Common use of Service by Indemnitee Clause in Contracts

Service by Indemnitee. Indemnitee agrees to serve and/or continue to serve the Trust in a Corporate Status; provided however, Indemnitee may at any time and for any reason resign from such position (subject to any obligation under contract or by operation of law), and the Trust shall have no obligation under this Agreement to continue Indemnitee in such position for any period of time; provided further, following termination of Indemnitee's service to the Trust in a Corporate Status at any time and for any reason, whether with or without cause, Indemnitee and the Indemnified Parties shall be entitled to all of the rights and benefits provided hereunder. The Trust acknowledges and agrees that it has entered into this Agreement and assumed the obligations imposed on the Trust hereunder in order to induce Indemnitee to serve and to continue to serve in a Corporate Status, and acknowledges that Indemnitee is relying on this Agreement in continuing to serve in such position.

Service by Indemnitee. Indemnitee agrees to serve and/or continue to serve the Trust in Company as a Corporate Statustrustee; provided however, Indemnitee may at any time and for any reason resign from such position (subject to any other obligation under contract or by operation of law), and the Trust Company shall have no obligation under this Agreement to continue Indemnitee in such position for any period of time; provided further, following termination of Indemnitee's ’s service to the Trust in Company as a Corporate Status trustee at any time and for any reason, whether with or without cause, Indemnitee and the Indemnified Parties shall be entitled to all of the rights and benefits provided hereunder. The Trust Company acknowledges and agrees that it has entered into this Agreement and assumed the obligations imposed on the Trust Company hereunder in order to induce Indemnitee to serve and to continue to serve in Company as a Corporate Statustrustee, and acknowledges that Indemnitee is relying on upon this Agreement in continuing to serve in such position.