Common use of Compromise Payment Clause in Contracts

Compromise Payment. As to any matter disposed of by a compromise payment by any such Covered Person referred to in Section 4 of this Article VII, pursuant to a consent decree or otherwise, no such indemnification either for said payment or for any other expenses shall be provided unless such indemnification shall be approved (i) by a majority of a quorum of the Disinterested Trustees or (ii) by an independent legal counsel in a written opinion.

Appears in 2 contracts

Sources: Agreement and Declaration of Trust (Usallianz Variable Insurance Products Trust), Trust Agreement (Usallianz Funds)

Compromise Payment. As to any matter disposed of by a compromise payment by any such Covered Person referred to in Section 4 of this Article VII8.4 hereof, pursuant to a consent decree or otherwise, no such indemnification either for said payment or for any other expenses shall be provided unless such indemnification shall be approved (i) by a majority of a quorum of the Disinterested disinterested Trustees or (ii) by an independent legal counsel in a written opinion.an

Appears in 1 contract

Sources: Trust Agreement (Van Kampen Equity Trust Ii)

Compromise Payment. As to any matter disposed of by a compromise payment by any such Covered Person referred to in Section 4 of this Article VII, pursuant to a consent decree or otherwise, no such indemnification either for said payment or for any other expenses shall be provided unless such indemnification shall be approved (i) by a majority of a quorum of the Disinterested Trustees or (ii) by an independent legal counsel in a written opinion.. Approval by the Trustees pursuant to clause (i) or by independent legal counsel pursuant to clause

Appears in 1 contract

Sources: Trust Agreement (Allianz Variable Insurance Products Fund of Funds Trust)

Compromise Payment. As to any matter disposed of by a compromise payment by any such Covered Person referred to in Section 4 of this Article VII4.1 above, pursuant to a consent decree or otherwise, no such indemnification either for said payment or for any other expenses shall be provided unless such indemnification compromise shall be approved as in the best interests of the Trust, after notice that it involved such indemnification, (ia) by a disinterested majority of the Trustees then in office; or (b) by a majority of a quorum of the Disinterested disinterested Trustees or (ii) by an independent legal counsel then in a written opinion.office; or

Appears in 1 contract

Sources: By Laws (PFS Funds)

Compromise Payment. As to any matter disposed of by a compromise payment by any such Covered Person referred to in Section 4 of this Article VII4.1 above, pursuant to a consent decree or otherwise, no such indemnification either for said payment or for any other expenses shall be provided unless such indemnification compromise shall be approved as in the best interests of the Trust, after notice that it involved such indemnification, (ia) by a disinterested majority of a quorum of the Disinterested Trustees or (ii) by an independent legal counsel then in a written opinion.office; or

Appears in 1 contract

Sources: By Laws (Gmo Trust)