Advancement of Expenses Clause Example from Business Contracts

Advancement of Expenses. Notwithstanding any other provision of this Agreement, Indemnitee shall, in all events, control the defense of Indemnitee in any Proceeding by reason of Indemnitee's Corporate Status, and the Company shall advance all Expenses incurred by or on behalf of Indemnitee in connection with such Proceeding within thirty (30) days after the receipt by the Company of a statement or statements from Indemnitee requesting such advancement from time to time, whether prior to or after final disposition of suc...h Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall include 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. Any advances and undertakings to repay pursuant to this Section 5 shall be unsecured and interest free, and shall be made without regard to Indemnitee's ultimate entitlement to indemnification. View More