Legal Action by Trustee; Indemnification Sample Clauses

Legal Action by Trustee; Indemnification. The Trustee may maintain any legal action to protect or collect the proceeds of the Trust Assets without first receiving written instructions to do so from the District and shall be entitled to charge any and all costs and expenses (including reasonable attorney’s fees) to the Trust. The Trustee is not obligated to institute or to become a party to any legal action involving the post-employment benefit plans maintained by the District, or the payment of Benefits on behalf of Plan participants, unless the Trustee is indemnified to Trustee’s satisfaction for any reasonable fees and expenses incurred in connection with the litigation. The cost of any such litigation to which the Trustee is a party shall be an expense reimbursable from Trust Assets; provided, however, that to the extent the Trustee has engaged in misconduct, negligence, gross negligence or other malfeasance, the expense shall not be reimbursable from the Trust Assets.
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Related to Legal Action by Trustee; Indemnification

  • Indemnification of Indemnitees From and after Bank Closing and subject to the limitations set forth in this Section and Section 12.6 and compliance by the Indemnitees with Section 12.2, the Receiver agrees to indemnify and hold harmless the Indemnitees against any and all costs, losses, liabilities, expenses (including attorneys' fees) incurred prior to the assumption of defense by the Receiver pursuant to paragraph (d) of Section 12.2, judgments, fines and amounts paid in settlement actually and reasonably incurred in connection with claims against any Indemnitee based on liabilities of the Failed Bank that are not assumed by the Assuming Institution pursuant to this Agreement or subsequent to the execution hereof by the Assuming Institution or any Subsidiary or Affiliate of the Assuming Institution for which indemnification is provided hereunder in (a) of this Section 12.1, subject to certain exclusions as provided in (b) of this Section 12.1: (1) claims based on the rights of any shareholder or former shareholder as such of

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