Corporation Bound Clause Samples
The 'Corporation Bound' clause establishes that the corporation, as a legal entity, is formally obligated by the terms of the agreement. This means that actions, promises, or obligations made under the contract are enforceable against the corporation itself, rather than just its individual officers, directors, or shareholders. For example, if the corporation enters into a service contract, it is the corporation—not its employees or owners—that is responsible for fulfilling the contract's terms. This clause ensures that the correct party is held accountable, providing clarity and legal certainty for all involved.
Corporation Bound. If a determination shall have been made pursuant to Article VI of this Agreement that Indemnitee is entitled to indemnification, the Corporation shall be bound by such determination in any judicial proceeding or arbitration absent a prohibition of such indemnification under applicable law.
Corporation Bound. The Corporation confirms its knowledge of this Agreement and undertakes to carry out in good faith and be bound by the provisions of this Agreement to the full extent that it has the capacity and power at law to do so.
Corporation Bound. If a determination shall have been made or deemed to have been made pursuant to Section 4 of this Agreement that the Director is entitled to indemnification, the Corporation shall be bound by such determination in any judicial proceeding or arbitration absent (i) a misstatement by the Director of a material fact, in connection with the request for indemnification or a failure to disclose facts which would make Director's statement not materially misleading, or (ii) a prohibition of such indemnification under applicable law.
Corporation Bound. Each of the Parties hereto represents and warrants that: (i) it is a corporation duly organized, existing, and in good standing under the laws of its state of organization; (ii) it has all requisite legal and corporate power and authority to enter into this Agreement; (iii) when executed by the corporate officers whose names appear on the signature page hereof, this Agreement shall be a valid and binding obligation of the Parties enforceable in accordance with its terms, subject to laws of general application relating to bankruptcy, insolvency, and the relief of debtors; and (iv) the execution and delivery of this Agreement and consummation of the transactions contemplated hereby will not constitute a breach or default under any other agreement to which it is party or by which it is bound.
Corporation Bound. If a determination shall have been made or deemed to have been made pursuant to Section 12 of this Agreement that the Employee is entitled to indemnification, the