Common use of Failure to Assume Defense Clause in Contracts

Failure to Assume Defense. Failure by the Indemnifying Party to notify the Indemnitee of its election to assume the defense of any Third Party Claim within thirty (30) days after its receipt of notice thereof pursuant to Section 8.6(a) will be deemed a waiver by the Indemnifying Party of its right to assume the defense of such Third Party Claim. In such event, the Indemnitee may defend against such Third Party Claim in any manner it deems appropriate. The Indemnitee may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts in good faith and in a commercially reasonable manner.

Appears in 2 contracts

Sources: Unit Purchase Agreement (Argyle Security, Inc.), Unit Purchase Agreement (Argyle Security, Inc.)

Failure to Assume Defense. Failure by the Indemnifying indemnifying Party to notify the Indemnitee Beneficiary of its election to assume the defense of any Third Party Claim within thirty (30) days after its receipt of notice thereof pursuant to Section 8.6(a) will shall be deemed a waiver by the Indemnifying indemnifying Party of its right to assume the defense of such Third Party Claim. In such event, the Indemnitee Beneficiary may defend against such Third Party Claim in any manner it deems appropriate, at the cost and expense of the Indemnifying Party. The Indemnitee Beneficiary may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts reasonably and in good faith and in a commercially reasonable mannerfaith.

Appears in 2 contracts

Sources: Stock Purchase Agreement (Safety Kleen Corp/), Stock Purchase Agreement (Safety Kleen Corp/)

Failure to Assume Defense. Failure by the Indemnifying indemnifying Party to notify the Indemnitee of its election to assume the defense of any Third Party Claim within thirty (30) days after its receipt of notice thereof pursuant to Section 8.6(a) will 10.3.1 shall be deemed a waiver by the Indemnifying indemnifying Party of its right to assume the defense of such Third Party Claim. In such event, the Indemnitee may defend against such Third Party Claim in any manner it deems appropriate. The Indemnitee may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts in good faith and in a commercially reasonable manner.

Appears in 2 contracts

Sources: Asset Purchase Agreement (Gateway Energy Corp/Ne), Member Interest Purchase Agreement (Gateway Energy Corp/Ne)

Failure to Assume Defense. Failure by the Indemnifying indemnifying Party to notify the Indemnitee of its election to assume the defense of any Third Party Claim within thirty (30) days after its receipt of notice thereof pursuant to Section 8.6(a) will 5.3.1 shall be deemed a waiver by the Indemnifying indemnifying Party of its right to assume the defense of such Third Party Claim. In such event, the Indemnitee may defend against such Third Party Claim in any manner it deems appropriate. The Indemnitee may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts in good faith and in a commercially reasonable manner.

Appears in 1 contract

Sources: Member Interest Purchase Agreement (Gateway Energy Corp/Ne)

Failure to Assume Defense. Failure by the Indemnifying Party to notify the Indemnitee of its election to assume the defense of any Third Party Claim within thirty (30) days after its receipt of notice thereof pursuant to Section 8.6(a10.5(a) will be deemed a waiver by the Indemnifying Party of its right to assume the defense of such Third Party Claim. In such event, the Indemnitee may defend against such Third Party Claim in any manner that, in good faith, it deems appropriate. The Indemnitee may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts in good faith and in a commercially reasonable manner.

Appears in 1 contract

Sources: Merger Agreement (Exploration Co of Delaware Inc)

Failure to Assume Defense. Failure by the Indemnifying Party to notify the Indemnitee of its election to assume the defense of any Third Party Claim within thirty (30) days after its receipt of notice thereof pursuant to Section 8.6(a) will 11.3.1 shall be deemed a waiver by the Indemnifying Party of its right to assume the defense of such Third Party Claim. In such event, the Indemnitee may defend against such Third Party Claim in any manner it deems appropriate. The Indemnitee may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts in good faith and in a commercially reasonable manner.

Appears in 1 contract

Sources: Recapitalization Agreement (NPC International Inc)

Failure to Assume Defense. Failure by the Indemnifying Party indemnifying party to ------------------------- notify the Indemnitee of its election to assume the defense of any Third Party Claim within thirty (30) days after its receipt of notice thereof pursuant to Section 8.6(a) will 10.3.1 shall be deemed a waiver by the Indemnifying Party indemnifying party of its right to assume the defense of such Third Party Claim. In such event, event the Indemnitee may defend against such Third Party Claim in any manner it deems appropriate. The Indemnitee may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts in good faith and in a commercially reasonable manner.

Appears in 1 contract

Sources: Asset Purchase Agreement (Madison River Capital LLC)

Failure to Assume Defense. Failure by the Indemnifying indemnifying Party to notify the Indemnitee of its election to assume the defense of any Third Party Claim within thirty (30) days after its receipt of notice thereof pursuant to Section 8.6(a) will 9.3.1 shall be deemed a waiver by the Indemnifying indemnifying Party of its right to assume the defense of such Third Party Claim. In such event, the Indemnitee may defend against such Third Party Claim in any manner it deems appropriate. The Indemnitee may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts in good faith and in a commercially reasonable manner.

Appears in 1 contract

Sources: Limited Partnership Interest Purchase Agreement (Entertainment Properties Trust)

Failure to Assume Defense. Failure by the Indemnifying indemnifying ------------------------- Party to notify the Indemnitee of its election to assume the defense of any Third Party Claim within thirty (30) 30 calendar days after its receipt of notice thereof pursuant to Section 8.6(a) will shall be deemed a waiver by the Indemnifying indemnifying Party of its right to assume the defense of such Third Party Claim. In such event, the Indemnitee may defend against such Third Party Claim in any manner it deems appropriate. The Indemnitee may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts reasonably and in good faith and in a commercially reasonable mannerfaith.

Appears in 1 contract

Sources: Stock Purchase Agreement (GTS Duratek Inc)

Failure to Assume Defense. Failure by the Indemnifying Party Parties to notify the Indemnitee of its their election to assume the defense of any Third Party Claim within thirty (30) calendar days after its their receipt of notice thereof pursuant to Section 8.6(a9.4(a) will be deemed a waiver by the Indemnifying Party Parties of its their right to assume the defense of such Third Party Claim. In such event, the Indemnitee may defend against such Third Party Claim in any manner it deems appropriate. The Indemnitee may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts in good faith and in a commercially reasonable manner.

Appears in 1 contract

Sources: Asset Purchase Agreement (Precision Optics Corporation, Inc.)

Failure to Assume Defense. Failure by the Indemnifying Party to notify the Indemnitee of its election to assume the defense of any Third Party Claim within thirty (30) 30 calendar days after its receipt of notice thereof pursuant to Section 8.6(a) will 10.3.1 shall be deemed a waiver by the Indemnifying Party of its right to assume the defense of such Third Party Claim. In such event, the Indemnitee may defend against such Third Party Claim in any manner it deems appropriate. The Indemnitee may settle such Third Party Claim Claim, or consent to the entry of any judgment with respect thereto, provided that it acts in good faith and in a commercially reasonable manner.

Appears in 1 contract

Sources: Merger Agreement (Adac Laboratories)