Common use of ADVANCES AND INTERIM EXPENSES Clause in Contracts

ADVANCES AND INTERIM EXPENSES. The Company may pay to the Executive Officer all Indemnifiable Expenses incurred by the Executive Officer in connection with any Proceeding, including a Proceeding by or in the right of the Company, in advance of the final disposition of such Proceeding, if the Executive Officer furnishes the Company with a written undertaking, to the satisfaction of the Company, to repay the amount of such Indemnifiable Expenses advanced to the Executive Officer in the event it is finally determined by a court or arbitral body of competent jurisdiction that the Executive Officer is not entitled under this Agreement to indemnification with respect to such Indemnifiable Expenses.

ADVANCES AND INTERIM EXPENSES. The Company may pay to the Executive Officer Director all Indemnifiable Expenses incurred by the Executive Officer Director in connection with any Proceeding, including a Proceeding by or in the right of the Company, in advance of the final disposition of such Proceeding, if the Executive Officer Director furnishes the Company with a written undertaking, to the satisfaction of the Company, to repay the amount of such Indemnifiable Expenses advanced to the Executive Officer Director in the event it is finally determined by a court or arbitral body of competent jurisdiction that the Executive Officer Director is not entitled under this Agreement to indemnification with respect to such Indemnifiable Expenses.