Common use of Expense Advancement Clause in Contracts

Expense Advancement. With respect to the expenses actually and reasonably incurred by a Member or Manager who is a party to a Proceeding, the Company shall provide funds to such Person in advance of the final disposition of the Proceeding if the Person furnishes the Company with such Person's written affirmation of a good-faith belief that such Person has met the standard of conduct described in the Act, and such Person agrees in writing to repay the advance if it is subsequently determined that such Person has not met such standard of conduct.

Expense Advancement. With respect to the expenses actually and reasonably incurred by a Member Member, Manager or Manager member of the Executive Committee who is a party to a Proceeding, the Company shall provide funds to such Person Member in advance of the final disposition of the Proceeding if the Person furnishes the Company with such Person's written affirmation of a good-faith belief that such Person has met the standard of conduct described in the Act, and such Person agrees in writing to repay the advance if it is subsequently determined that such Person has not met such standard of conduct.