17-158 17-158 . . . Indemnification Agreement between corporation and its directors and/or officers including future directors and officers containing detailed provisions relating to method for determining whether standards for indemnification or reimbursement have been met and making corporation responsible for all costs of determining whether a person is entitled to indemnification or reimbursement regardless of whether person is ultimately found to be entitled to indemnification
Tennessee Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met
Category:
State:
Multi-State
Control #:
US-CC-17-158
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Indemnification Agreement Between Corporation And Its Directors Regarding Method For Determining Whether Standards For Indemnification Have Been Met?
You may commit hrs on the Internet searching for the lawful file template that suits the state and federal needs you will need. US Legal Forms gives a large number of lawful kinds that are analyzed by specialists. You can actually obtain or print out the Tennessee Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met from my service.
If you already have a US Legal Forms accounts, it is possible to log in and click the Download button. Afterward, it is possible to complete, modify, print out, or indication the Tennessee Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met. Each and every lawful file template you buy is your own property forever. To have one more duplicate for any bought develop, go to the My Forms tab and click the related button.
If you use the US Legal Forms website the first time, keep to the simple guidelines below:
- Very first, be sure that you have chosen the best file template for your county/city of your liking. Look at the develop description to make sure you have picked the right develop. If available, utilize the Review button to appear throughout the file template too.
- If you would like locate one more edition in the develop, utilize the Search field to discover the template that meets your needs and needs.
- Once you have located the template you desire, simply click Purchase now to proceed.
- Select the prices strategy you desire, enter your credentials, and register for an account on US Legal Forms.
- Complete the deal. You can utilize your charge card or PayPal accounts to cover the lawful develop.
- Select the format in the file and obtain it for your product.
- Make adjustments for your file if needed. You may complete, modify and indication and print out Tennessee Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met.
Download and print out a large number of file templates making use of the US Legal Forms site, that offers the biggest assortment of lawful kinds. Use specialist and status-particular templates to handle your business or specific needs.
Form popularity
FAQ
Tennessee courts recognize a common law cause of action for indemnity based on the principle that a person should bear responsibility for his own wrongdoing. Tennessee courts will impose an implied obligation to indemnify when either: The obligation is a necessary element of the parties' relationship.
A company may, however, lend money to a director to fund the director's defence costs. Frequently, an indemnity will include a provision under which the company agrees to lend the director the amounts necessary to fund the director's defence costs.
The rule of indemnity, or the indemnity principle, says that an insurance policy should not confer a benefit that is greater in value than the loss suffered by the insured. Indemnities and insurance both guard against financial losses and aim to restore a party to the financial status held before an event occurred.
Indemnification clauses are generally enforceable, but there are important qualifications. Some courts hold that broad form or ?no fault? indemnifications, which are blind to fault on the part of either party, violate public policy.
There are three main types of express indemnity clauses: broad form, intermediate form, and limited form. Broad form express indemnity clauses require the indemnitor to hold the indemnitee harmless for all liability, even if the indemnitee is solely at fault.
Indemnification is, generally speaking, a reimbursement by a company of its Ds&Os for expenses or losses they have incurred in connection with litigation or other proceedings relating to their service to the company.
What is a Hold Harmless? A hold harmless agreement is your agreement not to sue, should you be injured while on someone's property, or while engaging in a particular activity or sport. Generally, Tennessee courts have held these agreements enforceable.
The right to indemnification may be implied by obligation of law in vicarious liability situations or created by express contract. Implied (or common law) indemnification exists where ?the law imposes liability on a party who has committed no actual wrong but who is held responsible for a loss ... ?