Mecklenburg North Carolina Form of Indemnity Agreement by Financial Corporation of Santa Barbara

• Category: Corporations - Public - Indemnification
• State: Multi-State
• County: Mecklenburg
• 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 Mecklenburg County is a county located in the state of North Carolina, USA. It is the most populous county in the state and is home to the city of Charlotte, the state's largest city and financial hub. With a rich history and thriving economy, Mecklenburg County offers its residents a diverse range of opportunities, attractions, and amenities. The Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legal document that provides protection and assurance to the parties involved in a financial transaction. This agreement outlines the terms and conditions under which the financial corporation agrees to indemnify and hold harmless another party, typically a borrower or investor, against any potential losses or damages incurred. The Mecklenburg North Carolina Form of Indemnity Agreement by Financial Corporation of Santa Barbara is specifically tailored to transactions that take place within Mecklenburg County. This agreement ensures that individuals and businesses operating within the county have a comprehensive and reliable protection mechanism in place when engaging in financial activities. Some key elements typically included in this type of agreement may encompass: 1. Identification of the parties involved: The agreement will clearly state the names and contact information of both the financial corporation and the party being indemnified. 2. Scope of indemnification: The agreement will outline the specific risks or liabilities for which the financial corporation agrees to provide indemnification coverage. This may include losses arising from breach of contract, negligence, or any other specified circumstances. 3. Limits of indemnification: The agreement may establish certain limits on the financial responsibility of the corporation, specifying a maximum amount or capping the indemnification coverage based on predetermined factors. 4. Duration of the agreement: The agreement will state the duration for which the indemnification remains in effect, which may be for the duration of a specific transaction or a specified period of time. 5. Governing law and jurisdiction: As the agreement is specific to Mecklenburg County, it will reference the laws and regulations of North Carolina that govern the interpretation and enforcement of the agreement. It's important to note that while the Form of Indemnity Agreement by Financial Corporation of Santa Barbara may be commonly used in Mecklenburg County, there may be variations or customized forms of the agreement tailored to specific types of financial transactions or industries. In summary, the Mecklenburg North Carolina Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legally binding document that provides protection and reassurance to parties involved in financial transactions within Mecklenburg County. It ensures that individuals and businesses have an established mechanism to mitigate potential losses and liabilities, offering peace of mind and security in their financial dealings.

Mecklenburg County is a county located in the state of North Carolina, USA. It is the most populous county in the state and is home to the city of Charlotte, the state's largest city and financial hub. With a rich history and thriving economy, Mecklenburg County offers its residents a diverse range of opportunities, attractions, and amenities. The Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legal document that provides protection and assurance to the parties involved in a financial transaction. This agreement outlines the terms and conditions under which the financial corporation agrees to indemnify and hold harmless another party, typically a borrower or investor, against any potential losses or damages incurred. The Mecklenburg North Carolina Form of Indemnity Agreement by Financial Corporation of Santa Barbara is specifically tailored to transactions that take place within Mecklenburg County. This agreement ensures that individuals and businesses operating within the county have a comprehensive and reliable protection mechanism in place when engaging in financial activities. Some key elements typically included in this type of agreement may encompass: 1. Identification of the parties involved: The agreement will clearly state the names and contact information of both the financial corporation and the party being indemnified. 2. Scope of indemnification: The agreement will outline the specific risks or liabilities for which the financial corporation agrees to provide indemnification coverage. This may include losses arising from breach of contract, negligence, or any other specified circumstances. 3. Limits of indemnification: The agreement may establish certain limits on the financial responsibility of the corporation, specifying a maximum amount or capping the indemnification coverage based on predetermined factors. 4. Duration of the agreement: The agreement will state the duration for which the indemnification remains in effect, which may be for the duration of a specific transaction or a specified period of time. 5. Governing law and jurisdiction: As the agreement is specific to Mecklenburg County, it will reference the laws and regulations of North Carolina that govern the interpretation and enforcement of the agreement. It's important to note that while the Form of Indemnity Agreement by Financial Corporation of Santa Barbara may be commonly used in Mecklenburg County, there may be variations or customized forms of the agreement tailored to specific types of financial transactions or industries. In summary, the Mecklenburg North Carolina Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legally binding document that provides protection and reassurance to parties involved in financial transactions within Mecklenburg County. It ensures that individuals and businesses have an established mechanism to mitigate potential losses and liabilities, offering peace of mind and security in their financial dealings.