Common use of Excluded Coverage Clause in Contracts

Excluded Coverage. The Corporation shall have no obligation to indemnify the Indemnitee for and hold him or her harmless from any loss or expense which has been determined, by final adjudication by a court of competent jurisdiction, to constitute an Excluded Claim (as hereinafter defined). For purposes of this Agreement, an Excluded Claim shall mean any payment for losses or expenses in connection with any claim: (i) Based upon or attributable to the Indemnitee gaining in fact any personal profit or advantage to which the Indemnitee is not entitled; (ii) For the return by the Indemnitee of any remuneration paid to the Indemnitee without the previous approval of the stockholders of the Corporation which is illegal; (iii) For an accounting of profits in fact made from the purchase or sale by the Indemnitee of securities of the Corporation within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or similar provisions of any state law; (iv) Resulting from the Indemnitee's knowingly fraudulent, dishonest or willful misconduct; or (v) The payment of which by the Corporation under this Agreement is not permitted by applicable law.

Excluded Coverage. The Corporation shall have no obligation to indemnify the Indemnitee for and hold him or her harmless from any loss or expense which has been determined, by final adjudication by a court of competent jurisdiction, to constitute an Excluded Claim (as hereinafter defined). For purposes of this Agreement, an Excluded Claim shall mean any payment for losses or expenses in connection with any claim: (i) Based based upon or attributable to the Indemnitee gaining in fact any personal profit or advantage to which the Indemnitee is not entitled; (ii) For for the return by the Indemnitee of any remuneration paid to the Indemnitee without the previous approval of the stockholders of the Corporation which is illegal; (iii) For for an accounting of profits in fact made from the purchase or sale by the Indemnitee of securities of the Corporation within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or similar provisions of any state law; (iv) Resulting resulting from the Indemnitee's knowingly fraudulent, dishonest or willful misconduct; or (v) The the payment of which by the Corporation under this Agreement is not permitted by applicable law.

Excluded Coverage. The Corporation shall have no obligation to indemnify the Indemnitee for and hold him or her harmless from any loss or expense which has been determined, by final adjudication by a court of competent jurisdiction, to constitute an Excluded Claim (as hereinafter defined)Claim. For purposes of this Agreement, an Excluded Claim shall mean any payment for losses or expenses in connection with any claim: (i) Based upon or attributable to the Indemnitee gaining in fact any personal profit or advantage to which the Indemnitee is not entitled; (ii) For the return by the Indemnitee of any remuneration Indemnitee received or which was paid to or for the benefit of Indemnitee without the previous approval of the stockholders of the Corporation which is illegal; (iii) For an accounting of profits in fact made from the purchase or sale by the Indemnitee of securities of the Corporation within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the "“Exchange Act"”), or similar provisions of any state law; (iv) Resulting from the Indemnitee's ’s knowingly fraudulent, dishonest or willful misconduct; or (v) The payment of which by the Corporation under this Agreement is not permitted by applicable law.