Termination of Duty to Indemnify. 7.01 In the event that a party ceases to be a Shareholder (by reason of the non-renewal or cancellation of the policy issued by the Company or for any other reason), all obligations of the Company to indemnify or make payment to any person under any insuring agreement contained in, or otherwise pursuant to, any policy at any time issued by the Company to that party, whensoever issued or outstanding, shall cease and terminate for all purposes whatsoever at the time such party ceases to be a Named Insured or Energy Company under any non-expired/non- cancelled policy issued by the Company (“Termination Time”), except only with respect to:
Appears in 13 contracts
Samples: Shareholders’ Agreement, Shareholders’ Agreement, Shareholders’ Agreement
