Example of indemnification clause
WebSample Clauses. Indemnification - General. The Company shall indemnify, and advance Expenses to, Indemnitee (a) as provided in this Agreement and (b) otherwise to the maximum extent permitted by Maryland law in effect on the date hereof and as amended … Webrise to indemnity] ( ☐ in accordance with the _____ [Agreement title related to activity/event]) dated _____ (the “Activity”). NOW THEREFORE, for valuable consideration, the receipt of which is hereby acknowledged, Indemnitor and Indemnitee agree as follows: 1. Indemnification.
Example of indemnification clause
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WebClauses > Indemnification. Indemnity Obligation. If a third party brings an intellectual property infringement claim against [PARTY B] alleging that the Services infringe or misappropriate that party’s intellectual property rights, [PARTY A] will (a) defend [PARTY B] against such claim and (b) reimburse [PARTY B] for any damages that it ... WebMay 29, 2024 · An indemnification clause may include any, or all, of three distinct obligations, including to (1) indemnify, (2) defend, and (3) hold harmless the client. Indemnify means to reimburse your client following a loss. [printfriendly] Chapter on …
WebOct 31, 2024 · If there’s a likelihood for injuries, property damage, or other accidents to occur, the situation would likely benefit from an Indemnity Agreement. For example, parties might seek indemnity in the following scenarios: When a business or individual hires a contractor to perform a service; When buying or selling commercial real estate WebAn indemnification clause is often a necessity in construction agreements, and the business deal may not proceed without a clear picture of what each party's liabilities are. ... For example, if a product is defective, a worker could be injured. The indemnification clause protects the owner against a claim from the worker while the warranty ...
WebAug 21, 2024 · An example of a hold harmless clause that uses indemnity language is one stating that one party shall "indemnity, defend, and hold harmless" the other "from and against claims, damages, losses, and expenses, including but not limited to attorney's fees, arising out of or resulting from negligence or misconduct in relation to the work … WebIndemnification clause. Contract language allow ask yours to indemnify, guard, press hold an vendor harmless for injuries or damages that might appear during the course about the vendor’s work, even if it was caused by this vendor’s failure. To indemnify means you’ll pay where to vendor owes. Defending him means you’ll pay his legal costs.
Web(a) To the fullest extent permitted by law but subject to the limitations expressly provided in this Agreement, all Indemnitees shall be indemnified and held harmless by the Partnership from and against any and all losses, claims, damages, liabilities, joint or several, …
WebA breach of contract by one party; An action carried out; or. A party’s negligence. The triggering event is agreed upon by both parties and included in the contract. You may sometimes see an indemnity clause referred to as a hold harmless clause or an indemnity and hold harmless clause. hornbuckle sipp chargesWebNov 29, 2024 · In the majority of contracts, an indemnification clause exists to pay a party for harm or loss caused by the other party’s. The purpose is to transfer liability from one party to the other party. A civil action typically results from a factor within the indemnifying party’s control. Additionally, an indemnification clause will typically ... hornbuckle rd clarksville tnWebJun 8, 2024 · Indemnification clauses allow a contracting party to: Customize the amount of risk it is willing to undertake in each transaction and with every counterparty. Protect itself from damages and lawsuits that are more efficiently borne by the counterparty. For … hornbuckle scholarshipWebIndemnification Agreement. Contractor hereby agrees to indemnify and hold harmless the Owner, the State of Georgia and its departments, agencies and instrumentalities and all of their respective officers, members, employees and directors ( hereinafter collectively … hornbuckle sipp contact numberWebA breach of contract by one party; An action carried out; or. A party’s negligence. The triggering event is agreed upon by both parties and included in the contract. You may sometimes see an indemnity clause referred to as a hold harmless clause or an … hornbuckle sipp loginWebSample Clauses. Indemnification and Hold Harmless a) CONTRACTOR shall indemnify and hold LEA and its Board Members, administrators, employees, agents, attorneys, volunteers, and subcontractors (“LEA Indemnities ”) harmless against all liability, loss, damage and expense ( including reasonable attorneys ’ fees) resulting from or arising ... hornbuckle sipp propertyWebJul 13, 2024 · Indemnification Clause Overview. Indemnification clauses are agreements made within contracts that are used to shift liability between parties, indemnify, or not hold accountable, a party for certain acts for which they might otherwise be held accountable. Such clauses may allow for mutual indemnification, wherein both parties will … hornbuckle sipp literature