Common use of Limitation of Actions and Release of Claims Clause in Contracts

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. To the extent permitted by applicable law, no No legal action shall be brought and no course cause of action shall be asserted by or on behalf of the Corporation against the Indemnified Party Party, his estate, executors, administrators, legal representatives or lawful heirs after the expiration of two years from the date of the Indemnified Party’s ceasing Party ceased (for any reason) to act as be 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 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 yearperiodtwo-year period.

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 yearperiodyear period.

Limitation of Actions and Release of Claims. To the extent permitted by applicable law, no No legal action shall be brought and no course cause of action shall be asserted by or on behalf of the Corporation or any Body Corporate against the Indemnified Party after the expiration of two years from the date of the Indemnified Party’s ceasing Party ceased (for any reason) to act as be a director or and/or officer of the Corporation or a directorBody Corporate, 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 or of any Body Corporate shall be extinguished and the Indemnified Party be deemed released therefrom absolutely absolutely, unless asserted by the commencement of legal action in a court of competent jurisdiction within such two yearperiodtwo-year period.

Limitation of Actions and Release of Claims. To the extent permitted by applicable law, no No legal action shall be brought and no course cause of action shall be asserted by or on behalf of the Corporation or any Corporation Affiliate against the Indemnified Party Party, after the expiration of two years from the date of the Indemnified Party’s ceasing Party ceased (for any reason) to act as be a director or officer of the Corporation or a directorCorporation Affiliate, officer or similar capacity of an Entity at the Corporation’s request as applicable, and the Corporation agrees that any claim or cause of action of the Corporation or of any Corporation Affiliate 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 yearperiodtwo-year period.

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 (2) years from the date of the Indemnified Party’s his/her ceasing to act as a director or officer of the Corporation or a director, officer or similar capacity of an Entity another entity at the Corporation’s request of the Corporation 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(2) year period.