Common use of Discharge of Directors Clause in Contracts

Discharge of Directors. Purchaser shall procure that, at the first shareholders’ meeting or otherwise whenever the questions of discharge is raised after the Closing, each member and deputy member of the board and, where applicable, the managing director of each Acquired Company is discharged to the fullest extent permitted by law from any liability as a member or deputy member of the board or managing director, as the case may be, in relation to the period prior to the Closing provided that the auditors do not recommend otherwise.

Discharge of Directors. Purchaser shall procure that, at the first shareholders’ ' meeting or otherwise whenever the questions question of discharge is raised after the Closing, each member and deputy member of the board and, where applicable, the managing director of each Acquired Company is discharged to the fullest extent permitted by law in full from any liability as a member or deputy member of the board or managing director, as the case may be, in relation to the period prior to the Closing Closing, provided that the auditors do not recommend otherwiseauditor of such Acquired Company has recommended such discharge.

Discharge of Directors. Purchaser shall procure that, at the first shareholders’ meeting or otherwise whenever the questions question of discharge is raised after the Closing, each member and deputy member of the board and, where applicable, the managing director of each Acquired Company is discharged to the fullest extent permitted by law in full from any liability as a member or deputy member of the board or managing director, as the case may be, in relation to the period prior to the Closing Closing, provided that the auditors do not recommend otherwiseauditor of such Acquired Company has recommended such discharge.