Common use of Company Bound Clause in Contracts

Company Bound. If a determination is made under Article VI that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any adjudication or arbitration absent (a) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee's statement not materially misleading, in connection with the request for indemnification or the furnishing of information under Section 6.4, or (b) a prohibition of such indemnification under applicable law.