Conditions to Indemnification. The Trustee shall be indemnified pursuant to this Section 2 if either: (1) the court or other body before which the Proceeding is brought shall have rendered a Final Decision on the merits, finding that the Trustee is not liable, has not engaged in Disabling Conduct, and/or is entitled to indemnification; (2) the Proceeding against the Trustee shall have been dismissed for insufficiency of evidence of any Disabling Conduct with which the Trustee has been charged; or (3) in the absence of such a Final Decision, dismissal or withdrawal, a determination shall have been made that the Trustee has not engaged in Disabling Conduct: (i) by the court or other body approving the settlement or other disposition of the Proceeding; or (ii) based upon a review of the available facts with respect to the Proceeding, by, in the Independent Trustees’ sole discretion, either the vote of a majority of a quorum of Independent Trustees or by Independent Counsel in a written opinion.
Appears in 4 contracts
Sources: Indemnification Agreement (USVC Venture Capital Access Fund), Indemnification Agreement (City National Rochdale Strategic Credit Fund), Indemnification Agreement (City National Rochdale Select Strategies Fund)
Conditions to Indemnification. The Trustee Director shall be indemnified pursuant to this Section 2 if either:
(1i) the court or other body before which the Proceeding is brought shall have rendered a Final Decision on the merits, finding that the Trustee Director is not liable, has not engaged in Disabling Conduct, and/or is entitled to indemnification;
(2ii) the Proceeding against the Trustee Director shall have been dismissed for insufficiency of evidence of any Disabling Conduct with which the Trustee Director has been charged; or
(3iii) in the absence of such a Final Decision, dismissal or withdrawal, a determination shall have been made that the Trustee Director has not engaged in Disabling Conduct: (i) by the court or other body approving the settlement or other disposition of the Proceeding; or (ii) based upon a review of the available facts with respect to the Proceeding, by, in the Independent Trustees’ sole discretion, by either the vote of a majority of a quorum of Independent Trustees Directors or by Independent Counsel in a written opinion.
Appears in 3 contracts
Sources: Indemnification Agreement (TCW Steel City Perpetual Levered Fund LP), Indemnification Agreement (TCW Star Direct Lending LLC), Indemnification Agreement (TCW Direct Lending VIII LLC)
Conditions to Indemnification. The Trustee shall be indemnified pursuant to this Section 2 if either:
(1) the court or other body before which the Proceeding relating to the Trustee's liability is brought shall have rendered a Final Decision final decision on the merits, finding that the Trustee is not liable, has is not engaged in liable by reason of Disabling Conduct, and/or is entitled to indemnification;
(2) the Proceeding against the Trustee shall have been dismissed for insufficiency of evidence of any Disabling Conduct with which the Trustee has been charged; or
(3) in the absence of such a Final Decisionfinal decision, dismissal or withdrawal, a determination shall have been made that the Trustee has is not engaged in liable by reason of Disabling Conduct: (i) by the court or other body approving the settlement or other disposition of the Proceeding; or (ii) , based upon a review of the available facts with respect to the Proceedingfacts, by, in the Independent Trustees’ sole discretion, by either the vote of a majority of a quorum of Independent Trustees or by Independent Counsel in a written opinion.
Appears in 3 contracts
Sources: Indemnification Agreement (Mainstay Funds), Indemnification Agreement (Mainstay Funds), Indemnification Agreement (Eclipse Funds)
Conditions to Indemnification. The Trustee Director shall be indemnified pursuant to this Section 2 if either:
(1) the court or other body before which the Proceeding is brought shall have rendered a Final Decision on the merits, finding that the Trustee Director is not liable, has not engaged in Disabling Conduct, and/or is entitled to indemnification;
(2) the Proceeding against the Trustee Director shall have been dismissed for insufficiency of evidence of any Disabling Conduct with which the Trustee Director has been charged; or
(3) in the absence of such a Final Decision, dismissal or withdrawal, a determination shall have been made that the Trustee Director has not engaged in Disabling Conduct: (i) by the court or other body approving the settlement or other disposition of the Proceeding; or (ii) based upon a review of the available facts with respect to the Proceeding, by, in the Independent Trustees’ sole discretion, by either the vote of a majority of a quorum of Independent Trustees Directors or by Independent Counsel in a written opinion.
Appears in 2 contracts
Sources: Indemnification Agreement (TCW Direct Lending LLC), Indemnification Agreement (TCW Funds Inc)
Conditions to Indemnification. The Trustee shall be indemnified pursuant to this Section 2 1 if either:
(1) the court or other body before which the Proceeding relating to the Trustee’s liability is brought shall have rendered a Final Decision on the merits, finding that the Trustee is not liable, has not engaged in liable by reason of Disabling Conduct, and/or Conduct or is entitled to indemnification;; or
(2) the Proceeding against the Trustee shall have been dismissed for insufficiency of evidence of any Disabling Conduct with which the Trustee has been charged; or
(3) in the absence of such a Final Decision, dismissal or withdrawal, a determination shall have been made that the Trustee has is not engaged in ineligible by reason of Disabling Conduct: (i) by the court or other body approving the settlement or other disposition of the Proceeding; or (ii) , based upon a review of the available facts with respect to the Proceedingfacts, by, in the Independent Trustees’ sole discretion, by either the vote of a majority of a quorum of Independent Trustees or by Independent Counsel in a written opinion, under the procedures set forth in Section 4.
Appears in 2 contracts
Sources: Indemnification Agreement (Pacific Funds), Indemnification Agreement (Pacific Select Fund)
Conditions to Indemnification. The Trustee shall be indemnified pursuant to this Section 2 1 if either:
(1) the The court or other body before which the Proceeding relating to the Trustee’s liability is brought shall have rendered a Final Decision on the merits, finding that the Trustee is not liable, has not engaged in liable by reason of Disabling Conduct, and/or Conduct or is entitled to indemnification;; or
(2) the The Proceeding against the Trustee shall have been dismissed for insufficiency of evidence of any Disabling Conduct with which the Trustee has been charged; or
(3) in In the absence of such a Final Decision, dismissal or withdrawalwithdraw, a determination shall have been made that the Trustee has is not engaged in ineligible by reason of Disabling Conduct: (i) by the court or other body approving the settlement or other disposition of the Proceeding; or (ii) , based upon a review of the available facts with respect to the Proceedingfacts, by, in the Independent Trustees’ sole discretion, by either the vote of a majority of a quorum of Independent Trustees or by Independent Counsel in a written opinion, under the procedure set forth in Section 4.
Appears in 1 contract
Conditions to Indemnification. The Trustee shall be indemnified pursuant to this Section 2 1 if either:
(1) the The court or other body before which the Proceeding relating to the Trustee’s liability is brought shall have rendered a Final Decision on the merits, finding that the Trustee is not liable, has not engaged in liable by reason of Disabling Conduct, and/or Conduct or is entitled to indemnification;; or
(2) the The Proceeding against the Trustee shall have been dismissed or withdrawn for insufficiency of evidence of any Disabling Conduct with which the Trustee has been charged; or
(3) in In the absence of such a Final Decision, dismissal or withdrawal, a determination shall have been made that the Trustee has is not engaged in ineligible by reason of Disabling Conduct: (i) by the court or other body approving the settlement or other disposition of the Proceeding; or (ii) , based upon a review of the available facts with respect to the Proceedingfacts, by, in the Independent Trustees’ sole discretion, by either the vote of a majority of a quorum of Independent Trustees or by Independent Counsel in a written opinion, under the procedures set forth in Section 4.
Appears in 1 contract
Conditions to Indemnification. The Trustee shall be indemnified pursuant to this Section 2 if either:
(1) the court or other body before which the Proceeding relating to the Trustee’s liability is brought shall have rendered a Final Decision final decision on the merits, finding that the Trustee is not liable, has is not engaged in liable by reason of Disabling Conduct, and/or is entitled to indemnification;
(2) the Proceeding against the Trustee shall have been dismissed for insufficiency of evidence of any Disabling Conduct with which the Trustee has been charged; or
(3) in the absence of such a Final Decisionfinal decision, dismissal or withdrawal, a determination shall have been made that the Trustee has is not engaged in liable by reason of Disabling Conduct: (i) by the court or other body approving the settlement or other disposition of the Proceeding; or (ii) , based upon a review of the available facts with respect to the Proceedingfacts, by, in the Independent Trustees’ sole discretion, by either the vote of a majority of a quorum of Independent Trustees or by Independent Counsel in a written opinion.
Appears in 1 contract
Conditions to Indemnification. The Trustee shall be indemnified pursuant to this Section 2 1 if either:
(1) the court or other body before which the Proceeding relating to the Trustee's liability is brought shall have rendered a Final Decision on the merits, finding that the Trustee is not liable, has not engaged in liable by reason of Disabling Conduct, and/or Conduct or is entitled to indemnification;; 01
(2) the Proceeding against the Trustee shall have been dismissed for insufficiency of evidence of any Disabling Conduct with which the Trustee has been charged; or01
(3) in the absence of such a Final Decision, dismissal or withdrawal, a determination shall have been made that the Trustee has is not engaged in ineligible by reason of Disabling Conduct: (i) by the court or other body approving the settlement or other disposition of the Proceeding; or (ii) , based upon a review of the available facts with respect to the Proceedingfacts, by, in the Independent Trustees’ sole discretion, by either the vote of a majority of a quorum of Independent Trustees or by Independent Counsel in a written opinion, under the procedures set forth in Section 4.
Appears in 1 contract
Sources: Reorganization Agreement (Pacific Funds Series Trust)
Conditions to Indemnification. The Trustee shall be indemnified pursuant to this Section 2 1 if either:
(1) the court or other body before which the Proceeding relating to the Trustee’s liability is brought shall have rendered a Final Decision on the merits, finding that the Trustee is not liable, has not engaged in liable by reason of Disabling Conduct, and/or Conduct or is entitled to indemnification;; or
(2) the Proceeding against the Trustee shall have been dismissed for insufficiency of evidence of any Disabling Conduct with which the Trustee has been charged; or
(3) in the absence of such a Final Decision, dismissal or withdrawal, a determination shall have been made that the Trustee has is not engaged in rendered ineligible by reason of Disabling Conduct: (i) by the court or other body approving the settlement or other disposition of the Proceeding; or (ii) , based upon a review of the available facts with respect to the Proceedingfacts, by, in the Independent Trustees’ sole discretion, by either the vote of a majority of a quorum of Non-Party Independent Trustees or by Independent Counsel (selected as provided for in Section 4(c)) in a written opinion, under the procedures set forth in Section 4.
Appears in 1 contract
Sources: Indemnification Agreement (Hotchkis & Wiley Funds /De/)
Conditions to Indemnification. The Trustee shall be indemnified pursuant to this Section 2 1 if either:
(1) the court or other body before which the Proceeding relating to the Trustee’s liability is brought shall have rendered a Final Decision on the merits, finding that the Trustee is not liable, has not engaged in liable by reason of Disabling Conduct, and/or Conduct or is entitled to indemnification;; or
(2) the Proceeding against the Trustee shall have been dismissed for insufficiency of evidence of any an Disabling Conduct with which the Trustee has been charged; or
(3) in the absence of such a Final Decision, dismissal or withdrawal, a determination shall have been made that the Trustee has is not engaged in ineligible by reason of Disabling Conduct: (i) by the court or other body approving the settlement or other disposition of the Proceeding; or (ii) , based upon a review of the available facts with respect to the Proceedingfacts, by, in the Independent Trustees’ sole discretion, by either the vote of a majority of a quorum of Independent Trustees or by Independent Counsel in a written opinion, under the procedures set forth in Section 4.
Appears in 1 contract