Responsibility of the Parties to the Agreement and compensation for damages Sample Clauses

Responsibility of the Parties to the Agreement and compensation for damages. 10.1. The Company shall undertake to indemnify and hold harmless the Board Member against any damages or loss (including reasonable expenses for legal assistance), which may be incurred by the Board Member due to any reason related to the activities of the Board Member in the Board of the Company, except for cases when such damages or loss arose to the Board Member due to deliberate actions or gross negligence of the Board Member.
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Responsibility of the Parties to the Agreement and compensation for damages. The Company shall undertake to indemnify and hold harmless the Board Member against any damages or loss (including reasonable expenses for legal assistance), which may be incurred by the Board Member due to any reason related to the activities of the Board Member in the Board of the Company, except for cases when such damages or loss arose to the Board Member due to fault or gross negligence of the Board Member. During the period of validity of this Agreement, the Company shall undertake to cover the Board Member with insurance of the civil liability of bodies of legal entities. The Board Member undertakes to indemnify and hold harmless the Company, in an uncontested procedure, against any damages or loss (including reasonable expenses for legal assistance), which it may incur due to an infringement of this Agreement committed by the Board Member and/or claims of third parties, including the shareholders of the Company, related to the activities of the Board Member in the Board of the Company or to results of those activities, when such damages or loss arose to the Company due to deliberate actions or gross negligence of the Board Member. If the Board Member infringes the additional limitations provided for in Article 7 of this Agreement, the Company shall also have the right to require the Board Member who infringed such limitations: To pay for each case of infringement, in a non-judicial dispute settlement, a penalty of EUR 3000 (three thousand euros). Other agreements concluded between the Board Member and the Company may provide for the obligation of the Board Member, by agreement of the Parties, to adhere to obligations similar to those provided for in Article 7 of this Agreement, which would also apply after the expiration of this Agreement, with payment of compensation to the extent agreed upon by the Parties. Right to receive information and confidentiality The Board Member has the right to familiarise himself/herself with all documents of the Company and its direct and/or indirect subsidiaries and with all information of the Company and its direct and/or indirect subsidiaries (except for such documents and information which is related, either directly or indirectly, to the data, documents and/or information of the counterparties of the Company and its direct and/or indirect subsidiaries which is received, learned, or received in another lawful way, in accordance with the procedure established by legal acts, for the counterparties of the Company an...
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Responsibility of the Parties to the Agreement and compensation for damages. 3 In these Articles of Association, a “controlled company” is understood as a legal entity in which AB Xxxxx Xxxx possesses, in according with the right of ownership, more than 50% of the shares.
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Responsibility of the Parties to the Agreement and compensation for damages. 3 In these Articles of Association, a “controlled company” is understood as a legal entity in which AB Amber Grid possesses, in according with the right of ownership, more than 50% of the shares.
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Related to Responsibility of the Parties to the Agreement and compensation for damages

  • Underutilization and Termination with Liability If Customer's Total Service Charges do not reach the AVC, in any contract year during the Initial Term; Customer shall pay an “Underutilization Charge” equal to 50% of the unmet AVC. If Customer’s Total Service Charges do not reach the AVC in any contract year because the Agreement is terminated early by Customer without Cause or by the Company with Cause, Customer shall pay an “Early Termination Charge” equal to 50% of the unmet AVC plus a pro rata portion of any credits received by Customer. Credits:

  • Terminating the Agreement With reasonable cause, either Client or Contractor may terminate this Agreement, effective immediately upon giving written notice. Reasonable cause includes: A material violation of this Agreement; Any act exposing the other party to liability to others for personal injury or property damage; or Either party terminating this Agreement at any time by giving days' written notice to the other party of the intent to terminate.

  • Duration and Termination of the Agreement This Agreement shall become effective upon its execution; provided, however, that this Agreement shall not become effective unless it has first been approved (a) by a vote of the Independent Trustees, cast in person at a meeting called for the purpose of voting on such approval, and (b) by an affirmative vote of a majority of the outstanding voting shares of the Fund. This Agreement shall remain in full force and effect continuously thereafter, except as follows:

  • Termination of the Agreement In the event of failure by the participant to perform any of the obligations arising from the agreement, and regardless of the consequences provided for under the applicable law, the institution is legally entitled to terminate or cancel the agreement without any further legal formality where no action is taken by the participant within one month of receiving notification by registered letter. If the participant terminates the agreement before its agreement ends or if he/she fails to follow the agreement in accordance with the rules, he/she shall have to refund the amount of the grant already paid, except if agreed differently with the sending organisation. In case of termination by the participant due to "force majeure", i.e. an unforeseeable exceptional situation or event beyond the participant's control and not attributable to error or negligence on his/her part, the participant shall be entitled to receive at least the amount of the grant corresponding to the actual duration of the mobility period. Any remaining funds shall have to be refunded, except if agreed differently with the sending organisation.

  • Amendment and Termination of Agreement (a) We may amend any provision of this Agreement by giving you written notice of the amendment. Either party to this Agreement may terminate the Agreement without cause by giving the other party at least thirty (30) days' written notice of its intention to terminate. This Agreement will terminate automatically in the event of its assignment (as defined in the 1940 Act).

  • Determination of Agreement 29. (1) In any of the following events namely if —

  • Compensation for Damages 4.1 If the Principal has disqualified the Bidder from the tender process prior to the award according to Section 3, the Principal is entitled to demand and recover the damages equivalent Xxxxxxx Money Deposit/Bid Security.

  • COMMENCEMENT AND TERMINATION OF AGREEMENT 18 4.1 Term 18 4.2 Effect of Termination on Obligations; Survival 19 4.3 Mutual Termination 19 4.4 Early Termination 19

  • DETERMINATION OF BREACH AND TERMINATION OF AGREEMENT A. Prior to making a determination that the Applicant has failed to comply in any material respect with the terms of this Agreement or to meet any material obligation under this Agreement, the District shall provide the Applicant with a written notice of the facts which it believes have caused the breach of this Agreement, and if cure is possible, the cure proposed by the District. After receipt of the notice, the Applicant shall be given ninety (90) days to present any facts or arguments to the Board of Trustees showing that it is not in breach of its obligations under this Agreement, or that it has cured or undertaken to cure any such breach.

  • Termination of Agreement If this Agreement is terminated by the Representatives in accordance with the provisions of Section 5 or Section 9(a)(i) hereof, the Company shall reimburse the Underwriters for all of their out-of-pocket expenses, including the reasonable fees and disbursements of counsel for the Underwriters.

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