Idaho Indemnification Agreement establishing Escrow Reserve

• Category: Corporations - Public - Indemnification
• State: Multi-State
• Control #: US-CC-17-217
• Format: Word; Rich Text

Description

17-217 17-217 . . . Indemnification Agreement providing that (i) in event of change in control, corporation shall establish Escrow Reserve of $2,000,000 as security for its obligations under Indemnification Agreement and (ii) in event of any liquidation, merger, consolidation or reorganization in which corporation is not surviving entity, or sale of all or substantially all of corporation's assets, corporation shall ensure that Indemnification Agreement is assumed by surviving entity or otherwise provide for satisfaction of its obligations thereunder An Idaho Indemnification Agreement establishing Escrow Reserve is a legally binding document that outlines the terms and conditions for indemnification and establishment of an escrow reserve account in the state of Idaho. This agreement is designed to provide protection to parties involved in a transaction, typically in the context of real estate transactions or mergers and acquisitions. Keywords: Idaho, Indemnification Agreement, Escrow Reserve, terms and conditions, protection, transaction, real estate, mergers and acquisitions. There can be different types of Idaho Indemnification Agreement establishing Escrow Reserve, depending on the specific context and parties involved. Some common types include: 1. Real Estate Indemnification Agreement: This type of agreement is used in real estate transactions to protect both the buyer and seller from potential claims or liabilities that may arise during or after the completion of the transaction. It establishes an escrow reserve account to provide financial protection in case any indemnification claims are necessary. 2. Mergers and Acquisitions Indemnification Agreement: In the context of mergers and acquisitions, parties may enter into an indemnification agreement to protect themselves against potential losses or claims that may arise from the transaction. An escrow reserve account is established to hold a portion of the purchase price, which can be used to cover any indemnification claims. 3. Employment Indemnification Agreement: This type of agreement is often used in employment contracts, where the employer agrees to indemnify and hold the employee harmless from any legal claims or liabilities that may arise during the course of employment. An escrow reserve account is established to provide financial security in case any indemnification claims are required. 4. Contractor Indemnification Agreement: Contractors often enter into indemnification agreements with their clients to protect themselves from any claims or damages that may arise as a result of their work. An escrow reserve account can be established to hold funds for potential indemnification claims. Overall, an Idaho Indemnification Agreement establishing Escrow Reserve plays a crucial role in providing protection and financial security to parties involved in various transactions in the state of Idaho. It helps to mitigate risks and ensure that any potential claims or liabilities can be addressed promptly and effectively.

An Idaho Indemnification Agreement establishing Escrow Reserve is a legally binding document that outlines the terms and conditions for indemnification and establishment of an escrow reserve account in the state of Idaho. This agreement is designed to provide protection to parties involved in a transaction, typically in the context of real estate transactions or mergers and acquisitions. Keywords: Idaho, Indemnification Agreement, Escrow Reserve, terms and conditions, protection, transaction, real estate, mergers and acquisitions. There can be different types of Idaho Indemnification Agreement establishing Escrow Reserve, depending on the specific context and parties involved. Some common types include: 1. Real Estate Indemnification Agreement: This type of agreement is used in real estate transactions to protect both the buyer and seller from potential claims or liabilities that may arise during or after the completion of the transaction. It establishes an escrow reserve account to provide financial protection in case any indemnification claims are necessary. 2. Mergers and Acquisitions Indemnification Agreement: In the context of mergers and acquisitions, parties may enter into an indemnification agreement to protect themselves against potential losses or claims that may arise from the transaction. An escrow reserve account is established to hold a portion of the purchase price, which can be used to cover any indemnification claims. 3. Employment Indemnification Agreement: This type of agreement is often used in employment contracts, where the employer agrees to indemnify and hold the employee harmless from any legal claims or liabilities that may arise during the course of employment. An escrow reserve account is established to provide financial security in case any indemnification claims are required. 4. Contractor Indemnification Agreement: Contractors often enter into indemnification agreements with their clients to protect themselves from any claims or damages that may arise as a result of their work. An escrow reserve account can be established to hold funds for potential indemnification claims. Overall, an Idaho Indemnification Agreement establishing Escrow Reserve plays a crucial role in providing protection and financial security to parties involved in various transactions in the state of Idaho. It helps to mitigate risks and ensure that any potential claims or liabilities can be addressed promptly and effectively.