Common use of Settlement of Derivative Actions Clause in Contracts

Settlement of Derivative Actions. Notwithstanding Paragraph 4(a), the court in which such Derivative Action was brought may determine upon application of Indemnitee that, in view of all circumstances of the case, indemnity for amounts paid in settlement is proper and may order indemnity for the amounts so paid in settlement and for the Expenses actually and reasonably paid in connection with such application, to the extent the court deems proper.

Appears in 10 contracts

Sources: Indemnification Agreement (Insight Enterprises Inc), Indemnification Agreement (Duraswitch Industries Inc), Indemnification & Liability (Employee Solutions Inc)

Settlement of Derivative Actions. Notwithstanding Paragraph 4(a3(a), the court in which such Derivative Action was brought may determine upon application of Indemnitee that, in view of all circumstances of the case, indemnity for amounts paid in settlement is proper and may order indemnity for the amounts so paid in settlement and for the Expenses actually and reasonably paid in connection with such application, to the extent the court deems proper.

Appears in 1 contract

Sources: Indemnification Agreement (Unison Healthcare Corp)