No Personal Liability of Directors, Officers Sample Clauses
The "No Personal Liability of Directors, Officers" clause establishes that individual directors and officers of a company are not personally responsible for the company's obligations or liabilities under the agreement. In practice, this means that if the company breaches the contract or incurs debts, only the company itself can be held liable, not its directors or officers in their personal capacities. This clause protects individuals in leadership roles from personal financial risk arising from their official actions, ensuring that liability remains with the corporate entity and not with those managing it.
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No Personal Liability of Directors, Officers. Employees and Stockholders No director, officer, employee or stockholder of the Company shall have any liability for any obligations of the Company under the Notes or the Indenture or for any claim based on, in respect of, or by reason of such obligations or their creation. Each Noteholder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes.
No Personal Liability of Directors, Officers. EMPLOYEES AND STOCKHOLDERS. No past, present or future director, officer, employee, incorporator or stockholder of the Company, as such, will have any liability for any obligations of the Company under this Indenture or the Notes or for any claim based on, in respect of, or by reason of, such obligations or their creation. By accepting any Note, each Holder waives and releases all such liability. Such waiver and release are part of the consideration for the issuance of the Notes.
No Personal Liability of Directors, Officers. Employees, -------------------------------------------------------- Incorporators and Stockholders. No director, officer, employee, incorporator or ------------------------------ stockholder, as such, of the Company or any Subsidiary Guarantor shall have any liability for any obligation of the Company, or any Subsidiary Guarantor under this Indenture, the Notes or any Subsidiary Guarantee, or for any claim based on, in respect of, or by reason of, any such obligation or its creation. Each Noteholder, by accepting the Notes, waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes.
No Personal Liability of Directors, Officers. Employees and ----------------------------------------------------------- Stockholders. No past, present or future director, officer, employee, ------------ incorporator or stockholder of the Debtor as such or any successor Person, as such, shall have any liability for any obligations of the Debtor under the Notes, the Collateral Documents, this Agreement or for any claim based on, in respect of, or by reason of, such obligations or their creation.
No Personal Liability of Directors, Officers. Employees, Stockholders and Agents. No past, present or future director, officer, employee, incorporator, stockholder or agent of the Issuers shall have any liability for any obligations of the Issuers under the Notes, this Indenture or the Collateral Documents or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes.
No Personal Liability of Directors, Officers. Employees ------------------------------------------------------- and Stockholders. ---------------- No director, officer, employee, incorporator or stockholder of the Company, as such, shall have any liability for any obligations of the Company under the Securities or this Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation, solely by reason of its status as a director, officer, employee, incorporator or stockholder of the Company. By accepting a Security, each Holder waives and releases all such liability (but only such liability). The waiver and release are part of the consideration for issuance of the Securities.
No Personal Liability of Directors, Officers. Employees and Stockholders 84 SECTION 6.08. Rights of Holders To Receive Payment 84 SECTION 6.09. Collection Suit by Trustee 84 SECTION 6.10. Trustee May File Proofs of Claim 84 SECTION 6.11. Priorities 85 SECTION 6.12. Undertaking for Costs 85 SECTION 7.01. Duties of Trustee 86 SECTION 7.02. Rights of Trustee 88 SECTION 7.03. Individual Rights of Trustee 89 SECTION 7.04. Trustee’s Disclaimer 89 SECTION 7.05. Notice of Defaults 90 SECTION 7.06. [Reserved] 90 SECTION 7.07. Compensation and Indemnity 90 SECTION 7.08. Replacement of Trustee 91 SECTION 7.09. Successor Trustee by Consolidation, Merger, etc. 92 SECTION 7.10. Eligibility; Disqualification 92 SECTION 7.11. Preferential Collection of Claims Against Issuer 93 SECTION 7.12. Paying Agents 93 SECTION 8.01. Without Consent of Noteholders 93 SECTION 8.02. With Consent of Noteholders 94 SECTION 8.03. [Reserved] 96 SECTION 8.04. Revocation and Effect of Consents 96 SECTION 8.05. Notation on or Exchange of Notes 97 SECTION 8.06. Trustee To Sign Amendments, etc. 97 SECTION 9.01. Discharge of Indenture 97 SECTION 9.02. Legal Defeasance 99 SECTION 9.03. Covenant Defeasance 99 SECTION 9.04. Conditions to Defeasance or Covenant Defeasance 100
No Personal Liability of Directors, Officers. EMPLOYEES AND SHAREHOLDERS. No past, present or future director, officer, employee, incorporator, member, partner or shareholder or other owner of Capital Stock of the Company or any Guarantor, as such, shall have any liability for any obligations of the Company or any Guarantor under the Notes, the Subsidiary Guarantees, this Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes.
No Personal Liability of Directors, Officers. Employees and Stockholders 60 Section 13.08. Governing Law; Waiver of Jury Trial 60 Section 13.09. [Reserved] 61 Section 13.10. No Adverse Interpretation of Other Agreements 61 Section 13.11. Successors 61 Section 13.12. Severability 61 Section 13.13. Counterpart Originals 61 Section 13.14. Acts of Holders 61 Section 13.15. Benefit of Indenture 62 Section 13.16. Table of Contents, Headings, Etc. 63 Section 13.17. USA PATRIOT Act 63 Exhibit A FORM OF 2031 NOTE Exhibit B FORM OF CERTIFICATE OF TRANSFER Exhibit C FORM OF CERTIFICATE OF EXCHANGE Exhibit D FORM OF SUPPLEMENTAL INDENTURE TO BE DELIVERED BY SUBSEQUENT GUARANTORS INDENTURE dated as of September 29, 2020 among Qorvo, Inc., a Delaware corporation (the “Company”), the Subsidiary Guarantors (as defined below) listed on the signature pages hereto and MUFG Union Bank, N.A., as Trustee (as defined below). The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its 3.375% Senior Notes due 2031. The initial Subsidiary Guarantors have duly authorized the execution and delivery of this Indenture to provide for a guarantee of the Notes (as defined below) and of certain of the Company’s obligations hereunder. All things necessary to make this Indenture a valid agreement of the Company and the initial Subsidiary Guarantors, in accordance with its terms, have been done. The Company, the Subsidiary Guarantors and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders (as defined below) of the Notes:
No Personal Liability of Directors, Officers. EMPLOYEES OR STOCKHOLDERS