Timing of the Determination. The Company shall use its best efforts to make the Determination contemplated by this Section 5 promptly, but in all events within the following time periods: i. if the Determination is to be made by the Board or a committee thereof, such Determination shall be made not later than 30 days after a written request for a Deermination (a "Request") is delivered to the Company by the Indemnitee; ii. if the Determination is to be made by the Company's outside independent legal counsel, such Determination shall be made not later than 30 days after a Request is delivered to the Company by the Indemnitee; and iii. if the Determination is to be made by the Company's shareholders, such Determination shall be made not later than 90 days after a Request is delivered to the Company by the Indemnitee. The failure to make a Determination within the above-specified time period shall constitute a Determination that full indemnification is not limited or prohibited by Section 3 hereof.
Appears in 2 contracts
Sources: Indemnity Agreement (Aviation Holdings Group Inc/Fl), Indemnification Agreement (Jet Aviation Trading Inc)
Timing of the Determination. The Company shall use its best efforts to make the Determination contemplated by this Section 5 promptly, but in all events within the following time periods:
i. if the Determination is to be made by the Board or a committee thereof, such Determination shall be made not later than 30 days after a written request for a Deermination Determination (a "Request") is delivered to the Company by the Indemnitee;
ii. if the Determination is to be made by the Company's outside independent legal counsel, such Determination shall be made not later than 30 60 days after a Request is delivered to the Company by the Indemnitee; and
iii. if the Determination is to be made by the Company's shareholders, such Determination shall be made not later than 90 days after a Request is delivered to the Company by the Indemnitee. The failure to make a Determination within the above-specified time period shall constitute a Determination that full indemnification is not limited or prohibited by Section 3 hereof.
Appears in 1 contract
Sources: Indemnification Agreement (Noven Pharmaceuticals Inc)
Timing of the Determination. The Company shall use its best efforts to make the Determination contemplated by this Section 5 promptly, but in all events within the following time periods:
i. (i) if the Determination is to be made by the Board or a committee thereof, such Determination shall be made not later than 30 days after a written request for a Deermination Determination (a "Request") is delivered to the Company by the Indemnitee;
; (ii. ) if the Determination is to be made by the Company's outside independent legal counsel, such Determination shall be made not later than 30 days after a Request is delivered to the Company by the Indemnitee; and
and (iii. ) if the Determination is to be made by the Company's shareholders, such Determination shall be made not later than 90 days after a Request is delivered to the Company by the Indemnitee. The failure to make a Determination within the above-specified time period shall constitute a Determination that full indemnification is not limited or prohibited by Section 3 hereof.
Appears in 1 contract
Timing of the Determination. The Company shall use its best efforts to make the Determination contemplated by this Section 5 promptly, but in all events within the following time periods:
i. if the Determination is to be made by the Board or a committee thereof, such Determination shall be made not later than 30 days after a written request for a Deermination Determination (a "Request") is delivered to the Company by the Indemnitee;
ii. if the Determination is to be made by the Company's outside independent legal counsel, such Determination shall be made not later than 30 days after a Request is delivered to the Company by the Indemnitee; and
iii. if the Determination is to be made by the Company's shareholders, such Determination shall be made not later than 90 days after a Request is delivered to the Company by the Indemnitee. The failure to make a Determination within the above-specified time period shall constitute a Determination that full indemnification is not limited or prohibited by Section 3 hereof.
Appears in 1 contract