Common use of Member Notification Clause in Contracts

Member Notification. To the extent discretionary to the Company, the Board by Majority Consent shall approve or disapprove of indemnification or advancement of expenses under this Article VII. Any indemnification of or advance of expenses to any Person entitled or authorized to be indemnified under this Article VII shall be reported in writing to the Board with or before the notice or waiver of notice of the next Board meeting or with or before the next submission to the Board of a consent to action without a meeting and, in any case, within the twelve (12) month period immediately following the date the indemnification or advance was made.

Member Notification. To the extent discretionary to the Company, the Board by Majority Consent shall approve or disapprove of indemnification or advancement of expenses under this Article VIISection 2.3 and under Section 4.2. Any indemnification of or advance of expenses to any Person entitled or authorized to be indemnified under this Article VII 4 shall be reported in writing to the Board with or before the notice or waiver of notice of the next Board meeting or with or before the next submission to the Board of a consent to action without a meeting and, in any case, within the twelve (12) month period immediately following the date the indemnification or advance was made.