Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant to Section 9, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus. (b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement. (c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred. (d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 9 contracts
Sources: Securities Purchase Agreement (Versacom International Inc), Securities Purchase Agreement (Advanced Optics Electronics Inc), Securities Purchase Agreement (Advanced Optics Electronics Inc)
Indemnification and Contribution. (a) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9the terms of this Agreement, the Company will indemnify and hold harmless each Sellerand pay and reimburse, each officer seller of each Seller, each director of each Sellersuch Registrable Securities thereunder, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was were registered under the Securities Act pursuant to Section 9, hereto or any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or any violation or alleged violation of the Securities Act or any state securities or “blue sky” laws and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon the Company’s reliance on an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement Registration Statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9hereto, the Seller each seller of such Registrable Securities thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and Registration Statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon reliance on any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, hereto or any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, ; provided that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement Registration Statement or prospectus, ; and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion proceeds received by such seller from the sale of Registrable Securities covered by such Registration Statement. Notwithstanding the foregoing, the indemnity provided in this Section 8(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or expense which if such settlement is equal effected without the consent of such indemnified party and provided further, that the Company shall not be liable in any such case to the proportion extent that any such loss, claim, damage or liability (or action in respect thereof) arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission in such Registration Statement, which untrue statement or alleged untrue statement or omission or alleged omission is completely corrected in an amendment or supplement to the public offering price Registration Statement and the undersigned indemnitees thereafter fail to deliver or cause to be delivered such Registration Statement as so amended or supplemented prior to or concurrently with the sale of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunderperson asserting such loss, but not claim, damage or liability (or actions in any event to exceed respect thereof) or expense after the net proceeds received by Company has furnished the Seller from undersigned with the sale of Registrable Securities covered by such registration statementsame.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 8 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 8 if and to the extent the indemnifying party is materially prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 8 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, ; provided that if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded based upon written advice of its counsel that there may be reasonable defenses available to it which that are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registrable Securities exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 8 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 8 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.68; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Registrable Securities offered by the registration Registration statement bears to the public offering price of all securities offered by such registration Registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Registrable Securities offered by it pursuant to such registration statement; Registration statement and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f12(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 7 contracts
Sources: Registration Rights Agreement (Protea Biosciences Group, Inc.), Registration Rights Agreement (Protea Biosciences Group, Inc.), Registration Rights Agreement (Medovex Corp.)
Indemnification and Contribution. (a) In the event of a any registration of any of the Registrable Securities under the Securities Act pursuant to Section 9this Agreement, the Company will indemnify and hold harmless each Sellerthe seller of such Registrable Securities, each officer of each Seller, each director of each Sellerand its directors and officers, each underwriter of such Registrable Securities thereunder Securities, and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act Act, the Exchange Act, state securities or Blue Sky laws or otherwise, insofar in so far as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto such Registration Statement, and any document incorporated therein by reference or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, ; and the Company will reimburse the Sellersuch seller, each such underwriter and each such controlling person for any legal or any other expenses reasonably incurred by them such seller, underwriter or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged any untrue statement or omission made in such Registration Statement, preliminary prospectus or alleged omission so made prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by any or on behalf of such Sellerseller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectusthe preparation thereof.
(b) In the event of a any registration of any of the Registrable Securities under the Securities Act pursuant to Section 9this Agreement, the Seller each seller of Registrable Securities, severally and not jointly, will indemnify and hold harmless the Company, each of its directors, and officers and each underwriter (if any) and each person, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, each officer of the Company who signs the registration statement and each director of the Company, against all any losses, claims, damages or liabilities, joint or several, to which the Company Company, such directors and officers, underwriters or such officer or director controlling person may become subject under the Securities Act Act, Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in the registration statement any Registration Statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto the Registration Statement, or arise out of or are based upon the any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse if the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by or on behalf of such Seller seller, specifically for use in connection with the preparation of such registration statement or Registration Statement, prospectus, and amendment or supplement; provided, further, however, that the liability obligations of the Seller such seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is an amount equal to the proportion that the public offering price of the net proceeds to such seller from Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementas contemplated herein.
(c) Promptly Each party entitled to Indemnification under this Section 5 (the “Indemnified Party”) shall give notice to the party required to provide indemnification (the “Indemnifying Party”) promptly after receipt by an indemnified party hereunder of notice of the commencement such Indemnified Party has actual knowledge of any actionclaim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such indemnified party shallclaim or any litigation resulting therefrom; providing, if a that counsel for the Indemnifying Party, who shall conduct the defense of such claim in respect thereof is or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld); and, provided, further, that the failure of any Indemnified Party to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party give notice as provided herein shall not relieve it from any liability which it may have to such indemnified party other than the Indemnifying Party of its obligations under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and Agreement, except to the extent the indemnifying party Indemnifying Party is actually prejudiced by such omissionthe failure to give notice. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to The Indemnified Party may participate in and, to the extent it shall wish, to assume and undertake the such defense thereof with counsel satisfactory to at such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, 's expense; provided, however, thatthat the Indemnifying Party shall pay such expense if representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests between the Indemnified Party and any other party represented by such counsel in such proceeding. No Indemnifying Party, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such separate counsel claim or litigation, and other expenses related no Indemnified Party shall consent to entry of any judgment or settle such participation to be reimbursed by claim or litigation without the indemnifying party as incurredprior written consent of the Indemnifying Party.
(d) In order If the indemnification provided for herein is unavailable to provide for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Selleror insufficient to hold harmless an Indemnified Party hereunder, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in then each such case, the Company and the Seller will Indemnifying Party shall contribute to the aggregate amount paid or payable by such Indemnified Party as a result of the losses, claims, damages or liabilities (or actions or proceedings in respect thereof) referred to which they may be subject (after contribution from others) herein in such proportion so that as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented Indemnifying Party on the one hand and the Indemnified Party on the other in connection with the statements, omissions, actions, or inactions which resulted in such losses, claims, damages or liabilities. The relative fault of the Indemnifying Party and the Indemnified Party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the percentage that Indemnifying Party or the public offering price of its securities offered Indemnified Party, any action or inaction by any such party, and the registration statement bears parties' relative intent, knowledge, access to the public offering price of all securities offered by information, and opportunity to correct or prevent such registration statement, providedomission, howeveraction, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no or inaction. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. Promptly after receipt by an Indemnified Party hereunder of written notice of the commencement of any action, suit, proceeding, investigation, or threat thereof with respect to which a claim for contribution may be made against an Indemnifying Party hereunder, such Indemnified Party shall, if a claim for contribution in respect thereto is to be made against an Indemnifying Party, give written notice to the Indemnifying Party of the commencement thereof (if the notice specified herein has not been given with respect to such action); provided, however, that the failure to so notify the Indemnifying Party shall not relieve it from any obligation to provide contribution which it may have to any Indemnified Party hereunder, except to the extent that the Indemnifying Party is actually prejudiced by the failure to give notice. The parties hereto agree that it would not be just and equitable if contribution pursuant hereto were determined by pro rata allocation or by any other method of allocation which does not take account of equitable considerations referred to herein.
(e) The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 5 were determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the immediately preceding paragraph. Notwithstanding the provisions of this Section 5, contribution by any seller of Registrable Securities shall be limited in amount to the net amount of proceeds received by such seller from the sale of such Registrable Securities pursuant to such Registration Statement.
(f) If indemnification is available hereunder, the Indemnifying Parties shall indemnify each Indemnified Party to the fullest extent provided herein, without regard to the relative fault of said Indemnifying Party or Indemnified Party or any other equitable consideration provided for herein. The provisions hereof shall be in addition to any other rights to indemnification or contribution which any Indemnified Party may have pursuant to law or contract, shall remain in full force and effect regardless of any investigation made by or on behalf of any Indemnified Party, and shall survive the transfer of securities by any such party.
Appears in 7 contracts
Sources: Registration Rights Agreement (Amacore Group, Inc.), Registration Rights Agreement (Amacore Group, Inc.), Registration Rights Agreement (Amacore Group, Inc.)
Indemnification and Contribution. (a) In the event of a registration of any of the Registrable Securities Stock under the Securities Act pursuant to Section 9Sections 2 or 3, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each SellerRegistrable Stock thereunder, each underwriter of such Registrable Securities thereunder Stock thereunder, the managers, members, partners, officers, directors, agents, advisors and employees of each of them (collectively, the “Representatives”) and each other person, if any, who controls any or is alleged to control such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, settlement amounts paid, fines, costs (including, without limitation, attorneys’ fees) (individually, a “Loss” and collectively, the “Losses”), joint or several, to which the Sellersuch seller, or such underwriter or underwriter, controlling person or their respective Representatives may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities Losses (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was Stock were registered under the Securities Act pursuant to Section 9Sections 2 or 3, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or arises out of or are based upon any violation or alleged violation of any federal, state or other law, rule or regulation relating to any action or inaction in connection therewith, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability Loss or action; , provided, however, that the Company will not be liable in to any such case indemnitee if and to the extent that any such loss, claim, damage or liability Loss arises solely out of or is based solely upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information with respect to such indemnitee furnished by any such Seller, the underwriter or any such controlling person indemnitee in writing specifically for use in such registration statement or prospectus. The indemnification and contribution obligations of the Company contained in this Section 6 shall remain in full force and effect regardless of any investigation made by or on behalf of such indemnified person and shall survive any transfer of Registrable Stock.
(b) In the event of a registration of any of the Registrable Securities Stock under the Securities Act pursuant to Section 9Sections 2 or 3, the Seller each seller of such Registrable Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilitiesLosses, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities Losses (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Stock was registered under the Securities Act pursuant to Section 9Sections 2 or 3, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or actionLoss, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability Loss arises solely out of or is based solely upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense Loss which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Stock covered by such registration statementstatement (after deduction of all underwriters’ discounts and commissions and all other expenses and damages paid by such seller in connection with the registration in question). Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the Company or any such director, officer, underwriter or controlling person and shall survive any transfer of Registrable Stock.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 6 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 6 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 6 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred. No indemnifying party, in the defense of any such claim or litigation, shall, except with the consent of each indemnified party, consent to entry of any judgment or enter into any settlement unless such judgment or settlement includes as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation, includes only money damages (as opposed to equitable relief) and does not include any statement as to the fault or culpability of such indemnified party.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registrable Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.66; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the aggregate public offering price of its securities Registrable Stock offered by the registration statement bears to the aggregate public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price net proceeds received by it from the sale of all such securities Registrable Stock offered by it pursuant to such registration statementstatement (after deduction of all underwriters’ discounts and commissions and all other damages and expenses paid by such seller in connection with the registration in question); and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 7 contracts
Sources: Registration Rights Agreement (Communication Intelligence Corp), Registration Rights Agreement (Phoenix Venture Fund LLC), Registration Rights Agreement (Phoenix Venture Fund LLC)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant to Section 9, the The Company will indemnify and hold harmless each SellerUnderwriter, each officer of each Sellerits affiliates, each director of each Seller, each underwriter of such Registrable Securities thereunder directors and officers and each other person, if any, who controls any such Seller or underwriter Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, reasonable legal fees and other reasonable expenses incurred in connection with any suit, action or liabilitiesproceeding or any claim asserted, as such fees and expenses are incurred), joint or several, to which the Seller, or such underwriter or controlling person may become subject subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any an untrue statement or alleged untrue statement of any a material fact contained in any registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9Registration Statement, any preliminary prospectus, the Basic Prospectus, the Preliminary Prospectus, any Permitted Free Writing Prospectus, the Pricing Disclosure Package, the Prospectus or any free writing prospectus used by the Company other than a Permitted Free Writing Prospectus (or final prospectus contained thereinany such document, as from time to time amended, or any amendment deemed to be amended, supplemented or supplement thereofmodified), or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will shall not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in the Registration Statement, any preliminary prospectus, the Basic Prospectus, the Preliminary Prospectus, any Permitted Free Writing Prospectus, the Pricing Disclosure Package, the Prospectus or any free writing prospectus used by the Company other than a Permitted Free Writing Prospectus (or any such document, as from time to time amended, or deemed to be amended, supplemented or modified), in reliance upon and in conformity with written information pertaining furnished to the Company by any Underwriter through the Representatives expressly for use therein.
(b) Each Underwriter will, severally and not jointly, indemnify and hold harmless the Company, its directors, its officers and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, to the same extent as the indemnity set forth in paragraph (a) above, but only to the extent that such Selleruntrue statement or alleged untrue statement or omission or alleged omission was made in the Registration Statement, any preliminary prospectus, the Basic Prospectus, the Preliminary Prospectus, any Permitted Free Writing Prospectus, the Pricing Disclosure Package, the Prospectus or any free writing prospectus used by the Company other than a Permitted Free Writing Prospectus (or any such document, as suchfrom time to time amended, or deemed to be amended, supplemented or modified), in reliance upon and in conformity with written information furnished in writing to the Company by such Seller specifically Underwriter through the Representatives expressly for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementtherein.
(c) Promptly after receipt by an indemnified party hereunder under subsection (a) or (b) above of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunderunder such subsection, notify the indemnifying party in writing of the commencement thereof, ; but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omissionsubsection. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in therein and, to the extent that it shall wish, jointly with any other indemnifying party similarly notified, to assume and undertake the defense thereof thereof, with counsel satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party), and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) such subsection for any legal expenses of other counsel or any other expenses, in each case subsequently incurred by such indemnified party party, in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in investigation. In any such action include both the action, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the contrary; (ii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party; (iii) the indemnified party shall have reasonably concluded that there may be reasonable legal defenses available to it which that are different from or additional in addition to those available to the indemnifying party; or (iv) the named parties in any such action (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interest between them. It is understood and agreed that the indemnifying party shall not, in connection with any action or related action in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all indemnified parties, and that all such fees and expenses shall be reimbursed as they are incurred. Any such separate firm for any Underwriter, its affiliates, directors and officers and any control persons of such Underwriter shall be designated in writing by the Representatives and any such separate firm for the Company, its directors, its officers and any control persons of the Company shall be designated in writing by the Company. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the interests plaintiff, the indemnifying party agrees to indemnify each indemnified party from and against any loss or liability by reason of such settlement or judgment. No indemnifying party shall, without the written consent of the indemnified party, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified party is an actual or potential party to such action or claim) unless such settlement, compromise or judgment (i) includes an unconditional release of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense from all liability arising out of such actionaction or claim and (ii) does not include a statement as to or an admission of fault, with the reasonable expenses and fees culpability or a failure to act, by or on behalf of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurredany indemnified party.
(d) In order to provide If the indemnification provided for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it 8 is judicially determined unavailable to or insufficient to hold harmless an indemnified party under subsection (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeala) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (iib) contribution under the Securities Act may be required on the part above in respect of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate any losses, claims, damages or liabilities (or actions in respect thereof) referred to which they may be subject therein, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (after contribution from othersor actions in respect thereof) in such proportion so that as is appropriate to reflect the Seller is responsible only for the portion represented relative benefits received by the percentage that Company on the public one hand and the Underwriters on the other from the offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, providedNotes. If, however, thatthe allocation provided by the immediately preceding sentence is not permitted by applicable law or if the indemnified party failed to give the notice required under subsection (c) above, then each indemnifying party shall contribute to such amount paid or payable by such indemnified party in such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of the Company on the one hand and the Underwriters on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant equitable considerations. The relative benefits received by the Company on the one hand and the Underwriters on the other shall be deemed to be in the same proportion as the total net proceeds from the offering (before deducting expenses) received by the Company bear to the total underwriting discounts and commissions received by the Underwriters, in each case as set forth in the table on the cover page of the Prospectus. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company on the one hand or the Underwriters on the other and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Underwriters agree that it would not be just and equitable if contribution pursuant to this subsection (d) were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable considerations referred to above in this subsection (d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages or liabilities (or actions in respect thereof) referred to above in this subsection (d) shall be deemed to include any reasonable legal or other reasonable expenses incurred by such indemnified party in connection with any such caseaction or claim. Notwithstanding the provisions of this subsection (d), (A) the Seller will not no Underwriter shall be required to contribute any amount in excess of the public offering amount by which the total price of all such securities offered at which the Notes underwritten by it pursuant and distributed to the public were offered to the public exceeds the amount of any damages which such registration statement; and (B) no Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. The Underwriters’ obligations in this subsection (d) to contribute are several in proportion to their respective underwriting obligations and not joint.
Appears in 6 contracts
Sources: Underwriting Agreement (Cigna Corp), Underwriting Agreement (Cigna Corp), Underwriting Agreement (Cigna Corp)
Indemnification and Contribution. (a) In the event of a any registration of any Registrable Securities under the Securities Act pursuant to Section 9this Agreement, the Company will shall indemnify and hold harmless the Holder of such Registrable Securities, such Holder’s directors and officers, and each Seller, other person (including each officer of each Seller, each director of each Seller, each underwriter underwriter) who participated in the offering of such Registrable Securities thereunder and each other person, if any, who controls any such Seller Holder or underwriter such participating person within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Seller, such Holder or any such underwriter director or officer or participating person or controlling person may become subject under the Securities Act or otherwiseany other statute or at common law, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained contained, on the effective date thereof, in any registration statement Registration Statement under which such Registrable Securities was securities were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereofthereto, or arise out of or are based upon the omission or (ii) any alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will shall reimburse the Sellersuch Holder or such director, each such underwriter and each such officer or participating person or controlling person for any legal or any other expenses reasonably incurred by them such Holder or such director, officer or participating person or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; provided. Notwithstanding anything to the contrary set forth in this Section 5(a), however, that the Company will shall not be liable to indemnify any person in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement (1) any actual or alleged untrue statement or omission actual or alleged omission so either (x) made in such Registration Statement, preliminary prospectus, prospectus or amendment or supplement in reliance upon and in conformity with written information furnished to the Company by any such Seller, the underwriter or any such controlling person in writing Holder specifically for use therein or so furnished for such purposes by any underwriter or (y) that had been corrected in a preliminary prospectus, prospectus supplement or amendment which had been furnished to such registration Holder prior to any distribution of the document alleged to contain the untrue statement or prospectusomission to offerees or purchasers, (2) any offer or sale of Registrable Securities after receipt by such Holder of a Standstill Notice under Section 3(g) and prior to the delivery of the prospectus supplement or amendment contemplated by Section 3(g), or (3) the Holder’s failure to comply with the prospectus delivery requirements under the Securities Act or failure to distribute its Registrable Securities in a manner consistent with its intended plan of distribution as provided to the Company and disclosed in the Registration Statement. Notwithstanding the foregoing, the Company shall not be required to indemnify any person for amounts paid in settlement of any claim without the prior written consent of the Company, which consent shall not be unreasonably withheld. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Holder or such director, officer or participating person or controlling person, and shall survive the transfer of such securities by such Holder.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant Each Holder, by acceptance hereof, agrees to Section 9, the Seller will indemnify and hold harmless the Company, its directors and officers and each person who participated in such offering and each other person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, Act against all any losses, claims, damages or liabilities, joint or several, to which the Company or any such director or officer or director any such person may become subject under the Securities Act or otherwiseany other statute or at common law, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained (i) information in writing provided to the Company by the Holder specifically for use in the registration statement following documents and contained, on the effective date thereof, in any Registration Statement under which such Registrable Securities securities were registered under the Securities Act pursuant to Section 9at the request of the Holder, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereofthereto, (ii) Holder’s offer or sale of Registrable Securities after receipt by such Holder of a Standstill Notice under Section 3(g) and prior to the delivery of the prospectus supplement or amendment contemplated by Section 3(g), (iii) Holder’s failure to comply with the prospectus delivery requirements under the Securities Act or failure to distribute its Registrable Securities in a manner consistent with its intended plan of distribution as provided to the Company and disclosed in the Registration Statement, (iv) Holder’s failure to comply with Regulation M under the Exchange Act, or arise out (v) Holder’s failure to comply with any rules and regulations applicable because the Holder is, or is an Affiliate of, a registered broker-dealer. Notwithstanding the provisions of this paragraph (b) or are based upon paragraph (c) below, no Holder shall be required to indemnify any person pursuant to this Section 5 or to contribute pursuant to paragraph (c) below in an amount in excess of the amount of the aggregate net proceeds received by such Holder in connection with any such registration under the Securities Act.
(c) If the indemnification provided for in this Section 5 from the indemnifying party is unavailable to an indemnified party hereunder in respect of any losses, claims, damages, liabilities or expenses referred to therein, then the indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages, liabilities or expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and indemnified parties in connection with the actions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative fault of such indemnifying party and indemnified parties shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state therein a material fact required fact, has been made by, or relates to be stated therein information supplied by, such indemnifying party or necessary to make the statements therein not misleadingindemnified parties, and will reimburse the Company parties’ relative intent, knowledge, access to information and each opportunity to correct or prevent such officer action. The amount paid or director for payable by a party as a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of any investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded or proceeding. The parties hereto agree that there may it would not be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable if contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially 5(c) were determined (by the entry pro rata allocation or by any other method of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial allocation which does not take account of the last right of appeal) that such indemnification may not be enforced equitable considerations referred to in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity immediately preceding paragraph. No Person guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity Person who was not guilty of such fraudulent misrepresentation.
Appears in 6 contracts
Sources: Securities Purchase Agreement (Cicero Inc), Securities Purchase Agreement (Cicero Inc), Registration Rights Agreement (Cicero Inc)
Indemnification and Contribution. (a) In the event of a registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9Sections 3, 4 or 5, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Registrable Shares thereunder, each underwriter of such Registrable Securities Shares thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was Shares were registered under the Securities Act pursuant to Section 9Sections 3, 4 or 5, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in any such case if and to the extent that (1) any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.prospectus or (2) the prospectus relating to such registration shall have been amended or supplemented and copies, as so amended or supplemented, shall have been furnished to such seller of Registrable Securities prior to the confirmation of any sales of Registrable Securities and such seller did not, at or prior to the confirmation of the sale of Regsitrable Securities deliver such prospectus to the purchaser of such Registrable Securities if such applicable untrue statement or omission of a material fact contained in a prospectus was corrected in the prospectus so amend or supplemented..
(b) In the event of a registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9Sections 3, the Seller 4 or 5, each seller of such Registrable Shares thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities Shares were registered under the Securities Act pursuant to Section 9Sections 3, 4 or 5, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Shares covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 8 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 8 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 8 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registrable Shares exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 8 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 8 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.68; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Registrable Shares offered by the registration statement bears to the public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Registrable Shares offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 4 contracts
Sources: Registration Rights Agreement (Oncure Medical Corp), Registration Rights Agreement (Oncure Medical Corp), Registration Rights Agreement (Deshmukh Abhijit)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant The Company agrees to Section 9, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder the Underwriter and each other person, if any, person who controls any such Seller or underwriter the Underwriter within the meaning of either Section 15 of the Securities Act, Act or Section 20 of the Exchange Act against any and all losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise arising out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in the Registration Statement for the registration of the Notes as originally filed or in any registration statement under which such Registrable Securities was registered under amendment thereof, or in the Act pursuant to Section 9Basic Prospectus, any preliminary prospectus Preliminary Final Prospectus, the Final Prospectus, any Issuer Free Writing Prospectus or final prospectus contained therein, or in any amendment thereof or supplement thereofthereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will agrees to reimburse the Seller, each such underwriter and each such controlling person indemnified party to the extent set forth below, as incurred, for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with written information pertaining to such Seller, as such, furnished in writing to the Company by such Seller the Underwriter specifically for use therein (it being understood and agreed that the only such information furnished by the Underwriter consists of such information described as such in such registration statement or prospectusthe Underwriter Blood Letter). This indemnity agreement will be in addition to any liability which the Company may otherwise have.
(b) The Underwriter agrees to indemnify and hold harmless the Company, each of its directors, each of its officers who signs the Registration Statement, and providedeach person who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, furtherto the same extent as the foregoing indemnity from the Company to the Underwriter, however, but only with reference to written information relating to the Underwriter furnished to the Company by the Underwriter for use in the preparation of the documents referred to in the foregoing indemnity (it being understood and agreed that the liability of the Seller hereunder shall be limited to the proportion of any only such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold information furnished by the Seller under Underwriter consists of such registration statement bears information described as such in the Underwriter Blood Letter). This indemnity agreement will be in addition to any liability which the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementUnderwriter may otherwise have.
(c) Promptly after receipt by an indemnified party hereunder under this Section 7 of notice of the commencement of any actionaction (including any governmental investigation), such indemnified party shallwill, if a claim in respect thereof is to be made against the indemnifying party hereunderunder clause (a) or (b) of this Section 7, notify the indemnifying party in writing of the commencement thereof, ; but the omission so to notify the indemnifying party shall will not relieve it from any liability which it may have to such any indemnified party other otherwise than under clause (a) or (b) of this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission7. In case any such action shall be is brought against any indemnified party party, and it shall notify notifies the indemnifying party of the commencement thereof, the indemnifying party shall will be entitled to participate in andtherein, and to the extent that it shall wish, jointly, with any other indemnifying party similarly notified, to assume and undertake the defense thereof thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, andbe counsel to the indemnifying party). In any such proceeding, after notice from any indemnified party shall have the right to obtain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party to such and the indemnified party shall have mutually agreed to the retention of its election so such counsel or (ii) the named parties to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action proceeding (including any impleaded parties) include both the indemnified party and the indemnifying party and representation of both parties by the same counsel would be inappropriate due to actual or potential conflicts of interests between them. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate identified firm (in addition to any identified local counsel) for all such indemnified parties and that all such fees and expenses shall be reimbursed as they are incurred. Such firm shall be designated in writing by the Underwriter in the case of parties to be indemnified pursuant to paragraph (a) of this Section 7 and by the Company in the case of parties to be indemnified pursuant to paragraph (b) of this Section 7. An indemnifying party shall not be liable for any settlement of any proceeding effected without its prior written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from and against any loss or additional to those available to the liability by reason of such settlement or judgment. No indemnifying party or if shall, without the interests prior written consent of the indemnified party reasonably may (which consent shall not be deemed unreasonably withheld or delayed), effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (i) includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such proceeding and (ii) does not include a statement as to, or an admission of, fault, culpability or a failure to conflict with the interests act by or on behalf of the indemnifying indemnified party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order To the extent the indemnification provided for in Section 7(a) or 7(b) hereof is unavailable to provide for just and equitable contribution an indemnified party or insufficient in the event respect of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities referred to which they may be subject therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (after contribution from othersi) in such proportion so that as is appropriate to reflect the Seller is responsible only for the portion represented relative benefits received by the percentage Company, on the one hand, and the Underwriter, on the other hand, from the offering of such Notes or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company, on the one hand, and the Underwriter, on the other hand, in connection with the statements or omissions that the public offering price of its securities offered resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the registration statement bears Company, on the one hand, and the Underwriter, on the other hand, in connection with the offering of such Notes shall be deemed to be in the same respective proportions as the total net proceeds from the offering of such Notes (before deducting expenses) received by the Company bear to the public offering price total discounts and commissions received by the Underwriter in respect thereof. The relative fault of all securities offered the Company, on the one hand, and the Underwriter, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or by the Underwriter and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.
(e) The Company and the Underwriter agree that it would not be just or equitable if contribution pursuant to Section 7(d) hereof were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to in Section 7(d) hereof. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 7(d) hereof shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such registration statement, provided, however, that, indemnified party in connection with investigating or defending any such caseaction or claim. Notwithstanding the provisions of this Section 7, (A) the Seller will Underwriter shall not be required to contribute any amount in excess of the amount by which the total price at which the Notes referred to in Section 7(d) hereof that were offered and sold to the public offering price through the Underwriter exceeds the amount of all any damages that the Underwriter has otherwise been required to pay by reason of such securities offered by it pursuant to such registration statement; and (B) no untrue or alleged untrue statement or omission or alleged omission. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11 (f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 4 contracts
Sources: Underwriting Agreement (Wells Fargo & Company/Mn), Underwriting Agreement (Wells Fargo & Company/Mn), Underwriting Agreement (Wells Fargo & Company/Mn)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 4, 5 or 6, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9Sections 4, the Seller 5 or 6, each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Restricted Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 9 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.69; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Restricted Stock offered by the registration statement bears to the public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Restricted Stock offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 4 contracts
Sources: Registration Rights Agreement (SALARY.COM, Inc), Registration Rights Agreement (Allaire Corp), Registration Rights Agreement (Allaire Corp)
Indemnification and Contribution. (a) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9the terms of this Agreement, the Company will indemnify and hold harmless each Sellerand pay and reimburse, each officer seller of each Seller, each director of each Sellersuch Registrable Securities thereunder, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act Act, the Exchange Act, state securities, or “blue sky” laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was were registered under the Securities Act pursuant to Section 9, hereto or any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or any violation or alleged violation of the Securities Act, the Exchange Act, any state securities or “blue sky” laws and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon the Company’s reliance on an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9hereto, the Seller each seller of such Registrable Securities thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act Act, the Exchange Act, state securities, “blue sky” laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon reliance on any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, hereto or any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, ; provided that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, ; and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion net proceeds received by such seller from the sale of Registrable Securities covered by such Registration Statement. Notwithstanding the foregoing, the indemnity provided in this Section 8(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or expense which if such settlement is equal effected without the consent of such indemnified party and provided further, that the Company shall not be liable in any such case to the proportion extent that any such loss, claim, damage or liability (or action in respect thereof) arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission in such Registration Statement, which untrue statement or alleged untrue statement or omission or alleged omission is completely corrected in an amendment or supplement to the public offering price registration statement and the undersigned indemnitees thereafter fail to deliver or cause to be delivered such registration statement as so amended or supplemented prior to or concurrently with the sale of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunderperson asserting such loss, but not claim, damage or liability (or actions in any event to exceed respect thereof) or expense after the net proceeds received by Company has furnished the Seller from undersigned with the sale of Registrable Securities covered by such registration statementsame.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 8 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 8 if and to the extent the indemnifying party is materially prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 6 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, ; provided that if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded based upon written advice of its counsel that there may be reasonable defenses available to it which that are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registrable Securities exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 8 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 8 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.68; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Registrable Securities offered by the registration Registration statement bears to the public offering price of all securities offered by such registration Registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Registrable Securities offered by it pursuant to such registration statement; Registration statement and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f12(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 4 contracts
Sources: Registration Rights Agreement (Hochman David P), Registration Rights Agreement (Hochman David P), Registration Rights Agreement (Hochman Carole S)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 4 or 5, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4 or 5, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9Sections 4 or 5, the Seller each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4 or 5, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Restricted Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 9 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.69; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) as is appropriate to reflect the relative fault of the Company and such holder in connection with the statements or omissions which resulted in such proportion so losses, claims, damages or liabilities, as well as the relative benefit received by the Company and such holder as a result of the offering in question, it being understood that the Seller is responsible only for the portion represented by the percentage parties acknowledge that the public offering price overriding equitable consideration to be given effect in connection with this provision is the ability of its securities offered one party or the other to correct the statement or omission which resulted in such losses, claims, damages or liabilities, and that it would not be just and equitable if contribution pursuant hereto were to be determined by pro rata allocation or by any other method of allocation which does not take into consideration the registration statement bears to the public offering price of all securities offered by such registration statement, foregoing equitable considerations; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Restricted Stock offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 4 contracts
Sources: Merger Agreement (Edison Venture Fund Ii Lp), Merger Agreement (Perkin Elmer Corp), Merger Agreement (Strategic Diagnostics Inc/De/)
Indemnification and Contribution. (a) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9the terms of this Agreement, the Company will indemnify and hold harmless each Sellerand pay and reimburse, each officer seller of each Seller, each director of each Sellersuch Registrable Securities thereunder, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was were registered under the Securities Act pursuant to Section 9, hereto or any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or any violation or alleged violation of the Securities Act or any state securities or blue sky laws and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon the Company's reliance on an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement Registration Statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9hereto each seller of such Registrable Securities thereunder, the Seller severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and Registration Statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon reliance on any untrue statement or alleged untrue statement of any material fact contained in the registration statement Registration Statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, hereto or any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement Registration Statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion proceeds received by such seller from the sale of Registrable Securities covered by such Registration Statement. Notwithstanding the foregoing, the indemnity provided in this Section 6(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or expense which if such settlement is equal effected without the consent of such indemnified party and provided further, that the Company shall not be liable in any such case to the proportion extent that any such loss, claim, damage or liability (or action in respect thereof) arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission in such Registration Statement, which untrue statement or alleged untrue statement or omission or alleged omission is completely corrected in an amendment or supplement to the public offering price Registration Statement and the undersigned indemnitees thereafter fail to deliver or cause to be delivered such Registration Statement as so amended or supplemented prior to or concurrently with the sale of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunderperson asserting such loss, but not claim, damage or liability (or actions in any event to exceed respect thereof) or expense after the net proceeds received by Company has furnished the Seller from undersigned with the sale of Registrable Securities covered by such registration statementsame.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 6 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 6 if and to the extent the indemnifying party is materially prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 6 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, that if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded based upon written advise of its counsel that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registrable Securities exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.66; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Registrable Securities offered by the registration statement Registration Statement bears to the public offering price of all securities offered by such registration statementRegistration Statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Registrable Securities offered by it pursuant to such registration statement; Registration Statement and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f12(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 4 contracts
Sources: Registration Rights Agreement (Versadial, Inc.), Registration Rights Agreement (Agfeed Industries, Inc), Registration Rights Agreement (Agfeed Industries, Inc)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 4, 5 or 6, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse each such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in reliance upon and in conformity with information furnished by any such seller, any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus; provided further, that the Company shall not be required to indemnify any person against any liability arising from any untrue or misleading statement or omission contained in any preliminary prospectus if such deficiency is corrected in the final prospectus or for any liability which arises out of the failure of any person to deliver a prospectus as required by the Securities Act regardless of any investigation made by or on behalf of such indemnified party and shall survive transfer of such securities by such seller.
(b) In the event of a registration of any of the Restricted Stock under the Securities Act pursuant to Sections 4, 5 or 6, each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless each other seller of Restricted Stock, the Company, each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, to which the Company, each other seller of Restricted Stock or such officer, director, underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Restricted Stock was registered under the Securities Act pursuant to Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the SellerCompany, each such underwriter other seller of Restricted Stock and each such officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Restricted Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 9 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.69; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Restricted Stock offered by the registration statement bears to the public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Restricted Stock offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 3 contracts
Sources: Investor Rights Agreement, Investor Rights Agreement (Demandware Inc), Investor Rights Agreement (Demandware Inc)
Indemnification and Contribution. (a) In the event of a the registration of any Registrable Securities under the Securities Act pursuant to Section 93, the Company will indemnify and hold harmless the Holder and each Seller, each officer other seller of each Seller, each director of each Sellersuch Shares and Registrable Securities thereunder, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was were registered under the Securities Act pursuant to Section 93, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration on behalf of the Holder of any of the Registrable Securities under the Securities Act pursuant to Section 93, the Seller Holder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were was registered under the Securities Act pursuant to Section 93, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller Holder will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, the Holder furnished in writing to the Company by such Seller the Holder specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller Holder hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering offering, price of the Registrable Securities shares sold by the Seller Holder under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller Holder from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the the. commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 6 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 6 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 6 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the SellerHolder exercising rights under this Agreement, or any controlling person of the SellerHolder, makes a claim for indemnification pursuant to this Section 9.6 6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or to the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of any the Seller Holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.66; then, and in each such case, the Company and the Seller Holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller Holder is responsible only for the portion represented by the percentage that the public offering price price, if any, of its securities Registrable Securities offered by the registration statement bears to the public offering price price, if any, of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller Holder will not be required ruled to contribute any amount in excess of the public offering price price, if any, of all such securities Registrable Securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
(e) No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement, compromise or consent to the entry of judgment in any pending or threatened action, suit or proceeding in respect to which any indemnified party is or could have been a party and indemnity was or could have been sought hereunder by such indemnified party, unless such settlement, compromise or consent (x) includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such action, suit or proceeding and (y) does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party.
Appears in 3 contracts
Sources: Investor Rights Agreement (GlenRose Instruments Inc.), Investor Rights Agreement (GlenRose Instruments Inc.), Investor Rights Agreement (Blum Strategic GP IV, L.L.C.)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities Shares under the Securities Act pursuant to Section 9Sections 4, 5 or 6, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each SellerRegistrable Shares thereunder, each underwriter of such Registrable Securities Shares thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was Shares were registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein in light of the circumstances under which they were made not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectusprospectus and, provided, further, that with respect to any untrue statement or alleged untrue statement in or omission or alleged omission from any registration statement the indemnity agreement contained in this subsection (a) shall not inure to the benefit of any holder of Registrable Shares, any underwriter or any controlling person of such holder from whom the person asserting any such losses, claims, damages or liabilities purchased the Registrable Shares concerned, to the extent that a registration statement relating to such Registrable Shares was required to be delivered by such holder, underwriter or controlling person under the Securities Act in connection with such purchase and any such loss, claim, damage or liability results from the fact that there was not sent or given to such person, at or prior to the written confirmation of the sale of such Registrable Shares to such person, a copy of the final registration statement or prospectus if the Company had previously furnished copies thereof to such holder, underwriter or controlling person.
(b) In the event of a registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9Sections 4, the Seller 5 or 6, each seller of Registrable Shares thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities Shares were registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein in light of the circumstances under which they were made not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Shares covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 9 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registrable Shares exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.69; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Registrable Shares offered by the registration statement bears to the public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Registrable Shares offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 3 contracts
Sources: Investor Rights Agreement (Versant Ventures II LLC), Investor Rights Agreement (Helicos Biosciences Corp), Investor Rights Agreement (Helicos Biosciences Corp)
Indemnification and Contribution. (a) In The Company and the event of a registration of any Registrable Securities under the Securities Act pursuant Guarantor, jointly and severally, agree to Section 9, the Company will indemnify and hold harmless each SellerUnderwriter, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller or underwriter Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act, each broker dealer affiliate of any Underwriter and each of their respective officers and directors from and against any and all losses, claims, damages or and liabilities, joint or several, to which the Seller, or such underwriter or controlling person Underwriter may become subject subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any an untrue statement or alleged untrue statement of any a material fact contained in the Registration Statement or any registration statement under which such Registrable Securities was registered amendment thereof, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus as defined in Rule 433(h) under the Act Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, including the final term sheet prepared and filed pursuant to Section 96(i), any preliminary prospectus or final prospectus contained therein, the Prospectus or any amendment or supplement thereofthereto, or arise out of or are based upon the caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein therein, in the light of the circumstances under which they were made, not misleading, and will reimburse the Seller, each such underwriter and each such controlling person Underwriter for any legal or other expenses reasonably incurred by them such Underwriter in connection with investigating or defending any such loss, claim, damage, liability action or actionclaim as such expenses are incurred; provided, however, that the Company will and the Guarantor shall not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, including the final term sheet prepared and filed pursuant to Section 5(i), or the Prospectus or any amendment or supplement thereto, in reliance upon and in conformity with written information pertaining to such Seller, as such, furnished in writing to the Company or the Guarantor by any Underwriter through the Representatives expressly for use therein.
(b) Each Underwriter, severally and not jointly, agrees to indemnify and hold harmless the Company, the Guarantor, their respective directors and officers and each person, if any, who controls the Company or the Guarantor within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act from and against any and all losses, claims, damages and liabilities, to which the Company or the Guarantor may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, including the final term sheet prepared and filed pursuant to Section 5(i), or the Prospectus or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act or the Prospectus or any amendment or supplement thereto, in reliance upon and in conformity with written information furnished to the Company or the Guarantor by such Seller specifically Underwriter through the Representatives expressly for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementtherein.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action proceeding (including any governmental investigation) shall be brought against instituted involving any person in respect of which indemnity may be sought pursuant to subsections (a) or (b) above, such person (the “indemnified party and it party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party party”) in writing and the indemnifying party, upon request of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from shall retain counsel reasonably satisfactory to the indemnifying indemnified party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonable fees and disbursements of such counsel related to such proceeding. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available mutually agreed to it which are different from the retention of such counsel or additional (ii) the named parties to those available to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all such indemnified parties and that all such fees and expenses shall be reimbursed as they are incurred. Such firm shall be designated in writing by (i) the Representatives, in the case of the parties indemnified pursuant to Section 9(a) and (ii) by the Guarantor, in the case of parties indemnified pursuant to Section 9(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the interests plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. No indemnifying party shall, without the prior written consent of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the effect any settlement of any pending or threatened proceeding in respect of which any indemnified parties shall party is or could have the right to select one separate counsel been a party and to assume indemnity could have been sought hereunder by such legal defenses and otherwise to participate in the defense indemnified party, unless such settlement (x) includes an unconditional release of such action, with indemnified party from all liability on claims that are the reasonable expenses and fees subject matter of such separate counsel proceeding and other expenses related (y) does not include any statement as to such participation any admission of fault, culpability or failure to be reimbursed act by the indemnifying party as incurredor on behalf of any indemnified person.
(d) In order To the extent the indemnification provided for in Section 9(a) or 9(b) is unavailable to provide for just and equitable contribution an indemnified party or insufficient in the event respect of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities referred to which they may be subject therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (after contribution from othersi) in such proportion so that as is appropriate to reflect the Seller is responsible only for the portion represented relative benefits received by the percentage Company and the Guarantor on the one hand and the Underwriters on the other hand from the offering of the Securities or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company and the Guarantor on the one hand and of the Underwriters on the other hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the public Company and the Guarantor on the one hand and the Underwriters on the other hand in connection with the offering of the Securities shall be deemed to be in the same respective proportions as the net proceeds from the offering of the Securities (before deducting expenses) received by the Company and the Guarantor and the total discounts and commissions received by the Underwriters, in each case as set forth herein, bear to the aggregate offering price of its securities offered the Securities. The relative fault of the Company and the Guarantor on the one hand and of the Underwriters on the other hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the registration Company and the Guarantor on the one hand or by the Underwriters on the other and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement bears or omission. The Underwriters’ respective obligations to contribute pursuant to this Section are several in proportion to the public offering price respective principal amount of all securities offered Securities they have purchased hereunder, and not joint.
(e) The Company, the Guarantor and the Underwriters agree that it would not be just and equitable if contribution pursuant to subsection (d) were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to above in subsection (d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages or liabilities referred to above in subsection (d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such registration statement, provided, however, that, indemnified party in connection with investigating or defending any such caseaction or claim. Notwithstanding the provisions of subsection (d), (A) the Seller will not no Underwriter shall be required to contribute any amount in excess of the public offering amount by which the total price of all such securities offered at which the Securities purchased by it pursuant and distributed to investors were offered to investors exceeds the amount of any damages that such registration statement; and (B) no Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.
Appears in 3 contracts
Sources: Underwriting Agreement (Tyco International LTD), Underwriting Agreement (Tyco International LTD /Ber/), Underwriting Agreement (Tyco International LTD /Ber/)
Indemnification and Contribution. (ai) In the event of a any registration of any Registrable Securities of the Shares under the Securities Act pursuant to this Section 98, the Company will shall indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller or underwriter within the meaning of the Securities ActWarner, against any losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter or controlling person Warner may become subject under the Securities Act or otherwiseany other statute or at common law, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (1) any untrue statement or alleged untrue statement of any material fact contained contained, on the effective date thereof, in any registration statement Registration Statement under which such Registrable Securities was securities were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereofthereto, or arise out of or are based upon the omission or (2) any alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will shall reimburse the Seller, each such underwriter and each such controlling person Warner for any legal or any other expenses reasonably incurred by them Warner in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will shall not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an any alleged untrue statement or alleged untrue statement omission made in such Registration Statement, preliminary prospectus, prospectus or omission amendment or alleged omission so made supplement in reliance upon and in conformity with written information regarding Warner or his stock furnished to the Company by any such Seller, the underwriter or any such controlling person in writing Warner specifically for use therein or so furnished for such purposes by any underwriter. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of Warner, and shall survive the transfer of such registration statement or prospectussecurities by Warner.
(bii) In the event of a registration of any of the Registrable Securities under the Act pursuant Warner by acceptance hereof, agrees to Section 9, the Seller will indemnify and hold harmless the Company, its directors and officers and each other person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, Act against all any losses, claims, damages or liabilities, joint or several, to which the Company or any such director or officer or director any such person may become subject under the Securities Act or otherwiseany other statute or at common law, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement information regarding Warner or alleged untrue statement of any material fact contained his stock in writing provided to the Company by Warner specifically for use in the registration statement following documents and contained, on the effective date thereof, in any Registration Statement under which such Registrable Securities securities were registered under the Securities Act pursuant to Section 9at the request of Warner, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereofthereto.
(iii) If the indemnification provided for in this Section 8 from the indemnifying party is unavailable to an indemnified party hereunder in respect of any losses, claims, damages, liabilities or arise out expenses referred to therein, then the indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or are based upon payable by such indemnified party as a result of such losses, claims, damages, liabilities or expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and indemnified parties in connection with the actions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative fault of such indemnifying party and indemnified parties shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state therein a material fact required fact, has been made by, or relates to be stated therein information supplied by such indemnifying party or necessary to make the statements therein not misleadingindemnified parties, and will reimburse the Company parties' relative intent, knowledge, access to information and each opportunity to correct or prevent such officer action. The amount paid or director for payable by a party as a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of any investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurredproceeding.
(div) In order to provide for The parties hereto agree that it would not be just and equitable if contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially 8(c) were determined (by the entry pro rata allocation or by any other method of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial allocation which does not take account of the last right of appeal) that such indemnification may not be enforced equitable considerations referred to in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling immediately preceding paragraph. No person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 3 contracts
Sources: Stock Option Agreement (Entertainment Inc), Stock Option Agreement (Entertainment Inc), Stock Option Agreement (Entertainment Inc)
Indemnification and Contribution. (a) a. In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 2, 3 or 4, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 2, 3 or 4, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus. It is agreed that the indemnity agreement contained in this Section 7(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld or delayed).
(b) b. In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9Sections 2, the Seller 3 or 4, each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 2, 3 or 4, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited not in any event to exceed the proportion proceeds received by such seller from the sale of Restricted Stock covered by such registration statement. It is agreed that the indemnity agreement contained in this Section 7(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or expense action if such settlement is effected without the consent of seller hereunder (which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but consent shall not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementbe unreasonably withhold or delayed).
(c) c. Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 7 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 7 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 7 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests interest of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) d. In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 7 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 7 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.67; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Restricted Stock offered by the registration statement bears to the public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Restricted Stock offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning remaining of Section 10(f9(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 3 contracts
Sources: Registration Rights Agreement (Speedemissions Inc), Registration Rights Agreement (Speedemissions Inc), Registration Rights Agreement (Speedemissions Inc)
Indemnification and Contribution. (a) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9the terms of this Agreement, the Company will indemnify and hold harmless each Sellerand pay and reimburse, each officer seller of each Seller, each director of each Sellersuch Registrable Securities thereunder, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was were registered under the Securities Act pursuant to Section 9, hereto or any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or any violation or alleged violation of the Securities Act or any state securities or “blue sky” laws and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon the Company’s reliance on an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement Registration Statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9hereto, the Seller each seller of such Registrable Securities thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and Registration Statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon reliance on any untrue statement or alleged untrue statement of any material fact contained in the registration statement Registration Statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, hereto or any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, ; provided that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement Registration Statement or prospectus, ; and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion proceeds received by such seller from the sale of Registrable Securities covered by such Registration Statement. Notwithstanding the foregoing, the indemnity provided in this Section 6(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or expense which if such settlement is equal effected without the consent of such indemnified party and provided further, that the Company shall not be liable in any such case to the proportion extent that any such loss, claim, damage or liability (or action in respect thereof) arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission in such Registration Statement, which untrue statement or alleged untrue statement or omission or alleged omission is completely corrected in an amendment or supplement to the public offering price Registration Statement and the undersigned indemnitees thereafter fail to deliver or cause to be delivered such Registration Statement as so amended or supplemented prior to or concurrently with the sale of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunderperson asserting such loss, but not claim, damage or liability (or actions in any event to exceed respect thereof) or expense after the net proceeds received by Company has furnished the Seller from undersigned with the sale of Registrable Securities covered by such registration statementsame.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 6 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 6 if and to the extent the indemnifying party is materially prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 6 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, ; provided that if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded based upon written advice of its counsel that there may be reasonable defenses available to it which that are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registrable Securities exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.66; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Registrable Securities offered by the registration statement Registration Statement bears to the public offering price of all securities offered by such registration statementRegistration Statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Registrable Securities offered by it pursuant to such registration statement; Registration Statement and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f12(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 3 contracts
Sources: Registration Rights Agreement (Nova Lifestyle, Inc.), Registration Rights Agreement (Nova Lifestyle, Inc.), Registration Rights Agreement (Nova Lifestyle, Inc.)
Indemnification and Contribution. (ai) In the event of a any registration of any Registrable Securities of the Shares under the Securities Act pursuant to this Section 9, the Company will shall indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller or underwriter within the meaning of the Securities ActWarner, against any losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter or controlling person Warner may become subject under the Securities Act or otherwiseany other statute or at common law, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (1) any untrue statement or alleged untrue statement of any material fact contained contained, on the effective date thereof, in any registration statement Registration Statement under which such Registrable Securities was securities were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereofthereto, or arise out of or are based upon the omission or (2) any alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will shall reimburse the Seller, each such underwriter and each such controlling person Warner for any legal or any other expenses reasonably incurred by them Warner in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will shall not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an any alleged untrue statement or alleged untrue statement omission made in such Registration Statement, preliminary prospectus, prospectus or omission amendment or alleged omission so made supplement; in reliance upon and in conformity with written information regarding Warner or his stock furnished to the Company by any such Seller, the underwriter or any such controlling person in writing Warner specifically for use therein or so furnished for such purposes by any underwriter. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of Warner, and shall survive the transfer of such registration statement or prospectussecurities by Warner.
(bii) In the event of a registration of any of the Registrable Securities under the Act pursuant Warner by acceptance hereof, agrees to Section 9, the Seller will indemnify and hold harmless the Company, its directors and officers and each other person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, Act against all any losses, claims, damages or liabilities, joint or several, to which the Company or any such director or officer or director any such person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages any other statute or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.at common law,
Appears in 3 contracts
Sources: Stock Option Agreement (Entertainment Inc), Stock Option Agreement (Entertainment Inc), Stock Option Agreement (Entertainment Inc)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities Warrant Stock under the Securities Act pursuant to this Section 9, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each the Seller, each underwriter of such Registrable Securities Warrant Stock thereunder and each other person, if any, who controls any such Seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Warrant Stock was registered under the Securities Act pursuant to this Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are arc based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable to the provider of information giving rise to any claim in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person about itself in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Warrant Stock under the Securities Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Warrant Stock was registered under the Securities Act pursuant to this Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or actionactions, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities Warrant Stock sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities Warrant Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, actions such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c9.4(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c9.4(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c9.4(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests interest of the indemnifying party or if the indemnifying party shall not have assumed or undertaken the defense of such action with counsel reasonably satisfactory to such indemnified party, the indemnified parties party shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 9.4 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9.4 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.69.4; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price net proceeds received by such Seller from the sale of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 3 contracts
Sources: Warrant Agreement (Boundless Corp), Common Stock Purchase Warrant (Boundless Corp), Warrant Agreement (Boundless Corp)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 4, 5 or 6, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Selleras incurred each such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9Sections 4, the Seller 5 or 6, each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Restricted Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 9 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; 9, then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Restricted Stock offered by the registration statement bears to the public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Restricted Stock offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
(e) Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control.
Appears in 3 contracts
Sources: Investor Rights Agreement (Achillion Pharmaceuticals Inc), Investor Rights Agreement (Achillion Pharmaceuticals Inc), Investor Rights Agreement (Achillion Pharmaceuticals Inc)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 4, 5 or 6, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9Sections 4, the Seller 5 or 6, each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Restricted Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 9 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.69; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Restricted Stock offered by the registration statement bears to the public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Restricted Stock offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 3 contracts
Sources: Registration Rights Agreement (China Broadband Inc), Registration Rights Agreement (China Broadband Inc), Registration Rights Agreement (China Packaging Group Inc.)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant to Section 9, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Securities Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 3 contracts
Sources: Securities Purchase Agreement (Infinite Group Inc), Securities Purchase Agreement (Infinite Group Inc), Securities Purchase Agreement (Gosun Communications LTD Inc)
Indemnification and Contribution. (ai) In the event of a any registration of any Registrable Securities of the Shares under the Securities Act pursuant to this Section 9, the Company will shall indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller or underwriter within the meaning of the Securities ActWarner, against any losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter or controlling person Warner may become subject under the Securities Act or otherwiseany other statute or at common law, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (1) any untrue statement or alleged untrue statement of any material fact contained contained, on the effective date thereof, in any registration statement Registration Statement under which such Registrable Securities was securities were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereofthereto, or arise out of or are based upon the omission or (2) any alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will shall reimburse the Seller, each such underwriter and each such controlling person Warner for any legal or any other expenses reasonably incurred by them Warner in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will shall not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an any alleged untrue statement or alleged untrue statement omission made in such Registration Statement, preliminary prospectus, prospectus or omission amendment or alleged omission so made supplement in reliance upon and in conformity with written information regarding Warner or his stock furnished to the Company by any such Seller, the underwriter or any such controlling person in writing Warner specifically for use therein or so furnished for such purposes by any underwriter. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of Warner, and shall survive the transfer of such registration statement or prospectussecurities by Warner.
(bii) In the event of a registration of any of the Registrable Securities under the Act pursuant Warner by acceptance hereof, agrees to Section 9, the Seller will indemnify and hold harmless the Company, its directors and officers and each other person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, Act against all any losses, claims, damages or liabilities, joint or several, to which the Company or any such director or officer or director any such person may become subject under the Securities Act or otherwiseany other statute or at common law, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement information regarding Warner or alleged untrue statement of any material fact contained his stock in writing provided to the Company by Warner specifically for use in the registration statement following documents and contained, on the effective date thereof, in any Registration Statement under which such Registrable Securities securities were registered under the Securities Act pursuant to Section 9at the request of Warner, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereofthereto.
(iii) If the indemnification provided for in this Section 9 from the indemnifying party is unavailable to an indemnified party hereunder in respect of any losses, claims, damages, liabilities or arise out expenses referred to therein, then the indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or are based upon payable by such indemnified party as a result of such losses, claims, damages, liabilities or expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and indemnified parties in connection with the actions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative fault of such indemnifying party and indemnified parties shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state therein a material fact required fact, has been made by, or relates to be stated therein information supplied by such indemnifying party or necessary to make the statements therein not misleadingindemnified parties, and will reimburse the Company parties' relative intent, knowledge, access to information and each opportunity to correct or prevent such officer action. The amount paid or director for payable by a party as a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of any investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurredproceeding.
(div) In order to provide for The parties hereto agree that it would not be just and equitable if contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially 9(d) were determined (by the entry pro rata allocation or by any other method of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial allocation which does not take account of the last right of appeal) that such indemnification may not be enforced equitable considerations referred to in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling immediately preceding paragraph. No person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 3 contracts
Sources: Stock Option Agreement (Entertainment Inc), Stock Option Agreement (Entertainment Inc), Stock Option Agreement (Entertainment Inc)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant The Company agrees to Section 9, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder Underwriter and each other person, if any, person who controls any such Seller or underwriter Underwriter within the meaning of either Section 15 of the Securities Act, Act or Section 20 of the Exchange Act against any and all losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise arising out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in the Registration Statement for the registration of the Notes as originally filed or in any registration statement under which such Registrable Securities was registered under amendment thereof, or in the Act pursuant to Section 9Basic Prospectus, any preliminary prospectus Preliminary Final Prospectus, the Final Prospectus, any Issuer Free Writing Prospectus or final prospectus contained therein, or in any amendment thereof or supplement thereofthereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will agrees to reimburse the Seller, each such underwriter and each such controlling person indemnified party to the extent set forth below, as incurred, for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with written information pertaining to such Seller, as such, furnished in writing to the Company by such Seller or on behalf of any Underwriter through the Representative or directly by any Underwriter specifically for use therein (it being understood and agreed that the only such information furnished by any Underwriter consists of such information described as such in any Underwriter Blood Letter provided by such registration statement or prospectusparties). This indemnity agreement will be in addition to any liability which the Company may otherwise have.
(b) Each Underwriter, severally and not jointly, agrees to indemnify and hold harmless the Company, each of its directors, each of its officers who signs the Registration Statement, and providedeach person who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, furtherto the same extent as the foregoing indemnity from the Company to each Underwriter, however, but only with reference to written information relating to such Underwriter furnished to the Company by or on behalf of such Underwriter through the Representative or directly by any Underwriter for use in the preparation of the documents referred to in the foregoing indemnity (it being understood and agreed that the liability only such information furnished by any Underwriter consists of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under information described as such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered Underwriter Blood Letter provided by such registration statementparties). This indemnity agreement will be in addition to any liability which any Underwriter may otherwise have.
(c) Promptly after receipt by an indemnified party hereunder under this Section 7 of notice of the commencement of any actionaction (including any governmental investigation), such indemnified party shallwill, if a claim in respect thereof is to be made against the indemnifying party hereunderunder clause (a) or (b) of this Section 7, notify the indemnifying party in writing of the commencement thereof, ; but the omission so to notify the indemnifying party shall will not relieve it from any liability which it may have to such any indemnified party other otherwise than under clause (a) or (b) of this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission7. In case any such action shall be is brought against any indemnified party party, and it shall notify notifies the indemnifying party of the commencement thereof, the indemnifying party shall will be entitled to participate in andtherein, and to the extent that it shall wish, jointly, with any other indemnifying party similarly notified, to assume and undertake the defense thereof thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, andbe counsel to the indemnifying party). In any such proceeding, after notice from any indemnified party shall have the right to obtain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party to such and the indemnified party shall have mutually agreed to the retention of its election so such counsel or (ii) the named parties to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action proceeding (including any impleaded parties) include both the indemnified party and the indemnifying party and representation of both parties by the same counsel would be inappropriate due to actual or potential conflicts of interests between them. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate identified firm (in addition to any identified local counsel) for all such indemnified parties and that all such fees and expenses shall be reimbursed as they are incurred. Such firm shall be designated in writing by the Representative in the case of parties to be indemnified pursuant to paragraph (a) of this Section 7 and by the Company in the case of parties to be indemnified pursuant to paragraph (b) of this Section 7. An indemnifying party shall not be liable for any settlement of any proceeding effected without its prior written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from and against any loss or additional to those available to the liability by reason of such settlement or judgment. No indemnifying party or if shall, without the interests prior written consent of the indemnified party reasonably may (which consent shall not be deemed unreasonably withheld or delayed), effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (i) includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such proceeding and (ii) does not include a statement as to, or an admission of, fault, culpability or a failure to conflict with the interests act by or on behalf of the indemnifying indemnified party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order To the extent the indemnification provided for in Section 7(a) or 7(b) hereof is unavailable to provide for just and equitable contribution an indemnified party or insufficient in the event respect of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities referred to which they may be subject therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (after contribution from othersi) in such proportion so as is appropriate to reflect the relative benefits received by the Company, on the one hand, and each Underwriter, on the other hand, from the offering of such Notes or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company, on the one hand, and each Underwriter, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Company, on the one hand, and each Underwriter, on the other hand, in connection with the offering of such Notes shall be deemed to be in the same respective proportions as the total net proceeds from the offering of such Notes (before deducting expenses) received by the Company bear to the total discounts and commissions received by each Underwriter in respect thereof. The relative fault of the Company, on the one hand, and each Underwriter, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or by such Underwriter and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. Each Underwriter’s obligation to contribute pursuant to this Section 7 shall be several in the proportion that the Seller is responsible only for principal amount of Notes the portion represented sale of which by the percentage that the public offering price of its securities offered by the registration statement such Underwriter gave rise to such losses, claims, damages or liabilities bears to the public offering price aggregate principal amount of Notes the sale of which by all securities offered Underwriters gave rise to such losses, claims, damages or liabilities, and not joint.
(e) The Company and the Underwriters agree that it would not be just or equitable if contribution pursuant to Section 7(d) hereof were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 7(d) hereof. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 7(d) hereof shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such registration statement, provided, however, that, indemnified party in connection with investigating or defending any such caseaction or claim. Notwithstanding the provisions of this Section 7, (A) the Seller will not no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Notes referred to in Section 7(d) hereof that were offered and sold to the public offering price through such Underwriter exceeds the amount of all any damages that such securities offered Underwriter has otherwise been required to pay by it pursuant to reason of such registration statement; and (B) no untrue or alleged untrue statement or omission or alleged omission. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11
(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 3 contracts
Sources: Underwriting Agreement (Wells Fargo & Company/Mn), Underwriting Agreement (Wells Fargo & Company/Mn), Underwriting Agreement (Wells Fargo & Company/Mn)
Indemnification and Contribution. (a) In connection with the event of a registration of any Registrable Securities the Shares under the Securities Act pursuant to Section 95, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each SellerStockholder, each underwriter of such Registrable Securities Shares thereunder and each other person, if any, who controls any such Seller Stockholder or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch Stockholder, or such underwriter or controlling person may become subject under the Securities Act Act, Exchange Act, state securities laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in any the registration statement under which such Registrable Securities was Shares were registered under the Securities Act pursuant to Section 95, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereofthereto, or arise out of or are based upon (ii) the omission or alleged omission to state therein of a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading or (iii) any violation by the Company or its agents of any rule or regulation promulgated under the Securities Act, Exchange Act or state securities laws applicable to the Company or its agents and relating to action or inaction required of the Company in connection with such registration, and the Company will reimburse the Sellereach such Stockholder, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , as such expenses are incurred, provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with based upon written information furnished by or for any such SellerStockholder, the any such underwriter or any such controlling person in writing specifically for use in such the applicable registration statement or prospectusstatement.
(b) In connection with the event of a registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 95, the Seller each Stockholder will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the such registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) the failure of such Stockholder to comply with the provisions of Section 12 herein or (ii) any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9statement, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereofthereto, or arise out of or are based upon (iii) the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, as such expenses are incurred, provided, however, that the Seller such Stockholder will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with written information pertaining to such Seller, as suchStockholder, furnished in writing to the Company by or for such Seller Stockholder specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such applicable registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 9 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereofthereof and the approval by the indemnified party of the counsel chosen by the indemnifying party, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred. No indemnifying party will consent to entry of judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability with respect to such claim or litigation.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, a Stockholder exercises rights under this Agreement and makes a claim for indemnification pursuant to this Section 9.6 9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller Stockholder in circumstances for which indemnification is provided under this Section 9.69; then, and in each such case, the Company and the Seller Stockholders will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price relative fault of all securities offered by such registration statementthe Company, on the one hand, and the Stockholders, on the other hand; provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
(e) The indemnities provided in this Section 9 shall survive the transfer of any Shares by a Stockholder.
Appears in 3 contracts
Sources: Registration Rights Agreement (Parexel International Corp), Registration Rights Agreement (Parexel International Corp), Registration Rights Agreement (Parexel International Corp)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant The Company agrees to Section 9, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder Underwriter and each other person, if any, person who controls any such Seller or underwriter Underwriter within the meaning of either Section 15 of the Securities Act, Act or Section 20 of the Exchange Act against any and all losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise arising out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in the Registration Statement for the registration of the Notes as originally filed or in any registration statement under which such Registrable Securities was registered under amendment thereof, or in the Act pursuant to Section 9Basic Prospectus, any preliminary prospectus Preliminary Final Prospectus, the Final Prospectus, any Issuer Free Writing Prospectus or final prospectus contained therein, or in any amendment thereof or supplement thereofthereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will agrees to reimburse the Seller, each such underwriter and each such controlling person indemnified party to the extent set forth below, as incurred, for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with written information pertaining to such Seller, as such, furnished in writing to the Company by such Seller or on behalf of any Underwriter through the Representative or directly by any Underwriter specifically for use therein (it being understood and agreed that the only such information furnished by any Underwriter consists of such information described as such in any Underwriter Blood Letter provided by such registration statement or prospectusparties). This indemnity agreement will be in addition to any liability which the Company may otherwise have.
(b) Each Underwriter, severally and not jointly, agrees to indemnify and hold harmless the Company, each of its directors, each of its officers who signs the Registration Statement, and providedeach person who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, furtherto the same extent as the foregoing indemnity from the Company to each Underwriter, however, but only with reference to written information relating to such Underwriter furnished to the Company by or on behalf of such Underwriter through the Representative or directly by any Underwriter for use in the preparation of the documents referred to in the foregoing indemnity (it being understood and agreed that the liability only such information furnished by any Underwriter consists of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under information described as such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered Underwriter Blood Letter provided by such registration statementparties). This indemnity agreement will be in addition to any liability which any Underwriter may otherwise have.
(c) Promptly after receipt by an indemnified party hereunder under this Section 7 of notice of the commencement of any actionaction (including any governmental investigation), such indemnified party shallwill, if a claim in respect thereof is to be made against the indemnifying party hereunderunder clause (a) or (b) of this Section 7, notify the indemnifying party in writing of the commencement thereof, ; but the omission so to notify the indemnifying party shall will not relieve it from any liability which it may have to such any indemnified party other otherwise than under clause (a) or (b) of this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission7. In case any such action shall be is brought against any indemnified party party, and it shall notify notifies the indemnifying party of the commencement thereof, the indemnifying party shall will be entitled to participate in andtherein, and to the extent that it shall wish, jointly, with any other indemnifying party similarly notified, to assume and undertake the defense thereof thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, andbe counsel to the indemnifying party). In any such proceeding, after notice from any indemnified party shall have the right to obtain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party to such and the indemnified party shall have mutually agreed to the retention of its election so such counsel or (ii) the named parties to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action proceeding (including any impleaded parties) include both the indemnified party and the indemnifying party and representation of both parties by the same counsel would be inappropriate due to actual or potential conflicts of interests between them. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate identified firm (in addition to any identified local counsel) for all such indemnified parties and that all such fees and expenses shall be reimbursed as they are incurred. Such firm shall be designated in writing by the Representative in the case of parties to be indemnified pursuant to paragraph (a) of this Section 7 and by the Company in the case of parties to be indemnified pursuant to paragraph (b) of this Section 7. An indemnifying party shall not be liable for any settlement of any proceeding effected without its prior written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from and against any loss or additional to those available to the liability by reason of such settlement or judgment. No indemnifying party or if shall, without the interests prior written consent of the indemnified party reasonably may (which consent shall not be deemed unreasonably withheld or delayed), effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (i) includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such proceeding and (ii) does not include a statement as to, or an admission of, fault, culpability or a failure to conflict with the interests act by or on behalf of the indemnifying indemnified party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order To the extent the indemnification provided for in Section 7(a) or 7(b) hereof is unavailable to provide for just and equitable contribution an indemnified party or insufficient in the event respect of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities referred to which they may be subject therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (after contribution from othersi) in such proportion so as is appropriate to reflect the relative benefits received by the Company, on the one hand, and each Underwriter, on the other hand, from the offering of such Notes or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company, on the one hand, and each Underwriter, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Company, on the one hand, and each Underwriter, on the other hand, in connection with the offering of such Notes shall be deemed to be in the same respective proportions as the total net proceeds from the offering of such Notes (before deducting expenses) received by the Company bear to the total discounts and commissions received by each Underwriter in respect thereof. The relative fault of the Company, on the one hand, and each Underwriter, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or by such Underwriter and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. Each Underwriter’s obligation to contribute pursuant to this Section 7 shall be several in the proportion that the Seller is responsible only for principal amount of Notes the portion represented sale of which by the percentage that the public offering price of its securities offered by the registration statement such Underwriter gave rise to such losses, claims, damages or liabilities bears to the public offering price aggregate principal amount of Notes the sale of which by all securities offered Underwriters gave rise to such losses, claims, damages or liabilities, and not joint.
(e) The Company and the Underwriters agree that it would not be just or equitable if contribution pursuant to Section 7(d) hereof were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 7(d) hereof. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 7(d) hereof shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such registration statement, provided, however, that, indemnified party in connection with investigating or defending any such caseaction or claim. Notwithstanding the provisions of this Section 7, (A) the Seller will not no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Notes referred to in Section 7(d) hereof that were offered and sold to the public offering price through such Underwriter exceeds the amount of all any damages that such securities offered Underwriter has otherwise been required to pay by it pursuant to reason of such registration statement; and (B) no untrue or alleged untrue statement or omission or alleged omission. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11 (f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 3 contracts
Sources: Underwriting Agreement (Wells Fargo & Company/Mn), Underwriting Agreement (Wells Fargo & Company/Mn), Underwriting Agreement (Wells Fargo & Company/Mn)
Indemnification and Contribution. (a) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each Sellerthe Investor, each underwriter of such Registrable Securities thereunder Shares, and each other person, if any, who controls any the Investor or such Seller or underwriter within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the SellerInvestor, or such underwriter or controlling person may become subject under the Securities Act Act, the Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was Shares were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto such Registration Statement, or arise out of or are based upon (ii) the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law in connection with the Registration Statement or the offering or distribution contemplated thereby; and the Company will reimburse the SellerInvestor, each any such underwriter and each such controlling person for any legal or any other expenses reasonably incurred by them the Investor or such underwriter or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that with respect to each of the foregoing the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged any untrue statement or omission made in such Registration Statement, preliminary prospectus or alleged omission so made prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by any such Seller, or on behalf of the underwriter Investor or any such underwriter or controlling person in writing specifically for use in such registration statement or prospectusthe preparation thereof.
(b) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Seller Investor will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each person, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, each officer of the Company who signs the registration statement and each director of the Company, against all any losses, claims, damages or liabilities, joint or several, to which the Company Company, such directors and officers, underwriter or such officer or director controlling person may become subject under the Securities Act Act, Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any a material fact contained in the registration statement any Registration Statement under which such Registrable Securities Shares were registered under the Securities Act pursuant to Section 9Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto the Registration Statement, or arise out of or are based upon the (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if and will reimburse to the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if extent (and only to the extent extent) that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue the statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining relating to such Seller, as such, the Investor furnished in writing to the Company by such Seller the Investor specifically for use in connection with the preparation of such registration statement or Registration Statement, prospectus, and amendment or supplement; provided, further, however, that the liability obligations of the Seller Investor hereunder in connection with the sale of Registrable Shares under a Registration Statement shall be limited to the proportion of any such loss, claim, damage, liability or expense which is an amount equal to the proportion that net proceeds to the public offering price Investor of the Registrable Securities Shares sold by the Seller under in connection with such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementregistration.
(c) Promptly Each Indemnified Party shall give notice to the Indemnifying Party promptly after receipt by an indemnified party hereunder of notice of the commencement such Indemnified Party has actual knowledge of any actionclaim as to which indemnity may be sought, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have permit the Indemnifying Party to such indemnified party under this Section 9.6(c) if and to assume the extent the indemnifying party is prejudiced by such omission. In case defense of any such action shall be brought against claim or any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, litigation resulting therefrom; provided, however, thatthat counsel for the Indemnifying Party, who shall conduct the defense of such claim or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld, conditioned or delayed); and, provided, further, that the failure of any Indemnified Party to give notice as provided herein shall not relieve the Indemnifying Party of its obligations under this Section 2.4 except to the extent that the Indemnifying Party is materially and adversely prejudiced by such failure. The Indemnified Party may participate in such defense at such party’s expense; provided, however, that the Indemnifying Party shall pay such expense if the defendants Indemnified Party reasonably concludes that representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests between the Indemnified Party and any other party represented by such counsel in any such action include both proceeding; provided further that in no event shall the indemnified party and Indemnifying Party be required to pay the indemnifying party and expenses of more than one law firm per jurisdiction as counsel for the indemnified party Indemnified Party. The Indemnifying Party also shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to responsible for the indemnifying party or expenses of such defense if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and Indemnifying Party does not elect to assume such legal defenses and otherwise to participate defense. No Indemnifying Party, in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such separate counsel claim or litigation, and other expenses related no Indemnified Party shall consent to entry of any judgment or settle such participation to claim or litigation without the prior written consent of the Indemnifying Party, which consent shall not be reimbursed by the indemnifying party as incurredunreasonably withheld, conditioned or delayed.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case circumstances in which either (i) the Seller, or any controlling person of the Seller, makes a claim indemnification provided for indemnification pursuant to in this Section 9.6 2.4 is due in accordance with its terms but it for any reason is judicially determined (by held to be unavailable to an Indemnified Party in respect to any losses, claims, damages and liabilities referred to herein, then the entry Indemnifying Party shall, in lieu of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that indemnifying such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such caseIndemnified Party, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate amount paid or payable by such Indemnified Party as a result of such losses, claims, damages or liabilities to which they such party may be subject (after contribution from others) in such proportion so that as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented Company on the one hand and the Investor on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Investor shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of material fact related to information supplied by the percentage Company or the Investor and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Investor agree that it would not be just and equitable if contribution pursuant to this Section 2.4(d) were determined by pro rata allocation or by any other method of allocation which does not take account of the public offering price equitable considerations referred to above. Notwithstanding the provisions of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, thatthis Section 2.4(d), in any such caseconnection with the sale of Registrable Shares pursuant to a Registration Statement, (A) in no case shall the Seller will not Investor be required to contribute liable or responsible for any amount in excess of the public net proceeds received by the Investor from the offering price of all such securities offered by it pursuant to such registration statementRegistrable Shares; and (B) provided, however, that no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. Any party entitled to contribution will, promptly after receipt of notice of commencement of any action, suit or proceeding against such party in respect of which a claim for contribution may be made against another party or parties under this Section 2.4(d), notify such party or parties from whom contribution may be sought, but the omission so to notify such party or parties from whom contribution may be sought shall not relieve such party from any other obligation it or they may have thereunder or otherwise under this Section 2.4(d). No party shall be liable for contribution with respect to any action, suit, proceeding or claim settled without its prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed.
(e) The rights and obligations of the Company and the Investor under this Section 2.4 shall survive the termination of this Agreement.
Appears in 2 contracts
Sources: Registration Rights Agreement (Global Secure Corp.), Registration Rights Agreement (Global Secure Corp.)
Indemnification and Contribution. (a) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Company will indemnify and hold harmless each Seller, each officer the seller of each Seller, each director of each Sellersuch Registrable Shares, each underwriter of such Registrable Securities thereunder Shares, and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act Act, the Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was Shares were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto such Registration Statement, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, ; and the Company will reimburse the Sellersuch seller, each such underwriter and each such controlling person for any legal or any other expenses reasonably incurred by them such seller, underwriter or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in -------- ------- any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged any untrue statement or omission made in such Registration Statement, preliminary prospectus or alleged omission so made prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by any or on behalf of such Sellerseller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectusthe preparation thereof.
(b) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Seller each seller of Registrable Shares, severally and not jointly, will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each person, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, each officer of the Company who signs the registration statement and each director of the Company, against all any losses, claims, damages or liabilities, joint or several, to which the Company Company, such directors and officers, underwriter or such officer or director controlling person may become subject under the Securities Act Act, Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in the registration statement any Registration Statement under which such Registrable Securities Shares were registered under the Securities Act pursuant to Section 9Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto the Registration Statement, or arise out of or are based upon the any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse if the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining relating to such Seller, as such, seller furnished in writing to the Company by or on behalf of such Seller seller specifically for use in connection with the preparation of such registration statement or Registration Statement, prospectus, and amendment or supplement; provided, further, however, that the liability obligations of the Seller -------- ------- a Stockholder hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is an amount equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale to such Stockholder of Registrable Securities covered by Shares sold in connection with such registration statementregistration.
(c) Promptly Each party entitled to indemnification under this Section (the "Indemnified Party") shall give notice to the party required to provide indemnification (the "Indemnifying Party") promptly after receipt by an indemnified party hereunder of notice of the commencement such Indemnified Party has actual knowledge of any actionclaim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such indemnified party shallclaim or any litigation resulting therefrom; provided, if a that counsel for the Indemnifying -------- Party, who shall conduct the defense of such claim in respect thereof is or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld); and, provided, further, that the failure of any Indemnified Party to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party -------- ------- give notice as provided herein shall not relieve it from any liability which it may have to such indemnified party other than the Indemnifying Party of its obligations under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and except to the extent that the indemnifying party Indemnifying Party is prejudiced adversely affected by such omissionfailure. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to The Indemnified Party may participate in and, to the extent it shall wish, to assume and undertake the such defense thereof with counsel satisfactory to at such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, 's expense; provided, however, that, that the Indemnifying -------- ------- Party shall pay such expense if representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests between the Indemnified Party and any other party represented by such counsel in such proceeding; provided further that in -------- ------- no event shall the Indemnifying Party be required to pay the expenses of more than one law firm per jurisdiction as counsel for the Indemnified Party. The Indemnifying Party also shall be responsible for the expenses of such defense if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and Indemnifying Party does not elect to assume such legal defenses and otherwise to participate defense. No Indemnifying Party, in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such separate counsel claim or litigation, and other expenses related no Indemnified Party shall consent to entry of any judgment or settle such participation to claim or litigation without the prior written consent of the Indemnifying Party, which consent shall not be reimbursed by the indemnifying party as incurredunreasonably withheld.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case circumstances in which either (i) the Seller, or any controlling person of the Seller, makes a claim indemnification provided for indemnification pursuant to in this Section 9.6 2.5 is due in accordance with its terms but it for any reason is judicially determined (by held to be unavailable to an Indemnified Party in respect to any losses, claims, damages and liabilities referred to herein, then the entry Indemnifying Party shall, in lieu of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that indemnifying such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such caseIndemnified Party, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate amount paid or payable by such Indemnified Party as a result of such losses, claims, damages or liabilities to which they such party may be subject (after contribution from others) in such proportion so that as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented Company on the one hand and the Stockholders on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Stockholders shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of material fact related to information supplied by the percentage Company or the Stockholders and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Stockholders agree that it would not be just and equitable if contribution pursuant to this Section 2.5 were determined by pro rata allocation or by any other method of allocation which does not take account of the public offering price equitable considerations referred to above. Notwithstanding the provisions of its securities offered by the registration statement bears to the public offering price this paragraph of all securities offered by such registration statement, provided, however, that, in any such caseSection 2.5, (Aa) the Seller will not in no case shall any one Stockholder be required to contribute liable or responsible for any amount in excess of the public net proceeds received by such Stockholder from the offering price of all such securities offered by it pursuant to such registration statement; Registrable Shares and (Bb) the Company shall be liable and responsible for any amount in excess of such proceeds; provided, however, that no person or entity guilty of fraudulent misrepresentation (within -------- ------- the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. Any party entitled to contribution will, promptly after receipt of notice of commencement of any action, suit or proceeding against such party in respect of which a claim for contribution may be made against another party or parties under this Section, notify such party or parties from whom contribution may be sought, but the omission so to notify such party or parties from whom contribution may be sought shall not relieve such party from any other obligation it or they may have thereunder or otherwise under this Section. No party shall be liable for contribution with respect to any action, suit, proceeding or claim settled without its prior written consent, which consent shall not be unreasonably withheld.
Appears in 2 contracts
Sources: Investor Rights Agreement (Engage Technologies Inc), Investor Rights Agreement (Engage Technologies Inc)
Indemnification and Contribution. (a) a. In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 92 or Section 3, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 92 or Section 3, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus. It is agreed that the indemnity agreement contained in this Section 6(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld or delayed).
(b) b. In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 92 or Section 3, the Seller each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 92 or Section 3, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, ; provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited not in any event exceed the proceeds received by such seller from the sale of Restricted Stock covered by such registration statement. It is agreed that the indemnity agreement contained in this Section 6(b) shall not apply to the proportion amounts paid in settlement of any such loss, claim, damage, liability or expense action if such settlement is effected without the consent of seller hereunder (which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but consent shall not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementbe unreasonably withhold or delayed).
(c) c. Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 6 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 6 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 6 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests interest of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) d. In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; 6, then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Restricted Stock offered by the registration statement bears to the public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Restricted Stock offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Registration Rights Agreement (Axtive Corp), Registration Rights Agreement (Axtive Corp)
Indemnification and Contribution. (a) In connection with the event of a registration of any Registrable Securities the Shares under the Securities Act pursuant to Section 96, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each SellerStockholder, each underwriter of such Registrable Securities Shares thereunder and each other person, if any, who controls any such Seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch Stockholder, or such underwriter or controlling person may become subject under the Securities Act Act, Exchange Act, state securities laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in any the registration statement under which such Registrable Securities was Shares were registered under the Securities Act pursuant to Section 96, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereofthereto, or arise out of or are based upon (ii) the omission or alleged omission to state therein of a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading or (iii) any violation by the Company or its agents of any rule or regulation promulgated under the Securities Act, Exchange Act or state securities laws applicable to the Company or its agents and relating to action or inaction required of the Company in connection with such registration, and the Company will reimburse the Sellereach such Stockholder, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , as such expenses are incurred, provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with based upon information furnished by any such SellerStockholder, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectusperson.
(b) In connection with the event of a registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 96, the Seller Stockholders will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the such registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) the failure of the Stockholders to comply with the provisions of Section 13 herein or (ii) any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9statement, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereofthereto, or arise out of or are based upon (iii) the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, as such expenses are incurred, provided, however, that the Seller Stockholders will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with based upon information pertaining to such Seller, as suchthe Stockholders, furnished by or for the Stockholders in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementwriting.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 10 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 10 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereofthereof and the approval by the indemnified party of the counsel chosen by the indemnifying party, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 10 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, a Stockholder exercises rights under this Agreement and makes a claim for indemnification pursuant to this Section 9.6 10 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 10 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller Stockholder in circumstances for which indemnification is provided under this Section 9.610; then, and in each such case, the Company and the Seller Stockholders will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price relative fault of all securities offered by such registration statementthe Company, on the one hand, and the Stockholders, on the other hand; provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
(e) The indemnities provided in this Section 10 shall survive the transfer of any Shares by the Stockholder.
Appears in 2 contracts
Sources: Registration Rights Agreement (Parexel International Corp), Registration Rights Agreement (Parexel International Corp)
Indemnification and Contribution. (a) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Company will indemnify and hold harmless each Seller, each officer the seller of each Seller, each director of each Sellersuch Registrable Shares, each underwriter of such Registrable Securities thereunder Shares, and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act Act, the Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was Shares were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto such Registration Statement, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, ; and the Company will reimburse the Sellersuch seller, each such underwriter and each such controlling person for any legal or any other expenses reasonably incurred by them such seller, underwriter or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; providedPROVIDED, howeverHOWEVER, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged any untrue statement or omission made in such Registration Statement, preliminary prospectus or alleged omission so made prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by any or on behalf of such Sellerseller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) the preparation thereof. In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Seller each seller of Registrable Shares, severally and not jointly, will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each person, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, each officer of the Company who signs the registration statement and each director of the Company, against all any losses, claims, damages or liabilities, joint or several, to which the Company Company, such directors and officers, underwriter or such officer or director controlling person may become subject under the Securities Act Act, Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in the registration statement any Registration Statement under which such Registrable Securities Shares were registered under the Securities Act pursuant to Section 9Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto the Registration Statement, or arise out of or are based upon the any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse if the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by or on behalf of such Seller seller, specifically for use in connection with the preparation of such registration statement or Registration Statement, prospectus, and providedamendment or supplement; PROVIDED, further, howeverHOWEVER, that the liability obligations of the Seller a Stockholder hereunder shall be limited to an amount equal to the proportion proceeds to such Stockholder of Registrable Shares sold as contemplated herein. Each party entitled to indemnification under this Section 6 (the "Indemnified Party") shall give notice to the party required to provide indemnification (the "Indemnifying Party") promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such lossclaim or any litigation resulting therefrom; PROVIDED, claimthat counsel for the Indemnifying Party, damagewho shall conduct the defense of such claim or litigation, liability or expense which is equal to shall be approved by the proportion Indemnified Party (whose approval shall not be unreasonably withheld); and, PROVIDED, FURTHER, that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement failure of any action, such indemnified party shall, if a claim in respect thereof is Indemnified Party to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party give notice as provided herein shall not relieve it from any liability which it may have to such indemnified party other than the Indemnifying Party of its obligations under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and Agreement except to the extent that the indemnifying party Indemnifying Party is prejudiced adversely affected by such omissionfailure. In case The Indemnified Party may participate in such defense at such party's expense; PROVIDED, HOWEVER, that the Indemnifying Party shall pay such expense if representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests between the Indemnified Party and any other party represented by such action counsel in such proceeding; provided further that in no event shall the Indemnifying Party be required to pay the expenses of more than one law firm per jurisdiction as counsel for the Indemnified Party. The Indemnifying Party also shall be brought against any indemnified party and it shall notify responsible for the indemnifying party expenses of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the such defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and Indemnifying Party does not elect to assume such legal defenses and otherwise to participate defense. No Indemnifying Party, in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such separate counsel claim or litigation, and other expenses related no Indemnified Party shall consent to entry of any judgment or settle such participation to claim or litigation without the prior written consent of the Indemnifying Party, which consent shall not be reimbursed by the indemnifying party as incurred.
(d) unreasonably withheld. In order to provide for just and equitable contribution in the event of joint liability under the Act in any case circumstances in which either (i) the Seller, or any controlling person of the Seller, makes a claim indemnification provided for indemnification pursuant to in this Section 9.6 6 is due in accordance with its terms but it for any reason is judicially determined (by held to be unavailable to an Indemnified Party in respect to any losses, claims, damages and liabilities referred to herein, then the entry Indemnifying Party shall, in lieu of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that indemnifying such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such caseIndemnified Party, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate amount paid or payable by such Indemnified Party as a result of such losses, claims, damages or liabilities to which they such party may be subject (after contribution from others) in such proportion so that as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented Company on the one hand and the Stockholders on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Stockholders shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of material fact related to information supplied by the percentage Company or the Stockholders and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Stockholders agree that it would not be just and equitable if contribution pursuant to this Section 6 were determined by pro rata allocation or by any other method of allocation which does not take account of the public offering price equitable considerations referred to above. Notwithstanding the provisions of its securities offered by the registration statement bears to the public offering price this paragraph of all securities offered by such registration statement, provided, however, thatSection 6, in no case shall any such case, (A) the Seller will not one Stockholder be required to contribute liable or responsible for any amount in excess of the public net proceeds received by such Stockholder from the offering price of all such securities offered by it pursuant to such registration statementRegistrable Shares; and (B) PROVIDED, HOWEVER, that no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. Any party entitled to contribution will, promptly after receipt of notice of commencement of any action, suit or proceeding against such party in respect of which a claim for contribution may be made against another party or parties under this Section, notify such party or parties from whom contribution may be sought, but the omission so to notify such party or parties from whom contribution may be sought shall not relieve such party from any other obligation it or they may have thereunder or otherwise under this Section. No party shall be liable for contribution with respect to any action, suit, proceeding or claim settled without its written consent.
Appears in 2 contracts
Sources: Registration Rights Agreement (Chase Venture Capital Associates L P), Registration Rights Agreement (Diatide Inc)
Indemnification and Contribution. (a) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Company will indemnify and hold harmless each Seller, each officer the seller of each Seller, each director of each Sellersuch Registrable Shares, each underwriter of such Registrable Securities thereunder Shares, and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act Act, the Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was Shares were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereof, to such Registration Statement or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, ; and the Company will reimburse the Sellersuch seller, each such underwriter and each such controlling person for any legal or any other expenses reasonably incurred by them such seller, underwriter or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged any untrue statement or omission made in such Registration Statement, preliminary prospectus or alleged omission so made final prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by any or on behalf of such Sellerseller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectusthe preparation thereof.
(b) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Seller each seller of Registrable Shares, severally and not jointly, will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each person, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, each officer of the Company who signs the registration statement and each director of the Company, against all any losses, claims, damages or liabilities, joint or several, to which the Company Company, such directors and officers, underwriter or such officer or director controlling person may become subject under the Securities Act Act, Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in the registration statement any Registration Statement under which such Registrable Securities Shares were registered under the Securities Act pursuant to Section 9Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto the Registration Statement, or arise out of or are based upon the any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements statement therein not misleading, and will reimburse if the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining relating to such Seller, as such, seller furnished in writing to the Company by or on behalf of such Seller seller specifically for use in connection with the preparation of such registration statement Registration Statement, prospectuses, amendment or prospectus, and supplement; provided, further, however, that the liability obligations of the Seller such Investor Stockholders hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is an amount equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears proceeds to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale each Investor Stockholder of Registrable Securities covered by Shares sold in connection with such registration statementregistration.
(c) Promptly Each party entitled to indemnification under this Section 9.5 (the “Indemnified Party”) shall give notice to the party required to provide indemnification (the “Indemnifying Party”) promptly after receipt by an indemnified party hereunder of notice of the commencement such Indemnified Party has actual knowledge of any actionclaim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such indemnified party shallclaim or any litigation resulting therefrom; provided that counsel for the Indemnifying Party, if a who shall conduct the defense of such claim in respect thereof is or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld); and, provided further that the failure of any Indemnified Party to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party give notice as provided herein shall not relieve it from any liability which it may have to such indemnified party other than the Indemnifying Party of its obligations under this Section 9.6(c) and shall only relieve it from any liability which it 9.5. The Indemnified Party may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the such defense thereof with counsel satisfactory to at such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, ’s expense; provided, however, thatthat the Indemnifying Party shall pay such expense if representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests between the Indemnified Party and any other party represented by such counsel in such proceeding. No Indemnifying Party, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to each Indemnified Party of a release from all liability in respect of such separate counsel claim or litigation, and no Indemnified Party shall consent to entry of any judgment or settle such claim or litigation without the prior written consent of each other expenses related to such participation to be reimbursed by the indemnifying party as incurredIndemnified Party.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registrable Shares exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 9.5 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9.5 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling Investor Stockholder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.69.5; then, and in then each such case, the Company and the Seller will Indemnifying Party shall contribute to the aggregate amount paid or payable by such Indemnified Party as a result of such losses, claims, damages liabilities, or liabilities to which they may be subject expenses (after contribution from othersor actions in respect thereof) in such proportion so that as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented Indemnifying Party and the Indemnified Party as well as any other relevant equitable considerations. The relative fault of such Indemnifying Party and Indemnified Party shall be determined by reference to, among other things, whether the percentage that the public offering price untrue or alleged untrue statement of its securities offered by the registration statement bears a material fact or omission or alleged omission to the public offering price of all securities offered state a material fact relates to information supplied by such registration statementIndemnifying Party or Indemnified Party, providedand the parties’ relative knowledge, howeveraccess to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 9.5(d) were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable considerations referred to in this Section 9.5(d). The amount paid or payable by an Indemnified Party as result of the losses, thatclaims, damages, liabilities, or expenses (or actions in respect thereof) referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such Indemnified Party in connection with investigating or, except as provided in Section 9.5(c), defending any such caseaction or claim. Notwithstanding the provisions of this Section 9.5(d), (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price proceeds to it of all such securities offered Registrable Shares sold by it pursuant to such registration statement; Registration Statement, and (B) no person or entity guilty of fraudulent misrepresentation (misrepresentation, within the meaning of Section 10(f11(f) of the Securities Act) will , shall be entitled to contribution from any person or entity who was is not guilty of such fraudulent misrepresentationmisrepresentations.
Appears in 2 contracts
Sources: Stockholders Agreement (Zynerba Pharmeceuticals, Inc.), Stockholders Agreement (Zynerba Pharmeceuticals, Inc.)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant to Section 9, Indemnification by the Company will - Registrable Securities. The Company agrees to indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder selling Holder and each other personPerson, if any, who controls any such Seller or underwriter each selling Holder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and the officers, directors, Affiliates, employees and agents of each of the foregoing, from and against any and all losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claimsjudgments, damages or and liabilities (or actions in respect thereofincluding reasonable fees, disbursements and other charges of counsel) arise arising out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in any registration statement under which such Registrable Securities was registered under Registration Statement (as amended or supplemented if the Act pursuant to Section 9, Company shall have furnished any amendments or supplements thereto) or any preliminary prospectus or final prospectus Prospectus contained therein, therein or any amendment or supplement thereof, or arise arising out of or are based upon the any omission or alleged omission to state therein in any such Registration Statement or Prospectus a material fact required to be stated therein or necessary to make the statements therein (as to a preliminary or final prospectus), in light of the circumstances under which they were made, not misleading, and will reimburse the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred failure by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable to fulfill any undertaking in any such case if and to the extent that any such lossRegistration Statement, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, except insofar as such losses, claims, judgments, damages or liabilities (or actions in respect thereof) arise out of or are based upon any such untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining relating to such SellerHolder or the plan of distribution of Registrable Securities to be sold by such Holder, as such, in each case furnished in writing to the Company by such Seller specifically Holder expressly for use in such registration statement or prospectus, and provided, further, however, therein; provided that the foregoing indemnity agreement with respect to any preliminary prospectus shall not inure to the benefit of a selling Holder with respect to any loss, claim, damage or liability relating to a purchaser if a copy of the Seller hereunder shall be limited final prospectus was furnished to such selling Holder and was not provided to such purchaser and such final prospectus would have cured the proportion of any defect giving rise to such loss, claim, damage, liability damage or expense which is equal liability. The Company agrees to reimburse the proportion that the public offering price Purchasers for reasonable fees and expenses incurred investigating claims subject to indemnification under this Section 5(a). The Company also agrees to indemnify any Underwriters of the Registrable Securities sold by Securities, their officers and directors and each person who controls such Underwriters on substantially the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice same basis as that of the commencement indemnification of any action, such indemnified party shall, if a claim the selling Holders provided in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred5(a).
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Registration Rights Agreement (Emcore Corp), Registration Rights Agreement (Uniroyal Technology Corp)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant to Section 9, the Company 12.1 The Corporation will indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller or underwriter within the meaning of the Securities ActAgents and their respective subsidiaries, against any lossesdirectors, claimsofficers, damages or liabilitiesemployees and agents, joint or several, to which the Seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Companyaffiliates, and each person, if any, who controls any of the Company Agents within the meaning of the Securities ActAct and the Exchange Act (the "Indemnified Parties") against all losses (excluding lost profit), claims, liabilities and expenses (including, without limitation, reasonable expenses of investigation and defending any claims or litigation as the same are incurred), upon the terms of the indemnity attached as Schedule 2, whether or not the transactions herein contemplated shall be completed.
12.2 Moreover, the Corporation will indemnify and hold harmless each of the Agents against any documentary, stamp or similar issue tax, including any interest and penalties, on the issue and sale of the Placement Shares sold by it hereunder and on the execution and delivery of this Agreement. All payments to be made by the Corporation hereunder shall be made without withholding or deduction for or on account of any present or future taxes, duties or governmental charges whatsoever unless the Corporation is compelled by law to deduct or withhold such taxes, duties or charges. In that event, the Corporation shall pay such additional amounts as may be necessary in order that the net amounts received after such withholding or deduction shall equal the amounts that would have been received if no withholding or deduction had been made.
12.3 Each of the Agents severally and not jointly agrees to indemnify and hold harmless the Corporation, each officer of the Company its directors, each of its officers who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or severalCanadian Prospectus Supplements and/or Registration Statement, to which the Company same extent as the foregoing indemnity and the indemnity attached as Schedule 2 from the Corporation to each Agent, but only with reference to statements relating solely to any Agent or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained Agents in the registration statement under Agreement, Registration Statement, Prospectuses and Disclosure Package which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, have been furnished in writing to the Company Corporation by such Seller or on behalf of any Agent or Agents specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shallinclusion, if a claim any, or any amendments thereto or supplements. This indemnity will be in respect thereof is addition to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it any Underwriter may have to such indemnified party other than under this Section 9.6(c) and shall otherwise have. The Corporation acknowledges that the names of the Agents set forth on the cover of the Prospectus Supplements constitutes the only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and information furnished in writing to the extent the indemnifying party is prejudiced Corporation by such omission. In case or on behalf of any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) Agent or Agents specifically for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate inclusion in the defense of such actionAgreement, with the reasonable expenses Registration Statement, Prospectuses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the SellerDisclosure Package, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment amendments thereto or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentationsupplements.
Appears in 2 contracts
Sources: Equity Distribution Agreement (Westport Fuel Systems Inc.), Equity Distribution Agreement (Westport Fuel Systems Inc.)
Indemnification and Contribution. (a) In the event of a any registration of any Registrable Securities under the Securities Act pursuant to this Section 9, 5:
(i) the Company will shall indemnify and hold harmless each Sellerthe holder of such Registrable Securities, each officer of each Seller, each director of each Sellersuch holder’s directors and officers, each underwriter who participated in the offering of such Registrable Securities thereunder and each other personPerson, if any, who controls any such Seller holder or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch holder, such director or such officer or underwriter or controlling person Person may become subject under the Securities Act or otherwiseany other statute or at common law, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon on (a) any untrue statement or alleged untrue statement of any material fact contained contained, on the effective date thereof, in any registration statement under which such Registrable Securities was securities were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereofthereto, or arise out of or are based upon the omission or (b) any alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will shall reimburse the Sellersuch holder or such director, each such officer, underwriter and each such or controlling person Person for any legal or any other expenses reasonably incurred by them such holder or such director, officer, underwriter or controlling Person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that but the Company will shall not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an on (i) any alleged untrue statement or alleged untrue statement omission made in such registration statement, preliminary prospectus, prospectus or omission amendment or alleged omission so made supplement in reliance on and in conformity with written information furnished to the Company by any such Sellerholder, the director, officer, underwriter or any such controlling person in writing Person, as the case may be, specifically for use in such therein or (ii) a failure by the indemnified party to deliver a copy of the registration statement or prospectus.prospectus or an amendment or supplement thereto after the Company has furnished the indemnified party with a sufficient number of copies of the same. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such holder or such director, officer, underwriter or controlling Person, and shall survive the transfer of such securities by such holder;
(bii) In the event of a registration Each holder of any of the Registrable Securities under the Act pursuant Securities, by acceptance thereof, agrees to Section 9, the Seller will indemnify and hold harmless the Company, its directors and officers and each personother Person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, Act against all any losses, claims, damages or liabilities, joint or several, to which the Company Company, any such director or such officer or director any such Person may become subject under the Securities Act or otherwiseany other statute or at common law, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon on information in writing provided to the Company by such holder of such Registrable Securities contained, on the effective date thereof, in any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities securities were registered under the Securities Act pursuant to Section 9at the request of such holder, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each thereto; but such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder holder’s indemnification obligations under this subsection 5D(ii) shall be limited to the proportion of any such loss, claim, damage, liability or expense which is an amount equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds actually received by the Seller holder from the sale of Registrable Securities covered by such the applicable registration statement.;
(ciii) Promptly after receipt by If the indemnification provided for in this Section 5 from the indemnifying party is unavailable to an indemnified party hereunder of notice of the commencement in respect of any actionlosses, claims, damages, liabilities or expenses referred to herein, then the indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or payable by such indemnified party shallas a result of such losses, if a claim claims, damages, liabilities or expenses in respect thereof such proportion as is appropriate to be made against reflect the relative fault of the indemnifying party hereunderand indemnified parties in connection with the actions that resulted in such losses, notify the claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative fault of such indemnifying party and indemnified parties shall be determined by reference to, among other things, whether any action in writing thereofquestion, but the including any untrue or alleged untrue statement of a material fact or omission so or alleged omission to notify the state a material fact, has been made by, or relates to information supplied by, such indemnifying party shall not relieve it from any liability which it may have or indemnified parties, and the parties relative intent, knowledge, access to information and opportunity to correct or prevent such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified action. The amount paid or payable by a party under this Section 9.6(c) if 5 as a result of the losses, claims, damages, liabilities and expenses referred to the extent the indemnifying party is prejudiced by such omission. In case any such action above shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled deemed to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for include any legal or other fees or expenses subsequently reasonably incurred by such indemnified party in connection with the defense thereof other than reasonable costs of any investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded or proceeding. The parties hereto agree that there may it would not be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable if contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially subsection 5D(iii) were determined (by the entry pro rata allocation or by any other method of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial allocation that does not take account of the last right of appeal) that such indemnification may not be enforced equitable considerations referred to in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity immediately preceding paragraph. No Person guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity Person who was not guilty of such fraudulent misrepresentation.
(iv) If any action or proceeding (including any governmental investigation or inquiry) shall be brought or asserted against any holder or any Person controlling a holder in respect of which indemnity may be sought from the Company, such holder or controlling Person shall promptly notify the Company in writing, and the Company shall assume the defense thereof, including the employment of counsel satisfactory to a majority of the holders to be indemnified and the payment of all reasonable expenses in relation thereto. All such holders or such controlling Persons shall have the right to employ, at their own expense, one counsel plus additional local counsel in any such action and to participate in the defense thereof; provided that if in the reasonable judgment of such holders or such controlling Persons, a conflict of interest exists and it is therefore advisable for such holders or controlling Persons to be jointly represented by separate counsel, then the Company shall pay the reasonable fees and expenses of one such separate counsel, and local counsel, as appropriate, for all such holders and controlling Persons. The Company shall not be liable for any settlement of any such action or proceeding effected without its written consent, but if settled with its written consent, or if there be a final judgment for the plaintiff in any such action or proceeding, the Company agrees to indemnify and hold harmless each holder and any such controlling Person from and against any loss or liability by reason of such settlement or judgment; and
(v) Indemnification similar to that specified in subsections (i) and (ii) of this Section 5D shall be given by the Company and each holder (with such modifications as shall be appropriate) with respect to any required registration, or other qualification of the Registrable Securities under any Federal or state law or regulation of any governmental authority other than the Securities Act.
Appears in 2 contracts
Sources: Stock Purchase Warrant (Majesco), Stock Purchase Warrant (Majesco)
Indemnification and Contribution. (a) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9Sections 4, 5 or 6, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Registrable Securities thereunder, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9Sections 4, the Seller 5 or 6, each seller of such Registrable Securities thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 9 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registrable Securities exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.69; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Registrable Securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Registrable Securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Registration Rights Agreement (China Power Technology, Inc.), Registration Rights Agreement (China Power Technology, Inc.)
Indemnification and Contribution. (a) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each SellerSelling Stockholder, each underwriter of such Registrable Securities thereunder Shares, and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch Selling Stockholder, or such underwriter or controlling person may become subject under the Securities Act Act, the Exchange Act, state securities or Blue Sky laws or otherwise, but only insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was Shares were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus Prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto such Registration Statement, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, ; and the Company will reimburse the Sellersuch Selling Stockholder, each such underwriter and each such controlling person for any legal or any other expenses reasonably incurred by them such Selling Stockholder, underwriter or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged any untrue statement or omission made in such Registration Statement, preliminary prospectus or alleged omission so made prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by any or on behalf of such SellerSelling Stockholder, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectusthe preparation thereof.
(b) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Seller each Selling Stockholder, severally and not jointly, will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each person, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, each officer of the Company who signs the registration statement and each director of the Company, against all any losses, claims, damages or liabilities, joint or several, to which the Company Company, such directors and officers, underwriter or such officer or director controlling person may become subject under the Securities Act Act, Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in the registration statement any Registration Statement under which such Registrable Securities Shares were registered under the Securities Act pursuant to Section 9Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto the Registration Statement, or arise out of or are based upon the any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse if the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining relating to such Seller, as such, Selling Stockholder furnished in writing to the Company by or on behalf of such Seller Selling Stockholder specifically for use in connection with the preparation of such registration statement or Registration Statement, prospectus, and amendment or supplement; provided, further, however, that the liability obligations of the Seller a Selling Stockholder hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is an amount equal to the proportion that the public offering price net proceeds to such Selling Stockholder of the Registrable Securities Shares sold by the Seller under in connection with such registration statement bears to the total public offering price (except in case of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered fraud by such registration statementSelling Stockholder).
(c) Promptly Each party entitled to indemnification under this Section (the "Indemnified Party") shall give notice to the party required to provide indemnification (the "Indemnifying Party") promptly after receipt by an indemnified party hereunder of notice of the commencement such Indemnified Party has actual knowledge of any actionclaim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such indemnified party shallclaim or any litigation resulting therefrom; provided, if a that counsel for the Indemnifying Party, who shall conduct the defense of such claim in respect thereof is or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld); and, provided, further, that the failure of any Indemnified Party to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party give notice as provided herein shall not relieve it from any liability which it may have to such indemnified party other than the Indemnifying Party of its obligations under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and except to the extent that the indemnifying party Indemnifying Party is prejudiced adversely affected by such omissionfailure. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to The Indemnified Party may participate in and, to the extent it shall wish, to assume and undertake the such defense thereof with counsel satisfactory to at such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, 's expense; provided, however, that, that the Indemnifying Party shall pay such expense if representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests between the Indemnified Party and any other party represented by such counsel in such proceeding; provided further that in no event shall the Indemnifying Party be required to pay the expenses of more than one law firm per jurisdiction as counsel for the Indemnified Party. The Indemnifying Party also shall be responsible for the expenses of such defense if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and Indemnifying Party does not elect to assume such legal defenses and otherwise to participate defense. No Indemnifying Party, in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such separate counsel claim or litigation, and other expenses related no Indemnified Party shall consent to entry of any judgment or settle such participation to claim or litigation without the prior written consent of the Indemnifying Party, which consent shall not be reimbursed by the indemnifying party as incurredunreasonably withheld.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case circumstances in which either (i) the Seller, or any controlling person of the Seller, makes a claim indemnification provided for indemnification pursuant to in this Section 9.6 5 is due in accordance with its terms but it for any reason is judicially determined (by held to be unavailable to an Indemnified Party in respect to any losses, claims, damages and liabilities referred to herein, then the entry Indemnifying Party shall, in lieu of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that indemnifying such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such caseIndemnified Party, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate amount paid or payable by such Indemnified Party as a result of such losses, claims, damages or liabilities to which they such party may be subject (after contribution from others) in such proportion so that as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented Company on the one hand and the Stockholders on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Stockholders shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of material fact related to information supplied by the percentage Company or the Stockholders and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Stockholders agree that it would not be just and equitable if contribution pursuant to this Section 5 were determined by pro rata allocation or by any other method of allocation which does not take account of the public offering price equitable considerations referred to above. Notwithstanding the provisions of its securities offered by the registration statement bears to the public offering price this paragraph of all securities offered by such registration statement, provided, however, that, in any such caseSection 5, (Aa) the Seller will not in no case shall any one Stockholder be required to contribute liable or responsible for any amount in excess of the public net proceeds received by such Stockholder from the offering price of all Registrable Shares except in case of fraud by such securities offered by it pursuant to such registration statement; Stockholder and (Bb) the Company shall be liable and responsible for any amount in excess of such proceeds; provided, however, that no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. Any party entitled to contribution will, promptly after receipt of notice of commencement of any action, suit or proceeding against such party in respect of which a claim for contribution may be made against another party or parties under this Section, notify such party or parties from whom contribution may be sought, but the omission so to notify such party or parties from whom contribution may be sought shall not relieve such party from any other obligation it or they may have thereunder or otherwise under this Section. No party shall be liable for contribution with respect to any action, suit, proceeding or claim settled without its prior written consent, which consent shall not be unreasonably withheld.
Appears in 2 contracts
Sources: Placement Agent Registration Rights Agreement (Marc Pharmaceuticals Inc), Placement Agent Registration Rights Agreement (Searchhelp Inc)
Indemnification and Contribution. (a) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9Act, the Company will indemnify and hold harmless each Seller, holder of Registrable Securities included in such registration and each officer of each Seller, each director of each Sellerits directors and officers, each underwriter of such Registrable Securities thereunder and each of its directors and officers, and each other personperson and each of its directors and officers, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act or the Securities Exchange Act of 1934, as amended from time to time (the "Exchange Act"), or otherwise, against any losses, claims, damages or liabilitiesliabilities (or actions in respect thereof), joint or several, to which such seller, underwriter or controlling person (or their respective directors and officers) may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such losses, claims, damages or liabilities (and each of its directors and officers or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities were registered under the Securities Act, any preliminary prospectus or final prospectus contained in the registration statement, or any amendment or supplement to such registration statement, or arise out of or are based upon the omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading; and the Company will reimburse such seller, underwriter and each such controlling person (and their respective directors and officers) for any legal or any other expenses reasonably incurred by such seller, underwriter or controlling person (and their respective directors and officers) in connection with investigating or defending any such loss, claim, damage, liability or action; provided that the Company will not have any liability (and shall not be required to provide such indemnity and hold harmless obligation) to the extent that any such loss, claim, damage or liability arises out of or is based upon any untrue statement or omission made in such registration statement, preliminary prospectus or prospectus, or any such amendment or supplement, in reliance upon and in conformity with written information furnished to the Company through an instrument duly executed by or on behalf of such holder of Registrable Securities or underwriter specifically for use in preparation thereof.
(b) In the event of any registration of any of the Registrable Securities under the Securities Act, each holder of Registrable Securities included in such registration, severally and not jointly, will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each of its directors and officers and each person and each of its directors and officers, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, against losses, claims, damages or liabilities (or actions in respect thereof), joint or several, to which the SellerCompany, or such directors and officers, underwriter or controlling person (or their respective directors and officers) may become subject under the Securities Act, Exchange Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in any registration statement under which such Registrable Securities was were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the registration statement, or any amendment or supplement thereofto the registration statement, or arise out of or are based upon the any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse if the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by or on behalf of such Seller holder, specifically for use in connection with the preparation of such registration statement statement, prospectus, amendment or prospectussupplement; provided the liability of each holder of Registrable Securities pursuant to this Section 8.6(b) shall be limited to the proceeds actually received by such holder from the disposition of the Registrable Securities disposed of by such holder pursuant to such registration.
(c) Each party entitled to indemnification under this Section 8.6 (the "Indemnified Party") shall give notice to the party required to provide indemnification (the "Indemnifying Party") promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any litigation resulting therefrom, provided that counsel for the Indemnifying Party, who shall conduct the defense of such claim or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld, delayed or conditioned), and the Indemnified Party may participate in such defense at such party's expense, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion failure of any such loss, claim, damage, liability or expense which is equal Indemnified Party to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of give notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party as provided herein shall not relieve it from any liability which it may have to such indemnified party other than the Indemnifying Party of its obligations under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if 8.6 (except and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party rights of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after Indemnifying Party are materially prejudiced thereby). After notice from the indemnifying party Indemnifying Party to such indemnified party the Indemnified Party of its election so to assume and undertake the defense thereofof such claim or litigation, the indemnifying party shall Indemnifying Party will not be liable to such indemnified party under this Section 9.6(c) Indemnified Party for any legal or other expenses subsequently incurred by such indemnified party Indemnified Party in connection with the defense thereof other than reasonable costs of investigation so long as and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if extent the interests of Indemnifying Party continues to defend the indemnified party reasonably may be deemed to conflict with Indemnified Party, unless the interests of the indemnifying partyIndemnifying Party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of such separate counsel and other expenses related each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such participation Indemnified Party of a release from all liability in respect to be reimbursed by the indemnifying party as incurredsuch claim or litigation.
(d) In order To the extent the Company after the date hereof shall agree to provide for just and equitable contribution in any written agreement entered into with the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person stockholders of the SellerCompany if the indemnification obligations are otherwise unavailable, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, then the Company and the Seller will contribute shall provide such similar rights to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) Warrantholders in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentationtheir shares.
Appears in 2 contracts
Sources: Warrant Agreement (Infinity Inc), Warrant Agreement (Gexa Corp)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 4, 5 or 6, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, howeverPROVIDED, HOWEVER, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9Sections 4, the Seller 5 or 6, each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, providedPROVIDED, howeverHOWEVER, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and providedPROVIDED, furtherFURTHER, howeverHOWEVER, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Restricted Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 9 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, providedPROVIDED, howeverHOWEVER, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.69; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Restricted Stock offered by the registration statement bears to the public offering price of all securities offered by such registration statement, providedand the Company is responsible for the remaining portion; PROVIDED, howeverHOWEVER, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Restricted Stock offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Registration Rights Agreement (Concord Communications Inc), Registration Rights Agreement (Versatility Inc)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant to Section 9, the Company Transferor will indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder Underwriter and each other person, if any, Person who controls any such Seller or underwriter Underwriter within the meaning of the Securities Act, Act against any losses, claims, damages or liabilities, joint or several, to which the Seller, Underwriters or such underwriter or controlling person any of them may become subject under the Securities Act or otherwisesubject, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under Registration Statement, the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, Prospectus or any amendment or supplement thereofthereto, or any related preliminary prospectus, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company each Underwriter and each such officer or director Person who controls any Underwriter within the meaning of the Securities Act for any actual legal or other expenses reasonably incurred by them the Underwriter in connection with investigating or defending any such loss, claim, damage, liability or action, action as such expenses are incurred; provided, however, that the Seller Transferor will not be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement in or omission or alleged omission from any of such documents in reliance upon and in conformity with written information furnished to Transferor by any Underwriter specifically for use therein.
(b) Each Underwriter, severally, agrees to indemnify and hold harmless Transferor against any losses, claims, damages or liabilities to which Transferor may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the Registration Statement, the Prospectus or any amendment or supplement thereto, or any related preliminary prospectus, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information pertaining furnished to such Seller, as such, furnished in writing to the Company Transferor by such Seller Underwriter specifically for use in such registration statement or prospectustherein, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of will reimburse any actual legal or other expenses reasonably incurred by Transferor in connection with investigating or defending any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under action as such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementexpenses are incurred.
(c) Promptly after receipt by an indemnified party hereunder under this Section of notice of the commencement of any actionaction or the assertion by a third party of a claim, such indemnified party shallwill, if a claim in respect thereof is to be made against the indemnifying party hereunderunder subsection (a) or (b) above, notify the indemnifying party in writing of the commencement thereof, ; but the omission so to notify the indemnifying party shall will not relieve it from any liability which it may have to such any indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if except and to the extent the of any prejudice to such indemnifying party is prejudiced by arising from such omissionfailure to provide such notice. In case any such action shall be is brought against any indemnified party and it shall notify notifies the indemnifying party of the commencement thereof, the indemnifying party shall will be entitled to participate in therein and, to the extent that it shall may wish, jointly with any other indemnifying party similarly notified, to assume and undertake the defense thereof thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, andbe counsel to the indemnifying party), and after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall will not be liable to such indemnified party under this Section 9.6(c) for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the investigation. No indemnifying party and shall, without the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests prior written consent of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, effect any settlement of any pending or threatened action in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party unless such settlement includes an unconditional release of such indemnified party from all liability on any claims that are the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense subject matter of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide If the indemnification provided for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined unavailable or insufficient to hold harmless an indemnified party under subsection (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeala) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (iib) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; thenabove, and in then each such case, the Company and the Seller will indemnifying party shall contribute to the aggregate amount paid or payable by such indemnified party as a result of the losses, claims, damages or liabilities referred to which they may be subject in subsection (after contribution from othersa) or (b) above (i) in such proportion so that as is appropriate to reflect the Seller relative benefits received by Transferor on the one hand and the Underwriters on the other from the offering of the Class B Certificates or (ii) if the allocation provided by clause (i) above is responsible not permitted by applicable law, in such proportion as is appropriate to reflect not only for the portion represented relative benefits referred to in clause (i) above but also the relative fault of Transferor on the one hand and the Underwriters on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities as well as any other relevant equitable considerations. The relative benefits received by Transferor on the one hand and the Underwriters on the other shall be deemed to be in the same proportion as the total net proceeds from the offering of the Class B Certificates (before deducting expenses) received by Transferor bear to the total underwriting discounts and commissions received by the percentage that Underwriters. The relative fault shall be determined by reference to, among other things, whether the public offering price untrue or alleged untrue statement of its securities offered a material fact or the omission or alleged omission to state a material fact relates to information supplied by Transferor or the registration Underwriters and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement bears or omission. The amount paid by an indemnified party as a result of the losses, claims, damages or liabilities referred to in the public offering price first sentence of all securities offered this subsection (d) shall be deemed to include any legal or other expenses reasonably incurred by such registration statementindemnified party in connection with investigating or defending any action or claim which is the subject of this subsection (d). Notwithstanding the provisions of this subsection (d), provided, however, that, in any such case, (A) the Seller will not no Underwriter shall be required to contribute any amount in excess of the public offering price of all underwriting discount applicable to the Class B Certificates purchased by such securities offered by it pursuant to such registration statement; and (B) no person or entity Underwriter hereunder. No Person guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity Person who was not guilty of such fraudulent misrepresentation.
(e) The obligations of Transferor under this Section shall be in addition to any liability that Transferor may otherwise have and shall extend, upon the same terms and conditions, to each Person, if any, who controls any Underwriter within the meaning of the Securities Act; and the obligations of any Underwriter under this Section shall be in addition to any liability that such Underwriter may otherwise have and shall extend, upon the same terms and conditions, to each director of Transferor, to each officer of Transferor who signed the Registration Statement and to each Person, if any, who controls Transferor within the meaning of the Securities Act.
Appears in 2 contracts
Sources: Underwriting Agreement (Mellon Premium Finance Loan Owner Trust), Underwriting Agreement (Mellon Bank Premium Finance Master Trust)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9hereto, the Company will and hereby does indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9hereto, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, howeverPROVIDED, HOWEVER, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9hereto, the Seller each seller of such Restricted Stock thereunder severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each other seller of Restricted Stock, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, other seller, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 9hereto, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not no misleading, and will reimburse the Company and each such officer or director officer, director, other seller, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, providedPROVIDED, howeverHOWEVER, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, PROVIDED FURTHER that the liability of the Seller each seller hereunder shall be limited not apply to the proportion of any amounts paid in settlement without such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementseller's prior written consent.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 10 and shall only relieve relive it from any liability which it may have to such indemnified party under this Section 9.6(c) 10 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 10 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, providedPROVIDED, howeverHOWEVER, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany Holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such Holder, makes a claim for indemnification pursuant to this Section 9.6 10 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 10 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling Holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.610; then, and in each such case, the Company and the Seller such Holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such Holder is responsible only for the portion represented by the percentage that the public offering price of its securities Restricted Stock offered by the registration statement bears to the public offering price of all securities offered by such registration statement, providedand the Company is responsible for the remaining portion; PROVIDED, howeverHOWEVER, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
(e) Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control.
(f) The obligations of the Company and Holders under this Section 10 shall survive the completion of any offering of Restricted Stock in a registration statement under Section 4, 5 or 13 of this Agreement, and otherwise.
Appears in 2 contracts
Sources: Registration Rights Agreement (Paracelsian Inc /De/), Stock Purchase Agreement (Biomar International Inc)
Indemnification and Contribution. (a) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each SellerSelling Stockholder, each underwriter of such Registrable Securities thereunder Shares, and each other person, if any, who controls any such Seller Selling Stockholder or underwriter within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch Selling Stockholder, or such underwriter or controlling person may become subject under the Securities Act Act, the Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was Shares were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto such Registration Statement, or arise out of or are based upon (ii) the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law in connection with the Registration Statement or the offering contemplated thereby; and the Company will reimburse the Sellersuch Selling Stockholder, each such underwriter and each such controlling person for any legal or any other expenses reasonably incurred by them such Selling Stockholder, underwriter or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged any untrue statement or omission made in such Registration Statement, preliminary prospectus or alleged omission so made prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by any or on behalf of such SellerSelling Stockholder, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectusthe preparation thereof.
(b) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Seller each Selling Stockholder, severally and not jointly, will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each person, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, each officer of the Company who signs the registration statement and each director of the Company, against all any losses, claims, damages or liabilities, joint or several, to which the Company Company, such directors and officers, underwriter or such officer or director controlling person may become subject under the Securities Act Act, Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any a material fact contained in the registration statement any Registration Statement under which such Registrable Securities Shares were registered under the Securities Act pursuant to Section 9Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto the Registration Statement, or arise out of or are based upon the (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if and will reimburse to the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if extent (and only to the extent extent) that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue the statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining relating to such Seller, as such, Selling Stockholder furnished in writing to the Company by such Seller Selling Stockholder specifically for use in connection with the preparation of such registration statement or Registration Statement, prospectus, and amendment or supplement; provided, further, however, that the liability obligations of the Seller a Selling Stockholder hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is an amount equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale to such Selling Stockholder of Registrable Securities covered by Shares sold in connection with such registration statementregistration.
(c) Promptly Each Indemnified Party shall give notice to the Indemnifying Party promptly after receipt by an indemnified party hereunder of notice of the commencement such Indemnified Party has actual knowledge of any actionclaim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such indemnified party shallclaim or any litigation resulting therefrom; provided, if a that counsel for the Indemnifying Party, who shall conduct the defense of such claim in respect thereof is or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld, conditioned or delayed); and, provided, further, that the failure of any Indemnified Party to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party give notice as provided herein shall not relieve it from any liability which it may have to such indemnified party other than the Indemnifying Party of its obligations under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and 2.5 except to the extent that the indemnifying party Indemnifying Party is prejudiced adversely affected by such omissionfailure. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to The Indemnified Party may participate in and, to the extent it shall wish, to assume and undertake the such defense thereof with counsel satisfactory to at such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, 's expense; provided, however, that, that the Indemnifying Party shall pay such expense if the defendants Indemnified Party reasonably concludes that representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests between the Indemnified Party and any other party represented by such counsel in any such action include both proceeding; provided further that in no event shall the indemnified party and Indemnifying Party be required to pay the indemnifying party and expenses of more than one counsel per jurisdiction for the indemnified party Indemnified Party. The Indemnifying Party also shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to responsible for the indemnifying party or expenses of such defense if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and Indemnifying Party does not elect to assume such legal defenses and otherwise to participate defense. No Indemnifying Party, in the defense of any such actionclaim or litigation, shall, except with the reasonable expenses and fees consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such separate counsel claim or litigation, and other expenses related no Indemnified Party shall consent to entry of any judgment or settle such participation to claim or litigation without the prior written consent of the Indemnifying Party, which consent shall not be reimbursed by the indemnifying party as incurredunreasonably withheld, conditioned or delayed.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case circumstances in which either (i) the Seller, or any controlling person of the Seller, makes a claim indemnification provided for indemnification pursuant to in this Section 9.6 2.5 is due in accordance with its terms but it for any reason is judicially determined (by held to be unavailable to an Indemnified Party in respect to any losses, claims, damages and liabilities referred to herein, then the entry Indemnifying Party shall, in lieu of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that indemnifying such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such caseIndemnified Party, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate amount paid or payable by such Indemnified Party as a result of such losses, claims, damages or liabilities to which they such party may be subject (after contribution from others) in such proportion so that as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented Company, on the one hand, and the Selling Stockholders, on the other hand, in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Selling Stockholders shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of material fact related to information supplied by the percentage Company or the Selling Stockholders and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Selling Stockholders agree that it would not be just and equitable if contribution pursuant to this Section 2.5(d) were determined by pro rata allocation or by any other method of allocation which does not take account of the public offering price equitable considerations referred to above. Notwithstanding the provisions of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such casethis Section 2.5(d), (Ai) the Seller will not in no case shall any one Selling Stockholder be required to contribute liable or responsible for any amount in excess of the public net proceeds received by such Selling Stockholder from the offering price of all such securities offered by it pursuant to such registration statement; Registrable Shares or Questar Registrable Shares, as applicable and (Bii) the Company shall be liable and responsible for any amount in excess of such proceeds; provided, however, that no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. Any party entitled to contribution will, promptly after receipt of notice of commencement of any action, suit or proceeding against such party in respect of which a claim for contribution may be made against another party or parties under this Section 2.5(d), notify such party or parties from whom contribution may be sought, but the omission so to notify such party or parties from whom contribution may be sought shall not relieve such party from any other obligation it or they may have thereunder or otherwise under this Section 2.5(d). No party shall be liable for contribution with respect to any action, suit, proceeding or claim settled without its prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed.
(e) The rights and obligations of the Company and the Selling Stockholders under this Section 2.5 shall survive the termination of this Agreement.
Appears in 2 contracts
Sources: Investor Rights Agreement (Touchstone Applied Science Associates Inc /Ny/), Series a Convertible Preferred Stock Purchase Agreement (Touchstone Applied Science Associates Inc /Ny/)
Indemnification and Contribution. (a) In the event of a registration of any of the Registrable Securities Stock under the Securities Act pursuant to Section 9Sections 2 or 3, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each SellerRegistrable Stock thereunder, each underwriter of such Registrable Securities Stock thereunder and each other person, if any, who controls any or is alleged to control such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was Stock were registered under the Securities Act pursuant to Section 9Sections 2 or 3, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or arises out of or are based upon any violation or alleged violation of any federal, state or other law, rule or regulation relating to any action or inaction in connection therewith, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in to any such case indemnitee if and to the extent that any such loss, claim, damage or liability arises solely out of or is based solely upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information with respect to such indemnitee furnished by any such Seller, the underwriter or any such controlling person indemnitee in writing specifically for use in such registration statement or prospectus. The indemnities of the Company contained in this Section 6 shall remain in full force and effect regardless of any investigation made by or on behalf of such indemnified person and shall survive any transfer of Registrable Stock.
(b) In the event of a registration of any of the Registrable Securities Stock under the Securities Act pursuant to Section 9Sections 2 or 3, the Seller each seller of such Registrable Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Stock was registered under the Securities Act pursuant to Section 9Sections 2 or 3, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises solely out of or is based solely upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Stock covered by such registration statementstatement (after deduction of all underwriters’ discounts and commissions and all other expenses and damages paid by such seller in connection with the registration in question). Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the Company or any such director, officer, underwriter or controlling person and shall survive any transfer of Registrable Stock.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 6 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 6 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 6 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred. No indemnifying party, in the defense of any such claim or litigation, shall, except with the consent of each indemnified party, consent to entry of any judgment or enter into any settlement unless such judgment or settlement includes as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation, includes only money damages (as opposed to equitable relief) and does not include any statement as to the fault or culpability of such indemnified party.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registrable Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.66; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the aggregate public offering price of its securities Registrable Stock offered by the registration statement bears to the aggregate public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price net proceeds received by it from the sale of all such securities Registrable Stock offered by it pursuant to such registration statementstatement (after deduction of all underwriters’ discounts and commissions and all other damages and expenses paid by such seller in connection with the registration in question); and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Investor Rights Agreement (Bain Capital Venture Integral Investors, LLC), Investor Rights Agreement (Edgar Online Inc)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant to Section 9, the The Company will shall indemnify and hold harmless each SellerUnderwriter, each officer of each Sellerits affiliates, each director of each Sellertheir respective officers, each underwriter of such Registrable Securities thereunder directors, employees, agents and each other person, if any, who controls any such Seller or underwriter Underwriter within the meaning of Section 15 of the Securities Act, Act against any losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter or controlling person Underwriter may become subject subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any an untrue statement or alleged untrue statement of any a material fact contained in any registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9Registration Statement, any preliminary prospectus Preliminary Prospectus, the Time of Sale Prospectus or final prospectus contained thereinthe Prospectus, or any amendment or supplement thereto, or any Issuer Free Writing Prospectus or any “issuer information” filed or required to be filed pursuant to Rule 433(d) under the Securities Act Regulations, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and will reimburse each Underwriter for any legal or other expenses reasonably incurred by such Underwriter in connection with investigating or defending against any such loss, claim, damage, liability or action as such expenses are incurred; provided, however, that the Company shall not be liable in any such case to the extent that any such loss, claim, damage, action or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in the Registration Statement, any Preliminary Prospectus, the Time of Sale Prospectus or the Prospectus, or any amendment or supplement thereto, or any Issuer Free Writing Prospectus, in reliance upon and in conformity with written information furnished to the Company by an Underwriter expressly for inclusion therein, which information consists solely of the information set forth in the letter referred to in Section 7(e).
(b) Each Underwriter, severally and not jointly, shall indemnify and hold harmless the Company, its affiliates, their respective officers, directors, employees, agents and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act against any losses, claims, damages or liabilities to which the Company may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, any Preliminary Prospectus, the Time of Sale Prospectus or the Prospectus, or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse in each case to the Sellerextent, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, howeverbut only to the extent, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so was made in conformity with information furnished by the Registration Statement, any such SellerPreliminary Prospectus, the underwriter Time of Sale Prospectus or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained thereinProspectus, or any amendment or supplement thereofthereto, or arise out in reliance upon and in conformity with written information furnished to the Company by such Underwriter expressly for inclusion therein, which information consists solely of or are based upon the omission or alleged omission information set forth in the letter referred to state therein a material fact required to be stated therein or necessary to make the statements therein not misleadingin Section 7(e), and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them the Company in connection with investigating or defending against any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any action as such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementexpenses are incurred.
(c) Promptly after receipt by an indemnified party hereunder under this Section 7 of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunderunder subsection (a) or (b) above, notify the indemnifying party in writing of the commencement thereof, ; but the omission so to notify the indemnifying party shall will not relieve it from any liability which it may have to such any indemnified party other otherwise than under this Section 9.6(csubsection (a) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(cor (b) if and to the extent the indemnifying party is prejudiced by such omissionabove. In case any such action shall be is brought against any indemnified party and it shall notify notifies the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in therein and, to the extent that it shall may wish, jointly with any other indemnifying party similarly notified, to assume and undertake the defense thereof thereof, with counsel satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party), and, except as provided in the following sentence, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall will not be liable to such indemnified party under this Section 9.6(c) 7 for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation investigation. After notice from the indemnifying party to the indemnified party of the indemnifying party’s election to assume the defense of such action, the indemnified party shall have the right to employ its own counsel in any such action, but the fees and expenses of liaison with such counsel so selectedshall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, provided, however, that, (ii) if the defendants named parties in any such action include both the indemnified indemnifying party and the indemnifying indemnified party and the indemnified party shall have reasonably concluded that there is an actual or potential conflict between the positions of the indemnifying party and the indemnified party in conducting the defense of any such action or that there may be reasonable legal defenses available to it which or other indemnified parties that are different from or additional to those available to the indemnifying party or if (iii) the interests indemnifying party shall not have employed counsel to assume the defense of such action within a reasonable time after notice of commencement thereof, in each of which cases the fees and expenses of such counsel shall be at the expense of the indemnifying party (it being understood, however, that the indemnifying party shall not be liable for the fees and expenses of more than one separate counsel in addition to any counsel). No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified party is an actual or potential party to such action or claim) unless such settlement, compromise or judgment (1) includes an unconditional release of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense from all liability arising out of such actionaction or claim and (2) does not include a statement as to or an admission of fault, with the reasonable expenses and fees culpability or failure to act by or on behalf of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurredany indemnified party.
(d) In order to provide If the indemnification provided for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it 7 is judicially determined unavailable to or insufficient to hold harmless an indemnified party under subsection (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeala) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (iib) contribution under the Securities Act may be required on the part above in respect of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate any losses, claims, damages or liabilities (or actions in respect thereof) referred to which they may be subject therein, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (after contribution from othersor actions in respect thereof) in such proportion so that as is appropriate to reflect the Seller is responsible only for the portion represented relative benefits received by the percentage that Company and the public Underwriters, respectively, from the offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, providedSecurities. If, however, thatthe allocation provided by the immediately preceding sentence is not permitted by applicable law, then each indemnifying party shall contribute to such amount paid or payable by such indemnified party in such proportion as is appropriate to reflect not only the relative benefits but also the relative fault of the Company and the Underwriters, respectively, in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant equitable considerations. The relative benefits received by the Company and the Underwriters, respectively, shall be deemed to be in the same proportion as the total net proceeds from the offering (net of underwriting discounts and commissions but before deducting expenses) received by the Company, bear to the total underwriting discounts and commissions received by the Underwriters, in each case as set forth in the table on the cover page of the Prospectus. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or the Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The Company and the Underwriters agree that it would not be just and equitable if contributions pursuant to this subsection (d) were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to above in this subsection (d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages or liabilities (or actions in respect thereof) referred to above in this subsection (d) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such caseaction or claim based upon any such untrue or alleged untrue statement or omission or alleged omission. Notwithstanding the provisions of this subsection (d), (A) the Seller will not no Underwriter shall be required to contribute any amount in excess of the public offering price amount by which the underwriting discounts and commissions applicable to the Securities purchased by such Underwriter exceeds the amount of all any damages that such securities offered Underwriter has otherwise been required to pay by it pursuant to reason of any such registration statement; and (B) no untrue or alleged untrue statement or omission or alleged omission. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
(e) Prior to the First Delivery Date, the Underwriters shall deliver a letter to the Company identifying the statements furnished by them in writing expressly for inclusion in the Registration Statement, any Preliminary Prospectus, the Time of Sale Prospectus and the Prospectus, or any Issuer Free Writing Prospectus. The Company hereby acknowledges that the only information that the Underwriters have furnished to the Company expressly for inclusion the Registration Statement, any Preliminary Prospectus, the Time of Sale Prospectus and the Prospectus, or any Issuer Free Writing Prospectus are the statements to be contained in such letter.
Appears in 2 contracts
Sources: Underwriting Agreement (Kodiak Oil & Gas Corp), Underwriting Agreement (Kodiak Oil & Gas Corp)
Indemnification and Contribution. (a) In To the extent permitted by law, in the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 94, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 94, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances in which they were made, or arise out of any violation by the Company of any rule or regulation promulgated under the Securities Act applicable to the Company and relating to action or inaction required of the Company in connection with such registration and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in -------- ------- any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus, and except that the foregoing indemnity agreement is subject to the condition that, insofar as it relates to any such untrue statement or alleged untrue statement or omission or alleged omission made in the preliminary prospectus but eliminated or remedied in the amended prospectus on file with the Commission at the time the registration statement becomes effective or in the amended prospectus filed with the Commission pursuant to Rule 424(b) or in the prospectus subject to completion and term sheet under Rule 434 of the Securities Act, which together meet the requirements of Section 10(a) of the Securities Act (the "Final Prospectus"), such indemnity agreement shall not inure to the benefit of any such seller, any such underwriter or any such controlling person, if a copy of the Final Prospectus was not furnished to the person or entity asserting the loss, liability, claim or damage at or prior to the time such furnishing is required by the Securities Act; provided, further, that this -------- ------- indemnity shall not be deemed to relieve any underwriter of any of its due diligence obligations.
(b) In To the extent permitted by law, in the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 94, the Seller each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the any registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 94, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading in the light of the circumstances in which they were made, and will reimburse the Company and each such officer officer, director, underwriter or director controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if -------- ------- and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in reliance upon and in conformity with information pertaining to such Seller, as such, seller furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, -------- further, however, that the liability foregoing indemnity agreement is subject to the condition ------- that, insofar as it relates to any such untrue statement or alleged untrue statement or omission or alleged omission made in the preliminary prospectus but eliminated or remedied in the amended prospectus on file with the Commission at the time the registration statement becomes effective or in the Final Prospectus, such indemnity agreement shall not inure to the benefit of the Seller hereunder shall be limited Company, any controlling person or any underwriter, if a copy of the Final Prospectus was not furnished to the proportion person or entity asserting the loss, liability, claim or damage at or prior to the time such furnishing is required by the Securities Act; provided, further, that this indemnity shall not be -------- ------- deemed to relieve any underwriter of any such lossof its due diligence obligations; and provided, claimfurther, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold in no event shall any indemnity by the Seller a seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to this -------- ------- Section 7(b) exceed the net gross proceeds from the offering received by the Seller from the sale of Registrable Securities covered by such registration statementseller.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 7 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 7 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 7 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, -------- however, that, if the defendants in any such action include both the indemnified ------- party and the indemnifying party and counsel to the indemnified party shall have reasonably concluded that there may be are reasonable defenses available to it the indemnified party which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred. No indemnifying party, in the defense of any such claim or litigation, shall, except with the consent of each indemnified party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany Holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such Holder, makes a claim for indemnification pursuant to this Section 9.6 7 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 7 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling Holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.67; then, and in each such case, the Company and the Seller such Holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such Holder is responsible only for the portion represented by the percentage that the public offering price of its securities Restricted Stock offered by the registration statement bears to the public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such Holder will not be -------- ------- required to contribute any amount in excess of the public offering price of all such securities Restricted Stock offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Registration Rights Agreement (Occupational Health & Rehabilitation Inc), Registration Rights Agreement (Occupational Health & Rehabilitation Inc)
Indemnification and Contribution. (a) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9the terms of this Agreement, the Company will indemnify and hold harmless each Sellerand pay and reimburse, each officer of each Seller, each director of each SellerInvestor thereunder, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act or the Exchange Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch Investor, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was were registered under the Securities Act pursuant to Section 9, hereto or any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or any violation or alleged violation of the Securities Act or any state securities or “blue sky” laws and will reimburse the Sellereach such Investor, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon the Company’s reliance on an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement Registration Statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9hereto, the Seller each seller of such Registrable Securities thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and Registration Statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon reliance on any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, hereto or any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, ; provided that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement Registration Statement or prospectus, ; and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion proceeds received by such seller from the sale of Registrable Securities covered by such Registration Statement. Notwithstanding the foregoing, the indemnity provided in this Section 8(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or expense which if such settlement is equal effected without the consent of such indemnified party and provided further, that the Company shall not be liable in any such case to the proportion extent that any such loss, claim, damage or liability (or action in respect thereof) arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission in such Registration Statement, which untrue statement or alleged untrue statement or omission or alleged omission is completely corrected in an amendment or supplement to the public offering price Registration Statement and the undersigned indemnitees thereafter fail to deliver or cause to be delivered such Registration Statement as so amended or supplemented prior to or concurrently with the sale of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunderperson asserting such loss, but not claim, damage or liability (or actions in any event to exceed respect thereof) or expense after the net proceeds received by Company has furnished the Seller from undersigned with the sale of Registrable Securities covered by such registration statementsame.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 8 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 8 if and to the extent the indemnifying party is materially prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 8 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, ; provided that if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded based upon written advice of its counsel that there may be reasonable defenses available to it which that are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registrable Securities exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 8 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 8 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.68; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Registrable Securities offered by the registration Registration statement bears to the public offering price of all securities offered by such registration Registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Registrable Securities offered by it pursuant to such registration statement; Registration statement and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f12(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Registration Rights Agreement (Pershing Gold Corp.), Registration Rights Agreement (Pershing Gold Corp.)
Indemnification and Contribution. (a) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Company will indemnify and hold harmless each Seller, each officer the seller of each Seller, each director of each Sellersuch Registrable Shares, each underwriter of such Registrable Securities thereunder Shares, and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act Act, the Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was Shares were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto such Registration Statement, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, ; and the Company will reimburse the Sellersuch seller, each such underwriter and each such controlling person for any legal or any other expenses reasonably incurred by them such seller, underwriter or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged any untrue statement or omission made in such Registration Statement, preliminary prospectus or alleged omission so made final prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by any or on behalf of such Sellerseller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectusthe preparation thereof.
(b) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Seller each seller of Registrable Shares, severally and not jointly, will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each person, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, each officer of the Company who signs the registration statement and each director of the Company, against all any losses, claims, damages or liabilities, joint or several, to which the Company Company, such directors and officers, underwriter or such officer or director controlling person may become subject under the Securities Act Act, Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in the registration statement any Registration Statement under which such Registrable Securities Shares were registered under the Securities Act pursuant to Section 9Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto the Registration Statement, or arise out of or are based upon the any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse if the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining relating to such Seller, as such, seller furnished in writing to the Company by or on behalf of such Seller seller specifically for use in connection with the preparation of such registration statement or Registration Statement, prospectus, and amendment or supplement; provided, further, however, that the liability obligations of the Seller each Stockholder hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is an amount equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such Stockholder from the sale of Registrable Securities covered by Shares sold in connection with such registration statementregistration.
(c) Promptly Each party entitled to indemnification under this Section 1.6 (the "Indemnified Party") shall give notice to the party required to provide indemnification (the "Indemnifying Party") promptly after receipt by an indemnified party hereunder of notice of the commencement such Indemnified Party has actual knowledge of any actionclaim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such indemnified party shallclaim or any litigation resulting therefrom; provided, if a that counsel for the Indemnifying Party, who shall conduct the defense of such claim in respect thereof is or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld); and, provided, further, that the failure of any Indemnified Party to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party give notice as provided herein shall not relieve it from any liability which it may have to such indemnified party other than the Indemnifying Party of its obligations under this Section 9.6(c) and shall only relieve it from any liability which it 1.6. The Indemnified Party may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the such defense thereof with counsel satisfactory to at such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, 's expense; provided, however, thatthat the Indemnifying Party shall pay such expense if representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests between the Indemnified Party and any other party represented by such counsel in such proceeding. No Indemnifying Party, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such separate counsel claim or litigation, and other expenses related no Indemnified Party shall consent to entry of any judgment or settle such participation to be reimbursed by claim or litigation without the indemnifying party as incurredprior written consent of the Indemnifying Party.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registrable Shares exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 1.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 1.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling Stockholder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.61.6; then, and in each such case, the Company and the Seller such Stockholder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion proportions so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Registrable Shares offered by the registration statement Registration Statement bears to the public offering price of all securities offered by such registration statementRegistration Statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price net proceeds to it of all such securities offered Registrable Shares sold by it pursuant to such registration statement; Registration Statement, and (B) no person or entity guilty of fraudulent misrepresentation (misrepresentation, within the meaning of Section 10(f11(f) of the Securities Act) will , shall be entitled to contribution from any person or entity who was is not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Registration Rights Agreement (Curis Inc), Registration Rights Agreement (Curis Inc)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 4, 5 or 6, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9Sections 4, the Seller 5 or 6, each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, thereof or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Restricted Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 9 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.or
Appears in 2 contracts
Sources: Series a Convertible Preferred Stock Purchase Agreement, Series a Convertible Preferred Stock Purchase Agreement (Seachange International Inc)
Indemnification and Contribution. (a) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Company will indemnify and hold harmless each Seller, each officer the seller of each Seller, each director of each Sellersuch Registrable Shares, each underwriter of such Registrable Securities thereunder Shares, and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act Act, the Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was Shares were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto such Registration Statement, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, ; and the Company will reimburse the Sellersuch seller, each such underwriter and each such controlling person for any legal or any other expenses reasonably incurred by them such seller, underwriter or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the -------- ------- extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged any untrue statement or omission made in such Registration Statement, preliminary prospectus or alleged omission so made final prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by any or on behalf of such Sellerseller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectusthe preparation thereof.
(b) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Seller each seller of Registrable Shares, severally and not jointly, will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each person, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, each officer of the Company who signs the registration statement and each director of the Company, against all any losses, claims, damages or liabilities, joint or several, to which the Company Company, such directors and officers, underwriter or such officer or director controlling person may become subject under the Securities Act Act, Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in the registration statement any Registration Statement under which such Registrable Securities Shares were registered under the Securities Act pursuant to Section 9Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto the Registration Statement, or arise out of or are based upon the any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending if any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or omission or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining relating to such Seller, as such, seller furnished in writing to the Company by or on behalf of such Seller seller specifically for use in connection with the preparation of such registration statement or Registration Statement, prospectus, amendment or supplement; provided, -------- however, that the obligations of such Stockholders hereunder shall be limited to ------- an amount equal to the proceeds to each Stockholder of Registrable Shares sold in connection with such registration.
(c) Each party entitled to indemnification under this Section 6 (the "Indemnified Party") shall give notice to the party required to provide indemnification (the "Indemnifying Party") promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any litigation resulting therefrom; provided, that counsel for the Indemnifying -------- Party, who shall conduct the defense of such claim or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld); and, provided, further, that the failure of any Indemnified Party to -------- ------- give notice as provided herein shall not relieve the Indemnifying Party of its obligations under this Section 6. The Indemnified Party may participate in such defense at such party's expense; provided, however, that the liability Indemnifying Party -------- ------- shall pay such expense if representation of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold Indemnified Party by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received counsel retained by the Seller from Indemnifying Party would be inappropriate due to actual or potential differing interests between the sale of Registrable Securities covered Indemnified Party and any other party represented by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any actioncounsel in such proceeding. No Indemnifying Party, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such separate counsel claim or litigation, and other expenses related no Indemnified Party shall consent to entry of any judgment or settle such participation to be reimbursed by claim or litigation without the indemnifying party as incurredprior written consent of the Indemnifying Party.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registrable Shares exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling Stockholder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.66; then, and in each such case, the Company and the Seller such Stockholder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion proportions so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Registrable Shares offered by the registration statement Registration Statement bears to the public offering price of all securities offered by such registration statementRegistration Statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be -------- ------- required to contribute any amount in excess of the public offering price proceeds to it of all such securities offered Registrable Shares sold by it pursuant to such registration statement; Registration Statement, and (B) no person or entity guilty of fraudulent misrepresentation (misrepresentation, within the meaning of Section 10(f11(f) of the Securities Act) will , shall be entitled to contribution from any person or entity who was is not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Registration Rights Agreement (Switchboard Inc), Registration Rights Agreement (Switchboard Inc)
Indemnification and Contribution. (a) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each SellerSelling Stockholder, each underwriter of such Registrable Securities thereunder Shares, and each other person, if any, who controls any such Seller Selling Stockholder or underwriter within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch Selling Stockholder, or such underwriter or controlling person may become subject under the Securities Act Act, the Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any a material fact contained in any registration statement Registration Statement under which such Registrable Securities was Shares were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto such Registration Statement, or arise out of or are based upon (ii) the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading (in the case of any preliminary prospectus or final prospectus contained in any Registration Statement under which Registerable Shares were registered under the Securities Act, in the light of the circumstances under which they were made) or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law in connection with the Registration Statement or the offering contemplated thereby; and the Company will reimburse the Sellersuch Selling Stockholder, each such underwriter and each such controlling person for any legal or any other expenses reasonably incurred by them such Selling Stockholder, underwriter or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged any untrue statement or omission made in such Registration Statement, preliminary prospectus or alleged omission so made final prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by any or on behalf of such SellerSelling Stockholder, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectusthe preparation thereof.
(b) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Seller each Selling Stockholder, severally and not jointly, will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each person, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, each officer of the Company who signs the registration statement and each director of the Company, against all any losses, claims, damages or liabilities, joint or several, to which the Company Company, such directors and officers, underwriter or such officer or director controlling person may become subject under the Securities Act Act, Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages damages, or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any a material fact contained in the registration statement any Registration Statement under which such Registrable Securities Shares were registered under the Securities Act pursuant to Section 9Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereof, to the Registration Statement or arise out of or are based upon the (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse misleading (in the Company and each such officer case of any preliminary prospectus or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder final prospectus contained in any such case Registration Statement under which Registerable Shares were registered under the Securities Act, in the light of the circumstances under which they were made), if and to the extent (and only to the extent extent) that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue the statement or omission or alleged omission was made solely in reliance upon and in conformity with information pertaining relating to such Seller, as such, Selling Stockholder furnished in writing to the Company by or on behalf of such Seller Selling Stockholder specifically for use in connection with the preparation of such registration statement or Registration Statement, prospectus, and amendment or supplement; provided, further, however, that the liability obligations of the Seller each such Selling Stockholder hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is an amount equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by such Selling Stockholder in respect of the Seller from the sale of Registrable Securities covered by Shares sold pursuant to such registration statementregistration.
(c) Promptly Each Indemnified Party shall give notice to the Indemnifying Party promptly after receipt by an indemnified party hereunder of notice of the commencement such Indemnified Party has actual knowledge of any actionclaim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such indemnified party shallclaim or any litigation resulting therefrom; provided that counsel for the Indemnifying Party, if a who shall conduct the defense of such claim in respect thereof is or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld, conditioned or delayed); and provided further, that the failure of any Indemnified Party to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party give notice as provided herein shall not relieve it from any liability which it may have to such indemnified party other than the Indemnifying Party of its obligations under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and 2.5 except to the extent that the indemnifying party Indemnifying Party is prejudiced adversely affected by such omissionfailure. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to The Indemnified Party may participate in and, to the extent it shall wish, to assume and undertake the such defense thereof with counsel satisfactory to at such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, ’s expense; provided, however, thatthat the Indemnifying Party shall pay such expense if representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests between the Indemnified Party and any other party represented by such counsel in such proceeding; provided further, that in no event shall the Indemnifying Party be required to pay the expenses of more than one law firm per jurisdiction as counsel for the Indemnified Party. The Indemnifying Party shall also be responsible for the expenses of such defense if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and Indemnifying Party does not elect to assume such legal defenses and otherwise to participate defense. No Indemnifying Party, in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such separate counsel claim or litigation, and other expenses related no Indemnified Party shall consent to entry of any judgment or settle such participation to claim or litigation without the prior written consent of the Indemnifying Party, which consent shall not be reimbursed by the indemnifying party as incurredunreasonably withheld, conditioned or delayed.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case circumstances in which either (i) the Seller, or any controlling person of the Seller, makes a claim indemnification provided for indemnification pursuant to in this Section 9.6 2.5 is due in accordance with its terms but it for any reason is judicially determined (by held to be unavailable to an Indemnified Party in respect to any losses, claims, damages and liabilities referred to herein, then the entry Indemnifying Party shall, in lieu of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that indemnifying such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such caseIndemnified Party, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate amount paid or payable as a result of losses, claims, damages or liabilities to which they such party may be subject (after contribution from others) in such proportion so that proportions as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented Company on the one hand and the Selling Stockholders on the other in connection with the statements, omissions or violations which resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Selling Stockholders shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of material fact related to information supplied by the percentage Company or the Selling Stockholders and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Selling Stockholders agree that it would not be just and equitable if contribution pursuant to this Section 2.5(d) were determined by pro rata allocation or by any other method of allocation which does not take account of the public offering price equitable considerations referred to above. Notwithstanding the provisions of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, thatthis Section 2.5(d), in no case shall any such case, (A) the Seller will not one Selling Stockholder be required to contribute liable or responsible for any amount in excess of the public net proceeds received by such Selling Stockholder from the offering price of all such securities offered by it pursuant to such registration statementRegistrable Shares; and (B) provided, however that no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was is not guilty of such fraudulent misrepresentation. Any party entitled to contribution will, promptly after receipt of notice of commencement of any action, suit or proceeding against such party in respect of which a claim for contribution may be made against another party or parties under this Section 2.5(d), notify such party or parties from whom contribution may be sought, but the omission so to notify such party or parties from whom contribution may be sought shall not relieve such party from any other obligation it or they may have thereunder or otherwise under this Section 2.5(d). No party shall be liable for contribution with respect to any action, suit, proceeding or claim settled without its prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed.
(e) The rights and obligations of the Company and the Selling Stockholders under this Section 2.5 shall survive the termination of this Agreement.
Appears in 2 contracts
Sources: Investor Rights Agreement (TransMedics Group, Inc.), Investor Rights Agreement (TransMedics Group, Inc.)
Indemnification and Contribution. (a) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each SellerSelling Stockholder, each underwriter of such Registrable Securities thereunder Shares, and each other person, if any, who controls any such Seller Selling Stockholder or underwriter within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch Selling Stockholder, or such underwriter or controlling person may become subject under the Securities Act Act, the Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was Shares were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto such Registration Statement, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, ; and the Company will reimburse the Sellersuch Selling Stockholder, each such underwriter and each such controlling person for any legal or any other expenses reasonably incurred by them such Selling Stockholder, underwriter or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged any untrue statement or omission made in such Registration Statement, preliminary prospectus or alleged omission so made prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by any or on behalf of such SellerSelling Stockholder, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectusthe preparation thereof.
(b) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Seller each Selling Stockholder, severally and not jointly, will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each person, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, each officer of the Company who signs the registration statement and each director of the Company, against all any losses, claims, damages or liabilities, joint or several, to which the Company Company, such directors and officers, underwriter or such officer or director controlling person may become subject under the Securities Act Act, Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in the registration statement any Registration Statement under which such Registrable Securities Shares were registered under the Securities Act pursuant to Section 9Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto the Registration Statement, or arise out of or are based upon the any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse if the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining relating to such Seller, as such, Selling Stockholder furnished in writing to the Company by or on behalf of such Seller Selling Stockholder specifically for use in connection with the preparation of such registration statement or Registration Statement, prospectus, and amendment or supplement; provided, further, however, that the liability obligations of the Seller a Selling Stockholder hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is an amount equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale to such Selling Stockholder of Registrable Securities covered by Shares sold in connection with such registration statementregistration.
(c) Promptly Each party entitled to indemnification under this Section (the "Indemnified Party") shall give notice to the party required to provide indemnification (the "Indemnifying Party") promptly after receipt by an indemnified party hereunder of notice of the commencement such Indemnified Party has actual knowledge of any actionclaim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such indemnified party shallclaim or any litigation resulting therefrom; provided, if a that counsel for the Indemnifying Party, who shall conduct the defense of such claim in respect thereof is or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld); and, provided, further, that the failure of any Indemnified Party to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party give notice as provided herein shall not relieve it from any liability which it may have to such indemnified party other than the Indemnifying Party of its obligations under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and except to the extent that the indemnifying party Indemnifying Party is prejudiced adversely affected by such omissionfailure. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to The Indemnified Party may participate in and, to the extent it shall wish, to assume and undertake the such defense thereof with counsel satisfactory to at such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, 's expense; provided, however, that, that the Indemnifying Party shall pay such expense if representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests between the Indemnified Party and any other party represented by such counsel in such proceeding; provided further that in no event shall the Indemnifying Party be required to pay the expenses of more than one law firm per jurisdiction as counsel for the Indemnified Party. The Indemnifying Party also shall be responsible for the expenses of such defense if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and Indemnifying Party does not elect to assume such legal defenses and otherwise to participate defense. No Indemnifying Party, in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such separate counsel claim or litigation, and other expenses related no Indemnified Party shall consent to entry of any judgment or settle such participation to claim or litigation without the prior written consent of the Indemnifying Party, which consent shall not be reimbursed by the indemnifying party as incurredunreasonably withheld.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case circumstances in which either (i) the Seller, or any controlling person of the Seller, makes a claim indemnification provided for indemnification pursuant to in this Section 9.6 2.5 is due in accordance with its terms but it for any reason is judicially determined (by held to be unavailable to an Indemnified Party in respect to any losses, claims, damages and liabilities referred to herein, then the entry Indemnifying Party shall, in lieu of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that indemnifying such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such caseIndemnified Party, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate amount paid or payable by such Indemnified Party as a result of such losses, claims, damages or liabilities to which they such party may be subject (after contribution from others) in such proportion so that as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented Company on the one hand and the Selling Stockholders on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Selling Stockholders shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of material fact related to information supplied by the percentage Company or the Selling Stockholders and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Selling Stockholders agree that it would not be just and equitable if contribution pursuant to this Section 2.5 were determined by pro rata allocation or by any other method of allocation which does not take account of the public offering price equitable considerations referred to above. Notwithstanding the provisions of its securities offered by the registration statement bears to the public offering price this paragraph of all securities offered by such registration statement, provided, however, that, in any such caseSection 2.5, (Aa) the Seller will not in no case shall any one Selling Stockholder be required to contribute liable or responsible for any amount in excess of the public net proceeds received by such Selling Stockholder from the offering price of all such securities offered by it pursuant to such registration statement; Registrable Shares and (Bb) the Company shall be liable and responsible for any amount in excess of such proceeds; provided, however, that no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. Any party entitled to contribution will, promptly after receipt of notice of commencement of any action, suit or proceeding against such party in respect of which a claim for contribution may be made against another party or parties under this Section, notify such party or parties from whom contribution may be sought, but the omission so to notify such party or parties from whom contribution may be sought shall not relieve such party from any other obligation it or they may have thereunder or otherwise under this Section. No party shall be liable for contribution with respect to any action, suit, proceeding or claim settled without its prior written consent, which consent shall not be unreasonably withheld.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Essex Corporation), Investor Rights Agreement (Microstrategy Inc)
Indemnification and Contribution. (a) In the event of a registration of any of the Registrable Securities Stock under the Securities Act pursuant to Section 9Sections 2 or 3, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each SellerRegistrable Stock thereunder, each underwriter of such Registrable Securities Stock thereunder and each other person, if any, who controls any or is alleged to control such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was Stock were registered under the Securities Act pursuant to Section 9Sections 2 or 3, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or arises out of or are based upon any violation or alleged violation of any federal, state or other law, rule or regulation relating to any action or inaction in connection therewith, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in to any such case indemnitee if and to the extent that any such loss, claim, damage or liability arises solely out of or is based solely upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information with respect to such indemnitee furnished by any such Seller, the underwriter or any such controlling person indemnitee in writing specifically for use in such registration statement or prospectus. The indemnities of the Company contained in this Section 6 shall remain in full force and effect regardless of any investigation made by or on behalf of such indemnified person and shall survive any transfer of Registrable Stock.
(b) In the event of a registration of any of the Registrable Securities Stock under the Securities Act pursuant to Section 9Sections 2 or 3, the Seller each seller of such Registrable Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Stock was registered under the Securities Act pursuant to Section 9Sections 2 or 3, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises solely out of or is based solely upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder (when combined with any liability under Section 6(d) below) shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Stock covered by such registration statementstatement (after deduction of all underwriters’ discounts and commissions and all other expenses and damages paid by such seller in connection with the registration in question). Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the Company or any such director, officer, underwriter or controlling person and shall survive any transfer of Registrable Stock.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 6 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 6 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 6 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred. No indemnifying party, in the defense of any such claim or litigation, shall, except with the consent of each indemnified party, consent to entry of any judgment or enter into any settlement unless such judgment or settlement includes as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation, includes only money damages (as opposed to equitable relief) and does not include any statement as to the fault or culpability of such indemnified party.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registrable Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.66; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the aggregate public offering price of its securities Registrable Stock offered by the registration statement bears to the aggregate public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute (when combined with any liability under Section 6(b) above) any amount in excess of the public offering price net proceeds received by it from the sale of all such securities Registrable Stock offered by it pursuant to such registration statementstatement (after deduction of all underwriters’ discounts and commissions and all other damages and expenses paid by such seller in connection with the registration in question); and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Investor Rights Agreement (Edgar Online Inc), Investor Rights Agreement (Draper Fisher Jurvetson Fund VIII L P)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 4, 5 or 6, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9Sections 4, the Seller 5 or 6, each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Restricted Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 9 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.69; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Restricted Stock offered by the registration statement bears to the public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Restricted Stock offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Investor Rights Agreement (Voxware Inc), Investor Rights Agreement (Voxware Inc)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant to Section 9, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Securities Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Implant Sciences Corp), Securities Purchase Agreement (Implant Sciences Corp)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant to Section 9, the The Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder Underwriter and each other person, if any, who controls any such Seller or underwriter Underwriter within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the Seller, such Underwriter or such underwriter or controlling person may become subject subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Exchange Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under Registration Statement or any amendment thereof, the Securities Act pursuant to Section 9Basic Prospectus, any preliminary prospectus Preliminary Final Prospectus or final prospectus contained thereinthe Final Prospectus, or any amendment or supplement thereofthereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company each Underwriter and each such officer or director controlling person for any legal or other expenses reasonably incurred by them such Underwriter or such controlling person in connection with investigating or defending any such loss, claim, damage, liability or action, ; provided, however, that 9
(b) Each Underwriter severally agrees to indemnify and hold harmless the Seller will be liable hereunder in Company, each person, if any, who controls the Company either within the meaning of the Securities Act or the Exchange Act, each of its directors and each of its officers who has signed the Registration Statement, against any losses, claims, damages or liabilities to which the Company, any such case if and only controlling person or any such director or officer may become subject, under the Securities Act, the Exchange Act, or otherwise, to the same extent that any such lossas the foregoing indemnity from the Company to each Underwriter, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity but only with reference to written information pertaining relating to such Seller, as such, Underwriter furnished in writing to the Company by or on behalf of such Seller Underwriter through you specifically for use in such registration statement the preparation of the documents referred to in the foregoing indemnity. This indemnity agreement will be in addition to any liability which any Underwriter may otherwise have. The Company acknowledges that the statements set forth in the last paragraph of the cover page of the Final Prospectus and under the heading "Underwriting" or prospectus"Plan of Distribution" and, if Schedule I hereto provides for sale of Securities pursuant to delayed delivery arrangements, in the last sentence under the heading "Delayed Delivery Arrangements" in the Final Prospectus constitute the only information furnished in writing by or on behalf of the several Underwriters for inclusion in the Final Prospectus, and provided, further, however, you confirm that the such statements are correct. This indemnity agreement will be in addition to any liability of the Seller hereunder shall be limited to the proportion of any which each such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementUnderwriter may otherwise have.
(c) Promptly after receipt by an indemnified party hereunder under this Section of notice of the commencement of any action, such indemnified party shallwill, if a claim in respect thereof is to be made against the indemnifying party hereunderunder this Section, notify the indemnifying party in writing of the commencement thereof, but the omission so to notify the indemnifying party shall will not relieve it from any liability which it may have to such any indemnified party other otherwise than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omissionSection. In case any such action shall be is brought against any indemnified party party, and it shall notify notifies the indemnifying party of the commencement thereof, the indemnifying party shall will be entitled to participate in and, to the extent that it shall wishmay elect by written notice delivered to the indemnified party promptly after receiving the aforesaid notice from such indemnified party, to assume and undertake the defense thereof thereof, with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, ; provided, however, that, that if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable legal defenses available to it and/or other indemnified parties which are different from or additional in addition to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified party or parties shall have the right to select one separate counsel and to assume such legal defenses and to otherwise to participate in the defense of such action, with the reasonable expenses and fees action on behalf of such separate counsel and other expenses related to indemnified party or parties. Upon receipt by such participation to be reimbursed by indemnified party of notice from the indemnifying party as incurred.of its election so to assume the defense of such action and approval by the indemnified party of counsel, the indemnifying party will not be liable to such indemnified party under this Section 8 for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof unless (i) the indemnified party shall have employed such counsel in connection with the assumption of legal defenses in accordance with the proviso to the next preceding sentence (it being understood, however, that the indemnifying party shall not be liable for the 10
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case circumstances in which either the indemnification provided for in paragraph (ia) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 8 is due in accordance with its terms but it is judicially determined (by the entry of a final judgment or decree for any reason held by a court to be unavailable from the Company on grounds of competent jurisdiction and the expiration of time to appeal policy or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such caseotherwise, the Company and the Seller will Underwriters shall contribute to the aggregate losses, claims, damages and liabilities (including legal or liabilities other expenses reasonably incurred in connection with investigating or defending same) to which they the Company and one or more of the Underwriters may be subject (after contribution from others) in such proportion so that the Seller is Underwriters are responsible only for the that portion represented by the percentage that the public offering price of its securities offered by the registration statement underwriting discount bears to the public offering sum of such discount and the purchase price of all securities offered by such registration statement, the Securities set forth in Schedule I hereto and the Company is responsible for the balance; provided, however, that, that (i) in no case shall any Underwriter (except as may be provided in any such case, (Aagreement among underwriters relating to the offering of the Securities) the Seller will not be required to contribute responsible for any amount in excess of the public offering price of all underwriting discount applicable to the Securities purchased by such securities offered by it pursuant to such registration statement; Underwriter hereunder and (Bii) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. For purposes of this Section 8, each person who controls an Underwriter within the meaning of the Securities Act shall have the same rights to contribution as such Underwriter, and each person who controls the Company within the meaning of either the Securities Act or the Exchange Act, each officer of the Company who shall have signed the Registration Statement and each director of the Company shall have the same rights to contribution as the Company, subject in each case to clause (i) of this paragraph (d). Any party entitled to contribution will, promptly after receipt of notice of commencement of any action, suit or proceeding against such party in respect of which a claim for contribution may be made against another party or parties under this paragraph (d), notify such party or parties from whom contribution may be sought, but the omission to so notify such party or parties shall not relieve the party or parties from whom contribution may be sought from any other obligation it or they may have hereunder or otherwise than under this paragraph (d).
Appears in 2 contracts
Sources: Underwriting Agreement (McDonalds Corp), Underwriting Agreement (McDonalds Corp)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 2, 3 or 4, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was Restricted Stock is registered under the Securities Act pursuant to Section 9Sections 2, 3 or 4, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that but the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon (i) an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished in writing by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus, or (ii) any failure by an underwriter, or a person controlling such underwriter, to give a final prospectus to the person claiming an untrue statement or omission, if such statement or omission appeared in or was omitted from a preliminary prospectus and was corrected in the final prospectus.
(b) In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9Sections 2, the Seller 3 or 4, each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock is registered under the Securities Act pursuant to Section 9Sections 2, 3 or 4, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or arise out of the failure of such holder of Restricted Stock to deliver a prospectus to any purchaser of Restricted Stock from such holder, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case but only if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the or from such holder's failure to deliver a prospectus. The liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Restricted Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) only if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or but if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party. The indemnifying party shall not, in connection with any proceeding or related proceeding, be liable for the fees and expenses of more than one separate firm (plus one firm of local counsel in each jurisdiction in which an action is brought). The indemnified party shall cooperate fully with the indemnifying party in connection with any negotiation or defense of any such action or claim by the indemnifying party and shall furnish to the indemnifying party all information reasonably available to the indemnified party that relates to such action or claim. The indemnifying party shall keep the indemnified party fully apprised at all times as incurredto the status of the defense or any settlement negotiations with respect thereto. If the indemnifying party elects to defend any such action or claim, then the indemnified party shall be entitled to participate in such defense with counsel of its choice at its sole cost and expense. If the indemnifying party does not assume such defense, the indemnified party shall keep the indemnifying party apprised at all times as is reasonably practicable as to the status of the defense; provided, however, that the failure to keep the indemnifying party so informed shall not affect the obligations of the indemnifying party hereunder. No indemnifying party shall be liable for any settlement of any action, claim or proceeding effected without its written consent; provided, however, that the indemnifying party shall not unreasonably withhold, delay or condition its consent. No indemnifying party shall, without the consent of the indemnified party (not to be unreasonably withheld), consent to entry of any judgment or enter into any settlement that does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation or that requires the indemnified party to take any future action (other than the payment of money that the indemnifying party pays under this section) or refrain from taking any future action.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6Section; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Restricted Stock offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, and the Company is responsible for the remaining portion; but in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Restricted Stock offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Medical Technology Systems Inc /De/), Registration Rights Agreement (Medical Technology Systems Inc /De/)
Indemnification and Contribution. (a) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9the terms of this Agreement, the Company will indemnify and hold harmless each Sellerand pay and reimburse, each officer of each Seller, each director of each Seller, each underwriter of Investor selling such Registrable Securities thereunder thereunder, and each other person, if any, who controls any such Seller or underwriter Investor within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter Investor or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant hereto or any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to Section 9state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or any violation or alleged violation of the Securities Act or any state securities or blue sky laws and will reimburse each such Investor and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability (or action in respect thereof) arises out of or is based upon the Company's reliance on an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Investor or any such controlling person (whether or not the Investor or controlling person asserting the claims for indemnification) in writing specifically for use in the registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant hereto, each Investor selling Registrable Securities thereunder, severally and not jointly, will indemnify and hold harmless the Company, each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer, director or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant hereto or any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or officer, director and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such Investor will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability (or action in respect thereof) arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller Investor specifically for use in such the registration statement or prospectus, and provided, further, however, that the liability of the Seller each Investor hereunder shall be limited to the proportion proceeds received by such Investor from the sale of Registrable Securities covered by the registration statement. Notwithstanding the foregoing, the indemnity provided in this Section 4(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or expense which if such settlement is equal to effected without the proportion that the public offering price consent of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementindemnified party.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the an indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 4 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 4 if and to the extent the indemnifying party is materially prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 4 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, that if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded based upon written advice of his counsel that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party party, or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurredif and to the extent that it is determined that the indemnified party is entitled to indemnification hereunder.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany Investor selling Registrable Securities exercising rights under this Agreement, or any controlling person of the Sellerany such Investor, makes a claim for indemnification pursuant to this Section 9.6 but 4, and it is agreed by the indemnifying party or it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such Investor or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.64; then, and in each such case, the Company and the Seller such Investor will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller each such Investor is responsible only for the portion represented by the percentage that the aggregate public offering price of its securities Registrable Securities offered by the registration statement bears to the aggregate public offering price of all securities offered by such the registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, case (A) the Seller no such Investor will not be required to contribute any amount in excess of the aggregate public offering price of all such securities Registrable Securities offered by it pursuant to such the registration statement; , and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Registration Rights Agreement (NPC Holdings Inc), Registration Rights Agreement (Power Efficiency Corp)
Indemnification and Contribution. (a) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9the terms of this Agreement, the Company will indemnify and hold harmless each Sellerand pay and reimburse, each officer seller of each Seller, each director of each Sellersuch Registrable Securities thereunder, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was were registered under the Securities Act pursuant to Section 9, hereto or any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or any violation or alleged violation of the Securities Act or any state securities or “blue sky” laws and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon the Company’s reliance on an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement Registration Statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9hereto, the Seller each seller of such Registrable Securities thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and Registration Statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon reliance on any untrue statement or alleged untrue statement of any material fact contained in the registration statement Registration Statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9hereto or, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter, and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement Registration Statement or prospectus, and providedprovided that, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion proceeds received by such seller from the sale of Registrable Securities covered by such Registration Statement. Notwithstanding the foregoing, the indemnity provided in this Section 6(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or expense which if such settlement is equal effected without the consent of such indemnified party and provided further, that the Company shall not be liable in any such case to the proportion extent that any such loss, claim, damage or liability (or action in respect thereof) arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission in such Registration Statement, which untrue statement or alleged untrue statement or omission or alleged omission is completely corrected in an amendment or supplement to the public offering price Registration Statement and the undersigned indemnitees thereafter fail to deliver or cause to be delivered such Registration Statement as so amended or supplemented prior to or concurrently with the sale of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunderperson asserting such loss, but not claim, damage or liability (or actions in any event to exceed respect thereof) or expense after the net proceeds received by Company has furnished the Seller from undersigned with the sale of Registrable Securities covered by such registration statementsame.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 6 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 6 if and to the extent the indemnifying party is materially prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 6 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, provided that if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded based upon written advice of its counsel that there may be reasonable defenses available to it which that are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registrable Securities exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.66; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Registrable Securities offered by the registration statement Registration Statement bears to the public offering price of all securities offered by such registration statementRegistration Statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Registrable Securities offered by it pursuant to such registration statement; Registration Statement and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f12 (f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Registration Rights Agreement (FusionTech, Inc.), Registration Rights Agreement (CleanTech Innovations, Inc.)
Indemnification and Contribution. (a) In the event of a registration of any Registrable of the Registerable Securities under the Securities Act pursuant to Section 92 above, the Company will indemnify and hold harmless each SellerPurchasers, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller or underwriter a Purchaser within the meaning of the Securities Act, against any losses, claims, damages damages, liabilities or liabilitiesexpenses, joint or several, to which the Seller, Purchasers or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages damages, liabilities or liabilities (expenses, or actions in respect thereof) , arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Registerable Securities was registered under the Securities Act pursuant to Section 92 above, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading or any violation by the Company of the Securities Act or any rule or regulation promulgated thereunder, and will reimburse the SellerPurchasers, each such underwriter and each such controlling person person, for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability liability, action or actionexpense; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage damage, liability or liability expense arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information information, pertaining to Purchasers, as such, furnished by any such Seller, the underwriter or any such controlling person in writing by Purchasers specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Registerable Securities under the Securities Act pursuant to Section 92 above, the Seller will each Purchaser shall indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (liabilities, or actions in respect thereof) , arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Registerable Securities were was registered under the Securities Act pursuant to Section 92 above, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will a Purchaser shall be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such SellerPurchaser, as such, furnished in writing to the Company by such Seller Purchaser specifically for use in such registration statement or prospectus, ; and provided, provided further, however, that the liability of the Seller such Purchaser hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Registerable Securities sold by the Seller such Purchaser under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such Purchaser from the sale of Registrable Registerable Securities covered by such registration statement.
(c) Promptly after receipt by an a party indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 6 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 6 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, party and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 6 for any legal expenses expense subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, ; provided, however, that, that if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred. No indemnifying party, in the defense of any such claim or litigation shall, except with the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by claimant or plaintiff to such indemnified party as a release from all liability in respect of such claim or litigation.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellera Purchaser, exercising its rights under this Agreement, or any controlling person of the Sellersuch Purchaser, makes a claim for indemnification pursuant to this Section 9.6 6 but it is judicially determined (determined, by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) , that such indemnification may not be enforced in such case notwithstanding case, the fact that this Section 9.6 6 provides for indemnification in such casecase notwithstanding, or (ii) contribution under the Securities Act may be required on the part of the Seller a Purchaser or any controlling person of the Seller with respect to such Purchaser in circumstances for which indemnification is provided under this Section 9.6; then6, then and in each such case, the Company and the Seller such Purchaser will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (subject, after contribution from others) , in such proportion so that as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented indemnifying party, on the one hand, and the indemnified party on the other in connection with the statements or omissions which resulted in such losss, claim, damage or liability, as well as any other equitable considerations. Relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission to state a material fact relates to the information supplied by the percentage that indemnifying party or the public offering price of its securities offered by indemnified party and the registration parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement bears to the public offering price of all securities offered by such registration statement, or omission; provided, however, that, that in any such case, (Ax) the Seller such Purchaser will not be required to contribute any amount in excess of the public offering price of all such securities Registerable Securities offered by it pursuant to such registration statement; and (By) no person or entity guilty of fraudulent misrepresentation (misrepresentation, within the meaning of Section 10(f11(f) of the Securities Act) , will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Registration Rights Agreement (Milestone Scientific Inc/Nj), Registration Rights Agreement (Milestone Scientific Inc/Nj)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 5 or 6, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, howeverPROVIDED, HOWEVER, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9Sections 5 or 6, the Seller each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, providedPROVIDED, howeverHOWEVER, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and providedPROVIDED, furtherFURTHER, howeverHOWEVER, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Restricted Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 9 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, providedPROVIDED, howeverHOWEVER, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.69; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Restricted Stock offered by the registration statement bears to the public offering price of all securities offered by such registration statement, providedand the Company is responsible for the remaining portion; PROVIDED, howeverHOWEVER, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Restricted Stock offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Investor Rights Agreement (Voxware Inc), Investor Rights Agreement (Voxware Inc)
Indemnification and Contribution. (a) In the event Each of a registration of any Registrable Securities under the Securities Act pursuant to Section 9, the Company will and SLC jointly and severally agrees to indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder the Underwriters and each other person, if any, who controls any such Seller or underwriter an Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages or liabilitiesdamages, joint or several, to which the Seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities and expenses (or actions in respect thereof) arise arising out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in any registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9Registration Statement, any preliminary prospectus the Prospectus, the Disclosure Package, the Road Show Material or final prospectus contained therein, or in any amendment or supplement thereofthereto or any Issuer Information contained in a Free Writing Prospectus permitted under this Agreement, or arise in each case, arising out of or are based upon the any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter and each such controlling person Underwriter for any legal or other expenses reasonably incurred by them such Underwriter in connection with investigating or defending any such loss, claim, damage, liability, or action as such expenses are incurred, except insofar as such losses, claims, damages, liabilities or expenses arise out of or are based upon any untrue statement or omission or alleged untrue statement or omission which has been made therein or omitted therefrom in reliance upon and in conformity with the information relating to an Underwriter furnished in writing to the Company or SLC by or on behalf of such Underwriter through the Representative expressly for use therein, it being understood that the only such information furnished by any Underwriter consists of the information described as such in Section 12 of this Agreement. The foregoing indemnity agreement shall be in addition to any liability which the Company or SLC may otherwise have.
(b) Each of the Company and SLC jointly and severally agrees to indemnify and hold harmless each of the Underwriters and each person, if any, who controls an Underwriter within the meaning of Section 15 of the Act or Section 20 of the Exchange Act, from and against any losses, claims, damages, liabilities and expenses (or actions in respect thereof) arising out of or based upon failure of the Depositor, in its capacity as the depositor of the Company, to maintain its status as an eligible issuer within the meaning of Rule 405 under the Act as of the date hereof or as of the time set forth in Rule 164(h)(2) of the Act or its failure to timely file, pursuant to Rule 433 under the Act, any “issuer free writing prospectus” or Assumed Free Writing Prospectus with the Commission and will reimburse each Underwriter for any legal or other expenses reasonably incurred by such Underwriter in connection with investigating or defending any such loss, claim, damage, liability or action; providedaction as such expenses are incurred.
(c) Each Underwriter, howeverseverally and not jointly, agrees to indemnify and hold harmless the Company and SLC and its respective trustees, directors and officers, and any person who controls the Company or SLC within the meaning of Section 15 of the Act or Section 20 of the Exchange Act, to the same extent as the indemnity from the Company and SLC to the Underwriters set forth in paragraph (a) hereof, but only (i) with respect to information relating to such Underwriter furnished in writing by or on behalf of such Underwriter through the Representative expressly for use in the Registration Statement, the Prospectus, the Disclosure Package, the Road Show Material or any amendment or supplement thereto, it being understood that the Company will not be liable only such information furnished by any Underwriter consists of the information described as such in any such case if Section 12 of this Agreement and to the extent that any such loss, claim, damage or liability arises (ii) arising out of or is based upon an any untrue statement or alleged untrue statement of a material fact contained in any Free Writing Prospectus (as defined in Rule 405 under the Act) not constituting an “issuer free writing prospectus” (as defined in Rule 433(h)(1) under the Act) and used by such indemnifying Underwriter, or arising out of or based upon any omission or alleged omission to state therein a material fact necessary in order to make the statements therein not misleading (except to the extent such untrue statement or omission or alleged untrue statement or omission in such Free Writing Prospectus (x) is based upon or results from errors, mistakes or omissions in information provided by the Company or SLC to the Underwriters or (y) is contained in the Registration Statement, the Disclosure Package, the Road Show Material (except as supplemented or corrected in the Disclosure Package, if such supplemented or corrected Disclosure Package was provided to the Underwriters prior to the time the Underwriter used such Free Writing Prospectus not constituting an “issuer free writing prospectus”) or the Prospectus). The foregoing indemnity agreement shall be in addition to any liability which the Underwriters may otherwise have.
(d) If any action, suit or proceeding shall be brought against any person in respect of which indemnity may be sought pursuant to Section 7(a), 7(b) or 7(c), such person (the “indemnified party”) shall promptly notify the parties against whom indemnification is being sought (the “indemnifying parties”), but the omission so made in conformity with information furnished to notify the indemnifying party will not relieve it from any liability which it may have to any indemnified party except to the extent that the indemnifying party is materially prejudiced by such omission. In case any such Selleraction is brought against any indemnified party and it notifies the indemnifying party of the commencement thereof, the underwriter indemnifying party will be entitled to participate therein and, to the extent that it may wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party). The applicable Underwriter or any such controlling person shall have the right to employ separate counsel in any such action, suit or proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Underwriter or such controlling person unless (i) the indemnifying parties have agreed in writing specifically to pay such fees and expenses, (ii) the indemnifying parties have failed to assume the defense and employ counsel, or (iii) the named parties to any such action, suit or proceeding (including any impleaded parties) include both the Underwriter or such controlling person and the indemnifying parties and the Underwriter or such controlling person shall have been advised by its counsel that there may be one or more legal defenses available to it which are different from or additional to or in conflict with those available to the indemnifying parties and in the reasonable judgment of such counsel it is advisable for use the Underwriter or such controlling person to employ separate counsel (in which case the indemnifying party shall not have the right to assume the defense of such registration action, suit or proceeding on behalf of the Underwriter or such controlling person). It is understood, however, that the indemnifying parties shall, in connection with any one such action, suit or proceeding or separate but substantially similar or related actions, suits or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees and expenses of only one separate firm of attorneys (in addition to any local counsel) at any time for each Underwriter and controlling persons not having actual or potential differing interests with such Underwriter or among themselves, which firm shall be designated in writing by such Underwriter, and that all such fees and expenses shall be reimbursed on a monthly basis as provided in paragraph (a) hereof. An indemnifying party will not, without the prior written consent of the indemnified party, settle or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action) unless such settlement, compromise or consent (i) includes an unconditional release of each indemnified party from all liability arising out of such claim, action, suit or proceeding and (ii) does not include a statement as to, or prospectusan admission of fault, culpability or a failure to act by or on behalf of an indemnified party.
(e) If the indemnification provided for in this Section 7 is unavailable or insufficient to hold harmless an indemnified party under paragraphs (a), (b) In the event of a registration or (c) hereof in respect of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out referred to therein, then an indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or are based upon payable by such indemnified party as a result of such losses, claims, damages, liabilities or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company and SLC on the one hand and the applicable Underwriter on the other hand from the offering of the Notes , or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company and SLC on the one hand and the applicable Underwriter on the other in connection with the statements or omissions that resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative benefits received by the Company and SLC on the one hand and an Underwriter on the other shall be deemed to be in the same proportion as the total net proceeds from the offering of the Notes (before deducting expenses) received by the Company and SLC bear to the total underwriting discounts and commissions received by such Underwriter. The relative fault of the Company and SLC on the one hand and the Underwriters on the other hand shall be determined by reference to, among other things, whether the untrue statement or alleged untrue statement of any a material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required relates to be stated therein or necessary to make the statements therein not misleading, and will reimburse information supplied by the Company and each SLC on the one hand or by an Underwriter on the other hand and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such officer statement or director omission.
(f) The Company, SLC and the Underwriters agree that it would not be just and equitable if contribution pursuant to this Section 7 were determined by a pro rata allocation (even if the Underwriters were treated as one entity for such purposes) or by any other method of allocation that does not take account of the equitable considerations referred to in paragraph (e) above. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities (or actions in respect thereof) referred to in paragraph (e) above shall be deemed to include any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in investigating any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from claim or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of defending any such action, with suit or proceeding. Notwithstanding the reasonable expenses and fees provisions of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case7, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not no Underwriter shall be required to contribute any amount in excess of the public offering price of all amount by which the total Underwriting discounts and commissions received by such securities offered Underwriter with respect to the Notes underwritten by it pursuant exceed the amount of any damages which such Underwriter has otherwise been required to pay by reason of such registration statement; and (B) no untrue or alleged untrue statement or omission or alleged omission. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. The Underwriters’ obligations in this paragraph (f) to contribute are several in proportion to their respective underwriting obligations and not joint.
(g) Any losses, claims, damages, liabilities or expenses for which an indemnified party is entitled to indemnification or contribution under this Section 7 shall be paid by the indemnifying party to the indemnified party as such losses, claims, damages, liabilities or expenses are incurred. The indemnity and contribution agreements contained in this Section 7 and the representations and warranties of the Company and the Underwriters set forth in this Agreement shall remain operative and in full force and effect, regardless of (i) any investigation made by or on behalf of the Underwriters, the Company, SLC or any person controlling any of them or their respective directors or officers, (ii) acceptance of any Notes and payment therefor hereunder, and (iii) any termination of this Agreement. A successor to the Underwriters, the Company, SLC or any person controlling any of them or their respective directors or officers, shall be entitled to the benefits of the indemnity, contribution and reimbursement agreements contained in this Section 7.
Appears in 2 contracts
Sources: Underwriting Agreement (SLC Student Loan Trust 2007-2), Underwriting Agreement (SLC Student Loan Trust 2008-2)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Registerable Stock under the Securities Act pursuant to Section 9Sections 3 and 4, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Registerable Stock thereunder, each underwriter of such Registrable Securities Registerable Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Registerable Stock was registered under the Securities Act pursuant to Section 9Sections 3 and 4, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Registerable Stock under the Securities Act pursuant to Section 9Sections 3 and 4, the Seller each seller of such Registerable Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Registerable Stock was registered under the Securities Act pursuant to Section 9Sections 3 and 4, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, ; provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and ; provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Registerable Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 6 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 6 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 6 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, ; provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred. No indemnifying party, in defense of any such action, shall, except with the consent of each indemnified party, consent to the entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving, by the claimant or plaintiff, to such indemnified party of a release from all liability in respect to such action.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registerable Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.66; then, and each indemnifying party shall in each lieu of indemnifying such case, the Company and the Seller will indemnified party contribute to the aggregate amount paid or payable by such indemnified party as a result of such losses, claims, damages damages, liabilities or liabilities to which they may be subject (after contribution from others) actions in such proportion so that as appropriate to reflect the Seller is responsible only for relative fault of the portion represented Company, on the one hand, and the holders of such Registerable Stock, as the case may be, on the other, in connection with the statements and omissions which resulted in such losses, claims, damages, liabilities or actions as well as any other relevant equitable considerations, including, without limitation, the failure to give any notice under the third paragraph of this Section 6. The relative fault shall be determined by reference to, among other things, whether the untrue and alleged untrue statement of a material fact relates to information supplied by the percentage that Company, on the public offering price one hand, or the sellers of its securities offered by such Registerable Stock, as the registration statement bears case may be, on the other and to the public offering price parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the sellers of Registerable Stock agree that it would not be just and equitable if contributions pursuant to this paragraph (d) of Section 6 were determined by pro rata allocation (even if all securities offered of the sellers of such Registerable Stock, as the case may be, were treated as one entity for such purpose) or by any other method of allocation which did not take account of the equitable considerations referred to above in this paragraph (d) of Section 6. The amount paid or payable by an indemnified party as a result of the losses, claims, damages, liabilities or action in respect thereof, referred to above in this paragraph (d) of Section 6, shall be deemed to include any legal or other expenses reasonably incurred by such registration statement, indemnified party in connection with investigating or defending any such action or claim; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Registerable Stock offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f12(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Registration Rights Agreement (Appliedtheory Corp), Registration Rights Agreement (Appliedtheory Corp)
Indemnification and Contribution. (a) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9Act, the Company will indemnify and hold harmless each Seller, holder of Registrable Securities included in such registration and each officer of each Seller, each director of each Sellerits directors and officers, each underwriter of such Registrable Securities thereunder and each of its directors and officers, and each other personperson and each of its directors and officers, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act or the Securities Exchange Act of 1934, as amended from time to time (the "Exchange Act"), or otherwise, against any losses, claims, damages or liabilitiesliabilities (or actions in respect thereof), joint or several, to which such seller, underwriter or controlling person (or their respective directors and officers) may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such losses, claims, damages or liabilities (and each of its directors and officers or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities were registered under the Securities Act, any preliminary prospectus or final prospectus contained in the registration statement, or any amendment or supplement to such registration statement, or arise out of or are based upon the omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading; and the Company will reimburse such seller, underwriter and each such controlling person (and their respective directors and officers) for any legal or any other expenses reasonably incurred by such seller, underwriter or controlling person (and their respective directors and officers) in connection with investigating or defending any such loss, claim, damage, liability or action; provided that the Company will not have any liability (and shall not be required to provide such indemnity and hold harmless obligation) to the extent that any such loss, claim, damage or liability arises out of or is based upon any untrue statement or omission made in such registration statement, preliminary prospectus or prospectus, or any such amendment or supplement, in reliance upon and in conformity with written information furnished to the Company through an instrument duly executed by or on behalf of such holder of Registrable Securities or underwriter specifically for use in preparation thereof.
(b) In the event of any registration of any of the Registrable Securities under the Securities Act, each holder of Registrable Securities included in such registration, severally and not jointly, will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each of its directors and officers and each person and each of its directors and officers, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, against losses, claims, damages or liabilities (or actions in respect thereof), joint or several, to which the SellerCompany, or such directors and officers, underwriter or controlling person (or their respective directors and officers) may become subject under the Securities Act, Exchange Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in any registration statement under which such Registrable Securities was were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the registration statement, or any amendment or supplement thereofto the registration statement, or arise out of or are based upon the any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse if the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by or on behalf of such Seller holder, specifically for use in connection with the preparation of such registration statement statement, prospectus, amendment or prospectussupplement; provided the liability of each holder of Registrable Securities pursuant to this Section 8.5(b) shall be limited to the proceeds actually received by such holder from the disposition of the Registrable Securities disposed of by such holder pursuant to such registration.
(c) Each party entitled to indemnification under this Section 8.5 (the "Indemnified Party") shall give notice to the party required to provide indemnification (the "Indemnifying Party") promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any litigation resulting therefrom, provided that counsel for the Indemnifying Party, who shall conduct the defense of such claim or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld, delayed or conditioned), and the Indemnified Party may participate in such defense at such party's expense, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion failure of any such loss, claim, damage, liability or expense which is equal Indemnified Party to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of give notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party as provided herein shall not relieve it from any liability which it may have to such indemnified party other than the Indemnifying Party of its obligations under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if 8.5 (except and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party rights of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after Indemnifying Party are materially prejudiced thereby). After notice from the indemnifying party Indemnifying Party to such indemnified party the Indemnified Party of its election so to assume and undertake the defense thereofof such claim or litigation, the indemnifying party shall Indemnifying Party will not be liable to such indemnified party under this Section 9.6(c) Indemnified Party for any legal or other expenses subsequently incurred by such indemnified party Indemnified Party in connection with the defense thereof other than reasonable costs of investigation so long as and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if extent the interests of Indemnifying Party continues to defend the indemnified party reasonably may be deemed to conflict with Indemnified Party, unless the interests of the indemnifying partyIndemnifying Party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of such separate counsel and other expenses related each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such participation Indemnified Party of a release from all liability in respect to be reimbursed by the indemnifying party as incurredsuch claim or litigation.
(d) In order To the extent the Company after the date hereof shall agree to provide for just and equitable contribution in any written agreement entered into with the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person stockholders of the SellerCompany if the indemnification obligations are otherwise unavailable, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, then the Company and the Seller will contribute shall provide such similar rights to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) Warrantholders in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentationtheir shares.
Appears in 2 contracts
Sources: Warrant Agreement (Florida Power & Light Co), Warrant Agreement (Florida Power & Light Co)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 4, 5 or 6, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained or incorporated by reference in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus; provided further, however, that the Company shall not be liable under this Section 9(a) to any indemnified party with respect to any preliminary prospectus to the extent that any such loss, claim, damage, liability or judgment resulted from the fact that such indemnified party, in contravention of a requirement of applicable law, sold Restricted Stock to a person to whom such indemnified party failed to send or give, on or prior to the closing date of such sale, a copy of the final prospectus, as then amended or supplemented, if (i) the Company has previously furnished copies thereof (sufficiently in advance of such closing date to allow for distribution by the closing date) to such indemnified party, and the loss, claim, damage, liability or judgment of such indemnified party resulted from an untrue statement or omission of a material fact contained in or omitted from the preliminary prospectus that was corrected in the final prospectus as, if applicable, amended or supplemented prior to such closing date, and such final prospectus was required by law to be delivered at or prior to the written confirmation of sale to such person and (ii) the giving or sending of such final prospectus by such closing date to the party or parties asserting such loss, claim, damage, liability or judgment would have constituted a defense to the claim asserted by such person.
(b) In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9Sections 4, the Seller 5 or 6, each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Restricted Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and 9 to the extent that the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the SellerCompany or any holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller Company or any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.69; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection with the statements or omissions that resulted in such loss, claim, damage or liability as well as any other equitable considerations. The relative fault of the Seller is responsible only for indemnifying party and of the portion represented indemnified party shall be determined by referring to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the percentage that the public offering price of its securities offered indemnifying party or by the registration indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement bears to the public offering price of all securities offered by such registration statement, or omission; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public net proceeds from the offering price of all such securities offered Restricted Stock received by it pursuant to such registration statementit; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Investor Rights Agreement, Investor Rights Agreement (Boingo Wireless Inc)
Indemnification and Contribution. (a) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Company will indemnify and hold harmless each SellerSelling Stockholder and the partners, each officer members, officers, directors and stockholders of each Seller, each director of each SellerSelling Stockholder, each underwriter of such Registrable Securities thereunder Shares, and each other person, if any, who controls any such Seller Selling Stockholder or underwriter within the meaning of the Securities Act, Act or the Exchange Act against any expenses, losses, claims, damages or liabilities, joint or several, to which the Sellersuch Selling Stockholder, underwriter, controlling person or such underwriter or controlling other aforementioned person may become subject under the Securities Act Act, the Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was Shares were registered under the Act pursuant to Section 9Securities Act, including any amendments or supplements thereto, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, including any amendments or supplements thereto, (ii) any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law in connection with the Registration Statement or the offering contemplated thereby; and the Company will reimburse the Sellersuch Selling Stockholder, each such underwriter and each such underwriter, controlling person or other aforementioned person for any legal or any other expenses reasonably incurred by them such Selling Stockholder, underwriter, controlling person or other aforementioned person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged any untrue statement or omission made in such Registration Statement, preliminary prospectus or alleged omission so made prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by any or on behalf of such SellerSelling Stockholder, the underwriter or any such underwriter, controlling person in writing or other aforementioned person specifically for use in such registration statement or prospectusthe preparation thereof.
(b) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Seller each Selling Stockholder, severally and not jointly, will indemnify and hold harmless the Company, any other Purchaser under this Agreement selling securities in such registration statement, each of its directors and officers and each underwriter (if any) and each person, if any, who controls the Company Company, such other Purchaser, or any such underwriter within the meaning of the Securities Act or the Exchange Act, each officer of the Company who signs the registration statement and each director of the Company, against all any losses, claims, damages or liabilities, joint or several, to which the Company Company, such other Purchaser, such directors and officers, underwriter or such officer or director controlling person may become subject under the Securities Act Act, Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any a material fact contained in the registration statement any Registration Statement under which such Registrable Securities Shares were registered under the Securities Act pursuant to Section 9Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto the Registration Statement, or arise out of or are based upon the (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if and will reimburse to the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if extent (and only to the extent extent) that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue the statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining relating to such Seller, as such, Selling Stockholder furnished in writing to the Company by such Seller Selling Stockholder specifically for use in connection with the preparation of such registration statement or Registration Statement, prospectus, and amendment or supplement; provided, further, however, that the liability obligations of the Seller a Selling Stockholder hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is an amount equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale to such Selling Stockholder of Registrable Securities covered by Shares sold in connection with such registration statementregistration.
(c) Promptly Each Indemnified Party shall give notice to the Indemnifying Party promptly after receipt by an indemnified party hereunder of notice of the commencement such Indemnified Party has actual knowledge of any actionclaim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such indemnified party shallclaim or any litigation resulting therefrom; provided, if a that counsel for the Indemnifying Party, who shall conduct the defense of such claim in respect thereof is or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld, conditioned or delayed); and, provided, further, that the failure of any Indemnified Party to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party give notice as provided herein shall not relieve it from any liability which it may have to such indemnified party other than the Indemnifying Party of its obligations under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and 2.5 except to the extent that the indemnifying party Indemnifying Party is prejudiced adversely affected by such omissionfailure. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to The Indemnified Party may participate in and, to the extent it shall wish, to assume and undertake the such defense thereof with counsel satisfactory to at such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, ’s expense; provided, however, that, that the Indemnifying Party shall pay such expense if the defendants Indemnified Party reasonably concludes that representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests between the Indemnified Party and any other party represented by such counsel in any such action include both proceeding; provided further that in no event shall the indemnified party and Indemnifying Party be required to pay the indemnifying party and expenses of more than one law firm per jurisdiction as counsel for the indemnified party Indemnified Party. The Indemnifying Party also shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to responsible for the indemnifying party or expenses of such defense if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and Indemnifying Party does not elect to assume such legal defenses and otherwise to participate defense. No Indemnifying Party, in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such separate counsel claim or litigation, and other expenses related no Indemnified Party shall consent to entry of any judgment or settle such participation to claim or litigation without the prior written consent of the Indemnifying Party, which consent shall not be reimbursed by the indemnifying party as incurredunreasonably withheld, conditioned or delayed.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case circumstances in which either (i) the Seller, or any controlling person of the Seller, makes a claim indemnification provided for indemnification pursuant to in this Section 9.6 2.5 is due in accordance with its terms but it for any reason is judicially determined (by held to be unavailable to an Indemnified Party in respect to any losses, claims, damages and liabilities referred to herein, then the entry Indemnifying Party shall, in lieu of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that indemnifying such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such caseIndemnified Party, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate amount paid or payable by such Indemnified Party as a result of such losses, claims, damages or liabilities to which they such party may be subject (after contribution from others) in such proportion so that as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented Company on the one hand and the Selling Stockholders on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Selling Stockholders shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of material fact related to information supplied by the percentage Company or the Selling Stockholders and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Selling Stockholders agree that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will it would not be required to contribute any amount in excess of the public offering price of all such securities offered by it just and equitable if contribution pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.this Section
Appears in 2 contracts
Sources: Investor Rights Agreement (Constellation Pharmaceuticals Inc), Investor Rights Agreement (Constellation Pharmaceuticals Inc)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 4, 5 or 6, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or any free writing prospectus, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person seller in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9Sections 4, the Seller 5 or 6, each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Restricted Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 9 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; 9 then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so as is appropriate to reflect the relative fault of each of the parties in connection with the statements, omissions, or other actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant equitable considerations. The relative fault of the Seller is responsible only for indemnifying party and of the portion represented indemnified party shall be determined by reference to, among other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged omission of a material fact, relates to information supplied by the percentage that the public offering price of its securities offered indemnifying party or by the registration indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement bears to the public offering price of all securities offered by such registration statement, or omission; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the net proceeds from the public offering price of all such securities offered Restricted Stock sold by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Investor Rights Agreement, Investor Rights Agreement (Mevion Medical Systems, Inc.)
Indemnification and Contribution. (a) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each SellerSelling Stockholder, each underwriter of such Registrable Securities thereunder Shares, and each other person, if any, who controls any such Seller Selling Stockholder or underwriter within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch Selling Stockholder, or such underwriter or controlling person may become subject under the Securities Act Act, the Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was Shares were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto such Registration Statement, or arise out of or are based upon (ii) the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law in connection with the Registration Statement or the offering contemplated thereby; and the Company will reimburse the Sellersuch Selling Stockholder, each such underwriter and each such controlling person for any legal or any other expenses reasonably incurred by them such Selling Stockholder, underwriter or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged any untrue statement or omission made in such Registration Statement, preliminary prospectus or alleged omission so made prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by any or on behalf of such SellerSelling Stockholder, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectusthe preparation thereof.
(b) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Seller each Selling Stockholder, severally and not jointly, will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each person, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, each officer of the Company who signs the registration statement and each director of the Company, against all any losses, claims, damages or liabilities, joint or several, to which the Company Company, such directors and officers, underwriter or such officer or director controlling person may become subject under the Securities Act Act, Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any a material fact contained in the registration statement any Registration Statement under which such Registrable Securities Shares were registered under the Securities Act pursuant to Section 9Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto the Registration Statement, or arise out of or are based upon the (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if and will reimburse to the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if extent (and only to the extent extent), in the case of both clauses (i) and (ii), that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue the statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining relating to such Seller, as such, Selling Stockholder furnished in writing to the Company by or on behalf of such Seller Selling Stockholder specifically for use in connection with the preparation of such registration statement or Registration Statement, prospectus, and amendment or supplement; provided, further, however, that the liability obligations of the Seller a Selling Stockholder hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is an amount equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale to such Selling Stockholder of Registrable Securities covered by Shares sold in connection with such registration statementregistration.
(c) Promptly Each Indemnified Party shall give notice to the Indemnifying Party promptly after receipt by an indemnified party hereunder of notice of the commencement such Indemnified Party has actual knowledge of any actionclaim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such indemnified party shallclaim or any litigation resulting therefrom; provided, if a that counsel for the Indemnifying Party, who shall conduct the defense of such claim in respect thereof is or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld, conditioned or delayed); and, provided, further, that the failure of any Indemnified Party to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party give notice as provided herein shall not relieve it from any liability which it may have to such indemnified party other than the Indemnifying Party of its obligations under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and 2.5 except to the extent that the indemnifying party Indemnifying Party is prejudiced adversely affected by such omissionfailure. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to The Indemnified Party may participate in and, to the extent it shall wish, to assume and undertake the such defense thereof with counsel satisfactory to at such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, ’s expense; provided, however, that, that the Indemnifying Party shall pay such expense if the defendants Indemnified Party reasonably concludes that representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests between the Indemnified Party and any other party represented by such counsel in any such action include both proceeding; provided further that in no event shall the indemnified party and Indemnifying Party be required to pay the indemnifying party and expenses of more than one law firm per jurisdiction as counsel for the indemnified party Indemnified Party. The Indemnifying Party also shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to responsible for the indemnifying party or expenses of such defense if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and Indemnifying Party does not elect to assume such legal defenses and otherwise to participate defense. No Indemnifying Party, in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such separate counsel claim or litigation, and other expenses related no Indemnified Party shall consent to entry of any judgment or settle such participation to claim or litigation without the prior written consent of the Indemnifying Party, which consent shall not be reimbursed by the indemnifying party as incurredunreasonably withheld, conditioned or delayed.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case circumstances in which either (i) the Seller, or any controlling person of the Seller, makes a claim indemnification provided for indemnification pursuant to in this Section 9.6 2.5 is due in accordance with its terms but it for any reason is judicially determined (by held to be unavailable to an Indemnified Party in respect to any losses, claims, damages and liabilities referred to herein, then the entry Indemnifying Party shall, in lieu of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that indemnifying such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such caseIndemnified Party, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate amount paid or payable by such Indemnified Party as a result of such losses, claims, damages or liabilities to which they such party may be subject (after contribution from others) in such proportion so that as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented Company on the one hand and each Selling Stockholder on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and each Selling Stockholder shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of material fact related to information supplied by the percentage Company or a Selling Stockholder and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Selling Stockholders agree that it would not be just and equitable if contribution pursuant to this Section 2.5(d) were determined by pro rata allocation or by any other method of allocation which does not take account of the public offering price equitable considerations referred to above. Notwithstanding the provisions of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such casethis Section 2.5(d), (Ai) the Seller will not in no case shall any one Selling Stockholder be required to contribute liable or responsible for any amount in excess of the public net proceeds received by such Selling Stockholder from the offering price of all such securities offered by it pursuant to such registration statement; Registrable Shares and (Bii) the Company shall be liable and responsible for any amount in excess of such proceeds; provided, however, that no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. Any party entitled to contribution will, promptly after receipt of notice of commencement of any action, suit or proceeding against such party in respect of which a claim for contribution may be made against another party or parties under this Section 2.5(d), notify such party or parties from whom contribution may be sought, but the omission so to notify such party or parties from whom contribution may be sought shall not relieve such party from any other obligation it or they may have thereunder or otherwise under this Section 2.5(d). No party shall be liable for contribution with respect to any action, suit, proceeding or claim settled without its prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed.
(e) The rights and obligations of the Company and the Selling Stockholders under this Section 2.5 shall survive the termination of this Agreement.
Appears in 2 contracts
Sources: Investor Rights Agreement, Investor Rights Agreement (Agios Pharmaceuticals Inc)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 4, 5 or 6, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9Sections 4, the Seller 5 or 6, each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Restricted Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 9 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.69; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Restricted Stock offered by the registration statement bears to the public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Restricted Stock offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 2 contracts
Sources: Registration Rights Agreement (Apropos Technology Inc), Registration Rights Agreement (Apropos Technology Inc)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act are included pursuant to a registration statement under this Section 97:
(i) To the extent permitted by law, the Company will indemnify and hold harmless each SellerHolder, each officer of each Seller, each director of each Seller, each any underwriter of such Registrable (as defined in the Securities thereunder Act) and each other person, person if any, who controls any such Seller Holder or underwriter within the meaning of the Securities Act or the Securities Exchange Act of 1934, as amended (the "Exchange Act, ") against any losses, claims, damages or liabilities, liabilities (joint or several, ) to which the Seller, they or such underwriter or controlling person any of them may become subject under the Securities Act, the Exchange Act or otherwiseany other federal or state law, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements, omissions or violations (collectively a "Violation"): (A) any untrue statement or alleged untrue statement of any a material fact contained in any such registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9statement, including any preliminary prospectus or (but only if such is not corrected in the final prospectus prospectus) contained therein, therein or any amendment amendments or supplement thereofsupplements thereto, or arise out of or are based upon (B) the omission or alleged omission to state therein a material fact required to be stated therein therein, or necessary to make the statements therein not misleadingmisleading (but only if such is not corrected in the final prospectus), or (C) any violation or alleged violation by the Company in connection with the registration of Registrable Securities under the Securities Act, the Exchange Act, any state securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law; and the Company will reimburse the Seller, pay to each such Holder, underwriter and each such or controlling person for person, as incurred, any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the indemnity agreement contained in this Section 7(j)(i) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Company will (which consent shall not be unreasonably withheld), nor shall the Company be liable in any such case if and to the extent that for any such loss, claim, damage damage, liability or liability action to the extent that it arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made a violation which occurs in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by any such SellerHolder, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectusperson.
(bii) In To the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9extent permitted by law, the Seller each selling Holder will indemnify and hold harmless the Company, and each of its directors, each of its officers who has signed the registration statement, each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the any underwriter, any other Holder selling securities in such registration statement and each director any controlling person of the Companyany such underwriter or other Holder, against all any losses, claims, damages or liabilities, liabilities (joint or several, ) to which any of the Company or such officer or director foregoing persons may become subject subject, under the Securities Act, the Exchange Act or otherwiseother federal or state law, insofar as such losses, claims, damages or liabilities (or actions in respect thereofthereto) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained Violation, in each case to the registration statement under which extent (and only to the extent) that such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based Violation occurs in reliance upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company in conformity with written information furnished by such Holder expressly for use in connection with such registration; and each such officer or director for Holder will pay, as incurred, any legal or other expenses reasonably incurred by them any person intended to be indemnified pursuant to this Section 7(j)(ii), in connection with investigating or defending any such loss, claim, damage, liability or action, ; provided, however, that the Seller will be liable hereunder indemnity agreement contained in any such case if and only this Section 7(j)(ii) shall not apply to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made amounts paid in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion settlement of any such loss, claim, damage, liability or expense which action if such settlement is equal to effected without the proportion that the public offering price consent of the Registrable Securities sold by the Seller Holder, which consent shall not be unreasonably withheld; provided that in no event shall any indemnity under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to this Section 7(j)(ii) exceed the net proceeds from the offering received by the Seller from the sale of Registrable Securities covered by such registration statementHolder.
(ciii) Promptly after receipt by an indemnified party hereunder under this Section 7(j) of notice of the commencement of any action (including any governmental action), such indemnified party shallwill, if a claim in respect thereof is to be made against any indemnifying party under this Section 7(j), deliver to the indemnifying party hereunder, notify a written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party shall have the right to retain its own counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in writing thereofsuch proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action, if prejudicial to its ability to defend such action, shall relieve such indemnifying party of any liability to the indemnified party under this Section 7(j), but the omission so to notify deliver written notice to the indemnifying party shall will not relieve it from of any liability which that it may have to such any indemnified party other otherwise than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred7(j).
(div) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case circumstances in which either (ithe indemnification provided for in Section 7(j)(i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under is applicable but for any reason is held to be unavailable from the Securities Act may be required on the part of the Seller Company with respect to all Holders or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such caseany Holder, the Company and the Seller will Holder or Holders, as the case may be, shall contribute to the aggregate losses, claims, damages and liabilities (including any investigation, legal and other expenses incurred in connection with, and any amount paid in settlement of, any action, suit or liabilities proceeding or any claims asserted) to which they the Company and one or more of the Holders may be subject (after contribution from others) in such proportion so that as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented by Company on the percentage that one hand, and the public offering price of its securities offered by Holder or Holders on the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, thatother, in any connection with statements or omissions which resulted in such caselosses, (A) claims, damages or liabilities. Notwithstanding the Seller will not foregoing, no Holder shall be required to contribute any amount in excess of the public offering price of all net proceeds received by such securities offered Holder from the Registrable Securities as the case may be, sold by it such Holder pursuant to such the registration statement; and (B) no . No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. Each person, if any, who controls a Holder within the meaning of the Securities Act shall have the same rights to contribution as such Holder.
(v) The obligations of the Company and Holders under this Section 7(j) shall survive the completion of any offering of Registrable Securities in a registration statement under this Section 7 or otherwise.
Appears in 2 contracts
Sources: Warrant Agreement (National Media Corp), Warrant Agreement (National Media Corp)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant to Section 9, the Company Transferor will indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder Underwriter and each other person, if any, Person who controls any such Seller or underwriter Underwriter within the meaning of the Securities Act, Act against any losses, claims, damages or liabilities, joint or several, to which the Seller, Underwriters or such underwriter or controlling person any of them may become subject under the Securities Act or otherwisesubject, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under Registration Statement, the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, Prospectus or any amendment or supplement thereofthereto, or any related preliminary prospectus, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company each Underwriter and each such officer or director Person who controls any Underwriter within the meaning of the Securities Act for any actual legal or other expenses reasonably incurred by them the Underwriter in connection with investigating or defending any such loss, claim, damage, liability or action, action as such expenses are incurred; provided, however, that the Seller Transferor will not be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement in or omission or alleged omission from any of such documents in reliance upon and in conformity with written information furnished to Transferor by any Underwriter specifically for use therein.
(b) Each Underwriter, severally, agrees to indemnify and hold harmless Transferor against any losses, claims, damages or liabilities to which Transferor may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the Registration Statement, the Prospectus or any amendment or supplement thereto, or any related preliminary prospectus, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information pertaining furnished to such Seller, as such, furnished in writing to the Company Transferor by such Seller Underwriter specifically for use in such registration statement or prospectustherein, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of will reimburse any actual legal or other expenses reasonably incurred by Transferor in connection with investigating or defending any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under action as such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementexpenses are incurred.
(c) Promptly after receipt by an indemnified party hereunder under this Section of notice of the commencement of any actionaction or the assertion by a third party of a claim, such indemnified party shallwill, if a claim in respect thereof is to be made against the indemnifying party hereunderunder subsection (a) or (b) above, notify the indemnifying party in writing of the commencement thereof, ; but the omission so to notify the indemnifying party shall will not relieve it from any liability which it may have to such any indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if except and to the extent the of any prejudice to such indemnifying party is prejudiced by arising from such omissionfailure to provide such notice. In case any such action shall be is brought against any indemnified party and it shall notify notifies the indemnifying party of the commencement thereof, the indemnifying party shall will be entitled to participate in therein and, to the extent that it shall may wish, jointly with any other indemnifying party similarly notified, to assume and undertake the defense thereof thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, andbe counsel to the indemnifying party), and after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall will not be liable to such indemnified party under this Section 9.6(c) for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the investigation. No indemnifying party and shall, without the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests prior written consent of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, effect any settlement of any pending or threatened action in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party unless such settlement includes an unconditional release of such indemnified party from all liability on any claims that are the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense subject matter of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide If the indemnification provided for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined unavailable or insufficient to hold harmless an indemnified party under subsection (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeala) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (iib) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; thenabove, and in then each such case, the Company and the Seller will indemnifying party shall contribute to the aggregate amount paid or payable by such indemnified party as a result of the losses, claims, damages or liabilities referred to which they may be subject in subsection (after contribution from othersa) or (b) above (i) in such proportion so that as is appropriate to reflect the Seller relative benefits received by Transferor on the one hand and the Underwriters on the other from the offering of the Class A Certificates or (ii) if the allocation provided by clause (i) above is responsible not permitted by applicable law, in such proportion as is appropriate to reflect not only for the portion represented relative benefits referred to in clause (i) above but also the relative fault of Transferor on the one hand and the Underwriters on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities as well as any other relevant equitable considerations. The relative benefits received by Transferor on the one hand and the Underwriters on the other shall be deemed to be in the same proportion as the total net proceeds from the offering of the Class A Certificates (before deducting expenses) received by Transferor bear to the total underwriting discounts and commissions received by the percentage that Underwriters. The relative fault shall be determined by reference to, among other things, whether the public offering price untrue or alleged untrue statement of its securities offered a material fact or the omission or alleged omission to state a material fact relates to information supplied by Transferor or the registration Underwriters and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement bears or omission. The amount paid by an indemnified party as a result of the losses, claims, damages or liabilities referred to in the public offering price first sentence of all securities offered this subsection (d) shall be deemed to include any legal or other expenses reasonably incurred by such registration statementindemnified party in connection with investigating or defending any action or claim which is the subject of this subsection (d). Notwithstanding the provisions of this subsection (d), provided, however, that, in any such case, (A) the Seller will not no Underwriter shall be required to contribute any amount in excess of the public offering price of all underwriting discount applicable to the Class A Certificates purchased by such securities offered by it pursuant to such registration statement; and (B) no person or entity Underwriter hereunder. No Person guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity Person who was not guilty of such fraudulent misrepresentation.
(e) The obligations of Transferor under this Section shall be in addition to any liability that Transferor may otherwise have and shall extend, upon the same terms and conditions, to each Person, if any, who controls any Underwriter within the meaning of the Securities Act; and the obligations of any Underwriter under this Section shall be in addition to any liability that such Underwriter may otherwise have and shall extend, upon the same terms and conditions, to each director of Transferor, to each officer of Transferor who signed the Registration Statement and to each Person, if any, who controls Transferor within the meaning of the Securities Act.
Appears in 2 contracts
Sources: Underwriting Agreement (Mellon Bank Premium Finance Loan Master Trust), Underwriting Agreement (Mellon Bank Premium Finance Master Trust)
Indemnification and Contribution. (a) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9the terms of this Agreement, the Company will indemnify and hold harmless each Sellerand pay and reimburse, each officer of each Seller, each director of each Sellerthe Investor thereunder, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act or the Exchange Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch Investor, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was were registered under the Securities Act pursuant to Section 9, hereto or any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or any violation or alleged violation of the Securities Act or any state securities or “blue sky” laws and will reimburse the Sellereach such Investor, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon the Company’s reliance on an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement Registration Statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9hereto, the Seller each seller of such Registrable Securities thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and Registration Statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon reliance on any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, hereto or any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, ; provided that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement Registration Statement or prospectus, ; and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion proceeds received by such seller from the sale of Registrable Securities covered by such Registration Statement. Notwithstanding the foregoing, the indemnity provided in this Section 8(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or expense which if such settlement is equal effected without the consent of such indemnified party and provided further, that the Company shall not be liable in any such case pursuant to this Section 8 to the proportion extent that any such loss, claim, damage or liability (or action in respect thereof) arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission in such Registration Statement, which untrue statement or alleged untrue statement or omission or alleged omission is completely corrected in an amendment or supplement to the public offering price Registration Statement and the undersigned indemnitees thereafter fail to deliver or cause to be delivered such Registration Statement as so amended or supplemented prior to or concurrently with the sale of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunderperson asserting such loss, but not claim, damage or liability (or actions in any event to exceed respect thereof) or expense after the net proceeds received by Company has furnished the Seller from undersigned with the sale of Registrable Securities covered by such registration statementsame.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 8 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 8 if and to the extent the indemnifying party is materially prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 8 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, ; provided that if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded based upon written advice of its counsel that there may be reasonable defenses available to it which that are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registrable Securities exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 8 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 8 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.68; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Registrable Securities offered by the registration statement Registration Statement bears to the public offering price of all securities offered by such registration statementRegistration Statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Registrable Securities offered by it pursuant to such registration statement; Registration Statement and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f12(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 1 contract
Sources: Registration Rights Agreement (Pershing Gold Corp.)
Indemnification and Contribution. (a) 5.1 In the event of a any registration of any Registrable Securities under the Securities Act of any Registrable Shares pursuant to Section 9this Agreement, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter the seller of such Registrable Securities thereunder Shares and each other person, if any, who controls any such Seller or underwriter seller within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter seller or controlling person may become subject under the Securities Act Act, the Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was Shares were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto such Registration Statement, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, ; and the Company will reimburse the Seller, each such underwriter seller and each such controlling person for any legal or any other expenses reasonably incurred by them such seller or controlling person in connection with investigating or defending any such loss, claim, damage, liability or actionaction as and when incurred by them; providedPROVIDED, howeverHOWEVER, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged any untrue statement or omission made in such Registration Statement, preliminary prospectus or alleged omission so made final prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by any or on behalf of such Seller, the underwriter seller or any such controlling person in writing specifically for use in such registration statement or prospectusthe preparation thereof.
(b) 5.2 In the event of a any registration under the Securities Act of any of the Registrable Securities under the Act Shares pursuant to Section 9this Agreement, the Seller each seller of Registrable Shares, severally and not jointly, will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each person, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, each officer of the Company who signs the registration statement and each director of the Company, against all any losses, claims, damages or liabilities, joint or several, to which the Company Company, such directors and officers, underwriter or such officer or director controlling person may become subject under the Securities Act Act, Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in the registration statement any Registration Statement under which such Registrable Securities Shares were registered under the Securities Act pursuant to Section 9Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto the Registration Statement, or arise out of or are based upon the any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse if the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining relating to such Seller, as such, seller furnished in writing to the Company by or on behalf of such Seller seller specifically for use in connection with the preparation of such registration statement or Registration Statement, prospectus, and providedamendment or supplement; PROVIDED, further, howeverHOWEVER, that the liability obligations of the Seller such Rights Holders hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is an amount equal to the proportion that proceeds to each Rights Holder of Registrable Shares sold in connection with such registration. The terms of any underwriting agreement entered into by the public offering price Company to effect a registration of the Registrable Securities sold shall require the underwriter to indemnify and hold harmless the Company, its officers, directors, controlling persons and agents and each selling Rights Holder on substantially the same basis as that of the indemnification of the Company by the Seller each selling holder as provided in this Section 5.
5.3 Each party entitled to indemnification under such registration statement bears this Section 5 ("INDEMNIFIED PARTY") shall give notice to the total public offering price of all securities sold thereunder, but not in any event party required to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by provide indemnification ("INDEMNIFYING PARTY") promptly after such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement Indemnified Party has actual knowledge of any actionclaim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such indemnified party shallclaim or any litigation resulting therefrom; PROVIDED, if a claim in respect thereof is HOWEVER, that the failure of any Indemnified Party to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party give notice as provided herein shall not relieve it from any liability which it may have to such indemnified party other than the Indemnifying Party of its obligations under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and 5 (except to the extent such failure to give notice has resulted in increased losses, damages or liabilities for the indemnifying party is prejudiced by Indemnifying Party). The Indemnified Party may participate in such omission. In case defense at such party's expense and the Indemnified Party and not the Indemnifying Party shall bear or be responsible for the expenses thereof, unless:
(a) the Indemnifying Party and the Indemnified Party shall have mutually agreed to the retention of such counsel, or
(b) the named parties to any such action shall be brought against proceeding (including any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(cimpleaded parties) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party Indemnified Party and the indemnifying party Indemnifying Party and representation both parties by the indemnified party shall have reasonably concluded that there may same counsel would be reasonable defenses available inappropriate due to it which are different from actual or additional to those available to the indemnifying party or if the potential differing interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying partybetween them. No Indemnifying Party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such separate counsel claim or litigation, and other expenses related no Indemnified Party shall consent to entry of any judgment or settle such participation to claim or litigation without the prior written consent of the Indemnifying Party, which shall not be reimbursed by the indemnifying party as incurredunreasonably withheld.
(d) 5.4 In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either either:
(ia) the Sellerany holder of Registrable Shares exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 5 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 5 provides for indemnification in such case, or ; or
(iib) contribution under the Securities Act may be required on the part of the Seller any such selling Rights Holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.65; then, and in each such case, the Company and the Seller such Rights Holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that proportions as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented by Indemnifying Party and Indemnified Parties in connection with the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by actions which resulted in such registration statementlosses, providedclaims, howeverdamages, liabilities or expenses, as well as any other relevant equitable considerations; PROVIDED, HOWEVER, that, in any such case, :
(Ai) the Seller no such holder will not be required to contribute any amount in excess of the public offering price proceeds to it of all such securities offered Registrable Shares sold by it pursuant to such registration statementRegistration Statement; and and
(Bii) no person or entity guilty of fraudulent misrepresentation (misrepresentation, within the meaning of Section 10(f11(f) of the Securities Act) will , shall be entitled to contribution from any person or entity who was is not guilty of such fraudulent misrepresentation.
Appears in 1 contract
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities Stock under the Securities Act pursuant to Section 9this Article IV, the Company Welcome Home will indemnify and hold harmless each Seller, each officer of each Seller, each director of each SellerJordan Industries, each underwriter (if any) of such Registrable Securities Stock thereunder and each other person, if any, who controls any Jordan Industries or such Seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the SellerJordan Industries, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or -19- liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Stock was registered under the Securities Act pursuant to Section 9this Article IV, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the SellerJordan Industries, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company Welcome Home will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished in writing by Jordan Industries, any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Stock under the Securities Act pursuant to Section 9this Article IV, the Seller Jordan Industries will indemnify and hold harmless the CompanyWelcome Home, and each person, if any, who controls the Company Welcome Home within the meaning of the Securities Act, each officer of the Company Welcome Home who signs the registration statement and statement, each director of Welcome Home, each underwriter and each person who controls any underwriter within the Companymeaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company Welcome Home or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Stock was registered under the Securities Act pursuant to Section 9this Article IV, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company Welcome Home and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, ; provided, however, that the Seller Jordan Industries will not be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to furnished by Welcome Home, any such Seller, as such, furnished underwriter or any such controlling person in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and ; provided, further, however, that the liability of the Seller hereunder Jordan Industries shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller Jordan Industries under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller Jordan Industries from the sale of the Registrable Securities Stock covered by such registration statement (as further reduced by any damages or other amounts such seller was otherwise required to pay by reason of such omission or alleged omission or such untrue or alleged untrue statement).
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any -20- liability which it may have to such indemnified party other than under this Section 9.6(c) 4.6 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 4.6 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 4.6 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, ; provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel reasonably acceptable to the indemnifying party and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order . No indemnifying party, in defense of any such action, shall, except with the consent of each indemnified party, consent to provide for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final any judgment or decree by a court of competent jurisdiction and enter into any settlement which does not include as an unconditional term thereof the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such casegiving, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statementclaimant or plaintiff, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty indemnified party of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled a release from all liability in respect to contribution from any person or entity who was not guilty of such fraudulent misrepresentationaction.
Appears in 1 contract
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant to Section 910, the Company will indemnify and hold harmless each the Seller, each officer of each the Seller, each director of each the Seller, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, losses claims, damages or liabilities (or actions in respect thereof) thereof arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was registered under the Act pursuant to Section 910, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 910, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 910, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net gross proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c10.4(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c10.4(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c10.4(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 10.4 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 10.4 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.610.4; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 1 contract
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant to Section 9The Company and each Senior Management Stockholder, the Company jointly and severally, will indemnify and hold harmless each SellerUnderwriter, each officer of each Sellerits partners, each director of each Seller, each underwriter of such Registrable Securities thereunder directors and officers and each other person, if any, any who controls any such Seller or underwriter Underwriter within the meaning of Section 15 of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter or controlling person Underwriter may become subject subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was registered under Registration Statement, the Act pursuant to Section 9, any preliminary prospectus or final prospectus contained thereinProspectus, or any amendment or supplement thereofthereto, or any related preliminary prospectus, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter and each such controlling person Underwriter for any legal or other expenses reasonably incurred by them such Underwriter in connection with investigating or defending any such loss, claim, damage, liability or actionaction as such expenses are incurred; provided, however, that none of the Company or such Senior Management Stockholder will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement in or omission or alleged omission so made from any of such documents in reliance upon and in conformity with written information furnished to the Company by any Underwriter through the Representatives specifically for use therein, it being understood and agreed that the only such information furnished by any Underwriter consists of the information described as such Sellerin subsection (c) below; provided, that the underwriter or any liability of such controlling person in writing specifically for use in Senior Management Stockholder pursuant to this subsection (a) shall be limited to an amount equal to the aggregate net proceeds (before deducting expenses) to such registration statement or prospectusSenior Management Stockholder from the sale of Securities by such Senior Management Stockholder.
(b) In the event of a registration of any Each of the Registrable Securities under Selling Stockholders (other than the Act pursuant to Section 9Senior Management Stockholders), the Seller jointly and severally, will indemnify and hold harmless the Companyeach Underwriter, its partners, directors and officers and each person, if any, person who controls the Company such Underwriter within the meaning of Section 15 of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all any losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director Underwriter may become subject subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any Registration Statement, the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained thereinProspectus, or any amendment or supplement thereofthereto, or any related preliminary prospectus, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in any Registration Statement or the Prospectus or any such amendment or supplement in reliance upon and in conformity with written information furnished to the Company by such Selling Stockholder (other than Senior Management Stockholders) expressly for use therein; and will reimburse the Company and each such officer or director Underwriter for any legal or other expenses reasonably incurred by them such Underwriter in connection with investigating or defending any such loss, claim, damage, liability or action, action as such expenses are incurred; provided, however, further, that the Seller such Selling Stockholder will not be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement in or omission or alleged omission from any of such documents in reliance upon and in conformity with written information furnished to the Company by an Underwriter through the Representatives specifically for use therein, it being understood and agreed that the only such information furnished by any Underwriter consists of the information described as such in subsection (c) below; and provided, further, that the liability of such Selling Stockholder pursuant to this subsection (b) shall be limited to an amount equal to the aggregate net proceeds (before deducting expenses) to such Selling Stockholder from the sale of Securities by such Selling Stockholder.
(c) Each Underwriter will severally and not jointly indemnify and hold harmless the Company, its directors and officers and each person, if any, who controls the Company within the meaning of Section 15 of the Act, and each Selling Stockholder against any losses, claims, damages or liabilities to which the Company or such Selling Stockholder may become subject, under the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any Registration Statement, the Prospectus, or any amendment or supplement thereto, or any related preliminary prospectus, or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information pertaining to such Seller, as such, furnished in writing to the Company by such Seller Underwriter through the Representatives specifically for use in such registration statement or prospectustherein, and provided, further, however, that will reimburse any legal or other expenses reasonably incurred by the liability of the Seller hereunder shall be limited to the proportion of Company and each Selling Stockholder in connection with investigating or defending any such loss, claim, damage, liability or expense which is equal to the proportion action as such expenses are incurred, it being understood and agreed that the public offering price only such information furnished by any Underwriter consists of the Registrable Securities sold by following information in the Seller Prospectus furnished on behalf of each Underwriter: the concession and reallowance figures appearing in the fourth paragraph under such registration statement bears to the total public offering price of all securities sold thereundercaption "Underwriting" and the information contained in the ninth, but not in any event to exceed tenth and eleventh paragraphs under the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementcaption "Underwriting".
(cd) Promptly after receipt by an indemnified party hereunder under this Section of notice of the commencement of any action, such indemnified party shallwill, if a claim in respect thereof is to be made against the an indemnifying party hereunderunder subsection (a), (b) or (c) above, notify the indemnifying party in writing of the commencement thereof, ; but the omission so to notify the indemnifying party shall will not relieve it from any liability which it may have to such any indemnified party other otherwise than under this Section 9.6(csubsection (a), (b) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(cor (c) if and above except to the extent the indemnifying party is actually prejudiced by such omissionthereby. In case any such action shall be is brought against any indemnified party and it shall notify the notifies an indemnifying party of the commencement thereof, the indemnifying party shall will be entitled to participate in therein and, to the extent that it shall may wish, jointly with any other indemnifying party similarly notified, to assume and undertake the defense thereof thereof, with counsel satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, andbe counsel to the indemnifying party), and after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall will not be liable to such indemnified party under this Section 9.6(c) for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the investigation. No indemnifying party and shall, without the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests prior written consent of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the effect any settlement of any pending or threatened action in respect of which any indemnified parties shall party is or could have the right to select one separate counsel been a party and to assume indemnity could have been sought hereunder by such legal defenses and otherwise to participate in the defense indemnified party unless such (i) settlement includes an unconditional release of such action, with indemnified party from all liability on any claims that are the reasonable expenses and fees subject matter of such separate counsel action and other expenses related (ii) does not include a statement as to, or an admission of, fault, culpability or a failure to such participation to be reimbursed act by the indemnifying party as incurredor on behalf of an indemnified party.
(de) In order to provide If the indemnification provided for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined unavailable or insufficient to hold harmless an indemnified party under subsection (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeala), (b) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (iic) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; thenabove, and in then each such case, the Company and the Seller will indemnifying party shall contribute to the aggregate amount paid or payable by such indemnified party as a result of the losses, claims, damages or liabilities referred to which they may be subject in subsection (after contribution from othersa), (b) or (c) above (i) in such proportion so that as is appropriate to reflect the Seller is responsible only for the portion represented relative benefits received by the percentage that Company and the public Selling Stockholders on the one hand and the Underwriters on the other from the offering price of its securities offered the Securities or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company and the Selling Stockholders on the one hand and the Underwriters on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities as well as any other relevant equitable considerations. The relative benefits received by the registration statement bears Company and the Selling Stockholders on the one hand and the Underwriters on the other shall be deemed to be in the same proportion as the total net proceeds from the offering (before deducting expenses) received by the Company and the Selling Stockholders bear to the public offering price total underwriting discounts and commissions received by the Underwriters. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of all securities offered a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company, the Selling Stockholders or the Underwriters and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The amount paid by an indemnified party as a result of the losses, claims, damages or liabilities referred to in the first sentence of this subsection (e) shall be deemed to include any legal or other expenses reasonably incurred by such registration statementindemnified party in connection with investigating or defending any action or claim which is the subject of this subsection (e). Notwithstanding the provisions of this subsection (e), provided, however, that, in any such case, (A) the Seller will not no Underwriter shall be required to contribute any amount in excess of the public offering amount by which the total price of all such securities offered at which the Securities underwritten by it pursuant and distributed to the public were offered to the public exceeds the amount of any damages which such registration statement; and (B) no Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. The Underwriters' obligations in this subsection (e) to contribute are several in proportion to their respective underwriting obligations and not joint.
(f) The obligations of the Company and the Selling Stockholders under this Section shall be in addition to any liability which the Company and the Selling Stockholders may otherwise have and shall extend, upon the same terms and conditions, to each person, if any, who controls any Underwriter (as hereinafter defined) within the meaning of the Act; and the obligations of the Underwriters under this Section shall be in addition to any liability which the respective Underwriters may otherwise have and shall extend, upon the same terms and conditions, to each director of the Company, to each officer of the Company who has signed a Registration Statement and to each person, if any, who controls the Company within the meaning of the Act.
Appears in 1 contract
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant The Company agrees to Section 9, the Company will -------------------------------- indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder Underwriter and each other person, if any, who controls any such Seller or underwriter Underwriter within the meaning of either Section 15 of the Securities Act, Act or Section 20 of the Exchange Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or liabilities, joint other expenses reasonably incurred by any Underwriter or several, to which the Seller, or any such underwriter or controlling person may become subject under the Securities Act in connection with investigating or otherwise, insofar as defending any such losses, claims, damages action or liabilities (or actions in respect thereofclaim) arise out of or are based upon caused by any untrue statement or alleged untrue statement of any a material fact contained in the Registration Statement or any registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9amendment thereof, any preliminary prospectus or final prospectus contained thereinthe Prospectus (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto), or caused by any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellerexcept insofar as such losses, each such underwriter and each such controlling person for any legal claims, damages or other expenses reasonably incurred liabilities are caused by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or omission or alleged untrue statement or omission or alleged omission so made in conformity with based upon information relating to any Underwriter furnished by any such Seller, to the underwriter or any such controlling person Company in writing specifically by such Underwriter through the Manager expressly for use in such registration statement or prospectustherein.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant Each Underwriter agrees, severally and not jointly, to Section 9, the Seller will indemnify and hold harmless the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either Section 15 of the Securities Act, each officer Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Company who signs to such Underwriter, but only with reference to information relating to such Underwriter furnished to the registration statement Company in writing by such Underwriter through the Manager expressly for use in the Registration Statement, any preliminary prospectus, the Prospectus or any amendments or supplements thereto.
(c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to either paragraph (a) or (b) above, such person (the "indemnified party") shall promptly notify the person against whom such indemnity may be sought (the "indemnifying party") in writing and each director the indemnifying party, upon request of the indemnified party, shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all such indemnified parties and that all such fees and expenses shall be reimbursed as they are incurred. Such firm shall be designated in writing by the Manager, in the case of parties indemnified pursuant to paragraph (a) above, and by the Company, in the case of parties indemnified pursuant to paragraph (b) above. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement. No indemnifying party shall, without the prior written consent of the indemnified party (which consent shall not be unreasonably withheld), effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such proceeding.
(d) To the extent the indemnification provided for in paragraph (a) or (b) of this Section 8 is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilitiesliabilities referred to therein, joint then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or several, to which the Company or payable by such officer or director may become subject under the Securities Act or otherwise, insofar indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and the Underwriters on the other hand from the offering of the Debt Securities or actions (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in respect thereofsuch proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) arise out above but also the relative fault of the Company on the one hand and of the Underwriters on the other hand in connection with the statements or are based upon omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Company on the one hand and the Underwriters on the other hand in connection with the offering of the Debt Securities shall be deemed to be in the same respective proportions as the net proceeds from the offering of such Debt Securities (before deducting expenses) received by the Company and the total underwriting discounts and commissions received by the Underwriters, in each case as set forth in the table on the cover of the Prospectus Supplement, bear to the aggregate public offering price of the Debt Securities. The relative fault of the Company on the one hand and of the Underwriters on the other hand shall be determined by reference to, among other things, whether the untrue statement or alleged untrue statement of any a material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required relates to be stated therein information supplied by the Company or necessary by the Underwriters and the parties' relative intent, knowledge, access to make information and opportunity to correct or prevent such statement or omission. The Underwriters' respective obligations to contribute pursuant to this Section 8 are several in proportion to the statements therein not misleadingrespective principal amounts of Debt Securities they have purchased hereunder, and will reimburse the not joint.
(e) The Company and each the Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 8 were determined by pro rata allocation (even if the Underwriters were treated as one entity for such officer purpose) or director for by any other method of allocation that does not take account of the equitable considerations referred to in paragraph (d) above. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by them such indemnified party in connection with investigating or defending any such loss, action or claim, damage, liability or action, provided, however, that . Notwithstanding the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out provisions of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and 8, no Underwriter shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering amount by which the total price of all such securities offered at which the Debt Securities underwritten by it pursuant and distributed to the public were offered to the public exceeds the amount of any damages that such registration statement; and (B) no Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.
Appears in 1 contract
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant to Section 9The Company and AHFC will, the Company will jointly and severally, indemnify and hold harmless each SellerUnderwriter and its respective directors, each officer of each Sellerofficers, each director of each Seller, each underwriter of such Registrable Securities thereunder employees and each other person, if any, who controls any such Seller or underwriter within the meaning of the Securities Act, controlling persons against any losses, claims, damages or liabilities, joint or several, to which such Underwriter may become subject, under the SellerAct, or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained or incorporated in the Registration Statement, each Prospectus, the Ratings Free Writing Prospectus, any issuer free writing prospectus or any amendment or supplement thereto, any Form ABS-15G furnished on ED▇▇▇ ▇ith respect to the transaction contemplated by this Agreement whether prepared or furnished by the Company or AHFC, or in any information contained in any underwriter free writing prospectus which information (i) is Permitted Information, (ii) is also included in the Preliminary Prospectus (other than Underwriter Information) and to which AHFC has consented in writing to be included in such underwriter free writing prospectus, or controlling person (iii) has been provided by the Company or AHFC to each Representative specifically for inclusion in any such underwriter free writing prospectus, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading and will reimburse each Underwriter for any legal or other expenses reasonably incurred by such Underwriter in connection with investigating or defending any such loss, claim, damage, liability or action as such expenses are incurred; provided, however, that neither the Company nor AHFC will be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement in or omission or alleged omission from any of such documents in reliance upon and in conformity with the Underwriter Information (as defined in subsection (b) below).
(b) Each Underwriter will severally and not jointly indemnify and hold harmless the Company and AHFC against any losses, claims, damages or liabilities to which the Company or AHFC may become subject subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained or incorporated in any registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9Registration Statement, any preliminary prospectus or final prospectus contained thereineach Prospectus, or any amendment or supplement thereofthereto, or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information furnished to the Company by such Underwriter through the Representatives specifically for use therein, and will reimburse the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them the Company or AHFC in connection with investigating or defending any such loss, claim, damage, liability or action; providedaction as such expenses are incurred, however, it being understood and agreed that the Company will not be liable in any only such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such SellerUnderwriter consists of the following information furnished on behalf of each Underwriter: in the Final Prospectus appearing under the caption “Underwriting”, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In concession and reallowance figures, information regarding the event of a registration of any intention of the Registrable Securities under Underwriters to make a market in the Act pursuant to Section 9, the Seller will indemnify and hold harmless the CompanyUnderwritten Notes, and each personinformation regarding notice by the Underwriters that certain persons may engage in transactions, if anyincluding stabilizing bids, who controls syndicate covering transactions or the Company within imposition of penalty bids, which may have the meaning effect of stabilizing or maintaining the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering market price of the Registrable Securities sold by Underwritten Notes (collectively, the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement“Underwriter Information”).
(c) Promptly after receipt by an indemnified party hereunder under this Section of notice of the commencement of any action, such indemnified party shallwill, if a claim in respect thereof is to be made against the indemnifying party hereunderunder subsection (a) or (b) above, notify the indemnifying party in writing of the commencement thereof, but the omission so to notify the indemnifying party shall will not relieve it from any liability which it may have to such any indemnified party other otherwise than under this Section 9.6(csubsection (a) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(cor (b) if and to the extent the indemnifying party is prejudiced by such omissionabove. In case any such action shall be is brought against any indemnified party and it shall notify notifies the indemnifying party of the commencement thereof, the indemnifying party shall will be entitled to participate in therein and, to the extent that it shall may wish, jointly with any other indemnifying party similarly notified, to assume and undertake the defense thereof thereof, with counsel satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, andbe counsel to the indemnifying party), and after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereofthereof and after acceptance by the indemnified party of such counsel, the indemnifying party shall will not be liable to such indemnified party under this Section 9.6(c) for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, investigation; provided, however, that, if an indemnified party shall have the defendants right to employ its own counsel in any such action include both action, but the fees, expenses and other charges of such counsel for the indemnified party will be at the expense of such indemnified party unless a conflict or potential conflict exists (based upon advice of counsel to the indemnified party) between the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it (in which are different from or additional to those available to case the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall will not have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in direct the defense of such actionaction on behalf of the indemnified party). No indemnifying party shall, with without the reasonable expenses and fees prior written consent of the indemnified party, effect any settlement of any pending or threatened action in respect of which any indemnified party is or could have been a party if indemnity could have been sought hereunder by such indemnified party unless such settlement includes (i) an unconditional release of such separate counsel indemnified party from all liability on any claims that are the subject matter of such action and other expenses related (ii) does not include a statement as to such participation or an admission of fault, culpability or a failure to be reimbursed act by or on behalf of the indemnifying party as incurredindemnified party.
(d) In order to provide If the indemnification provided for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined unavailable or insufficient to hold harmless an indemnified party under subsection (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeala) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (iib) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; thenabove, and in then each such case, the Company and the Seller will indemnifying party shall contribute to the aggregate amount paid or payable by such indemnified party as a result of the losses, claims, damages or liabilities referred to which they may be subject in subsection (after contribution from othersa) or (b) above (i) in such proportion so that as is appropriate to reflect the Seller is responsible only for the portion represented relative benefits received by the percentage that Company on the public one hand and the Underwriters on the other from the offering price of its securities offered the Underwritten Notes or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company on the one hand and the Underwriters on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities as well as any other relevant equitable considerations. The relative benefits received by the registration statement bears Company on the one hand and the Underwriters on the other shall be deemed to be in the same proportion as the total net proceeds from the offering (before deducting expenses) received by the Company bear to the public offering price total underwriting discounts and commissions received by the Underwriters. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of all securities offered a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or the Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The amount paid by an indemnified party as a result of the losses, claims, damages or liabilities referred to in the first sentence of this subsection (d) shall be deemed to include any legal or other expenses reasonably incurred by such registration statementindemnified party in connection with investigating or defending any action or claim which is the subject of this subsection (d). Notwithstanding the provisions of this subsection (d), provided, however, that, in any such case, (A) the Seller will not no Underwriter shall be required to contribute any amount in excess of the public offering amount by which the total price of all such securities offered at which the Underwritten Notes underwritten by it pursuant and distributed to the public were offered to the public exceeds the amount of any damages which such registration statement; and (B) no Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. The Underwriters’ obligations in this subsection (d) to contribute are several in proportion to their respective underwriting obligations and not joint.
(e) The obligations of the Company or AHFC under this Section shall be in addition to any liability which the Company or AHFC may otherwise have and shall extend, upon the same terms and conditions, to each person, if any, who controls any Underwriter within the meaning of the Act; and the obligations of the Underwriters under this Section shall be in addition to any liability which the respective Underwriters may otherwise have and shall extend, upon the same terms and conditions, to each director of the Company or AHFC, to each officer of the Company and AHFC who has signed the Registration Statement and to each person, if any, who controls the Company or AHFC within the meaning of the Act.
Appears in 1 contract
Sources: Underwriting Agreement (Honda Auto Receivables 2024-1 Owner Trust)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 4, 5 or 6, the Company will and hereby does indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, howeverPROVIDED, HOWEVER, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9Sections 4, the Seller 5 or 6, each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each other seller of Restricted Stock, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, other seller, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, other seller, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, providedPROVIDED, howeverHOWEVER, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, PROVIDED FURTHER that the liability of each seller hereunder shall not apply to amounts paid in settlement without such seller's prior written consent. Not in limitation of the Seller foregoing, it is hereby understood and agreed that the indemnification obligations of any seller hereunder pursuant to any underwriting agreement entered into in connection herewith shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not obligations contained in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementthis Section 11(b).
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 11 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 11 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 11 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, howeverPROVIDED HOWEVER, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 11 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 11 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.this
Appears in 1 contract
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 4 or 5 hereof, the Company GTS will indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each seller and underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any and all losses, claims, damages or liabilities, joint or several, to which the Seller, such seller or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon result from any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4 or 5 hereof, any preliminary prospectus subject to completion or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability liability, or action; provided, however, that the Company GTS will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9Sections 4 or 5 hereof, the Seller each seller of such Restricted Stock thereunder will indemnify and hold harmless the Company, GTS and each person, if any, who controls the Company GTS within the meaning of the Securities Act, each officer of the Company GTS who signs the registration statement and statement, each director of the Company, against GTS and each underwriter and any controlling person thereof from any and all losses, claims, damages or liabilities, joint or several, to which the Company GTS or such officer or director or underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon result from any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4 or 5 hereof, any preliminary prospectus subject to completion or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company GTS and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, ; and provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company GTS by such Seller seller specifically for use in such registration statement or prospectus, and ; provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Restricted Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement commence ment of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such any indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and except to the extent the indemnifying party is prejudiced by such omission. In case of any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice damages resulting from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.such
Appears in 1 contract
Sources: Registration Rights Agreement (Global Telecommunication Solutions Inc)
Indemnification and Contribution. (a) In the event of a registration of any of the Registrable Securities Stock under the Securities Act pursuant to Section 9Sections 2 or 3, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each SellerRegistrable Stock thereunder, each underwriter of such Registrable Securities Stock thereunder and each other person, if any, who controls any or is alleged to control such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was Stock were registered under the Securities Act pursuant to Section 9Sections 2 or 3, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus, in the light of the circumstances under which they were made) not misleading, or arises out of or are based upon any violation or alleged violation of any federal, state or other law, rule or regulation relating to any action or inaction in connection therewith, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in to any such case indemnitee if and to the extent that any such loss, claim, damage or liability arises solely out of or is based solely upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information with respect to such indemnitee furnished by any such Seller, the underwriter or any such controlling person indemnitee in writing specifically for use in such registration statement or prospectus. The indemnities of the Company contained in this Section 6 shall remain in full force and effect regardless of any investigation made by or on behalf of such indemnified person and shall survive any transfer of Registrable Stock.
(b) In the event of a registration of any of the Registrable Securities Stock under the Securities Act pursuant to Section 9Sections 2 or 3, the Seller each seller of such Registrable Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Stock was registered under the Securities Act pursuant to Section 9Sections 2 or 3, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus, in the light of the circumstances under which they were made) not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises solely out of or is based solely upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Stock covered by such registration statementstatement (after deduction of all underwriters’ discounts and commissions and all other expenses paid by such seller in connection with the registration in question). Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the Company or any such director, officer, underwriter or controlling person and shall survive any transfer of Registrable Stock.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 6 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 6 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 6 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred. No indemnifying party, in the defense of any such claim or litigation, shall, except with the consent of each indemnified party, consent to entry of any judgment or enter into any settlement unless such judgment or settlement includes as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation, includes only money damages (as opposed to equitable relief) and does not include any statement as to the fault or culpability of such indemnified party.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Registrable Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.66; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the aggregate public offering price of its securities Registrable Stock offered by the registration statement bears to the aggregate public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price net proceeds received by it from the sale of all such securities Restricted Stock offered by it pursuant to such registration statementstatement (after deduction of all underwriters’ discounts and commissions and all other damages and expenses paid by such seller in connection with the registration in question); and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 1 contract
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 4, 5 or 6, the Company Corporation will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse each such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Corporation will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such seller, any such underwriter or any such controlling person.
(b) In the event of a registration of any of the Restricted Stock under the Securities Act pursuant to Sections 4, 5 or 6, each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Corporation, each person, if any, who controls the Corporation within the meaning of the Securities Act, each officer of the Corporation who signs the registration statement, each director of the Corporation, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Corporation or such officer, director, underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Restricted Stock was registered under the Securities Act pursuant to Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter Corporation and each such officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company Corporation by such Seller specifically for use in such registration statement or prospectusseller, and provided, further, however, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Restricted Stock covered by such registration statement. Notwithstanding anything else in this Section 9 to the contrary, the liability of each seller hereunder shall not be limited to the proceeds received by such seller from the sale of such seller’s Restricted Stock if it shall be judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time for the appeal or the denial of the last right of appeal) that such seller did knowingly and willfully make an untrue statement or omit to make any true statement (in the case of the Regents of the University of Michigan, the statement as corrected must be required to be made by law, and the untrue or omitted statement must be made or omitted with the actual knowledge of one of its executive officers, including knowledge as to its materiality) or otherwise committed fraud with respect to a material fact in any registration statement, preliminary prospectus or final prospectus contained therein under which such seller’s Restricted Stock shall have been registered.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 9 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.69; then, and in each such case, the Company Corporation and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Restricted Stock offered by the registration statement bears to the public offering price of all securities offered by such registration statement, and the Corporation is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Restricted Stock offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 1 contract
Indemnification and Contribution. (a) In the event of a the registration of any the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Company will indemnify and hold harmless each Sellerthe Investor, each officer underwriter, if any, of each SellerRegistrable Shares, each director of each Seller, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller the Investor or underwriter within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the SellerInvestor, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such SellerAct, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Exchange Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages state securities or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement Registration Statement under which such Registrable Securities Shares were registered under the Securities Act pursuant to Section 9Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto such Registration Statement, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, ; and the Company will reimburse the Company Investor, such underwriter and each such officer or director controlling person for any legal or any other expenses reasonably incurred by them the Investor, such underwriter or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action, ; provided, however, that the Seller Company will not be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an any untrue statement or omission made in such Registration Statement, preliminary prospectus or prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by or on behalf of the Investor or such underwriter or controlling person specifically for use in the preparation thereof.
(b) In the event of the registration of any of the Registrable Shares under the Securities Act pursuant to this Agreement, the Investor will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each person, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, against any losses, claims, damages or liabilities, joint or several, to which the Company, such directors and officers, underwriter or controlling person may become subject under the Securities Act, Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement under which such Registrable Shares were registered under the Securities Act, any preliminary prospectus or final prospectus contained in the Registration Statement, or any amendment or supplement to the Registration Statement, or arise out of or are based upon any omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading, if the statement or omission was made in reliance upon and in conformity with information pertaining relating to such Seller, as such, the Investor furnished in writing to the Company by such Seller specifically or on behalf of the Investor for use in such registration statement or connection with the preparation of the Registration Statement, prospectus, amendment or supplement; provided, however, -------- ------- that the obligations of the Investor hereunder shall be limited to an amount equal to the net proceeds to the Investor of Registrable Shares sold in connection with the registration.
(c) Each party entitled to indemnification under this Section (the "Indemnified Party") shall give notice to the party required to provide indemnification (the "Indemnifying Party") promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any litigation resulting therefrom; provided, that counsel for the Indemnifying Party, who shall conduct the defense of such claim or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld); and, provided, further, that the failure of any Indemnified Party to -------- ------- give notice as provided herein shall not relieve the Indemnifying Party of its obligations under this Section except to the extent that the Indemnifying Party is adversely affected by such failure. The Indemnified Party may participate in such defense at such party's expense; provided, however, that the liability Indemnifying -------- ------- Party shall pay such expense if representation of such Indemnified Party by the Seller hereunder counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests between the Indemnified Party and any other party represented by such counsel in such proceeding; provided, further, -------- ------- that in no event shall the Indemnifying Party be required to pay the expenses of more than one law firm as counsel for the Indemnified Party. The Indemnifying Party also shall be limited to responsible for the proportion expenses of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and Indemnifying Party does not elect to assume such legal defenses and otherwise to participate defense. No Indemnifying Party, in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such separate counsel claim or litigation, and other expenses related no Indemnified Party shall consent to entry of any judgment or settle such participation to claim or litigation without the prior written consent of the Indemnifying Party, which consent shall not be reimbursed by the indemnifying party as incurredunreasonably withheld.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case circumstances in which either (i) the Seller, or any controlling person of the Seller, makes a claim indemnification provided for indemnification pursuant to in this Section 9.6 2.5 is due in accordance with its terms but it for any reason is judicially determined (by held to be unavailable to an Indemnified Party in respect to any losses, claims, damages and liabilities referred to herein, then the entry Indemnifying Party shall, in lieu of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that indemnifying such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such caseIndemnified Party, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate amount paid or payable by such Indemnified Party as a result of such losses, claims, damages or liabilities to which they such party may be subject (after contribution from others) in such proportion so that as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented Company on the one hand and the Investor on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Investor shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of material fact related to information supplied by the percentage Company or the Investor and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Investor agree that it would not be just and equitable if contribution pursuant to this Section 2.5 were determined by pro rata allocation or by any other method of allocation which does not take account of the public offering price equitable considerations referred to above. Notwithstanding the provisions of its securities offered by the registration statement bears to the public offering price this paragraph of all securities offered by such registration statement, provided, however, that, in any such caseSection 2.5, (Aa) in no case shall the Seller will not Investor be required to contribute liable or responsible for any amount in excess of the public net proceeds received by the Investor from the offering price of all such securities offered by it pursuant to such registration statement; Registrable Shares and (Bb) the Company shall be liable and responsible for any amount in excess of such proceeds; provided, -------- however, that no person or entity guilty of fraudulent misrepresentation (within the ------- meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. Any party entitled to contribution will, promptly after receipt of notice of commencement of any action, suit or proceeding against such party in respect of which a claim for contribution may be made against another party or parties under this Section, notify such party or parties from whom contribution may be sought, but the omission so to notify such party or parties from whom contribution may be sought shall not relieve such party from any other obligation it or they may have thereunder or otherwise under this Section. No party shall be liable for contribution with respect to any action, suit, proceeding or claim settled without its prior written consent, which consent shall not be unreasonably withheld.
Appears in 1 contract
Sources: Investor Rights Agreement (Bottomline Technologies Inc /De/)
Indemnification and Contribution. (a) In the event of a any registration of any Registrable Securities of the Shares under the Securities Act pursuant to Section 9this Agreement, the Company CURIS will indemnify and hold harmless each SellerRecipient, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller or underwriter Recipient within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch Recipient, or such underwriter or controlling person may become subject under the Securities Act Act, the Exchange Act, state securities laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was Shares were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto such Registration Statement, or arise out of or are based upon (ii) the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by CURIS of the Securities Act, the Exchange Act, any state securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law in connection with the Registration Statement or the offering contemplated thereby; and CURIS will reimburse the Sellersuch Recipient, each such underwriter and each such controlling person for any legal or any other expenses reasonably incurred by them such Recipient, or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company CURIS will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged any untrue statement or omission or alleged omission so made in conformity with information furnished by any such SellerRegistration Statement, the underwriter preliminary prospectus or prospectus, or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereofsupplement, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining furnished to CURIS, in writing, by or on behalf of such SellerRecipient, as such, furnished in writing to the Company by such Seller or controlling person specifically for use in the preparation thereof.
(b) Each Indemnified Party shall give notice to the Indemnifying Party promptly after such registration statement or prospectusIndemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any litigation resulting therefrom; provided, that counsel for the Indemnifying Party, who shall conduct the defense of such claim or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld, conditioned or delayed); and, provided, further, that the failure of any Indemnified Party to give notice as provided herein shall not relieve the Indemnifying Party of its obligations under this Section 4.6 except to the extent that the Indemnifying Party is adversely affected by such failure. The Indemnified Party may participate in such defense at such party’s expense; provided, however, that the liability Indemnifying Party shall pay such expense if the Indemnified Party reasonably concludes that representation of such Indemnified Party by the Seller hereunder counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests between the Indemnified Party and any other party represented by such counsel in such proceeding; provided further that in no event shall the Indemnifying Party be required to pay the expenses of more than one law firm per jurisdiction as counsel for the Indemnified Party. The Indemnifying Party also shall be limited responsible for the expenses of such defense if the Indemnifying Party does not elect to assume such defense. No Indemnifying Party, in the proportion defense of any such lossclaim or litigation shall, claimexcept with the consent of each Indemnified Party, damageconsent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such claim or litigation, liability and no Indemnified Party shall consent to entry of any judgment or expense which is equal to settle such claim or litigation without the proportion that the public offering price prior written consent of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunderIndemnifying Party, but which consent shall not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementbe unreasonably withheld, conditioned or delayed.
(c) Promptly after receipt by an indemnified party hereunder The rights and obligations of notice of CURIS and the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than Recipients under this Section 9.6(c) and 4.6 shall only relieve it from any liability which it may have to such indemnified party under survive the termination of this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurredAgreement.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 1 contract
Indemnification and Contribution. (a) In the event of a registration of any Registrable of the Transfer Restricted Securities under the Securities Act pursuant to Section 91, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Transfer Restricted Securities thereunder, each underwriter of such Registrable Transfer Restricted Securities thereunder and each other person, if any, who controls any such Seller selling Holder or underwriter within the meaning of the Securities Act, and the Depositary against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch selling Holder, or such underwriter or controlling person or the Depositary may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Transfer Restricted Securities was were registered under the Securities Act pursuant to Section 91, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such selling Holder, each such underwriter and each such controlling person and the Depositary for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished in writing by any such Sellerselling Holder, the such underwriter or any such controlling person in writing and the Depositary specifically for use in such registration statement or prospectus; and provided further, however, that the Company will not be liable to such selling Holder, such underwriter or such controlling person and the Depositary, as the case may be, with respect to any preliminary prospectus to the extent that the Company shall sustain the burden of providing that any such loss, claim, damage, liability or action resulted from the fact that such selling Holder, such underwriter or such controlling person and the Depositary, as the case may be, failed to send or deliver a copy of the prospectus (in the form it was first provided to such parties for confirmation of sales) if: (1) the Company has previously furnished copies to such selling Holder, such underwriter or such controlling person and the Depositary, as the case may be, in accordance with this Agreement, at or prior to the written confirmation of the sale of such Securities to such person and the loss, claim, damage, liability or action of such selling Holder, such underwriter or such controlling person and the Depositary, as the case may be, resulted from an untrue statement or omission of a material fact contained in or omitted from the preliminary prospectus that was corrected in the final prospectus and (2) such failure to give or send such final prospectus prior to the written confirmation of such sale to the party or parties asserting such loss, claim, damage, liability or action would have constituted the sole defense of the claim asserted by such person.
(b) In the event of a registration of any of the Registrable Transfer Restricted Securities under the Securities Act pursuant to Section 91, the Seller each selling Holder of such Transfer Restricted Securities thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such lossesloses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Transfer Restricted Securities were registered under the Securities Act pursuant to Section 91, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, ; provided, however, that the Seller such selling Holder will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement of a material fact or omission or alleged omission of a material fact made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, ; and provided, provided further, however, that the liability of the Seller each selling Holder hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such selling Holder under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such selling Holder from the sale of Registrable Transfer Restricted Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 4 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 4 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 4 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, ; provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other reasonable expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) any indemnified party exercising rights under the SellerAgreement, or any controlling person of the Sellerany selling Holder, makes a claim for indemnification pursuant to this Section 9.6 4 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 4 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling Holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.64, or (iii) the indemnification provided for by this Section 4 is insufficient to hold harmless an indemnified party, other than by reason of the exceptions provided therein; then, and in each such case, the Company and the Seller such selling Holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) (x) in such proportion so that as is appropriate to reflect the Seller relative fault of the indemnifying party on the one hand and the indemnified party on the other or (y) if the allocation provided by clause (x) above is responsible not permitted by applicable law, or provides a lesser sum to the indemnified party than the amount hereinafter calculated, in such proportion as is appropriate to reflect not only for the relative fault referred to in clause (x) above but also the relative benefits received by the indemnifying party and the indemnified party from the offering of the securities (taking into account the portion represented of the proceeds of the offering received by each such party) as well as the percentage that the public offering price statements or omissions which resulted in such losses, claims, damages or liabilities and any other relevant equitable considerations. No selling Holder of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller Transfer Restricted Securities will not be required to contribute any amount in excess of the public offering price proceeds received by such selling Holder in respect of all such securities Transfer Restricted Securities offered and sold by it pursuant to such registration statement; statement and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. The relative fault of the Company on the one hand and the Holder of Transfer Restricted Securities on the other hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or by the Holder of Transfer Restricted Securities, and the parties" relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.
Appears in 1 contract
Sources: Registration Rights Agreement (Crown Castle International Corp)
Indemnification and Contribution. (a) In the event of a registration of any of the Registrable Securities under the Securities Act pursuant to Section 9Act, the Company will indemnify and hold harmless each Sellerholder of Registrable Securities included in such registration and each of its directors, each officer of each Sellerofficers, each director of each Sellerstockholders, partners and members, each underwriter of such Registrable Securities thereunder and each of its directors and officers, and each other personperson and each of its directors and officers, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act or the Securities Exchange Act of 1934, as amended from time to time (the "Exchange Act"), or otherwise, against any losses, claims, damages or liabilitiesliabilities (or actions in respect thereof), joint or several, to which such seller, underwriter or controlling person (or their respective directors and officers) may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such losses, claims, damages or liabilities (and each of its directors and officers or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities were registered under the Securities Act, any preliminary prospectus or final prospectus contained in the registration statement, or any amendment or supplement to such registration statement, or arise out of or are based upon the omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading; and the Company will reimburse such seller, underwriter and each such controlling person (and their respective directors and officers) for any legal or any other expenses reasonably incurred by such seller, underwriter or controlling person (and their respective directors and officers) in connection with investigating or defending any such loss, claim, damage, liability or action; provided that the Company will not have any liability (and shall not be required to provide such indemnity and hold harmless obligation) to the extent that any such loss, claim, damage or liability arises out of or is based upon any untrue statement or omission made in such registration statement, preliminary prospectus or prospectus, or any such amendment or supplement, in reliance upon and in conformity with written information furnished to the Company through an instrument duly executed by or on behalf of such holder of Registrable Securities or underwriter specifically for use in preparation thereof.
(b) In the event of any registration of any of the Registrable Securities under the Securities Act, each holder of Registrable Securities included in such registration, severally and not jointly, will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each of its directors and officers and each person and each of its directors and officers, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, against losses, claims, damages or liabilities (or actions in respect thereof), joint or several, to which the SellerCompany, or such directors and officers, underwriter or controlling person (or their respective directors and officers) may become subject under the Securities Act, Exchange Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in any registration statement under which such Registrable Securities was were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the registration statement, or any amendment or supplement thereofto the registration statement, or arise out of or are based upon the any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse if the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by or on behalf of such Seller holder, specifically for use in connection with the preparation of such registration statement statement, prospectus, amendment or prospectussupplement; provided the liability of each holder of Registrable Securities pursuant to this Section 8.5(b) shall be limited to the proceeds actually received by such holder from the disposition of the Registrable Securities disposed of by such holder pursuant to such registration.
(c) Each party entitled to indemnification under this Section 8.5 (the "Indemnified Party") shall give notice to the party required to provide indemnification (the "Indemnifying Party") promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any litigation resulting therefrom, provided that counsel for the Indemnifying Party, who shall conduct the defense of such claim or litigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld, delayed or conditioned), and the Indemnified Party may participate in such defense at such party's expense, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion failure of any such loss, claim, damage, liability or expense which is equal Indemnified Party to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of give notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party as provided herein shall not relieve it from any liability which it may have to such indemnified party other than the Indemnifying Party of its obligations under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if 8.5 (except and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party rights of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after Indemnifying Party are materially prejudiced thereby). After notice from the indemnifying party Indemnifying Party to such indemnified party the Indemnified Party of its election so to assume and undertake the defense thereofof such claim or litigation, the indemnifying party shall Indemnifying Party will not be liable to such indemnified party under this Section 9.6(c) Indemnified Party for any legal or other expenses subsequently incurred by such indemnified party Indemnified Party in connection with the defense thereof other than reasonable costs of investigation so long as and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if extent the interests of Indemnifying Party continues to defend the indemnified party reasonably may be deemed to conflict with Indemnified Party, unless the interests of the indemnifying partyIndemnifying Party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of such separate counsel and other expenses related each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such participation Indemnified Party of a release from all liability in respect to be reimbursed by the indemnifying party as incurredsuch claim or litigation.
(d) In order To the extent the Company after the date hereof shall agree to provide for just and equitable contribution in any written agreement entered into with the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person stockholders of the SellerCompany if the indemnification obligations are otherwise unavailable, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, then the Company and the Seller will contribute shall provide such similar rights to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) Warrantholders in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentationtheir shares.
Appears in 1 contract
Sources: Warrant Agreement (Gexa Corp)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 3, 4 or 5, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 3, 4 or 5, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in -------- ------- any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9Sections 3, the Seller 4 or 5, each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 3, 4 or 5, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if -------- ------- and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller each seller hereunder shall be -------- ------- ------- limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities shares sold by the Seller such seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Restricted Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 8 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 8 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 8 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, -------- however, that, if the defendants in any such action include both the indemnified ------- party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 8 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 8 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.68; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Restricted Stock offered by the registration statement bears to the public offering price of all securities offered by such registration statement, and the Company is responsible for the remaining portion; provided, however, that, in any such case, (A) the Seller no such holder will not be -------- ------- required to contribute any amount in excess of the public offering price of all such securities Restricted Stock offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 1 contract
Sources: Registration Rights Agreement (Medichem Life Sciences Inc)
Indemnification and Contribution. (a) In connection with the event of a registration of any Registrable Securities the Restricted Stock under the Securities Act pursuant to Section 92 hereof, the Company Delano will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Seller, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller or underwriter the Holder within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Seller, seller or such underwriter or controlling person may become subject under the Securities Act Act, Exchange Act, state securities laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (a) any untrue statement or alleged untrue statement of any material fact contained in any the registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 92 hereof at the time it became effective under the Securities Act, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereto, (b) the omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances under which they were made or (c) any violation by Delano or its agents of any rule or regulation promulgated under the Securities Act, Exchange Act or state securities laws applicable to Delano or its agents and relating to action or inaction required of Delano in connection with such registration, and Delano will reimburse each such seller and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that Delano will not be liable in any such case if any to the extent that (A) any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement, an omission or alleged omission or a violation or alleged violation so made in conformity with information furnished in writing by any such seller or any such controlling person for inclusion in the registration statement under which such Restricted Stock was registered under the Securities Act pursuant to Section 2 hereof or any prospectus contained therein, or any amendment or supplement to the Registration Statement or prospectus, or (B) if such untrue statement or alleged untrue statement, omission or alleged omission or violation or alleged violation was corrected in an amended or supplemented prospectus, and such seller failed to deliver a copy of the amended or supplemented prospectus at or prior to the confirmation of the sale of the Restricted Stock to the person or entity asserting any such loss, claim, damage or liability in any case where such delivery is required by the Securities Act or any state securities laws.
(b) In connection with the registration of the Restricted Stock under the Securities Act pursuant to Section 2 hereof, each seller of such Restricted Stock will indemnify and hold harmless Delano, each person, if any, who controls Delano within the meaning of the Securities Act, each officer of Delano who signs the registration statement, and each director of Delano, against all losses, claims, damages or liabilities, joint or several, to which Delano or such officer, director, underwriter or controlling person may become subject under the Securities Act, or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) the failure of such seller to comply with the provisions of Section 8 herein, or (ii) any untrue statement or alleged untrue statement of any material fact contained in the registration statement, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter Delano and each such officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, seller furnished by such seller in writing for inclusion in the registration statement under which such Restricted Stock was registered under the Securities Act pursuant to Section 2 hereof or any prospectus contained therein, or any amendment or supplement to the Company by such Seller specifically for use in such registration statement Registration Statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 5 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 5 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereofdefense, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 5 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification is made pursuant to this Section 9.6 5 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 5 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part Delano and each seller of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller Restricted Stock will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price relative fault of all securities offered by such registration statementDelano, on the one hand, and each holder, severally, on the other hand; provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentationfraudulent.
Appears in 1 contract
Sources: Registration Rights Agreement (Delano Technology Corp)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities of the Restricted Stock under the Securities Act pursuant to Section 9Sections 4, 5 or 6, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Restricted Stock thereunder, each underwriter of such Registrable Securities Restricted Stock thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, howeverPROVIDED, HOWEVER, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Restricted Stock under the Securities Act pursuant to Section 9Sections 4, the Seller 5 or 6, each seller of such Restricted Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were Restricted Stock was registered under the Securities Act pursuant to Section 9Sections 4, 5 or 6, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, providedPROVIDED, howeverHOWEVER, that the Seller such seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by such Seller seller specifically for use in such registration statement or prospectus, and providedPROVIDED, furtherFURTHER, howeverHOWEVER, that the liability of the Seller each seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller such seller from the sale of Registrable Securities Restricted Stock covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) 9 if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, providedPROVIDED, howeverHOWEVER, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i) the Sellerany holder of Restricted Stock exercising rights under this Agreement, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 9 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 9 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.69; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller such holder is responsible only for the portion represented by the percentage that the public offering price of its securities Restricted Stock offered by the registration statement bears to the public offering price of all securities offered by such registration statement, providedand the Company is responsible for the remaining portion; PROVIDED, howeverHOWEVER, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Restricted Stock offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 1 contract
Indemnification and Contribution. In the event any Registrable Securities are included in the Registration Statement:
(a) In to the event of a registration of any Registrable Securities under the Securities Act pursuant to Section 9extent permitted by law, the Company (1) Terremark will indemnify and hold harmless each SellerHolder, each officer of each Seller, each director of each Seller, each any underwriter of (as defined in the Securities Act) for such Registrable Securities thereunder Holder and each other personPerson, if any, who controls any such Seller Holder or such underwriter within the meaning of the Securities Act or the Exchange Act, against any losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such lossesexpenses, claims, damages or liabilities (collectively "LOSSES"), to which they may become subject under the Securities Act, the Exchange Act or actions in respect thereof) other federal or state law, insofar as such Losses arise out of or are based upon any of the following statements, omissions or violations (collectively, a "VIOLATION"): (i) any untrue statement or alleged untrue statement of any a material fact contained in any registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9Registration Statement, including any preliminary prospectus or final prospectus contained therein, therein or any amendment amendments or supplement thereofsupplements thereto, or arise out of or are based upon (ii) the omission or alleged omission to state therein a material fact required to be stated therein therein, or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by Terremark of the Securities Act, the Exchange Act, any state securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law; and (2) Terremark will reimburse the Seller, pay as incurred to such Holder and each such underwriter and each such controlling person for Person, any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or actionLoss; provided, however, that the Company indemnity agreement contained in this Section 5.3 will not apply to amounts paid in settlement of any such Loss if such settlement is effected without the consent of Terremark (which consent will not be unreasonably withheld or delayed) nor will Terremark be liable in any such case if and for any such Loss to the extent that any such loss, claim, damage or liability it arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made a Violation which occurs in conformity with reliance upon written information furnished expressly for use in connection with such registration by any such Seller, the underwriter Holder or any such underwriter or controlling person in writing specifically for use in such registration statement or prospectusPerson.
(b) In To the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9extent permitted by law, the Seller each selling Holder will indemnify and hold harmless the CompanyTerremark, each of its directors, and each personof its officers who has signed the Registration Statement, each Person, if any, who controls the Company Terremark within the meaning of the Securities Act, each officer any underwriter and any controlling person of any such underwriter, against any Loss to which any of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director foregoing Persons may become subject subject, under the Securities Act, the Exchange Act or otherwiseother federal or state Law, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability Loss arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made any Violations, in each case to the extent (and only to the extent) that such Violation occurs in reliance upon and in conformity with written information pertaining to such Seller, as such, furnished in writing to by the Company by such Seller specifically Holder expressly for use in such registration statement or prospectus, and connection with the Registration Statement; provided, further, however, that the liability of the Seller hereunder shall be limited indemnity agreement contained in this Section 5.3 will not apply to the proportion amounts paid in settlement of any such loss, claim, damage, liability or expense which Loss if such settlement is equal to effected without the proportion that the public offering price consent of the Registrable Securities sold by the Seller Holder (which consent will not be unreasonably withheld or delayed); and further provided, that in no event will any indemnity under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to this Section 5.3 exceed the net proceeds from the offering received by the Seller from the sale such Holder (net of Registrable Securities covered by such registration statementunderwriting discounts and commissions).
(c) Promptly after receipt by an indemnified party hereunder under this Section 5.3 of notice of the commencement of any actionaction (including any action by any Governmental Authority), such indemnified party shallwill, if a claim in respect thereof is to be made against any indemnifying party under this Section 5.3, deliver to the indemnifying party hereunder, notify a written notice of the commencement thereof and the indemnifying party will have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the indemnified party or parties; provided, however, that an indemnified party will have the right to retain its own counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would, in writing thereofthe written opinion of counsel to the indemnified party, be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action, if materially prejudicial to its ability to defend such action, will relieve such indemnifying party of any liability to the indemnified party under this Section 5.3, but the omission so to notify deliver written notice to the indemnifying party shall will not relieve it from of any liability which that it may have to such any indemnified party other otherwise than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred5.3.
(d) In order to provide for just The obligations of Terremark and equitable contribution in the event Holders under this Section 5.3 will survive the completion of joint liability under the Act in any case in which either (i) the Seller, or any controlling person offering of the Seller, makes a claim for indemnification Registrable Securities pursuant to the Registration Statement.
(e) If the indemnification provided for in this Section 9.6 but it 5.3 is judicially determined (by the entry of a final judgment or decree held by a court of competent jurisdiction and to be unavailable to an indemnified party with respect to any Loss, then the expiration indemnifying party, in lieu of time to appeal or the denial of the last right of appeal) that indemnifying such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such caseindemnified party hereunder, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages amount paid or liabilities to which they may be subject (after contribution from others) payable by such indemnified party as a result of such Loss or liability in such proportion so as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection with the statements or omissions that resulted in such Loss as well as any other relative equitable considerations. The relative fault of the Seller is responsible only for indemnifying party and of the portion represented indemnified party will be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the percentage that the public offering price of its securities offered indemnifying party or by the registration indemnified party and the parties' relative intent, knowledge, access to information, and opportunity to correct or prevent such statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentationomission.
Appears in 1 contract
Sources: Debt Conversion Agreement (Terremark Worldwide Inc)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities Shares under the Securities Act pursuant to Section 94, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each Sellersuch Registrable Shares thereunder, each underwriter of such Registrable Securities Shares thereunder and each other person, if any, who controls any such Seller seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities Shares was registered under the Securities Act pursuant to Section 94, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; , provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerseller, the any such underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 94, the Seller each seller of such Registrable Shares thereunder, severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.the
Appears in 1 contract
Indemnification and Contribution. (a) In the event case of a each registration of any Registrable Securities under the Securities Act effected by SafeGuard pursuant to Section 9this Agreement in which any Holder's Common Shares is included, the Company will SafeGuard agrees to indemnify and hold harmless each Sellersuch Holder, each officer of each Seller, each director of each Sellerincluding its Officers and partners, each underwriter of such Registrable Securities thereunder the shares of Common Shares so registered and each other person, if any, person who controls any such Seller or underwriter within the meaning of Section 15 of the Securities Act, against any and all losses, claims, damages or liabilities, joint or several, liabilities to which the Seller, they or such underwriter or controlling person any of them may become subject under the Securities Act or otherwiseany other statute or common law, including any amount paid in settlement of any litigation, commenced or threatened, and to reimburse them for any reasonable legal or other reasonable expenses incurred by them in connection with the investigation of any claims and defenses of any actions (subject to subsection (c) of this Section 2.7 , insofar as any such losses, claims, damages or damages, ------------ liabilities (or actions in respect thereof) arise out of or are based upon upon: any untrue statement or alleged untrue statement of any a material fact contained in any the registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9statement, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereofthereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, notwithstanding the foregoing, SafeGuard may agree to -------- ------- indemnify each such underwriter and person who so controls such underwriter to such other extent as SafeGuard and such underwriter will agree; and provided further, however, that the Company indemnification agreement -------- ------- ------- contained in this subsection (a) will not be liable in (1) apply to such losses, claims, damages, liabilities or actions arising out of, or based upon, any such case untrue statement or alleged untrue statement, or any such omission or alleged omission, if such statement or omission was made in reliance upon and in conformity with information furnished to SafeGuard in writing by a Holder or such underwriter claiming rights of indemnification pursuant to this Section 2.7 for use in connection the preparation of the registration ----------- statement or any preliminary prospectus or final prospectus contained in the registration statement or any such amendment thereof or supplement thereto; (2) inure to the benefit of any underwriter (or to the benefit of any person controlling such underwriter) from whom the person asserting any such losses, claims, damages, expenses or liabilities purchased the securities which are the subject thereof, if such underwriter failed to send or give a copy of the final prospectus, as then amended or supplemented, to such person and if the untrue statement or omission alleged had been corrected in such final prospectus; or (3) inure to the benefit of any person to the extent that any such loss, claim, damage or liability person's. claim for indemnification hereunder arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished on any violation by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectusof applicable law.
(b) In the event case of a each registration of effected by SafeGuard pursuant to this Agreement in which any Holder's Common Shares is included, such Holder will be obligated, and will cause each underwriter of the Registrable Securities under shares of Common Shares to be registered on behalf of such person (each Holder and such underwriters being referred to severally in this subsection (b) as the Act pursuant "INDEMNIFYING PERSON") to be obligated, in the same manner and to the same extent as set forth in subsection (a) of this Section 9, the Seller will 2.7. to ----------- indemnify and hold harmless the Company, SafeGuard and each person, if any, who controls the Company SafeGuard within the meaning of Section 15 of the Securities Act, each officer of the Company who signs the registration statement its directors, officers, partners, accountants and each director of the Companylegal counsel, against all losses, claims, damages or liabilities, joint or several, with respect to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the in, or omission or alleged omission from, such registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, or any post-effective amendment thereof or any preliminary prospectus or final prospectus (as amended or supplemented, if amended or supplemented as aforesaid) contained thereinin such registration statement, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each if such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company SafeGuard by such Seller specifically indemnifying person for use in connection with the preparation of such registration statement or any preliminary prospectus or final prospectus contained in such registration statement or prospectus, and any such amendment thereof or supplement thereto; provided, further, however, that the -------- ------- liability of the Seller each Holder hereunder shall be is limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net gross proceeds received by the Seller each Holder from the sale of Registrable Securities Common Shares covered by such registration statement, amendment, supplement or prospectus, as the case may be.
(c) Promptly Each person to be indemnified pursuant to this Section 2.7 will, ----------- promptly after its receipt by an indemnified party hereunder of written notice of the commencement of any action, action against such indemnified party shall, if a claim person in respect thereof is to of which indemnity may be made against the sought from an indemnifying party hereunderperson under this Section 2.7, notify the ----------- indemnifying party person in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the . The indemnifying party shall be entitled to participate in and, to the extent it shall wish, to person will assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified partyperson and assume the payment of all fees and expenses. In any such proceeding, and, after notice from the indemnifying party to such indemnified party may retain its own counsel, but the fees and expenses of its election so to assume and undertake the defense thereofcounsel will be at the indemnified party's expense, unless (1) the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party has employed counsel in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants an action in any such action include both which the indemnified party and indemnifying party are both defendants and there is a conflict of interest between such parties that would prevent counsel from adequately representing both parties, as determined by counsel to the indemnified person, (2) the indemnifying party and has not employed counsel satisfactory within the indemnified party shall have reasonably concluded that there may be exercise of reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests judgment of the indemnified party reasonably may be deemed to conflict with represent the interests indemnified party within a reasonable time after the notice of the commencement of the action, or (3) the indemnifying party has authorized the employment of counsel for the indemnified party at the expense of the indemnifying party. The undertaking contained in this Section 2.7 is in addition to any liabilities that the indemnifying person ----------- might have pursuant to law. No indemnifying party will, without the prior written consent of the indemnified parties shall party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have the right to select one separate counsel been a party and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed indemnity could have been sought under this Agreement by the indemnifying indemnified party, unless the settlement includes an unconditional release of the indemnified party as incurredfrom all liability arising from the proceeding.
(d) In order to provide If the indemnification provided for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it 2.7 is judicially determined (by the entry of a final judgment or decree held ----------- by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such caseunavailable to an indemnified party with respect to any loss, liability, claim, damage, or (ii) contribution under expense referred to therein, then the Securities Act may be required on the part indemnifying party, in lieu of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; thenindemnifying such indemnified party hereunder, and in each such case, the Company and the Seller will contribute to the aggregate lossesamount paid or payable by such indemnified party as a result of such loss, claimsliability, damages claim, damage, or liabilities to which they may be subject (after contribution from others) expense in such proportion so as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection with the statements or omissions that resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party will be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties' relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission.
(e) Notwithstanding the foregoing, to the extent that the Seller is responsible only for provisions on indemnification and contribution contained in an underwriting agreement entered into in connection with the portion represented by the percentage that the underwritten public offering price of its securities offered by are in conflict with the registration statement bears to foregoing provisions, the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess provisions of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) underwriting agreement will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentationcontrol.
Appears in 1 contract
Sources: Registration Rights Agreement (Safeguard Health Enterprises Inc)
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities Shares under the Securities Act pursuant to Section 9Paragraph 11, the Company Corporation will indemnify and hold harmless each Sellerharmless, to the full extent permitted by law, each officer of each Seller, each director of each SellerShareholder selling Shares thereunder, each underwriter of such Registrable Securities Shares thereunder and each other person, if any, who controls any such Seller selling Shareholder or underwriter within with the meaning of the Act or the Securities Exchange Act of 1934, as amended (the "Exchange Act"), against any losses, claims, damages or liabilitiesdamages, liabilities and expenses, joint or several, to which the Sellersuch selling Shareholder, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was Shares were registered under the Act pursuant to Section 9Paragraph 11, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will pay or reimburse the Sellereach such selling Shareholder, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company Corporation (i) will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information pertaining to such selling Shareholder and furnished by any such Sellerselling Shareholder, the any such underwriter or any such controlling person person, as the case may be, in writing specifically for use in such registration statement or statement, prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein and (ii) will not misleading, and will reimburse the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder for amounts paid in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion settlement of any such loss, claim, damage, liability or expense which action if such settlement is equal to effected without the proportion that the public offering price consent of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any actionCorporation, such indemnified party shall, if a claim in respect thereof is consent not to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from unreasonably withheld or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurreddelayed.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 1 contract
Indemnification and Contribution. (a1) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each Sellerthe Stockholder, each underwriter of such Registrable Securities thereunder Shares, and each other person, if any, who controls any the Stockholder or such Seller or underwriter within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the Seller, Stockholder or such underwriter or controlling person may become subject under the Securities Act Act, the Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was Shares were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto such Registration Statement, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, ; and the Company will reimburse the Seller, each Stockholder and such underwriter and each such or controlling person for any legal or any other expenses reasonably incurred by them the Stockholder or such underwriter or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; providedPROVIDED, howeverHOWEVER, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged any untrue statement or omission made (i) in such Registration Statement, preliminary prospectus or alleged omission so made prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by any or on behalf of the Stockholder or such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement the preparation thereof, or (ii) in any prospectus or preliminary prospectus, or any supplement thereto, other than the most current version thereof, if the Stockholder has breached its obligations under Section 4(b).
(b2) In the event of a any registration of any of the Registrable Securities Shares under the Securities Act pursuant to Section 9this Agreement, the Seller Stockholder will indemnify and hold harmless the Company, each of its directors and officers and each underwriter (if any) and each person, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act, each officer of the Company who signs the registration statement and each director of the Company, against all any losses, claims, damages or liabilities, joint or several, to which the Company Company, such directors and officers, underwriter or such officer or director controlling person may become subject under the Securities Act Act, Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any a material fact contained in the registration statement any Registration Statement under which such Registrable Securities Shares were registered under the Securities Act pursuant to Section 9Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto the Registration Statement, or arise out of or are based upon the any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse if the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with information pertaining relating to such Seller, as such, the Stockholder furnished in writing to the Company by such Seller or on behalf of the Stockholder specifically for use in connection with the preparation of such registration statement or Registration Statement, prospectus, and providedamendment or supplement; PROVIDED, further, howeverHOWEVER, that the liability obligations of the Seller Stockholder hereunder shall be limited to an amount equal to the proportion net proceeds to the Stockholder from the Registrable Shares sold in connection with such registration.
(3) Each party entitled to indemnification under this Section (the "INDEMNIFIED PARTY") shall give notice to the party required to provide indemnification (the "INDEMNIFYING PARTY") promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such lossclaim or any litigation resulting therefrom; PROVIDED, claimthat counsel for the Indemnifying Party, damagewho shall conduct the defense of such claim or litigation, liability or expense which is equal to shall be approved by the proportion Indemnified Party (whose approval shall not be unreasonably withheld); and, PROVIDED, FURTHER, that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement failure of any action, such indemnified party shall, if a claim in respect thereof is Indemnified Party to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party give notice as provided herein shall not relieve it from any liability which it may have to such indemnified party other than the Indemnifying Party of its obligations under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and except to the extent that the indemnifying party Indemnifying Party is prejudiced adversely affected by such omissionfailure. In case The Indemnified Party may participate in such defense at such party's expense; PROVIDED, HOWEVER, that the Indemnifying Party shall pay such expense if representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests between the Indemnified Party and any other party represented by such action counsel in such proceeding; PROVIDED FURTHER that in no event shall the Indemnifying Party be required to pay the expenses of more than one law firm per jurisdiction as counsel for the Indemnified Party. The Indemnifying Party also shall be brought against any indemnified party and it shall notify responsible for the indemnifying party expenses of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the such defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and Indemnifying Party does not elect to assume such legal defenses and otherwise to participate defense. No Indemnifying Party, in the defense of any such actionclaim or litigation shall, except with the reasonable expenses and fees consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such separate counsel claim or litigation, and other expenses related no Indemnified Party shall consent to entry of any judgment or settle such participation to claim or litigation without the prior written consent of the Indemnifying Party, which consent shall not be reimbursed by the indemnifying party as incurredunreasonably withheld.
(d4) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case circumstances in which either (i) the Seller, or any controlling person of the Seller, makes a claim indemnification provided for indemnification pursuant to in this Section 9.6 6 is due in accordance with its terms but it for any reason is judicially determined (by held to be unavailable to an Indemnified Party in respect to any losses, claims, damages and liabilities referred to herein, then the entry Indemnifying Party shall, in lieu of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that indemnifying such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such caseIndemnified Party, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate amount paid or payable by such Indemnified Party as a result of such losses, claims, damages or liabilities to which they such party may be subject (after contribution from others) in such proportion so that as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented Company on the one hand and the Stockholder on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Stockholder shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of material fact related to information supplied by the percentage Company or the Stockholder and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Stockholder agree that it would not be just and equitable if contribution pursuant to this Section 6(d) were determined by pro rata allocation or by any other method of allocation which does not take account of the public offering price equitable considerations referred to above. Notwithstanding the provisions of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, thatthis Section 6(d), in any such case, (A) no case shall the Seller will not Stockholder be required to contribute liable or responsible for any amount in excess of the public net proceeds received by the Stockholder from the offering price of all such securities offered by it pursuant to such registration statementRegistrable Shares; and (B) PROVIDED, HOWEVER, that no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. Any party entitled to contribution will, promptly after receipt of notice of commencement of any action, suit or proceeding against such party in respect of which a claim for contribution may be made against another party under this Section, notify the party from whom contribution may be sought, but the omission so to notify the party from whom contribution may be sought shall not relieve such party from any other obligation it or they may have thereunder or otherwise under this Section. No party shall be liable for contribution with respect to any action, suit, proceeding or claim settled without its prior written consent, which consent shall not be unreasonably withheld.
Appears in 1 contract
Sources: Registration Rights Agreement (Avid Technology Inc)
Indemnification and Contribution. (a) In the event of a any registration of any of the Registrable Securities Units under the Securities Act pursuant to Section 9this Agreement, the Company will shall indemnify and hold harmless each Seller, each officer of each Seller, each director of each SellerAzTE, each underwriter of such Registrable Securities thereunder Units, and each other person, if any, who controls any AzTE or such Seller or underwriter within the meaning of the Securities Act, Act or the Exchange Act against any losses, claims, damages or liabilities, joint or several, to which the SellerAzTE, or such underwriter or controlling person may become subject under the Securities Act Act, the Exchange Act, state securities or Blue Sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in any registration statement Registration Statement under which such Registrable Securities was Units were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained thereinin the Registration Statement, or any amendment or supplement thereofto such Registration Statement, or arise out of or are based upon (ii) the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law in connection with the Registration Statement or the offering contemplated thereby; and will the Company shall reimburse the SellerAzTE, each such underwriter and each such controlling person for any legal or any other expenses reasonably incurred by them AzTE or such underwriter or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will shall not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon (x) any untrue statement or omission made in such Registration Statement, preliminary prospectus or prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company by or on behalf of AzTE or such underwriter or controlling person, or (y) AzTE’s or such underwriter’s or controlling person’s failure to send or give a copy of the final prospectus to the persons asserting an untrue statement or alleged untrue statement or omission or alleged omission so at or prior to the written confirmation of sale of Registrable Units to such person if such statement or omission was corrected in the final prospectus. With respect to (A) such untrue statement or omission made in such Registration Statement, preliminary prospectus or prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company by any or on behalf of AzTE or such Seller, the underwriter or any controlling person, or (y) AzTE’s or such underwriter’s or controlling person’s failure to send or give a copy of the final prospectus to the persons asserting an untrue statement or alleged untrue statement or omission or alleged omission at or prior to the written confirmation of sale of Registrable Units to such person if such statement or omission was corrected in the final prospectus, AzTE, such underwriter or such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will shall indemnify and hold harmless the Company, Company and each person, if any, person who controls the Company within the meaning of the Securities Act, each officer of Act or the Company who signs the registration statement and each director of the Company, Exchange Act against all any losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director controlling person may become subject under the Securities Act Act, the Exchange Act, state securities or Blue Sky laws or otherwise, insofar as .
(b) Each Indemnified Party shall give notice to the Indemnifying Party promptly after such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement Indemnified Party has actual knowledge of any material fact contained in claim as to which indemnity may be sought, and shall permit the registration statement under which Indemnifying Party to assume the defense of any such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, claim or any amendment litigation resulting therefrom; provided that counsel for the Indemnifying Party, who shall conduct the defense of such claim or supplement thereoflitigation, shall be approved by the Indemnified Party (whose approval shall not be unreasonably withheld, conditioned or arise out delayed); provided further that the failure of or are based upon any Indemnified Party to give notice as provided herein shall not relieve the omission or alleged omission Indemnifying Party of its obligations under this Section 11.5 except to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse extent that the Company and each Indemnifying Party is adversely affected by such officer or director for any legal or other expenses reasonably incurred by them failure. The Indemnified Party may participate in connection with investigating or defending any such loss, claim, damage, liability or action, defense at such party’s expense; provided, however, that the Seller will Indemnifying Party shall pay such expense if the Indemnified Party reasonably concludes that representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be liable hereunder in inappropriate due to actual or potential differing interests between the Indemnified Party and any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company other party represented by such Seller specifically for use counsel in such registration statement or prospectus, and provided, further, however, proceeding; provided further that in no event shall the liability Indemnifying Party be required to pay the expenses of more than one law firm per jurisdiction as counsel for the Seller hereunder Indemnified Party. The Indemnifying Party also shall be limited responsible for the expenses of such defense if the Indemnifying Party does not elect to assume such defense. No Indemnifying Party, in the proportion defense of any such lossclaim or litigation shall, claimexcept with the consent of each Indemnified Party, damageconsent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such claim or litigation, liability and no Indemnified Party shall consent to entry of any judgment or expense which is equal to settle such claim or litigation without the proportion that the public offering price prior written consent of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunderIndemnifying Party, but which consent shall not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statementbe unreasonably withheld, conditioned or delayed.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case circumstances in which either (i) the Seller, or any controlling person of the Seller, makes a claim indemnification provided for indemnification pursuant to in this Section 9.6 11.5 is due in accordance with its terms but it for any reason is judicially determined (by held to be unavailable to an Indemnified Party in respect to any losses, claims, damages and liabilities referred to herein, then the entry Indemnifying Party shall, in lieu of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that indemnifying such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such caseIndemnified Party, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate amount paid or payable by such Indemnified Party as a result of such losses, claims, damages or liabilities to which they such party may be subject (after contribution from others) in such proportion so that as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented Company on the one hand and AzTE on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and AzTE shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of material fact related to information supplied by the percentage Company or AzTE and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and AzTE agree that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will it would not be required just and equitable if contribution pursuant to contribute this Section 11.5(c) were determined by pro rata allocation or by any amount in excess other method of allocation which does not take account of the public offering price equitable considerations referred to above. Notwithstanding the provisions of all such securities offered by it pursuant to such registration statement; and (B) this Section 11.5(c), no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. Any party entitled to contribution shall, promptly after receipt of notice of commencement of any action, suit or proceeding against such party in respect of which a claim for contribution may be made against another party or parties under this Section 11.5(c), notify such party or parties from whom contribution may be sought, but the omission so to notify such party or parties from whom contribution may be sought shall not relieve such party from any other obligation it or they may have thereunder or otherwise under this Section 11.5(c). No party shall be liable for contribution with respect to any action, suit, proceeding or claim settled without its prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Dover Glen, Inc.)
Indemnification and Contribution. (ai) In the event of a registration of any Registrable Securities of the TMP Shares under the Securities Act pursuant to Section 9this SECTION 8.5, the Company Buyer will indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder and each other person, if any, who controls any such Seller or underwriter within the meaning of the Securities Act, Owner against any losses, claims, damages or liabilities, joint or several, to which the Seller, or such underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director Owner may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, Registration Statement or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse each such Owner for any legal or other expenses reasonably incurred by such Owner in connection with investigating or defending any such loss, claim, damage, liability or action; PROVIDED, HOWEVER, that Buyer will not be liable in any such case if and to the Company extent that any such loss, claim, damage or liability arises out of or is based solely upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished in writing by such Owner specifically for use in such Registration Statement.
(ii) In the event of a registration of any of the TMP Shares under the Securities Act pursuant to this SECTION 8.5, each Owner of such TMP Shares registered thereunder, severally and not jointly, will indemnify and hold harmless Buyer, each person, if any, who controls Buyer within the meaning of the Securities Act, each officer of Buyer who signs the registration statement, each director of Buyer, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which Buyer or such officer, director, underwriter or controlling person may become subject under the Securities Act or otherwise, insofar as such loses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the Registration Statement or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse Buyer and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; PROVIDED, provided, howeverHOWEVER, that the Seller such Owner will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement of a material fact or omission or alleged omission of a material fact made in reliance upon and in conformity with information pertaining to such Seller, as such, Owner furnished in writing to the Company Buyer by such Seller Owner specifically for use in such registration statement or prospectusthe Registration Statement; and PROVIDED FURTHER, and provided, further, howeverHOWEVER, that the liability of the Seller each Owner hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale value of Registrable Securities his TMP Shares covered by such registration statementRegistration Statement. The procedure for any indemnification claims under this SECTION 8.5(F) shall be as set forth in SECTION 9.3 hereof.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(diii) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i1) the Seller, or any controlling person of the Seller, indemnified party exercising rights under this Agreement makes a claim for indemnification pursuant to this Section 9.6 SECTION 8.5(F) but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 SECTION 8.5 provides for indemnification in such case, or (ii2) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller any such Owner in circumstances for which indemnification is provided under this Section 9.6; SECTION 8.5, or (3) the indemnification provided for by this SECTION 8.5 is insufficient to hold harmless an indemnified party, other than by reason of the exceptions provided therein, then, and in each such case, the Company Buyer and the Seller Owners will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) (x) in such proportion so that as is appropriate to reflect the Seller relative fault of the indemnifying party on the one hand and the indemnified party on the other or (y) if the allocation provided by clause (x) above is responsible not permitted by applicable law, or provides a lesser sum to the indemnified party than the amount hereinafter calculated, in such proportion as is appropriate to reflect not only for the portion represented relative fault referred to in clause (x) above but also the relative benefits received by the percentage that indemnifying party and the public offering price of its securities offered by indemnified party from the registration statement bears to of the public offering price of all securities offered by as well as the statements or omissions which resulted in such registration statementlosses, providedclaims, however, that, in damages or liabilities and any such case, (A) the Seller other relevant equitable considerations. No Owner will not be required to contribute any amount in excess of the public offering price value of all his TMP Shares covered by such securities offered by it pursuant to such registration statement; Registration Statement and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 1 contract
Indemnification and Contribution. (a) In the event of a registration of any Registrable Securities under the Securities Act pursuant The Company agrees to Section 9, the Company will indemnify and hold harmless each Seller, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder Underwriter and each other person, if any, who controls any such Seller or underwriter Underwriter within the meaning of either Section 15 of the Securities Act, Act or Section 20 of the Exchange Act from and against any and all losses, claims, damages or and liabilities, joint or severalseveral (including, to which the Sellerwithout limitation, any legal or other expenses reasonably incurred by any Underwriter or any such underwriter or controlling person may become subject under the Securities Act in connection with defending or otherwiseinvestigating any such action or claim), insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon caused by any untrue statement or alleged untrue statement of any a material fact contained in the Registration Statement or any registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9amendment thereof, any preliminary prospectus or final prospectus contained thereinthe Prospectus (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto), or caused by any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellerexcept insofar as such losses, each such underwriter and each such controlling person for any legal claims, damages or other expenses reasonably incurred liabilities are caused by them in connection with investigating or defending any such loss, claim, damage, liability untrue statement or actionomission or alleged untrue statement or omission made in reliance upon and in conformity with information furnished to the Company by any Underwriter in writing through the Manager expressly for use therein; provided, however, that the Company will foregoing indemnity agreement with respect to any preliminary prospectus shall not be liable in any such case if and inure to the extent that benefit of any Underwriter from whom the person asserting such losslosses, claimclaims, damage damages or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Sellerliabilities purchased Offered Securities, the underwriter or any person controlling such controlling person in writing specifically for use in such registration statement or prospectus.
(b) In the event of Underwriter, if a registration of any copy of the Registrable Securities under Prospectus (as then amended or supplemented, if the Act pursuant Company shall have furnished any amendments or supplements thereto) was not sent or given by or on behalf of such Underwriter to Section 9such person, if required by law so to have been delivered, at or prior to such purchase, and if the Seller Prospectus (as so amended or supplemented) would have cured the defect giving rise to such losses, claims, damages or liabilities. This indemnity will be in addition to any liability which the Company may otherwise have. Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either Section 15 of the Securities Act, each officer Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Company who signs to such Underwriter, but only to the registration extent that any untrue statement or omission or alleged untrue statement or omission was made in reliance upon and each director in conformity with information furnished to the Company by any Underwriter in writing through the Manager expressly for use in the Registration Statement, any preliminary prospectus, the Prospectus or any amendments or supplements thereto. This indemnity will be in addition to any liability which the Underwriters may otherwise have. In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to either of the two preceding paragraphs, such person (the "indemnified party") shall promptly notify the person against whom such indemnity may be sought (the "indemnifying party") in writing and the indemnifying party, upon request of the indemnified party, shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all such indemnified parties and that all such fees and expenses shall be reimbursed as they are incurred. Such firm shall be designated in writing by the Manager, in the case of parties indemnified pursuant to the second preceding paragraph, and by the Company, in the case of parties indemnified pursuant to the first preceding paragraph. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such proceeding. If the indemnification provided for in the first or second paragraph in this Section 6 is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilitiesliabilities referred to therein, joint then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or several, to which the Company or payable by such officer or director may become subject under the Securities Act or otherwise, insofar indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and the Underwriters on the other hand from the offering of the Offered Securities or actions (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in respect thereofsuch proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) arise out above but also the relative fault of the Company on the one hand and of the Underwriters on the other hand in connection with the statements or are based upon omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Company on the one hand and the Underwriters on the other hand in connection with the offering of the Offered Securities shall be deemed to be in the same respective proportions as the net proceeds from the offering of such Offered Securities (before deducting expenses) received by the Company and the total underwriting discounts and commissions received by the Underwriters, in each case as set forth in the table on the cover of the Prospectus Supplement, bear to the aggregate public offering price of the Offered Securities. The relative fault of the Company on the one hand and of the Underwriters on the other hand shall be determined by reference to, among other things, whether the untrue statement or alleged untrue statement of any a material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required relates to be stated therein or necessary to make the statements therein not misleading, and will reimburse information supplied by the Company or by the Underwriters and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Underwriters' respective obligations to contribute pursuant to this Section 6 are several in proportion to the respective principal amounts of Offered Securities purchased by each of such officer Underwriters and not joint. The Company and the Underwriters agree that it would not be just or director equitable if contribution pursuant to this Section 6 were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in the immediately preceding paragraph. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by them such indemnified party in connection with investigating or defending any such loss, action or claim, damage, liability or action, provided, however, that . Notwithstanding the Seller will be liable hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out provisions of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Seller, as such, furnished in writing to the Company by such Seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the Registrable Securities sold by the Seller under such registration statement bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered by such registration statement.
(c) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) and 6, no Underwriter shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if and to the extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred.
(d) In order to provide for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Seller, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Seller is responsible only for the portion represented by the percentage that the public offering price of its securities offered by the registration statement bears to the public offering price of all securities offered by such registration statement, provided, however, that, in any such case, (A) the Seller will not be required to contribute any amount in excess of the public offering amount by which the total price of all such securities offered at which the Offered Securities underwritten by it pursuant and distributed to the public were offered to the public exceeds the amount of any damages that such registration statement; and (B) no Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 6 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. The indemnity and contribution provisions contained in this Section 6 and the representations and warranties of the Company contained herein shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Underwriter or any person controlling any Underwriter or by or on behalf of the Company, its directors or officers or any person controlling the Company and (iii) acceptance of and payment for any of the Offered Securities.
Appears in 1 contract
Sources: Underwriting Agreement (Sunamerica Capital Trust Ii)
Indemnification and Contribution. (ai) In To the event of a registration of any Registrable Securities under the Securities Act pursuant to Section 9extent permitted by applicable law, the Company will indemnify and hold harmless each Seller, each officer seller of each Seller, each director of each SellerRegistrable Securities that were registered pursuant to the Registration Statement, each underwriter of such Registrable Securities thereunder thereunder, and each other person, if any, who controls any such Seller seller or underwriter within the meaning of Section 5 of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which the Sellersuch seller, or such underwriter or controlling person may become subject under the Securities Act or otherwiseother applicable Federal or State securities or “blue sky” laws, insofar as to the extent that such losses, claims, damages or liabilities (or actions in respect thereof) arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of any material fact contained in any registration statement the Registration Statement under which such Registrable Securities was were registered under the Act pursuant to Section 9Securities Act, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of of, or are based upon upon, the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Sellereach such seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in to any such case if indemnitee if, and to the extent that that, any such loss, claim, damage or liability arises out of of, or is based upon an upon, an: (i) untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any or on behalf of such Seller, the underwriter or any such controlling person indemnitee in writing specifically for use in such registration statement or prospectus.
; or (bii) In such untrue statement or alleged untrue statement or omission or alleged omission was contained in a preliminary or earlier effective prospectus and corrected in a final or amended prospectus, and such holder of Registrable Securities failed to deliver a copy of the event final or amended prospectus at or prior to the confirmation of a registration of any the sale of the Registrable Securities under to the Act buyer of such Registrable Securities; provided, further, that the indemnity agreement contained in this Section 4.21 shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, provided, that such consent shall not be required if the settlement shall include, as an unconditional term thereof, the giving, by the claimant or plaintiff, to such indemnified party, of a release of the Company from all liability in respect of such claim or litigation.
(ii) To the extent permitted by applicable law, each seller of Registrable Securities that were registered pursuant to Section 9the Registration Statement, the Seller severally and not jointly, will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act, each officer of the Company who signs the registration statement and Registration Statement, each director of the Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer officer, director, underwriter or director controlling person may become subject under the Securities Act or otherwiseother applicable Federal or State securities or “blue sky” laws, insofar as to the extent that such losses, claims, damages or liabilities (or actions in respect thereof) arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of any material fact contained in the registration statement Registration Statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9Act, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of of, or are based upon upon, the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer or director officer, director, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, ; provided, however, that the Seller such seller will be liable hereunder in any such case if if, and only to the extent that that, any such loss, claim, damage or liability arises out of of, or is based upon upon, an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with information pertaining to such Sellerseller, as such, furnished in writing to the Company by by, or on behalf of, such Seller seller specifically for use in such registration statement or prospectus, and provided, further, however, that the liability of the Seller hereunder indemnity agreement contained in this Section 4.21 shall be limited not apply to the proportion amounts paid in settlement of any such loss, claim, damage, liability or expense action if such settlement is effected without the consent of such seller, which is equal consent shall not be unreasonably withheld, provided, that such consent shall not be required if the settlement shall include, as an unconditional term thereof, the giving, by the claimant or plaintiff, to the proportion such indemnified party of a release of such seller from all liability in respect of such claim or litigation; provided, further, that the public offering price liability of the Registrable Securities sold by the Seller under such registration statement bears each seller hereunder shall be limited to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by for the Seller account of such seller from the sale of Registrable Securities covered by such registration statement.
(ciii) Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified party other than under this Section 9.6(c) 4.21 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c) if 4.21 if, and to the extent that, the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof thereof, with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) 4.21 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof thereof, other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party party, or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the indemnified parties party shall have the right to select one a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred; provided, further, that the Company shall not have any reimbursement obligation for the expenses and fees of more than one such separate counsel for all indemnitees.
(div) In order to provide for just and equitable contribution in the event of to joint liability under the Securities Act in any case in which either (i1) the Sellerany holder of Registrable Securities, or any controlling person of the Sellerany such holder, makes a claim for indemnification pursuant to this Section 9.6 4.21 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 4.21 provides for indemnification in such case, or (ii2) contribution under the Securities Act may be required on the part of the Seller any such selling holder or any such controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.64.21; then, and in each such case, the Company and the Seller such holder will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that as is appropriate to reflect the Seller is responsible only for relative fault of the portion represented indemnifying party on the one hand and of the indemnified party on the other, as well as any other relevant equitable considerations. The relative fault of the parties shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the percentage that the public offering price of its securities offered indemnifying party or by the registration indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement bears to the public offering price of all securities offered by such registration statement, or omission; provided, however, that, in any such case, (A) the Seller no such holder will not be required to contribute any amount in excess of the public offering price of all such securities Registrable Securities offered by it pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.
Appears in 1 contract
Sources: Common Stock and Warrant Purchase Agreement (Orthologic Corp)
Indemnification and Contribution. (a) In the event damages or liabilities (or actions in respect thereof) arise out of a registration or are based upon:
(i) any untrue statement or alleged untrue statement of any Registrable material fact contained in (A) the Registration Statement or any amendment thereto or any Preliminary Prospectus or the Prospectus or any amendments or supplements thereto or (B) any application or other document, or any amendment or supplement thereto, executed by the Company or based upon written information furnished by or on behalf of the Company filed in any jurisdiction in order to qualify the Securities under the securities or "Blue Sky" laws thereof or filed with the Commission or any securities association or securities exchange (each an "Application"); or
(ii) the omission or alleged omission to state in such Registration Statement or any amendment thereto, any Preliminary Prospectus or the Prospectus or any amendment or supplement thereto, or any Application, a material fact required to be stated therein or necessary to make the statements therein not misleading, vide a copy of the Prospectus relating to the Securities to such person with or prior to the confirmation of the sale of such Securities sold to such person in any case where delivery is required by the Act pursuant or the Rules and Regulations, unless such failure to Section 9, deliver or provide a copy of the Prospectus relating to the Securities was a result of noncompliance by the Company with Section 5(e)(ii) of this Agreement. This indemnity agreement will be in addition to any liability that the Company and each of the Subsidiaries may otherwise have to the indemnified parties. The Company and each of the Subsidiaries shall not be liable under this Section 8 for any settlement of any claim or action effected without its prior written consent, which shall not be unreasonably withheld. The Underwriters shall not, without the prior written consent of the Company, effect any settlement or compromise of any pending or threatened proceeding in respect of which the Company is or could have been a party, or indemnity could have been sought hereunder by the Company, unless such settlement (A) includes an unconditional written release of the Company, in form and substance reasonably satisfactory to the Company, from all such liability on claims that are the subject matter of such proceeding and (B) does not include any statement as to an admission of fault, culpability or failure to act by or on behalf of the Company.
(b) Each Underwriter severally agrees to indemnify and hold harmless each Sellerthe Company, each officer of each Seller, each director of each Seller, each underwriter of such Registrable Securities thereunder its directors and each other of its officers who signed the Registration Statement and each person, if any, who controls any such Seller or underwriter the Company within the meaning of Section 15 of the Securities Act, Act or Section 20 of the Exchange Act against any losses, claims, damages or liabilities, joint or several, liabilities to which the SellerCompany, or any such underwriter director, officer or controlling person may become subject under the Securities Act Act, the Exchange Act, or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities was registered under the Act pursuant to Section 9, any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Seller, each such underwriter and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such Seller, the underwriter or any such controlling person in writing specifically for use in such registration statement or prospectus.
(bi) In the event of a registration of any of the Registrable Securities under the Act pursuant to Section 9, the Seller will indemnify and hold harmless the Company, and each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the Company who signs the registration statement and each director of the Company, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer or director may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement under which such Registrable Securities were registered under the Securities Act pursuant to Section 9Registration Statement or any amendment thereto, any preliminary prospectus Preliminary Prospectus or final prospectus contained therein, the Prospectus or any amendment or supplement thereofthereto, or arise out of any Application or are based upon (ii) the omission or the alleged omission to state therein a material fact required to be stated therein in the Registration Statement or any amendment thereto, any Preliminary Prospectus or the Prospectus or any amendment or supplement thereto, or any Application, or necessary to make the statements therein not misleading, and will reimburse in each case to the Company and each such officer or director for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such lossextent, claim, damage, liability or action, provided, however, that the Seller will be liable hereunder in any such case if and but only to the extent extent, that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information pertaining to such Seller, as such, furnished in writing to the Company by such Seller Underwriter through the Underwriters specifically for use in such registration statement or prospectustherein; and, and provided, further, however, that the liability of the Seller hereunder shall be limited subject to the proportion of 26 -26- limitation set forth immediately preceding this clause, will reimburse, as incurred, any legal or other expenses incurred by the Company or any such director, officer or controlling person in connection with investigating or defending against or appearing as a third-party witness in connection with any such loss, claim, damage, liability or expense which is equal action in respect thereof. This indemnity agreement will be in addition to any liability that the Underwriters may otherwise have to the proportion that indemnified parties. No Underwriter shall be liable under this Section 8 for any settlement of any claim or action effected without its prior written consent, which shall not be unreasonably withheld. The Company shall not, without the public offering price prior written consent of the Registrable Securities sold by the Seller under applicable Underwriter, effect any settlement or compromise of any pending or threatened proceeding in respect of which such registration statement bears to the total public offering price of all securities sold thereunderUnderwriter is or could have been a party, but not in any event to exceed the net proceeds received by the Seller from the sale of Registrable Securities covered or indemnity could have been sought hereunder by such registration statementUnderwriter, unless such settlement (A) includes an unconditional written release of such Underwriter, in form and substance reasonably satisfactory to such Underwriter, from all such liability on claims that are the subject matter of such proceeding and (B) does not include any statement as to an admission of fault, culpability or failure to act by or on behalf of such Underwriter.
(c) Promptly after receipt by an indemnified party hereunder under this Section 8 of notice of the commencement of any actionaction for which such indemnified party is entitled to indemnification under this Section 8, such indemnified party shallwill, if a claim in respect thereof is to be made against the indemnifying party hereunderunder this Section 8, notify the indemnifying party in writing of the commencement thereof, but the omission so to notify the indemnifying party shall (i) will not relieve it from any liability which it may have under paragraph (a) or (b) above unless and to the extent such failure results in the forfeiture by the indemnifying party of substantial rights and defenses and (ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than under this Section 9.6(cthe indemnification obligations provided in paragraphs (a) and shall only relieve it from any liability which it may have to such indemnified party under this Section 9.6(c(b) if and to the extent the indemnifying party is prejudiced by such omissionabove. In case any such action shall be is brought against any indemnified party party, and it shall notify notifies the indemnifying party of the commencement thereof, the indemnifying party shall will be entitled to participate in therein and, to the extent that it shall may wish, jointly with any other indemnifying party similarly notified, to assume and undertake the defense thereof thereof, with counsel reasonably satisfactory to such indemnified party, and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 9.6(c) for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected, provided, however, that, ; provided that if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded been advised by counsel that there may be reasonable one or more legal defenses available to it which and/or other indemnified parties that are different from or additional to those available to the indemni- 27 -27- fying party, then the indemnifying party or if shall not have the interests right to direct the defense of the such action on behalf of such indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, the or parties and such indemnified party or parties shall have the right to select separate counsel to defend such action on behalf of such indemnified party or parties. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof and approval by such indemnified party of counsel appointed to defend such action, the indemnifying party will not be liable to such indemnified party under this Section 8 for any legal or other expenses, other than reasonable costs of investigation, subsequently incurred by such indemnified party in connection with the defense thereof, unless (i) the indemnified party shall have employed separate counsel in accordance with the proviso to the immediately preceding sentence (it being understood, however, that in connection with such action the indemnifying party shall not be liable for the expenses of more than one separate counsel and (in addition to assume such legal defenses and otherwise to participate local counsel) in any one action or separate but substantially similar actions in the defense same jurisdiction arising out of the same general allegations or circumstances, designated by any Underwriter in the case of paragraph (a) of this Section 8 or the Company, in the case of paragraph (b) of this Section 8, representing the indemnified parties under such actionparagraph (a) or paragraph (b), with as the reasonable expenses and fees of such separate counsel and other expenses related case may be, who are parties to such participation to be reimbursed by action or actions), (ii) the indemnifying party as incurredhas authorized the employment of counsel for the indemnified party at the expense of the indemnifying party or (iii) the indemnifying party shall have failed to assume the defense or retain counsel reasonably satisfactory to the indemnified party. After such notice from the indemnifying party to such indemnified party, the indemnifying party will not be liable for the costs and expenses of any settlement of such action effected by such indemnified party without the consent of the indemnifying party, which consent shall not be unreasonably withheld.
(d) In circumstances in which the indemnity agreement provided for in the preceding paragraphs of this Section 8 is for any reason unavailable or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages or liabilities (or actions in respect thereof), each indemnifying party, in order to provide for just and equitable contribution in the event of joint liability under the Act in any case in which either (i) the Sellercontribution, or any controlling person of the Seller, makes a claim for indemnification pursuant to this Section 9.6 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 9.6 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of the Seller or controlling person of the Seller in circumstances for which indemnification is provided under this Section 9.6; then, and in each such case, the Company and the Seller will shall contribute to the aggregate amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities to which they may be subject (after contribution from othersor actions in respect thereof) in such proportion so that as is appropriate to reflect (i) the Seller is responsible only for the portion represented relative benefits received by the percentage that indemnifying party or parties on the public one hand and the indemnified party on the other from the offering price of its securities offered the Securities or (ii) if the allocation provided by the registration foregoing clause (i) 28 -28- is not permitted by applicable law, not only such relative benefits but also the relative fault of the indemnifying party or parties on the one hand and the indemnified party on the other in connection with the statements or omissions or alleged statements or omissions that resulted in such losses, claims, damages or liabilities (or actions in respect thereof). The relative benefits received by the Company on the one hand and the Underwriters on the other shall be deemed to be in the same proportion as (x) the total proceeds from the offering (net of underwriter's discounts and commissions but before deducting expenses) received by the Company and (y) the total underwriting discounts and commissions received by the Underwriters, respectively, in each case as set forth in the table on the cover page of the Prospectus. The relative fault of the parties shall be determined by reference to, among other things, whether the untrue or alleged untrue statement bears of a material fact or the omission or alleged omission to state a material fact relates to information supplied by an indemnified party or parties on the public offering price one hand, or the indemnifying party or parties on the other, the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission, and any other equitable considerations appropriate in the circumstances. The Company and the Underwriters agree that it would not be equitable if the amount of all securities offered such contribution were determined by pro rata or per capita allocation (even if the Company on the one hand and the Underwriters on the other hand were treated as one entity for such purpose) or by any other method of allocation that does not take into account the equitable considerations referred to in the first sentence of this paragraph (d). Notwithstanding any other provision of this paragraph (d), no Underwriter shall be obligated to make contributions hereunder that in the aggregate exceed the total underwriting discounts and commissions received by such registration statementUnderwriter under this Agreement, provided, however, that, in less the aggregate amount of any damages that such case, (A) the Seller will not be Underwriter has otherwise paid or been required to contribute any amount in excess pay by reason of the public offering price of all such securities offered by it pursuant untrue or alleged untrue statements or the omissions or alleged omissions to such registration statement; state a material fact, and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f11(f) of the Act) will shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. For purposes of this paragraph (d), each person, if any, who controls an Underwriter within the meaning of Section 15 of the Act or Section 20 of the Exchange Act shall have the same rights to contribution as such Underwriter, and each director of the Company, and each officer of the Company who signed the Registration Statement and each person, if any, who controls the Company within the meaning of Section 15 of the 29 -29- Act or Section 20 of the Exchange Act, shall have the same rights to contribution as the Company.
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