D&O Insurance Policy definition
Examples of D&O Insurance Policy in a sentence
Neither the Company nor any of its Subsidiaries has received any notice of cancellation or termination with respect to any such D&O Insurance Policy.
Such D&O Insurance Policies are in full force and effect and, to the Knowledge of the Company, neither the Company nor any Subsidiary is in material default with respect to any of its obligations under any such D&O Insurance Policy.
At any time prior to the Effective Time, notwithstanding anything to the contrary set forth in this Agreement, the Company may purchase, and shall purchase at the request of Parent, a "tail" prepaid policy on the D&O Insurance Policy covering a period of six years from the Effective Time; provided that the aggregate amount of such "tail" policy is less than 200% of the annual premium currently payable by the Company with respect to its current D&O Insurance Policy.
Ashland Global and Valvoline acknowledge that, as of immediately prior to the Separation Date, Ashland Global intends to take such action as it may deem necessary or desirable to terminate any D&O Insurance Policy issued to any officer or director of the Valvoline by any insurance carrier effective immediately prior to the Separation Date.
This Agreement and all of the rights and obligations of the Executive hereunder may not be transferred or assigned by the Executive at any time.