Colorado Form of Indemnity Agreement by Financial Corporation of Santa Barbara

• Category: Corporations - Public - Indemnification
• State: Multi-State
• Control #: US-CC-17-104M
• Format: Word; Rich Text

Description

17-104M 17-104M . . . Indemnification Agreement authorizing (a) corporation to enter into Indemnity Agreements with each of its directors and officers and directors and officers of its first-tier subsidiaries and (b) establishment of Directors and Officers Indemnity Trust to (i) provide source of funds to secure corporation's obligations under Indemnity Agreements authorized under (a) above to directors and officers of corporation and its first-tier subsidiaries and (ii) advance expenses incurred by them in defense of actions, claims and proceedings against them relating to actions taken in their capacities as directors or officers The Colorado Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legally binding document that outlines the terms and conditions under which the Financial Corporation of Santa Barbara agrees to indemnify and hold harmless certain parties involved in a transaction or business relationship. This agreement is specifically tailored for use in the state of Colorado and complies with the applicable laws and regulations. Key terms and provisions in the Colorado Form of Indemnity Agreement include: 1. Parties involved: The agreement identifies the Financial Corporation of Santa Barbara as the indemnity and outlines the name and contact details of the indemnity, who is the party being indemnified. 2. Indemnification scope: The agreement defines the scope of indemnification, specifying the types of losses, damages, expenses, and liabilities that the Financial Corporation will indemnify the indemnity against. This may include legal fees, judgments, fines, and other costs arising out of the indemnity's involvement in a specific transaction or legal proceeding. 3. Limitations and exclusions: The agreement may include limitations or exclusions on the Financial Corporation's indemnification obligations. For example, certain losses or damages may be excluded if they result from the indemnity's willful misconduct or gross negligence. 4. Notice and defense: The agreement outlines the procedures for the indemnity to provide notice to the Financial Corporation in the event of a claim or potential claim that may trigger indemnification. It also specifies the Financial Corporation's right to assume control of the defense and settlement of any such claim. 5. Insurance requirements: The agreement may require the indemnity to maintain specified insurance coverage, such as liability insurance, and provide proof of such coverage to the Financial Corporation. Different types of Colorado Forms of Indemnity Agreement by Financial Corporation of Santa Barbara may exist depending on the specific context or purpose of the agreement. This could include variations for different industries, transactions, or businesses. For example, there might be specific forms tailored for real estate transactions, lending agreements, or corporate acquisitions. The types of agreements may be differentiated by their titles or by including specific clauses or provisions relevant to the particular context.

The Colorado Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legally binding document that outlines the terms and conditions under which the Financial Corporation of Santa Barbara agrees to indemnify and hold harmless certain parties involved in a transaction or business relationship. This agreement is specifically tailored for use in the state of Colorado and complies with the applicable laws and regulations. Key terms and provisions in the Colorado Form of Indemnity Agreement include: 1. Parties involved: The agreement identifies the Financial Corporation of Santa Barbara as the indemnity and outlines the name and contact details of the indemnity, who is the party being indemnified. 2. Indemnification scope: The agreement defines the scope of indemnification, specifying the types of losses, damages, expenses, and liabilities that the Financial Corporation will indemnify the indemnity against. This may include legal fees, judgments, fines, and other costs arising out of the indemnity's involvement in a specific transaction or legal proceeding. 3. Limitations and exclusions: The agreement may include limitations or exclusions on the Financial Corporation's indemnification obligations. For example, certain losses or damages may be excluded if they result from the indemnity's willful misconduct or gross negligence. 4. Notice and defense: The agreement outlines the procedures for the indemnity to provide notice to the Financial Corporation in the event of a claim or potential claim that may trigger indemnification. It also specifies the Financial Corporation's right to assume control of the defense and settlement of any such claim. 5. Insurance requirements: The agreement may require the indemnity to maintain specified insurance coverage, such as liability insurance, and provide proof of such coverage to the Financial Corporation. Different types of Colorado Forms of Indemnity Agreement by Financial Corporation of Santa Barbara may exist depending on the specific context or purpose of the agreement. This could include variations for different industries, transactions, or businesses. For example, there might be specific forms tailored for real estate transactions, lending agreements, or corporate acquisitions. The types of agreements may be differentiated by their titles or by including specific clauses or provisions relevant to the particular context.