Common use of Indemnification of Manager Clause in Contracts

Indemnification of Manager. Except as limited by applicable law, the LLC shall indemnify the Manager for any and all expenses, losses, liabilities and damages the Manager actually and reasonably incurs in connection with the defense or settlement of any action arising out of or relating to the conduct of the LLC’s activities, except an action with respect to which the Manager is finally adjudged to be liable for breach of a fiduciary duty owed to the LLC or the Members under the Act or this Agreement. The LLC shall advance the costs and expenses of defending actions against the Manager arising out of or relating to the management of the LLC, provided that the LLC first receives the written undertaking of the Manager to reimburse the LLC if ultimately the Manager is finally judicially determined not to be entitled to indemnification hereunder.

Indemnification of Manager. Except as limited by applicable law, the LLC shall indemnify the Manager for any and all expenses, losses, liabilities and damages the Manager actually and reasonably incurs in connection with the defense or settlement of any action arising out of or relating to the conduct of the LLC’s activities, except an action with respect to which the Manager is finally adjudged to be liable for breach of a fiduciary duty owed to the LLC or the Members under the Act or this Agreement. The LLC shall advance the costs and expenses of defending actions against the Manager arising out of or relating to the management of the LLC, provided that the LLC it first receives the written undertaking of the Manager to reimburse the LLC if ultimately the Manager is finally judicially determined found not to be entitled to indemnification hereunderindemnification.

Indemnification of Manager. Except as limited by applicable law, the LLC shall indemnify the Manager for any and all expenses, losses, liabilities and damages the Manager actually and reasonably incurs in connection with the defense or settlement of any action arising out of or relating to the conduct of the LLC’s 's activities, except an action with respect to which the Manager is finally adjudged to be liable for breach of a fiduciary duty owed to the LLC or the Members under the Act or this Agreement. The LLC shall advance the costs and expenses of defending actions against the Manager arising out of or relating to the management of the LLC, provided that the LLC it first receives the written undertaking of the Manager to reimburse the LLC if ultimately the Manager is finally judicially determined found not to be entitled to indemnification hereunderindemnification.