Fidelity Bond definition
Examples of Fidelity Bond in a sentence
The Agent will at all times maintain in effect insurance coverage, including, without limitation, Errors and Omissions, Fidelity Bond and Electronic Data Processing coverages, at levels of coverage consistent with those customarily maintained by other high quality investor servicing agents for registered investment companies and with such policies as the Trustees may from time to time adopt.
No provision of this Section requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve Seller from its duties and obligations as set forth in this Agreement.
Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure Seller against losses in connection with the release or satisfaction of an Underlying Asset without having obtained payment in full of the indebtedness secured thereby.
Seller shall ensure that Buyer is added as an additional loss payee under each of the Fidelity Bond and Errors and Omissions Insurance Policy.
The minimum coverage under any such Fidelity Bond and Errors and Omissions Insurance Policy shall be at least equal to the amount maintained by management of Seller to be customary for similarly situated companies.