Properties, Business, Insurance. The Company shall maintain its properties and business, with financially sound and reputable insurers, insurance against such casualties and contingencies and of such types and in such amounts as is customary for companies similarly situated, which insurance shall be deemed by the Company to be sufficient. The Company shall not cause or permit any assignment or change in beneficiary and shall not borrow against any such policy.
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Samples: Investment Agreement (Who Vision Systems Inc /Fl), Stock Purchase Agreement (Chromavision Medical Systems Inc)
Properties, Business, Insurance. The Company shall maintain as to its properties and business, with financially sound and reputable insurers, insurance against such casualties and contingencies and of such types and in such amounts as is customary for companies similarly situated, which insurance shall be deemed by the Company to be sufficient, as well as directors’ and officers’ liability insurance of at least $6,000,000 on terms reasonably satisfactory to the Investors. The Company shall not cause or permit any assignment or change in beneficiary and shall not borrow against any such policy.
Appears in 1 contract
Properties, Business, Insurance. The Company shall maintain ------------------------------- its properties and business, with financially sound and reputable insurers, insurance against such casualties and contingencies and of such types and in such amounts as is customary for companies similarly situated, which insurance shall be deemed by the Company to be sufficient. The Company shall not cause or permit any assignment or change in beneficiary and shall not borrow against any such policy.
Appears in 1 contract
Samples: Convertible Preferred Stock Purchase Agreement (Adolor Corp)
Properties, Business, Insurance. The Company shall maintain ------------------------------- and cause each of its subsidiaries to maintain as to their respective properties and business, with financially sound and reputable insurers, insurance against such casualties and contingencies and of such types and in such amounts as is customary for companies similarly situated, which insurance shall be deemed by the Company to be sufficient. The Company shall not cause or permit any assignment or change in beneficiary and shall not borrow against any such policy.
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Samples: Purchase Agreement (CCBN Com)
Properties, Business, Insurance. The Company shall maintain insurance on its properties and business, with financially sound and reputable insurers, insurance against such casualties and contingencies and of such types and in such amounts as is customary for companies similarly situated, which insurance shall be deemed by the Company to be sufficient. The Company shall not cause or permit any assignment or change in beneficiary and shall not borrow against any such policy.
Appears in 1 contract
Samples: Note and Warrant Purchase Agreement (Wand Partners Sc Inc)
Properties, Business, Insurance. The Company shall maintain ------------------------------- insurance on its properties and business, with financially sound and reputable insurers, insurance against such casualties and contingencies and of such types and in such amounts as is customary for companies similarly situated, which insurance shall be deemed by the Company to be sufficient. The Company shall not cause or permit any assignment or change in beneficiary and shall not borrow against any such policy.
Appears in 1 contract
Samples: Note and Warrant Purchase Agreement (Information Management Associates Inc)
Properties, Business, Insurance. The Company shall maintain as to its properties properties, and business, with financially sound and reputable insurers, insurance against such casualties and contingencies and of such types and in such amounts as is customary for companies similarly situated, which insurance shall be deemed by the Company to be sufficient. The Company shall not 21 cause or permit any assignment or change in beneficiary and shall not borrow against any such policy.
Appears in 1 contract
Samples: Preferred Stock Purchase Agreement (Argonaut Technologies Inc)