Nassau New York Form of Indemnity Agreement by Financial Corporation of Santa Barbara

• Category: Corporations - Public - Indemnification
• State: Multi-State
• County: Nassau
• 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 Nassau New York Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legally binding contract designed to provide protection and reimbursement to a party, typically a shareholder or investor, for any losses or expenses incurred as a result of their involvement with Financial Corporation of Santa Barbara (FCS). This agreement is specific to Nassau County in the state of New York. As a crucial aspect of business dealings, an indemnity agreement ensures that parties entering into a financial relationship with FCS Bare safeguarded against potential risks and liabilities. This agreement outlines the terms and conditions under which FCS will provide indemnification, including the extent of coverage, claim procedures, and any limitations or exclusions. Some key provisions commonly found in the Nassau New York Form of Indemnity Agreement by Financial Corporation of Santa Barbara may include: 1. Scope of Indemnification: This section defines the circumstances under which FCS will indemnify the party, including claims arising from legal actions, obligations, or losses incurred in connection with FCS. 2. Covered Expenses: The agreement typically includes a comprehensive list of expenses that are eligible for indemnification. These might include attorney fees, court costs, judgments, settlements, or other reasonable costs related to legal proceedings. 3. Limitations on Indemnification: The contract may outline certain limitations on indemnification, such as those arising from intentional misconduct, fraud, or violations of laws or regulations. 4. Procedures for Claim Submission: This section explains the procedures that the indemnified party must follow in submitting a claim for reimbursement. It might include requirements like providing written notice within a specified timeframe and providing relevant supporting documentation. 5. Resolution of Disputes: The agreement may detail how any disputes related to the indemnification will be resolved. This may include methods such as arbitration or litigation. Different types or variations of the Nassau New York Form of Indemnity Agreement by Financial Corporation of Santa Barbara may exist based on factors like the specific terms negotiated between the parties or the particular industry involved. However, the overall purpose of such agreements remains consistent — to protect parties from financial loss and provide a sense of assurance and security when engaging in business with FCS in Nassau County, New York. Overall, the Nassau New York Form of Indemnity Agreement by Financial Corporation of Santa Barbara functions as a vital tool in risk management for parties involved in financial transactions with FCS, ensuring that they are adequately protected against potential liabilities and expenses.

The Nassau New York Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legally binding contract designed to provide protection and reimbursement to a party, typically a shareholder or investor, for any losses or expenses incurred as a result of their involvement with Financial Corporation of Santa Barbara (FCS). This agreement is specific to Nassau County in the state of New York. As a crucial aspect of business dealings, an indemnity agreement ensures that parties entering into a financial relationship with FCS Bare safeguarded against potential risks and liabilities. This agreement outlines the terms and conditions under which FCS will provide indemnification, including the extent of coverage, claim procedures, and any limitations or exclusions. Some key provisions commonly found in the Nassau New York Form of Indemnity Agreement by Financial Corporation of Santa Barbara may include: 1. Scope of Indemnification: This section defines the circumstances under which FCS will indemnify the party, including claims arising from legal actions, obligations, or losses incurred in connection with FCS. 2. Covered Expenses: The agreement typically includes a comprehensive list of expenses that are eligible for indemnification. These might include attorney fees, court costs, judgments, settlements, or other reasonable costs related to legal proceedings. 3. Limitations on Indemnification: The contract may outline certain limitations on indemnification, such as those arising from intentional misconduct, fraud, or violations of laws or regulations. 4. Procedures for Claim Submission: This section explains the procedures that the indemnified party must follow in submitting a claim for reimbursement. It might include requirements like providing written notice within a specified timeframe and providing relevant supporting documentation. 5. Resolution of Disputes: The agreement may detail how any disputes related to the indemnification will be resolved. This may include methods such as arbitration or litigation. Different types or variations of the Nassau New York Form of Indemnity Agreement by Financial Corporation of Santa Barbara may exist based on factors like the specific terms negotiated between the parties or the particular industry involved. However, the overall purpose of such agreements remains consistent — to protect parties from financial loss and provide a sense of assurance and security when engaging in business with FCS in Nassau County, New York. Overall, the Nassau New York Form of Indemnity Agreement by Financial Corporation of Santa Barbara functions as a vital tool in risk management for parties involved in financial transactions with FCS, ensuring that they are adequately protected against potential liabilities and expenses.