Common use of Effect of Settlement Clause in Contracts

Effect of Settlement. In the event of settlement of any action, suit or proceeding brought or threatened, such indemnification shall apply to all matters covered by the settlement except for matters as to which the Company is advised by counsel (who may be counsel regularly retained to represent the Company) that the Person seeking indemnification, in the opinion of counsel: (a) acted in bad faith or (b) acted with willful misfeasance, gross negligence or reckless disregard of the duties involved in the conduct of such Indemnitee’s position.

Effect of Settlement. In the event of settlement of any action, suit or proceeding brought or threatened, such indemnification shall apply to all matters covered by the settlement except for matters as to which the Company is advised by counsel (who may be counsel regularly retained to represent the Company) that the Person seeking indemnification, in the opinion of counsel: (a) counsel acted in bad faith or (b) acted with willful misfeasance, gross negligence or reckless disregard of the duties involved misconduct in the conduct of such Indemnitee’s position.

Effect of Settlement. In the event of settlement of any action, suit suit, proceeding or proceeding investigation brought or threatened, such indemnification shall apply to all matters covered by the such settlement except for matters as to which the Company is advised by counsel (who may be counsel regularly retained to represent the Company) that the Covered Person seeking indemnification, in the opinion of counsel: (a) acted , was grossly negligent, engaged in fraud or willful misconduct or that any act or omission which was taken by such Covered Person was taken in bad faith or (b) acted with willful misfeasance, gross negligence or reckless disregard of the duties involved in the conduct of such Indemnitee’s positionfaith.

Effect of Settlement. In the event of settlement of any action, suit or proceeding brought or threatened, such indemnification shall apply to all matters covered by the settlement except for matters as to which the Company is advised by counsel (who may be counsel regularly retained to represent the Company) that the Person person seeking indemnification, in the opinion of counsel: (ai) acted in bad faith or (bii) acted with willful misfeasance, gross negligence or reckless disregard of the duties involved in the conduct of such IndemniteeIndemnified Party’s position.