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
Form of Indemnity Agreement by Financial Corporation of Santa Barbara
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US-CC-17-104M
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Description Indemnity Agreement Financial Statement
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FAQ
Indemnity is compensation paid by one party to another to cover damages, injury or losses.An example of an indemnity would be an insurance contract, where the insurer agrees to compensate for any damages that the entity protected by the insurer experiences.
An indemnity is generally some form of notice that is in writing and excludes the liability on the part of the person or company presenting such a notice. An indemnity form also limits the person's contractual and delictual liability.
A typical example is an insurance company wherein the insurer or indemnitor agrees to compensate the insured or indemnitee for any damages or losses he/she may incur during a period of time.
Definition: Indemnity means making compensation payments to one party by the other for the loss occurred. Description: Indemnity is based on a mutual contract between two parties (one insured and the other insurer) where one promises the other to compensate for the loss against payment of premiums.
An indemnity agreement is a contract that 'holds a business or company harmless' for any burden, loss, or damage. An indemnity agreement also ensures proper compensation is available for such loss or damage.
Indemnity is a comprehensive form of insurance compensation for damages or loss.Indemnity is a contractual agreement between two parties. In this arrangement, one party agrees to pay for potential losses or damages caused by another party.
An indemnity is a promise by one party to compensate another for the loss suffered as a consequence of a specific event, called the 'trigger event'. The trigger event can be anything defined by the parties, including: a breach of contract. a party's fault or negligence. a specific action.
When the term indemnity is used in the legal sense, it may also refer to an exemption from liability for damages. Indemnity is a contractual agreement between two parties. In this arrangement, one party agrees to pay for potential losses or damages caused by another party.