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

• Category: Corporations - Public - Indemnification
• State: Multi-State
• County: Suffolk
• 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 Suffolk New York Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legal document that outlines the terms and conditions of indemnification provided by the Financial Corporation of Santa Barbara to individuals or entities residing in Suffolk County, New York. Indemnification is a type of recourse wherein the Financial Corporation of Santa Barbara agrees to bear the legal, financial, and other related responsibilities for any loss, damage, or liability incurred by the indemnified party. This agreement serves as a guarantee of protection against potential risks or unforeseen circumstances that may arise during various transactions or business activities. The Suffolk New York Form of Indemnity Agreement by Financial Corporation of Santa Barbara covers a broad range of situations, including but not limited to: 1. Loan Agreements: In case the borrower defaults on their repayment obligations, the Financial Corporation of Santa Barbara agrees to indemnify the lender from any resulting losses or damages. 2. Real Estate Transactions: When purchasing or selling a property in Suffolk County, New York, the Financial Corporation of Santa Barbara assumes responsibility for any legal claims, encumbrances, or liabilities that may arise from the transaction. 3. Business Contracts: The agreement offers protection to parties entering into various business contracts, shielding them from potential financial implications resulting from breaches, non-performance, or litigation. 4. Employment Agreements: Individuals employed by the Financial Corporation of Santa Barbara are entitled to indemnification for legal expenses and any claims that might arise from actions taken within their scope of employment. 5. Investment Arrangements: Investors entering into agreements with the Financial Corporation of Santa Barbara, whether for stocks, securities, or other investment vehicles, may be indemnified against losses incurred due to the corporation's negligence, fraud, or misrepresentation. It is important to note that while different forms of the Suffolk New York Indemnity Agreement exist, the specifics of each agreement may vary depending on the nature of the transaction or activity undertaken. It is advisable to seek legal advice or consult the relevant agreement directly for detailed information tailored to a specific situation.

The Suffolk New York Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legal document that outlines the terms and conditions of indemnification provided by the Financial Corporation of Santa Barbara to individuals or entities residing in Suffolk County, New York. Indemnification is a type of recourse wherein the Financial Corporation of Santa Barbara agrees to bear the legal, financial, and other related responsibilities for any loss, damage, or liability incurred by the indemnified party. This agreement serves as a guarantee of protection against potential risks or unforeseen circumstances that may arise during various transactions or business activities. The Suffolk New York Form of Indemnity Agreement by Financial Corporation of Santa Barbara covers a broad range of situations, including but not limited to: 1. Loan Agreements: In case the borrower defaults on their repayment obligations, the Financial Corporation of Santa Barbara agrees to indemnify the lender from any resulting losses or damages. 2. Real Estate Transactions: When purchasing or selling a property in Suffolk County, New York, the Financial Corporation of Santa Barbara assumes responsibility for any legal claims, encumbrances, or liabilities that may arise from the transaction. 3. Business Contracts: The agreement offers protection to parties entering into various business contracts, shielding them from potential financial implications resulting from breaches, non-performance, or litigation. 4. Employment Agreements: Individuals employed by the Financial Corporation of Santa Barbara are entitled to indemnification for legal expenses and any claims that might arise from actions taken within their scope of employment. 5. Investment Arrangements: Investors entering into agreements with the Financial Corporation of Santa Barbara, whether for stocks, securities, or other investment vehicles, may be indemnified against losses incurred due to the corporation's negligence, fraud, or misrepresentation. It is important to note that while different forms of the Suffolk New York Indemnity Agreement exist, the specifics of each agreement may vary depending on the nature of the transaction or activity undertaken. It is advisable to seek legal advice or consult the relevant agreement directly for detailed information tailored to a specific situation.