Common use of Advance Payment of Expenses Clause in Contracts

Advance Payment of Expenses. The expenses of each Person who is or was a Manager, Member, officer, controlling Person, employee, legal representative or agent, incurred in defending a civil or criminal action, suit or proceeding may be paid by the Company as they are incurred and in advance of the final disposition of the action, suit or proceeding, upon receipt of an undertaking by or on behalf of such Person to repay the amount if it is ultimately determined by a court of competent jurisdiction that such Person is not entitled to be indemnified by the Company. The provisions of this Section 10.05 shall not affect any rights to advancement of expenses to which personnel other than the Member or the Managers (other than the Independent Managers) may be entitled under any contract or otherwise by law.

Appears in 5 contracts

Samples: Limited Liability Company Operating Agreement (Cleco Power LLC), Limited Liability Company Operating Agreement (Cleco Power LLC), Limited Liability Company Operating Agreement (Cleco Katrina/Rita Hurricane Recovery Funding LLC)

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Advance Payment of Expenses. The expenses of each Person who is or was a Manager, Member, officer, controlling Person, employee, legal representative or agent, any Member incurred in defending a civil or criminal action, suit or proceeding may be paid by the Company as they are incurred and in advance of the final disposition of the action, suit or proceeding, upon receipt of an undertaking by or on behalf of such Person Member (in form and substance, from an indemnitor, reasonably satisfactory to all of the Members), to repay the amount if it is ultimately determined by a court of competent jurisdiction that such Person Member is not entitled to be indemnified by the Company. The provisions of this Section 10.05 11.4 do not affect and shall not affect be deemed exclusive of any other rights, including, without, limitation, any rights to indemnification or advancement of expenses to which personnel any such Indemnified Person other than the Member or the Managers (other than the Independent Managers) Members may be entitled under any contract contract, pursuant to approval of the Members, or otherwise by law.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Chatham Lodging Trust), Limited Liability Company Agreement (Chatham Lodging Trust), Limited Liability Company Agreement (Chatham Lodging Trust)

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Advance Payment of Expenses. The To the fullest extent permitted by law, the expenses of each Person who is or was a Manager, Member, officer, controlling Covered Person, employee, legal representative or agent, incurred in defending a civil or criminal action, suit or proceeding may be paid by the Company as they are incurred and in advance of the final disposition of the action, suit or proceeding, upon receipt of an undertaking by or on behalf of such Person to repay the amount if it is ultimately determined by a court of competent jurisdiction that such Person is not entitled to be indemnified by the Company. The provisions of this Section 10.05 9.5 shall not affect any rights to advancement of expenses to which personnel other than the Member Members, the Special Members or the Managers a Manager (other than the any Independent ManagersManager) may be entitled under any contract or otherwise by law.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Corporate Capital Trust, Inc.)

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