Common use of Limitation of Actions and Release of Claims Clause in Contracts

Limitation of Actions and Release of Claims. To the extent permitted by applicable law (including the Act), no legal action shall be brought and no course of action shall be asserted by or on behalf of the Corporation against the Indemnified Party, or his or her heirs, legal representatives, or their respective successors and assigns, after the expiration of two years from the date the Indemnified Party ceased to be a director and/or officer of the Corporation or any Subsidiary, and the Corporation agrees that any claim or cause of action of the Corporation shall be extinguished and the Indemnified Party and his or her heirs, legal representatives, and their respective successors and assigns are deemed released therefrom absolutely unless asserted by the commencement of legal action in a court of competent jurisdiction within such two year period. ​

Limitation of Actions and Release of Claims. To the extent permitted by applicable law (including the Act), no No legal action shall be brought and no course cause of action shall be asserted by or on behalf of the Corporation against the Indemnified Party, or his or her heirsestate, executors, administrators, legal representatives, representatives or their respective successors and assigns, lawful heirs after the expiration of two years from the date the Indemnified Party ceased (for any reason) to be a director and/or or officer of the Corporation or any Subsidiary, Affiliate and the Corporation agrees that any claim or cause of action of the Corporation shall be extinguished and the Indemnified Party and Party, his or her heirsestate, executors, administrators, legal representatives, representatives and their respective successors and assigns are lawful heirs deemed released therefrom absolutely unless asserted by the commencement of legal action in a court of competent jurisdiction within such two two-year period. ​.

Limitation of Actions and Release of Claims. To the extent permitted by applicable law (including the Act), no No legal action shall be brought and no course cause of action shall be asserted by or on behalf of the Corporation or any Affiliate against the Indemnified Party, or his or her heirsestate, executors, administrators, legal representatives, successors or their respective successors and assigns, lawful heirs after the expiration of two years from the date the Indemnified Party ceased (for any or no reason) to be a director and/or or officer of the Corporation or any Subsidiary, an Affiliate and the Corporation agrees that any claim or cause of action of the Corporation or of any Affiliate shall be extinguished and the Indemnified Party and Party, his or her heirsestate, executors, administrators, legal representatives, and their respective successors and assigns are lawful heirs deemed released therefrom absolutely unless asserted by the commencement of legal action in a court of competent jurisdiction within such two two-year period. ​.

Limitation of Actions and Release of Claims. To the extent permitted by applicable law (including the Act), no legal action shall be brought and no course of action shall be asserted by or on behalf of the Corporation against the Indemnified Indemnified Party, or and his or her heirs, legal representatives, or representatives and their respective successors and assigns, after the expiration of two years from the date the Indemnified Party ceased of his ceasing to be a director and/or officer officer of any of the Corporation or any Subsidiary, and the Corporation agrees that any claim or cause of action of the Corporation shall be extinguished and the Indemnified Indemnified Party and his or her heirs, legal representatives, and their respective successors and assigns are deemed released therefrom absolutely unless asserted by the commencement of legal action in a court of competent jurisdiction within such two two-year period. ​.