Specific Indemnity of Investor Directors. 17.3.1 The Promoters and the Company expressly agree that the Investor Directors shall be non executive directors and accordingly shall neither be nor deemed to be in charge of, or responsible for or involved in the conduct of the affairs or business or day to day operations and management of the Company and shall not be liable for any default or failure of the Company in complying with the provisions or terms and conditions of any applicable Law, including but not limited to defaults and liabilities under any corporate or securities Laws; labour Laws; tax Laws; environmental Laws; building compliances Laws such as fire safety, storage of hazardous substances, explosives, etc. or any contracts, licenses, or approvals, unless he is directly responsible for any act involving negligence or misfeasance.
Appears in 4 contracts
Samples: Investment Agreement, Investment Agreement, Investment Agreement
