If you have to complete, obtain, or print legitimate papers layouts, use US Legal Forms, the biggest collection of legitimate types, which can be found online. Utilize the site`s simple and hassle-free search to find the papers you require. Different layouts for enterprise and individual reasons are sorted by classes and suggests, or keywords. Use US Legal Forms to find the Puerto Rico Indemnity Agreement between Centra Software, Inc. and officer of corporation within a handful of clicks.
Should you be previously a US Legal Forms consumer, log in for your bank account and click the Obtain key to obtain the Puerto Rico Indemnity Agreement between Centra Software, Inc. and officer of corporation. You can also gain access to types you formerly delivered electronically from the My Forms tab of your bank account.
If you are using US Legal Forms the first time, follow the instructions listed below:
Every legitimate papers web template you purchase is your own permanently. You have acces to each kind you delivered electronically within your acccount. Click on the My Forms area and decide on a kind to print or obtain yet again.
Contend and obtain, and print the Puerto Rico Indemnity Agreement between Centra Software, Inc. and officer of corporation with US Legal Forms. There are thousands of skilled and condition-specific types you can utilize for the enterprise or individual requirements.
The word indemnity means security or protection against a financial liability. It typically occurs in the form of a contractual agreement made between parties in which one party agrees to pay for losses or damages suffered by the other party.
Indemnification is a legal agreement by one party to hold another party blameless ? not liable ? for potential losses or damages. It is similar to a liability waiver but is usually more specific, applicable only to particular items, circumstances, or situations, or in regard to a particular contract.
Indemnification clauses or provisions are extremely strong agreements because one party renounces their legal privilege to sue another party. Most indemnification clauses will only apply one way- that is, only one party gives up their freedom to sue the other.
Indemnification, 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.
Insurance ? The indemnification agreement typically will require that the company provide D&O liability insurance that protects the indemnitee to the same extent as the most favorably insured of the company's and its affiliates' current directors and officers.
Indemnification refers to the right to have a company reimburse current or former directors or officers for all losses, including legal fees, incurred in connection with litigation arising from actions taken in service to the company or at the company's direction.
This clause is often used when one party is at a greater risk of loss and wants to protect itself. For example, a manufacturer may include a one-sided indemnification clause in a contract with a distributor to protect itself from any losses resulting from the distributor's actions.
Under a typical indemnification provision, the employer agrees to indemnify the executive against lawsuits, claims, or demands against the employee resulting from the employee's good faith performance of his or her duties and obligations.
A company may, however, lend money to a director to fund the director's defence costs. Frequently, an indemnity will include a provision under which the company agrees to lend the director the amounts necessary to fund the director's defence costs.
The indemnity may cover liability incurred by the director to any person other than the company or an associated company. This may include both legal costs and the financial costs of an adverse judgement. But the indemnity must not cover liabilities to the company or to any associated company (subsection (2)).