A "mutual"
indemnification does not have to be so bad
Attorneys for some of the plaintiffs called the declaratory judgment action premature given there are not yet any factual findings or judgments against the officers requiring
indemnification.
a) In case the Insureds would fail to intimate to the Insurers, within 6-months from the Date of the Destruction/Damaging of the Insured Machinery/Property, of their intention in writing, to Replace or Re-Instate the Insured Property, then their alike Claim would be rendered in-admissible for
Indemnification within the ambit of this Clause.
* Should consider whether to enter into separate
indemnification agreements with the company, so they are not relying principally on the articles and bylaws.
* Advise the client to consult with an attorney on how applicable state law may affect the defense and
indemnification agreements.
Regardless, try to limit the value of the
indemnification to the value of your contract, Smith advised.
In addition, the early termination eliminates further negative accretion on the FDIC
indemnification asset, which totaled USD26.4 million for the year ended December 31, 2014 and USD22.2 million for the nine months ended September 30, 2015.
Side B coverage reimburses the company for payments it makes to directors and officers from
indemnification obligations.
The termination results in a pre-tax gain of nearly USD1.7m during the third quarter of 2015 and the elimination of the FDIC
indemnification asset and the FDIC clawback liability.
A request from Florida's elected clerks of court for a rule change giving them
indemnification if confidential information winds up in online court records because of an attorney's failure has been rejected by the Rules of Judicial Administration Committee.
TELECOMWORLDWIRE-May 21, 2015-RPX launches
indemnification coverage for NPE litigation
It is important for taxpayers facing large Canadian tax assessments or negotiating
indemnification provisions in respect to Canadian taxes to understand the operation of the collection provisions and what payment arrangements may be available.
