Common use of Officer and Director Liability Insurance Clause in Contracts

Officer and Director Liability Insurance. (a)The Company hereby covenants and agrees with Indemnitee that, subject to Section 6(b), the Company shall obtain and maintain in full force and effect directors’ and officers’ liability insurance (“D&O Insurance”), in reasonable amounts as the Board shall determine from established and reputable insurers with an AM Best rating of X.XX or better, but no less than the amounts in effect upon initial procurement of the D&O Insurance. In all policies of D&O Insurance, Indemnitee shall be named as an insured.

Officer and Director Liability Insurance. (a)The a) The Company hereby covenants and agrees with Indemnitee that, subject to Section 6(b7(b), the Company shall obtain and maintain in full force and effect directors’ and officers’ liability insurance (“D&O Insurance”), in reasonable amounts as the Board shall determine from established and reputable insurers with an AM Best rating of X.XX or better, but no less than the amounts in effect upon initial procurement of the D&O Insurance. In all policies of D&O Insurance, Indemnitee shall be named as an insured.

Officer and Director Liability Insurance. (a)The Company hereby covenants and agrees with Indemnitee that, subject to Section 6(b7(b), the Company shall obtain and maintain in full force and effect directors’ and officers’ liability insurance (“D&O Insurance”), in reasonable amounts as the Board shall determine from established and reputable insurers with an AM Best rating of X.XX or better, but no less than the amounts in effect upon initial procurement of the D&O Insurance. In all policies of D&O Insurance, Indemnitee shall be named as an insured.

Officer and Director Liability Insurance. (a)The a) The Company hereby covenants and agrees with Indemnitee that, subject to Section 6(b7(b), the Company shall obtain and maintain in full force and effect directors’ ' and officers’ ' liability insurance (“D&O Insurance”), in reasonable amounts as the Board shall determine from established and reputable insurers with an AM Best rating of X.XX or better, but no less than the amounts in effect upon initial procurement of the D&O Insurance. In all policies of D&O Insurance, Indemnitee shall be named as an insured.