Common use of Right of Indemnitee to Bring Suit Clause in Contracts

Right of Indemnitee to Bring Suit. If a claim under Section 8.2(a) or 8.2(c) is not paid in full by the Company within sixty (60) days after a written claim has been received by the Company, except in the case of a claim for an Advancement of Expenses, in which case the applicable period shall be twenty (20) days, the Indemnitee may at any time thereafter bring suit against the Company to recover the unpaid amount of the claim. If successful in whole or in part, in any such suit or in a suit brought by the Company to recover an Advancement of Expenses pursuant to the terms of an Undertaking, the Indemnitee shall be entitled to be paid also the expense of litigating such suit. The Indemnitee shall be presumed to be entitled to indemnification under this Section 8.2 upon submission of a written claim (and, in an action brought to enforce a claim for an Advancement of Expenses by an Indemnitee entitled to make such a claim under Section 8.2(c), when the required Undertaking has been tendered to the Company) and thereafter the Company shall have the burden of proof to overcome the presumption that the Indemnitee is so entitled.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Luna Azul Development Fund, LLC), Limited Liability Company Agreement (Luna Azul Development Fund, LLC), Limited Liability Company Agreement (Luna Azul Development Fund, LLC)

AutoNDA by SimpleDocs

Right of Indemnitee to Bring Suit. If a claim under Section 8.2(afor indemnification (following the final disposition of such Proceeding) or 8.2(c) advancement of expenses under this Section 11.2 is not paid in full by the Company within (i) sixty (60) days after a written claim for indemnification has been received by the Company or (ii) twenty (20) days after a claim for an advancement of expenses has been received by the Company, except in the case of a claim for an Advancement of Expenses, in which case the applicable period shall be twenty (20) days, the such Indemnitee may at any time thereafter bring suit against the Company to recover the unpaid amount of the claimclaim or to obtain advancement of expenses, as applicable. If To the fullest extent permitted by Law, if the Indemnitee is successful in whole or in part, part in any such suit suit, or in a suit brought by the Company to recover an Advancement advancement of Expenses expenses pursuant to the terms of an Undertakingundertaking, the Indemnitee shall be entitled to be paid also the expense of litigating prosecuting or defending such suit. The bcvIn any suit brought by the Indemnitee shall be presumed to be entitled to indemnification under this Section 8.2 upon submission of a written claim (and, in an action brought to enforce a claim for right to indemnification or to an Advancement advancement of Expenses expenses hereunder, or brought by the Company to recover an Indemnitee entitled to make such a claim under Section 8.2(c), when the required Undertaking has been tendered advancement of expenses pursuant to the Company) and thereafter the Company shall have terms of an undertaking, the burden of proof to overcome the presumption proving that the Indemnitee is so entitlednot entitled to be indemnified, or to such advancement of expenses, under this Article XI or otherwise shall be on the Company.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (VPC Impact Acquisition Holdings), Limited Liability Company Agreement (Bakkt Holdings, Inc.)

Right of Indemnitee to Bring Suit. If a claim under Section 8.2(a) 14.1 or 8.2(c) Section 14.3 is not paid in full by the Company within sixty (60) days after a written claim has been received by the Company, except in the case of a claim for an Advancement of Expenses, in which case the applicable period shall be twenty (20) days, the Indemnitee may at any time thereafter bring suit against the Company to recover the unpaid amount of the claim. If successful the Indemnitee is successful, in whole or in part, in any such suit or in a suit brought by the Company to recover an Advancement of Expenses pursuant to the terms of an Undertaking, the Indemnitee shall will be entitled to be paid also the expense of litigating such suit. The Indemnitee shall will be presumed to be entitled to indemnification under this Section 8.2 14 upon submission of a written claim (and, in an action brought to enforce a claim for an Advancement of Expenses by an Indemnitee entitled to make such a claim under Section 8.2(c)Expenses, when the required Undertaking has been tendered to the Company) ), and thereafter the Company shall will have the burden of proof to overcome the presumption that the Indemnitee is so entitled.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Zabala Farms Group, LLC)

AutoNDA by SimpleDocs

Right of Indemnitee to Bring Suit. The rights to indemnification and to the advancement of expenses conferred in Sections 8.1 and 8.2 shall be contract rights. If a claim under Section 8.2(a) or 8.2(c) Sections 8.1 and 8.2 is not paid in full by the Company Corporation within sixty (60) days after a written claim has been received by the CompanyCorporation, except in the case of a claim for an Advancement advancement of Expensesexpenses, in which case the applicable period shall be twenty (20) days, the Indemnitee may at any time thereafter bring suit against the Company Corporation to recover the unpaid full amount of the claim. If the indemnitee is successful in whole or in part, part in any such suit suit, or in a suit brought by the Company Corporation to recover an Advancement advancement of Expenses expenses pursuant to the terms of an Undertaking, undertaking the Indemnitee indemnitee shall be entitled to be paid also the expense of litigating prosecuting or defending such suitsuit to the fullest extent permitted by law. The Indemnitee shall be presumed In any suit brought by the indemnitee to enforce a right to indemnification or to an advancement of expenses hereunder, or by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the burden of proving that the indemnitee is not entitled to be entitled indemnified, or to indemnification such advancement of expenses, under this Section 8.2 upon submission of a written claim (and, in an action brought to enforce a claim for an Advancement of Expenses by an Indemnitee entitled to make such a claim under Section 8.2(c), when 8 or otherwise shall be on the required Undertaking has been tendered to the Company) and thereafter the Company shall have the burden of proof to overcome the presumption that the Indemnitee is so entitledCorporation.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Procera Networks, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.