Common use of Limitation on Required Maintenance of D&O Insurance Clause in Contracts

Limitation on Required Maintenance of D&O Insurance. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain D&O Insurance if the Company determines in good faith that: such insurance is not reasonably available, the premium costs for such insurance are disproportionate to the amount of coverage provided, the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, the Indemnitee is covered by similar insurance maintained by a subsidiary of the Company, the Company is to be acquired and a tail policy of reasonable duration and terms is purchased for pre-closing acts or omissions by the Indemnitee, or the Company is to be acquired and D&O Insurance will be maintained by the acquirer that covers pre-closing acts and omissions by the Indemnitee.

Limitation on Required Maintenance of D&O Insurance. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain D&O Insurance if the Company determines in good faith that: such insurance is not reasonably available, ; the premium costs for such insurance are disproportionate to the amount of coverage provided, ; the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, ; the Indemnitee is covered by similar insurance maintained by a subsidiary of the Company, ; the Company is to be acquired and a tail policy of reasonable terms and duration and terms is has been purchased for pre-closing acts or omissions by the Indemnitee, ; or the Company is to be acquired and D&O Insurance has been purchased and will be maintained by the acquirer that covers pre-closing acts and omissions by the Indemnitee.

Limitation on Required Maintenance of D&O Insurance. Notwithstanding the foregoing, the Company Corporation shall have no obligation to obtain or maintain D&O Insurance if the Company Corporation determines in good faith that: such insurance is not reasonably available, ; the premium costs for such insurance are disproportionate to the amount of coverage provided, ; the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, ; the Indemnitee is covered by similar insurance maintained by a subsidiary of the Company, Corporation; the Company Corporation is to be acquired and a tail policy of reasonable terms and duration and terms is purchased for pre-closing acts or omissions by the Indemnitee, ; or the Company Corporation is to be acquired and D&O Insurance will be maintained by the acquirer that covers pre-closing acts and omissions by the Indemnitee.

Limitation on Required Maintenance of D&O Insurance. Notwithstanding the foregoingany other provisions of this Agreement, the Company Company, subject to the approval of the Board, shall have no obligation to obtain or maintain D&O Insurance if the Company determines in good faith that: such insurance is not reasonably available, ; the premium costs for such insurance are disproportionate to the amount of coverage provided, ; the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, the Indemnitee is covered by similar insurance maintained by a subsidiary of the Company, ; the Company is to be acquired and a tail policy of reasonable terms and duration and terms is purchased for pre-closing acts or omissions by the Indemnitee, ; or the Company is to be acquired and D&O Insurance will be maintained by the acquirer that covers pre-closing acts and omissions by the Indemnitee.

Limitation on Required Maintenance of D&O Insurance. Notwithstanding the foregoingany other provisions of this Agreement, the Company shall have no obligation to obtain or maintain D&O Insurance if the Company determines in good faith that: such insurance is not reasonably available, ; the premium costs for such insurance are disproportionate to the amount of coverage provided, ; the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, the Indemnitee is covered by similar insurance maintained by a subsidiary of the Company, ; the Company is to be acquired and a tail policy of reasonable terms and duration and terms is purchased for pre-closing acts or omissions by the Indemnitee, ; or the Company is to be acquired and D&O Insurance will be maintained by the acquirer that covers pre-closing acts and omissions by the Indemnitee.

Limitation on Required Maintenance of D&O Insurance. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain D&O Insurance if the Company determines in good faith that: such insurance is not reasonably available, ; the premium costs for such insurance are disproportionate to the amount of coverage provided, ; the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, ; the Indemnitee is covered by similar insurance maintained by a subsidiary of the Company, ; the Company is to be acquired and a tail policy of reasonable terms and duration and terms is purchased for pre-closing acts or omissions by the Indemnitee, ; or the Company is to be acquired and D&O Insurance will be maintained by the acquirer that covers pre-closing acts and omissions by the Indemnitee.

Limitation on Required Maintenance of D&O Insurance. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain D&O Insurance if the Company determines in good faith that: such insurance is not reasonably available, ; the premium costs for such insurance are disproportionate to the amount of coverage provided, ; the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, ; the Indemnitee is covered by similar insurance maintained by a subsidiary Subsidiary of the Company, ; the Company is to be acquired and a tail policy of reasonable terms and duration and terms is purchased for pre-closing acts or omissions by the Indemnitee, ; or the Company is to be acquired and D&O Insurance will be maintained by the acquirer that covers pre-closing acts and omissions by the Indemnitee.