FORBIDDEN TRANSACTIONS Sample Clauses

FORBIDDEN TRANSACTIONS. It is forbidden that the members of the executive board or the supervisory board, other than legal persons, to contract, in any form whatsoever, loans from the Company, to obtain from it a current account overdraft or otherwise, and to endorse or endorse their commitments to third parties. The same prohibition applies to permanent representatives of legal persons who are members of the supervisory board. It also applies to the spouses, ascendants and descendants of the persons referred to in this section, as well as to any other person.

Related to FORBIDDEN TRANSACTIONS

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;
Entire Agreement The Transaction Documents, together with the exhibits and schedules thereto, contain the entire understanding of the parties with respect to the subject matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.
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:
Indemnification In the event any Registrable Securities are included in a Registration Statement under this Agreement:
NOW, THEREFORE the parties hereto agree as follows:
Counterparts This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
Definitions As used in this Agreement, the following terms shall have the following meanings:
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.
Termination This Agreement may be terminated at any time prior to the Closing:
Governing Law This Agreement shall be governed by and construed in accordance with the laws of the State of New York.