Indemnification of Participants in Shares Program Sample Clauses

Indemnification of Participants in Shares Program. CalTRUST shall indemnify and hold each Participant harmless from and against all claims and liabilities to which such Participant may become subject by reason of its being or having been a Participant in the Shares Program and shall reimburse such Participant for all legal and other expenses reasonably incurred by it in connection with any such claim or liability; provided, however, that: (a) such Participant was acting in accordance with all legal and policy requirements and investment objectives applicable to such Participant, including any limitations that the Participant has adopted or is subject to which are more restrictive than state law, (b) such indemnity or reimbursement shall be made from assets (or proceeds thereof or income therefrom) of the one or more Series of Shares of CalTRUST in respect of which such claim or liability arose and not from the assets (or proceeds or income therefrom) of any other Series of Shares of CalTRUST, and (c) no indemnification shall be made for any Participant’s negligence or willful misconduct. The rights accruing to a Participant under this Section 10.2 shall not exclude any other right to which such Participant may be lawfully entitled, nor shall anything herein contained restrict the right of CalTRUST to indemnify or reimburse a Participant in any appropriate situation even though not specifically provided herein.
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Related to Indemnification of Participants in Shares Program

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