The Nevada Indemnification Agreement is a legally binding contract entered into between Financial Security Assurance (FSA), ABCs, and American Business Credit. This agreement aims to outline the terms and conditions governing indemnification rights and obligations of the parties involved in various financial transactions within the state of Nevada. Keywords: Nevada Indemnification Agreement, Financial Security Assurance, ABCs, American Business Credit, indemnification rights, indemnification obligations, financial transactions. There may be different types or variations of the Nevada Indemnification Agreement among Financial Security Assurance, ABCs, and American Business Credit based on the specific nature of the transaction or agreement between the parties. These variations may include: 1. Nevada Indemnification Agreement for Loan or Credit Facilities: This type of agreement focuses on indemnification clauses related to loans or credit provided by Financial Security Assurance, ABCs, or American Business Credit. It may outline the terms of indemnifying each party from potential financial losses arising out of the loan agreement. 2. Nevada Indemnification Agreement for Mergers and Acquisitions: This type of agreement primarily focuses on indemnification provisions related to mergers, acquisitions, or business transactions between the parties involved. It may delineate the indemnification obligations of Financial Security Assurance, ABCs, and American Business Credit in case of any financial or legal risks arising from these transactions. 3. Nevada Indemnification Agreement for Securities Offerings: In situations where one of the parties is involved in offering securities (such as stocks or bonds), this agreement may address the indemnification provisions related to such offerings. It may specify the indemnification rights and responsibilities of each party in case of any legal claims or losses arising due to the securities offering. 4. Nevada Indemnification Agreement for Guarantees and Sureties: This type of agreement may focus on indemnifying one party against potential losses resulting from guarantees or sureties provided by the other parties. It may outline the scope of indemnification, the circumstances under which it will be applicable, and the potential limitations or exclusions that may apply. In summary, the Nevada Indemnification Agreement among Financial Security Assurance, ABCs, and American Business Credit serves as a comprehensive legal document that defines the indemnification rights and obligations of the parties involved in various financial transactions. The specific type of agreement may vary based on the nature of the transaction or agreement between the parties, such as loans, mergers and acquisitions, securities offerings, or guarantees and sureties.
Nevada Indemnification Agreement among Financial Security Assurance, ABFS and American Business Credit
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Hear this out loud PauseIndemnification, also referred to as indemnity, is an undertaking by one party (the indemnifying party) to compensate the other party (the indemnified party) for certain costs and expenses, typically stemming from third-party claims.
An indemnification clause is a legally binding agreement between two parties specifying that one party (the indemnifying party) will compensate the other party (the indemnified party) for any losses or damages that may arise from a particular event or circumstance.
Hear this out loud PauseThis form of a Release Agreement, Indemnity Agreement and Hold Harmless Agreement releases a party from certain specified liabilities. Releases are used to transfer risk from one party to another and protect against the released party or reimburse the released party for damage, injury, or loss.
The main difference in this case is that ?hold harmless? may require a party to protect against actual losses as well as potential losses while indemnification protects against actual losses only. Certain states, including Ohio, Colorado, Louisiana and Delaware, hold that ?indemnify? and ?hold harmless? are synonymous.
Hear this out loud PauseTo indemnify, also known as indemnity or indemnification, means compensating a person for damages or losses they have incurred or will incur related to a specified accident, incident, or event.
Hear this out loud PauseRESOLVED, that the Corporation indemnify and hold harmless INDIVIDUAL/BUSINESS and its successors and assigns from any and all liability arising from CAUSE OF LIABILITY. Said indemnification being upon such terms as are contained in an indemnification agreement annexed hereto.