No Participant Clause Samples

The "No Participant" clause establishes that certain rights, benefits, or obligations under an agreement do not extend to individuals or entities who are not formally recognized as participants. In practice, this means that only those parties explicitly identified as participants in the contract are entitled to enforce or be bound by its terms, and third parties or outsiders have no standing under the agreement. This clause serves to prevent unintended parties from claiming rights or responsibilities, thereby ensuring clarity and limiting the scope of the contract to its intended signatories.
No Participant or Beneficiary shall have any rights as a stockholder with respect to Shares subject to an Award, including without limitation any right to vote or to receive or accrue dividends (ordinary or extraordinary, whether in cash, securities or other property) or distributions or any equivalent thereof, until such Shares are delivered to the Participant or the Beneficiary, and no adjustment or accrual shall be made for dividends (ordinary or extraordinary, whether in cash, securities or other property) or distributions of other rights for which the record date is prior to the date such Shares are delivered.
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No Participant shall exercise its rights relating to the San ▇▇▇▇ Project so as to endanger or unreasonably interfere with the operation of the San ▇▇▇▇ Project or the right of any other Participant to use its share of Capacity and Energy from the San ▇▇▇▇ Project.
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No Participant without the consent of the other Participant, shall make a Transfer which shall cause termination of the tax partnership established by the provisions of Section 4.2;
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No Participant. 8.5.1.1 warrants or represents to any other Participant the accuracy, currency, or completeness (excluding the obligations in section 8.4.1 above) of any Client Data collected by a Participant through the SCA Network; and 8.5.1.2 shall not be held liable or responsible in any way for clinical uses of, or decision- making processes relating to the use of, any such Client Data by a Participant.
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No Participant without the consent of the other Participant, shall make a Transfer which shall cause a change in the tax relationship of the participants under the provisions of Article IV of this Agreement and if, contrary to this restriction, a Transfer is made which causes such a change the transferring Participant and transferee shall indemnify, defend and hold harmless the other Participant from and against any and all loss, cost, expense or damage arising from such change;
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No Participant. Agent or Lessor shall have any obligation to any other Participant, any other Agent or Lessor or party hereto with respect to transactions contemplated by the Operative Documents, except those obligations of such -92- 100 Participant expressly set forth in the Operative Documents or except as set forth in the instruments delivered in connection therewith, and no Participant and no stockholder, employee, officer, director, beneficial owner, member, manager or incorporator thereof shall be liable for performance by any other party hereto of such other party's obligations under the Operative Documents except as otherwise so set forth.
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No Participant or Beneficiary shall have the right to alienate, anticipate, commute, pledge, encumber or assign any of the benefits or payments which he may expect to receive under the terms of this Plan, except that a loan to a Participant form the Trust Fund, to the extent permitted hereunder, shall not be considered an alienation of benefits. The Trustee shall have a lien upon the borrower's Account to the extent of the entire unpaid amount of said loan plus collection costs and interest.
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No Participant. Beneficiary or other person shall have any right, title or interest in any fund or in any specific asset (including shares of Class B Common Stock) of the Company by reason of any Option granted hereunder. Neither the provisions of this Plan (or of any documents related hereto), nor the creation or adoption of this Plan, nor any action taken pursuant to the provisions of this Plan shall create, or be construed to create, a trust of any kind or a fiduciary relationship between the Company and any Participant, Beneficiary or other person. To the extent that a Participant, Beneficiary or other person acquires a right to receive an Option hereunder, such right shall be no greater than the right of any unsecured general creditor of the Company.
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Related to No Participant

  • Participant See Section 7(a) hereof.

  • Death of Participant Any distribution or delivery to be made to Participant under this Award Agreement will, if Participant is then deceased, be made to Participant’s designated beneficiary, or if no beneficiary survives Participant, the administrator or executor of Participant’s estate. Any such transferee must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer.

  • Eligible Employee For purposes of the SIMPLE 401(k) Plan provisions, any Employee who is entitled to make Elective Deferrals under the terms of the SIMPLE 401(k) Plan.

  • Participants The Lender and its participants, if any, are not partners or joint venturers, and the Lender shall not have any liability or responsibility for any obligation, act or omission of any of its participants. All rights and powers specifically conferred upon the Lender may be transferred or delegated to any of the Lender's participants, successors or assigns.

  • Retirement Benefit (i) In consideration of the Executive's past services to the Company, the Executive shall be entitled to a retirement benefit, payable monthly for his life, in an amount equal to 50 percent of his highest monthly Base Salary during the Employment Term. Such payments shall commence on the first day of the month coincident with or next following the later of the Executive's attainment of age 58 or the end of the Employment Term (the "Commencement Date"); provided, however, that if the Employment Term terminates prior to his attainment of age 58, the Executive may elect by written notice to the Company to have such payments commence on the first day of any month after such termination of employment (the "Early Commencement Date") in a monthly amount equal to the monthly amount that the Executive would have received at the Commencement Date, reduced by one-third of one percent (.33%) per month for each month by which the Early Commencement Date precedes the Commencement Date. The amount of each payment hereunder shall be increased on each January 1 following the Early Commencement Date or Commencement Date, as applicable, by an amount determined by multiplying the amount of each monthly payment made in the preceding year by the percentage increase, if any, in the cost of living from the preceding January 1, as reflected by the Consumer Price Index. The Executive's election to have his retirement benefit payments commence on the Early Commencement Date shall not affect the Company's obligation to pay consulting fees to the Executive in accordance with Section 4 hereof. The retirement benefit shall be an unconditional, but unsecured, general credit obligation of the Company to the Executive, and nothing contained in this Agreement, and no action taken pursuant to it, shall create or be construed to create a trust of any kind between the Company and the Executive. The Executive shall have no right, title or interest whatever in or to any investments which the Company may make (including, but not limited to, an insurance policy on the life of the Executive) to aid it in meeting its obligations hereunder. (ii) From time to time, the Company shall make such contributions to the trust established under the Trust Agreement dated as of December 18, 1986 (the "1986 Trust") between the Company, as grantor, and Wi▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, as successor trustee, to provide a sufficient reserve for the discharge of its obligation to pay the retirement benefit to the Executive as provided in clause (i) of this Section 3(c) and clauses (ii) and (iii) of Section 5(a) hereof.