Common use of Method of Determination Clause in Contracts

Method of Determination. A determination (if required by applicable law) with respect to Indemnitee's entitlement to indemnification shall be made in the specific case (a) by the Board by a majority vote of a quorum consisting of disinterested Directors, (b) if a quorum of the Board consisting of Disinterested Directors is not obtainable, or even if obtainable, if the Board so directs, by Independent Counsel selected by the Board, in a written opinion to the Board, a copy of which shall be delivered to Indemnitee.

Appears in 4 contracts

Samples: Indemnification Agreement (Urt Industries Inc), Indemnification Agreement (Peaches Entertainment Corp), Indemnification Agreement (Urt Industries Inc)

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Method of Determination. A determination (if required by applicable law) with respect to Indemnitee's ’s entitlement to indemnification shall be made in the specific case (a) by the Board by a majority vote of a quorum consisting of disinterested Disinterested Directors, (b) if even though less than a quorum of quorum. In the Board consisting of event that there are no Disinterested Directors is not obtainableor if such Disinterested Directors so direct, or even if obtainable, if the Board so directs, determination shall be made by Independent Counsel selected by the Board, in a written opinion to the Board, a copy of which shall be delivered to Indemnitee.

Appears in 2 contracts

Samples: Indemnification Agreement (Restore Medical, Inc.), Indemnification Agreement (EnteroMedics Inc)

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