Limitation of Actions and Release of Claims. No proceeding shall be brought and no cause of action shall be asserted by or on behalf of the Company or any subsidiary against the Indemnitee, his or her spouse, heirs, estate, executors or administrators after the expiration of one year from the act or omission of the Indemnitee upon which such proceeding is based; however, in a case where the Indemnitee fraudulently conceals the facts underlying such cause of action, no proceeding shall be brought and no cause of action shall be asserted after the expiration of one year from the earlier of (i) the date the Company or any subsidiary of the Company discovers such facts, or (ii) the date the Company or any subsidiary of the Company could have discovered such facts by the exercise of reasonable diligence. Any claim or cause of action of the Company or any subsidiary of the Company, including claims predicated upon the negligent act or omission of the Indemnitee, shall be extinguished and deemed released unless asserted by filing of a legal action within such period. This Section 9 shall not apply to any cause of action which has accrued on the date hereof and of which the Indemnitee is aware on the date hereof, but as to which the Company has no actual knowledge apart from the Indemnitee’s knowledge.
Limitation of Actions and Release of Claims. To the extent permitted by applicable law, no legal action shall be brought and no course of action shall be asserted by or on behalf of the Corporation against the Indemnified Party after the expiration of two years from the date of the Indemnified Party’s ceasing to act as a director or officer of the Corporation or a director, officer or similar capacity of an Entity at the Corporation’s request and the Corporation agrees that any claim or cause of action of the Corporation shall be extinguished and the Indemnified Party be deemed released therefrom absolutely unless asserted by the commencement of legal action in a court of competent jurisdiction within such two yearperiod.
Limitation of Actions and Release of Claims. No legal action shall be brought and no cause of action shall be asserted by or on behalf of Overseas or any Affiliate of Overseas against Indemnitee, his spouse, heirs, executors or administrators after the expiration of two (2) years from the date Indemnitee ceases (for any reason) to serve in any one or more of the capacities covered by this Agreement, and any claim or cause of action of Overseas or any Affiliate of Overseas shall be extinguished and deemed released unless asserted by filing of a legal action within such two (2) year period; provided, however, that nothing in this Section 9 shall be deemed to limit or prevent any legal action (or to release any claim) based on fraud or criminal misconduct of Indemnitee which is not discovered by Overseas or the applicable Affiliate of Overseas until after the expiration of such two (2) year period.
Limitation of Actions and Release of Claims. No legal action shall be brought and no cause of action shall be asserted by or on behalf of the Company (or any of its subsidiaries) against the Director, his spouse, heirs, executors, personal representative or administrators after the expiration of twelve (12) months from the date the Director ceases (for any reason) to be a director or officer of the Company, and any claim or cause of action of the Company (or any of its subsidiaries) shall be extinguished and deemed released unless asserted by filing of a legal action within such twelve-month period.
Limitation of Actions and Release of Claims. No legal action shall be brought and no cause of action shall be asserted by or on behalf of the Corporation against the Indemnified Party, his estate, executors, administrators, legal representatives or lawful heirs after the expiration of two years from the date the Indemnified Party ceased (for any reason) to be a director or officer of the Corporation or Affiliate and the Corporation agrees that any claim or cause of action of the Corporation shall be extinguished and the Indemnified Party, his estate, executors, administrators, legal representatives and lawful heirs deemed released therefrom absolutely unless asserted by the commencement of legal action in a court of competent jurisdiction within such two-year period.
Limitation of Actions and Release of Claims. No legal action shall be brought and no cause of action shall be asserted by or on behalf of the Company or any Affiliate of the Company against Indemnitee, his or her spouse, heirs, executors or administrators after the expiration of two years from the date of accrual of such cause of action, and any claim or cause of action of the Company or its Affiliate shall be extinguished and deemed released unless asserted by filing of a legal action within such two (2) year period.
Limitation of Actions and Release of Claims. Notwithstanding anything to the contrary contained herein, no legal action shall be brought and no cause of action shall be asserted by or on behalf of Employer, any affiliate or subsidiary of Employer or any other enterprise that Executive was serving as a director, officer, employee or agent at the request of Employer against Executive, or Executive's spouse, heirs, executors of administrators after the expiration of two years from the date Executive ceases (for any reason) to serve in any one or more of the capacities covered by this Agreement, and any claim or cause of action of Employer, its affiliates or subsidiaries or any other enterprise shall be extinguished and deemed released unless asserted by the filing of a legal action within the two-year period.
Limitation of Actions and Release of Claims. No legal action shall be brought and no cause of action shall be asserted by or on behalf of the COMPANY or any Affiliate against INDEMNITEE, his spouse, heirs, executors or administrators after the expiration of two years from the date INDEMNITEE ceases (for any reason) to serve in any one or more of the capacities covered by this Agreement, and any claim or cause of action by or on behalf of the COMPANY or any Affiliate shall be extinguished and deemed released unless asserted by filing of a legal action within such two-year period.
Limitation of Actions and Release of Claims. No Proceeding shall be brought and no cause of action shall be asserted by or on behalf of the Company or any subsidiary against the Indemnitee, the Indemnitee's spouse, heirs, estate, executors or administrators after the expiration of two years from the earlier of (i) the date the Company or any subsidiary of the Company discovers the facts underlying such cause of action, or (ii) the date the Company or any subsidiary of the Company could have discovered such facts by the exercise of reasonable diligence; provided, however, this sentence shall not be deemed to waive or toll any statute of limitations that otherwise might apply. Any claim or cause of action of the Company or any subsidiary of the Company, including claims predicated upon the negligent act or omission of the Indemnitee, shall be extinguished and deemed released unless asserted by filing of a legal action within such period. This section shall not apply to any cause of action which has accrued on the date hereof and of which the Indemnitee is aware on the date hereof, but as to which the Company has no actual knowledge apart from the Indemnitee's knowledge.
Limitation of Actions and Release of Claims. No legal action shall be brought and no cause of action shall be asserted by or on behalf of the Company or any other corporation, subsidiary, partnership, joint venture, trust or other enterprise of which Indemnitee is serving at the request of the Company as an officer, director, employee, or agent against Indemnitee, his/her spouse, heirs, executors or administrators after the expiration of two years from the date Indemnitee ceases (for any reason) to serve in any one or more of the capacities covered by this agreement, and any claim or cause of action of the Company or its subsidiaries shall be extinguished and deemed released unless asserted by filing of a legal action within such two-year period.
