Advancement of Funds. The Company shall be permitted to advance funds to the Indemnified Party for legal expenses and other costs incurred as a result of any legal action for which indemnification is being sought only if all of the following conditions are met: (i) The legal action relates to acts or omissions with respect to the performance of duties or services on behalf of the Company; (ii) The legal action is initiated by a third party who is not a Company stockholder, or the legal action is initiated by a Company stockholder and a court of competent jurisdiction specifically approves such advancement; and (iii) The Indemnified Party undertakes to repay the advanced funds to the Company, together with the applicable legal rate of interest thereon, in cases in which the Indemnified Party is not found to be entitled to indemnification.
Appears in 9 contracts
Samples: Investment Advisory and Management Services Agreement (Business Development Corp of America), Investment Advisory and Management Services Agreement (BUSINESS DEVELOPMENT Corp OF AMERICA II), Investment Advisory and Management Services Agreement (BUSINESS DEVELOPMENT Corp OF AMERICA II)
Advancement of Funds. The Company shall be permitted to advance funds to the Indemnified Party for legal expenses and other costs incurred as a result of any legal action for which indemnification is being sought only if all of the following conditions are met:
(i) The legal action relates to acts or omissions with respect to the performance of duties or services on behalf of the Company;
(ii) The legal action is initiated by a third party who is not a Company stockholder, or the legal action is initiated by a Company stockholder and a court of competent jurisdiction specifically approves such advancement; and
(iiiii) The Indemnified Party undertakes to repay the advanced funds to the Company, together with the applicable legal rate of interest thereon, in cases in which the Indemnified Party is not found to be entitled to indemnification.
Appears in 5 contracts
Samples: Advisory Agreement (Greenbacker Renewable Energy Co LLC), Advisory Agreement (Greenbacker Renewable Energy Co LLC), Advisory Agreement (Greenbacker Renewable Energy Co LLC)
Advancement of Funds. The To the maximum extent permitted by law, the Company shall be permitted to advance funds to the Indemnified Party for legal expenses and other costs incurred as a result of any legal action for which indemnification is being sought only if all of the following conditions are met:
(i) The legal action relates to acts or omissions with respect to the performance of duties or services on behalf of the Company;
(ii) The legal action is initiated by a third party who is not a Company stockholder, or the legal action is initiated by a Company stockholder and a court of competent jurisdiction specifically approves such advancement; and
(iii) The Indemnified Party undertakes to repay the advanced funds to the Company, together with the applicable legal rate of interest thereon, in cases in which the Indemnified Party is not found to be entitled to indemnification.
Appears in 2 contracts
Samples: Investment Advisory and Management Services Agreement (Business Development Corp of America), Investment Advisory and Management Services Agreement (Business Development Corp of America)
Advancement of Funds. The Subject to Section 8(d) below, the Company shall be permitted to advance funds to the Indemnified Party for legal expenses and other costs incurred as a result of any legal action for which indemnification is being sought only if all of the following conditions are met:
(i) The legal action relates to acts or omissions with respect to the performance of duties or services on behalf of the Company;
(ii) The legal action is initiated by a third party who is not a Company stockholder, or the legal action is initiated by a Company stockholder and a court of competent jurisdiction specifically approves such advancement; and
(iii) The Indemnified Party undertakes to repay the advanced funds to the Company, together with the applicable legal rate of interest thereon, in cases in which the Indemnified Party is not found to be entitled to indemnification.
Appears in 2 contracts
Samples: Investment Advisory and Administrative Services Agreement (Age Reversal, Inc.), Investment Advisory and Administrative Services Agreement (Keating Capital Inc)
Advancement of Funds. The Company Corporation shall be permitted to advance funds to the Indemnified Party for legal expenses and other costs incurred as a result of any legal action for which indemnification is being sought only if all of the following conditions are met:
(i) The legal action relates to acts or omissions with respect to the performance of duties or services on behalf of the CompanyCorporation;
(ii) The legal action is initiated by a third party who is not a Company Corporation stockholder, or the legal action is initiated by a Company Corporation stockholder and a court of competent jurisdiction specifically approves such advancement; and
(iii) The Indemnified Party undertakes to repay the advanced funds to the CompanyCorporation, together with the applicable legal rate of interest thereon, in cases in which the Indemnified Party is not found to be entitled to indemnification.
Appears in 1 contract
Samples: Investment Advisory and Management Agreement (Gladstone Lending Corp)
