Common use of Procedure for Advance Payment of Expenses Clause in Contracts

Procedure for Advance Payment of Expenses. The Indemnitee shall submit to the Company a written request specifying in reasonable detail the Indemnifiable Expenses for which the Indemnitee seeks an advancement under Section 8 hereof, together with documentation reasonably evidencing that the Indemnitee has incurred such Indemnifiable Expenses. For purposes of any advancement of Indemnifiable Expenses hereunder, all Indemnifiable Expenses included in such written request are presumed to be reasonable; provided however, the Company shall have the right to challenge such reasonableness but shall have the burden of establishing that such Indemnifiable Expenses are not reasonable. Payment of Indemnifiable Expenses under Section 8 hereof shall be made no later than thirty (30) calendar days after the Company’s receipt of such request. Without limiting the generality or effect of the foregoing, within thirty days after any request by Indemnitee, the Company shall, in accordance with such request (but without duplication), (a) pay such Expenses on behalf of Indemnitee, (b) advance to Indemnitee funds in an amount sufficient to pay such Expenses, or (c) reimburse Indemnitee for such Expenses.