Liability Insurance Clause Example with 41 Variations from Business Contracts
This page contains Liability 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.
Liability Insurance. For the duration of Indemnitee's service as a director or officer of the Company, and thereafter for so long as Indemnitee shall be subject to any pending Claim relating to an Indemnifiable Event, the Company shall use commercially reasonable efforts (taking into account the scope and amount of coverage available relative to the cost thereof) to maintain in effect policies of directors' and officers' liability insurance providing coverage that is at least substantially comparable in scope and am...ount to that provided by the Company's current policies of directors' and officers' liability insurance. In all policies of directors' and officers' liability insurance maintained by the Company, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are provided to the most favorably insured of the Company's directors, if Indemnitee is a director, or of the Company's officers, if Indemnitee is an officer (and not a director) by such policy. Upon request, the Company will provide to Indemnitee copies of all directors' and officers' liability insurance applications, binders, policies, declarations, endorsements and other related materials.View More
Variations of a "Liability Insurance" Clause from Business Contracts
Liability Insurance. For To the duration of Indemnitee's service as a director extent the Company maintains liability insurance applicable to directors, officers, employees, control persons, agents or officer of fiduciaries, the Company, and thereafter for so long as Indemnitee Indemnitees shall be subject to any pending Claim relating to an Indemnifiable Event, the Company shall use commercially reasonable efforts (taking into account the scope and amount of coverage available relative to the cost thereof) to maint...ain in effect covered by such policies of directors' and officers' liability insurance providing coverage that is at least substantially comparable in scope and amount to that provided by the Company's current policies of directors' and officers' liability insurance. In all policies of directors' and officers' liability insurance maintained by the Company, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the Indemnitees the same rights and benefits as are provided accorded to the most favorably insured (i) of the Company's directors, if the Indemnitee is a director, or (ii) of the Company's officers, if the Indemnitee is not a director of the Company but is an officer; or (iii) of the Company's key employees, controlling persons, agents or fiduciaries, if the Indemnitee is not an officer (and not or director but is a director) key employee, agent, control person or fiduciary or (iv) of the Fund entities covered by such policy. Upon request, policies, if the Company will provide to Indemnitee copies of all directors' and officers' liability insurance applications, binders, policies, declarations, endorsements and other related materials. is the Fund. View More
Liability Insurance. For To the duration of Indemnitee's service as a director extent the Company maintains liability insurance applicable to directors, officers, employees, control persons, agents or officer of fiduciaries, the Company, and thereafter for so long as Indemnitee shall be subject to any pending Claim relating to an Indemnifiable Event, the Company shall use commercially reasonable efforts (taking into account the scope and amount of coverage available relative to the cost thereof) to maintain in effec...t covered by such policies of directors' and officers' liability insurance providing coverage that is at least substantially comparable in scope and amount to that provided by the Company's current policies of directors' and officers' liability insurance. In all policies of directors' and officers' liability insurance maintained by the Company, Indemnitee shall be named as an insured in such a manner as to provide the Indemnitee the same rights and benefits as are provided accorded to the most favorably insured (i) of the Company's directors, if the Indemnitee is a director, or (ii) of the Company's officers, if the Indemnitee is not a director of the Company but is an officer; or (iii) of the Company's key employees, controlling persons, agents or fiduciaries, if the Indemnitee is not an officer (and not or director but is a director) by such policy. Upon request, the Company will provide to Indemnitee copies of all directors' and officers' liability insurance applications, binders, policies, declarations, endorsements and other related materials. key employee, agent, control person or fiduciary. View More
Liability Insurance. For To the duration of Indemnitee's service as a director extent the Company maintains liability insurance applicable to directors, officers, employees, control persons, agents or officer of the Company, and thereafter for so long as fiduciaries, Indemnitee shall be subject to any pending Claim relating to an Indemnifiable Event, the Company shall use commercially reasonable efforts (taking into account the scope and amount of coverage available relative to the cost thereof) to maintain in effec...t covered by such policies of directors' and officers' liability insurance providing coverage that is at least substantially comparable in scope and amount to that provided by the Company's current policies of directors' and officers' liability insurance. In all policies of directors' and officers' liability insurance maintained by the Company, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are provided accorded to the most favorably insured of the Company's directors, if the Indemnitee is a director, or of the Company's officers, if such Indemnitee is not a director of the Company but is an officer; or of the Company's key employees, controlling persons, agents or fiduciaries, if such Indemnitee is not an officer (and not or director but is a director) by such policy. Upon request, key employee, agent, control person, or fiduciary as the Company will provide to Indemnitee copies of all directors' and officers' liability insurance applications, binders, policies, declarations, endorsements and other related materials. case may be. View More
Liability Insurance. For (a) To the duration of Indemnitee's service as a director or officer of the Company, and thereafter for so long as Indemnitee shall be subject to any pending Claim relating to an Indemnifiable Event, extent the Company shall use commercially reasonable efforts (taking into account the scope and amount of coverage available relative to the cost thereof) to maintain in effect maintains an insurance policy or policies of providing directors' and officers' liability insurance providing coverage ...that is at least substantially comparable in scope and amount to that provided by insurance, the Company's current policies of directors' and officers' liability insurance. In all policies of directors' and officers' liability insurance maintained by the Company, Indemnitee shall be named as an insured covered by such policy or policies, in such a manner as accordance with its or their terms, to the maximum extent of the coverage available for the Company directors or officers. (b) The Company hereby acknowledges that Indemnitee has certain rights to indemnification, advancement of expenses and/or insurance provided by [Name of Fund/Sponsor] and certain of [its][their] affiliates (collectively, the "Fund Indemnitors"). The Company hereby agrees (i) that it is the indemnitor of first resort with respect to Indemnifiable Expenses (i.e., its obligations to Indemnitee are primary and any obligation of the Fund Indemnitors to advance Indemnifiable Expenses or to provide Indemnitee indemnification for the same rights Indemnifiable Expenses incurred by Indemnitee are secondary), (ii) that it shall be required to advance the full amount of Indemnifiable Expenses incurred by Indemnitee and benefits as are provided shall be liable for the full amount of all Indemnifiable Expenses to the most favorably insured extent legally permitted and as required by the terms of this Agreement and the organizational documents of the Company's directors, if Company (or any other agreement between the Company and Indemnitee), without regard to any rights Indemnitee is may have against the Fund Indemnitors, and, (iii) that it irrevocably waives, relinquishes and releases the Fund Indemnitors 7 from any and all claims against the Fund Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. The Company further agrees that no advancement or payment by the Fund Indemnitors on behalf of Indemnitee with respect to any Claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and the Fund Indemnitors shall have a director, right of contribution and/or be subrogated to the extent of such advancement or payment to all of the Company's officers, if rights of recovery of Indemnitee is an officer (and not a director) against the Company. The Company and Indemnitee agree that the Fund Indemnitors are express third party beneficiaries of the terms of this Section 9(b).1 11. Period of Limitations. No legal action shall be brought and no cause of action shall be asserted by such policy. Upon request, or in the right of the Company will provide against the Indemnitee, the Indemnitee's spouse, heirs, executors or personal or legal representatives after the expiration of two years from the date of accrual of such cause of action, and any claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the timely filing of a legal action within such two-year period; provided, however, that if any shorter period of limitations is otherwise applicable to Indemnitee copies any such cause of all directors' and officers' liability insurance applications, binders, policies, declarations, endorsements and other related materials. action such shorter period shall govern. View More
Liability Insurance. For During any period of time Indemnitee is entitled to indemnification rights under this Agreement, the duration of Indemnitee's service as a director Company shall maintain liability insurance applicable to directors, officers, employees, control persons, agents or officer of the Company, and thereafter for so long as fiduciaries, Indemnitee shall be subject to any pending Claim relating to an Indemnifiable Event, the Company shall use commercially reasonable efforts (taking into account the s...cope and amount of coverage available relative to the cost thereof) to maintain in effect covered by such policies of directors' and officers' liability insurance providing coverage that is at least substantially comparable in scope and amount to that provided by the Company's current policies of directors' and officers' liability insurance. In all policies of directors' and officers' liability insurance maintained by the Company, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are provided 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; or of the Company's key employees, controlling persons, agents or fiduciaries, if Indemnitee is not an officer (and not or director but is a director) by such policy. Upon request, the Company will provide to Indemnitee copies of all directors' and officers' key employee, agent, control person, or fiduciary. Said liability insurance applications, binders, policies, declarations, endorsements shall provide coverage amounts of no less than $3 million and other related materials. shall be held with an insurance carrier which the Board believes is of financially sound condition. View More
Liability Insurance. For To the duration of Indemnitee's service as a director extent the Company maintains liability insurance applicable to directors, officers, employees, agents or officer of the Company, and thereafter for so long as fiduciaries, Indemnitee shall be subject to any pending Claim relating to an Indemnifiable Event, the Company shall use commercially reasonable efforts (taking into account the scope and amount of coverage available relative to the cost thereof) to maintain in effect covered by such... policies of directors' and officers' liability insurance providing coverage that is at least substantially comparable in scope and amount to that provided by the Company's current policies of directors' and officers' liability insurance. In all policies of directors' and officers' liability insurance maintained by the Company, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are provided accorded to the most favorably insured of the Company's directors, if Indemnitee is a director, director; 4 or of the Company's officers, if Indemnitee is not a director of the Company but is an officer; or of the Company's key employees, agents or fiduciaries, if Indemnitee is not an officer (and not or director but is a director) by such policy. Upon request, the Company will provide to Indemnitee copies of all directors' and officers' liability insurance applications, binders, policies, declarations, endorsements and other related materials. key employee, agent or fiduciary. View More
Liability Insurance. For To the duration of Indemnitee's service as a director extent the Company maintains liability insurance applicable to directors, officers, employees, agents or officer of the Company, and thereafter for so long as fiduciaries, Indemnitee shall be subject to any pending Claim relating to an Indemnifiable Event, the Company shall use commercially reasonable efforts (taking into account the scope and amount of coverage available relative to the cost thereof) to maintain in effect covered by such... policies of directors' and officers' liability insurance providing coverage that is at least substantially comparable in scope and amount to that provided by the Company's current policies of directors' and officers' liability insurance. In all policies of directors' and officers' liability insurance maintained by the Company, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are provided to the most favorably insured of the Company's directors, if Indemnitee is a director, director; or of the Company's officers, if Indemnitee is not a director of the Company but is an officer; or of the Company's key employees, agents or fiduciaries, if Indemnitee is not an officer (and not or director but is a director) by such policy. Upon request, the Company will provide to Indemnitee copies of all directors' and officers' liability insurance applications, binders, policies, declarations, endorsements and other related materials. key employee, agent or fiduciary. View More
Liability Insurance. For To the duration of Indemnitee's service as a director extent the Company maintains liability insurance applicable to directors, officers, employees, agents or officer of the Company, and thereafter for so long as fiduciaries, each Indemnitee shall be subject to any pending Claim relating to an Indemnifiable Event, the Company shall use commercially reasonable efforts (taking into account the scope and amount of coverage available relative to the cost thereof) to maintain in effect covered by... such policies of directors' and officers' liability insurance providing coverage that is at least substantially comparable in scope and amount to that provided by the Company's current policies of directors' and officers' liability insurance. In all policies of directors' and officers' liability insurance maintained by the Company, Indemnitee shall be named as an insured in such a manner as to provide such Indemnitee the same rights and benefits as are provided to the most favorably insured of the Company's directors, if Indemnitee is a director, director; or of the Company's officers, if Indemnitee is not a director of the Company but is an officer; or one of the Company's key employees, agents or other fiduciaries, if Indemnitee is not an officer (and not or director but is a director) by such policy. Upon request, the Company will provide to Indemnitee copies of all directors' and officers' liability insurance applications, binders, policies, declarations, endorsements and key employee, agent or other related materials. fiduciary. View More
Liability Insurance. For To the duration of Indemnitee's service as a director extent the Company maintains liability insurance applicable to directors, officers, employees, agents or officer of the Company, and thereafter for so long as fiduciaries, Indemnitee shall be subject to any pending Claim relating to an Indemnifiable Event, the Company shall use commercially reasonable efforts (taking into account the scope and amount of coverage available relative to the cost thereof) to maintain in effect covered by such... policies of directors' and officers' liability insurance providing coverage that is at least substantially comparable in scope and amount to that provided by the Company's current policies of directors' and officers' liability insurance. In all policies of directors' and officers' liability insurance maintained by the Company, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are 9. provided to the most favorably insured of the Company's directors, directors who are not employees of the Company, if Indemnitee is a director, director who is not employed by the Company; or of the Company's officers, if Indemnitee is a director of the Company and is also employed by the Company, or is not a director of the Company but is an officer; or in the Company's sole discretion, if Indemnitee is not an officer (and not a director) by such policy. Upon request, the Company will provide to Indemnitee copies of all directors' and officers' liability insurance applications, binders, policies, declarations, endorsements and other related materials. or director but is an employee, agent or fiduciary. View More
Liability Insurance. For To the duration of Indemnitee's service as a director extent the Company maintains liability insurance applicable to directors, officers, employees, agents or officer of the Company, and thereafter for so long as fiduciaries, Indemnitee shall be subject to any pending Claim relating to an Indemnifiable Event, the Company shall use commercially reasonable efforts (taking into account the scope and amount of coverage available relative to the cost thereof) to maintain in effect covered by such... policies of directors' and officers' liability insurance providing coverage that is at least substantially comparable in scope and amount to that provided by the Company's current policies of directors' and officers' liability insurance. In all policies of directors' and officers' liability insurance maintained by the Company, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are provided to the most favorably insured of the Company's directors, directors who are not employees of the Company, if Indemnitee is a director, director who is not employed by the Company; or of the Company's officers, if Indemnitee is a director of the Company and is also employed by the Company, or is 9 not a director of the Company but is an officer; or in the Company's sole discretion, if Indemnitee is not an officer (and not a director) by such policy. Upon request, the Company will provide to Indemnitee copies of all directors' and officers' liability insurance applications, binders, policies, declarations, endorsements and other related materials. or director but is an employee, agent or fiduciary. View More
