Examples of Granite Entity in a sentence
To the fullest extent permitted by law, the Corporation and the Granite Entities shall indemnify and save harmless each person made, or threatened to be made, a party to any action or proceeding in respect of the Plan or a Unit Purchase Trust by reason of the fact that such person is or was a member of the Committee or the Board or is or was an officer or employee of the Corporation or any Granite Entity.
No member of the Committee, the Board or any officer or employee of the Corporation or a Granite Entity shall be liable for any action or determination made in good faith pursuant to the Plan or any Grant Agreement under the Plan.
If an Eligible Director should become an employee of the Corporation or any other Granite Entity while remaining as a Director, his eligibility for the Plan shall be suspended effective the date of the commencement of his employment and shall resume upon termination of such employment provided he continues as a Director of the Corporation.
To the fullest extent permitted by law, the Corporation and the other Granite Entities shall indemnify and save harmless each person made, or threatened to be made, a party to any action or proceeding in respect of the Plan by reason of the fact that such person is or was a member of the Board, the Board of Trustees of Granite REIT or the Granite Board or is or was an officer or employee of the Corporation, Granite REIT or a Granite Entity.
Nothing in the Plan or in any Grant Agreement entered into pursuant hereto shall confer upon any Participant the right to continue in the employ or service of the Corporation or any other Entity, to be entitled to any remuneration or benefits not set forth in the Plan or a Grant Agreement or to interfere with or limit in any way the right of the Corporation or any Granite Entity to terminate Participant’s employment or service arrangement with the Corporation or any Granite Entity.
The Placement Units will be duly and validly authorized, allotted and reserved for issuance and, upon their issuance in accordance with this Agreement at each Settlement Date, once the REIT and Granite GP have received delivery of payment of the purchase price therefor, the Placement Units will be validly issued and outstanding as fully paid and non-assessable Units, and will not have been issued in violation of any pre-emptive rights or contractual rights to purchase securities of any Granite Entity.
No Granite Entity is in default or in breach of any of the Material Agreements to which it is a party, except as would not reasonably be expected to have a Material Adverse Effect.