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

Right to Indemnification and Advancement of Expenses. Indemnitee shall be indemnified and advanced expenses to the fullest extent provided in, and upon the terms and conditions set forth in, Section 7.2 of the Governing Document as such Section is in effect as of the date of this Agreement, and such Section is hereby incorporated into this Agreement by reference thereto. In addition to the foregoing provision, in the event the Governing Document is amended following the date of this Agreement to increase or otherwise enhance the rights of any current or former director or officer of the Company to indemnification or advancement of expenses, Indemnitee shall be entitled to such increased or enhanced rights to the same extent as such current or former director or officer. For the avoidance of doubt, in the event the Governing Document is amended following the date of this Agreement to decrease or otherwise limit the rights of any indemnification or advancement of expenses for a current or former director or office of the Company, Indemnitee shall continue to be entitled to the same indemnification and advancement rights as Indemnitee is entitled to under this Agreement on the date of this Agreement. Notwithstanding the foregoing, for so long as the Company is subject to the Investment Company Act of 1940, as amended, and the rules and regulations promulgated thereunder (the “Investment Company Act”), the Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable or payable or reimbursable as expenses hereunder if and to the extent that such indemnification or payment or reimbursement of expenses would not be permissible under the Investment Company Act.

Appears in 1 contract

Samples: Indemnification Agreement (Stellus Capital Investment Corp)

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Right to Indemnification and Advancement of Expenses. Indemnitee shall be indemnified and advanced expenses to the fullest extent provided in, and upon the terms and conditions set forth in, Section 7.2 4.8 of the Governing Document as such Section is in effect as of the date of this Agreement, and such Section is hereby incorporated into this Agreement by reference thereto. In addition to the foregoing provision, in the event the Governing Document is amended following the date of this Agreement to increase or otherwise enhance the rights of any current or former director or officer of the Company to indemnification or advancement of expenses, Indemnitee shall be entitled to such increased or enhanced rights to the same extent as such current or former director or officer. For the avoidance of doubt, in the event the Governing Document is amended following the date of this Agreement to decrease or otherwise limit the rights of any indemnification or advancement of expenses for a current or former director or office of the Company, Indemnitee shall continue to be entitled to the same indemnification and advancement rights as Indemnitee is entitled to under this Agreement on the date of this Agreement. Notwithstanding the foregoing, for so long as the Company is subject to the Investment Company Act of 1940, as amended, and the rules and regulations promulgated thereunder (the “Investment Company Act”), the Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable or payable or reimbursable as expenses hereunder if and to the extent that such indemnification or payment or reimbursement of expenses would not be permissible under the Investment Company Act.

Appears in 1 contract

Samples: Indemnification Agreement (New Mountain Finance Corp)

Right to Indemnification and Advancement of Expenses. Indemnitee shall be indemnified and advanced expenses to the fullest extent provided in, and upon the terms and conditions set forth in, Section 7.2 Article V of the Governing Document as such Section Article is in effect as of the date of this Agreement, and such Section Article is hereby incorporated into this Agreement by reference thereto. In addition to the foregoing provision, in the event the Governing Document is amended following the date of this Agreement to increase or otherwise enhance the rights of any current or former director or officer of the Company to indemnification or advancement of expenses, Indemnitee shall be entitled to such increased or enhanced rights to the same extent as such current or former director or officer. For the avoidance of doubt, in the event the Governing Document is amended following the date of this Agreement to decrease or otherwise limit the rights of any indemnification or advancement of expenses for a current or former director or office of the Company, Indemnitee shall continue to be entitled to the same indemnification and advancement rights as Indemnitee is entitled to under this Agreement on the date of this Agreement. Notwithstanding the foregoing, for so long as the Company is subject to the Investment Company Act of 1940, as amended, and the rules and regulations promulgated thereunder (the “Investment Company Act”), the Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable or payable or reimbursable as expenses hereunder if and to the extent that such indemnification or payment or reimbursement of expenses would not be permissible under the Investment Company Act.

Appears in 1 contract

Samples: Indemnification Agreement (New Mountain Finance Corp)

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Right to Indemnification and Advancement of Expenses. Indemnitee shall be indemnified and advanced expenses to the fullest extent provided in, and upon the terms and conditions set forth in, Section 7.2 Article XI of the Governing Document as such Section Article is in effect as of the date of this Agreement, and such Section Article is hereby incorporated into this Agreement by reference thereto. In addition to the foregoing provision, in the event the Governing Document is amended following the date of this Agreement to increase or otherwise enhance the rights of any current or former director or officer of the Company to indemnification or advancement of expenses, Indemnitee shall be entitled to such increased or enhanced rights to the same extent as such current or former director or officer. For the avoidance of doubt, in the event the Governing Document is amended following the date of this Agreement to decrease or otherwise limit the rights of any indemnification or advancement of expenses for a current or former director or office officer of the Company, Indemnitee shall continue to be entitled to the same indemnification and advancement rights as Indemnitee is entitled to under this Agreement on the date of this Agreement. Notwithstanding In any suit brought by the foregoingIndemnitee to enforce a right to indemnification provided for under Article XI of the Governing Document or this Agreement or to an advancement of expenses hereunder, for so long as or brought by the Company is subject to recover an advancement of expenses pursuant to the Investment Company Act terms of 1940, as amended, and the rules and regulations promulgated thereunder (the “Investment Company Act”)an undertaking, the Company shall burden of proving that the Indemnitee is not entitled to be liable indemnified, or to such advancement of expenses, under Article XI of the Governing Document, this Agreement to make any payment of amounts or otherwise indemnifiable or payable or reimbursable as expenses hereunder if and to shall be on the extent that such indemnification or payment or reimbursement of expenses would not be permissible under the Investment Company ActCompany.

Appears in 1 contract

Samples: Indemnification Agreement (Southern Union Co)

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