agreement should not only require such advancement but also specify a time frame within which the company must respond after receiving a reimbursement request.
The SEC's prohibition of auditor indemnification
for public companies is unequivocal in its Accounting Series Release "Indemnification
The amendment specifically prohibits the availability of the indemnification
protection when a court determines that the indemnified party has committed 'gross negligence' with corresponding damage to the fundamental interests of the membership.
When you purchase support and indemnification
, LinuxlT's Open Source Software Indemnification
Program guarantees the performance of the OSS item against an enterprise Service Level Agreement (SLA).
The court may have been concerned with the inconsistent tax and accounting treatment, the lack of apparent business purpose for the indemnification
, the fact that the indemnification
applied only after the assets had become worthless, or the apparent worthlessness of the guarantee itself, in light of the lack of assets in the distributee.
The fact that the hospital settled the case against it for $1 Million did not extend its right to seek indemnification
from any of the doctors who were allegedly responsible for the negligence, which the hospital acknowledged by settling for $1 Million.
If a company is a primary obligor to the taxing authority, it should account for the indemnification
pursuant to the provisions within ASC 740, Income Taxes (ASC 740), dealing with accounting for uncertain tax positions.
Families of the injured will also benefit from material indemnification
businesses in the real estate industry have become more keenly aware of their liability risks and more likely to try to shift such risks by using indemnification
Stevens added, "We need to clarify which circumstances we'll require indemnification
[for] and the level of loan performance we expect lenders to maintain.
As an in-house lawyer, mine are document retention policies and indemnification
of directors and officers.
Most of them concern reclaiming confiscated property, one-third involve indemnification
with bonds, as some 20 percent involve indemnification
with some other form of assets.