Director Insurance Sample Clauses
The Director Insurance clause requires a company to provide insurance coverage for its directors, protecting them from personal liability arising from their official duties. Typically, this involves purchasing Directors and Officers (D&O) liability insurance, which covers legal costs and damages related to claims made against directors for actions taken in their corporate roles. The core function of this clause is to safeguard directors from financial loss due to lawsuits or claims, thereby encouraging qualified individuals to serve on the board without fear of personal risk.
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Director Insurance. The Director shall continue to be entitled to Director insurance coverage from the Effective Date to the Resignation Date.
Director Insurance. The Company shall, as soon as practicable and in any event within 30 days after the Closing, obtain directors’ and officers’ indemnity insurance coverage in respect of the Preferred Directors in an amount, and from an insurer, that is reasonably satisfactory to all Preferred Directors and shall maintain such directors’ and officers’ indemnity insurance coverage at all times.
Director Insurance. If not already entered into, the Company shall enter into standard indemnification agreements with the members of the Board of Directors in the form attached to this Agreement as Exhibit C.
Director Insurance. The Company shall obtain customary director and officer indemnity insurance on commercially reasonable terms, unless such insurance has been obtained by a Subsidiary or Affiliate of the Company and remains in place with coverage extending to the Directors and Officers of the Company.
Director Insurance. The Company shall provide directors liability insurance for all Directors in an amount reasonably determined by the Company.
Director Insurance. Within three (3) months after the Closing,, the Company shall obtain and maintain insurance for the director appointed by GS with coverage and terms to the satisfaction of GS.
Director Insurance. The Fund’s directors and officers/errors and omissions insurance policy and its fidelity bond required by Rule 17g-1 of the Rules and Regulations are in full force and effect; the Fund is in compliance with the terms of such policy and fidelity bond in all material respects; and there are no claims by the Fund under any such policy or fidelity bond as to which any insurance company is denying liability or defending under a reservation of rights clause; the Fund has not been refused any insurance coverage sought or applied for; and the Fund has no reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a material adverse effect on the condition (financial or otherwise), business, properties, net assets or results of operations of the Fund or business prospects (other than as a result of a change in the financial markets generally), whether or not arising from transactions in the ordinary course of business, except as set forth in or contemplated in the General Disclosure Package.
Director Insurance. From and after the date hereof, the Company shall purchase and, at all times thereafter, maintain Director insurance with a carrier reasonably acceptable to the Investors with the amount of the coverage determined by simple majority vote of the Board (which simple majority must include at least one of the Series A Directors).
Director Insurance. Company shall provide Executive with Director's and Officer's insurance in the minimum of Two Million Dollars ($2,000,000) million coverage within ten (10) business days after executing this agreement.