Common use of Limitation on Indemnity Clause in Contracts

Limitation on Indemnity. The Indemnification otherwise available to an Indemnitee under Section 3.2 shall be limited to the extent set forth in this Section 3.3. In the event that an Indemnitee is found liable to the Corporation or is found liable on the basis that personal benefit was improperly received by the Indemnitee whether or not the benefit resulted from an action taken in Indemnitee's official capacity the Indemnitee shall, with respect to the Claim in the Proceeding in which such finding is made, be indemnified only against reasonable Expenses actually incurred by him in connection with that Claim. Notwithstanding the foregoing, no indemnification against such Expenses shall be made in respect of any Claim in such Proceeding as to which Indemnitee shall have been adjudged to be liable for willful or intentional misconduct in the performance of his duty to the Corporation; provided, however, that, if applicable law so permits, indemnification against such Expenses shall nevertheless be made by the Corporation in such event if and only to the extent that the court in which such Proceeding shall have been brought or is pending, shall determine.

Appears in 2 contracts

Samples: Indemnification Agreement (Carrizo Oil & Gas Inc), Indemnification Agreement (Carrizo Oil & Gas Inc)

AutoNDA by SimpleDocs

Limitation on Indemnity. The Indemnification indemnification otherwise available to an Indemnitee under Section 3.2 shall be limited to the extent set forth in this Section 3.3. In the event that an Indemnitee is found liable to the Corporation or is found liable on the basis that personal benefit was improperly received by the Indemnitee whether or not the benefit resulted from an action taken in Indemnitee's official capacity the Indemnitee shall, with respect to the Claim Claim, issue or matter, in the Proceeding in which such finding is made, be indemnified only against reasonable Expenses actually incurred by him Indemnitee in connection with that Claim, issue or matter therein. Notwithstanding the foregoing, no indemnification against such Expenses shall be made in respect of any Claim Claim, issue or matter, in such Proceeding as to which Indemnitee shall have been adjudged to be liable for willful or intentional misconduct in the performance of his Indemnitee's duty to the Corporation; provided, however, that, if applicable law so permits, indemnification against such Expenses shall nevertheless be made by the Corporation in such event if and only to the extent that the court in which such Proceeding shall have been brought or is pending, shall determine.

Appears in 1 contract

Samples: Indemnification Agreement (SBS Technologies Inc)

Limitation on Indemnity. The Indemnification indemnification otherwise available to an Indemnitee under Section 3.2 shall be limited to the extent set forth in this Section 3.3. In the event that If an Indemnitee is found liable to the Corporation or is found liable on the basis that personal benefit was improperly received by the Indemnitee whether or not the benefit resulted from an action taken in Indemnitee's official capacity the Indemnitee shall, with respect to the Claim Claim, issue or matter in the Proceeding in which such finding is made, be indemnified only against reasonable Expenses actually incurred by him in connection with that Claim, issue or matter. Notwithstanding the foregoing, no indemnification against such Expenses shall be made in respect of any Claim Claim, issue or matter in such Proceeding as to which Indemnitee shall have been adjudged to be liable for willful or intentional misconduct in the performance of his duty to the Corporation; provided, however, that, if applicable law so permits, indemnification against such Expenses shall nevertheless be made by the Corporation in such event if and only to the extent that the court in which such Proceeding shall have been brought or is pending, shall determine.

Appears in 1 contract

Samples: Indemnification Agreement (Pioneer Natural Resources Co)

Limitation on Indemnity. The Indemnification indemnification otherwise available to an Indemnitee under Section 3.2 2.2 shall be limited to the extent set forth in this Section 3.32.3. In the event that an If Indemnitee is found liable to the Corporation Company or is found liable on the basis that personal benefit was improperly received by the Indemnitee whether or not the benefit resulted from an action taken in Indemnitee's ’s official capacity (as defined in the Act), Indemnitee shall, with respect to the Claim claim, issue or matter in the Proceeding proceeding in which such finding is made, be indemnified only against reasonable Expenses actually incurred by him in connection with that ClaimDefense Costs. Notwithstanding the foregoing, no indemnification against such Expenses reasonable Defense Costs shall be made in respect of any Claim claim, issue or matter in such Proceeding proceeding as to which Indemnitee shall have been adjudged to be liable for willful or intentional misconduct in the performance of his duty to the CorporationCompany; provided, however, that, if applicable law so permits, indemnification against such Expenses reasonable Defense Costs shall nevertheless be made by the Corporation Company in such event if and only to the extent that the court in which such Proceeding proceeding shall have been brought or is pending, shall determine.

Appears in 1 contract

Samples: Form of Indemnification Agreement (Grey Wolf Inc)

Limitation on Indemnity. The Indemnification indemnification otherwise available to an Indemnitee under Section 3.2 2.2 shall be limited to the extent set forth in this Section 3.32.3. In the event that an Indemnitee is found liable to the Corporation or is found liable on the basis that personal benefit was improperly received by the Indemnitee Indemnitee, whether or not the benefit resulted from an action taken in Indemnitee's official capacity the ’s Official Capacity, Indemnitee shall, with respect to the Claim in the Proceeding in which such finding is made, be indemnified only against reasonable Expenses actually incurred by him him/her in connection with that Claim. Notwithstanding the foregoing, no indemnification against such Expenses shall be made in respect of any Claim in such Proceeding as to which Indemnitee shall have been adjudged to be liable for willful or intentional misconduct in the performance of his his/her duty to the Corporation; provided, however, that, if applicable law so permits, indemnification against such Expenses shall nevertheless be made by the Corporation in such event if and only to the extent that the court in which such Proceeding shall have been brought or is pending, shall determine.

Appears in 1 contract

Samples: Indemnification Agreement (Peerless Manufacturing Co)

Limitation on Indemnity. The Indemnification otherwise available to an Indemnitee under Section 3.2 shall be limited to the extent set forth in this Section 3.3. In the event that an Indemnitee is found liable to the Corporation or is found liable on the basis that personal benefit was improperly received by the Indemnitee whether or not the benefit resulted from an action taken in Indemnitee's official capacity capacity, the Indemnitee shall, with respect to the Claim in the Proceeding in which such finding is made, be indemnified only against reasonable Expenses actually incurred by him in connection with that Claim. Notwithstanding the foregoing, no indemnification against such Expenses shall be made in respect of any Claim in such Proceeding as to which Indemnitee shall have been adjudged to be liable for willful or intentional misconduct in the performance of his duty to the Corporation; provided, however, that, if applicable law so permits, indemnification against such Expenses shall nevertheless be made by the Corporation in such event if and only to the extent that the court in which such Proceeding shall have been brought or is pending, shall determine.

Appears in 1 contract

Samples: Indemnity Agreement (Kinetic Concepts Inc /Tx/)

Limitation on Indemnity. The Indemnification otherwise available to an Indemnitee under Section 3.2 shall be limited to the extent set forth in this Section 3.3. In the event that an Indemnitee is found liable to the Corporation or is found liable on the basis that personal benefit was improperly received by the Indemnitee whether or not the benefit resulted from an action taken in Indemnitee's official capacity capacity, the Indemnitee shall, with respect to the Claim in the Proceeding in which such finding is made, shall be indemnified only against reasonable Expenses actually incurred by him in connection with that Claimthe Proceeding. Notwithstanding the foregoing, no indemnification against for such Expenses shall be made in respect of any Claim Proceeding in such Proceeding as to which the Indemnitee shall have been adjudged found to be liable for willful or intentional misconduct in the performance of his duty to the Corporation; provided, however, that, if applicable law so permits, indemnification against for such Expenses shall nevertheless be made by the Corporation in such event if and only to the extent that the court in which such Proceeding shall have been brought or is pending, shall determine.

Appears in 1 contract

Samples: Indemnification Agreement (Gexa Corp)

AutoNDA by SimpleDocs

Limitation on Indemnity. The Indemnification indemnification otherwise available to an Indemnitee under Section 3.2 2.2 shall be limited to the extent set forth in this Section 3.32.3. In the event that an Indemnitee is found liable to the Corporation or is found liable on the basis that personal benefit was improperly received by the Indemnitee Indemnitee, whether or not the benefit resulted from an action taken in Indemnitee's official capacity the Official Capacity, Indemnitee shall, with respect to the Claim in the Proceeding in which such finding is made, be indemnified only against reasonable Expenses actually incurred by him him/her in connection with that Claim. Notwithstanding the foregoing, no indemnification against such Expenses shall be made in respect of any Claim in such Proceeding as to which Indemnitee shall have been adjudged to be liable for willful or intentional misconduct in the performance of his his/her duty to the Corporation; provided, however, that, if applicable law so permits, indemnification against such Expenses shall nevertheless be made by the Corporation in such event if and only to the extent that the court in which such Proceeding shall have been brought or is pending, shall determine.

Appears in 1 contract

Samples: Indemnification Agreement (Amerisafe Inc)

Limitation on Indemnity. The Indemnification otherwise available to an Indemnitee under Section 3.2 shall be limited to the extent set forth in this Section 3.3. In the event that an Indemnitee is found liable to the Corporation or is found liable on the basis that personal benefit was improperly received by the Indemnitee Indemnitee, whether or not the benefit resulted from an action taken in Indemnitee's ’s official capacity capacity, the Indemnitee shall, with respect to the Claim in the Proceeding in which such finding is made, be indemnified only against reasonable Expenses actually incurred by him in connection with that ClaimProceeding. Notwithstanding the foregoing, no indemnification against such Expenses shall be made in respect of any Claim in such Proceeding as to which Indemnitee shall have been adjudged to be liable for (a) willful or intentional misconduct in the performance of his duty to the Corporation, (b) breach of his duty of loyalty owed to the Corporation or (c) an act or omission not committed in good faith that constitutes a breach of a duty owed by Indemnitee to the Corporation; provided, however, that, if applicable law so permits, indemnification against such Expenses shall nevertheless be made by the Corporation in such event if and only to the extent that the court in which such Proceeding shall have been brought or is pending, shall determine.

Appears in 1 contract

Samples: Indemnification Agreement (Atwood Oceanics Inc)

Limitation on Indemnity. The Indemnification otherwise available to an Indemnitee under Section 3.2 shall be limited to the extent set forth in this Section 3.3. In the event that an Indemnitee is found liable to the Corporation or is found liable on the basis that personal benefit was improperly received by the Indemnitee whether or not the benefit resulted from an action taken in Indemnitee's ’s official capacity the Indemnitee shall, with respect to the Claim Claim, issue or matter, in the Proceeding in which such finding is made, be indemnified only against reasonable Expenses actually incurred by him in connection with that Claim, issue or matter therein. Notwithstanding the foregoing, no indemnification against such Expenses shall be made in respect of any Claim Claim, issue or matter, in such Proceeding as to which Indemnitee shall have been adjudged to be liable for willful or intentional misconduct in the performance of his duty to the Corporation; provided, however, that, if applicable law so permits, indemnification against such Expenses shall nevertheless be made by the Corporation in such event if and only to the extent that the court in which such Proceeding shall have been brought or is pending, shall determine.

Appears in 1 contract

Samples: Indemnification Agreement (Cap Rock Energy Corp)

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