Allowance for Compliance with SEC Requirements. The Indemnified Party acknowledges that the Securities and Exchange Commission (“SEC”) has expressed the opinion that indemnification of directors and officers from liabilities under the Securities Act of 1933 (the “1933 Act”) is against public policy as expressed in the 1933 Act and, is therefore, unenforceable. The Indemnified Party hereby agrees that it will not be a breach of this Agreement for the Corporation to undertake with the SEC in connection with the registration for sale of any stock or other securities of the Corporation from time to time that, in the event a claim for indemnification against such liabilities (other than the payment by the Corporation of expenses incurred or paid by a director of officer of the Corporation in the successful defense of any action, suit or proceeding) is asserted in connection with such stock or other securities being registered, the Corporation will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of competent jurisdiction on the question of whether or not such indemnification by it is against public policy as expressed in the 1933 Act and will be governed by the final adjudication of such issue. The Indemnified Party further agrees that such submission to a court of competent jurisdiction shall not be a breach of this Agreement.
Allowance for Compliance with SEC Requirements. Director acknowledges that the Securities and Exchange Commission ("SEC") has expressed the opinion that indemnification of directors and officers from liabilities under the Securities Act of 1933 (the "Act") is against public policy and therefore unenforceable. Director hereby agrees that it will not be a breach of this Agreement for JMAR to agree with the SEC in connection with the registration for sale of any stock or other securities of JMAR from time to time that, in the event a claim for indemnification against such liabilities (other than the payment by JMAR of expenses incurred or paid by a director or officer of JMAR in the successful defense of any action, suit or proceeding) is asserted in connection with such stock or other securities being registered, JMAR will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of competent jurisdiction the question of whether or not such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue. Director further agrees that such submission to a court of competent jurisdiction shall not be a breach of this Agreement.
Allowance for Compliance with SEC Requirements. Indemnitee acknowledges that the Securities and Exchange Commission (“SEC”) has expressed the opinion that indemnification of directors and officers from liabilities under the Securities Act of 1933, as amended (the “Act”), is against public policy as expressed in the Act and is, therefore, unenforceable. Indemnitee hereby acknowledges and agrees that it will not be a breach of this Agreement for the Company to undertake with the SEC in connection with the registration for sale of any capital stock or other securities of the Company from time to time that, in the event a claim for indemnification against such liabilities (other than the payment by the Company of expenses incurred or paid by a Director or Officer of the Company in the successful defense of any action, suit or proceeding) is asserted in connection with such capital stock or other securities being registered, the Company will, unless a competent outside law firm that has not provided any services to the Company or Indemnitee (or their respective affiliates) (“Independent Law Firm”) at any time over the prior twenty-four month period provides a written opinion that the matter has been settled by controlling precedent, submit to a court of competent jurisdiction the question of whether or not such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue; provided that, unless the aforementioned opinion is rendered, Indemnitee will be entitled to receive advance payments of Expenses pursuant to Paragraph 9 hereof unless and until such determination with respect to public policy may be finally adjudicated by court order or judgment. The Company will provide Indemnitee a copy of all pleadings in such action and not object to Indemnitee joining such action as a party at his or her own expense (and without rights to indemnity under this Agreement), including as an adverse party. Indemnitee further agrees that such submission to a court of competent jurisdiction will not be a breach of this Agreement.
Allowance for Compliance with SEC Requirements. Indemnified Person acknowledges that the Securities and Exchange Commission (“ SEC ”) has expressed the opinion that indemnification of directors and officers from liabilities under the Securities Act of 1933, as amended (the “ Securities Act ”), is against public policy as expressed in the Securities Act and, is therefore, unenforceable. Indemnified Person hereby agrees that if a claim for indemnification against Securities Act liabilities (other than the payment by NAUH of expenses incurred or paid by a director NAUH in the successful defense of any action, suit or proceeding) is asserted in connection with the registration by NAUH of any of its stock or other securities, it will not be a breach of this Agreement for NAUH to submit to a court of competent jurisdiction the question of whether or not such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
