Notification and Required Actions Clause Samples
The "Notification and Required Actions" clause establishes the obligation for parties to promptly inform each other about specific events or circumstances as outlined in the agreement. Typically, this clause details the method, timing, and content of notifications, and may specify the steps that must be taken once a notification is received, such as providing additional information or commencing remedial actions. Its core practical function is to ensure clear communication and timely responses between parties, thereby minimizing misunderstandings and enabling swift resolution of issues as they arise.
Notification and Required Actions. If any action, proceeding or investigation is commenced as to which Executive proposes to demand such indemnification, Executive shall notify the Company with reasonable promptness. Executive shall have the right to retain counsel of Executive’s own choice to represent Executive and the Company shall pay all reasonable fees and expenses of such counsel; and such counsel shall, to the fullest extent consistent with such counsel’s professional responsibilities, cooperate with the Company and any counsel designated by the Company. The Company shall be liable for any settlement of any claim against Executive made with the Company’s written consent, which consent shall not be unreasonably withheld or delayed, to the fullest extent permitted by the Nevada Revised Statutes and the Articles of Incorporation and Bylaws of the Company, as may be amended from time to time.
Notification and Required Actions. If any action, proceeding or investigation is commenced as to which Executive proposes to demand such indemnification, Executive shall notify the Company with reasonable promptness. Executive shall have the right to retain counsel of Executive’s own choice to represent Executive and the Company shall pay all reasonable fees and expenses of such counsel; and such counsel shall, to the fullest extent consistent with such counsel’s professional responsibilities, cooperate with the Company and any counsel designated by the Company. The Company shall be liable for any settlement of any claim against Executive made with the Company’s written consent, which consent shall not be unreasonably withheld or delayed, to the fullest extent permitted by the Texas Business Organizations Code and the Certificate of Formation and Bylaws of the Company, as may be amended from time to time. August 31, 2022 Executive Employment AgreementJonathan ArangoPage 12 of 18