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

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 To the extent permitted by applicable law (including the Act), no legal action shall be brought and no cause course of action shall be asserted by or on behalf of the Corporation against the Indemnified Party, or his estate, executors, administratorsor her heirs, legal representatives representatives, or lawful heirs their respective successors and assigns, after the expiration of two years from the date the Indemnified Party ceased (for any reason) to be a director or and/or officer of the Corporation or Affiliate any Subsidiary, and the Corporation agrees that any claim or cause of action of the Corporation shall be extinguished and the Indemnified Party, Party and his estate, executors, administratorsor her heirs, legal representatives representatives, and lawful heirs their respective successors and assigns are deemed released therefrom absolutely unless asserted by the commencement of legal action in a court of competent jurisdiction within such two-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 Corporation or any Affiliate against the Indemnified Party, his estate, executors, administrators, legal representatives representatives, successors or lawful heirs after the expiration of two years from the date the Indemnified Party ceased (for any or no reason) to be a director or officer of the Corporation or an Affiliate and the Corporation agrees that any claim or cause of action of the Corporation or of any Affiliate shall be extinguished and the Indemnified Party, his estate, executors, administrators, legal representatives representatives, successors 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 To the extent permitted by applicable law (including the Act), no legal action shall be brought and no cause course of action shall be asserted by or on behalf of the Corporation against the Indemnified Indemnified Party, and his estate, executors, administratorsheirs, legal representatives or lawful heirs and their respective successors and assigns, after the expiration of two years from the date the Indemnified Party ceased (for any reason) of his ceasing to be a director or officer and/or officer of any of the Corporation or Affiliate any Subsidiary, and the Corporation agrees that any claim or cause of action of the Corporation shall be extinguished and the Indemnified Party, Indemnified Party and his estate, executors, administratorsheirs, legal representatives representatives, and lawful heirs their respective successors and assigns are 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 To the extent permitted by applicable law (including the Business Corporations Act (Alberta)), no legal action shall be brought and no cause course of action shall be asserted by or on behalf of the Corporation Company against the Indemnified Party, and his estate, executors, successors, assigns, administrators, legal representatives or lawful heirs after the expiration of two years from the date the Indemnified Party ceased (for any reason) of his ceasing to be a director or and/or officer of any of the Corporation Company or Affiliate any Subsidiary and the Corporation Company agrees that any claim or cause of action of the Corporation Company shall be extinguished and the Indemnified Party, his estate, executors, successors, assigns, administrators, legal representatives and lawful heirs is deemed released therefrom absolutely unless asserted by the commencement of legal action in a court of competent jurisdiction within such two-year period.