Oklahoma Ratification and approval of directors and officers insurance indemnity fund with copy of agreement
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How to fill out Ratification And Approval Of Directors And Officers Insurance Indemnity Fund With Copy Of Agreement?
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FAQ
Indemnity Agreement: Although similar to a hold harmless agreement, an indemnity agreement is an arrangement whereby one party agrees to pay the other party for any damages regardless of who is at fault.
A letter of indemnity (LOI) is a legal agreement that renders one or both parties to a contract harmless by some third party in the event of a delinquency or breach by the contracted parties. In other words, the party or parties are indemnified against a possible loss by some third party, such as an insurance company.
Insurance ? The indemnification agreement typically will require that the company provide D&O liability insurance that protects the indemnitee to the same extent as the most favorably insured of the company's and its affiliates' current directors and officers.
For example, A promises to deliver certain goods to B for Rs. 2,000 every month. C comes in and promises to indemnify B's losses if A fails to so deliver the goods. This is how B and C will enter into contractual obligations of indemnity.
This form of a Release Agreement, Indemnity Agreement and Hold Harmless Agreement releases a party from certain specified liabilities. Releases are used to transfer risk from one party to another and protect against the released party or reimburse the released party for damage, injury, or loss.
THIS INDEMNITY AGREEMENT (the ?Agreement? or this ?Indemnity Agreement?), is made and entered into as of this date, by and between party name 1 (the ?Indemnifying Party?), a state corporation, with a registered office located at address and party name 2, a state corporation, with a registered office located at address ...
A corporation shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative, other than an action by or in the right of the corporation, by reason of the ...
Indemnity is a type of insurance compensation paid for damage or loss. When the term is used in the legal sense, it also may refer to an exemption from liability for damage. Indemnity is a contractual agreement between two parties in which one party agrees to pay for potential losses or damage caused by another party.