Common use of Reimbursement of Executive’s Enforcement Expenses Clause in Contracts

Reimbursement of Executive’s Enforcement Expenses. If any contest or dispute shall arise under this Agreement involving the alleged failure or refusal of the Bank or any of its Affiliates to perform fully in accordance with the terms hereof, the Bank shall reimburse the Executive for all reasonable legal fees and expenses, if any, incurred by the Executive with respect to such contest or dispute, together with interest in an amount equal to the Wall Street Journal prime rate from time to time in effect (but in no event higher than the legal rate permissible under applicable law), such interest to accrue from the date the Bank becomes obligated to pay such fees and expenses through the date of payment thereof; provided, however, that this Section 8.04 shall apply only if (and to the extent that) the Bank is held to have breached or violated its duties and obligations hereunder to the Executive.

Reimbursement of Executive’s Enforcement Expenses. If any contest or dispute shall arise under this Agreement involving the alleged failure or refusal of the Bank or any of its Affiliates to perform fully in accordance with the terms hereof, the Bank shall reimburse the Executive for all reasonable legal fees and expenses, if any, incurred by the Executive with respect to such contest or dispute, together with interest in an amount equal to the Wall Street Journal prime rate from time to time in effect (but in no event higher than the legal rate permissible under applicable law), such interest to accrue from the date the Bank becomes obligated to pay such fees and expenses through the date of payment thereof; provided, however, that this Section 8.04 7.04 shall apply only if (and to the extent that) the Bank is held by a court of competent jurisdiction to have breached or violated its duties and obligations hereunder to the Executive.