Tail Policy definition

Tail Policy has the meaning set forth in Section 6.18(b).

Tail Policy has the meaning set forth in Section 7.09.

Tail Policy has the meaning set forth in Section 10.16.

Examples of Tail Policy in a sentence

• The Tail Policy shall be placed by the broker of the Company’s choice with incumbent insurance carriers using the policies that were in place at the time of the Change in Control (unless the incumbent carriers do not offer such policies, in which case the Tail Policy shall be substantially comparable in scope and amount as the expiring policies, and the insurance carriers for the Tail Policy shall have an AM Best rating that is the same or better than the AM Best ratings of the expiring policies).

• The Company shall bear the cost of the D&O Tail Policy, and such costs, to the extent not paid prior to the Closing, shall be included in the determination of Transaction Expenses.

• If the Company purchases the Tail Policy prior to the Effective Time, then the Surviving Corporation will (and Parent will cause the Surviving Corporation to) maintain the Tail Policy in full force and effect and continue to honor its obligations thereunder for so long as the Tail Policy is in full force and effect.

• The Debtors are further authorized to take such actions, and to execute and deliver such documents, as may be reasonably necessary or appropriate to implement, maintain, cause the binding of, satisfy any terms or conditions of, or otherwise secure for the insureds the benefits of the D&O Tail Policy, without further notice to or order of the Bankruptcy Court or approval or consent of any Person or Entity.

• During the term of the D&O Tail Policy, Parent shall not (and shall cause the Surviving Corporation not to) take any action following the Closing to cause the D&O Tail Policy to be cancelled or any provision therein to be amended or waived; provided, that neither Parent, the Surviving Corporation nor any Affiliate thereof shall be obligated to pay any premiums or other amounts in respect of such D&O Tail Policy.

More Definitions of Tail Policy

Tail Policy has the meaning ascribed to such term in Section 5.9.

Tail Policy shall have the meaning set forth in Section 6.5(b) of this Agreement.

Tail Policy is defined in Section 9.5(b).

Tail Policy has the meaning set forth in Section 13.6 of the Agreement.

Tail Policy shall have the meaning set forth in Section 4.12.

Tail Policy has the meaning given to the term in Section 5.7(c)(viii) of this Agreement.

Tail Policy has the meaning set forth in Section 3.5.