Common use of Effect of Federal Law Clause in Contracts

Effect of Federal Law. Both the Corporation and the Indemnitee acknowledge that in certain instances, federal law will override Delaware law and prohibit the Corporation from indemnifying its offices and directors. For example, the Corporation and Indemnitee acknowledge that the Securities and Exchange Commission has taken the position that indemnification is not permissible for liabilities arising under certain federal securities law, and federal law prohibits indemnification for certain violations of the Employee Retirement Income Security Act of 1974, as amended.

Effect of Federal Law. Both the Corporation and the Indemnitee acknowledge that in certain instances, federal law will override Delaware law and prohibit the Corporation from indemnifying its offices officers and directors. For example, the Corporation and Indemnitee acknowledge that the Securities and Exchange Commission has taken the position that indemnification is not permissible for liabilities arising under certain federal securities law, and federal law prohibits indemnification for certain violations of the Employee Retirement Income Security Act of 1974, as amended.

Effect of Federal Law. Both the Corporation and the Indemnitee indemnitee acknowledge that in certain instances, federal law will override Delaware law and prohibit the Corporation from indemnifying its offices officers and directors. For example, the Corporation and Indemnitee acknowledge that the Securities and Exchange Commission has taken the position that indemnification is not permissible for liabilities arising under certain federal securities lawlaws, and federal law prohibits indemnification for certain violations of the Employee Retirement Income Security Act of 1974, as amendedAct.

Effect of Federal Law. Both the Corporation Company and the Indemnitee acknowledge that in certain instances, federal law will override Delaware law and prohibit the Corporation Company from indemnifying its offices officers and directors. For example, the Corporation The Company and Indemnitee specifically acknowledge that the Securities and Exchange Commission has taken the position that indemnification is not permissible for liabilities arising under certain federal securities lawlaws, and federal law prohibits indemnification for certain violations of the Employee Retirement Income Security Act of 1974, as amendedAct.

Effect of Federal Law. Both the Corporation and the Indemnitee acknowledge that in certain instances, instances federal law will would override Delaware law and prohibit the Corporation from indemnifying its offices officers and directorsDirectors. In such case, the Corporation shall be released from its obligations hereunder to the extent its performance thereof is prohibited by federal law. For example, the Corporation and Indemnitee acknowledge that the Securities and Exchange Commission has taken the position that indemnification is not permissible for liabilities arising under certain federal securities lawlaws, and federal law prohibits indemnification for certain violations of the Employee Retirement Income Security Act of 1974, as amendedAct.

Effect of Federal Law. Both the Corporation Company and the Indemnitee indemnitee acknowledge that in certain instances, federal law will override Delaware law and prohibit the Corporation from indemnifying its offices and directors. For example, the Corporation and Indemnitee acknowledge that the Securities and Exchange Commission has taken the position that indemnification is not permissible for liabilities arising under certain federal securities law, and federal law prohibits indemnification for certain violations of the Employee Retirement Income Security Act of 1974, as amendedAct.

Effect of Federal Law. Both the Corporation Company and the Indemnitee acknowledge that in certain instances, federal law will override Delaware law and prohibit the Corporation from indemnifying its offices officers and directors. For example, the Corporation and Indemnitee acknowledge that the Securities and Exchange Commission has taken the position that indemnification is not permissible for liabilities arising under certain federal securities lawlaws, and federal law prohibits indemnification for certain violations of the Employee Retirement Income Security Act of 1974, as amendedAct.

Effect of Federal Law. Both the Corporation and the Indemnitee acknowledge that in certain instances, instances federal law will would override Delaware law and prohibit the Corporation from indemnifying its offices officers and directorsDirectors. In such case, the Corporation shall be released from its obligations hereunder to the extent its performance thereof is prohibited by federal law. For example, the Corporation and Indemnitee acknowledge that the Securities and Exchange Commission has taken the position that indemnification is not permissible for liabilities arising under certain federal securities lawlaws, and federal law prohibits indemnification indemnifications for certain violations of the Employee Retirement Income Security Act of 1974, as amendedAct.

Effect of Federal Law. Both the Corporation and the Indemnitee acknowledge that in certain instances, federal law will override Delaware law and prohibit the Corporation from indemnifying its offices officers and directors. For example, the Corporation and Indemnitee acknowledge that the Securities and Exchange Commission has taken the position that indemnification is not permissible for liabilities arising under certain federal securities lawlaws, and federal law prohibits indemnification for certain violations of the Employee Retirement Income Security Act of 1974, as amendedAct.

Effect of Federal Law. Both the Corporation and the Indemnitee acknowledge that in certain instances, federal law will override Delaware law and prohibit the Corporation from indemnifying its offices and directors. For example, the Corporation and Indemnitee acknowledge that the Securities and Exchange Commission has taken the position that indemnification is not permissible for liabilities arising under certain federal securities law, and federal law prohibits indemnification for certain violations of the Employee Retirement Income Security Act of 1974, as amendedAct.

Effect of Federal Law. Both the Corporation and the Indemnitee acknowledge that in certain instances, federal law will override Delaware law and prohibit the Corporation from indemnifying its offices officers and directorsdirectors and agree that compliance with federal law prohibiting such indemnification will not constitute a breach of this Agreement. For example, the Corporation and Indemnitee acknowledge that the Securities and Exchange Commission has taken the position that indemnification is not permissible for liabilities arising under certain federal securities lawlaws, and federal law prohibits indemnification for certain violations of the Employee Retirement Income Security Act of 1974, as amendedAct.

Effect of Federal Law. Both the Corporation Company and the Indemnitee acknowledge that in certain instances, federal law will override Delaware law and prohibit the Corporation from indemnifying its offices and directors. For example, the Corporation and Indemnitee acknowledge that the Securities and Exchange Commission has taken the position that indemnification is not permissible for liabilities arising under certain federal securities law, and federal law prohibits indemnification for certain violations of the Employee Retirement Income Security Act of 1974, as amendedAct.