Undertaking to Repay. The Director hereby undertakes and agrees to repay to the Company any advances made pursuant to this SECTION 7 if it is ultimately determined by a court of competent jurisdiction that the Director is not entitled to be indemnified or reimbursed by the Company for such amounts.
Appears in 9 contracts
Sources: Preferred Stock Purchase Agreement (Texoil Inc /Nv/), Indemnification Agreement (Texoil Inc /Nv/), Indemnification Agreement (Texoil Inc /Nv/)
Undertaking to Repay. The Director hereby undertakes and agrees to repay to the Company any advances made pursuant to this SECTION Section 7 if it is shall ultimately be determined by a court of competent jurisdiction that the Director is not entitled to be indemnified or reimbursed by the Company for such amounts.
Appears in 4 contracts
Sources: Indemnification Agreement (Video Jukebox Network Inc), Indemnification Agreement (Video Jukebox Network Inc), Indemnification Agreement (Video Jukebox Network Inc)