Advancement of Defence Costs. The Insurer will meet Defence Costs as and when they are incurred, including Defence Costs incurred on behalf of an Insured who is alleged to have committed or condoned dishonesty or a fraudulent act or omission, provided that the Insurer is not liable for Defence Costs incurred on behalf of that Insured after the earlier of:
(a) that Insured admitting to the Insurer the commission or condoning of such dishonesty, act or omission; or
(b) a court or other judicial body finding that that Insured was in fact guilty of such dishonesty, act or omission.
Advancement of Defence Costs. The Company shall, prior to the final disposition of any Claim, advance Defence Costs within thirty (30) days of receipt of an invoice for same from defence counsel Any advancement of Defence Costs shall be repaid to the Company by the Insured’s, severally according to their respective interests, if and to the extent it is determined that such Defence Costs are not insured under this policy.
Advancement of Defence Costs. If Underwriters have not denied indemnity for the Claim then the Underwriters shall at their sole discretion consent to advance Defence Costs on behalf of Directors and Officers or the Company prior to the final settlement of the Claim provided that such advance payments of Defence Costs shall be repayable to the Underwriters in the event and to the extent that it is determined that Directors and Officers or the Company are not entitled under this Insurance to payment of such Defence Costs.
Advancement of Defence Costs. Where the Insurer elects not to take over and conduct the defence or settlement of any Claim in the name of any Officers, the Insurer shall meet the Defence Costs of any Officers in defending or settling any Claim made against them as they are incurred and prior to the finalisation of the Claim provided always that indemnity in respect of such Claim has been confirmed in writing by the Where the Insurer has not confirmed indemnity and it elects not to take over and conduct the defence of any Claim, it may, in its discretion, advance Defence Costs as they are incurred and prior to the finalisation of the Claim. The Insurer reserves the right to recover any Defence Costs from the Officers and /or the Body Corporate severally according to their respective interests in the event and to the extent that it is established that the Officers and / or the Body Corporate were not entitled to the Defence Costs so advanced.
Advancement of Defence Costs. The Company will pay for Defence Costs as and when these costs are incurred by the Insured with prior consent of the Company in respect of a Claim covered under Insuring Clause 1.1 or under any applicable extension subject to the terms and conditions of this insurance in respect of matters which have a direct relevance to any claim made or which might be made against the Insured provided such Claim or Claims are the subject matter of indemnity under the Policy . However, each Insured shall repay to the Company all payments of Defence Costs incurred on Insured’s behalf, if and to the extent, it is established that such Defence Costs are not insured under the Policy. Defence Costs are subject to the Deductible and form a part of the Limit of Liability.
Advancement of Defence Costs. Notwithstanding the provisions of the ‘Fraud’ clause, and subject to the applicable excess, we will indemnify you in respect of defence costs as and when they are incurred, including defence costs incurred on behalf of an insured who is alleged to have committed or condoned a dishonest or fraudulent act or omission, provided that we are not liable for defence costs incurred on behalf of such insured after the earlier of:
a) you admitting to us the commission or condoning of such dishonest or fraudulent act or omission; or
b) a court or other judicial body finding that you were in fact guilty of such dishonest or fraudulent act or omission. Each insured who admits to us the commission or condoning of such dishonest or fraudulent act or omission, or against whom there is a finding of a court or other judicial body that such insured was in fact guilty of such dishonest or fraudulent act or omission shall reimburse us in respect of defence costs advanced on that insured’s behalf.
Advancement of Defence Costs. The Corporation shall promptly advance, from time to time, to the Indemnitees reasonable amounts in respect of costs, charges and expenses, including, without limitation, legal and investigative fees and charges, to enable the Indemnitee to defend any Claim.
