Insured Subsidiary means a Subsidiary of the Borrower which is an “insured depository institution” under and as defined in the U.S. Federal Deposit Insurance Act (12 U.S.C. 1813(c)(2)) or any successor statute or which has an analogous status under the laws of Canada or any political subdivision thereof.
Insured Subsidiary means any insured depositary institution (as defined in 12 U.S.C. Section 1813(c) (or any successor provision), as amended, re-enacted or redesignated from time to time, that is controlled (within the meaning of 12 U.S.C. Section 1841 (or any successor provision), as amended, re-enacted or redesignated from time to time) by either Borrower.
Insured Subsidiary means any insured depositary institution (as defined in 12 U.S.C. Sec. 1813(c) (or any successor provision), as amended, reenacted or redesignated from time to time, that is controlled (within the meaning of 12 U.S.C. Sec. 1841 (or any successor provision), as amended, reenacted or redesignated from time to time) by the Borrower. Credit Agreement ----------------
Examples of Insured Subsidiary in a sentence
Coverage for such Insured Subsidiary shall only apply to Loss, including Defense Costs, arising from Wrongful Employment Practices and Third Party Discrimination taking place after the merger or acquisition.
The bankruptcy or insolvency of the Insured Company or any Insured Subsidiary shall not relieve us of any obligations hereunder.
If during the Policy Period the Insured Company acquires securities in another entity or creates another entity, which as a result becomes an Insured Subsidiary, or if the Insured Company acquires another entity by merger or consolidation, coverage under Coverage Sections A., B.
If during the Policy Period the Insured Company or any Insured Subsidiary is acquired, or control assumed by another entity, coverage under this Policy will continue but only with respect to Wrongful Acts taking place prior to the effective date of the acquisition or change of control.
The Company shall assure that each Insured Subsidiary shall be adequately capitalized at all times.
More Definitions of Insured Subsidiary
Insured Subsidiary means any organization more than 50% owned by the Insured Company listed in Item 1 of the Declarations. Subject to the provisions contained in Section V.O of this Policy, Insured Subsidiary shall also include any organization acquired by the Insured Company listed in Item 1 during the Policy Period; provided, however, that: 1. such acquired organization is more than 50% owned by the Insured Company; 2. the total number of the acquired organization’s employees does not exceed 50% of the total number of the Insured Company’s Employees as of the inception date of this Policy; and 3. coverage for such acquisition shall only apply to Loss, including Defense Costs, arising from Wrongful Employment Practices or Third-Party Discrimination taking place after the acquisition.
Insured Subsidiary means a Subsidiary of the Borrower that is an “insured depository institution” under and as defined in the U.S. Federal Deposit Insurance Act (12 U.S.C. §1813(c)(2)) or any successor statute or that has an analogous status under the laws of Canada or any other country that is a member of the OECD or any political subdivision of any such country. As of the Seventh Amendment Effective Date, Comenity Bank and Comenity Capital Bank are Insured Subsidiaries.
Insured Subsidiary means a Subsidiary that is an “insured depository institution” within the meaning of 12 U.S.C. § 1813 (or any successor provision), as amended from time to time.
Insured Subsidiary means any organization in which more than 50% of the outstanding voting securities representing the present right to vote for election of directors is owned, directly or indirectly, by the Insured Company. J. Interrelated Claims means all Claims based upon or arising from Wrongful Acts that have as a common nexus any fact, circumstance, situation, event, transaction, cause or series of related facts, circumstances, situations, events, transactions, or causes. Claims may be Interrelated Claims whether or not they involve the same cause, claimants, Insured, or legal theory. All Interrelated Claims shall be deemed one Claim, and such Claim shall be deemed to have been first made on the date the earliest of such Claims was first made, regardless of whether such date was before or during the Policy Period. K. Leased Employee means any Employee who is leased to you to perform work at and for the Insured Company and over whom you control the means and manner of their work. L. Loss, with respect to each Coverage Section except Coverage Section D, shall include Defense Costs, and shall have the meaning set forth in that Coverage Section; provided, however, with respect to all such Coverage Sections, Loss shall also include punitive, multiple, and exemplary damages, to the extent insurable under the law of any applicable jurisdiction most favorable to insurability. M. Policy means, collectively, the Declarations, the Application, this Policy form, and any endorsements.N. Policy Period means the period of time specified in Item 2. of the Declarations, subject to any prior cancellation described in Section XXVI. of these General Terms and Conditions. O. Sponsor Company shall mean the entity named in Item 1 of the Declarations and anyInsured Subsidiary. P. Wrongful Act(s) means, for purposes of these General Terms and Conditions, Wrongful Employment Practices and Third-Party Discrimination as defined in the Employment Practices Coverage Section, Wrongful Acts as defined in the Directors and Officers Liability Coverage Section and Fiduciary Wrongful Acts as defined in the Fiduciary Liability Coverage Section, but only where each such Coverage Section is purchased and included.
Insured Subsidiary means an organization wholly owned and controlled by the Name Insured as specified in the Declarations and fully disclosed in the Application for the Policy and providing the same Professional Services as shown in the Declarations as the Named Insured.
Insured Subsidiary means any wholly-owned subsidiary of the Primary Insured that is identified in the Application, the Declarations or an endorsement hereto.
Insured Subsidiary means any insured depositary institution (as defined in 12 U.S.C. §1813(c) (or any successor provision), as amended, re- enacted or redesignated from time to time), that is controlled (within the meaning of 12 U.S.C. §1841 (or any successor provision), as amended, re-enacted or redesignated from time to time) by the Borrower.