Common use of Determination That Indemnification Is Proper Clause in Contracts

Determination That Indemnification Is Proper. Any indemnification under Section 11.4(a) hereof (unless ordered by a court) shall be made by the Company unless a determination is made that indemnification of the director, officer, employee or agent is not proper in the circumstances because he has not met the applicable standard of conduct set forth in Section 11.4(a) hereof. Any such determination shall be made (1) by a majority vote of the Directors who are not parties to such action, suit or proceeding, even though less than a quorum, or (2) if there are no such Directors, or, if such Directors so direct, by independent legal counsel in a written opinion, or (3) by Members holding at least 66 2/3% of the LLC Unit▇.

Determination That Indemnification Is Proper. Any indemnification under Section 11.4(a) hereof (unless ordered by a court) shall be made by the Company unless a determination is made that indemnification of the director, officer, employee or agent is not proper in the circumstances because he has not met the applicable standard of conduct set forth in Section 11.4(a) hereof. Any such determination shall be made (1) by a majority vote of the Directors who are not parties to such action, suit or proceeding, even though less than a quorum, or (2) if there are no such Directors, or, if such Directors so direct, by independent legal counsel in a written opinion, or (3) by Members holding at least 66 2/3% of the LLC Unit▇Units.