Common use of Advancement of Costs Clause in Contracts

Advancement of Costs. XStream shall advance to the Executive all reasonable costs and expenses incurred by Executive in connection with a Proceeding within twenty (20) days after receipt by XStream of a written request for such advance. Such request shall include an undertaking by Executive to repay the amount of such advance if it shall ultimately be determined that Executive is not entitled to be indemnified against such costs and expenses; provided that the amount of such entitled to be indemnified against such costs and expenses; provided that the amount of such obligation to repay shall be limited to the after-tax amount of any such advance except to the extent Executive is able to offset such taxes incurred on the advance by the tax benefit, if any, attributable to a deduction for the repayment.

Advancement of Costs. XStream shall advance to the Executive all reasonable costs and expenses incurred by Executive in connection with a Proceeding within twenty (20) days after receipt by XStream of a written request for such advance. Such request shall include an undertaking by Executive to repay the amount of such advance if it shall ultimately be determined that Executive is not entitled to be indemnified against such costs and expenses; provided that the amount of such entitled to be indemnified against such costs and expenses; provided that the amount of such obligation to repay shall be limited to the after-tax amount of any such advance except to the extent Executive is able to offset such taxes incurred on the advance by the tax benefit, if any, attributable to a deduction for the repayment.