Applicable Standard

Example Definitions of "Applicable Standard"
Applicable Standard. Means that the Indemnitee acted in good faith and in a manner that the Indemnitee reasonably believed to be in the best interests of the Corporation; except that in a criminal proceeding, the Indemnitee must also have had no reasonable cause to believe that the Indemnitee's conduct was unlawful. The termination of any Proceeding by judgment, order, settlement, conviction or upon a plea of nolo contendere or any equivalent procedure shall not, of itself, create any presumption, or establish,... that the Indemnitee did not satisfy the "Applicable Standard." View More
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