Common use of Mandatory Advancement of Expenses Clause in Contracts

Mandatory Advancement of Expenses. Expenses incurred by a Person of the type entitled to be indemnified under Section 8.01 of this Agreement in defending any Proceeding shall be paid or reimbursed by the Company in advance of the final disposition of the Proceeding, without any determination as to such Person's ultimate entitlement to indemnification under Section 8.01 of this Agreement, upon receipt of a written affirmation by such Person of such Person's good faith belief that such Person has met the standard of conduct necessary for indemnification under applicable law and a written undertaking by or on behalf of such Person to repay all amounts so advanced if it shall ultimately be determined that such Person is not entitled to be indemnified by the Company as authorized in Section 8.01 of this Agreement or otherwise. The written undertaking shall be an unlimited general obligation of the Person but need not be secured and shall be accepted without reference to financial ability to make repayment.

Appears in 15 contracts

Samples: Limited Liability Company Agreement (Pp&l Transition Bond Co Inc), Limited Liability Company Agreement (Builders FirstSource of Nashville, Inc.), Limited Liability Company Agreement (Builders FirstSource of Nashville, Inc.)

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Mandatory Advancement of Expenses. Expenses incurred by a Person of the type entitled to be indemnified under Section 8.01 of this Agreement in defending any Proceeding shall be paid or reimbursed by the Company in advance of the final disposition of the Proceeding, without any determination as to such Person's ultimate entitlement to indemnification under Section 8.01 of this Agreement8.01, upon receipt of a written affirmation by such Person of such Person's good faith belief that such Person has met the standard of conduct necessary for indemnification under applicable law and a written undertaking by or on behalf of such Person to repay all amounts so advanced if it shall ultimately be determined that such Person is not entitled to be indemnified by the Company as authorized in Section 8.01 of this Agreement or otherwise. The written undertaking shall be an unlimited general obligation of the Person but need not be secured and shall be accepted without reference to financial ability to make repayment.

Appears in 6 contracts

Samples: Limited Liability Company Agreement (Consumers Funding LLC), Limited Liability Company Agreement (Atlantic City Electric Transition Funding LLC), Limited Liability Company Agreement (Atlantic City Electric Transition Funding LLC)

Mandatory Advancement of Expenses. Expenses incurred by a Person of the type entitled to be indemnified under Section 8.01 of this Agreement 9.01 in defending any Proceeding shall be paid or reimbursed by the Company in advance of the final disposition of the ProceedingProceeding to the extent that such expenses are Qualified Costs, without any determination as to such Person's ’s ultimate entitlement to indemnification under Section 8.01 of this Agreement9.01, upon receipt of a written affirmation by such Person of such Person's ’s good faith belief that such Person has met the standard of conduct necessary for indemnification under applicable law this Agreement and a written undertaking by or on behalf of such Person to repay all amounts so advanced if it shall ultimately be determined that such Person is not entitled to be indemnified by the Company as authorized in Section 8.01 of this Agreement 9.01 or otherwise. The written undertaking shall be an unlimited general obligation of the Person but need not be secured and shall be accepted without reference to financial ability to make repayment.

Appears in 6 contracts

Samples: Limited Liability Company Agreement (CenterPoint Energy Transition Bond Co IV, LLC), Limited Liability Company Agreement (CenterPoint Energy Restoration Bond Company, LLC), Limited Liability Company Agreement (CenterPoint Energy Restoration Bond Company, LLC)

Mandatory Advancement of Expenses. Expenses incurred by a Person of the type entitled to be indemnified under Section 8.01 of this Agreement in defending any Proceeding shall be paid or reimbursed by the Company in advance of the final disposition of the Proceeding, without any determination as to such Person's ’s ultimate entitlement to indemnification under Section 8.01 of this Agreement8.01, upon receipt of a written affirmation by such Person of such Person's ’s good faith belief that such Person has met the standard of conduct necessary for indemnification under applicable law this Agreement and a written undertaking by or on behalf of such Person to repay all amounts so advanced if it shall ultimately be determined that such Person is not entitled to be indemnified by the Company as authorized in Section 8.01 of this Agreement or otherwise. The written undertaking shall be an unlimited general obligation of the Person but need not be secured and shall be accepted without reference to financial ability to make repayment.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (MP Environmental Funding LLC), Limited Liability Company Agreement (MP Environmental Funding LLC), Limited Liability Company Agreement (JCP&L Transition Funding II LLC)

Mandatory Advancement of Expenses. Expenses To the fullest extent permitted by law, expenses incurred by a Person of the type entitled to be indemnified under Section 8.01 of this Agreement 8.1 in defending any Proceeding shall be paid or reimbursed by the Company in advance of the final disposition of the Proceeding, without any determination as to such Person's ultimate entitlement to indemnification under Section 8.01 of this Agreement8.1, upon receipt of a written affirmation by such Person of such Person's good faith belief that such Person has met the standard of conduct necessary for indemnification under applicable law and a written undertaking by or on behalf of such Person to repay all amounts so advanced if it shall ultimately be determined that such Person is not entitled to be indemnified by the Company as authorized in Section 8.01 of this Agreement 8.1 or otherwise. The written undertaking shall be an unlimited general obligation of the Person but need not be secured and shall be accepted without reference to financial ability to make repayment.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Florida Power & Light Co), Limited Liability Company Agreement (PSE&G Transition Funding II LLC), Limited Liability Company Agreement (PSE&G Transition Funding II LLC)

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Mandatory Advancement of Expenses. Expenses incurred by a Person of the type entitled to be indemnified under Section 8.01 of this Agreement 9.01 in defending any Proceeding shall be paid or reimbursed by the Company in advance of the final disposition of the ProceedingProceeding to the extent that such expenses are Qualified Costs, without any determination as to such Person's ultimate entitlement to indemnification under Section 8.01 of this Agreement9.01, upon receipt of a written affirmation by such Person of such Person's good faith belief that such Person has met the standard of conduct necessary for indemnification under applicable law this Agreement and a written undertaking by or on behalf of such Person to repay all amounts so advanced if it shall ultimately be determined that such Person is not entitled to be indemnified by the Company as authorized in Section 8.01 of this Agreement 9.01 or otherwise. The written undertaking shall be an unlimited general obligation of the Person but need not be secured and shall be accepted without reference to financial ability to make repayment.

Appears in 2 contracts

Samples: Limited Liability (CenterPoint Energy Transition Bond CO II, LLC), CenterPoint Energy Transition Bond CO II, LLC

Mandatory Advancement of Expenses. Expenses incurred by a Person of the type entitled to be indemnified under Section 8.01 of this Agreement in defending any Proceeding shall be paid or reimbursed by the Company in advance of the final disposition of the Proceeding, without any determination as to such Person's ultimate entitlement to indemnification under Section 8.01 of this Agreement8.01, upon receipt of a written affirmation by such Person of such Person's good faith belief that such Person has met the standard of conduct necessary for indemnification under applicable law this Agreement and a written undertaking by or on behalf of such Person to repay all amounts so advanced if it shall ultimately be determined that such Person is not entitled to be indemnified by the Company as authorized in Section 8.01 of this Agreement or otherwise. The written undertaking shall be an unlimited general obligation of the Person but need not be secured and shall be accepted without reference to financial ability to make repayment.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Jcp&l Transition Funding LLC), Limited Liability Company Agreement (Jcp&l Transition Funding LLC)

Mandatory Advancement of Expenses. Expenses incurred by a --------------------------------- Person of the type entitled to be indemnified under Section 8.01 of this Agreement 9.01 in defending any Proceeding shall be paid or reimbursed by the Company in advance of the final disposition of the ProceedingProceeding to the extent that such expenses are Qualified Costs, without any determination as to such Person's ultimate entitlement to indemnification under Section 8.01 of this Agreement9.01, upon receipt of a written affirmation by such Person of such Person's good faith belief that such Person has met the standard of conduct necessary for indemnification under applicable law this Agreement and a written undertaking by or on behalf of such Person to repay all amounts so advanced if it shall ultimately be determined that such Person is not entitled to be indemnified by the Company as authorized in Section 8.01 of this Agreement 9.01 or otherwise. The written undertaking shall be an unlimited general obligation of the Person but need not be secured and shall be accepted without reference to financial ability to make repayment.

Appears in 1 contract

Samples: Limited Liability (Reliant Energy Transition Bond Co LLC)

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