Common use of Right to Advancement of Expenses Clause in Contracts

Right to Advancement of Expenses. The right to indemnification conferred in Section 7.4(a) shall include the right to advancement by the Company of any and all expenses (including attorneys’ fees and expenses) incurred in participating in or defending any such Action in advance of its final disposition (an “Advancement of Expenses”); provided, however, that an Advancement of Expenses incurred by an Indemnitee shall be made pursuant to this Section 7.4(b) only upon delivery to the Company of an undertaking (an “Undertaking”), by or on behalf of such Indemnitee, to repay, without interest, all amounts so advanced if it shall ultimately be determined by final judicial decision from which there is no further right to appeal (a “Final Adjudication”) that such Indemnitee is not entitled to be indemnified for such expenses under this Section 7.4(b). An Indemnitee’s right to an Advancement of Expenses pursuant to this Section 7.4(b) is not subject to the satisfaction of any standard of conduct and is not conditioned upon any prior determination that Indemnitee is entitled to indemnification under Section 7.4(a) with respect to the related Action or the absence of any prior determination to the contrary.

Appears in 6 contracts

Samples: Tax Receivable Agreement (Collier Creek Holdings), Limited Liability Company Agreement (Utz Brands, Inc.), Business Combination Agreement (CC Neuberger Principal Holdings I)

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Right to Advancement of Expenses. The right to indemnification conferred in Section 7.4(a7.6(a) shall include the right to advancement by the Company of any and all expenses (including reasonable attorneys’ fees and expenses) incurred in participating in or defending any such Action in advance of its final disposition (an “Advancement of Expenses”); provided, however, that an Advancement of Expenses incurred by an Indemnitee shall be made pursuant to this Section 7.4(b7.6(b) only upon delivery to the Company of an undertaking (an “Undertaking”), by or on behalf of such Indemnitee, to repay, without interest, all amounts so advanced if it shall ultimately be determined by final judicial decision from which there is no further right to appeal (a “Final Adjudication”) that such Indemnitee is not entitled to be indemnified for such expenses under this Section 7.4(b7.6(b). An Indemnitee’s right to an Advancement of Expenses pursuant to this Section 7.4(b7.6(b) is not subject to the satisfaction of any standard of conduct and is not conditioned upon any prior determination that Indemnitee is entitled to indemnification under Section 7.4(a7.6(a) with respect to the related Action or the absence of any prior determination to the contrary.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Inspirato Inc), Limited Liability Company Agreement (Inspirato Inc), Limited Liability Company Agreement (Thayer Ventures Acquisition Corp)

Right to Advancement of Expenses. The right to indemnification conferred in Section 7.4(a) shall include the right to advancement by the Company of any and all expenses (including reasonable attorneys’ fees and expenses) incurred in participating in or defending any such Action in advance of its final disposition or in connection with a proceeding brought to establish or enforce a right to indemnification or advancement of expense (an “Advancement of Expenses”); provided, however, that if (a) the Act requires or (b) in the case of an Advancement of Expenses made in a proceeding brought to establish or enforce a right to indemnification or advancement, an Advancement of Expenses incurred by an Indemnitee shall be made pursuant to this Section 7.4(b) only upon delivery to the Company of an undertaking (an “Undertaking”), by or on behalf of such Indemnitee, to repay, without interest, all amounts so advanced if it shall ultimately be determined by final judicial decision from which there is no further right to appeal (a “Final Adjudication”) that such Indemnitee is not entitled to be indemnified for such expenses under this Section 7.4(b). An Indemnitee’s right to an Advancement of Expenses pursuant to this Section 7.4(b) is not subject to the satisfaction of any standard of conduct and is not conditioned upon any prior determination that Indemnitee is entitled to indemnification under Section 7.4(a) with respect to the related Action or the absence of any prior determination to the contrary.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Roth CH Acquisition III Co), Business Combination Agreement (Proptech Investment Corp. Ii), Limited Liability Company Agreement (QualTek Services Inc.)

Right to Advancement of Expenses. The right to indemnification conferred in Section 7.4(a4.8(a) shall include the right to advancement be paid by the Company of any and all the expenses (including including, without limitation, attorneys’ fees and expenses) incurred in participating in or defending any such Action proceeding in advance of its final disposition (hereinafter an “Advancement of Expenses”); provided, however, that (i) no such Advancement of Expenses shall occur in connection with a proceeding by or in the right of the Company against such Indemnitee and (ii) an Advancement of Expenses incurred by an Indemnitee shall be made pursuant to this Section 7.4(b) only upon delivery to the Company of an undertaking (hereinafter an “Undertaking”), by or on behalf of such Indemnitee, to repay, without interest, repay all amounts so advanced if it shall ultimately be determined by final judicial decision from which there is no further right to appeal (a “Final Adjudication”) that such Indemnitee is not entitled to be indemnified for such expenses under this Section 7.4(b)4.8 or otherwise. An Indemnitee’s right to Such Undertaking will be an Advancement unlimited general obligation of Expenses pursuant to this Section 7.4(b) is the Indemnitee but need not subject to be secured unless so determined by the satisfaction of any standard of conduct and is not conditioned upon any prior determination that Indemnitee is entitled to indemnification under Section 7.4(a) with respect to the related Action or the absence of any prior determination to the contraryMember.

Appears in 2 contracts

Samples: Operating Agreement (Resource Well Services, LLC), Operating Agreement (Atlas Energy Tennessee, LLC)

Right to Advancement of Expenses. The right to indemnification conferred in Section 7.4(a) shall include the right to advancement by the Company of any and all expenses (including including, without limitation, attorneys’ fees and expenses) incurred in participating in or defending any such Action Proceeding in advance of its final disposition (an “Advancement of Expenses”); provided, however, that that, if the Act so requires, an Advancement of Expenses incurred by an Indemnitee in his or her capacity as a member, director or officer (and not in any other capacity in which service was or is rendered by such Indemnitee, including without limitation service to an employee benefit plan) shall be made pursuant to this Section 7.4(b) only upon delivery to the Company of an undertaking (an “Undertaking”), by or on behalf of such Indemnitee, to repay, without interest, all amounts so advanced if it shall ultimately be determined by final judicial decision from which there is no further right to appeal (a “Final Adjudication”) that such Indemnitee is not entitled to be indemnified for such expenses under this Section 7.4(b). An Indemnitee’s right to an Advancement of Expenses pursuant to this Section 7.4(b) is not subject to the satisfaction of any standard of conduct and is not conditioned upon any prior determination that Indemnitee is entitled to indemnification under Section 7.4(a) with respect to the related Action Proceeding or the absence of any prior determination to the contrary.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Golden Nugget Online Gaming, Inc.), Limited Liability Company Agreement (Landcadia Holdings II, Inc.)

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Right to Advancement of Expenses. The right to indemnification conferred in Section 7.4(a7.5(a) shall include the right to advancement by the Company of any and all expenses (including attorneys’ fees and expenses) incurred in participating in or defending any such Action in advance of its final disposition (an “Advancement of Expenses”); provided, however, that an . An Advancement of Expenses incurred by an Indemnitee shall be made pursuant to this Section 7.4(b7.5(c) only upon delivery to the Company of an undertaking (an “Undertaking”), by or on behalf of such Indemnitee, to repay, without interest, all amounts so advanced if it shall ultimately be determined by final judicial decision from which there is no further right to appeal (a “Final Adjudication”) that such Indemnitee is not entitled to be indemnified for such expenses under this Section 7.4(b7.5(c). An Indemnitee’s right to an Advancement of Expenses pursuant to this Section 7.4(b7.5(c) is not subject to the satisfaction of any standard of conduct and is not conditioned upon any prior determination that Indemnitee is entitled to indemnification under Section 7.4(a7.5(a) with respect to the related Action or the absence of any prior determination to the contrary.

Appears in 1 contract

Samples: Investor Rights Agreement (MDH Acquisition Corp.)

Right to Advancement of Expenses. The right to indemnification conferred in by Section 7.4(a18(a) shall include the right to advancement by the Company of any and all expenses (including including, without limitation, attorneys’ fees and expenses) incurred in participating in or defending any such Action Proceeding in advance of its final disposition (an “Advancement of Expenses”); provided, however, that that, if the Act so requires, an Advancement of Expenses incurred by an Indemnitee in his or her capacity as a Member, director or Officer (and not in any other capacity in which service was or is rendered by such Indemnitee, including without limitation service to an employee benefit plan) shall be made pursuant to this Section 7.4(b18(b) only upon delivery to the Company of an undertaking (an “Undertaking”), by or on behalf of such Indemnitee, to repay, without interest, all amounts so advanced if it shall ultimately be determined by final judicial decision from which there is no further right to appeal (a “Final Adjudication”) that such Indemnitee is not entitled to be indemnified for such expenses under this Section 7.4(b18(b). An Indemnitee’s right to an Advancement of Expenses pursuant to this Section 7.4(b18(b) is not subject to the satisfaction of any standard of conduct and is not conditioned upon any prior determination that Indemnitee is entitled to indemnification under Section 7.4(a18(a) with respect to the related Action Proceeding or the absence of any prior determination to the contrary.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Misonix Inc)

Right to Advancement of Expenses. The right to indemnification conferred in Section 7.4(a) shall include the right to advancement by the Company of any and all expenses (including reasonable attorneys’ fees and expenses) incurred in participating in or defending any such Action in advance of its final disposition or in connection with a proceeding brought to establish or enforce a right to indemnification or advancement of expense (an “Advancement of Expenses”); Expenses”); provided, however, that if (a) the Act requires or (b) in the case of an Advancement of Expenses made in a proceeding brought to establish or enforce a right to indemnification or advancement, an Advancement of Expenses incurred by an Indemnitee shall be made pursuant to this Section 7.4(b) only upon delivery to the Company of an undertaking (an “Undertaking”), by or on behalf of such Indemnitee, to repay, without interest, all amounts so advanced if it shall ultimately be determined by final judicial decision from which there is no further right to appeal (a “Final Adjudication”) that such Indemnitee is not entitled to be indemnified for such expenses under this Section 7.4(b). An Indemnitee’s right to an Advancement of Expenses pursuant to this Section 7.4(b) is not subject to the satisfaction of any standard of conduct and is not conditioned upon any prior determination that Indemnitee is entitled to indemnification under Section 7.4(a) with respect to the related Action or the absence of any prior determination to the contrary.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Appreciate Holdings, Inc.)

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