Contractual undertaking Clause Samples
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Contractual undertaking. Arising from an express warranty, guarantee, indemnity or other contractual provision to the extent that -
(a) it extends a duty of any Insured beyond exercising the standard of care and skill which would have been applicable in the absence of that provision; or
(b) it increases the compensation, damages and/or costs for which any Insured is liable beyond the amount which would have been payable in the absence of that provision.
Contractual undertaking. The Parties agree that the granting after the date hereof of any Securities to any employee or manager of the Company shall be conditioned upon the prior execution by such employee or manager of a French translated version of the draft Contractual Undertaking attached as EXHIBIT C hereto. Each Party hereby empowers the President of the Board of Directors to execute, on its behalf, any such Contractual Undertaking.