Common use of Indemnification of Shareholders Clause in Contracts

Indemnification of Shareholders. In case any Shareholder or former Shareholder of the Trust shall be held to be personally liable solely by reason of his being or having been a Shareholder of the Trust and not because of his acts or omissions or for some other reason, the Shareholder or former Shareholder (or his heirs, executors, administrators or other legal representatives, or, in the case of a corporation or other entity, its corporate or general successor) shall be entitled, out of the Trust’s assets, to be held harmless from and indemnified against all loss and expense arising from such liability in accordance with the Bylaws and applicable law. The Trust, on its own behalf, shall upon request by the Shareholder, assume the defense of any such claim made against the Shareholder for any act or obligation of the Trust.

Appears in 29 contracts

Samples: Agreement and Declaration of Trust (Invesco Municipal Opportunity Trust), Agreement and Declaration of Trust (Invesco Municipal Income Opportunities Trust), Agreement and Declaration (Invesco Trust for Investment Grade New York Municipals)

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Indemnification of Shareholders. In case If any Shareholder or former Shareholder of the Trust shall be held to be personally liable solely by reason of his its being or having been a Shareholder of the Trust and not because of his its acts or omissions or for some other reason, the Shareholder or former Shareholder (or his its heirs, executors, administrators or other legal representatives, or, representatives or in the case of a corporation or other any entity, its corporate or general successor) shall be entitled, entitled out of the Trust’s assets, assets belonging to the Trust to be held harmless from and indemnified to the maximum extent permitted by law against all loss and expense arising from such liability in accordance with the Bylaws and applicable lawliability. The TrustTrust shall, on its own behalf, shall upon request by the such Shareholder, assume the defense of any such claim made against the such Shareholder for any act or obligation of the Trust and satisfy any judgment thereon from the assets of the Trust.

Appears in 27 contracts

Samples: Agreement and Declaration of Trust (Paramount Institutional Access Fund), Agreement and Declaration of Trust (Paramount Access Fund), Agreement and Declaration of Trust (Paramount Access Fund)

Indemnification of Shareholders. In case any Shareholder or former Shareholder of the Trust shall be held to be personally liable solely by reason of his being or having been a Shareholder of the Trust or any Portfolio or Class and not because of his acts or omissions or for some other reason, the Shareholder or former Shareholder (or his heirs, executors, administrators or other legal representatives, or, in the case of a corporation or other entity, its corporate or general successor) shall be entitled, out of the Trust’s assetsassets belonging to the applicable Portfolio, to be held harmless from and indemnified against all loss and expense arising from such liability in accordance with the Bylaws and applicable law. The Trust, on its own behalfbehalf of the affected Portfolio, shall upon request by the Shareholder, assume the defense of any such claim made against the Shareholder for any act or obligation of the Trustthat Portfolio.

Appears in 18 contracts

Samples: Agreement and Declaration (Old Mutual Advisor Funds Ii), Agreement and Declaration (Aim Tax Exempt Funds), Agreement and Declaration (Aim Variable Insurance Funds)

Indemnification of Shareholders. In case any Shareholder or former Shareholder of the Trust shall be held to be personally liable solely by reason of his being or having been a Shareholder of the Trust or any Series or Class and not because of his acts or omissions or for some other reason, the Shareholder or former Shareholder (or his heirs, executors, administrators or other legal representatives, or, in the case of a corporation or other entity, its corporate or general successor) shall be entitled, out of the Trust’s assetsassets belonging to the applicable Series, to be held harmless from and indemnified against all loss and expense arising from such liability in accordance with the Bylaws and applicable lawliability. The Trust, on its own behalfbehalf of the affected Series, shall upon request by the Shareholder, assume the defense of any such claim made against the Shareholder for any act or obligation of the Trustthat Series.

Appears in 13 contracts

Samples: Agreement and Declaration (Forward Funds), Agreement and Declaration (Forward Funds), Agreement and Declaration (Forward Funds)

Indemnification of Shareholders. In case any Shareholder or former Shareholder of the Trust shall be held to be personally liable solely by reason of his being or having been a Shareholder of the Trust and not because of his acts or omissions or for some other reason, the Shareholder or former Shareholder (or his heirs, executors, administrators or other legal representatives, or, in the case of a corporation or other entity, its corporate or general successor) shall be entitled, out of the Trust’s 's assets, to be held harmless from and indemnified against all loss and expense arising from such liability in accordance with the Bylaws and applicable law. The Trust, on its own behalf, shall upon request by the Shareholder, assume the defense of any such claim made against the Shareholder for any act or obligation of the Trust.

Appears in 10 contracts

Samples: Invesco High Income 2024 Target Term Fund, Invesco High Income 2023 Target Term Fund, Invesco Dynamic Credit Opportunities Fund

Indemnification of Shareholders. In case (a) If any Shareholder or former Shareholder of the Trust (as opposed to a Shareholder or former Shareholder of any Series) shall be held to be personally liable solely by reason of his being or having been a Shareholder of the Trust and not because of his acts or omissions or for some other reason, the Shareholder or former Shareholder (or his heirs, executors, administrators or other legal representatives, or, representatives or in the case of a corporation or other any entity, its corporate or general successor) shall be entitled, entitled out of the Trust’s assets, assets belonging to the Trust to be held harmless from and indemnified against all loss and expense arising from such liability in accordance with the Bylaws and applicable lawliability. The TrustTrust shall, on its own behalf, shall upon request by the such Shareholder, assume the defense of any such claim made against the such Shareholder for any act or obligation of the TrustTrust and satisfy any judgment thereon from the assets of the Series.

Appears in 9 contracts

Samples: Agreement and Declaration of Trust (Miller/Howard High Income Equity Fund), Agreement and Declaration of Trust (Miller/Howard High Income Equity Fund), Agreement and Declaration of Trust (Miller/Howard High Income Equity Fund)

Indemnification of Shareholders. In case any Shareholder or former Shareholder of the Trust shall be held to be personally liable solely by reason of his being or having been a Shareholder of the Trust and not because of his acts or omissions or for some other reason, the Shareholder or former Shareholder (or his heirs, executors, administrators or other legal representatives, or, in the case of a corporation or other entity, its corporate or other general successor) shall be entitled, out of the Trust’s assetsassets held with respect to the applicable Series, to be held harmless from and indemnified against all loss and expense arising from such liability in accordance with the Bylaws and applicable lawliability. The TrustTrust shall, on its own behalf, shall upon request by the a Shareholder or former Shareholder, assume the defense of any such claim made against the Shareholder him for any act or obligation of the TrustTrust or applicable Series.

Appears in 3 contracts

Samples: Agreement and Declaration of Trust (Carillon Series Trust), Agreement and Declaration of Trust (Eagle Series Trust), Permanent Portfolio (Permanent Portfolio Family of Funds Inc)

Indemnification of Shareholders. In case any Shareholder or former Shareholder of the Trust shall be held to be personally liable solely by reason of his being or having been a Shareholder of the Trust or any Class and not because of his acts or omissions or for some other reason, the Shareholder or former Shareholder (or his heirs, executors, administrators or other legal representatives, or, in the case of a corporation or other entity, its corporate or general successor) shall be entitled, out of the assets of the Trust’s assets, to be held harmless from and indemnified against all loss and expense arising from such liability in accordance with the Bylaws and applicable law. The Trust, on its own behalf, Trust shall upon request by the Shareholder, assume the defense of any such claim made against the Shareholder for any act or obligation of the Trust.. ARTICLE IX

Appears in 2 contracts

Samples: Bancroft Fund LTD, Ellsworth Fund LTD

Indemnification of Shareholders. In case any Shareholder or former Shareholder of the Trust shall be held to be personally liable solely by reason of his being or having been a Shareholder of the Trust or any Portfolio and not because of his acts or omissions or for some other reason, the Shareholder or former Shareholder (or his heirs, executors, administrators or other legal representatives, or, in the case of a corporation or other entity, its corporate or general successor) shall be entitled, out of the Trust’s assetsassets belonging to the applicable Portfolio, to be held harmless from and indemnified against all loss and expense arising from such liability in accordance with the Bylaws and applicable law. The Trust, on its own behalfbehalf of the affected Portfolio, shall upon request by the Shareholder, assume the defense of any such claim made against the Shareholder for any act or obligation of the Trustthat Portfolio.

Appears in 2 contracts

Samples: Agreement and Declaration (Old Mutual Insurance Series Fund), Agreement and Declaration (PBHG Insurance Series Fund Inc)

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Indemnification of Shareholders. In case any Shareholder or former Shareholder of the Trust shall be held to be personally liable solely by reason of his being or having been a Shareholder of the Trust and not because of his acts or omissions or for some other reason, the Shareholder or former Shareholder (or his heirs, executors, administrators or other legal representatives, or, in the case of a corporation or other entity, its corporate or general successor) shall be entitled, out of the Trust’s assets, entitled to be held harmless from and indemnified against all loss and expense arising from such liability in accordance with the Bylaws and applicable law. The Trust, on its own behalf, shall upon request by the Shareholder, assume the defense of any such claim made against the Shareholder for any act or obligation of the TrustShareholder.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Invesco Exchange Fund)

Indemnification of Shareholders. In case any Shareholder or former Shareholder of the Trust shall be held to be personally liable solely by reason of his being or having been a Shareholder of the Trust and not because of his acts or omissions or for some other reason, the Shareholder or former Shareholder (or his heirs, executors, administrators or other legal representatives, or, in the case of a corporation or other entity, its corporate or general successor) shall be entitled, out of the Trust’s assets, to be held harmless from and indemnified against all loss and expense arising from such liability in accordance with the Bylaws and applicable law. The Trust, on its own behalf, shall upon request by the Shareholder, assume the defense of any such claim made against the Shareholder for any act or obligation of the TrustShareholder.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Invesco Exchange Fund)

Indemnification of Shareholders. In case If any Shareholder or former Shareholder of the Trust shall be held exposed to be personally liable solely liability by reason of a claim or demand relating solely to his or her being or having been a Shareholder of the Trust Trust, and not because of his such Person’s acts or omissions or for some other reasonomissions, the Shareholder or former Shareholder (or, in the case of a natural person, his or his her heirs, executors, administrators administrators, or other legal representatives, ; or, in the case of a corporation or other entity, its corporate or other general successor) shall be entitled, out of the Trust’s assets, entitled to be held harmless from and indemnified out of the assets of the Trust against all loss and expense arising from such claim or demand; provided, however, there shall be no liability in accordance with the Bylaws and applicable law. The Trust, on its own behalf, shall upon request by the Shareholder, assume the defense of any such claim made against the Shareholder for any act or obligation of the TrustTrust arising hereunder to reimburse any Shareholder for taxes paid by reason of such Shareholder’s ownership of any Shares.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Lind Capital Partners Municipal Credit Income Fund)

Indemnification of Shareholders. In case any Shareholder or former Shareholder of the Trust shall be held to be personally liable solely by reason of his being or having been a Shareholder of the Trust and not because of his acts or omissions or for some other reason, the Shareholder or former Shareholder (or his heirs, executors, administrators or other legal representatives, representatives or, in the case of a corporation or other entity, its corporate or other general successor) shall be entitled, entitled out of the Trust’s assets, assets belonging to the classes of Shares with the same alphabetical designation as that of the Shares owned by such Shareholder to be held harmless from and indemnified against all loss and expense arising from such liability in accordance with the Bylaws and applicable lawliability. The TrustTrust shall, on its own behalf, shall upon request by the Shareholder, assume the defense of any such claim made against the any Shareholder for any act or obligation obligations of the TrustTrust and satisfy any judgment thereon from such assets.

Appears in 1 contract

Samples: Agreement and Declaration (Galaxy Vip Fund)

Indemnification of Shareholders. In case any Shareholder or former Shareholder of the Trust shall be held to be personally liable solely by reason of his being or having been a Shareholder of the Trust and not because of his acts or omissions or for some any other reason, the Shareholder or former Shareholder (or his heirs, executors, administrators or other legal representatives, or, in the case of a corporation or other entity, its corporate or general successor) shall be entitled, out of the Trust’s assets, to be held harmless from and indemnified against all loss and expense arising from such liability in accordance with the Bylaws and applicable law. The Trust, on its own behalf, shall upon request by the Shareholder, assume the defense of any such claim made against the Shareholder for any act or obligation of the Trust.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Virtus Global Multi-Sector Income Fund)

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