Common use of Measuring Life Clause in Contracts

Measuring Life. If and to the extent that any of the options, rights and privileges granted under this Agreement, would, in the absence of the limitation imposed by this sentence, be invalid or unenforceable as being in violation of the rule against perpetuities or any other rule or law relating to the vesting of interests in property or the suspension of the power of alienation of property, then it is agreed that notwithstanding any other provision of this Agreement, such options, rights and privileges, subject to the respective conditions hereof governing the exercise of such options, rights and privileges, will be exercisable only during (a) the longer of (i) a period which will end twenty-one (21) years after the death of the last survivor of the descendants living on the date of the execution of this Agreement of the following Presidents of the United States: Franklin D. Roosevelt, Harry S. Truman, Dwight D. Eisenhower, John ▇. ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇. J▇▇▇▇▇▇, ▇▇▇▇▇▇▇ M. ▇▇▇▇▇, ▇▇▇▇▇▇ ▇. ▇or▇, ▇▇▇▇▇ ▇. ▇▇▇te▇, ▇▇▇▇▇▇ ▇. ▇▇▇▇an, ▇▇▇▇▇▇ ▇.▇. ▇▇sh, ▇▇▇▇▇▇▇ ▇. ▇li▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇ W. ▇▇▇▇ ▇▇ (▇▇) ▇he ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ u▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇tatut▇▇▇ ▇▇▇▇ ▇▇▇▇▇st Perpetuities or (b) the specific applicable period of time expressed in this Agreement, whichever of (a) and (b) is shorter. No Partnership, Etc. The parties hereto intend that nothing contained in this Participation Agreement or any other Operative Document shall be deemed or construed to create a partnership, joint venture or other co-ownership arrangement by and among any of them.

Measuring Life. If and to the extent that any of the options, rights and privileges granted under this Agreement, would, in the absence of the limitation imposed by this sentence, be invalid or unenforceable as being in violation of the rule against perpetuities or any other rule or law relating to the vesting of interests in property or the suspension of the power of alienation of property, then it is agreed that notwithstanding any other provision of this Agreement, such options, rights and privileges, subject to the respective conditions hereof governing the exercise of such options, rights and privileges, will be exercisable only during (a) the longer of (i) a period which will end twenty-one (21) years after the death of the last survivor of the descendants living on the date of the execution of this Agreement of the following Presidents of the United States: Franklin D. Roosevelt, Harry S. Truman, Dwight D. Eisenhower, John ▇. ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇. J▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ M. d ▇. ▇▇▇▇▇, ▇▇▇▇▇▇ ▇. Fo▇or▇, ▇▇▇▇▇ ▇. ▇▇rt▇te▇, ▇▇▇▇▇▇ ▇. ▇▇▇ga▇an, ▇▇▇▇▇▇ ▇.▇. ▇us▇sh, ▇▇▇▇▇▇▇ ▇. Cl▇li▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇ W. e ▇. ▇▇▇▇ ▇▇ (▇▇) ▇he th▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ud ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ Statu▇tatut▇▇▇ ▇▇▇▇ ▇▇▇▇▇st nst Perpetuities or (b) the specific applicable period of time expressed in this Agreement, whichever of (a) and (b) is shorter. No Partnership, Etc. The parties hereto intend that nothing contained in this Participation Agreement or any other Operative Document shall be deemed or construed to create a partnership, joint venture or other co-ownership arrangement by and among any of them.

Measuring Life. If and to the extent that any of the options, rights and privileges granted under this Agreement, would, in the absence of the limitation imposed by this sentence, be invalid or unenforceable as being in violation of the rule against perpetuities or any other rule or law relating to the vesting of interests in property or the suspension of the power of alienation of property, then it is agreed that notwithstanding any other provision of this Agreement, such options, rights and privileges, subject to the respective conditions hereof governing the exercise of such options, rights and privileges, will be exercisable only during (a) the longer of (i) a period which will end twenty-one (21) years after the death of the last survivor of the descendants living on the date of the execution of this Agreement of the following Presidents of the United States: Franklin D. Roosevelt, Harry S. Truman, Dwight D. Eisenhower, John ▇. ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇. J▇▇▇▇▇▇, ▇▇▇▇▇▇▇ M. ▇▇▇▇▇, ▇▇▇▇▇▇ ▇. ▇or▇, ▇▇▇▇▇ ▇. ▇▇▇te▇, ▇▇▇▇▇▇ ▇. ▇▇▇▇an, ▇▇▇▇▇▇ ▇.▇. ▇▇sh, ▇▇▇▇▇▇▇ ▇. ▇li▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇ W. ▇▇▇▇ ▇▇ (▇▇) ▇he th▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ud ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ Statu▇tatut▇▇▇ ▇▇▇▇ ▇▇▇▇▇st Perpetuities or (b) the specific applicable period of time expressed in this Agreement, whichever of (a) and (b) is shorter. No Partnership, Etc. The parties hereto intend that nothing contained in this Participation Agreement or any other Operative Document shall be deemed or construed to create a partnership, joint venture or other co-ownership arrangement by and among any of them.