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

• Category: Corporations - Public - Indemnification
• State: Multi-State
• County: Wake
• 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 Wake North Carolina Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legally binding document that outlines the terms and conditions under which the Financial Corporation of Santa Barbara agrees to indemnify and hold harmless individuals or organizations against any potential losses, damages, or liabilities arising from a specific transaction or event. This agreement serves as a means of protecting parties involved in various business activities, ensuring that they are financially protected from any legal actions or claims that may arise. The Financial Corporation of Santa Barbara, as the indemnifying party, agrees to bear the burden of any potential losses, costs, or damages incurred by the indemnified party, thereby minimizing their financial risks. The Wake North Carolina Form of Indemnity Agreement by Financial Corporation of Santa Barbara contains essential details such as the names and contact information of the indemnifying party and the indemnified party, the specific transaction or event for which indemnification is provided, and the scope and limits of the indemnity. It also outlines the procedures and requirements for the indemnified party to make a claim, including any necessary documentation or evidence. There are different types of Wake North Carolina Form of Indemnity Agreement by Financial Corporation of Santa Barbara, each catering to specific situations or industries. These may include: 1. Wake North Carolina Form of Indemnity Agreement for Real Estate Transactions: This type of agreement is specifically designed for parties involved in real estate transactions, such as buyers, sellers, and real estate agents. It provides indemnification against issues like title defects, undisclosed liens, or misrepresentations. 2. Wake North Carolina Form of Indemnity Agreement for Business Acquisitions: This agreement is used when a business entity is acquired or merged with another. It offers protection to the acquirer against any unknown or undisclosed liabilities, such as pending lawsuits, tax obligations, or contractual breaches. 3. Wake North Carolina Form of Indemnity Agreement for Loan Guarantees: When a Financial Corporation of Santa Barbara agrees to guarantee a loan or credit facility, this type of agreement ensures that they will indemnify the lender against any potential default or non-payment by the borrower. 4. Wake North Carolina Form of Indemnity Agreement for Professional Services: Professionals like lawyers, accountants, or consultants may require this type of agreement to protect themselves from any claims arising from errors, omissions, or negligence in their services. In conclusion, the Wake North Carolina Form of Indemnity Agreement by Financial Corporation of Santa Barbara provides a comprehensive framework for indemnifying parties involved in various transactions or events. Its versatile nature allows for customization to suit different industries and specific requirements, offering peace of mind and financial protection to all parties involved.

The Wake North Carolina Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legally binding document that outlines the terms and conditions under which the Financial Corporation of Santa Barbara agrees to indemnify and hold harmless individuals or organizations against any potential losses, damages, or liabilities arising from a specific transaction or event. This agreement serves as a means of protecting parties involved in various business activities, ensuring that they are financially protected from any legal actions or claims that may arise. The Financial Corporation of Santa Barbara, as the indemnifying party, agrees to bear the burden of any potential losses, costs, or damages incurred by the indemnified party, thereby minimizing their financial risks. The Wake North Carolina Form of Indemnity Agreement by Financial Corporation of Santa Barbara contains essential details such as the names and contact information of the indemnifying party and the indemnified party, the specific transaction or event for which indemnification is provided, and the scope and limits of the indemnity. It also outlines the procedures and requirements for the indemnified party to make a claim, including any necessary documentation or evidence. There are different types of Wake North Carolina Form of Indemnity Agreement by Financial Corporation of Santa Barbara, each catering to specific situations or industries. These may include: 1. Wake North Carolina Form of Indemnity Agreement for Real Estate Transactions: This type of agreement is specifically designed for parties involved in real estate transactions, such as buyers, sellers, and real estate agents. It provides indemnification against issues like title defects, undisclosed liens, or misrepresentations. 2. Wake North Carolina Form of Indemnity Agreement for Business Acquisitions: This agreement is used when a business entity is acquired or merged with another. It offers protection to the acquirer against any unknown or undisclosed liabilities, such as pending lawsuits, tax obligations, or contractual breaches. 3. Wake North Carolina Form of Indemnity Agreement for Loan Guarantees: When a Financial Corporation of Santa Barbara agrees to guarantee a loan or credit facility, this type of agreement ensures that they will indemnify the lender against any potential default or non-payment by the borrower. 4. Wake North Carolina Form of Indemnity Agreement for Professional Services: Professionals like lawyers, accountants, or consultants may require this type of agreement to protect themselves from any claims arising from errors, omissions, or negligence in their services. In conclusion, the Wake North Carolina Form of Indemnity Agreement by Financial Corporation of Santa Barbara provides a comprehensive framework for indemnifying parties involved in various transactions or events. Its versatile nature allows for customization to suit different industries and specific requirements, offering peace of mind and financial protection to all parties involved.