|
DocuSign Envelope ID: E67DC299-98E1-4682-B281-3085AC9FC5B4
<br /> V. Newly Acquired Entity means any entity formed or acquired by the Named Insured during the Policy Period
<br /> and in which the Named Insured has more than 50% of the legal or beneficial interest, provided that if the trailing
<br /> 12 month revenues for such entity exceed 15% of the Named Insured's annual revenues for the same trailing 12
<br /> month period, then only if all of the following conditions are met:
<br /> 1. within 90 days of the formation of a Newly Acquired Entity, the Named Insured notifies the Insurer in
<br /> writing of the details of such merger, acquisition, or newly created joint venture or partnership;
<br /> 2. the Named Insured agrees to any changes in terms and conditions of this Policy related to the Newly
<br /> Acquired Entity including, but not limited to, the payment of additional premium, if any, charged by the
<br /> Insurer; and
<br /> 3. the Insurer has issued a written endorsement specifically noting the addition of the Newly Acquired Entity
<br /> as a covered Insured under this Policy.
<br /> W. Notice Requirements means the requirements described in Section VIII. of this Policy.
<br /> X. Policy Period means the length of time between the effective date shown in Item 2. of the Declarations and the
<br /> earlier of:
<br /> 1. the expiration date shown in Item 2. of the Declarations; or
<br /> 2. the cancellation date of this Policy.
<br /> Y. Privacy Law means a federal, state or foreign statute or regulation:
<br /> 1. requiring the Insured Entity to protect the confidentiality or security of Protected Information;
<br /> 2. requiring notice to a person or organization whose Protected Information was accessed or reasonably may
<br /> have been accessed by an unauthorized person; or
<br /> 3. governing the collection, use or storage of Protected Information by the Insured Entity.
<br /> Z. Professional Services means professional services performed for others by or on behalf of the Insured Entity
<br /> for a fee or other consideration, but does not include Technology Services, any services involving the creation,
<br /> development, sale, distribution, installation, licensing or manufacturing of Technology Products, or work or
<br /> activities performed by or on behalf of the Insured Entity or for the Insured Entity as an accountant, actuary,
<br /> attorney, architect, surveyor, health care provider, lawyer, insurance or real estate agent or broker, or civil or
<br /> structural engineer.
<br /> AA. Protected Information means the following information that an Insured has a legal obligation to safeguard,
<br /> protect or maintain in confidence:
<br /> 1. non-public individually identifiable information as defined by any federal, state, local or foreign statute, rule or
<br /> regulation;
<br /> 2. an individual's social security number, taxpayer identification number, unpublished telephone number, driver's
<br /> license number, state identification number, passport number, financial account number, credit card number,
<br /> debit card number or the magnetic strip information from a credit or debit card; and
<br /> 3. any trade secret, data, design, interpretation, forecast, formula, method, record, report or other item of
<br /> information of a third party that is not available to the general public.
<br /> BB. Regulatory Body means any federal, state, local or foreign governmental entity in such entity's regulatory or
<br /> official capacity.
<br /> CC.Retroactive Date means the date listed in Item 6. of the Declarations.
<br /> DD.Subsidiary means any entity in which the Named Insured as of the effective date of the Policy, either:
<br /> 1. directly or indirectly owns more than 50% of the issued and outstanding voting equity securities; or
<br /> 2. controls voting rights representing the present right to vote for election or to appoint more than 50% of the
<br /> directors or trustees.
<br /> EE. Supplemental Payments & Services means the amounts described in Section V. of this Policy.
<br /> TCM-POL-001 (01/19) Page 7 of 16
<br />
|