Expense Advance. The right of indemnification as granted in this Article 10 will be a contractual right and will include the right to receive payment by the Company for expenses incurred with any legal process prior to the final judgment. Such advances will be paid by the Company within twenty day from the date of receipt of a report or reports from the claimant requesting such advance or advances on a timely basis, under the condition that if DGCL so requires, payment of said expenses incurred by such director or employee in his/her capacity as director or employee (and not in another capacity provided or that has been provided by such person during his/her term as director or employee, including but not limited to, services to benefit the employee) prior to the final judgment of a legal process be carried out only through previous presentation before the Company of a commitment by such director or employee or on behalf of the same to reimburse all amounts paid to same as an advance if it is determined that said director or employee does not have the right to be indemnified in accordance with this Article 10 or another.
Appears in 4 contracts
Samples: Concession Agreement for Exploration and Exploitation of Hydrocarbons (Infinity Energy Resources, Inc), Concession Agreement for the Exploration and Exploitation of Hydrocarbons (Infinity Energy Resources, Inc), Concession Agreement for Exploration and Exploitation of Hydrocarbons (Infinity Energy Resources, Inc)
