This browser is not actively supported anymore. For the best passle experience, we strongly recommend you upgrade your browser.

Troutman Pepper Locke

| less than a minute read

Magic Words Required: The Court of Chancery Holds That the Phrase ‘Payable as Incurred’ Does Not Create Advancement Rights

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.