Limitation of Liability; Indemnification; Business Opportunities. (a) At all times while the Purchaser Designated Director is serving as a member of the Board, and following any such Purchaser Designated Director’s death, resignation, removal or other cessation as a director in such former Purchaser Designated Director’s capacity as a former director, the Purchaser Designated Director shall be entitled to (i) the same modification and restriction of traditional fiduciary duties, (ii) the same safe harbors for resolving conflicts of interest transactions, and (iii) all rights to indemnification and exculpation, in each case, as are then made available to any other member of the Board.
Appears in 3 contracts
Samples: Representation and Standstill Agreement (Breitburn Energy Partners LP), Series B Preferred Unit Purchase Agreement (Breitburn Energy Partners LP), Purchase Agreement (Breitburn Energy Partners LP)
Limitation of Liability; Indemnification; Business Opportunities. (a) At all times while the Purchaser Designated Director is serving as a member of the Board, and following any such Purchaser Designated Director’s death, resignation, removal or other cessation as a director in such former Purchaser Designated Director’s capacity as a former director, the Purchaser Designated Director shall be entitled to (i) the same modification and restriction of traditional fiduciary duties, (ii) the same safe harbors for resolving conflicts of interest transactions, transactions and (iii) all rights to indemnification and exculpation, in each case, as are then made available to any other member of the Board.
Appears in 2 contracts
Samples: Board Representation and Standstill Agreement (Crestwood Equity Partners LP), Board Representation and Standstill Agreement (Crestwood Midstream Partners LP)
Limitation of Liability; Indemnification; Business Opportunities. (a) At a)At all times while the each Purchaser Designated Director is serving as a member of the Board, and following any such Purchaser Designated Director’s death, resignation, removal or other cessation as a director in such former Purchaser Designated Director’s capacity as a former director, the such Purchaser Designated Director shall be entitled to (i) the same modification and restriction of traditional fiduciary duties, (ii) the same safe harbors for resolving conflicts of interest transactions, transactions and (iii) all rights to indemnification and exculpation, in each case, as are then made available to any other member of the Board.
Appears in 2 contracts
Samples: Board Representation and Standstill Agreement (Sanchez Production Partners LP), Purchase Agreement (Sanchez Production Partners LP)
