E&O Tail Policy definition
Examples of E&O Tail Policy in a sentence
The cost of the premium for the E&O Tail Policy shall be borne by Seller and shall be a Seller Transaction Expense.
The Company shall be responsible for the cost of the E&O Tail Policy and such amount shall be deemed a Transaction Expense for purposes of this Agreement.
Buyer shall pay the amount of the E&O Premium towards the premium for the E&O Tail Policy at the time it is acquired prior to Seller being obligated to pay any additional sums towards the premium with any remaining sum due being evenly split.
For the avoidance of doubt, fifty percent (50%) of the fees, costs and expenses of the E&O Tail Policy shall be borne by Buyer.
Purchaser agrees to reasonably cooperate with and assist Sellers in arranging for the Cyber and E&O Tail Policy.
The E&O Tail Policy will be for a period of three (3) years unless ▇▇▇▇▇ and Seller agree otherwise.
The amount of any Damages for which any Indemnitor is liable under Section 10 shall be reduced, dollar-for-dollar (in case of the D&O Tail Policy and the E&O Tail Policy, net of cost of collection and any increase in premium as a result of such collection) by the amount of insurance proceeds recovered by any Indemnitee under any of the Available Policies.
The Company shall have provided Parent with evidence reasonably satisfactory to Parent of the purchase of the D&O Tail Policy in accordance with Section 5.11 and the E&O Tail Policy in accordance with Section 5.12.
The E&O Tail Policy shall contain terms and coverage amounts at least as favorable as the terms and coverage amounts of the policies of the Company as currently in effect.
During the term of the D&O and E&O Tail Policies, Parent shall not (and shall cause the Surviving Corporation not to), without the prior consent of the Shareholder Representative, cancel the D&O or E&O Tail Policies or waive or amend any provision therein; provided, that neither Parent, the Surviving Corporation nor any Affiliate thereof shall be obligated to pay any premiums or other amounts in respect of such D&O or E&O Tail Policy.