Kentucky 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 Kentucky Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legally binding contract that outlines the terms and conditions under which the Financial Corporation agrees to indemnify and hold harmless the indemnity from any liabilities, losses, expenses, or damages incurred in the course of a specific transaction or business arrangement. This indemnity agreement is specifically designed to comply with the laws and regulations of the state of Kentucky. It provides a strong framework for protecting the indemnity against potential risks and claims that may arise from their involvement in the transaction. The Kentucky Form of Indemnity Agreement by Financial Corporation of Santa Barbara includes various key provisions: 1. Definitions: Clearly defines key terms used throughout the agreement, such as "indemnity," "claim," "liabilities," and "expenses." 2. Indemnification Scope: Outlines the scope of the Financial Corporation's indemnification obligations, which typically includes indemnification for any direct or indirect losses, damages, costs, or expenses resulting from the transaction. 3. Indemnity's Duties: Specifies the indemnity's duties and obligations, including providing prompt notice of any potential claims or losses and cooperating fully in any legal proceedings. 4. Limitations and Exclusions: May include certain limitations or exclusions to the Financial Corporation's indemnification obligations, such as claims resulting from the indemnity's negligence or willful misconduct. 5. Governing Law: States that the agreement is governed by the laws of the state of Kentucky, ensuring compliance with the local legal framework. It's important to note that there may be different variations or types of Kentucky Form of Indemnity Agreement by Financial Corporation of Santa Barbara, depending on the specific transaction or industry. For example, there could be separate agreements for real estate transactions, loan agreements, or M&A deals. In conclusion, the Kentucky Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a comprehensive legal document that provides protection and assurance to the indemnity in the state of Kentucky. It enables the Financial Corporation to indemnify the indemnity against potential losses or damages, helping to mitigate risks and ensure a smooth business transaction.

Kentucky Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legally binding contract that outlines the terms and conditions under which the Financial Corporation agrees to indemnify and hold harmless the indemnity from any liabilities, losses, expenses, or damages incurred in the course of a specific transaction or business arrangement. This indemnity agreement is specifically designed to comply with the laws and regulations of the state of Kentucky. It provides a strong framework for protecting the indemnity against potential risks and claims that may arise from their involvement in the transaction. The Kentucky Form of Indemnity Agreement by Financial Corporation of Santa Barbara includes various key provisions: 1. Definitions: Clearly defines key terms used throughout the agreement, such as "indemnity," "claim," "liabilities," and "expenses." 2. Indemnification Scope: Outlines the scope of the Financial Corporation's indemnification obligations, which typically includes indemnification for any direct or indirect losses, damages, costs, or expenses resulting from the transaction. 3. Indemnity's Duties: Specifies the indemnity's duties and obligations, including providing prompt notice of any potential claims or losses and cooperating fully in any legal proceedings. 4. Limitations and Exclusions: May include certain limitations or exclusions to the Financial Corporation's indemnification obligations, such as claims resulting from the indemnity's negligence or willful misconduct. 5. Governing Law: States that the agreement is governed by the laws of the state of Kentucky, ensuring compliance with the local legal framework. It's important to note that there may be different variations or types of Kentucky Form of Indemnity Agreement by Financial Corporation of Santa Barbara, depending on the specific transaction or industry. For example, there could be separate agreements for real estate transactions, loan agreements, or M&A deals. In conclusion, the Kentucky Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a comprehensive legal document that provides protection and assurance to the indemnity in the state of Kentucky. It enables the Financial Corporation to indemnify the indemnity against potential losses or damages, helping to mitigate risks and ensure a smooth business transaction.