Common use of Right to Indemnification and Advancement of Expenses Clause in Contracts

Right to Indemnification and Advancement of Expenses. To the fullest extent permitted by applicable law, as the same exists or may hereafter be amended, the Corporation shall indemnify and hold harmless each person who is or was made a party or is threatened to be made a party to or is otherwise involved in a Proceeding by reason of the fact that he or she is or was a director or officer of the Corporation or, while a director or officer of the Corporation, is or was serving at the request of the Corporation as a director, manager, officer, employee or agent of another corporation or of a partnership, limited liability company, joint venture, trust, other enterprise or nonprofit entity, including service with respect to an employee benefit plan (an “Indemnitee”), whether the basis of such Proceeding is alleged action in an official capacity as a director, officer, employee or agent, or in any other capacity while serving as a director, officer, employee or agent, against all liability and loss suffered and expenses (including, without limitation, attorneys’ fees, judgments, fines and amounts paid in settlement) reasonably incurred by such Indemnitee in connection with such Proceeding. The Corporation shall to the fullest extent not prohibited by applicable law pay the expenses (including attorneys’ fees) incurred by an Indemnitee in defending or otherwise participating in any Proceeding in advance of its final disposition; provided, however, that, to the extent required by applicable law, such payment of expenses in advance of the final disposition of the Proceeding shall be made only upon receipt of an undertaking, by or on behalf of the Indemnitee, to repay all amounts so advanced if it shall ultimately be determined that the Indemnitee is not entitled to be indemnified under this Section 8.2 or otherwise. The rights to indemnification and advancement of expenses conferred by this Section 8.2 shall be contract rights and such rights shall continue as to an Indemnitee who has ceased to be a director, officer, employee or agent and shall inure to the benefit of his or her heirs, executors and administrators. Notwithstanding the foregoing provisions of this Section 8.2(A), except for Proceedings to enforce rights to indemnification and advancement of expenses, the Corporation shall indemnify and advance expenses to an Indemnitee in connection with a Proceeding (or part thereof) initiated by such Indemnitee only if such Proceeding (or part thereof) was authorized by the Board.

Appears in 1 contract

Samples: Limited Liability Company Agreement (VPC Impact Acquisition Holdings)

AutoNDA by SimpleDocs

Right to Indemnification and Advancement of Expenses. To the fullest extent permitted by applicable law, as the same exists or may hereafter be amended, the Corporation shall indemnify and hold harmless each person who is or was made a party or is threatened to be made a party to or is otherwise involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (a Proceeding “Proceeding”) by reason of the fact that he or she is or was a director or officer of the Corporation or, while a director or officer of the Corporation, is or was serving at the request of the Corporation as a director, manager, officer, employee or agent of another corporation or of a partnership, limited liability company, joint venture, trust, other enterprise or nonprofit entity, including service with respect to an employee benefit plan (an “Indemniteeindemnitee”), whether the basis of such Proceeding is alleged action in an official capacity as a director, officer, employee or agent, or in any other capacity while serving as a director, officer, employee or agent, against all liability and loss suffered and expenses (including, without limitation, attorneys’ fees, judgments, fines and amounts paid in settlement) reasonably incurred by such Indemnitee indemnitee in connection with such Proceeding. The Corporation shall to the fullest extent not prohibited by applicable law pay the expenses (including attorneys’ fees) incurred by an Indemnitee in defending or otherwise participating in any Proceeding in advance of its final dispositiondisposition indemnitee; provided, however, that, to the extent required by applicable law, such payment of expenses in advance of the final disposition of the Proceeding shall be made only upon receipt of an undertaking, by or on behalf of the Indemniteeindemnitee, to repay all amounts so advanced if it shall ultimately be determined that the Indemnitee is not entitled to be indemnified under this Section 8.2 5.2 or otherwise. The rights to indemnitee indemnification and advancement of expenses conferred by this Section 8.2 5.2 shall be contract rights and such rights shall continue as to an Indemnitee indemnitee who has ceased to be a director, officer, employee or agent and shall inure to the benefit of his or her heirs, executors and administrators. Notwithstanding the foregoing provisions of this Section 8.2(A)5.2, except for Proceedings to enforce rights to indemnification and advancement of expenses, the Corporation shall indemnify and advance expenses to an Indemnitee indemnitee in connection with a Proceeding (or part thereof) initiated by such Indemnitee indemnitee only if such Proceeding (or part thereof) was authorized by the Board.

Appears in 1 contract

Samples: Limited Liability Company Agreement (VPC Impact Acquisition Holdings)

Right to Indemnification and Advancement of Expenses. To the fullest extent permitted by applicable law, as the same exists or may hereafter be amended, the Corporation shall indemnify and hold harmless each person who is or was made a party or is threatened to be made a party to or is otherwise involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (a Proceeding “proceeding”) by reason of the fact that he or she is or was a director or officer of the Corporation or, while a director or officer of the Corporation, is or was serving at the request of the Corporation as a director, manager, officer, employee or agent of another corporation or of a partnership, limited liability company, joint venture, trust, other enterprise or nonprofit entity, including service with respect to an employee benefit plan (an “Indemniteeindemnitee”), whether the basis of such Proceeding proceeding is alleged action in an official capacity as a director, officer, employee or agent, or in any other capacity while serving as a director, officer, employee or agent, against all liability and loss suffered and expenses (including, without limitation, attorneys’ fees, judgments, fines fines, ERISA excise taxes and penalties and amounts paid in settlement) reasonably incurred by such Indemnitee indemnitee in connection with such Proceedingproceeding. The Corporation shall to the fullest extent not prohibited by applicable law pay the expenses (including including, without limitation, attorneys’ fees) incurred by an Indemnitee indemnitee in defending or otherwise participating in any Proceeding proceeding in advance of its final disposition; disposition (hereinafter an “advancement of expenses”); provided, however, that, to the extent required by applicable law, such payment of expenses in advance of the final disposition of the Proceeding proceeding shall be made only upon receipt of an undertaking (hereinafter an “undertaking”), by or on behalf of the Indemniteeindemnitee, to repay all amounts so advanced if it shall ultimately be determined that the Indemnitee indemnitee is not entitled to be indemnified under this Section 8.2 or otherwise. The rights to indemnification and advancement of expenses conferred by this Section 8.2 shall be contract rights and such rights shall continue as to an Indemnitee indemnitee who has ceased to be a director, officer, employee or agent and shall inure to the benefit of his or her heirs, executors and administrators. Notwithstanding the foregoing provisions of this Section 8.2(A8.2(a), except for Proceedings proceedings to enforce rights to indemnification and advancement of expenses, the Corporation shall indemnify and advance expenses to an Indemnitee indemnitee in connection with a Proceeding proceeding (or part thereof) initiated by such Indemnitee indemnitee only if such Proceeding proceeding (or part thereof) was authorized by the Board.

Appears in 1 contract

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

Right to Indemnification and Advancement of Expenses. To the fullest extent permitted by applicable law, as the same exists or may hereafter be amended, the Corporation shall indemnify and hold harmless each person who is or was made a party or is threatened to be made a party to or is otherwise involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (a Proceeding “proceeding”) by reason of the fact that he or she is or was a director or officer of the Corporation or, while a director or officer of the Corporation, is or was serving at the request of the Corporation as a director, manager, officer, employee or agent of another corporation or of a partnership, limited liability company, joint venture, trust, other enterprise or nonprofit entity, including service with respect to an employee benefit plan (an “Indemniteeindemnitee”), whether the basis of such Proceeding proceeding is alleged action in an official capacity as a director, officer, employee or agent, or in any other capacity while serving as a director, officer, employee or agent, against all liability and loss suffered and expenses (including, without limitation, attorneys’ fees, judgments, fines fines, ERISA excise taxes and penalties and amounts paid in settlement) reasonably incurred by such Indemnitee indemnitee in connection with such Proceedingproceeding. The Corporation shall to the fullest extent not prohibited by applicable law pay the expenses (including including, without limitation, attorneys’ fees) incurred by an Indemnitee indemnitee in defending or otherwise participating in any Proceeding proceeding in advance of its final disposition; disposition (hereinafter an “advancement of expenses”); provided, however, that, to the extent required by applicable law, such payment of expenses in advance of the final disposition of the Proceeding proceeding shall be made only upon receipt of an undertaking (hereinafter an “undertaking”), by or on behalf of the Indemniteeindemnitee, to repay all amounts so advanced if it shall ultimately be determined that the Indemnitee indemnitee is not entitled to be indemnified under this Section 8.2 Article VIII or otherwise. The rights to indemnification and advancement of expenses conferred by this Section 8.2 Article VIII shall be contract rights and such rights shall continue as to an Indemnitee indemnitee who has ceased to be a director, officer, employee or agent and shall inure to the benefit of his or her heirs, executors and administrators. Notwithstanding the foregoing provisions of this Section 8.2(A)8.1, except for Proceedings proceedings to enforce rights to indemnification and advancement of expenses, the Corporation shall indemnify and advance expenses to an Indemnitee indemnitee in connection with a Proceeding proceeding (or part thereof) initiated by such Indemnitee indemnitee only if such Proceeding proceeding (or part thereof) was authorized by the Board.

Appears in 1 contract

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

AutoNDA by SimpleDocs

Right to Indemnification and Advancement of Expenses. To the fullest extent permitted by applicable law, as the same exists or may hereafter be amended, the Corporation shall indemnify and hold harmless each person who is or was made a party or is threatened to be made a party to or is otherwise involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (a Proceeding “proceeding”) by reason of the fact that he or she is or was a director or officer of the Corporation or, while a director or officer of the Corporation, is or was serving at the request of the Corporation as a director, manager, officer, employee or agent of another corporation or of a partnership, limited liability company, joint venture, trust, other enterprise or nonprofit entity, including service with respect to an employee benefit plan (an “Indemniteeindemnitee”), whether the basis of such Proceeding proceeding is alleged action in an official capacity as a director, officer, employee or agent, or in any other capacity while serving as a director, officer, employee or agent, against all liability and loss suffered and expenses (including, without limitation, attorneys’ fees, judgments, fines fines, ERISA excise taxes and penalties and amounts paid in settlement) reasonably incurred by such Indemnitee indemnitee in connection with such Proceedingproceeding. The Corporation shall to the fullest extent not prohibited by applicable law pay the expenses (including including, without limitation, attorneys’ fees) incurred by an Indemnitee indemnitee in defending or otherwise participating in any Proceeding proceeding in advance of its final dispositiondisposition (hereinafter an “advancement of expenses”); provided, however, that, to the extent required by applicable law, such payment of expenses in advance of the final disposition of the Proceeding proceeding shall be made only upon receipt of an undertaking (hereinafter an “undertaking”), by or on behalf of the Indemniteeindemnitee, to repay all amounts so advanced if it shall ultimately be determined that the Indemnitee indemnitee is not entitled to be indemnified under this Section 8.2 or otherwise. The rights to indemnification and advancement of expenses conferred by this Section 8.2 shall be contract rights and such rights shall continue as to an Indemnitee indemnitee who has ceased to be a director, officer, employee or agent and shall inure to the benefit of his or her heirs, executors and administrators. Notwithstanding the foregoing provisions of this Section 8.2(A8.2(a), except for Proceedings proceedings to enforce rights to indemnification and advancement of expenses, the Corporation shall indemnify and advance expenses to an Indemnitee indemnitee in connection with a Proceeding proceeding (or part thereof) initiated by such Indemnitee indemnitee only if such Proceeding proceeding (or part thereof) was authorized by the Board.

Appears in 1 contract

Samples: Purchase Agreement (Landcadia Holdings II, Inc.)

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