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indemnity clause

usfwife

Active Member
According to the TNFINC YRCW Term sheet from the last vote it states:
"Indemity: Company would indemnify the Union if it is sued as a result of thie Term Sheet and related transactions."

So SOMEONE must have assumed there could be a lawsuit. And what exactly does this statement mean?
 

nightowl

Well-Known Member
so what that saying if i read this right is the company would pay the union for any losses in a court suit?
 

nightowl

Well-Known Member
and if yrcw were to lose this lawsuit, the union could get in line with all the other bill collectors. yrcw had nothing to lose by agreeing to this. it was all a bunch of smoke.
 
T

turboj

Guest
The onion is just another subsidiary of yrcw, just like new penn, etc. If this pos company has that kind of money why don't they bail out the pension. Maybe they should sell the rights and make a soap opera out of this mess. The ":****:ty days of our lives", "As the bull:****: turns", "General :****: Hospital" or my favorite, "The young and the stupid yes men"! I smell an emmy here!!!
 

third_day

Member
First you better explain to us what "indemnify the Union" means:)

From the term sheet:

To the maximum extent legally permissible, the Company would indemnify on reasonable terms and conditions TNFINC and its controlling persons, directors, officers, partners, affiliates, agents, representatives, advisors (legal and financial) and employees from and against all liabilities, losses, claims damages, actions, proceedings, investigations or threats thereof, including without limitation, all costs and expenses (including legal fees and expenses) incurred in connection with the defense thereof arising out of or relating to the execution, delivery or performance of this term sheet and the transactions contemplated hereby.
 

usfwife

Active Member
Matthew 5:44 But I tell you, love your enemies and pray for those who persecute you,

or....another word of advice:Love the people who treat you right and prey on the ones who don't.....
oh wait, I mean pray FOR the ones who don't. Yep that's it ;)
 
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