Common use of Obligation to Make Expense Advances Clause in Contracts

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 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).