Obligation to Make Expense Advances Sample Clauses
The Obligation to Make Expense Advances clause requires one party, typically an employer or company, to provide funds in advance to cover certain expenses incurred by another party, such as an employee, director, or officer, often in connection with legal proceedings or investigations. In practice, this means the company must pay for legal fees or other costs upfront, rather than waiting until the matter is resolved, provided the recipient meets specified conditions like agreeing to repay if found ineligible for indemnification. This clause ensures that individuals are not financially burdened while defending themselves in actions related to their role, thereby encouraging them to act in the company's best interests without fear of personal financial risk.
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Obligation to Make Expense Advances. Upon request by Indemnitee, the Company shall advance (within 15 business days of such request) any and all Expenses incurred by Indemnitee. The Indemnitee shall qualify for such Expense Advance upon the execution and delivery of this Agreement to the Company which shall constitute an undertaking that the Indemnitee undertakes to repay such Expense Advances if and to the extent it shall ultimately be determined in a final judicial determination as to which all rights of appeal therefrom have been exhausted or lapsed that the Indemnitee is not entitled to be indemnified therefor by the Company, the Company shall make Expense Advances to Indemnitee. In the event that Indemnitee has commenced legal proceedings to secure a determination that Indemnitee is entitled to be indemnified hereunder under applicable law in accordance with Section 2(c) hereof, until it is so finally determined by the court that Indemnitee is not entitled to indemnification, Indemnitee shall not be required to repay such Expense Advances to the Company and Indemnitee shall continue to receive Expense Advances pursuant to this Section 3(a).
Obligation to Make Expense Advances. Upon receipt of a written undertaking by or on behalf of the Indemnitee to repay such amounts if it shall ultimately be determined that the Indemnitee is not entitled to be indemnified therefore by the Company hereunder under applicable law, the Company shall make Expense Advances to Indemnitee.
Obligation to Make Expense Advances. The Company shall make Expense Advances to Indemnitee in advance of the final disposition of a Claim. The Indemnitee hereby undertakes to repay such amounts advanced only if, and to the extent, it shall ultimately be determined that the Indemnitee is not entitled to be indemnified, exonerated or held harmless therefore by the Company.
Obligation to Make Expense Advances. The Company shall make Expense Advances to Indemnitee upon receipt of a written undertaking, in the form attached hereto as Exhibit A, by or on behalf of the Indemnitee to repay such amounts if it shall ultimately be determined that the Indemnitee is not entitled to be indemnified, exonerated or held harmless therefor by the Company. The Company’s obligation to make Expense Advances to Indemnitee shall not be binding if it would be contrary to Danish law for the Company to agree or make such Expense Advances, pursuant to the Danish Companies Act or otherwise under Danish law.
Obligation to Make Expense Advances. The Company shall make Expense Advances to Indemnitee upon receipt of (i) a written undertaking by or on behalf of Indemnitee to repay such amounts, unless it shall previously have been determined pursuant to this Agreement that Indemnitee is not entitled to be indemnified therefor by the Company and (ii) a written statement by Indemnitee of his or her good faith belief that he or she has met the standard of conduct described in Section 13.1-697 of the Virginia Stock Corporation Act.
Obligation to Make Expense Advances. Upon receipt of a written undertaking by or on behalf of the Indemnitee to repay such amounts if it shall ultimately be determined that the Indemnitee is not entitled to be indemnified therefor by the Company, the Company shall make Expense Advances to Indemnitee.
Obligation to Make Expense Advances. The Company will make Expense Advances to Indemnitee within 20 days of receipt of a written undertaking by or on behalf of the Indemnitee to repay such amounts if it is ultimately determined that the Indemnitee is not entitled to be indemnified therefor by the Company.
Obligation to Make Expense Advances. If so requested by Indemnitee, the Company shall make Expense Advances to Indemnitee. The Indemnitee shall qualify for such Expense Advances upon the execution and delivery to the Company of this Agreement which shall constitute an undertaking providing that the Indemnitee undertakes to repay such Expense Advances if and to the extent that it is ultimately determined by a court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company. Indemnitee’s obligation to reimburse the Company for Expense Advances shall be unsecured and no interest shall be charged thereon. To the extent permissible under third party policies, the Company agrees that invoices for Expense Advances shall be billed in the name of and be payable directly by the Company.
Obligation to Make Expense Advances. Upon receipt of a written undertaking by or on behalf of the Indemnified Person to repay such amounts if it shall ultimately be determined that the Indemnified Person is not entitled to be indemnified therefore by Martek hereunder under applicable law, Martek shall make Expense Advances to Indemnified Person.
Obligation to Make Expense Advances. Upon receipt of a written undertaking by or on behalf of the Indemnified Person to repay such amounts if it shall ultimately be determined that the Indemnified Person is not entitled to be indemnified therefore by Double-Take hereunder under applicable law, Double-Take shall make Expense Advances to Indemnified Person.