Common use of Timing of Indemnification Payments Clause in Contracts

Timing of Indemnification Payments. The indemnification required by this Article VI shall be made (i) by periodic payments of the amount thereof during the course of the investigation or defense, as and when bills are received or expenses are incurred, and (ii) upon determination of liability by a court of competent jurisdiction whether or not such judgment is appealed, with respect to loss, damage or liability; provided, however, that, upon a final judgment not subject to appeal, to the effect that such indemnification is without merit or is otherwise not required to be paid by the Company, then the periodic payments made by the Company pursuant to this Section 6.6 shall be promptly refunded within thirty (30) days of notice of such final judgment.

Timing of Indemnification Payments. The indemnification required by this Article VI shall be made (i) by periodic payments of the amount thereof during the course of the investigation or defense, as and when bills are received or expenses are incurred, and (ii) upon determination of liability by a court of competent jurisdiction whether or not such judgment is appealed, with respect to loss, damage or liability; provided, however, provided however that, upon a final judgment not subject to appeal, to the effect that such indemnification is without merit or is otherwise not required to be paid by the Company, then the periodic payments made by the Company pursuant to this Section 6.6 shall be promptly refunded within thirty (30) days of notice of such final judgment.