Been a while since I flew the E120 last, but if I rememeber correctly:
You "take-off rating" is the yellow band on the FLI, this can only be used below Vy. Your transient is when when you exceed the redline, a coloured line will appear under the limit you are exceeding. "Max cont. rating" is your Tq fiqure at the start of the yellow band minus 10%.
I think that is correct, if you asked me a year ago I would have been able to tell you what the book says word for word.
I would get your manual checked to see if it is current if you are in doubt about the information contained within it.
Happy flying, TiP