Security Holder Derivative Demand definition
Security Holder Derivative Demand means a written demand by one or more security holders of the Company upon the board of directors of the Company to bring a lawsuit against any Insured Person for a Wrongful Act.
Security Holder Derivative Demand means a written demand by one or more security holders of the Insured Entity upon the board of directors of the Insured Entity to bring a lawsuit against any Insured Person for a Wrongful Act.
Security Holder Derivative Demand means a written demand by one or more security holders of the Insured Organization in their capacity(ies) as such to bring a civil proceeding in a court of law on behalf of, or in the name or right of, the Insured Organization against any Insured Person for a Wrongful Act by an Insured Person, but only if such demand is asserted without the assistance, participation or solicitation of any member of the board of directors, officer, member of the board of managers, or a functional equivalent thereof.
Examples of Security Holder Derivative Demand in a sentence
The Insurer shall pay on behalf of the Company all Security Holder Derivative Demand Investigation Costs as a result of any Security Holder Derivative Demand first made during the Policy Period and reported to the Insurer as required by this Policy.
The Insurer shall pay on behalf of the Insured Entity all Security Holder Derivative Demand Investigation Costs as a result of any Security Holder Derivative Demand first made during the Policy Period and reported to the Insurer as required by this Policy.