Common use of Power to Indemnify in Actions, Suits Clause in Contracts

Power to Indemnify in Actions, Suits. or Proceedings by or in the Right of the Company. Subject to 14.3, the Company shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the Company to procure a judgment in its favor by reason of the fact that he is or was a director, officer, employee or agent of the Company, or is or was serving at the request of the Company as a manager, director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys' fees) actually and reasonably incurred by him in connection with the defense or settlement of such action or suit if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company; except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the Company unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (California Resources Corp), Limited Liability Company Agreement (California Resources Corp)

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Power to Indemnify in Actions, Suits. or Proceedings by or in the Right of the Company. Subject to 14.3Section 3.12(c), the Company shall indemnify any person Covered Person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the Company to procure a judgment in its favor by reason of the fact that he such Person is or was a directorCovered Person, officer, employee or agent of the Company, or is or was serving at the request of the Company as a manager, director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys' fees) actually and reasonably incurred by him such Covered Person in connection with the defense or settlement of such action or suit if he such Covered Person acted in good faith and in a manner he such Covered Person reasonably believed to be in or not opposed to the best interests of the Company; except that no indemnification shall be made in respect of any claim, issue or matter as to which such person Covered Person shall have been adjudged to be liable to the Company unless and only to the extent that the Court of Chancery of the State of Delaware or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person Covered Person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Phillips 66 Partners Lp), Limited Liability Company Agreement (Phillips 66 Partners Lp)

Power to Indemnify in Actions, Suits. or Proceedings by or in the Right of the CompanyLLC. Subject to 14.3, the Company LLC shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the Company LLC to procure a judgment in its favor by reason of the fact that he is or was a director, officer, employee or agent of the CompanyLLC, or is or was serving at the request of the Company LLC as a manager, director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys' fees) actually and reasonably incurred by him in connection with the defense or settlement of such action or suit if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the CompanyLLC; except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the Company LLC unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (California Resources Corp), Agreement of Limited Liability Company (California Resources Corp)

Power to Indemnify in Actions, Suits. or Proceedings by or in the Right of the Company. Subject to 14.3Section 3.14(c), the Company shall indemnify any person Covered Person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the Company to procure a judgment in its favor by reason of the fact that he such Person is or was a directorCovered Person, officer, employee or agent of the Company, or is or was serving at the request of the Company as a manager, director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys' fees) actually and reasonably incurred by him such Covered Person in connection with the defense or settlement of such action or suit if he such Covered Person acted in good faith and in a manner he such Covered Person reasonably believed to be in or not opposed to the best interests of the Company; except that no indemnification shall be made in respect of any claim, issue or matter as to which such person Covered Person shall have been adjudged to be liable to the Company unless and only to the extent that the Court of Chancery of the State of Delaware or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person Covered Person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Phillips 66)

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Power to Indemnify in Actions, Suits. or Proceedings by or in the Right of the CompanyCorporation. Subject to 14.3Section 7.3, the Company Corporation shall indemnify indemnify, to the fullest extent permitted by Delaware law as the same exists or may hereafter be amended, any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the Company Corporation to procure a judgment in its favor by reason of the fact that he such person is or was a director or officer of the Corporation, or, while a director or officer of the Corporation, is or was serving at the request of the Corporation as a director, officer, employee or agent of the Company, or is or was serving at the request of the Company as a manager, director, officer, employee or agent of another corporationCorporation, partnership, joint venture, trust trust, employee benefit plan or other enterprise against expenses (including attorneys' fees) actually and reasonably incurred by him such person in connection with the defense or settlement of such action or suit if he such person acted in good faith and in a manner he such person reasonably believed to be in or not opposed to the best interests of the CompanyCorporation; except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the Company Corporation unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Oaktree Acquisition Corp.)

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