Tail Policy Sample Clauses
Tail Policy. Prior to the Effective Time, the Company shall purchase tail insurance coverage for the Acquired Companies’ directors and officers in a form reasonably acceptable to the Company and Parent, which shall provide such directors and officers with coverage for six years following the Effective Time with respect to claims arising out of acts or omissions occurring at or prior to the Effective Time (the “Insurance Coverage”); provided that the full cost and all premiums associated with such Insurance Coverage are paid in a lump sum by the Company prior to or at the Closing and are included as a Transaction Fee.
Tail Policy. EQBK shall have procured the Tail Policy in accordance with the terms and subject to the conditions of Section 6.13(c).
Tail Policy. The Company shall have obtained the Tail Policy and provided evidence thereof to Parent.
Tail Policy. Prior to the Closing Date, the Company shall purchase, with the Company bearing 50% of such costs and expenses (and the Acquiror bearing the other 50%), a non-cancelable run-off “tail” insurance policy (the “Tail Policy”) of not less than the existing coverage amount, for a period of six (6) years after the Closing Date to provide insurance coverage for events, acts or omissions occurring on or prior to the Closing Date for all persons who were directors, managers or officers of the Company on or prior to the Closing Date. The Tail Policy shall contain terms and conditions no less favorable to the insured persons than the directors’, managers’ or officers’ liability coverage presently maintained by the Company.
Tail Policy. 33 11.9. Restrictions Applicable to Physician Owners.................... 33
Tail Policy. The Company shall, prior to the Effective Time, purchase a six (6) year "tail" prepaid policy (the "Tail Policy") on terms and conditions no less advantageous to the indemnified parties, or any other person entitled to the benefit of this Section 5.7, as applicable, than the existing directors' and officers' liability (and fiduciary) insurance maintained by the Company, covering, without limitation, the Merger.
Tail Policy. On or prior to the Closing Date, the Company shall have obtained an occurrence-based irrevocable “tail” or extended reporting policy (the “Tail Policy”) with respect to the Company’s directors and officers liability insurance policy in place as of immediately prior to the Closing, which shall survive for at least three (3) years following the Closing and provide coverage no less favorable than provided thereunder as of immediately prior to the Closing.
Tail Policy. Limestone shall have procured the Tail Policy in accordance with the terms and subject to the conditions of Section 6.18(b).
Tail Policy. Parent shall have received evidence that the Tail Policy has been obtained and that all premiums, fees and charges in connection therewith have been paid for the full term thereof.
Tail Policy. Prior to the Closing, the Company shall purchase an extended reporting period endorsement (the “Tail Policy”) under the Company’s and any Company Subsidiary’s existing directors’ and officers’ liability insurance policy in effect on the Effective Date (the “Current Policy”) for the D&O Indemnified Persons (as defined below). The Company shall be responsible for the cost of the Tail Policy. The Tail Policy purchased by the Company shall provide the D&O Indemnified Persons with coverage for six (6) years from and after the Effective Time with respect to acts or omissions occurring at or prior to the Effective Time and shall contain terms and coverage amounts at least as favorable as the terms and coverage amounts of the Current Policy. For the period of six (6) years from and after the Effective Time, the Surviving Corporation shall not cancel or amend the Tail Policy.
