Virginia 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 The Virginia Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legally binding contract that establishes the terms and conditions under which the financial corporation will indemnify or protect individuals or entities against certain liabilities. This agreement is specific to the state of Virginia and is drafted by Financial Corporation of Santa Barbara, a renowned financial institution. The Virginia Form of Indemnity Agreement by Financial Corporation of Santa Barbara serves as a safeguard for parties involved in various business transactions, providing assurance that the financial corporation will assume responsibility for any potential losses, damages, expenses, or legal costs incurred as a result of a specified event or action. Some important keywords that are relevant to the Virginia Form of Indemnity Agreement include: 1. Virginia: This highlights that the agreement is designed to comply with the laws and regulations specific to the state of Virginia, ensuring its validity and enforceability within the jurisdiction. 2. Form of Indemnity Agreement: This emphasizes that the document is a standardized template created by the Financial Corporation of Santa Barbara, which can be customized to suit the specific needs of the parties involved. 3. Financial Corporation of Santa Barbara: This is the entity responsible for drafting the agreement. It signifies their reputation and expertise in handling financial matters, instilling confidence in the parties entering into the agreement. 4. Indemnification: This refers to the act of providing financial protection or compensation to another party for specified losses or damages incurred. It is a central concept within the agreement. 5. Liabilities: This encompasses any legal responsibilities or obligations that may arise from a particular event or action. The agreement specifies the scope of liabilities that the financial corporation agrees to indemnify. When it comes to different types of Virginia Form of Indemnity Agreements by Financial Corporation of Santa Barbara, there may not be significant variations in the overall structure or purpose. However, slight modifications may be made to tailor the agreement to specific industries, such as banking, real estate, or insurance. Additionally, the agreement may differentiate between individual indemnities and corporate indemnities, depending on the parties involved. It is essential to carefully review and understand the specific terms and conditions outlined in the Virginia Form of Indemnity Agreement by Financial Corporation of Santa Barbara before entering into any legal agreements. Seeking legal counsel or advice is highly recommended ensuring that the agreement aligns with the unique requirements and objectives of all parties involved.

The Virginia Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legally binding contract that establishes the terms and conditions under which the financial corporation will indemnify or protect individuals or entities against certain liabilities. This agreement is specific to the state of Virginia and is drafted by Financial Corporation of Santa Barbara, a renowned financial institution. The Virginia Form of Indemnity Agreement by Financial Corporation of Santa Barbara serves as a safeguard for parties involved in various business transactions, providing assurance that the financial corporation will assume responsibility for any potential losses, damages, expenses, or legal costs incurred as a result of a specified event or action. Some important keywords that are relevant to the Virginia Form of Indemnity Agreement include: 1. Virginia: This highlights that the agreement is designed to comply with the laws and regulations specific to the state of Virginia, ensuring its validity and enforceability within the jurisdiction. 2. Form of Indemnity Agreement: This emphasizes that the document is a standardized template created by the Financial Corporation of Santa Barbara, which can be customized to suit the specific needs of the parties involved. 3. Financial Corporation of Santa Barbara: This is the entity responsible for drafting the agreement. It signifies their reputation and expertise in handling financial matters, instilling confidence in the parties entering into the agreement. 4. Indemnification: This refers to the act of providing financial protection or compensation to another party for specified losses or damages incurred. It is a central concept within the agreement. 5. Liabilities: This encompasses any legal responsibilities or obligations that may arise from a particular event or action. The agreement specifies the scope of liabilities that the financial corporation agrees to indemnify. When it comes to different types of Virginia Form of Indemnity Agreements by Financial Corporation of Santa Barbara, there may not be significant variations in the overall structure or purpose. However, slight modifications may be made to tailor the agreement to specific industries, such as banking, real estate, or insurance. Additionally, the agreement may differentiate between individual indemnities and corporate indemnities, depending on the parties involved. It is essential to carefully review and understand the specific terms and conditions outlined in the Virginia Form of Indemnity Agreement by Financial Corporation of Santa Barbara before entering into any legal agreements. Seeking legal counsel or advice is highly recommended ensuring that the agreement aligns with the unique requirements and objectives of all parties involved.