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: Trust Agreement (Invesco Bond Fund), Agreement and Declaration of Trust (Invesco Value Municipal Income Trust), Agreement and Declaration of Trust (Invesco Pennsylvania Value Municipal Income Trust)

AutoNDA by SimpleDocs

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 Institutional 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 of Trust (Old Mutual Advisor Funds Ii), Agreement and Declaration of Trust (Aim Advisor Funds), Trust Agreement (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 of Trust (Forward Funds), Agreement and Declaration of Trust (Forward Funds), Agreement and Declaration of Trust (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: Agreement and Declaration of Trust (Invesco High Income 2024 Target Term Fund), Agreement and Declaration of Trust (Invesco High Income 2023 Target Term Fund), Agreement and Declaration of Trust (Invesco Quality Municipal Investment Trust)

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), Trust Agreement (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.

Appears in 2 contracts

Samples: Trust Agreement (Bancroft Fund LTD), Trust Agreement (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 of Trust (Old Mutual Insurance Series Fund), Trust Agreement (PBHG Insurance Series Fund Inc)

AutoNDA by SimpleDocs

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: Trust Agreement (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 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: Amended and Restated Agreement and Declaration of Trust (Virtus Global Multi-Sector 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, 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)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!