Insured Executive definition

Insured Executive means any or all of the following:
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Insured Executive means any or all of the following: (1) a past, present or future elected director, appointed officer or elected or appointed member of a board of managers of the Company, including any general counsel who is also an employee of the Company and other lawyers who are employees of the Company; or (2) the functional equivalent of such director, officer or manager of the Company when serving in such capacity outside the United States of America; or (3) the lawful spouse or domestic partner of an Insured Executive, but solely for a Wrongful Act by such Insured Executive; or (4) the estate, heirs, legal representatives or assigns of an Insured Executive, but solely in the event of his or her death, incapacity or bankruptcy and solely for a Wrongful Act by such Insured Executive; or (5) any employee of the Company, but solely for a Securities Wrongful Act by such employee.
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Examples of Insured Executive in a sentence

  • Repay any debts of the Company so as to secure the release of any personal guarantees given by the affected Insured Executive in respect of the Company borrowings.

  • Each Insured Executive and the Company represents that, to the best of his, her or its knowledge, the statements and particulars contained in the application(s) are true, accurate and complete.

  • No knowledge or information possessed by any Insured will be imputed to any Insured Executive, other than the Insured Executive possessing such knowledge or information, for the purposes of determining the availability of insurance with respect to Claims made against such other Insured Executive or with respect to any rescission of this Policy.

  • The term "termination for cause" shall have the meaning given to such term in the Insured Executive Supplemental Compensation Agreement, effective as of ___________, 19__.

  • The Insurer shall not be entitled to subrogation against any Insured Executive based upon conduct within the scope of any of the exclusions set forth in Section III.

  • In the event that an insolvency or bankruptcy proceeding is commenced by or against the Company, the Company, the Insured Executives and the Insurer waives and releases any automatic stay or injunction which may apply to its benefit and advantage in such proceeding in connection with this Policy or its proceeds, and agrees not to oppose or object to any efforts by the Insurer or any Insured Executive to obtain relief from any such stay or injunction that may be applied against their interests.

  • Unless otherwise provided by way of endorsement to this Policy, neither the intent, knowledge nor Wrongful Act of any Insured Executive or the Company shall be imputed to any other Insured Executive to determine the application of the foregoing exclusions.

  • The Insurer will pay Loss on behalf of the Company for which the Company has, to the extent permitted or required by applicable law, indemnified an Insured Executive, and which such Insured Executive has become legally liable to pay as a result of a Claim first made against her or him during the Policy Period or Discovery Period, if applicable, for a Wrongful Act that takes place during or prior to the Policy Period.

  • However, the rights of an Insured Executive or the Company under this Policy shall not otherwise be affected by the bankruptcy or insolvency of the Company or any Insured Executive.

  • The application(s) for insurance under this Policy shall be construed as separate application(s) for each Insured Executive and the Company.