Automatic Exchange on Liquidation of United Royale Sample Clauses

Automatic Exchange on Liquidation of United Royale. (1) United Royale shall give the Trustee written notice of each of the following events at the time set forth below:

Related to Automatic Exchange on Liquidation of United Royale

Governing Law This Agreement shall be governed by and construed in accordance with the laws of the State of New York.
WHEREAS highly competent persons have become more reluctant to serve publicly-held corporations as directors, officers or in other capacities unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of such corporations;
Definitions As used in this Agreement, the following terms shall have the following meanings:
Miscellaneous a. A Person is deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable Securities. If the Company receives conflicting instructions, notices or elections from two or more Persons with respect to the same Registrable Securities, the Company shall act upon the basis of instructions, notice or election received from the registered owner of such Registrable Securities.
Termination This Agreement may be terminated at any time prior to the Closing:
IN WITNESS WHEREOF the parties hereto have caused this Agreement to be duly executed by their respective authorized officers as of the day and year first above written.
Notices All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been duly given (i) if delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, or (ii) mailed by certified or registered mail with postage prepaid, on the third (3rd) business day after the date on which it is so mailed:
Severability Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
Indemnification In the event any Registrable Securities are included in a Registration Statement under this Agreement:
NOW, THEREFORE the parties hereto agree as follows: