Common use of Non-Exclusivity; Nature and Extent of Rights Clause in Contracts

Non-Exclusivity; Nature and Extent of Rights. The rights to indemnification and advancement of expenses provided for in this Section 7.4 shall (i) not be deemed exclusive of any other rights, whether now existing or hereafter created, to which any indemnitee may be entitled under any agreement or the By-Laws (if adopted), vote of the Beneficiary or Trustees or otherwise, (ii) be deemed to create contractual rights in favor of each indemnitee who serves the Trust at any time while this Section 7.4 is in effect (and each such indemnitee shall be deemed to be so serving in reliance on the provisions of this Section 7.4), and (iii) continue as to each indemnitee who has ceased to have the status pursuant to which he was entitled or was denominated as entitled to indemnification under this Section 7.4 and shall also inure to the benefit of the heirs and legal representatives of each indemnitee. Any amendment or repeal of this Section 7.4 or adoption of any By-Law or provision of this Agreement which has the effect of limiting in any way the rights to indemnification or advancement of expenses provided for in this Section 7.4 shall operate prospectively only and shall not affect any action taken, or failure to act, by an indemnitee prior to the adoption of such amendment, repeal, By-Law, or other provision, nor shall any such changes affect the Statutory Trustee's rights hereunder without its prior written consent.

Appears in 2 contracts

Samples: Trust Agreement (Txi Transportation Co), Trust Agreement (Txi Transportation Co)

AutoNDA by SimpleDocs

Non-Exclusivity; Nature and Extent of Rights. The rights to indemnification and advancement of expenses provided for in this Section 7.4 Article Tenth shall (i) not be deemed exclusive of any other rights, whether now existing or hereafter created, to which any indemnitee may be entitled under any agreement agreement, provision in the Restated Certificate of Incorporation or Bylaws of the By-Laws (if adopted)Corporation, vote of the Beneficiary stockholders or Trustees disinterested directors or otherwise, (ii) be deemed to create contractual rights in favor of each indemnitee who serves the Trust Corporation at any time while this Section 7.4 10.5 is in effect (and each such indemnitee shall be deemed to be so serving in reliance on the provisions of this Section 7.410.5), and (iii) continue as to each indemnitee who has ceased to have the status pursuant to which he the indemnitee was entitled or was denominated as entitled to indemnification under this Section 7.4 Article Tenth and shall also inure to the benefit of the heirs and legal representatives of each indemniteeindemnitee and (iv) be applicable to Actions commenced after this Article Tenth becomes effective, whether arising from acts or omissions occurring before or after this Article Tenth becomes effective. Any amendment or repeal of this Section 7.4 Article Tenth or adoption of any By-Law Bylaw of the Corporation or other provision of this Agreement the Restated Certificate of Incorporation of the Corporation which has the effect of limiting in any way the rights to indemnification or advancement of expenses provided for in this Section 7.4 Article Tenth shall operate prospectively only and shall not affect any action taken, or any failure to act, by an indemnitee prior to the adoption of such amendment, repeal, By-Law, Bylaw or other provision, nor shall any such changes affect the Statutory Trustee's rights hereunder without its prior written consentprovision becoming effective.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Wiser Oil Co), Employment Agreement (Wiser Oil Co)

Non-Exclusivity; Nature and Extent of Rights. The rights to indemnification and advancement of expenses provided for in this Section 7.4 shall (i) not be deemed exclusive of any other rights, whether now existing or hereafter created, to which any indemnitee may be entitled under any agreement or the By-By Laws (if adopted), vote of the Beneficiary or Trustees or otherwise, (ii) be deemed to create contractual rights in favor of each indemnitee who serves the Trust at any time while this Section 7.4 is in effect (and each such indemnitee shall be deemed to be so serving in reliance on the provisions of this Section 7.4), and (iii) continue as to each indemnitee who has ceased to have the status pursuant to which he was entitled or was denominated as entitled to indemnification under this Section 7.4 and shall also inure to the benefit of the heirs and legal representatives of each indemnitee. Any amendment or repeal of this Section 7.4 or adoption of any By-Law ByLaw or provision of this Agreement which has the effect of limiting in any way the rights to indemnification or advancement of expenses provided for in this Section 7.4 shall operate prospectively only and shall not affect any action taken, or failure to act, by an indemnitee prior to the adoption of such amendment, repeal, By-Law, or other provision, nor shall any such changes affect the Statutory Trustee's rights hereunder without its prior written consent.

Appears in 1 contract

Samples: Trust Agreement (Txi Transportation Co)

Non-Exclusivity; Nature and Extent of Rights. The rights to indemnification and advancement and/or payment of expenses provided for in this Section 7.4 shall Article (i) shall not be deemed exclusive of any other rights, whether now existing or hereafter created, to which any indemnitee may be entitled under any agreement agreement, any provision of these Articles of Incorporation or the By-Laws (if adopted)Laws, any vote of the Beneficiary shareholders or Trustees directors or otherwise, (ii) shall be deemed to create contractual rights in favor of each indemnitee who serves the Trust Corporation at any time while this Section 7.4 Article is in effect (and each such indemnitee shall be deemed to be so serving in reliance on the provisions of this Section 7.4Article), and (iii) shall continue as to each indemnitee who has ceased to have the status pursuant to which he or she was entitled or was denominated as entitled to indemnification under this Section 7.4 Article and shall also inure to the benefit of the heirs and legal representatives of each indemnitee. Any amendment amendment, modification or repeal of this Section 7.4 Article or adoption of any provision of the Articles of Incorporation or By-Law or provision laws of this Agreement the Corporation which has the effect of limiting in any way the rights to indemnification or advancement of expenses provided for in this Section 7.4 Article shall operate prospectively only and shall not affect any action taken, or failure to act, by an indemnitee prior to such amendment, modification or repeal or the adoption of such amendment, repeal, By-Law, or other provision, nor shall any such changes affect the Statutory Trustee's rights hereunder without its prior written consent.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Philadelphia Suburban Corp)

Non-Exclusivity; Nature and Extent of Rights. The rights to indemnification and advancement of expenses provided for in this Section 7.4 shall (i) not be deemed exclusive of any other rights, whether now existing or or, hereafter created, to which any indemnitee may be entitled under any agreement or the By-Laws Bylaws (if adopted), vote of the Beneficiary Beneficial Owner or Trustees or otherwise, (ii) be deemed to create contractual rights in favor of each indemnitee Indemnitee who serves the Trust at any time while this Section 7.4 is in effect (and each such indemnitee shall be deemed to be so serving in reliance on the provisions of this Section 7.4), and (iii) continue as to each indemnitee who has ceased to have the status pursuant to which he was entitled or was denominated as entitled to indemnification under this Section 7.4 and shall also inure to the benefit of the heirs and legal representatives of each indemnitee. Any amendment or repeal of this Section 7.4 or the adoption of any By-Law Bylaw or provision of this Agreement which has the effect of limiting in any way the rights to indemnification or advancement of expenses provided for in this Section 7.4 shall operate prospectively only and shall not affect any action taken, taken or failure to act, by an indemnitee prior to the adoption of such amendment, repeal, By-Law, Bylaw or other provision, nor shall any such changes affect the Statutory Trustee's rights hereunder without its prior written consent.

Appears in 1 contract

Samples: Trust Agreement (OHI Asset (CT) Lender, LLC)

AutoNDA by SimpleDocs

Non-Exclusivity; Nature and Extent of Rights. The rights to indemnification and advancement of expenses provided for in this Section 7.4 shall (i) not be deemed exclusive of any other rights, whether now existing or hereafter created, to which any indemnitee may be entitled under any agreement or the By-By Laws (if adopted), vote of the Beneficiary or Trustees or otherwise, (ii) be deemed to create contractual rights in favor of each indemnitee who serves the Trust at any time while this Section 7.4 is in effect (and each such indemnitee shall be deemed to be so serving in reliance on the provisions of this Section 7.4), and (iii) continue as to each indemnitee who has ceased to have the status pursuant to which he was entitled or was denominated as entitled to indemnification under this Section 7.4 and shall also inure to the benefit of the heirs and legal representatives of each indemnitee. Any amendment or repeal of this Section 7.4 or adoption of any By-Law ByLaw or provision of this Agreement which has the effect of limiting in any way the rights to indemnification or advancement of expenses provided for in this Section 7.4 shall operate prospectively only and shall not affect any action taken, or failure to act, by an indemnitee prior to the adoption of such amendment, repeal, By-Law, or other provision, nor shall any such changes affect the Statutory Trustee's ’s rights hereunder without its prior written consent.

Appears in 1 contract

Samples: Trust Agreement (American Materials Transport, Inc.)

Non-Exclusivity; Nature and Extent of Rights. The rights to indemnification and advancement of expenses provided for in this Section 7.4 shall (i) not be deemed exclusive of any other rights, whether now existing or hereafter created, to which any indemnitee may be entitled under any agreement or the By-Laws Bylaws (if adopted), vote of the Beneficiary Beneficial Owner or Trustees or otherwise, (ii) be deemed to create contractual rights in favor of each indemnitee Indemnitee who serves the Trust at any time while this Section 7.4 is in effect (and each such indemnitee shall be deemed to be so serving in reliance on the provisions of this Section 7.4), and (iii) continue as to each indemnitee who has ceased to have the status pursuant to which he was entitled or was denominated as entitled to indemnification under this Section 7.4 and shall also inure to the benefit of the heirs and legal representatives of each indemnitee. Any amendment or repeal of this Section 7.4 or the adoption of any By-Law Bylaw or provision of this Agreement which has the effect of limiting in any way the rights to indemnification or advancement of expenses provided for in this Section 7.4 shall operate prospectively only and shall not affect any action taken, taken or failure to act, by an indemnitee prior to the adoption of such amendment, repeal, By-Law, Bylaw or other provision, nor shall any such changes affect the Statutory Trustee's rights hereunder without its prior written consent.

Appears in 1 contract

Samples: Trust Agreement (OHI Asset (CT) Lender, LLC)

Time is Money Join Law Insider Premium to draft better contracts faster.