Common use of Payment of Indemnified Amount Clause in Contracts

Payment of Indemnified Amount. Immediately following a Determination that the Indemnitee has met the applicable requirements set forth in Sections 1, 2, 3 or 4 hereof, as the case may be, and the finding of reasonableness of expenses contemplated by Section 6.3 hereof, or the passage of time prescribed for making such determination(s), the Company shall pay to the Indemnitee in cash the amount to which the Indemnitee is entitled to be indemnified and/or reimbursed, as the case may be, without further authorization or action by the Board; provided, however, that the expenses for which indemnification or reimbursement is sought have actually been incurred by the Indemnitee.

Appears in 4 contracts

Samples: Indemnification Agreement (21st Century Holding Co), Indemnification Agreement (21st Century Holding Co), Indemnification Agreement (21st Century Holding Co)

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Payment of Indemnified Amount. Immediately following a Determination that the Indemnitee has met the applicable requirements set forth in Sections Section 1, 2, 2 or 3 or 4 hereof, as the case may be, and the finding of reasonableness of expenses Expenses contemplated by Section 6.3 4.1 hereof, or the passage of time prescribed for making such determination(sDetermination(s), the Company Corporation shall pay to the Indemnitee in cash the amount to which the Indemnitee is entitled to be indemnified and/or reimbursed, as the case may be, without further authorization or action by the Board; provided, however, that the expenses Expenses for which indemnification or reimbursement is sought have actually been incurred by the Indemnitee.

Appears in 3 contracts

Samples: Indemnification Agreement (CLS Holdings USA, Inc.), Indemnification Agreement (CLS Holdings USA, Inc.), Indemnification Agreement (CLS Holdings USA, Inc.)

Payment of Indemnified Amount. Immediately following a Determination that the Indemnitee has met the applicable requirements standard of conduct set forth in Sections Section 1, 2, 2 or 3 or 4 hereof, as the case may be, and the finding of reasonableness of expenses contemplated by Section 6.3 5.3 hereof, or the passage of time prescribed for making such determination(s), the Company shall pay to the Indemnitee in cash the amount to which the Indemnitee is entitled to be indemnified and/or reimbursed, as the case may be, without further authorization or action by the Board; provided, however, that the expenses for which indemnification or reimbursement is sought have actually been incurred by the Indemnitee.. 5.5

Appears in 1 contract

Samples: Form of Indemnification Agreement (Capital Bancorp/Fl)

Payment of Indemnified Amount. Immediately following a Determination that the Indemnitee has met the applicable requirements standard of conduct set forth in Sections 1, 2, 2 or 3 or 4 hereof, as the case may be, and the finding of reasonableness of expenses contemplated by Section 6.3 5.3 hereof, or the passage of time prescribed for making such determination(sDetermination(s), the Company shall pay to the Indemnitee in cash the amount to which the Indemnitee is entitled to be indemnified and/or reimbursed, as the case may be, without further authorization or action by the Board; provided, however, that the expenses for which indemnification or reimbursement is sought have actually been incurred by the Indemnitee.

Appears in 1 contract

Samples: Form of Indemnification Agreement (Empire Financial Holding Co)

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Payment of Indemnified Amount. Immediately following a Determination that the Indemnitee has met the applicable requirements set forth in Sections Section 1, 2, 3 or 4 hereof, as the case may be, and the finding of reasonableness of expenses contemplated by Section 6.3 hereof, or the passage of time prescribed for making such determination(s), the Company Corporation shall pay to the Indemnitee in cash the amount to which the Indemnitee is entitled to be indemnified and/or reimbursed, as the case may be, without further authorization or action by the Board; provided, however, that the expenses for which indemnification or reimbursement is sought have actually been incurred by the Indemnitee.

Appears in 1 contract

Samples: Indemnification Agreement (Netspeak Corp)

Payment of Indemnified Amount. Immediately following a Determination that the Indemnitee has met the applicable requirements standard of conduct set forth in Sections Section 1, 2, 2 or 3 or 4 hereof, as the case may be, and the finding of reasonableness of expenses contemplated by Section 6.3 5.3 hereof, or the passage of time prescribed for making such determination(s), the Company shall pay to the Indemnitee in cash the amount to which the Indemnitee is entitled to be indemnified and/or reimbursed, as the case may be, without further authorization or action by the Board; providedPROVIDED, howeverHOWEVER, that the expenses for which indemnification or reimbursement is sought have actually been incurred by the Indemnitee.

Appears in 1 contract

Samples: Indemnification Agreement (Connectsoft Communications Corp)

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