Insurance Clause Example with 4 Variations from Business Contracts
This page contains Insurance clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Insurance. The Company shall, from time to time, make the good faith determination whether or not it is practicable for the Company to obtain and maintain a policy or policies of insurance with reputable insurance companies providing the officers and directors of the Company with coverage for losses from wrongful acts, or to ensure the Company’s performance of its indemnification obligations under this Agreement. Among other considerations, the Company will weigh the costs of obtaining such insurance cover...age against the protection afforded by such coverage. In all policies of director and officer liability insurance, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s directors, if Indemnitee is a director; or of the Company’s officers, if Indemnitee is not a director of the Company but is an officer. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain such insurance if the Company determines in good faith that such insurance is not reasonably available, if the premium costs for such insurance are disproportionate to the amount of coverage provided, if the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, or if Indemnitee is covered by similar insurance maintained by a subsidiary or parent of the Company.View More
Variations of a "Insurance" Clause from Business Contracts
Insurance. The Company shall, from time to time, make the good faith determination whether or not it is practicable for the Company to obtain and maintain a policy or policies of insurance with a reputable insurance companies company providing the officers and directors of the Company Indemnitee with coverage for losses from wrongful acts, acts. For so long as Indemnitee shall remain a director or to ensure the Company’s performance officer of its indemnification obligations under this Agreement. Among oth...er considerations, the Company will weigh the costs of obtaining and with respect to any such insurance coverage against the protection afforded by such coverage. In prior service, in all policies of director and officer liability insurance, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s directors, if Indemnitee is a director; or of the Company’s officers, if Indemnitee is not a director of the Company but is an officer. officers and directors. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain such insurance if the Company determines in good faith that such insurance is not reasonably available, if the premium costs for such insurance are disproportionate to the amount of coverage provided, or if the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, or if benefit. The Company shall promptly notify Indemnitee is covered by similar insurance maintained by a subsidiary or parent of the Company. any good faith determination not to provide such coverage. View More
Insurance. The Company shall, from time will use its reasonable best efforts to time, make acquire and maintain directors and officers liability insurance, on terms and conditions deemed appropriate by the good faith determination whether Board of Directors of the Company, with a reputable insurance company covering Indemnitee or not it is practicable any claim made against Indemnitee by reason of Indemnitee’s Corporate Status and covering the Company for any indemnification or advance of Expenses made by ...the Company to obtain and maintain a policy or policies Indemnitee for any claims made against Indemnitee by reason of insurance with reputable insurance companies providing the officers and directors of the Company with coverage for losses from wrongful acts, or to ensure the Company’s performance of its indemnification obligations under this Agreement. Among other considerations, the Company will weigh the costs of obtaining such insurance coverage against the protection afforded by such coverage. In Indemnitee’s Corporate Status. For so long as Indemnitee shall have Corporate Status, Indemnitee shall be named as an insured in all policies of director and officer liability insurance, Indemnitee shall be named as an insured insurance in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s directors, if Indemnitee is a director; or officers and directors. If, at the time of the Company’s officers, if Indemnitee is not receipt of a director notice of a claim pursuant to the terms of this Agreement, the Company but is an officer. Notwithstanding the foregoing, has director and officer liability insurance in effect, the Company shall have no obligation to obtain or maintain give prompt notice of the commencement of such insurance if the Company determines in good faith that such insurance is not reasonably available, if the premium costs for such insurance are disproportionate proceeding to the amount insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of coverage provided, if Indemnitee, all amounts payable as a result of such proceeding in accordance with the coverage provided by terms of such insurance is limited by exclusions so as to provide an insufficient benefit, or if Indemnitee is covered by similar insurance maintained by a subsidiary or parent of the Company. policies. View More
Insurance. The Company shall, from time to time, make the good faith determination whether or not it is practicable for the Company to obtain and maintain a policy or policies of insurance with a reputable insurance companies company providing the officers and directors of the Company Indemnitee with coverage for losses from wrongful acts, or and to ensure the Company’s Company's performance of its indemnification obligations under this Agreement. Among other considerations, the Company will weigh the cost...s of obtaining such insurance coverage against the protection afforded by such coverage. In all To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, managers, partners, officers, employees, agents or trustees of director and officer liability insurance, the Company or of any other Entity, Indemnitee shall be named as an insured covered by such policy or policies in such a manner as to provide Indemnitee the same rights and benefits as are accorded accordance with its or their terms to the most favorably insured maximum extent of the Company’s directors, if Indemnitee is a director; coverage available for any such director, manager, partner, officer, employee, agent or of the Company’s officers, if Indemnitee is not a director of the Company but is an officer. trustee under such policy or policies. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain such insurance if the Company determines in good faith that such insurance is not reasonably available, if the premium costs for such insurance are disproportionate to the amount of coverage provided, or if the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, or if Indemnitee is covered by similar insurance maintained by a subsidiary or parent of the Company. benefit. View More
Insurance. The Company shall, from time to time, make the good faith determination whether or not it is practicable for the Company to obtain and maintain a policy or policies of insurance with a reputable insurance companies company providing the officers and directors of the Company Indemnitee with coverage for losses from wrongful acts, or to ensure the Company’s performance of its indemnification obligations under this Agreement. Among other considerations, the Company will weigh the costs of obtaining... such insurance coverage against the protection afforded by such coverage. In acts. For so long as Indemnitee shall have Corporate Status, Indemnitee shall be named as an insured in all policies of director and officer liability insurance, Indemnitee shall be named as an insured insurance in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s directors, if Indemnitee is a director; or officers and directors. If, at the time of the Company’s officers, if Indemnitee is not receipt of a notice of a claim pursuant to the terms of this Agreement, the Company has director and officer liability insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company but is an officer. shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain such insurance if the Company determines in good faith that such insurance is not reasonably available, if the premium costs for such insurance are disproportionate to the amount of coverage provided, or if the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, or if benefit. 6 15. No Duplication of Payments. The Company shall not be liable under this Agreement to make any payment in connection with any claim made against Indemnitee is covered by similar to the extent Indemnitee has otherwise actually received payment under any insurance maintained by a subsidiary or parent policy, provision of the Company. Certificate or the Bylaws or otherwise of the amounts otherwise indemnifiable hereunder. The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee as a result of the Indemnitee’s Corporate Status with an Entity other than the Company shall be reduced by any amount Indemnitee has actually received as indemnification or advancement of Expenses from such other Entity. View More
