Derivative Demand means a written demand by one or more owners of voting securities of the Insured Organization upon the board of directors of the Insured Organization to bring a civil proceeding in a court of law against any of the Insured Persons for a Wrongful Act.
Derivative Demand means a written demand by one or more security holders of a Company, without the assistance, participation or solicitation of any Executive, upon the board of directors (or equivalent management body) of such Company requesting that it file on behalf of the Company a civil proceeding in a court of law against any Executive for a Wrongful Act.
Derivative Demand means any written demand by any security holders of an Insured Entity, in their capacity as such, upon the board of directors or managers of such Insured Entity to bring a civil proceeding against a Manager for a Wrongful Act of such Manager if such demand is made without the assistance, participation or solicitation of any Manager. A Derivative Demand shall be deemed commenced by the receipt of such demand.
Examples of Derivative Demand in a sentence
The Insurer shall pay Investigation Costs on behalf of an Insured Entity that such Insured Entity incurs resulting from a Derivative Demand first made during the Policy Period or Extended Reporting Period, if applicable.
More Definitions of Derivative Demand
Derivative Demand means a written demand by one or more owners or directors of the Insured Organization to bring a civil proceeding in a court of law against any of the Insured Persons for a Wrongful Act, subject to the sublimit specified in Item4. of the Declarations.
Derivative Demand means a written demand by shareholders upon the board of directors (or equivalent management body) of a Company asking it to bring, on behalf of the Company, a civil proceeding in a court of law against any Insured Person of the Company for a Wrongful Act of such Insured Person.
Derivative Demand means a written demand by any security holder of an Insured Organization, in their capacity as such, upon the board of directors or managers of such Insured Organization to bring a civil proceeding on behalf of an Insured Organization against an Insured Person for a Wrongful Act of such Insured Person if such demand is made without the assistance, participation or solicitation of any Executive. A Derivative Demand shall be deemed commenced by the receipt by the board of directors or managers of such demand.
Derivative Demand means a written demand by shareholders or creditors upon the board of directors (or equivalent management body) of a Company requesting that it file, on behalf of the Company, a civil proceeding in a court of law against any Executive of the Company for a Wrongful Act of such Executive in order to obtain relief from damages arising out of such Wrongful Acts.
Derivative Demand means a written demand by one or more shareholders of the Company upon the Company’s Board of Directors, to bring a civil proceeding on behalf of the Company against an Executive for a Wrongful Act.
Derivative Demand means a written demand by one or more shareholders of the Company upon the Company’s board of directors to bring a civil proceeding on behalf of the Company against any Executive for a Wrongful Act.
Derivative Demand means any written demand by any Complainant upon the board of directors (or equivalent management body) of the Insured Organization to commence a civil action on behalf of the Insured Organization against any Director and Officer for any wrongdoing on the part of such Director and Officer, or the commencement of any such civil action by the Complainant or the Insured Organization in the event no prior written demand was made.