Common use of Advance Reimbursement Clause in Contracts

Advance Reimbursement. Reasonable expenses incurred by a person described in Section 10.1 who was, is or is threatened to be named a defendant or respondent in a proceeding may be paid or reimbursed by the Joint Venture in advance of the final disposition of the proceeding after (i) the Joint Venture receives a written affirmation by the person of his or her good faith belief that he or she has met the standard of conduct necessary for indemnification under this Article X, and (ii) a written undertaking by or on behalf of the person to repay the amount paid or reimbursed if it is ultimately determined that he or she has not met the requirements of this Article X.

Advance Reimbursement. Reasonable expenses incurred by a person described in Section 10.1 Venturer under this Article X who was, is or is threatened to be named a defendant or respondent in a proceeding may be paid or reimbursed by the Joint Venture in advance of the final disposition of the proceeding after (i) the Joint Venture receives a written affirmation by the person Venturer of his or her good faith belief that he or she has met the standard of conduct necessary for indemnification under this Article X, X and (ii) a written undertaking by or on behalf of the person Venturer to repay the amount paid or reimbursed if it is ultimately determined that he or she has not met the requirements of this Article X.