Acquit Company Clause Samples

The 'Acquit Company' clause serves to release or absolve the company from certain liabilities or claims. In practice, this clause may specify that the company is not responsible for damages, losses, or legal actions arising from particular events or actions, such as those caused by third parties or unforeseeable circumstances. Its core function is to protect the company from legal or financial responsibility in defined situations, thereby allocating risk and limiting potential exposure to claims.
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Acquit Company. In the absence of written notice to the Company of any Assignment of a Membership Interest, any payment by the Company to the assigning Member (or the assigning Member’s successor in interest) shall acquit the Company of liability to the extent of such payment to any other Person who may have any interest in such payment by reason of an Assignment by the Member, whether by actual Assignment or by operation of law.
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Acquit Company. Until such time as a written assignment that conforms to all requirements of this Article 9 has been received by and recorded on the books of the Company, any payment by the Company to an assigning Member or his, her or its executors, administrators, or representatives shall acquit the Company of liability to the extent of such payments from any other Person who may have an interest in such payment by reason of an assignment by the Member, such Member's death, or otherwise.
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Acquit Company. 22 14.6 New Members Bound by Agreement..............................22 14.7
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Acquit Company. Until such time as a written assignment has been received by and recorded on the books of the Company, any payment by the Company to an assigning Member shall acquit the Company of liability to the extent of such payments from any other person who may have an interest in such payment by reason of an assignment by the Member.
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Acquit Company. In the absence of written notice to the Company of any assignment of a Membership Interest, any payment by the Company to the assigning Member (or the assigning Member's successor in interest) shall acquit the Company of liability to the extent of such payment to any other Person who may have any interest in such payment by reason of an assignment by the Member, whether by actual assignment or operation of law.
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Acquit Company. Until such time as a written assignment has been received by and recorded on the books of the Company, any payment by the Company to an assigning Member shall acquit the Company of liability to the extent of such payments from any other person who may have an interest in such payment by reason of an assignment by the Member.
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Related to Acquit Company

  • Investment Company; Public Utility Holding Company Neither the Company nor any Subsidiary is an "investment company" or a company "controlled" by an "investment company" within the meaning of the Investment Company Act of 1940, as amended, or a "public utility holding company" within the meaning of the Public Utility Holding Company Act of 1935, as amended.

  • Subsidiary For purposes of this Agreement, the term “subsidiary” means any corporation or limited liability company of which more than 50% of the outstanding voting securities or equity interests are owned, directly or indirectly, by the Company and one or more of its subsidiaries, and any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary.

  • Wholly Owned Subsidiary As to Borrower, any Subsidiary of Borrower that is directly or indirectly owned 100% by Borrower.

  • Subsidiaries All of the direct and indirect subsidiaries of the Company are set forth on Schedule 3.1(a). The Company owns, directly or indirectly, all of the capital stock or other equity interests of each Subsidiary free and clear of any Liens, and all of the issued and outstanding shares of capital stock of each Subsidiary are validly issued and are fully paid, non-assessable and free of preemptive and similar rights to subscribe for or purchase securities. If the Company has no subsidiaries, all other references to the Subsidiaries or any of them in the Transaction Documents shall be disregarded.

  • Successor Investment Company Unless this Agreement has been terminated in accordance with Paragraph 11, the terms and provisions of this Agreement shall become automatically applicable to any investment company which is a successor to the Trust as a result of reorganization, recapitalization or change of domicile.