Common use of Contractual Nature of Rights Clause in Contracts

Contractual Nature of Rights. The foregoing provisions of this Section 3.4 shall be deemed to be a contract between the Company and each Member, Manager, officer, employee or agent of the Company or of the Company’s, direct or indirect, subsidiaries, who serves in such capacity at any time while this Section 3.4 is in effect, and any repeal or modification hereof shall not affect any rights or obligations then existing with respect to any state of facts then or theretofore existing or any proceeding theretofore or thereafter brought based in whole or in part upon any such state of facts. The failure of the Company (including the Member, Manager or independent legal counsel) to make a determination concerning the permissibility of such indemnification or advancement of expenses under this Section 3.4 shall not be a defense to the action and shall not create a presumption that such indemnification or advancement is not permissible.