Advanced Expenses. Expenses incurred by a Manager or Indemnified Officer in defending a civil or criminal claim, action, suit or proceeding may, upon approval of a majority (but not less than two) of the Disinterested Managers, even though less than a quorum, or, if here are less than two Disinterested Managers upon approval of the board of managers, be paid by the Company in advance of the final disposition of such claim, action, suit or proceeding upon receipt of an undertaking by or on behalf of the director of Indemnified Officer to repay such amount unless it shall ultimately be determined that he is entitled to be indemnified against such expenses by the Company.
Advanced Expenses. To the maximum extent permitted by applicable Law, expenses (including reasonable legal fees) incurred by an Indemnified Person in defending any Proceeding shall, from time to time, be advanced by the Company prior to the final disposition of such Proceeding upon receipt by the Company of a written undertaking by or on behalf of the Indemnified Person to repay such amount if it shall be ultimately determined that the Indemnified Person is not entitled to be indemnified pursuant to this Article X.
Advanced Expenses. Freelancer may request an advance to cover expected expenses, providing adequate Expense Reimbursement Documentation. The advance should be used exclusively for the purpose stated unless otherwise agreed in writing. Alterantively, Freelancer may arrange for bills over $500 for Client-relevant expenses to be sent to the Client directly. Invoicing and Payment Unless the Client agrees to an Advance for Expenses, Client payment requires prior receipt of authorized expense receipts and service invoices. Mode of payment will be through a bank transfer, with details provided in the Agreement. Taxes, if applicable, will be covered by the Client. •
Advanced Expenses. REG will pay the expenses of the Company through August 15, 2013 as follows (the “Advanced Expenses”):
(a) Accrued accounting fees of Xxxxxx of $100,000 in exchange for their commitment to perform the Company audit(s), interim reviews and other procedures that may be required to facilitate the transaction and remaining amounts owed upon completion of the audit(s), interim reviews and other procedures that may be required to facilitate the transaction.
(b) Actual cash operating expenses of the Facility approved in advance by REG, with a right to reject, as and when payable in the Ordinary Course estimated at no more than $75,000 per month accrued after the date hereof through the Closing or termination of this Agreement and assuming no production at the Facility.
(c) Actual professional fees, including, accounting, legal, and consultant fees to facilitate the transaction incurred after April 18, 2013. REG will pay no more than $750,000 for these amounts. REG, at its sole discretion, will pay these amounts directly to the payable holders, or may choose to have the Company pay with REG reimbursing the Company. In the event this Agreement is terminated pursuant to Section 10.1 hereof, the Advanced Expenses shall be immediately repaid upon such termination with interest accrued from the date of advance until paid in full at a rate of 8% per anum plus the costs of collection, (including attorneys' fees and related changes). The repayment obligation of the Advanced Expenses and any other amounts payable by the Company to REG or Purchaser under this Agreement, including, but not limited to, any Termination Fee and costs of collection, shall be secured by a security interest and mortgage on all assets of the Company in the form of the Purchaser Security Agreement attached as Exhibit A and the Purchaser Mortgage attached as Exhibit B hereto to be executed simultaneous with the execution of this Agreement. The Purchase Price payable at Closing shall be reduced by the amount of the Advanced Expenses plus accrued interest.
Advanced Expenses. Consultant will be advanced Twenty-five Thousand USD ($25,000) every year providing this agreement remains valid and agreed. The initial payment will be due upon (a) the company raising funds over Two hundred Thousand USD ($200,000) from the effective date of this agreement (b) the company obtaining OTCQB Status.
Advanced Expenses. Expenses incurred by an Indemnified Party in defense or settlement of any claim that appear to be subject to a right of indemnification hereunder may be advanced by the Company prior to the final disposition thereof; provided, however, that prior to such advancement, the Indemnified Party shall have agreed in a writing (determined to be sufficient by the Board to protect the interests of the Company) to repay such advancement to the extent that it shall be determined by a court of competent jurisdiction or an arbitrator that such Indemnified Party is not entitled to be indemnified hereunder.
Advanced Expenses. In addition to the above, OCC will reimburse Semble for all out-of-pocket expenses incurred by Semble in the fulfillment of its responsibilities under this Agreement, including, but not limited to, approved travel expenses incurred by Semble, costs associated with the formation and annual renewal of Newco and third-party accounting fees for Newco, if any. Reimbursement for such expenses will due within 15 days following receipt of Semble’s expense report. For helping you secure a loan with the following key terms outlined below, Consulting Services will include the following: Loan Amount = Up to $3,500,00 Interest Rate = 2% to 5% (full discretion of Borrower) Length of Loan = 5 to 7 years (full discretion of Borrower)
Advanced Expenses. Upon execution of this Agreement, Participant shall remit its Participation Interest share, as calculated in Paragraph 6 below of Six Million Dollars ($6.000.000) to be applied toward expenditures by SECI for the acquisition of leasehold within the Project Area. In a like manner, SECI will continue to request additional amounts to cover amounts it reasonably expects to incur for ongoing leasehold acquisition expenditures within the Project Area. SECI shall invoice Participant for its share of the advance, and Participant will have fifteen (15) business days from receipt of such invoice in which to remit payment of such invoice or notify SECI in writing of its election to withdraw from participation in the Project Area. Failure to remit this advance payment on or before the end of such fifteen-day period will be deemed an election to withdraw from the Project Area and Participant shall not be entitled to any further leasehold acquired unless the payment is made within five (5) business days of a second and final notice of the advance payment. Participant will be entitled to its Participation Interest share of any leases acquired with funds billed to and paid by Participant pursuant to this paragraph. As to leasehold costs other than bonus, brokerage or option payments incurred in any month during which Participant was participating in leasehold expenditures, for any portion of that month, Participant will be responsible for advancing its share (as set for the Paragraph 6 hereof) of such costs, regardless of the status of Participant at the time of billing. Upon Participant’s withdrawal from future acquisitions within the Project Area, Participant will not be responsible for such leasehold costs beginning with costs incurred in the month following Participant’s withdrawal, unless such costs are attributable to leasehold previously earned by Participant. Participant’s participation under this Agreement is limited to Participant’s expenditure of a net $750.000.00, inclusive of advanced expenses, for leasehold acquisition (bonus, lease, maintenance and brokerage combined). After Participant’s net expenditure of $750,000.00, Participant may withdraw from future acreage acquisitions, but may only do so in writing by giving thirty (30) days advance written notice to SECI of Participants intent to withdraw from the acquisition of additional leasehold rights, otherwise Participant shall continue and shall be responsible for Its proportionate share of costs up lo and...
