Indemnity Fund definition

Indemnity Fund means the Iowa grain depositors and sellers indemnity fund created in Iowa Code chapter 203D.

Indemnity Fund means the Petroleum Storage Tank Release Environmental Cleanup Indemnity Fund;

Indemnity Fund means the Petroleum Storage Tank Indemnity

Examples of Indemnity Fund in a sentence

• The Indemnitee may elect to employ such Indemnity Fund to assist any other Agent of the Company, who the Company has failed or unreasonably refused to indemnify (such judgement shall be at the reasonable discretion of the Indemnitee unless the Company shall show just and reasonable cause why such other Agent has no right in law to indemnity and, if required by the Indemnitee, has shown such to the satisfaction of a court) similarly situated to the Indemnitee.

• Regardless of the funding of the Indemnity Fund the Company shall pay all Expenses and the Indemnitee is not required to employ the Indemnity Fund first for Expenses or indemnification (the Indemnity Fund is an assurance of last resort for the Indemnitee for Expenses) but, unless otherwise agreed by the Indemnitee, such fund shall be retained unimpaired as continuing security in the event that the Company fails to provide indemnity at any time or is unable to do so.

• At any time that the Indemnitee employs any part of the Indemnity Fund the Company shall replenish the Indemnity Fund immediately at the requirement of the Indemnitee.

• The Indemnitee agrees to dissolve any Indemnity Fund and settle the net assets thereof on the Company at such time as statutory limitations have expired for any actions but in any event not less than the later of six (6) years following termination of the Indemnitee acting as an Agent for the Company or two years after the completion of the last proceeding, or threat of a proceeding, against the Indemnitee.

• Upon termination of the indemnification obligations under this Article VIII and reimbursement of the Parent Group Members of Losses and Expenses payable in respect thereof hereunder, the Indemnity Fund shall terminate and shall be distributed in accordance with the Indemnity Agreement after payment of any amounts therefrom due to the Indemnity Agent.

More Definitions of Indemnity Fund

Indemnity Fund means the aggregate amount of $1,800,000, being deposited by Buyer with the Escrow Agent pursuant to the Indemnity Escrow Agreement(s) in accordance

Indemnity Fund. Defined in Section 2.4.

Indemnity Fund means the fund maintained under Part 3; "land" includes—

Indemnity Fund has the meaning set forth in Section 9.4(a) hereof;

Indemnity Fund has the meaning specified in Section 10.9(a).

Indemnity Fund means the Petroleum Storage Tank Release

Indemnity Fund means the amount of $10,000,000 being deposited by Buyer with, or at Sellers' option, being provided by Sellers in the form of the Letters of Credit delivered to and in favor of, the Escrow Agent pursuant to the Indemnity Agreement in accordance with Sections 2.5 and 10.4 hereof and the terms of the Indemnity Agreement, to provide a fund for the payment of any indemnification to which any Charter Party shall be entitled under Section 10 hereof.