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Document Description
The document titled 'Letter of Indemnity - Shareholder to Company' is a formal letter that serves as an indemnity agreement between a shareholder and a company. The purpose of this document is to provide protection to the company in case the shareholder's share certificate is lost or accidentally destroyed. The letter begins with the sender's address and the current date.
The detailed introduction of the entire document explains that the share certificate issued to the sender (either an individual or a group) in respect of shares in the company has been lost or accidentally destroyed. The sender now intends to transfer the shares to a transferee, and in order for the company to approve the transfer for registration, the sender undertakes to indemnify the company against any actions, proceedings, demands, costs, claims, losses, and expenses that may arise in connection with the approval. The sender also agrees to deliver the share certificate for cancellation if it is ever recovered.
The document is then signed off with a closing statement and the name of the sender, either an individual or a representative of a company.
Each section of the document is described in detail, including the purpose of the letter, the circumstances leading to the need for indemnity, the obligations of the sender, and the consequences of non-compliance. The document is concise and clearly outlines the responsibilities of both parties involved.
How to use this document?
To use the 'Letter of Indemnity - Shareholder to Company' document, follow these steps:
1. Provide the necessary information: Fill in the recipient's name and address, as well as the current date.
2. Indicate the type of sender: Determine whether the sender is an individual or a company, and select the appropriate section of the document.
3. Explain the loss of the share certificate: If the sender is an individual, state that their share certificate has been lost or accidentally destroyed. If the sender is a company, state that the share certificate issued to them has been lost or accidentally destroyed.
4. Propose a transfer of shares: Mention the intention to transfer the shares to a transferee.
5. Undertake to indemnify the company: Agree to indemnify the company against any actions, proceedings, demands, costs, claims, losses, and expenses that may arise in connection with the approval of the transfer.
6. Promise to deliver the share certificate for cancellation: State that the share certificate will be delivered to the company for cancellation if it is ever recovered.
7. Sign off the letter: Include a closing statement and the name of the sender, either an individual or a representative of a company.
By following these steps, you can effectively use the 'Letter of Indemnity - Shareholder to Company' document to protect the company in case of a lost or destroyed share certificate.
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