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Common use of Expense Advances Clause in Contracts

Expense Advances. If so requested by Indemnitee, the Company shall advance (within ten business days of such request) any and all Expenses to Indemnitee (an "Expense Advance"); proved that, if and to the extent that the Reviewing Party determines that Indemnitee would not be permitted to be so indemnified under applicable law, the Company shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse the Company) for all such amounts theretofore paid. If Indemnitee has commenced legal proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be indemnified under applicable law, as provided in Section 4, any determination made by the Reviewing Party that Indemnitee would not be permitted to be indemnified under applicable law shall not be binding and Indemnitee shall not be required to reimburse the Company for any Expense Advance until a final judicial determination is made with respect thereto (as to which all rights of appeal there from have been exhausted or have lapsed). Indemnitee's obligation to reimburse the Company for Expense Advances shall be unsecured and no interest shall be charged thereon.

Appears in 6 contracts

Samples: Indemnification Agreement (Texxon Inc), Indemnification Agreement (Texxon Inc), Indemnification Agreement (Texxon Inc)

Expense Advances. If so requested by Indemnitee, the Company shall advance (within ten business days of such request) any and all Expenses to Indemnitee (an "Expense Advance"); proved that, if and to the extent that the Reviewing Party determines that Indemnitee would not be permitted to be so indemnified under applicable law, the Company shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse the Company) for all such amounts theretofore paid. If Indemnitee has commenced legal proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be indemnified under applicable law, as provided in Section 4, any determination made by the Reviewing Party that Indemnitee would not be permitted to be indemnified under applicable law shall not be binding and Indemnitee shall not be required to reimburse the Company for any Expense Advance until unit a final judicial determination is made with respect thereto (as to which all rights of appeal there from therefrom have been exhausted or have lapsed). Indemnitee's obligation to reimburse the Company for Expense Advances shall be unsecured and no interest shall be charged thereon.

Appears in 6 contracts

Samples: Indemnification Agreement (Micrel Inc), Indemnification Agreement (Micrel Inc), Indemnification Agreement (Micrel Inc)

Expense Advances. If so requested by Indemnitee, the Company shall advance (within ten business days of such request) any and all Expenses to Indemnitee (an "Expense Advance"); proved provided that, if and to the extent that the Reviewing Party determines that Indemnitee would not be permitted to be so indemnified under applicable law, the Company shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse the Company) for all such amounts theretofore paid. If Indemnitee has commenced or commences legal proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be indemnified under applicable law, as provided in Section 4, any determination made by the Reviewing Party that Indemnitee would not be permitted to be indemnified under applicable law shall not be binding and Indemnitee shall not be required to reimburse the Company for any Expense Advance until a final judicial determination is made with respect thereto (as to which all rights of appeal there from therefrom have been exhausted or have lapsed). Indemnitee's obligation to reimburse the Company for Expense Advances shall be unsecured and no interest shall be charged thereon.

Appears in 5 contracts

Samples: Indemnification Agreement (VistaGen Therapeutics, Inc.), Indemnification Agreement (VistaGen Therapeutics, Inc.), Indemnification Agreement (VistaGen Therapeutics, Inc.)

Expense Advances. If so requested by Indemnitee, the Company shall advance (within ten business days of such request) any and all Expenses to Indemnitee (an "Expense Advance"); proved provided that, if and to the extent that the Reviewing Party determines that Indemnitee would not be permitted to be so indemnified under applicable law, the Company shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse the Company) for all such amounts theretofore paid. If Indemnitee has commenced or commences legal proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be indemnified under applicable law, as provided in Section 4, any determination made by the Reviewing Party that Indemnitee would not be permitted to be indemnified under applicable law shall not be binding and Indemnitee shall not be required to reimburse the Company for any Expense Advance until a final judicial determination is made with respect thereto (as to which all rights of appeal there from therefrom have been exhausted or have lapsed). Indemnitee's ’s obligation to reimburse the Company for Expense Advances shall be unsecured and no interest shall be charged thereon.

Appears in 4 contracts

Samples: Indemnification Agreement (Excaliber Enterprises, Ltd.), Indemnification Agreement (Excaliber Enterprises, Ltd.), Indemnification Agreement (Excaliber Enterprises, Ltd.)

Expense Advances. If so requested by Indemnitee, the Company shall advance (within ten business days of such request) any and all Expenses to Indemnitee (an "Expense Advance"); proved provided that, if and to the extent that the Reviewing Party determines that Indemnitee would not be permitted to be so indemnified under applicable law, the Company shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse the Company) for all such amounts theretofore paid. If Indemnitee has commenced legal proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be indemnified under applicable law, as provided in Section 4, any determination made by the Reviewing Party that Indemnitee would not be permitted to be indemnified under applicable law shall not be binding and Indemnitee shall not be required to reimburse the Company for any Expense Advance until a final judicial determination is made with respect thereto (as to which all rights of appeal there from therefrom have been exhausted or have lapsed). Indemnitee's obligation to reimburse the Company for Expense Advances shall be unsecured and no interest shall be charged thereon.

Appears in 3 contracts

Samples: Employment Agreement (Cylink Corp /Ca/), Indemnification Agreement (Photon Dynamics Inc), Indemnification Agreement (Madge Networks Nv)

Expense Advances. If so requested by Indemnitee, the Company shall advance (within ten business days of such request) any and all Expenses to Indemnitee (an "Expense Advance"); proved provided that, if and to the extent that the Reviewing Party determines that Indemnitee would not be permitted to be so indemnified under applicable law, the Company shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse the Company) for all such amounts theretofore paid. If Indemnitee has commenced legal proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be indemnified under applicable law, as provided in Section 4, any determination made by the Reviewing Party that Indemnitee would not be permitted to be indemnified under applicable law shall not be binding and Indemnitee shall not be required to reimburse the Company for any Expense Advance until a final judicial determination is made with respect thereto (as to which all rights of appeal there from therefrom have been exhausted or have lapsed). Indemnitee's ’s obligation to reimburse the Company for Expense Advances shall be unsecured and no interest shall be charged thereon.

Appears in 2 contracts

Samples: Indemnification Agreement (MATECH Corp.), Indemnification Agreement (Material Technologies Inc /Ca/)

Expense Advances. If so requested by Indemnitee, the Company Corporation shall advance (within ten business days of such request) any and all Expenses to Indemnitee (an "Expense Advance"); proved provided that, if and an to the extent that the Reviewing Party determines that Indemnitee would not be permitted to be so indemnified under applicable law, the Company Corporation shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse the CompanyCorporation) for all such amounts theretofore paid. If Indemnitee has commenced legal proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be indemnified under applicable law, as provided in Section 45, any determination made by the Reviewing Party that Indemnitee would not be permitted to be indemnified under applicable law shall not be binding and Indemnitee shall not be required to reimburse the Company Corporation for any Expense Advance until a final judicial determination is made with respect thereto (as to which all rights of appeal there from therefrom have been exhausted or have lapsed). Indemnitee's ’s obligation to reimburse the Company Corporation for Expense Advances shall be unsecured and no interest shall be charged thereon.

Appears in 1 contract

Samples: Indemnification Agreement (Monmouth Real Estate Investment Corp)

Expense Advances. If so requested by Indemnitee, the Company Corporation shall advance (within ten business days of such request) any and , advance all Expenses to Indemnitee (an "Expense Advance"); proved that. Notwithstanding the foregoing, if and to the extent that the Reviewing Party determines that Indemnitee would not be permitted to be so indemnified under applicable law, the Company Corporation shall be entitled to be reimbursed by Indemnitee (who for all such amounts, and Indemnitee hereby agrees to reimburse the Company) Corporation promptly for all such amounts theretofore paidthe same. If Indemnitee has commenced legal proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be indemnified under applicable law, law as provided in Section paragraph 4, any determination made by the Reviewing Party that Indemnitee would not be permitted to be indemnified under applicable law shall not be binding binding, and Indemnitee shall not be required to reimburse the Company Corporation for any Expense Advance expense advance until a final judicial determination is made with respect thereto (as to which all rights of appeal there from have been exhausted or have lapsed). Indemnitee's obligation to reimburse the Company Corporation for Expense Advances expense advances shall be unsecured and no interest shall be charged thereon.

Appears in 1 contract

Samples: Indemnification Agreement (Parent Holding Corp)