Common use of Appeal of Adverse Determination Clause in Contracts

Appeal of Adverse Determination. If a determination is made that the Trustee is not entitled to indemnification or advancement, the Trustee shall be entitled to an adjudication of such matter in an appropriate court of The Commonwealth of Massachusetts or in any other court of competent jurisdiction. Alternatively, the Trustee, at his or her option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the rules of the American Arbitration Association at a location selected by the Trustee. The Trustee shall commence such proceeding or arbitration within one year following the date on which the adverse determination is made. Any such judicial proceeding or arbitration shall be conducted in all respects as a de novo trial or arbitration on the merits, and such adverse determination shall not be introduced as evidence or otherwise used in said proceeding as a basis for ruling on the merits of the Trustee’s right to indemnification or advancement of expenses.

Appeal of Adverse Determination. If a determination is made that the Trustee is not entitled to indemnification or advancementadvancements (other than determinations that are made by a court), the Trustee shall be entitled to an adjudication of such matter in an appropriate court of The the Commonwealth of Massachusetts or in any other court of competent jurisdiction. Alternatively, the Trustee, at his or her option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the rules of the American Arbitration Association at a location selected by the TrusteeAssociation. The Trustee shall commence such proceeding or arbitration within one year 60 days following the date on which the adverse determination is made. Any such judicial proceeding or arbitration shall be conducted in all respects as a de novo trial or arbitration on the merits, and such adverse determination the Trustee shall not be introduced as evidence or otherwise used in said proceeding as a basis for ruling on the merits prejudiced by reason of the Trustee’s right to indemnification or advancement of expensessuch prior adverse determination.

Appeal of Adverse Determination. If a determination is made that the Trustee is not entitled to indemnification or advancementadvancements, the Trustee shall be entitled to an adjudication of such matter in an appropriate court of The Commonwealth of Massachusetts or in any other court of competent jurisdiction. Alternatively, the Trustee, at his or her option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the rules Commercial Arbitration Rules of the American Arbitration Association at a location selected by the TrusteeAssociation. The Trustee shall commence such proceeding or arbitration within one year following the date on which the adverse determination is made. Any such judicial proceeding or arbitration shall be conducted in all respects as a de novo trial or arbitration on the merits, and such adverse determination the Trustee shall not be introduced as evidence or otherwise used in said proceeding as a basis for ruling on the merits prejudiced by reason of the Trustee’s right to indemnification or advancement of expensessuch prior adverse determination.