Advances of Expenses Clause Example with 4 Variations from Business Contracts
This page contains Advances of Expenses clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Advances of Expenses. Notwithstanding any provision of this Agreement to the contrary, the Company shall advance the expenses incurred by Indemnitee in connection with any Proceeding within 30 days after the receipt by the Company of a statement or statements requesting such advances from time to time, whether prior to or after final disposition of any Proceeding. Advances shall be unsecured and interest free. Advances shall be made without regard to Indemnitee’s ability to repay the expenses and without regard to In...demnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement. Advances shall include any and all reasonable Expenses incurred pursuing an action to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. The Indemnitee shall qualify for advances upon the execution and delivery to the Company of this Agreement which shall constitute an undertaking providing that the Indemnitee undertakes to repay the advance to the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified by the Company. This Section 9 shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 8.View More
Variations of a "Advances of Expenses" Clause from Business Contracts
Advances of Expenses. Notwithstanding any provision of this Agreement to the contrary, the Company shall advance the expenses Expenses reasonably incurred by Indemnitee in connection with any Proceeding for which indemnification is or may be available pursuant to this Agreement within 30 20 days after the receipt by the Company of a statement or statements requesting such advances from time to time, whether prior to or after final disposition of any Proceeding. Advances shall be unsecured and interest free. Advances ...shall be made without regard to Indemnitee’s ability to repay the expenses fullest extent permitted by applicable law and without regard to requiring a preliminary determination of Indemnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement. Agreement, including any determination under Section 11 hereof. Advances shall include any and all reasonable Expenses incurred pursuing an action to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. The Indemnitee shall qualify for advances solely upon the execution and delivery to the Company of (a) a written affirmation by Indemnitee of Indemnitee’s good faith belief that the standard of conduct necessary for indemnification by the Company as authorized by law and by this Agreement which shall constitute an has been met and (b) a written undertaking providing that the by or on behalf of Indemnitee undertakes to repay the advance to the extent that any Expenses advanced if it is shall ultimately be determined that Indemnitee is such standard of conduct has not entitled to be indemnified by the Company. This Section 9 shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 8. been met. View More
Advances of Expenses. Notwithstanding any provision of this Agreement to the contrary, contrary (other than Section 13(d)), the Company shall advance to the expenses extent not prohibited by law, the Expenses incurred by Indemnitee in connection with any Proceeding (or any part of any Proceeding) not initiated by Indemnitee, and such advancement shall be made within 30 15 days after the receipt by the Company of a statement or statements requesting such advances from time to time, whether prior to or after final disp...osition of any Proceeding. Advances shall be unsecured and interest free. interest-free. Advances shall be made without regard to Indemnitee’s ability to repay the expenses and without regard to Indemnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement. Advances In accordance with Section 13(d) of this Agreement, advances shall include any and all reasonable Expenses incurred pursuing an action to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. The Indemnitee shall qualify for advances solely upon the execution and delivery to the Company of this Agreement which shall constitute an undertaking providing that the Indemnitee undertakes to repay the advance amounts advanced (without interest) to the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified by the Company. This Section 9 shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 8. View More
Advances of Expenses. Notwithstanding any provision of this Agreement to the contrary, contrary (other than Section 14(d)), the Company shall advance advance, to the expenses extent not prohibited by law, the Expenses incurred by Indemnitee in connection with any Proceeding (or any part of any Proceeding) not initiated by Indemnitee, and such advancement shall be made within 30 thirty (30) days after the receipt by the Company of a statement or statements requesting such advances from time to time, whether prior to o...r after final disposition of any Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall include 7 SGY Form 2017 or be preceded or accompanied by a written undertaking by or on behalf of Indemnitee to repay any Expenses advanced if it shall ultimately be determined that Indemnitee is not entitled to be indemnified against such Expenses. Advances and undertaking to repay shall be unsecured and interest free. Advances shall be made without regard to Indemnitee’s ability to repay the expenses Expenses and without regard to Indemnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement. Advances In accordance with Section 14(d), advances shall include any and all reasonable Expenses incurred pursuing an action to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. The Indemnitee shall qualify for advances upon the execution and delivery to the Company of this Agreement which shall constitute an undertaking providing that the Indemnitee undertakes to repay the advance to the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified by the Company. This Section 9 10 shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 8. Sections 9(a), (b) and (d). View More
Advances of Expenses. Notwithstanding any provision of this Agreement to the contrary, the Company shall advance advance, to the expenses extent not prohibited by law, the Expenses actually and reasonably incurred by or on behalf of Indemnitee in connection with prior to the final disposition of any Proceeding Proceeding, and such advancement shall be made within 30 ten (10) days after the receipt by the Company of a statement or statements requesting such advances from time to time, whether prior to or after final d...isposition of any Proceeding. time. Advances shall be unsecured and interest free. The Indemnitee’s right to advancement is not subject to the 7 satisfaction of any standard of conduct. Advances shall be made without regard to Indemnitee’s ability to repay the expenses Expenses and without regard to Indemnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement. Advances shall include any and all reasonable Expenses incurred pursuing an action to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. The Indemnitee shall qualify for advances upon the execution and delivery to the Company of this Agreement Agreement, which shall constitute an undertaking providing that the Indemnitee undertakes to repay the advance to the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified by the Company. This Section 9 Company; provided, that (i) such Indemnitee shall provide security for his or her undertaking, (ii) the Company shall be insured against losses arising by reason of such Indemnitee’s failure to fulfill his or her undertaking or (iii) a majority of the Disinterested Directors and directors who are not apply “interested persons” (as defined in the 1940 Act) of the Company (provided that a majority of such directors then in office act on the matter), or independent legal counsel in a written opinion shall determine, based on a review of readily available facts (but not a full trial-type inquiry), that there is reason to any claim made believe such Indemnitee ultimately will be entitled to indemnification. Only to the extent required by Indemnitee MGCL or as may hereafter be amended or interpreted, the Indemnitee’s right to advancement is subject to a written affirmation of the Indemnitee’s good faith belief that the standard of conduct necessary for which indemnity is excluded pursuant to Section 8. indemnification by the Company has been met. View More
