Director Liability Insurance Sample Clauses
The Director Liability Insurance clause requires the company to provide insurance coverage for its directors against claims arising from their actions in their official capacity. Typically, this means the company will purchase and maintain directors and officers (D&O) liability insurance, which covers legal costs and potential damages if directors are sued for alleged wrongful acts related to their management duties. The core function of this clause is to protect directors from personal financial loss, thereby encouraging qualified individuals to serve on the board without fear of personal liability.
Director Liability Insurance. To the extent the Company maintains an insurance policy or policies providing directors’ liability insurance, the Indemnitee will be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any director of the Company.
Director Liability Insurance. The Company maintains directors' and officers’ liability Insurance policies.
Director Liability Insurance. GREAT shall maintain directors', and officers' liability insurance in an amount not less than $5 million for the benefit of the Board of Trust Managers.
Director Liability Insurance. Each Glencore Nominee Indemnitee shall be entitled to the benefit of any directors' liability insurance or indemnity to which other directors of the Company or any of its Subsidiaries, or Material Entities as applicable, are entitled. Upon the request of Glencore, the Company shall enter into such indemnity agreements with the Glencore Nominee Indemnitees as requested by Glencore.
Director Liability Insurance. As soon as reasonably practicable following the QIPO, the Company shall, at the request of any Investor Director, purchase, and thereafter shall maintain, directors’ liability insurance on commercially reasonable and customary terms approved by the Board of the Company, in relation to any person who is a Director of the Company, against any liability asserted against the person and incurred by the person in that capacity, except to the extent otherwise agreed by such Investor Director.
Director Liability Insurance. The Company shall, from time to time, make the good faith determination whether or not it is practicable for the Company to obtain and maintain a policy or policies of insurance with reputable insurance companies providing the directors of the Company with coverage for losses from wrongful acts, or to ensure the Company's performance of its indemnification obligations under this Agreement. Among other considerations, the Company will weigh the costs of obtaining such insurance coverage against the protection afforded by such coverage. In all policies of director liability insurance, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company's directors. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain such insurance if the Company determines in good faith that such insurance is not reasonably available, if the premium costs for such insurance are disproportionate to the amount of coverage provided, if the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, if Indemnitee is covered by similar insurance maintained by a subsidiary or parent of the Company, or if the Board of Directors in good faith determines that maintaining such insurance is not in the best interest of the Company's stockholders.