Advance Payments. Except as limited by law, expenses incurred by a Manager in defending any proceeding, including a proceeding by or in the right of the Company, shall be paid by the Company to the Manager in advance of final disposition of the proceeding upon receipt of its written undertaking to repay such amount if the Manager is determined pursuant to this Article or adjudicated to be ineligible for indemnification, which undertaking shall be an unlimited general obligation but need not be secured and may be accepted without regard to the financial ability of the Manager to make repayment; provided, however, that no such advance payment of expenses shall be made if it is determined pursuant to Section 4.3 of this Article on the basis of the circumstances known at the time (without further investigation) that the Manager is ineligible for indemnification.
Appears in 9 contracts
Samples: Operating Agreement, Operating Agreement (Keyspan Corp), Operating Agreement (Keyspan Corp)
Advance Payments. Except as limited by law, expenses incurred by a ----------------- Manager in defending any proceeding, including a proceeding by or in the right of the Company, shall be paid by the Company to the Manager in advance of final disposition of the proceeding upon receipt of its written undertaking to repay such amount if the Manager is determined pursuant to this Article or adjudicated to be ineligible for indemnification, which undertaking shall be an unlimited general obligation but need not be secured and may be accepted without regard to the financial ability of the Manager to make repayment; provided, -------- however, that no such advance payment of expenses shall be made if it is --- determined pursuant to Section 4.3 of this Article on the basis of the --- circumstances known at the time (without further investigation) that the Manager --- is ineligible for indemnification.
Appears in 4 contracts
Samples: Operating and Joint Venture Agreement (Afg Investment Trust C), Operating and Joint Venture Agreement (Afg Investment Trust D), Operating and Joint Venture Agreement (Afg Investment Trust C)
Advance Payments. Except as limited by law, expenses incurred by a ---------------- Manager in defending any proceeding, including a proceeding by or in the right of the Company, shall be paid by the Company to the Manager in advance of final disposition of the proceeding upon receipt of its written undertaking to repay such amount if the Manager is determined pursuant to this Article or adjudicated to be ineligible for indemnification, which undertaking shall be an unlimited general obligation but need not be secured and may be accepted without regard to the financial ability of the Manager to make repayment; provided, however, that no such advance payment of expenses shall be made if it is determined pursuant to Section 4.3 of this Article on the basis of the circumstances known at the time (without further investigation) that the Manager is ineligible for indemnification.
Appears in 3 contracts
Samples: Operating Agreement (Afg Investment Trust C), Operating Agreement (Afg Investment Trust B), Operating Agreement (Afg Investment Trust D)
Advance Payments. Except as limited by law, expenses incurred by a ----------------- Manager in defending any proceeding, including a proceeding by or in the right of the Company, shall be paid by the Company to the Manager in advance of final disposition of the proceeding upon receipt of its written undertaking to repay such amount if the Manager is determined pursuant to this Article or adjudicated to be ineligible for indemnification, which undertaking shall be an unlimited general obligation but need not be secured and may be accepted without regard to the financial ability of the Manager to make repayment; provided, however, that -------- ------- no such advance payment of expenses shall be made if it is determined pursuant to Section 4.3 of this Article on the basis of the circumstances known at the time (without further investigation) that the Manager is ineligible for indemnification.
Appears in 2 contracts
Samples: Operating and Joint Venture Agreement (Semele Group Inc), Operating and Joint Venture Agreement (Semele Group Inc)
Advance Payments. Except as limited by law, expenses incurred by a Manager in defending any proceeding, including include a proceeding by or in the right of the Company, shall be paid by the Company to the Manager in advance of final disposition of the proceeding upon receipt of its written undertaking to repay such amount if the Manager is determined pursuant to this Article or adjudicated to be ineligible for indemnification, which undertaking shall be an unlimited general obligation but need not be secured and may be accepted without regard to the financial ability of the Manager to make repayment; provided, however, that no such advance payment of expenses shall be made if it is determined pursuant to Section 4.3 12.2 of this Article on the basis of the circumstances known at the time (without further investigation) that the Manager is ineligible for indemnification.
Appears in 1 contract
Samples: Operating Agreement (Ridgewood Electric Power Trust Iv)
Advance Payments. Except as limited by law, expenses incurred by a Manager Member in defending any proceeding, including a proceeding by or in the right of the CompanyLLC, shall be paid by the Company LLC to the Manager Member in advance of final disposition of the proceeding upon receipt of its written undertaking to repay such amount if the Manager Member is determined pursuant to this Article or adjudicated to be ineligible for indemnification, which undertaking shall be an unlimited general obligation but need not be secured and may be accepted without regard to the financial ability of the Manager Member to make repayment; provided, however, that no such advance payment of expenses shall be made if it is determined pursuant to Section 4.3 3.02 of this Article on the basis of the circumstances known at the time (without further investigation) that the Manager Member is ineligible for indemnification.:
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Synagro Technologies Inc)
Advance Payments. Except as limited by law, expenses incurred by a the Manager in defending any proceeding, including a proceeding by or in the right of the CompanyLLC, shall be paid by the Company LLC to the Manager in advance of final disposition of the proceeding proceedings upon receipt of its written undertaking to repay such amount if of the Manager is determined pursuant to this Article or adjudicated to be ineligible for indemnification, which undertaking shall be an unlimited general obligation but need not be secured and may be accepted without regard to the financial ability of the Manager to make repayment; provided, however, that no such advance payment of expenses shall be made if it is determined pursuant to Section 4.3 4.02 of this Article on the basis of the circumstances known at the time (without further investigation) that the Manager is ineligible for indemnification.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Ridgewood Power Growth Fund /Nj)