Common use of Trustee and Agent Clause in Contracts

Trustee and Agent. The Vendor acknowledges that the Purchaser is acting as trustee and agent for the remaining Purchaser Indemnified Parties, on whose behalf and for whose benefit the indemnity in Section 11.1 is provided and that such remaining Purchaser Indemnified Parties shall have the full right and entitlement to take the benefit of and enforce such indemnity notwithstanding that they may not individually be parties to this Agreement. The Vendor agrees that the Purchaser may enforce the indemnity for and on behalf of such remaining Purchaser Indemnified Parties and, in such event, the Vendor will not in any proceeding to enforce the indemnity by or on behalf of such remaining Purchaser Indemnified Parties assert any defence thereto based on the absence of authority or consideration or privity of contract and irrevocably waives the benefit of any such defence. The Purchaser acknowledges that the Vendor is acting as trustee and agent for the remaining Vendor Indemnified Parties, on whose behalf and for whose benefit the indemnity in Section 11.2 is provided and that such remaining Vendor Indemnified Parties shall have the full right and entitlement to take the benefit of and enforce such indemnity notwithstanding that they may not individually be parties to this Agreement. The Purchaser agrees that the Vendor may enforce the indemnity for and on behalf of such remaining Vendor Indemnified Parties and, in such event, the Purchaser will not in any proceeding to enforce the indemnity by or on behalf of such remaining Vendor Indemnified Parties assert any defence thereto based on the absence of authority or consideration or privity of contract and irrevocably waives the benefit of any such defence.

Trustee and Agent. (a) The Vendor acknowledges Company Shareholders acknowledge that the Purchaser is Buyer Parties are acting as trustee trustees and agent agents for the remaining Purchaser Buyer Indemnified Parties, Parties on whose behalf and for whose benefit the indemnity indemnities in Section 11.1 is 12.2 are provided and that such remaining Purchaser Buyer Indemnified Parties shall have the full right and entitlement to take the benefit of and enforce such indemnity notwithstanding that they may not individually be parties to this Agreement. The Vendor agrees Company Shareholders agree that the Purchaser Buyer Parties may enforce the indemnity for and on behalf of such remaining Purchaser Indemnified Parties and, in such event, the Vendor Company Shareholder(s) from whom indemnification is sought in accordance herewith will not in any proceeding to enforce the indemnity by or on behalf of such remaining Purchaser Buyer Indemnified Parties assert any defence thereto based on the absence of authority or consideration or privity of contract and irrevocably waives the benefit of any such defence. . (b) The Purchaser acknowledges Buyer Parties acknowledge that the Vendor Shareholders’ Agent is acting as trustee trustees and agent agents for the remaining Vendor Indemnified Parties, Company Shareholders on whose behalf and for whose benefit the indemnity indemnities in Section 11.2 is 12.2 are provided and that such remaining Vendor Indemnified Parties the Company Shareholders shall have the full right and entitlement to take the benefit of and enforce such indemnity notwithstanding that they may not individually be parties to this Agreement. The Purchaser agrees Buyer Parties agree that the Vendor Shareholders’ Agent may enforce the indemnity for and on behalf of such remaining Vendor Indemnified Parties the Company Shareholders and, in such event, the Purchaser Buyer Parties from whom indemnification is sought in accordance herewith will not in any proceeding to enforce the indemnity by or on behalf of such remaining Vendor Indemnified Parties the Company Shareholders assert any defence thereto based on the absence of authority or consideration or privity of contract and irrevocably waives the benefit of any such defence.

Trustee and Agent. (a) The Vendor acknowledges that the Purchaser is acting as trustee and agent for the remaining other Purchaser Indemnified Parties, Parties on whose behalf and for whose benefit the indemnity in Section 11.1 8.2 is provided and that such remaining other Purchaser Indemnified Parties shall have the full right and entitlement to take the benefit of and enforce such indemnity notwithstanding that they may not individually be parties to this Agreement. The Vendor agrees that the Purchaser may enforce the indemnity for and on behalf of such remaining other Purchaser Indemnified Parties and, in such event, the Vendor will not not, in any proceeding Proceeding to enforce the indemnity by or on behalf of such remaining other Purchaser Indemnified Parties Parties, assert any defence thereto based on the absence of authority or consideration or privity of contract and irrevocably waives the benefit of any such defence. . (b) The Purchaser acknowledges that the Vendor is acting as trustee and agent for the remaining other Vendor Indemnified Parties, Parties on whose behalf and for whose benefit the indemnity in Section 11.2 8.6 is provided and that such remaining other Vendor Indemnified Parties shall have the full right and entitlement to take the benefit of and enforce such indemnity notwithstanding that they may not individually be parties to this Agreement. The Purchaser agrees that the Vendor may enforce the indemnity for and on behalf of such remaining other Vendor Indemnified Parties and, in such event, the Purchaser will not not, in any proceeding Proceeding to enforce the indemnity by or on behalf of such remaining other Vendor Indemnified Parties Parties, assert any defence thereto based on the absence of authority or consideration or privity of contract and irrevocably waives the benefit of any such defence.