Trustee's Indemnification definition

Trustee's Indemnification means sufficient funds, in the opinion of the Trustee, to commence, continue and carry out any act, action or proceedings and an indemnity in the following form, unless the Trustee and the indemnifying party agree otherwise: All uses of the words "hereto", "herein", "hereof, "hereby" and "hereunder" and similar expressions refer to this Security Agreement and not to any particular section or portion of it. All references to Persons herein shall include their respective successors and assigns.
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Trustee's Indemnification means sufficient funds, in the opinion of the Trustee, to commence, continue and carry out any act, action or proceeding and an indemnity satisfactory to the Trustee to protect and hold harmless the Trustee from and against all costs, charges, expenses and liabilities that it might incur as a result of any such act, action or proceeding and any loss and damage it may sustain by reason thereof.
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Examples of Trustee's Indemnification in a sentence

  • The obligation of the Trustee to commence or continue any act, action or proceedings for the purpose of realizing upon the Security Interest pursuant to the terms of any applicable law or this Security Agreement or for the enforcement of any covenant or obligation under or arising under this Security Agreement or the Debentures shall, at the option of the Trustee, be conditional upon the Debentureholders furnishing, when required in writing by the Trustee, the Trustee's Indemnification.

Related to Trustee's Indemnification

  • Indemnification means an agreement of indemnity or a release from liability where the intent or effect is to shift or limit in any manner the potential liability of the person or firm for failure to adhere to applicable auditing or professional standards, whether or not resulting in part from knowing of other misrepresentations made by the insurer or its representatives.

  • Indemnification Obligation means any existing or future obligation of any Debtor to indemnify current and former directors, officers, members, managers, agents or employees of any of the Debtors who served in such capacity, with respect to or based upon such service or any act or omission taken or not taken in any of such capacities, or for or on behalf of any Debtor, whether pursuant to agreement, the Debtors’ respective memoranda, articles or certificates of incorporation or formation, corporate charters, bylaws, operating agreements, limited liability company agreements, or similar corporate or organizational documents or other applicable contract or law in effect as of the Effective Date, excluding any obligation to indemnify any of the foregoing parties with respect to any act or omission for or on behalf of the Debtors arising out of any act or omission determined by a Final Order to constitute actual fraud, willful misconduct, or gross negligence.

  • Indemnification Cap has the meaning set forth in Section 9.4(a).

  • Fiduciary Indemnified Person has the meaning set forth in Section 10.4(b).

  • Indemnification Expenses has the meaning set forth in Section 6.11(a).