Common use of Indirect Action Clause in Contracts

Indirect Action. (a) It is of the essence to this Agreement that no Member nor the Sponsor be permitted to do indirectly — by the use of Affiliates, agents, agreements, contracts, reciprocal business dealings or any other means — that which this Agreement provides that such Member or the Sponsor not do directly. Furthermore, it is the express intent of all Members and the Sponsor that all Members and the Sponsor shall comply in all respects with the substantive purposes of this Agreement and that technical compliance shall constitute a breach hereof to the extent that it contravenes or does not fully achieve such substantive purposes. (b) The prohibition on indirect action in Section 8.17(a) shall in no respect be deemed to be violated by the Sponsor causing the Platform to pay the expenses of the type enumerated in Article VI.

Indirect Action. (a) It is of the essence to this Agreement that no Member nor the Sponsor be permitted to do indirectly — -- by the use of Affiliates, agents, agreements, contracts, reciprocal business dealings or any other means — -- that which this Agreement provides that such Member or the Sponsor not do directly. Furthermore, it is the express intent of all Members and the Sponsor that all Members and the Sponsor shall comply in all respects with the substantive purposes of this Agreement and that technical compliance shall constitute a breach hereof to the extent that it contravenes or does not fully achieve such substantive purposes. (b) The prohibition on indirect action in Section 8.17(a) shall in no respect be deemed to be violated by the Sponsor causing the Platform to pay the expenses of the type enumerated in Article VI.

Indirect Action. (a) It is of the essence to this Agreement that no Member nor the Sponsor be permitted to do indirectly — -- by the use of Affiliates, agents, agreements, contracts, reciprocal business dealings or any other means — -- that which this Agreement provides that such Member or the Sponsor not do directly. Furthermore, it is the express intent of all Members and the Sponsor that all Members and the Sponsor shall comply in all respects with the substantive purposes of this Agreement and that technical compliance shall constitute a breach hereof to the extent that it contravenes or does not fully achieve such substantive purposes. (b) The prohibition on indirect action in Section 8.17(a) shall in no respect be deemed to be violated by the Sponsor causing the Platform to pay the expenses of the type enumerated in Article VIVI or by the Platform entering into "soft dollar" arrangements as contemplated by Section 2.3.