Examples of Nortel Corporation in a sentence
Any obligation of Nortel Limited with respect to Common Shares pursuant to the terms of the Plan is subject to compliance with all applicable laws, regulations, rules, orders of governmental or regulatory authorities and the requirements of any stock exchange upon which shares of Nortel Corporation are listed or traded.
In connection with, and effective as of May 1, 2000, Share Units granted or to be granted under the Plan and the shares subject to the Plan were adjusted and common shares of Nortel Corporation were substituted for common shares of Nortel Limited.
Neither Nortel Limited nor Nortel Corporation shall be required to cause to be delivered Common Shares or certificates evidencing Common Shares pursuant to the Plan unless and until such delivery is in compliance with all applicable laws, regulations, rules, orders of governmental or regulatory authorities and the requirements of any stock exchange upon which shares of Nortel Corporation are listed or traded.
Neither Nortel Corporation nor Nortel Limited shall in any event be obligated to the Participants to take any action to comply with any such laws, regulations, rules, orders or requirements.
The purpose of the Plan is to assist Nortel Limited in attracting and retaining individuals with experience and ability to serve as members of the Board and to promote a greater alignment of interests between Eligible Directors and the shareholders of Nortel Corporation.
Notwithstanding the foregoing, the obtaining of the written consent of any Participant to an amendment which materially adversely affects the rights of such Participant with respect to any credited Share Unit or under any Election Form and Agreement shall not be required if such amendment is required to comply with applicable laws, regulations, rules, orders of governmental or regulatory authorities or the requirements of any stock exchange on which shares of Nortel Corporation are listed or traded.
Purchases of Common Shares pursuant to the Plan shall be made on the open market by a broker independent from Nortel Corporation and Nortel Limited designated by the Participant and who is a member of the TSE, the NYSE, or any such other stock exchange as may be determined by the Committee from time to time (the “Broker”).
Nortel Corporation shall not be required to cause to be delivered Common Shares or certificates evidencing Common Shares pursuant to the Plan unless and until such delivery is in compliance with all applicable laws, regulations, rules, orders of governmental or regulatory authorities and the requirements of any stock exchange upon which shares of Nortel Corporation are listed or traded.
To the full extent permitted by law, Nortel Corporation shall indemnify and save harmless each person made, or threatened to be made, a party to any action or proceeding by reason of the fact that such person is or was a member of the Committee or is or was a member of the Board and, as such, is or was required or entitled to take action pursuant to the terms of the Plan.
Nothing herein shall provide any Participant with an entitlement or right to be elected or appointed a director of Nortel Corporation.