Common use of Advance of Costs, Charges and Expenses Clause in Contracts

Advance of Costs, Charges and Expenses. Subject to the provisions of Section 7 below, any Expenses for which the Corporation is authorized to indemnify the Indemnified Party under the terms of this Agreement (including costs, charges, and expenses, including reasonable attorney’s fees) incurred by an Indemnified Party in connection with any Proceeding or Witness Proceeding shall be paid by the Corporation in advance of the final disposition of such matter; provided, however, that the payment of such Expenses in advance of the final disposition of such Proceeding or Witness Proceeding shall be made only upon receipt of (i) statements by or on behalf of the Indemnified Party reasonably evidencing the Expenses to be incurred, and (ii) an undertaking by or on behalf of the Indemnified Party to repay all amounts so advanced in the event that it shall ultimately be determined that the Indemnified Party is not entitled to be indemnified by the Corporation as authorized in this Agreement. Such undertaking shall be accepted without reference to the financial ability of the Indemnified Party to make such repayment. Any advances and undertakings to repay pursuant to this Section 6 shall be unsecured and interest free.

Advance of Costs, Charges and Expenses. Subject to the provisions of Section Paragraph 7 below, any Expenses for which the Corporation is authorized to indemnify the Indemnified Party under the terms of this Agreement (including costs, charges, and expenses, including reasonable attorney’s fees) incurred by an Indemnified Party in connection with any Proceeding or Witness Proceeding shall be paid by the Corporation in advance of the final disposition of such matter; provided, however, that the payment of such Expenses in advance of the final disposition of such Proceeding or Witness Proceeding shall be made only upon receipt of (i) statements by or on behalf of the Indemnified Party reasonably evidencing the Expenses to be incurred, and (ii) an undertaking by or on behalf of the Indemnified Party to repay all amounts so advanced in the event that it shall ultimately be determined that the Indemnified Party is not entitled to be indemnified by the Corporation as authorized in this Agreement. Such undertaking shall be accepted without reference to the financial ability of the Indemnified Party to make such repayment. Any advances and undertakings to repay pursuant to this Section Paragraph 6 shall be unsecured and interest free.

Advance of Costs, Charges and Expenses. Subject to the provisions of Section Paragraph 7 below, any Expenses for which the Corporation is authorized to indemnify the Indemnified Party under the terms of this Agreement (including costs, charges, and expenses, including reasonable attorney’s attorneys fees) incurred by an Indemnified Party in connection with any Proceeding or Witness Proceeding shall be paid by the Corporation in advance of the final disposition of such matter; provided, however, that the payment of such Expenses in advance of the final disposition of such Proceeding or Witness Proceeding shall be made only upon receipt of (i) statements by or on behalf of the Indemnified Party reasonably evidencing the Expenses to be incurred, and (ii) an undertaking by or on behalf of the Indemnified Party to repay all amounts so advanced in the event that it shall ultimately be determined that the Indemnified Party is not entitled to be indemnified by the Corporation as authorized in this Agreement. Such undertaking shall be accepted without reference to the financial ability of the Indemnified Party to make such repayment. Any advances and undertakings to repay pursuant to this Section Paragraph 6 shall be unsecured and interest free.