Examples of Fund Indemnified Persons in a sentence
The understandings contained in this Agreement are for the sole benefit of the parties hereto (and the Adviser) and their respective successors and assigns and, except as specifically contemplated herein with respect to Destra Indemnified Persons and Fund Indemnified Persons, they shall not be construed as conferring, and are not intended to confer, any rights on any other persons except the Adviser.
If the Distributor does not elect to assume the defense of any suit, it will reimburse the Fund Indemnified Persons that are defendants in the suit for the reasonable fees and expenses of any counsel retained by them, provided that the Distributor is not obligated to reimburse the Fund Indemnified Persons for more than one set of counsel to represent all Fund Indemnified Persons in such suit.
In the case of any notice to the Distributor, it shall be entitled to participate, at its own expense, in the defense or, if it so elects, to assume the defense of any suit brought to enforce the claim, but if the Distributor elects to assume the defense, the defense shall be conducted by counsel chosen by it and satisfactory to the Fund Indemnified Persons that are defendants in the suit.
The failure so to notify FDI of any such action shall not relieve FDI from any liability which FDI may have to the Fund Indemnified Persons by reason of any such untrue, or alleged untrue, statement or omission, or alleged omission, otherwise than on account of FDI’s indemnity agreement contained in this Section 2.16.
This agreement of indemnity will inure exclusively to the benefit of the Fund Indemnified Persons, and if the Fund Indemnified Persons are natural persons, their respective estates, and to the benefit of any controlling persons and their successors.
FDI shall have the right to control the defense of such action, with counsel of its own choosing, satisfactory to the Fund, if such action is based solely upon such alleged misstatement or omission on FDI’s part, and in any other event the Fund Indemnified Persons shall each have the right to participate in the defense or preparation of the defense of any such action.
FDI’s agreement to indemnify the Fund Indemnified Persons, as aforesaid, is expressly conditioned upon FDI being notified of any action brought against the Fund Indemnified Persons, such notification to be given by letter, by facsimile or by telegram addressed to FDI at its address set forth below within a reasonable period of time after the summons or other first legal process shall have been served.
In the event that the Distributor elects to assume the defense of any suit and retain counsel, the Fund Indemnified Persons that are defendants in the suit, shall bear the fees and expenses of any additional counsel retained by them.
The understandings contained in this Agreement are for the sole benefit of the parties hereto and their respective successors and assigns and, except as specifically contemplated herein with respect to Destra Indemnified Persons and Fund Indemnified Persons, they shall not be construed as conferring, and are not intended to confer, any rights on any other persons except the Fund.
The understandings contained in this Agreement are for the sole benefit of the parties hereto (and the Adviser) and their respective successors and assigns and, except as specifically contemplated herein with respect to FWCP Indemnified Persons and Fund Indemnified Persons, they shall not be construed as conferring, and are not intended to confer, any rights on any other persons except the Adviser.