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

Maintenance of D&O Insurance. (a) The Company represents that it presently has in force and effect policies of D&O Insurance. The Company hereby covenants that it will use its best efforts to maintain a policy or policies no less beneficial to the Company and Officer than the policies in effect on the date hereof. The Company shall not be required, however, to maintain such policy or policies if such insurance is not reasonably available or if, in the reasonable business judgment of the then directors of the Company, either (i) the premium cost for such insurance is disproportionate to the amount of coverage, or (ii) the coverage provided by such insurance is so limited by exclusions that there is insufficient benefit from such insurance. (b) In all policies of D&O Insurance, Officer shall be named as an insured in such a manner as to provide Officer the same rights and benefits, subject to the same limitations, as are accorded to the Company's directors or officers most favorably insured by such policy.

Maintenance of D&O Insurance. (a) The Company represents that it presently has in force and effect policies of D&O Insurance. The Company hereby covenants that it will use its best efforts to maintain a policy or policies no less beneficial to the tothe Company and Officer than the policies in effect on the date hereof. The Company shall not be required, however, to maintain such policy or policies if such insurance is not reasonably available or if, in the reasonable business judgment of the then directors of the Company, either (i) the premium cost for such insurance is disproportionate to the amount of coverage, or (ii) the coverage provided by such insurance is so limited by exclusions that there is insufficient benefit from such insurance. (b) In all policies of D&O Insurance, Officer shall be named as an insured in such a manner as to provide Officer the same rights and benefits, subject to the same limitations, as are accorded to the Company's directors or officers most favorably insured by such policy.

Maintenance of D&O Insurance. (a) The Company represents that it presently has in force and effect policies of D&O Insurance. The Company hereby covenants that it will use its best efforts to maintain a policy or policies no less beneficial to the Company and Officer Director than the policies in effect on the date hereof. The Company shall not be required, however, to maintain such policy or policies if such insurance is not reasonably available or if, in the reasonable business judgment of the then directors of the Company, either (i) the premium cost for such insurance is disproportionate to the amount of coverage, or (ii) the coverage provided by such insurance is so limited by exclusions that there is insufficient benefit from such insurance. (b) In all policies of D&O Insurance, Officer Director shall be named as an insured in such a manner as to provide Officer Director the same rights and benefits, subject to the same limitations, as are accorded to the Company's directors or officers most favorably insured by such policy.