Common use of Application for Enforcement Clause in Contracts

Application for Enforcement. In the event the Company fails to make timely payments as set forth herein, Advisor shall have the right to apply to any court of competent jurisdiction for the purpose of enforcing Advisor’s right to indemnification or advancement of expenses pursuant to this Agreement. In such an enforcement hearing or proceeding, the burden of proof shall be on the Company to prove that indemnification or advancement of expenses to Advisor is not required under this Agreement or permitted by applicable law. Any determination by the Company (including its Board of Directors, shareholders or independent counsel) that Advisor is not entitled to indemnification hereunder, shall not be a defense by the Company to the action nor create any presumption that Advisor is not entitled to indemnification or advancement of expenses hereunder.