Queens New York Indemnification Agreement establishing Escrow Reserve

• Category: Corporations - Public - Indemnification
• State: Multi-State
• County: Queens
• Control #: US-CC-17-217
• Format: Word; Rich Text

Description

17-217 17-217 . . . Indemnification Agreement providing that (i) in event of change in control, corporation shall establish Escrow Reserve of $2,000,000 as security for its obligations under Indemnification Agreement and (ii) in event of any liquidation, merger, consolidation or reorganization in which corporation is not surviving entity, or sale of all or substantially all of corporation's assets, corporation shall ensure that Indemnification Agreement is assumed by surviving entity or otherwise provide for satisfaction of its obligations thereunder A Queens New York Indemnification Agreement establishing Escrow Reserve is a legal contractual document that outlines the terms and conditions for indemnifying parties involved in a transaction or agreement. It ensures protection for all parties by setting up an escrow reserve, which acts as a safeguard against potential financial losses or damages. Keywords: Queens New York, Indemnification Agreement, Escrow Reserve, legal document, terms and conditions, indemnifying parties, protection, escrow reserve, financial losses, damages. Types of Queens New York Indemnification Agreement establishing Escrow Reserve: 1. Real Estate Indemnification Agreement: This type of agreement is commonly used in real estate transactions, such as the buying or selling of properties. It protects both the buyer and seller by establishing an escrow reserve to cover any potential damages or losses that may arise during the transaction. 2. Commercial Lease Indemnification Agreement: This agreement is specifically designed for commercial leases in Queens, New York. It outlines the indemnification terms and conditions between the landlord and tenant, ensuring that both parties are protected in case of any financial losses or damages related to the lease. 3. Business Acquisition Indemnification Agreement: When a business acquisition takes place in Queens, New York, this type of agreement can be used to protect both the buyer and seller. It establishes an escrow reserve to cover any potential liabilities or claims that may arise from the acquisition. 4. Contractual Indemnification Agreement: This type of agreement is more general and can be used in various contractual situations. It establishes an escrow reserve to protect parties involved in different types of contracts, ensuring they are indemnified against any financial losses or damages. 5. Employment Indemnification Agreement: In Queens, New York, an employment indemnification agreement may be used to protect both employers and employees. It establishes an escrow reserve to cover any potential claims or liabilities arising from the employment relationship. In conclusion, a Queens New York Indemnification Agreement establishing Escrow Reserve is a crucial legal document that ensures the protection of all parties involved in various transactions or agreements. Whether it pertains to real estate, commercial leases, business acquisitions, contracts, or employment, this agreement establishes an escrow reserve to cover any potential financial losses or damages, safeguarding the interests of all parties involved.

A Queens New York Indemnification Agreement establishing Escrow Reserve is a legal contractual document that outlines the terms and conditions for indemnifying parties involved in a transaction or agreement. It ensures protection for all parties by setting up an escrow reserve, which acts as a safeguard against potential financial losses or damages. Keywords: Queens New York, Indemnification Agreement, Escrow Reserve, legal document, terms and conditions, indemnifying parties, protection, escrow reserve, financial losses, damages. Types of Queens New York Indemnification Agreement establishing Escrow Reserve: 1. Real Estate Indemnification Agreement: This type of agreement is commonly used in real estate transactions, such as the buying or selling of properties. It protects both the buyer and seller by establishing an escrow reserve to cover any potential damages or losses that may arise during the transaction. 2. Commercial Lease Indemnification Agreement: This agreement is specifically designed for commercial leases in Queens, New York. It outlines the indemnification terms and conditions between the landlord and tenant, ensuring that both parties are protected in case of any financial losses or damages related to the lease. 3. Business Acquisition Indemnification Agreement: When a business acquisition takes place in Queens, New York, this type of agreement can be used to protect both the buyer and seller. It establishes an escrow reserve to cover any potential liabilities or claims that may arise from the acquisition. 4. Contractual Indemnification Agreement: This type of agreement is more general and can be used in various contractual situations. It establishes an escrow reserve to protect parties involved in different types of contracts, ensuring they are indemnified against any financial losses or damages. 5. Employment Indemnification Agreement: In Queens, New York, an employment indemnification agreement may be used to protect both employers and employees. It establishes an escrow reserve to cover any potential claims or liabilities arising from the employment relationship. In conclusion, a Queens New York Indemnification Agreement establishing Escrow Reserve is a crucial legal document that ensures the protection of all parties involved in various transactions or agreements. Whether it pertains to real estate, commercial leases, business acquisitions, contracts, or employment, this agreement establishes an escrow reserve to cover any potential financial losses or damages, safeguarding the interests of all parties involved.