Westbound shall purchase an extended reporting period for six (6) years under Westbound’s existing directors and officers liability insurance policy, on terms approved by Guaranty, such approval not to be unreasonably withheld, conditioned or delayed, for purposes of covering actions occurring before the Effective Time. Notwithstanding any other provision of this Agreement, the premiums for such coverage shall be paid and accrued for by Westbound and shall be included (as a deduction) in the calculation of Adjusted Tangible Equity.
D & O Liability Insurance. Contemporaneously with the Closing, CGI and UCB shall purchase an extended reporting period for 3 years under CGI’s existing directors and officers liability insurance policy, on terms approved by IBG, for purposes of covering actions occurring prior to the Effective Time. Notwithstanding any other provision of this Agreement, the premiums for such coverage shall be paid by IBG and shall not be deducted in the calculation of CGI Tangible Equity.
D & O Liability Insurance. Contemporaneously with the Closing, IBI shall purchase an extended reporting period for four (4) years under IBI’s existing directors and officers liability insurance policy for purposes of covering actions occurring prior to the Effective Time, on terms approved by IBG. Notwithstanding any other provision of this Agreement, the cost of the premiums for such coverage shall be paid by IBI and shall be included (as a deduction) in the calculation of Tangible Equity.
D & O Liability Insurance. Contemporaneously with the Closing, CBI shall purchase an extended reporting period for four (4) years under CBI’s existing directors and officers liability insurance policy for purposes of covering actions occurring prior to the Effective Time, on terms approved by IBG. Notwithstanding any other provision of this Agreement, the cost of the premiums for such coverage shall be paid by CBI and shall be included (as a deduction) in the calculation of Tangible Equity.
D & O Liability Insurance. Contemporaneously with the Closing, BOHI xxx Bank of Houston shall purchase an extended reporting period for three years under BOHI’x xxxsting directors and officers liability insurance policy, on terms approved by IBG, such approval not to be unreasonably withheld, conditioned or delayed, for purposes of covering actions occurring before the Effective Time; provided, however, that the cost of such coverage for the full three-year period shall not exceed 300% of the amount paid by BOHI xx its last full fiscal year for one year’s coverage. In the event that the cost of such coverage exceeds such amount, then the available amount shall be used to purchase coverage for the longest available period. Notwithstanding any other provision of this Agreement, the premiums for such coverage shall be paid and accrued for by BOHI xxx/or Bank of Houston and shall be included (as a deduction) in the calculation of Tangible Book Value.
D & O Liability Insurance. Contemporaneously with the Closing, Target and Target Bank shall purchase an extended reporting period for three (3) years under Target’s existing directors and officers liability insurance policy, on terms approved by Buyer, such approval not to be unreasonably withheld, conditioned or delayed, for purposes of covering actions occurring before the Effective Time. Notwithstanding any other provision of this Agreement, the premiums for such coverage shall be paid and accrued for by Target and/or Target Bank and shall be included (as a deduction) in the calculation of Tangible Common Equity.
D & O Liability Insurance. Contemporaneously with the Closing, HCBI and HCB shall purchase an extended reporting period for three years under HCBI’s existing directors and officers liability insurance policy, on terms approved by IBG, for purposes of covering actions occurring before the Effective Time. Notwithstanding any other provision of this Agreement, the premiums for such coverage shall be paid and accrued for by HCBI and/or HCB and shall be included (as a deduction) in the calculation of HCBI Tangible Equity.
D & O Liability Insurance. For a period of three years after the Closing Date, National shall cause to be maintained in effect the current policies of directors' and officers' liability insurance and fiduciary liability insurance maintained by National and its Subsidiaries (provided that National may substitute therefor policies with one or more reputable unaffiliated third-party insurers of at least the same coverage and amounts containing terms and conditions which are no less advantageous to the insured) with respect to claims arising from facts or events which occurred at or before the Closing Time.
D & O Liability Insurance. Contemporaneously with the Closing, I BHC and I Bank shall purchase an extended reporting period for 3 years under I BHC’s existing directors and officers liability insurance policy, on terms approved by IBG, for purposes of covering actions occurring prior to the Effective Time. Notwithstanding any other provision of this Agreement, the premiums for such coverage shall be paid by I Bank.
