Common use of Notification of Indemnifiable Claim Clause in Contracts

Notification of Indemnifiable Claim. Director shall, as a condition precedent to his right to be indemnified under this Agreement, give the Company notice in writing as soon as practicable of any claim made against Director for which indemnification will or could be sought under this Agreement. Director agrees promptly to notify the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which will or could be subject to indemnification or payment of Expenses covered hereunder. The Secretary of the Company shall, promptly upon receipt of such notice, advise the Board in writing of such notice. The failure of Director to timely notify the Company shall not relieve the Company of any obligation which it may have to the Director under this Agreement or otherwise, unless such failure to provide timely notice materially prejudices the Company. The omission to notify the Company will not relieve the Company from any liability for indemnification which it may have to Director otherwise than under this Agreement.