Company Bound; Precluded Sample Clauses

Company Bound; Precluded. If a determination shall have been made pursuant to Section 1(b) above that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding commenced by Indemnitee to recover any unpaid Losses or Expenses. The Company shall be precluded from asserting in any such judicial proceeding that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in such proceeding that the Company is bound by all the provisions of this Agreement.