Common use of Procedure to obtain indemnification Clause in Contracts

Procedure to obtain indemnification. In order to obtain indemnification in accordance with this Article 10, a claimant must submit to the company a request in writing including all documentation and information available and necessary to determine if the claimant has the right, and up to what point, to receive indemnification. Based on the claimant’s written request for indemnification, in accordance with the first sentence in this section 10.3, a decision with respect to the claimant’s right to receive such indemnification, if required by the applicable law, will be taken as follows: (a) if requested by the claimant or if there are no uninterested Directors (as defined below) or (b) if it is requested by a majority vote of the uninterested Directors, although a quorum is not reached, or by a majority vote of a uninterested Directors committee designated by a majority vote of uninterested Directors, although a quorum is not reached. If it is determined that the claimant has the right to receive indemnification, payment will be made within ten days following such determination. 10.04