What is a standard indemnification clause?

Indemnification clauses are clauses in contracts that set out to protect one party from liability if a third-party or third entity is harmed in any way. It's a clause that contractually obligates one party to compensate another party for losses or damages that have occurred or could occur in the future.

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Indemnification Agreement for a Trust

Palm Beach Florida Indemnification Agreement for a Trust

Name: Palm Beach Florida Indemnification Agreement for a Trust
Brand: US Legal Forms
Rating: 4.61 (479 reviews)

Category:

Trusts - Indemnification

State:

Multi-State

County:

Palm Beach

Control #:

US-0777-WG

Format:

Instant download

Description

Indemnitors covenant and agree to defend, indemnify and hold harmless, absolutely and unconditionally, the indemnitee from and against any and all damages, losses, claims, demands, actions, causes of actions, costs, expenses, liabilities and obligations of any kind whatsoever, including, but not limited to, attorney's fees in a certain matter.

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FAQ

Party A shall indemnify, defend and hold harmless Party B against any and all loss arising out of, by reason of, in connection with or as a result of third-party claims in connection with intellectual property that is the subject matter of license under this agreement.

Indemnification clauses are clauses in contracts that set out to protect one party from liability if a third-party or third entity is harmed in any way. It's a clause that contractually obligates one party to compensate another party for losses or damages that have occurred or could occur in the future.

Company/Business/Individual Name shall fully indemnify, hold harmless and defend and its directors, officers, employees, agents, stockholders and Affiliates from and against all claims, demands, actions, suits, damages, liabilities, losses, settlements, judgments, costs and expenses (including but not

Indemnity/indemnification: A trustee is entitled to reasonable compensation for her services. The amount payable can either come from the trust agreement itself or be fixed by the court (taking into account the trustee's skill level and actual duties performed) or state statute.

To indemnify means to compensate someone for his/her harm or loss. In most contracts, an indemnification clause serves to compensate a party for harm or loss arising in connection with the other party's actions or failure to act. The intent is to shift liability away from one party, and on to the indemnifying party.

An indemnification clause may allow: The indemnified party to recover certain types of losses, such as attorney's fees, which are not typically recoverable under a common law cause of action. The indemnifying party to reduce its liability by incorporating: Liability cap. Materiality qualifiers. Liability basket.

"Each party agrees to indemnify, defend, and hold harmless the other party from and against any loss, cost, or damage of any kind (including reasonable outside attorneys' fees) to the extent arising out of its breach of this Agreement, and/or its negligence or willful misconduct."

Indemnity/indemnification: The amount payable can either come from the trust agreement itself or be fixed by the court (taking into account the trustee's skill level and actual duties performed) or state statute.

In most cases, what makes a trust invalid is a problem with its creation. For instance, a trust might be legally considered invalid if it: Was created through intimidation or force. Was created by a person of unsound mind.

Indemnification provisions are generally enforceable. There are certain exceptions however. Indemnifications that require a party to indemnify another party for any claim irrespective of fault ('broad form' or 'no fault' indemnities) generally have been found to violate public policy.

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The restrictions are mandatory and may not be relaxed in the trust instrument. How can I search for a document in the Official Record Books of Palm Beach County?Please fill out the Fillable PDF form below. 503, Palm Beach, FL 33480, and our telephone number is (561) 318-3766. An often litigated, and often overlooked or non-negotiable, provision of construction contracts is the indemnification clause. Are There Any Tax Advantages of a Living Trust? Complete the execution copy of the subscription agreement. The Company is in the process of negotiating forbearance agreements with its lenders.

Palm Beach Florida Indemnification Agreement for a Trust

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How do you draft a good indemnity clause?

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Can a trust indemnify?

What makes a trust void?

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