Tail Insurance Policy definition

Tail Insurance Policy shall have the meaning set forth in Section 5.7(b).
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Tail Insurance Policy means a tail insurance policy issued for the full term of the Indemnification Escrow Agreement to pay any claims against the Companies for actions or omissions occurring prior to the Closing Date relating to specified risks and claims or types of claims against the Companies, in a form and issued by an insurer reasonably acceptable to Buyer, providing coverage until at least the third anniversary of the Closing Date in a dollar amount up to Five Million Dollars ($5,000,000), and fully purchased, with no further payment obligations with respect to premiums for such policy, by the Sellers at their discretion and at their cost and expense.
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Tail Insurance Policy means that certain tail insurance policy relating to professional liability insurance purchased by Sellers in connection with the Transactions, providing coverage effective as of the Closing Date and through at least the third (3rd) anniversary of the Closing Date in the aggregate amount of Ten Million and no/100 dollars ($10,000,000.00), naming Manager (and/or certain affiliates of Manager) as an additional insured, and in all other respects consistent with the current professional liability coverage in place on the Effective Date.
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Examples of Tail Insurance Policy in a sentence

  • For the avoidance of doubt this Section 3A.06 shall not preclude claims by any Stockholder under the Prior Limitation and Indemnity Provisions, the Tail Insurance Policy, in either case which such Stockholder may otherwise be able to assert other than in its capacity as a Stockholder, or Article VIII.

  • The Tail Insurance Policy, in form and substance acceptable to the Buyer.

  • The D&O Tail Insurance Policy shall contain terms (with respect to coverage and amount) that are substantially the same as (and no less favorable in the aggregate to the insured than) the current insurance coverage as of the date of this Agreement.

  • The entire premiums and other costs for obtaining such Tail Insurance Policy for the full term thereof shall be paid in full by the Company from cash on hand prior to the Closing with one half of the premiums to be defined as “Buyer’s D&O Premium Payment” .

  • Following the Closing, Purchaser shall cause the Tail Insurance Policy to remain in full force and effect and shall not, and shall not cause or permit any Affiliate thereof to, amend, waive, modify or otherwise alter the terms thereof.

  • It is agreed that the Surviving Corporation’s obligations under the Prior Limitation and Indemnity Provisions shall be limited to only those Claims and Losses that are otherwise not paid under the terms and conditions of the Tail Insurance Policy but are covered and payable under the terms and conditions of the Prior Limitation and Indemnity Provisions.

  • The Seller shall also provide Buyer, Parent and Management Team members with proof that all premiums have been paid in full on the Tail Insurance Policy.

  • The Prior Limitation and Indemnity Provisions shall be considered secondary coverage to the coverage of the Tail Insurance Policy and each Stockholder agrees to cause indemnification claims which could be submitted under the Prior Limitation and Indemnity Provisions to be first submitted to the insurers under the Tail Insurance Policy, to the extent such claims are brought by that Stockholder.

  • The Company will be the named insured on the Tail Insurance Policy and therefore any amounts paid under the Tail Insurance Policy shall not be subject to subrogation rights and other rights of indemnification and contribution against the Company and its Subsidiaries.

  • The Tail Insurance Policy shall provide coverage of at least US $2,000,000, have a deductible of no more than US$5,000, and have a term for making claims of no less than two (2) years from the Closing Date, and otherwise be satisfactory to Certicom.


More Definitions of Tail Insurance Policy

Tail Insurance Policy has the meaning set forth in Section 8.7(b).
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Tail Insurance Policy is defined in Section 6.10(b).
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Tail Insurance Policy is defined in Section 7.3(b).
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Tail Insurance Policy has the meaning set forth in Section 8(b)(xvi).
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Tail Insurance Policy means an insurance policy to provide at least the same coverage as Transferor Insurance Policies identified as being “claims made” policies in Schedule 7(u) forevents or losses of the Acquired Agency occurring before the Closing Date. Further, the Tail Insurance Policy must provide coverage of at least One Million Dollars ($1,000,000) per occurrence and Three Million Dollars ($3,000,000) in the aggregate with an annual deductible acceptable to Transferee.
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Tail Insurance Policy means extended reporting period or “tail insurance” relating to WRC’s existing liability insurance relating to the Properties, providing coverage effective as of the date that WRC’s insurance referenced above is no longer in effect and through the second (2nd) anniversary of the Closing Date, naming Purchaser, each Seller and Guarantor as additional insureds under such policy, with $10,000,000 of excess liability coverage (in lieu of current excess coverage limits), and in all other respects consistent with WRC’s commercial professional liability and general liability insurance policies in place on the Effective Date relating to the Properties.
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Related to Tail Insurance Policy

  • R&W Insurance Policy has the meaning set forth in Section 6.15.

  • Insurance Policies has the meaning set forth in Section 3.16.

  • Blanket insurance policy means a group policy covering a defined class of

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • Life Insurance Policy has the meaning given in Section 6.11.

  • Travel Insurance means coverage for personal risks incidental to planned travel, including one or more of the following:

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Bond Insurance Policy means the municipal bond insurance policy, if any, issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds and constitutes a Bond Facility under the Indenture.

  • Environmental Insurance Policy means, with respect to any Mortgage Loan or the related Mortgaged Property or REO Property, any insurance policy covering pollution conditions and/or other environmental conditions that is maintained from time to time in respect of such Mortgage Loan, Mortgaged Property or REO Property, as the case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Blanket travel insurance means a policy of travel insurance issued to any eligible group providing coverage for specific classes of persons defined in the policy with coverage provided to all members of the eligible group without a separate charge to individual members of the eligible group.

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.

  • Title Insurance Policies means, with respect to each Individual Property, an ALTA mortgagee title insurance policy in a form acceptable to Lender (or, if an Individual Property is in a State which does not permit the issuance of such ALTA policy, such form as shall be permitted in such State and acceptable to Lender) issued with respect to such Individual Property and insuring the lien of the Mortgage encumbering such Individual Property.

  • group insurance means blanket insurance and franchise insurance and any other forms of group insurance.

  • Title Insurance Policy A title insurance policy maintained with respect to a Mortgage Loan.

  • Collateral Insurance shall have the meaning set forth in Section 4.4(a).

  • Errors and Omissions Insurance Policy means an errors and omissions insurance policy maintained by the Master Servicer, the Special Servicer, the Trustee, the Custodian or the Certificate Administrator, as the case may be, in accordance with Section 8.2, Section 9.2 and Section 7.17, respectively.

  • Reimbursement insurance policy means a policy of insurance

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.