The Delaware Court of Chancery held that the phrase “payable as incurred” in an indemnification provision does not create advancement rights, emphasizing the need for clear contractual language to secure advancement protections.
| less than a minute read
Magic Words Required: The Court of Chancery Holds That the Phrase ‘Payable as Incurred’ Does Not Create Advancement Rights

/Passle/6880addbd954bf894713d5af/SearchServiceImages/2025-12-15-22-40-45-011-69408e6d944549e161414a36.jpg)
/Passle/6880addbd954bf894713d5af/SearchServiceImages/2025-12-12-22-38-18-789-693c995a2a1eb292d8c17811.jpg)
/Passle/6880addbd954bf894713d5af/SearchServiceImages/2025-12-12-22-36-49-824-693c9901f367c9b87b3d765c.jpg)
