Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 9 contracts
Sources: Common Stock Subscription Agreement (Atelier Meats Corp.), Common Stock Subscription Agreement (Water on Demand, Inc.), Common Stock Subscription Agreement (Minmax Spaces)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party (hereinafter, Any party obligated to indemnify the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim other party under this Agreement, the Indemnified Party shall give the indemnitor hereunder Agreement (the “Indemnifying Party”) shall have the right, by written notice to the indemnified party, to assume the defense of such any claim or with respect to which the commencement of such action, suit or proceeding, but failure indemnified party is entitled to so notify indemnification hereunder. If the Indemnifying Party will not relieve gives such written notice, (i) such defense shall be conducted by counsel selected by the Indemnifying Party from any liability it may have and approved by the indemnified party, such approval not to such Indemnified Party hereunder except be unreasonably withheld or delayed (provided, however, that the indemnified party’s approval shall not be required with respect to counsel designated by the extent that Indemnifying Party’s insurer); (ii) so long as the Indemnifying Party is materially prejudiced by conducting such failure. Such notice shall state defense with reasonable diligence, the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend control said defense and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing required to pay the Indemnifying Party with fees or disbursements of any books, records and other information reasonably requested counsel engaged by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After indemnified party for services rendered after the Indemnifying Party has notified given the Indemnified Party written notice provided for above to the indemnified party, except if there is a conflict of its intention interest between the parties with respect to undertake to defend such claim or settle any such asserted liability, defense; and for so long as (iii) the Indemnifying Party diligently pursues shall have the right, without the consent of the indemnified party, to settle such defenseclaim, provided that such settlement involves only the payment of money, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party pays all amounts due in connection with any defense or settlement by reason of such asserted liability; providedsettlement and, howeveras part thereof, that the Indemnified Party indemnified party is unconditionally released from all liability in respect of such claim. The indemnified party shall be entitled (i) at its expense, have the right to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) claim being defended by the Indemnifying Party has failed to assume at the defense or employ counsel reasonably acceptable to expense of the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and indemnified party, but the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume control such legal defense and otherwise to participate (other than in the defense event of such action, a conflict of interest between the parties with the expenses and fees of such separate counsel and other expenses related respect to such participation to be reimbursed by claim or defense). In no event shall (i) the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not indemnified party settle any indemnified claim without the consent of the Indemnified Indemnifying Party so long as the Indemnifying Party is conducting the defense thereof in accordance with this Agreement; or (ii) if a claim is covered by the Indemnifying Party’s liability insurance, unless take or omit to take any action which would cause the settlement thereof imposes no insurer not to defend such claim or to disclaim liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiserespect thereof.
Appears in 9 contracts
Sources: Mutual Exclusivity Agreement (Braemar Hotels & Resorts Inc.), Mutual Exclusivity Agreement (Ashford Hospitality Trust Inc), Mutual Exclusivity Agreement (Ashford Inc.)
Indemnification Procedure. Promptly after any Company Partnership Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit action or proceeding by a third personparty, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit action or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, include furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, involves no admission of wrongdoing or malfeasance by, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 7 contracts
Sources: Common Unit Purchase Agreement (DCP Midstream Partners, LP), Securities Purchase Agreement (El Paso Pipeline Partners, L.P.), Common Unit Purchase Agreement (Universal Compression Partners, L.P.)
Indemnification Procedure. Promptly after any Company Regency Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Partycounsel, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or and employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include contain any admission of wrongdoing or malfeasance wrong doing by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 7 contracts
Sources: Common Unit Purchase Agreement, Common Unit Purchase Agreement (Regency Energy Partners LP), Common Unit Purchase Agreement (Regency Energy Partners LP)
Indemnification Procedure. Promptly after any Company Partnership Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settlesettle any such action or claim, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 6 contracts
Sources: Series D Preferred Unit and Warrant Purchase Agreement (Teekay Offshore Partners L.P.), Common Unit Purchase Agreement (Teekay Offshore Partners L.P.), Series C Preferred Unit Purchase Agreement
Indemnification Procedure. Promptly after Each Party, as an indemnifying party (an “Indemnifying Party”), shall not be permitted to settle or compromise any Company Related claim or action giving rise to Third Party Liabilities in a manner (i) that imposes any restrictions or Purchaser Related Party obligations on the indemnified party (hereinafter, the an “Indemnified Party”) or, if Licensee is the Indemnifying Party, on Licensor’s licensors under the Existing Licenses, without the other Party’s prior written consent, (ii) if Licensee is the Indemnifying Party, that grants any rights to the Licensed Technology or Licensed Products other than those Licensee has received notice of any indemnifiable claim hereunderthe right to grant under this Agreement without Licensor’s prior written consent, or (iii) if Licensor is the commencement of Indemnifying Party, that grants any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim rights that are inconsistent with those granted to Licensee under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) Agreement without Licensee’s prior written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then knownconsent. The Indemnifying Party shall have be permitted to control any litigation or potential litigation involving the right defense of any claim subject to defend and settleindemnification pursuant to this Section 8.4, at its own expense and by its own counsel who shall be reasonably acceptable to including the selection of counsel, with the reasonable approval of the Indemnified Party, . If an Indemnifying Party fails or declines to assume the defense of any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend claim or settleaction within […***…] after notice thereof, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in may assume the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession of such claim or control. Such cooperation of the Indemnified Party shall be action at the cost and risk of the Indemnifying Party, and any Third Party Liabilities related thereto shall be conclusively deemed a Third Party Liability of the Indemnifying Party. After the Indemnifying Party has notified the The indemnification rights of a Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party contained in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that this Agreement are different from or in addition to those available to the Indemnifying Party or if the interests of the all other rights which such Indemnified Party reasonably may be deemed to conflict with the interests of the Indemnifying Party, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise. The Indemnifying Party will pay directly all Third Party Liabilities incurred for defense or negotiation of any claim hereunder or will reimburse the Indemnified Party for all documented Third Party Liabilities incident to the defense or negotiation of any such claim within […***…] after the Indemnifying Party’s receipt of invoices for such fees, expenses, and charges.
Appears in 6 contracts
Sources: Option and License Agreement (Ultragenyx Pharmaceutical Inc.), License Agreement (Dimension Therapeutics, Inc.), Option and License Agreement (Dimension Therapeutics, Inc.)
Indemnification Procedure. Promptly after any Company Atlas Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit action or proceeding by a third personparty, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit action or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, include furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, involves no admission of wrongdoing or malfeasance by, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 5 contracts
Sources: Class C Preferred Unit Purchase Agreement (Atlas Energy, L.P.), Class C Preferred Unit Purchase Agreement (Atlas Resource Partners, L.P.), Class D Preferred Unit Purchase Agreement (Atlas Pipeline Partners Lp)
Indemnification Procedure. Promptly after any Company Crosstex Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Partycounsel, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or and employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include contain any admission of wrongdoing or malfeasance wrong doing by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 5 contracts
Sources: Common Unit Purchase Agreement (Crosstex Energy Lp), Common Unit Purchase Agreement (Crosstex Energy Lp), Common Unit Purchase Agreement (Crosstex Energy Lp)
Indemnification Procedure. Promptly after A claim to which indemnification applies under Section 6.6(a) or Section 6.6(b) will be referred to herein as a “Claim”. If any Company Related Party or Purchaser Related Party (hereinaftereach, the an “Indemnified Party”) has received notice of any indemnifiable intends to claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim indemnification under this AgreementSection 6.6, the Indemnified Party shall give will notify the indemnitor hereunder other Party (the “Indemnifying Party”) written in writing promptly upon becoming aware of any claim that may be a Claim (it being understood and agreed, however, that the failure by an Indemnified Party to give such notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder of its indemnification obligation under this Agreement except and only to the extent that the Indemnifying Party is materially actually prejudiced by such failure. Such notice shall state the nature and the basis as a result of such claim failure to the extent then knowngive notice). The Indemnifying Party shall will have the right to defend assume and settle, control the defense of such Claim at its own expense with counsel selected by the Indemnifying Party and by its own counsel who shall be reasonably acceptable to the Indemnified Party. The Indemnified Party will have the right to retain its own counsel, any with the fees and expenses to be paid by the Indemnified Party, if representation of such matter as long as Indemnified Party by the counsel retained by the Indemnifying Party pursues the same diligently would be inappropriate due to actual or potential conflict of interests between such counsel and any other Party represented by such counsel in good faithsuch proceedings. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall does not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in assume the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to Claim as aforesaid, the Indemnified Party or (B) if the defendants in any may defend such action include both the Claim but will have no obligation to do so. The Indemnified Party and will not settle or compromise any Claim without the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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 prior written consent of the Indemnifying Party, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall will not settle or compromise any indemnified claim Claim in any manner which would have an adverse effect on the Indemnified Party’s interests, without the prior written consent of the Indemnified Party, unless which consent, in each case, will not be unreasonably withheld, conditioned or delayed. The Indemnified Party will reasonably cooperate with the settlement thereof imposes no liability or obligation onIndemnifying Party, at the Indemnifying Party’s expense, and includes a complete release from liability of, and does not include any admission will make available to the Indemnifying Party all pertinent information under the control of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this , which information will be subject to Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise5.
Appears in 5 contracts
Sources: License Agreement (Caribou Biosciences, Inc.), License Agreement (Caribou Biosciences, Inc.), License Agreement (Intellia Therapeutics, Inc.)
Indemnification Procedure. Promptly after any Company Inergy Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Partycounsel, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or and employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 5 contracts
Sources: Common Unit Purchase Agreement, Purchase Agreement (Inergy Holdings, L.P.), Purchase Agreement (Inergy L P)
Indemnification Procedure. Promptly after any Company Related (a) If a Buyer Indemnified Party or Purchaser Related a Seller Indemnified Party seeks indemnification under this Article IX, such party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give written notice to the indemnitor hereunder other party (the “Indemnifying Party”) written notice of such claim the facts and circumstances giving rise to the claim. In that regard, if any Action, Liability or obligation shall be brought or asserted by any third party which, if adversely determined, would entitle the commencement of such actionIndemnified Party to indemnity pursuant to this Article IX (a “Third-Party Claim”), suit or proceeding, but failure to so the Indemnified Party shall promptly notify the Indemnifying Party will not relieve the Indemnifying of such Third-Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and Claim in writing, specifying the basis of such claim and the facts pertaining thereto, and the Indemnifying Party, if the Indemnifying Party so elects, shall assume and control the defense thereof (and shall consult with the Indemnified Party with respect thereto), including the employment of counsel reasonably satisfactory to the extent then knownIndemnified Party and the payment of all necessary expenses. The If the Indemnifying Party elects to assume control of the defense of a Third-Party Claim, the Indemnified Party shall have the right to defend and settle, at its own expense and by its own employ counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its separate from counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested employed by the Indemnifying Party in any such action and to participate in the Indemnified Party’s possession or control. Such cooperation defense thereof, but the fees and expenses of such counsel employed by the Indemnified Party shall be at the cost expense of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) unless the Indemnifying Party has failed to assume the defense or and employ counsel; in which case the fees and expenses of the Indemnified Party’s counsel reasonably acceptable to shall be paid by the Indemnifying Party. All claims other than Third-Party Claims (a “Direct Claim”) may be asserted by the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and giving notice to the Indemnifying Party and counsel to Party. Absent an emergency or other extenuating circumstance, the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or in addition to those available give written notice to the Indemnifying Party or if the interests of such Direct Claim prior to taking any material actions to remedy such Direct Claim.
(b) In no event shall the Indemnified Party reasonably may be deemed pay or enter into any settlement of any claim or consent to conflict any judgment with respect to any Third-Party Claim without the interests prior written consent of the Indemnifying Party, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party (which consent shall not settle any indemnified claim without the consent of the Indemnified Partybe unreasonably withheld, unless the settlement thereof imposes no liability conditioned or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwisedelayed).
Appears in 5 contracts
Sources: Securities Purchase Agreement (Firefly Neuroscience, Inc.), Securities Purchase Agreement (Smart for Life, Inc.), Securities Purchase Agreement (Smart for Life, Inc.)
Indemnification Procedure. Promptly after any Company Related Any Party or Purchaser Related Party entitled to indemnification under this Section (hereinafter, the each an “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall agrees to give the indemnitor Party required to indemnify such Party hereunder (the each an “Indemnifying Party”) prompt written notice of such claim or the commencement of such action, suit or proceeding, but failure any Indemnity Claim as to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability which it may have intends to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then knownrequest indemnification hereunder. The Indemnifying Party shall will have the right to defend and settledirect, through counsel of its own choosing, the defense or settlement of any Indemnity Claim at its own expense and by expense. The Indemnified Party may participate in such defense at its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faithexpense. If the Indemnifying Party undertakes fails to defend or, if after commencing or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle undertaking any such asserted liabilitydefense, and for so long as the Indemnifying Party diligently pursues fails to prosecute or withdraws from such defense, the Indemnified Party will have the right to undertake the defense or settlement thereof, at the Indemnifying Party shall not be liable for any additional legal expenses incurred by Party’s expense. If the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in assumes the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party Indemnity Claim pursuant to this section and the Indemnifying Party and counsel proposes to the Indemnified Party shall have concluded that there may be reasonable defenses available settle such Indemnity Claim prior to the Indemnified Party that are different from a final judgment thereon or in addition to those available to the Indemnifying Party or if the interests of the Indemnified Party reasonably may be deemed to conflict forego any appeal with the interests of the Indemnifying Partyrespect thereto, then the Indemnified Party shall will give the Indemnifying Party prompt written notice thereof and the Indemnifying Party will have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the settlement or assume or reassume the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurredIndemnity Claim. Notwithstanding any other provision of anything contained in this AgreementSection to the contrary, the Indemnifying Party shall not settle any indemnified claim will not, without the prior written consent of the Indemnified PartyParty (which consent will not be unreasonably withheld or delayed), unless the agree to a settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwisesuch Indemnity Claim.
Appears in 5 contracts
Sources: Charter School Contract, Charter School Contract, Charter School Contract
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party person entitled to indemnification under this Section 7 (hereinafter, the “Indemnified Party”) has received notice of or has knowledge of any indemnifiable claim hereunder, against the Indemnified Party by a person not a party to this Agreement (a “Third Person”) or the commencement of any action, suit action or proceeding by a third personThird Person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party it shall give the indemnitor hereunder other party (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit action or proceeding, but failure to so notify ; provided that no delay on the part of the Indemnified Party in notifying the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party obligation hereunder except unless, and then solely to the extent that that, the Indemnifying Party is materially prejudiced by such failurethereby. Such notice shall state the nature and the basis of such claim to and a reasonable estimate of the extent then knownDamages. The Indemnifying Party shall have the right to defend and settledefend, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Partycounsel, any such matter as so long as the Indemnifying Party pursues the same diligently and in good faithfaith and diligently. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall reasonably cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the in any settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any personnel, books, records and other or information reasonably requested by the Indemnifying Party and that are in the Indemnified Party’s possession or control. Such cooperation of Notwithstanding the foregoing, the Indemnified Party shall be have the right to participate in any matter through counsel of its own choosing at the cost its own expense (unless there is a conflict of interest that prevents counsel for the Indemnifying Party from representing the Indemnified Party, in which case the Indemnifying Party will reimburse the Indemnified Party for the expenses of its counsel). After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that . If the Indemnifying Party does not undertake to defend such matter to which the Indemnified Party shall be is entitled (i) at its expenseto indemnification hereunder, or fails to participate in the defense of diligently pursue such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to defense, the Indemnified Party or (B) if may undertake such defense through counsel of its choice, at the defendants in any such action include both the Indemnified Party cost and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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 expense of the Indemnifying Party, then and the Indemnified Party shall have the right to select a separate counsel may settle such matter, and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle reimburse the Indemnified Party for the amount paid in such settlement and any indemnified claim other liabilities or expenses incurred by the Indemnified Party in connection therewith. No party hereto, without the prior written consent of the Indemnified Partyother, shall settle, compromise or consent to the entry of any judgment with respect to any pending or threatened Claim unless the settlement thereof imposes no liability settlement, compromise or obligation on, consent (1) provides for and includes a complete an express, unconditional release of all Indemnified Parties and Indemnifying Parties from liability ofall liabilities, claims, demands, actions and obligations in connection therewith and (2) does not include provide for any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiserelief other than monetary relief.
Appears in 5 contracts
Sources: Plan and Agreement of Merger (Qrons Inc.), Plan and Agreement of Merger (Qrons Inc.), Merger Agreement (Bowmo, Inc.)
Indemnification Procedure. Promptly after any Company Related Indemnified Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personPerson, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) Company written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party Company will not relieve the Indemnifying Party Company from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party Company is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party Company shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party Company pursues the same diligently and in good faith. If the Indemnifying Party Company undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party Company and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party Company with any books, records and other information reasonably requested by the Indemnifying Party Company and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying PartyCompany. After the Indemnifying Party Company has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party Company diligently pursues such defense, the Indemnifying Party Company shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (ia) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (iib) if (Ai) the Indemnifying Party Company has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (Bii) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party Company and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or in addition to those available to the Indemnifying Party Company or if the interests of the Indemnified Party reasonably may be deemed to conflict with the interests of the Indemnifying PartyCompany, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party Company as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party Company shall not settle any indemnified claim without the written consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 4 contracts
Sources: Securities Purchase Agreement (Local Bounti Corporation/De), Securities Purchase Agreement (Lyra Therapeutics, Inc.), Securities Purchase Agreement (Celcuity Inc.)
Indemnification Procedure. Promptly after any Company Buckeye Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 4 contracts
Sources: Unit Purchase Agreement (Buckeye Partners, L.P.), Class B Unit Purchase Agreement (Buckeye Partners, L.P.), Lp Unit Purchase Agreement (Buckeye Partners, L.P.)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified PartyParty (which consent shall not be unreasonably withheld, delayed or conditioned), unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 Article VI are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 4 contracts
Sources: Exchange Agreement (Franklin BSP Realty Trust, Inc.), Purchase and Exchange Agreement (Benefit Street Partners Realty Trust, Inc.), Purchase Agreement (Benefit Street Partners Realty Trust, Inc.)
Indemnification Procedure. Promptly after Each Party, as an indemnifying party (an “Indemnifying Party”), shall not be permitted to settle or compromise any Company Related claim or action giving rise to Third Party Liabilities in a manner (i) that imposes any restrictions or Purchaser Related Party obligations on the indemnified party (hereinafter, the an “Indemnified Party”) or, if Bayer is the Indemnifying Party, on ReGenX or its licensors under the Existing Licenses, without the other Party’s prior written consent, (ii) if Bayer is the Indemnifying Party, that grants any rights to the Licensed Technology or Licensed GT Products other than those Bayer has received notice the right to grant under this Agreement without Dimension’s prior written consent, or (iii) if Dimension is the Indemnifying Party, that grants any rights that are inconsistent with those granted to Bayer under this Agreement without Bayer’s prior written consent. The Indemnified Party shall notify the Indemnifying Party within […***…] of becoming aware of any indemnifiable claim hereunder, or the commencement of any action, suit claims asserted or proceeding by a third person, which threatened against the Indemnified Party believes in good faith is an indemnifiable claim that could give rise to a right of indemnification under this Agreement, provided however that the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will give such notice shall not relieve the Indemnifying Party from any liability it may have to such Indemnified Party of its indemnity obligation hereunder except to the extent that the Indemnifying Party is such failure materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then knownprejudices its rights hereunder. The Indemnifying Party shall have be permitted to control any litigation or potential litigation involving the right defense of any claim subject to defend and settleindemnification pursuant to this Section 11.5, at its own expense and by its own counsel who including the selection of counsel. The Indemnified Party shall be reasonably acceptable to the Indemnified Party, any such matter as long as keep the Indemnifying Party pursues apprised of all material developments with respect to the same diligently claim and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing provide the Indemnifying Party with any books, records copies of all correspondence and other information reasonably requested documents exchanged by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel opposing party(ies) to the such litigation. The Indemnified Party shall have concluded that there may be reasonable defenses available to not compromise or settle such litigation without the Indemnified Party that are different from or 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 prior written consent of the Indemnifying Party, then the such consent not to be unreasonably withheld or delayed. The indemnification rights of a Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for contained in this Section 6 Agreement are cumulative and are not exclusive of any remedies that in addition to all other rights which such Indemnified Party may be available to a party have at law or in equity or otherwise. The Indemnifying Party will pay directly all Third Party Liabilities incurred for defense or negotiation of any claim hereunder or will reimburse the Indemnified Party for all documented Third Party Liabilities incident to the defense or negotiation of any such claim within […***…] after the Indemnifying Party’s receipt of invoices for such fees, expenses, and charges.
Appears in 4 contracts
Sources: Collaboration and License Agreement (Ultragenyx Pharmaceutical Inc.), Collaboration and License Agreement (Dimension Therapeutics, Inc.), Collaboration and License Agreement (Dimension Therapeutics, Inc.)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party person entitled to indemnification under this Article VII (hereinafter, the “Indemnified Party”) has received notice of or has knowledge of any indemnifiable claim hereunder, against the Indemnified Party by a person not a party to this Agreement (a “Third Person”) or the commencement of any action, suit action or proceeding by a third personThird Person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party it shall give the indemnitor hereunder other party (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit action or proceeding, but failure to so notify ; provided that no delay on the part of the Indemnified Party in notifying the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party obligation hereunder except unless, and then solely to the extent that that, the Indemnifying Party is materially prejudiced by such failurethereby. Such notice shall state the nature and the basis of such claim to and a reasonable estimate of the extent then knownDamages. The Indemnifying Party shall have the right to defend and settledefend, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Partycounsel, any such matter as so long as the Indemnifying Party pursues the same diligently and in good faithfaith and diligently. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall reasonably cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the in any settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any personnel, books, records and other or information reasonably requested by the Indemnifying Party and that are in the Indemnified Party’s =s possession or control. Such cooperation of Notwithstanding the foregoing, the Indemnified Party shall be have the right to participate in any matter through counsel of its own choosing at the cost its own expense (unless there is a conflict of interest that prevents counsel for the Indemnifying Party from representing the Indemnified Party, in which case the Indemnifying Party will reimburse the Indemnified Party for the expenses of its counsel). After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that . If the Indemnifying Party does not undertake to defend such matter to which the Indemnified Party shall be is entitled (i) at its expenseto indemnification hereunder, or fails to participate in the defense of diligently pursue such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to defense, the Indemnified Party or (B) if may undertake such defense through counsel of its choice, at the defendants in any such action include both the Indemnified Party cost and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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 expense of the Indemnifying Party, then and the Indemnified Party shall have the right to select a separate counsel may settle such matter, and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle reimburse the Indemnified Party for the amount paid in such settlement and any indemnified claim other liabilities or expenses incurred by the Indemnified Party in connection therewith. No party hereto, without the prior written consent of the Indemnified Partyother, shall settle, compromise or consent to the entry of any judgment with respect to any pending or threatened Claim unless the settlement thereof imposes no liability settlement, compromise or obligation on, consent (i) provides for and includes a complete an express, unconditional release of all Indemnified Parties and Indemnifying Parties from liability ofall liabilities, claims, demands, actions and obligations in connection therewith and (ii) does not include provide for any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiserelief other than monetary relief.
Appears in 4 contracts
Sources: Merger Agreement (Safedox, Inc.), Merger Agreement (Ubroadcast, Inc.), Merger Agreement (Diamond I, Inc.)
Indemnification Procedure. Promptly after any Company Related If an Indemnified Party or Purchaser Related asserts that an Indemnifying Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunderbecome obligated to indemnify pursuant to this Section 7, or the commencement if any Action is begun, made or instituted as a result of any action, suit or proceeding by a third person, which the Indemnifying Party may become obligated to an Indemnified Party believes in good faith is an indemnifiable claim under this Agreementhereunder, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or to the commencement of such action, suit or proceeding, Indemnifying Party within a sufficiently prompt time to avoid prejudice to the Indemnifying Party (but the failure to so promptly notify the Indemnifying Party will shall not relieve the Indemnifying Party from any liability it may have its obligation to such indemnify the Indemnified Party hereunder except hereto to the extent that it is not actually prejudiced thereby), specifying in reasonable detail the facts upon which the claimed right to indemnification is based. The Indemnifying Party is materially prejudiced by such failure. Such notice shall state shall, at its own cost, contest and defend any Action against the nature and the basis of such claim to the extent then knownIndemnified Party. The Indemnifying Party shall have not consent to the right entry of any judgment or enter into any settlement without the consent, not to defend be unreasonably withheld or delayed, of the Indemnified Party if such judgment or settlement (a) does not include as an unconditional term thereof the giving by each claimant or plaintiff to the Indemnified Party (and settleany applicable Affiliate thereof) of an unconditional and irrevocable release from all Liability in respect to such claim, at (b) would result in the finding or admission of any violation of applicable Law by the Indemnified Party or its own expense and Affiliates or (c) provides for injunctive or other non-monetary relief affecting the Indemnified Party or its Affiliates. Any payment to be made by its own counsel who an Indemnifying Party to an Indemnified Party shall be reasonably acceptable made within thirty (30) days of (i) the Indemnified Party’s delivery of notice of a claim for indemnification, such claim being uncontested by the Indemnifying Party within the thirty (30) day period, or (ii) in the event that the Indemnifying Party contests the claim pursuant to the dispute resolution procedures set forth in Section 10 hereof and the dispute is resolved in favor of the Indemnified Party, any the date of final determination of the amount to be indemnified under such matter as long as the Indemnifying Party pursues the same diligently and in good faithclaim. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the The Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall may not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as Action itself without the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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 consent of the Indemnifying Party, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation not to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability unreasonably withheld or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwisedelayed.
Appears in 4 contracts
Sources: Transitional Services Agreement, Transitional Services Agreement (Allscripts-Misys Healthcare Solutions, Inc.), Transitional Services Agreement (Misys PLC)
Indemnification Procedure. Promptly after receipt by any Company Related Party party entitled to indemnification pursuant to Section 3.7(a) or Purchaser Related Party 3.7(b) of this Agreement (hereinafter, the “an "Indemnified Party”") has received of notice by a third party of any indemnifiable claim hereunder, complaint or the commencement of any action, suit action or proceeding by a third personwith respect to which indemnification is being sought hereunder, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the such Indemnified Party shall give notify the indemnitor hereunder party obligated to provide such indemnification (the “"Indemnifying Party”") written notice of such claim complaint or of the commencement of such action, suit action or proceeding; PROVIDED, but HOWEVER, that the failure to so notify the Indemnifying Party will shall not relieve the Indemnifying Party from any liability it for such claim arising otherwise than under this Agreement, and such failure to so notify the Indemnifying Party shall relieve the Indemnifying Party from liability which the Indemnifying Party may have hereunder with respect to such Indemnified Party hereunder except claim if, but only if, and only to the extent that that, such failure to notify the Indemnifying Party is materially prejudiced results in the forfeiture by such failure. Such notice shall state the nature Indemnifying Party of material rights and the basis of such claim defenses otherwise available to the extent then knownIndemnifying Party with respect to such claim. The Indemnifying Party shall have the right to defend and settleright, at its own expense and by its own counsel who shall be reasonably acceptable upon written notice to the Indemnified Party, any to assume the defense of such matter as long as action or proceeding, including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of the fees and disbursements of such counsel. In the event, however, that the Indemnifying Party pursues declines or fails to assume the same diligently defense of the action or proceeding or to employ counsel reasonably satisfactory to the Indemnified Party, in either case in a timely manner, then such Indemnified Party may employ counsel to represent or defend it in any such action or proceeding and in good faith. If the Indemnifying Party undertakes to defend or settleshall pay the reasonable fees and disbursements of such counsel as incurred; PROVIDED, it shall promptly notify the Indemnified Party of its intention to do soHOWEVER, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, that the Indemnifying Party shall not be liable required to pay the fees and disbursements of more than one counsel for all Indemnified Parties in any jurisdiction in any single action or proceeding. In any action or proceeding with respect to which indemnification is being sought hereunder, the Indemnified Party or the Indemnifying Party, whichever is not assuming the defense of such action, shall have the right to participate in such litigation and to retain its own counsel at such party's own expense. The Indemnifying Party or the Indemnified Party, as the case may be, shall at all times use reasonable best efforts to keep the Indemnifying Party or the Indemnified Party, as the case may be, reasonably apprised of the status of the defense of any action, the defense of which it is maintaining and to cooperate in good faith with the Indemnifying Party or the Indemnified Party, as the case may be, with respect to the defense of any such action. No Indemnified Party may settle or compromise any claim or consent to the entry of any judgment with respect to which indemnification is being sought hereunder without the prior written consent of the Indemnifying Party, unless such settlement, compromise or consent includes an unconditional release of the Indemnifying Party from all liability arising out of such claim. An Indemnifying Party may not, without the prior written consent of the Indemnified Party, settle or compromise any claim or consent to the entry of any judgment with respect to which indemnification is being sought hereunder unless such settlement, compromise or consent includes an unconditional release of the Indemnified Party from all liability arising out of such claim and does not contain any equitable order, judgment or term which in any manner affects, restrains or interferes with the business of the Indemnified Party or any of the Indemnified Party's affiliates. In the event an Indemnified Party shall claim a right to payment pursuant to this Agreement, such Indemnified Party shall send written notice of such claim to the appropriate Indemnifying Party. Such notice shall specify the basis for such claim. As promptly as possible after the Indemnified Party has given such notice, such Indemnified Party and the appropriate Indemnifying Party shall establish the merits and amount of such claim (by mutual agreement or otherwise) and, within five business days of the final determination of the merits and amount of such claim, the Indemnifying Party shall deliver to the Indemnified Party immediately available funds in an amount equal to such claim as determined hereunder. If for any additional legal expenses incurred reason the indemnification provided for in this Section 3.7 is unavailable to an Indemnified Party or is insufficient to hold it harmless as contemplated by this Section 3.7, then the Indemnifying Party shall contribute to the amount paid or payable by the Indemnified Party in connection with any defense or settlement as a result of such asserted liability; providedloss, howeverclaim, that damage or liability in such proportion as is appropriate to reflect the Indemnified Party shall be entitled (i) at its expense, to participate in the defense relative fault of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party Party, as well as any other relevant equitable considerations; PROVIDED that in no event shall the liability of any Holder for such contribution and counsel indemnification exceed, in the aggregate, the dollar amount of the proceeds received by such Holder upon the sale of Shares giving rise to such indemnification and contribution obligations. The obligations of the Indemnified Party parties under this Section 3.7 shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or in addition to those available any liability which any party may otherwise have 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiseparty.
Appears in 4 contracts
Sources: Registration Rights and Voting Agreement (Dutch Institutional Holding Co Inc), Registration Rights and Voting Agreement (Cornerstone Properties Inc), Registration Rights and Voting Agreement (Stichting Pensioenfonds Voor De Gezonheid Geest en Maat Bel)
Indemnification Procedure. Promptly after any Company AMD Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 4 contracts
Sources: Convertible Preferred Unit Purchase Agreement, Convertible Preferred Unit Purchase Agreement (American Midstream Partners, LP), Series B Unit Purchase Agreement (American Midstream Partners, LP)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personPerson, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (ia) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (iib) if (Ai) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (Bii) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 4 contracts
Sources: Securities Purchase Agreement (Scientific Industries Inc), Securities Purchase Agreement (Scientific Industries Inc), Securities Purchase Agreement (Scientific Industries Inc)
Indemnification Procedure. (a) Promptly after any Company Related receipt by a Purchaser Indemnified Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received under Section 7.1 of notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the such Purchaser Indemnified Party believes shall, if a Claim in good faith respect thereof is an indemnifiable claim to be made against any Indemnifying Party under this AgreementSection 7.1, notify the Indemnified Indemnifying Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such actionthereof; provided, suit or proceedinghowever, but that failure to so notify the Indemnifying Party will shall not relieve affect the Indemnifying Party from any liability it may have to such Indemnified Party hereunder Party’s obligations hereunder, except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice The Indemnifying Party shall state be entitled to appoint counsel of the nature Indemnifying Party’s choice at the Indemnifying Party’s expense to represent the Purchaser Indemnified Party in any action for which indemnification is sought (in which case the Indemnifying Party shall not thereafter be responsible for the fees and expenses of any separate counsel retained by the basis of Purchaser Indemnified Parties except as set forth below); provided, however, that such claim counsel shall be reasonably satisfactory to the extent then knownPurchaser Indemnified Party. The Notwithstanding the Indemnifying Party’s election to appoint counsel to represent the Purchaser Indemnified Party in an action, the Purchaser Indemnified Party shall have the right to defend employ separate counsel (including local counsel), and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues shall bear the same diligently reasonable fees, costs and in good faith. If expenses of such separate counsel if: (i) the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party use of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested chosen by the Indemnifying Party and in to represent the Indemnified Party’s possession or control. Such cooperation of the Purchaser Indemnified Party shall be at the cost would present such counsel with a conflict of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liabilityinterest; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense actual or employ counsel reasonably acceptable to the Indemnified Party potential defendants in, or (B) if the defendants in targets of, any such action include both the Purchaser Indemnified Party and the Indemnifying Party and counsel to the Purchaser Indemnified Party shall have reasonably concluded that there may be reasonable defenses legal defences available to the it and/or other Purchaser Indemnified Party that Parties which are different from or in addition additional to those available to the Indemnifying Party; (iii) the Indemnifying Party or if shall not have employed counsel reasonably satisfactory to the interests Purchaser Indemnified Party to represent the Purchaser Indemnified Party within 14 days after notice of the institution of such action; or (iv) the Indemnifying Party shall authorize the Purchaser Indemnified Party reasonably to employ separate counsel at the expense of the Indemnifying Party.
(b) No Purchaser Indemnified Party shall, without the prior express written consent of the Indemnifying Party (which consent shall not be unreasonably withheld or delayed), consent to any judgment or effect any settlement of any pending or threatened action, suit or proceeding.
(c) The Indemnifying Party shall not, without the prior express written consent of the Purchaser Indemnified Party, consent to any judgment or effect any settlement of any pending or threatened action, suit or proceeding in respect of which any Purchaser Indemnified Party is or could have been a party and indemnity could have been sought hereunder by such Purchaser Indemnified Party, unless such settlement includes an unconditional release of such Purchaser Indemnified Party from all liability on Claims that are the subject matter of such action, suit or proceeding.
(d) Notwithstanding anything to the contrary in this Article 7, the indemnity obligations in this Article 7 shall cease to apply to the extent that a court of competent jurisdiction in a final judgment that has become non-appealable shall have determined that any loss, liability, Claim, damage and expense whatsoever (including reasonable legal fees and expenses) to which a Purchaser Indemnified Party may be deemed subject were caused solely by the negligence, fraud or wilful misconduct of the Purchaser Indemnified Party.
(e) No Purchaser Indemnified Party shall be entitled to conflict claim indemnity in respect of any special, consequential or punitive damages (including damages for loss of profits) except to the extent (i) such special, consequential or punitive damages are awarded in favour of a third party in connection with a third party Claim; or (ii) a Claim is made for any incorrectness in or breach of any representation or warranty of the interests Company set forth in paragraphs (a), (b), (c), (o), (p) or (t) of Schedule B to this Agreement.
(f) Subject to Section 8.8 and except for any Claims arising from negligence, fraud or wilful misconduct of the Indemnifying Party, then the rights to indemnification set forth in this Article 7 shall be the sole and exclusive remedy of the Purchaser Indemnified Parties (including pursuant to any statutory provision, tort or common law) in respect of: (i) any non-fulfilment or breach of any covenant or agreement on the part of the Company contained in this Agreement or in any certificate furnished by or on behalf of the Company pursuant to this Agreement; or (ii) any misrepresentation or any incorrectness in or breach of any representation or warranty of the Company contained in this Agreement or in any certificate furnished by or on behalf of the Company pursuant to this Agreement, but, for greater certainty, shall not be the sole and exclusive remedy under the Investor Rights Agreement or the Commercialization Agreement.
(g) A Purchaser Indemnified Party shall not be entitled to double recovery for any loss even though such loss may have resulted from the right to select a separate counsel and to assume such legal defense and otherwise to participate breach of one or more representations, warranties or covenants in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 4 contracts
Sources: Subscription Agreement (Canopy Growth Corp), Subscription Agreement (Canopy Growth Corp), Subscription Agreement (Constellation Brands, Inc.)
Indemnification Procedure. Promptly As soon as practicable after any Company Related Indemnified Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personPerson, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (ia) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (iib) if (Ai) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (Bii) 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 reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense 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. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 4 contracts
Sources: Securities Purchase Agreement (Spectrum Pharmaceuticals Inc), Securities Purchase Agreement (Inseego Corp.), Securities Purchase Agreement (Inseego Corp.)
Indemnification Procedure. Promptly after any Company Partnership Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personparty, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, include furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, involves no admission of wrongdoing or malfeasance by, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 4 contracts
Sources: Common Unit Purchase Agreement, Common Unit Purchase Agreement (New Source Energy Partners L.P.), Common Unit Purchase Agreement (NGL Energy Partners LP)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party person entitled to indemnification under this Section 7 (hereinafter, the “Indemnified Party”) has received notice of or has knowledge of any indemnifiable claim hereunder, against the Indemnified Party by a person not a party to this Agreement (a “Third Person”) or the commencement of any action, suit action or proceeding by a third personThird Person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party it shall give the indemnitor hereunder other party (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit action or proceeding, but failure to so notify ; provided that no delay on the part of the Indemnified Party in notifying the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party obligation hereunder except unless, and then solely to the extent that that, the Indemnifying Party is materially prejudiced by such failurethereby. Such notice shall state the nature and the basis of such claim to and a reasonable estimate of the extent then knownDamages. The Indemnifying Party shall have the right to defend and settledefend, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Partycounsel, any such matter as so long as the Indemnifying Party pursues the same diligently and in good faithfaith and diligently. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall reasonably cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the in any settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any personnel, books, records and other or information reasonably requested by the Indemnifying Party and that are in the Indemnified Party’s =s possession or control. Such cooperation of Notwithstanding the foregoing, the Indemnified Party shall be have the right to participate in any matter through counsel of its own choosing at the cost its own expense (unless there is a conflict of interest that prevents counsel for the Indemnifying Party from representing the Indemnified Party, in which case the Indemnifying Party will reimburse the Indemnified Party for the expenses of its counsel). After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that . If the Indemnifying Party does not undertake to defend such matter to which the Indemnified Party shall be is entitled (i) at its expenseto indemnification hereunder, or fails to participate in the defense of diligently pursue such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to defense, the Indemnified Party or (B) if may undertake such defense through counsel of its choice, at the defendants in any such action include both the Indemnified Party cost and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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 expense of the Indemnifying Party, then and the Indemnified Party shall have the right to select a separate counsel may settle such matter, and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle reimburse the Indemnified Party for the amount paid in such settlement and any indemnified claim other liabilities or expenses incurred by the Indemnified Party in connection therewith. No party hereto, without the prior written consent of the Indemnified Partyother, shall settle, compromise or consent to the entry of any judgment with respect to any pending or threatened Claim unless the settlement thereof imposes no liability settlement, compromise or obligation on, consent (1) provides for and includes a complete an express, unconditional release of all Indemnified Parties and Indemnifying Parties from liability ofall liabilities, claims, demands, actions and obligations in connection therewith and (2) does not include provide for any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiserelief other than monetary relief.
Appears in 4 contracts
Sources: Rescission Agreement and Mutual Release (Accredited Solutions, Inc.), Merger Agreement (Genesis Electronics Group, Inc.), Plan and Agreement of Merger (Digital Development Partners, Inc.)
Indemnification Procedure. Promptly after any Company Related (a) If a Buyer Indemnified Party or Purchaser Related a Seller Indemnified Party seeks indemnification under this Article X, such party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give written notice to the indemnitor hereunder other party (the “Indemnifying Party”) written notice of such claim the facts and circumstances giving rise to the claim. In that regard, if any Action, Liability or obligation shall be brought or asserted by any third party which, if adversely determined, would entitle the commencement of such actionIndemnified Party to indemnity pursuant to this Article X (a “Third-Party Claim”), suit or proceeding, but failure to so the Indemnified Party shall promptly notify the Indemnifying Party will not relieve the Indemnifying of such Third-Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and Claim in writing, specifying the basis of such claim and the facts pertaining thereto, and the Indemnifying Party, if the Indemnifying Party so elects, shall assume and control the defense thereof (and shall consult with the Indemnified Party with respect thereto), including the employment of counsel reasonably satisfactory to the extent then knownIndemnified Party and the payment of all necessary expenses. The If the Indemnifying Party elects to assume control of the defense of a Third-Party Claim, the Indemnified Party shall have the right to defend and settle, at its own expense and by its own employ counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its separate from counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested employed by the Indemnifying Party in any such action and to participate in the Indemnified Party’s possession or control. Such cooperation defense thereof, but the fees and expenses of such counsel employed by the Indemnified Party shall be at the cost expense of the Indemnifying Party. After Indemnified Party unless (i) the Indemnifying Party has notified been advised by the Indemnified Party Indemnifying Party’s counsel that a reasonable likelihood exists of its intention to undertake to defend or settle any such asserted liability, and for so long as a conflict of interest between the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by and the Indemnified Party in connection with any defense Party, or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or and employ counsel; in which case the fees and expenses of the Indemnified Party’s counsel reasonably acceptable to shall be paid by the Indemnifying Party. All claims other than Third-Party Claims (a “Direct Claim”) may be asserted by the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and giving notice to the Indemnifying Party and counsel to Party. Absent an emergency or other extenuating circumstance, the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or in addition to those available give written notice to the Indemnifying Party or if the interests of such Direct Claim prior to taking any material actions to remedy such Direct Claim.
(b) In no event shall the Indemnified Party reasonably may be deemed pay or enter into any settlement of any claim or consent to conflict any judgment with respect to any Third-Party Claim without the interests prior written consent of the Indemnifying PartyParty (which consent shall not be unreasonably withheld, then the Indemnified Party shall have the right to select a separate counsel and to assume conditioned or delayed) if such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by settlement or judgment would require the Indemnifying Party as incurredto pay any amount. Notwithstanding any other provision of this Agreement, the The Indemnifying Party shall not settle may enter into a settlement or consent to any indemnified claim judgment without the consent of the Indemnified Party, unless Party so long as (i) such settlement or judgment involves monetary damages only and (ii) a term of the settlement thereof imposes no or judgment is that the Person or Persons asserting such Third-Party Claim unconditionally release all Indemnified Parties from all liability or obligation on, and includes a complete release from liability with respect to such claim; otherwise the consent of the Indemnified Party shall be required in order to enter into any settlement of, and does or consent to the entry of a judgment with respect to, any Third-Party Claim, which consent shall not include any admission of wrongdoing be unreasonably withheld, conditioned or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwisedelayed.
Appears in 4 contracts
Sources: Stock Purchase Agreement (1847 Holdings LLC), Stock Purchase Agreement (1847 Holdings LLC), Stock Purchase Agreement (1847 Holdings LLC)
Indemnification Procedure. Promptly after any Company Related (a) If a Buyer Indemnified Party or Purchaser Related a Seller Indemnified Party seeks indemnification under this Article IX, such party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give written notice to the indemnitor hereunder other party (the “Indemnifying Party”) written notice of such claim the facts and circumstances giving rise to the claim. In that regard, if any Action, Liability or obligation shall be brought or asserted by any third party which, if adversely determined, would entitle the commencement of such actionIndemnified Party to indemnity pursuant to this Article IX (a “Third-Party Claim”), suit or proceeding, but failure to so the Indemnified Party shall promptly notify the Indemnifying Party will not relieve the Indemnifying of such Third-Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and Claim in writing, specifying the basis of such claim and the facts pertaining thereto, and the Indemnifying Party, if the Indemnifying Party so elects, shall assume and control the defense thereof (and shall consult with the Indemnified Party with respect thereto), including the employment of counsel reasonably satisfactory to the extent then knownIndemnified Party and the payment of all necessary expenses. The If the Indemnifying Party elects to assume control of the defense of a Third-Party Claim, the Indemnified Party shall have the right to defend and settle, at its own expense and by its own employ counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its separate from counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested employed by the Indemnifying Party in any such action and to participate in the Indemnified Party’s possession or control. Such cooperation defense thereof, but the fees and expenses of such counsel employed by the Indemnified Party shall be at the cost expense of the Indemnifying Party. After Indemnified Party unless (i) the Indemnifying Party has notified been advised by the Indemnified Party Indemnifying Party’s counsel that a reasonable likelihood exists of its intention to undertake to defend or settle any such asserted liability, and for so long as a conflict of interest between the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by and the Indemnified Party in connection with any defense Party, or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or and employ counsel; in which case the fees and expenses of the Indemnified Party’s counsel reasonably acceptable to shall be paid by the Indemnifying Party. All claims other than Third-Party Claims (a “Direct Claim”) may be asserted by the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and giving notice to the Indemnifying Party and counsel to Party. Absent an emergency or other extenuating circumstance, the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or in addition to those available give written notice to the Indemnifying Party or if the interests of such Direct Claim prior to taking any material actions to remedy such Direct Claim.
(b) In no event shall the Indemnified Party reasonably may be deemed pay or enter into any settlement of any claim or consent to conflict any judgment with respect to any Third-Party Claim without the interests prior written consent of the Indemnifying PartyParty (which consent shall not be unreasonably withheld, then the Indemnified Party shall have the right to select a separate counsel and to assume conditioned or delayed) if such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by settlement or judgment would require the Indemnifying Party as incurredto pay any amount. Notwithstanding any other provision of this Agreement, the The Indemnifying Party shall not settle may enter into a settlement or consent to any indemnified claim judgment without the consent of the Indemnified Party, unless Party so long as (i) such settlement or judgment involves monetary damages only and (ii) a term of the settlement thereof imposes no or judgment is that the Person or Persons asserting such Third-Party Claim unconditionally release all Indemnified Parties from all liability or obligation on, and includes a complete release from liability with respect to such claim; otherwise the consent of the Indemnified Party shall be required in order to enter into any settlement of, and does or consent to the entry of a judgment with respect to, any Third-Party Claim, which consent shall not include any admission of wrongdoing be unreasonably withheld, conditioned or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwisedelayed.
Appears in 4 contracts
Sources: Stock Purchase Agreement (1847 Holdings LLC), Stock Purchase Agreement (Victory Oilfield Tech, Inc.), Membership Interest Purchase Agreement (1847 Holdings LLC)
Indemnification Procedure. Promptly after any Company Partnership Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 Article VI are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 4 contracts
Sources: Class B Convertible Preferred Unit Subscription Agreement (Capital Product Partners L.P.), Class B Convertible Preferred Unit Subscription Agreement (Capital Product Partners L.P.), Class B Convertible Preferred Unit Subscription Agreement (Capital Product Partners L.P.)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party party seeking reimbursement (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, hereunder or the commencement of any action, suit action or proceeding by a third personparty, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit action or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel, (such counsel who shall be reasonably acceptable to the Indemnified Party), any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, include furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel with consent of the Indemnifying Party and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified PartyParty (which consent shall not be unreasonably withheld), unless the settlement thereof imposes no liability or obligation on, involves no admission of wrongdoing or malfeasance by, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 4 contracts
Sources: Securities Purchase Agreement (Interoil Corp), Common Share Purchase Agreement (Interoil Corp), Securities Purchase Agreement (Interoil Corp)
Indemnification Procedure. Promptly after any Company Related (a) For the avoidance of doubt, all indemnification claims in respect of a Gilead Indemnitee or a Hookipa Indemnitee shall be made solely by Gilead or Hookipa, respectively.
(b) A Party or Purchaser Related Party seeking indemnification hereunder (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or shall notify the commencement of any action, suit or proceeding by a third person, which the Indemnified other Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice in writing reasonably promptly after the assertion against the Indemnified Party of such any Claim or fact in respect of which the Indemnified Party intends to base a claim for indemnification hereunder (each, an “Indemnification Claim Notice”); provided, that CONFIDENTIAL TREATMENT REQUESTED. INFORMATION FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED IS OMITTED AND MARKED WITH “[***]”. AN UNREDACTED VERSION OF THE DOCUMENT HAS ALSO BEEN FURNISHED SEPARATELY TO THE SECURITIES AND EXCHANGE COMMISSION AS REQUIRED BY RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED. the failure or the commencement of such action, suit or proceeding, but failure delay to so notify the Indemnifying Party will shall not relieve the Indemnifying Party from of any obligation or liability that it may have to such the Indemnified Party hereunder Party, except to the extent that the Indemnifying Party demonstrates that its ability to defend or resolve such Claim is materially prejudiced by such failureadversely affected thereby. Such notice The Indemnification Claim Notice shall state contain a description of the Claim and the nature and amount of the basis of such claim Claim (to the extent then knownthat the nature and amount of such Claim is known at such time). Upon the request of the Indemnifying Party, the Indemnified Party shall furnish promptly to the Indemnifying Party copies of all correspondence, communications and official documents (including court documents) received or sent in respect of such Claim.
(c) Subject to Sections 16.3(d) and 16.3(e), the Indemnifying Party shall have the right, upon written notice given to the Indemnified Party within [***] days after receipt of the Indemnification Claim Notice, to assume the defense and handling of such Claim, at the Indemnifying Party’s sole expense, in which case the provisions of Section 16.3(d) below shall govern; provided, that any such Claim is only for monetary damages. The assumption of the defense of a Claim by the Indemnifying Party shall not be construed as acknowledgement that the Indemnifying Party is liable to indemnify any Indemnitee in respect of the Claim, nor shall it constitute a waiver by the Indemnifying Party of any defenses it may assert against any Indemnified Party’s claim for indemnification. In the event that it is ultimately decided that the Indemnifying Party is not obligated to indemnify or hold an Indemnitee harmless from and against the Claim, the Indemnified Party shall reimburse the Indemnifying Party for any and all reasonable costs and expenses (including reasonable attorneys’ fees and costs of suit) and any losses incurred by the Indemnifying Party in its defense of the Claim. If the Indemnifying Party does not give written notice to the Indemnified Party, within [***] days after receipt of the Indemnification Claim Notice, of the Indemnifying Party’s election to assume the defense and handling of such Claim, the provisions of Section 16.3(e) shall govern.
(d) Upon assumption of the defense of a Claim by the Indemnifying Party: (i) the Indemnifying Party shall have the right to defend and settleshall assume sole control and responsibility for dealing with the Claim; (ii) the Indemnifying Party may, at its own expense cost, appoint as counsel in connection with conducting the defense and handling of such Claim any law firm or counsel reasonably selected by its own counsel who the Indemnifying Party; (iii) the Indemnifying Party shall keep the Indemnified Party informed of the status of such Claim; and (iv) the Indemnifying Party shall have the right to settle the Claim on any terms the Indemnifying Party chooses; provided, however, that it shall not, without the prior written consent of the Indemnified Party (such consent not to be reasonably acceptable unreasonably withheld, conditioned, or delayed), agree to a settlement of any Claim which could lead to liability or create any financial or other obligation on the part of the Indemnified Party for which the Indemnified Party is not entitled to indemnification hereunder or which admits any wrongdoing or responsibility for the claim on behalf of the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the The Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in shall be entitled to participate in, but not control, the defense thereof of such Claim with its own counsel and at its own expense. In particular, the settlement thereofIndemnified Party shall furnish such records, information, and testimony, provide witnesses, and attend such conferences, discovery proceedings, hearings, trials, and appeals as may be reasonably requested in connection therewith. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested include access during normal business hours by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liabilityto, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred reasonable retention by the Indemnified Party in connection with of, records and information that are reasonably relevant to such Claim, and making the Indemnified Party, the Indemnitees and its and their employees and agents available on a mutually convenient basis to provide additional information and explanation of any defense records or settlement of such asserted liability; information provided, however, that .
(e) If the Indemnifying Party does not give written notice to the Indemnified Party shall be entitled (ias set forth in Section 16.3(c) or fails to conduct the defense and handling of any Claim in good faith after having assumed such, the Indemnified Party may, at its the Indemnifying Party’s expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ select counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to in connection with conducting the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense handling of such action, with the expenses Claim and fees of defend or handle such separate counsel and other expenses related to Claim in such participation to be reimbursed by the Indemnifying Party manner as incurredit may deem appropriate. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.In such
Appears in 3 contracts
Sources: Research Collaboration and License Agreement (HOOKIPA Pharma Inc.), Research Collaboration and License Agreement (HOOKIPA Pharma Inc.), Research Collaboration and License Agreement (HOOKIPA Pharma Inc.)
Indemnification Procedure. Promptly after any Company Related When an Indemnifying Party or Purchaser Related is required to indemnify an Indemnified Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by for a third personparty claim, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to shall assume on behalf of such Indemnified Party hereunder except to Party, and conduct with due diligence and in good faith, the extent that defense of any claim against such Indemnified Party, whether or not the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do sojoined therein, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects such defense. The Indemnifying Party will be in charge of the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liabilityclaim; provided, however, that without relieving the Indemnifying Party of its obligations in the Purchase Order or impairing the Indemnifying Party’s right to control the defense or settlement thereof, the Indemnified Party shall be entitled (i) at its expense, may elect to participate through separate counsel in the defense of any such asserted liability claim, but the associated fees and expenses (including attorneys’ fees and legal costs) shall be at the expense of such Indemnified Party. Notwithstanding the foregoing, if (a) the Indemnified Party has reasonably concluded, acting in good faith and on the advice of counsel, that there exists a conflict of interest between the Indemnifying Party and the negotiations Indemnified Party in the conduct of the settlement thereof and defense of such claim or (ii) if (Ab) the Indemnifying Party has failed fails to assume contest the defense or employ counsel reasonably acceptable to claim in good faith by appropriate proceedings within a reasonable time following written demand from the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have may, upon written notice to the right to select a separate counsel Indemnifying Party, assume control of the defense or settlement of the claim and to assume such use its own counsel, the fees and expenses (including reasonable attorneys’ fees and legal defense and otherwise to participate in the defense costs) of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by which the Indemnifying Party as incurredto the Indemnified Party will pay or reimburse. Notwithstanding any other provision of this Agreement, the No Indemnifying Party shall not may settle any indemnified claim such claims or actions in a manner which would require any action or forbearance from action by any Indemnified Party or impose criminal liability on such Indemnified Party without the prior written consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, which consent the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are Party may not exclusive of any remedies that may be available to a party at law unreasonably withhold, condition or in equity or otherwisedelay.
Appears in 3 contracts
Sources: Master Supply Agreement (Crown Electrokinetics Corp.), Master Supply Agreement (Crown Electrokinetics Corp.), Master Supply Agreement (Crown Electrokinetics Corp.)
Indemnification Procedure. Promptly after any Company Partnership Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 3 contracts
Sources: Common Unit Purchase Agreement, Common Unit Purchase Agreement (Inergy L P), Common Unit Purchase Agreement (Penn Virginia Resource Partners L P)
Indemnification Procedure. Promptly after any Company MarkWest Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit action or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit action or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Partycounsel, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or and employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, illegal conduct by the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 3 contracts
Sources: Unit Purchase Agreement (Markwest Energy Partners L P), Unit Purchase Agreement (Markwest Energy Partners L P), Unit Purchase Agreement (Markwest Hydrocarbon Inc)
Indemnification Procedure. (a) Promptly after any Company Related Party or Purchaser Related Party person entitled to indemnification under this Section 5 (hereinafter, the “Indemnified Party”) has received notice of or has knowledge of any indemnifiable claim hereunder, against the Indemnified Party by a person not a party to this Agreement (a “Third Person”) or the commencement of any action, suit action or proceeding by a third personThird Person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party it shall give the indemnitor hereunder other party (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit action or proceeding, but failure to so notify ; provided that no delay on the part of the Indemnified Party in notifying the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party obligation hereunder except unless, and then solely to the extent that that, the Indemnifying Party is materially prejudiced by such failurethereby. Such notice shall state the nature and the basis of such claim to and a reasonable estimate of the extent then known. Damages.
(b) The Indemnifying Party shall have the right to defend and settledefend, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Partycounsel, any such matter as so long as the Indemnifying Party pursues the same diligently and in good faithfaith and diligently. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall reasonably cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the in any settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any personnel, books, records and other or information reasonably requested by the Indemnifying Party and that are in the Indemnified Party’s possession or control. Such cooperation of Notwithstanding the foregoing, the Indemnified Party shall be have the right to participate in any matter through counsel of its own choosing at the cost its own expense (unless there is a conflict of interest that prevents counsel for the Indemnifying Party from representing the Indemnified Party, in which case the Indemnifying Party will reimburse the Indemnified Party for the expenses of its counsel). After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that . If the Indemnifying Party does not undertake to defend such matter to which the Indemnified Party shall be is entitled (i) at its expenseto indemnification hereunder, or fails to participate in the defense of diligently pursue such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to defense, the Indemnified Party or (B) if may undertake such defense through counsel of its choice, at the defendants in any such action include both the Indemnified Party cost and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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 expense of the Indemnifying Party, then and the Indemnified Party shall have the right to select a separate counsel may settle such matter, and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle reimburse the Indemnified Party for the amount paid in such settlement and any indemnified claim other liabilities or expenses incurred by the Indemnified Party in connection therewith. No party hereto, without the prior written consent of the Indemnified Partyother, shall settle, compromise or consent to the entry of any judgment with respect to any pending or threatened Claim unless the settlement thereof imposes no liability settlement, compromise or obligation on, consent (i) provides for and includes a complete an express, unconditional release of all Indemnified Parties and Indemnifying Parties from liability ofall liabilities, claims, demands, actions and obligations in connection therewith and (ii) does not include provide for any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiserelief other than monetary relief.
Appears in 3 contracts
Sources: Asset Purchase Agreement (I Crystal Inc), Asset Purchase Agreement (I Crystal Inc), Asset Purchase Agreement (I Crystal Inc)
Indemnification Procedure. Promptly after any Company Related an Indemnified Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this AgreementAgreement (each a “Third-Party Claim”), the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) Party written notice of such claim or the commencement of such action, suit or proceedingThird-Party Claim, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim Third-Party Claim to the extent then known. The Indemnifying Party shall have the right to defend and settledefend, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith; provided that, notwithstanding anything to the contrary in this Section 8.5, the Indemnifying Party shall not be entitled to assume the defense of any Third-Party Claim (and, to the extent the Indemnifying Party has assumed the defense, shall transfer control of such defense to the Indemnified Party) if (a) such Third-Party Claim seeks equitable relief or such Third-Party Claim involves a criminal action, (b) the Indemnifying Party shall not have assumed the defense of such Third-Party Claim within 10 Business Days of receipt of a notice of such Claim for indemnity or (c) such Third-Party Claim exceeds the Indemnity Cap. If the Indemnifying Party undertakes to defend or settledefend, it shall promptly promptly, and in no event later than 10 Business Days, notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has within ten (10) Business Days after the Indemnified Party provides written notice of a Third-Party Claim, failed (1) to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (2) to notify the Indemnified Party of such assumption or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense 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. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle consent to the settlement of, or the entry of any judgment arising from, any indemnified claim Third-Party Claim without the consent of the Indemnified PartyParty (which consent shall not be unreasonably withheld), unless the settlement thereof thereof, or the entry of any judgment arising therefrom, imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 Article VIII are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 3 contracts
Sources: Series B Convertible Preferred Stock Purchase Agreement (Comscore, Inc.), Series B Convertible Preferred Stock Purchase Agreement (Comscore, Inc.), Series B Convertible Preferred Stock Purchase Agreement (Comscore, Inc.)
Indemnification Procedure. Promptly after any Company Related The indemnification obligations under Sections 17.1 and 17.2 are conditioned upon the Party or Purchaser Related Party entitled to indemnification hereunder (hereinafter, the an “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or promptly notifying in writing the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor required to provide indemnification hereunder (the “Indemnifying Party”) written notice after learning of such claim or any Losses subject to indemnity hereunder; provided that the commencement of such action, suit or proceeding, but failure to so promptly notify the Indemnifying Party will shall not relieve limit or impair the Indemnifying Party from any liability it may have Indemnified Party’s right to such Indemnified Party defense and indemnification hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then knownthereby. The Indemnifying Party shall have the right to defend may, in its sole discretion and settle, at its own expense and by expense, assume control of the defense of such claim with counsel reasonably acceptable to the Indemnified Party. The Indemnified Party shall cooperate in all reasonable respects with the Indemnifying Party, subject to the Indemnifying Party’s reimbursement of the Indemnified Party’s reasonably incurred out-of-pocket expenses in so doing. For any claim subject to indemnification under Sections 17.1 or 17.2, the Indemnified Party may choose to be separately represented at its own counsel who expense; provided that (i) the Indemnified Party shall be entitled to be separately represented at the Indemnifying Party’s expense if in the reasonable opinion of counsel to the Indemnified Party, a conflict or potential conflict exists between the Indemnified Party and the Indemnifying Party that would make such separate representation advisable and (ii) if the Indemnifying Party has not acknowledged its obligation to defend such claim or does not diligently defend the Indemnified Party with counsel reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreementretain counsel, the cost of which shall be subject to the indemnification provisions of Section 17.1 or Section 17.2, as applicable. The Indemnifying Party shall not settle any indemnified claim without not, except with the consent of the Indemnified PartyParty (which shall not be unreasonably withheld, unless the delayed or conditioned), enter into any settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and (a) that does not include any admission as a term thereof the giving by the person asserting such claim to all Indemnified Parties of wrongdoing a release from all liability with respect to such claim or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive consent to entry of any remedies judgment or (b) that may be available provides for any relief other than the payment of monetary Losses subject to a party at law or in equity or otherwisethe right to indemnity therefor pursuant to this Agreement.
Appears in 3 contracts
Sources: Pharmacy Operating Agreement (Target Corp), Pharmacy Operating Agreement (Target Corp), Pharmacy Operating Agreement (Target Corp)
Indemnification Procedure. Promptly after any Company BreitBurn Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which person that the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a one separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, involves no admission of wrongdoing or malfeasance by, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 3 contracts
Sources: Unit Purchase Agreement (BreitBurn Energy Partners L.P.), Unit Purchase Agreement (BreitBurn Energy Partners L.P.), Unit Purchase Agreement (BreitBurn Energy Partners L.P.)
Indemnification Procedure. Promptly after any Company Related If either Party is seeking indemnification under Section 12.1 (Indemnification by Qorvo), Section 12.2 (Indemnification by Zomedica) or Purchaser Related Party Section 12.3 (hereinafter, Indemnification for Infringement) (the “Indemnified Party”) has received notice of any indemnifiable claim hereunder), or it will inform the commencement of any action, suit or proceeding by a third person, which the Indemnified other Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) of the Third Party Claim giving rise to such indemnification obligations within 15 days after receiving written notice of the Third Party Claim (it being understood and agreed, however, that the failure or delay by an Indemnified Party to give such claim or the commencement notice of such action, suit or proceeding, but failure to so notify a Third Party Claim will not affect the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party Party’s indemnification obligations hereunder except to the extent that the Indemnifying Party is will have been actually and materially prejudiced by such failure. Such notice shall state the nature and the basis as a result of such claim failure or delay to the extent then knowngive notice). The Indemnifying Party shall will have the right to defend assume the defense of any such Third Party Claim for which it is obligated to indemnify the Indemnified Party. The Indemnified Party will cooperate with the Indemnifying Party and settlethe Indemnifying Party’s insurer as the Indemnifying Party may reasonably request, and at the Indemnifying Party’s cost and expense. The Indemnified Party will have the right to participate, at its own expense and by its own with counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do sochoice, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying of any Third Party with any books, records and other information reasonably requested that has been assumed by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After Neither Party will have the Indemnifying Party has notified obligation to indemnify the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified other Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) made without the Indemnifying Party has failed to assume the defense Party’s written consent, which consent will not be unreasonably withheld, conditioned, or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the delayed. The Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or in addition to those available to the Indemnifying Party or if the interests will not admit liability of the Indemnified Party reasonably may without the Indemnified Party’s prior written consent, which consent will not be deemed unreasonably withheld, conditioned, or delayed. If the Parties cannot agree as to conflict with the interests application of the Indemnifying PartySection 12.1 (Indemnification by Qorvo) or Section 12.2 (Indemnification by Zomedica) as to any Third Party Claim, then the Indemnified Parties may conduct separate defenses of such Third Party shall have Claims, with each Party retaining the right to select a separate counsel and to assume such legal defense and otherwise to participate claim indemnification from the other Party in the defense of such actionaccordance with Section 12.1 (Indemnification by Qorvo) or Section 12.2 (Indemnification by Zomedica), with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreementapplicable, the Indemnifying Party shall not settle any indemnified claim without the consent upon resolution of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiseunderlying Third Party Claim.
Appears in 3 contracts
Sources: Development and Supply Agreement, Development and Supply Agreement (Zomedica Pharmaceuticals Corp.), Development and Supply Agreement (Zomedica Pharmaceuticals Corp.)
Indemnification Procedure. Promptly after Each Party, as an indemnifying party (an “Indemnifying Party”), shall not be permitted to settle or compromise any Company Related claim or action giving rise to Third Party Liabilities in a manner (i) that imposes any restrictions or Purchaser Related Party obligations on the indemnified party (hereinafter, the an “Indemnified Party”) or, if Licensee is the Indemnifying Party, on Licensor’s licensors under the Existing Licenses, without the other Party’s prior written consent, (ii) if Licensee is the Indemnifying Party, that grants any rights to the Licensed Technology or Licensed Products other than those Licensee has received notice of any indemnifiable claim hereunderthe right to grant under this Agreement without Licensor’s prior written consent, or (iii) if Licensor is the commencement of Indemnifying Party, that grants any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim rights that are inconsistent with those granted to Licensee under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) Agreement without Licensee’s prior written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then knownconsent. The Indemnifying Party shall have be permitted to control any ****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. litigation or potential litigation involving the right defense of any claim subject to defend and settleindemnification pursuant to this Section 8.4, at its own expense and by its own counsel who shall be reasonably acceptable to including the selection of counsel, with the reasonable approval of the Indemnified Party, . If an Indemnifying Party fails or declines to assume the defense of any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend claim or settleaction within **** after notice thereof, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in may assume the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession of such claim or control. Such cooperation of the Indemnified Party shall be action at the cost and risk of the Indemnifying Party, and any Third Party Liabilities related thereto shall be conclusively deemed a Third Party Liability of the Indemnifying Party. After the Indemnifying Party has notified the The indemnification rights of a Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party contained in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that this Agreement are different from or in addition to those available to the Indemnifying Party or if the interests of the all other rights which such Indemnified Party reasonably may be deemed to conflict with the interests of the Indemnifying Party, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise. The Indemnifying Party will pay directly all Third Party Liabilities incurred for defense or negotiation of any claim hereunder or will reimburse the Indemnified Party for all documented Third Party Liabilities incident to the defense or negotiation of any such claim within **** after the Indemnifying Party’s receipt of invoices for such fees, expenses, and charges.
Appears in 3 contracts
Sources: Option and License Agreement (REGENXBIO Inc.), Option and License Agreement (REGENXBIO Inc.), Option and License Agreement (REGENXBIO Inc.)
Indemnification Procedure. Promptly after any Company Constellation Energy Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit action or proceeding by a third personparty, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit action or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, include furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, involves no admission of wrongdoing or malfeasance by, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided , nor shall the Indemnified Party settle any claim for in this Section 6 are cumulative and are not exclusive of any remedies that which indemnification may be available claimed hereunder without at least three business days notice to a party at law or in equity or otherwisethe Indemnifying Party of the terms and conditions of such settlement.
Appears in 3 contracts
Sources: Common Unit Purchase Agreement (Constellation Energy Partners LLC), Class F Unit and Common Unit Purchase Agreement (Constellation Energy Partners LLC), Class E Unit and Common Unit Purchase Agreement (Constellation Energy Partners LLC)
Indemnification Procedure. Promptly after any Company MarkWest Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit action or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit action or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Partycounsel, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or and employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 3 contracts
Sources: Unit Purchase Agreement, Unit Purchase Agreement (Markwest Hydrocarbon Inc), Unit Purchase Agreement (Markwest Energy Partners L P)
Indemnification Procedure. Promptly after any Company Related Investor Indemnified Party or Purchaser Related Party Company Indemnified Party, as applicable (hereinafter, the “Indemnified Party”) ), has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personPerson, which the such Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the such Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faithfaith and makes an unqualified acknowledgment in writing of its obligation to provide indemnification to the Indemnified Party with respect to such matter. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, include furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (ia) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (iib) if (Ai) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (Bii) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 3 contracts
Sources: Securities Purchase Agreement (Birner Dental Management Services Inc), Securities Purchase Agreement (Lonestar Resources US Inc.), Follow on Securities Purchase Agreement (Birner Dental Management Services Inc)
Indemnification Procedure. Promptly after any Company Partnership Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personparty, which the Indemnified Party believes in good faith is an indemnifiable claim under this AgreementAgreement (each a “Third Party Claim”), the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, include furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) entitled, at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurredthereof. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, involves no admission of wrongdoing or malfeasance by, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 3 contracts
Sources: Class a Convertible Preferred Unit Purchase Agreement (Gainsco Inc), Convertible Preferred Unit Purchase Agreement (Goff John C), Class a Convertible Preferred Unit Purchase Agreement (Mid-Con Energy Partners, LP)
Indemnification Procedure. Promptly after any Company Related If an Indemnified Party or Purchaser Related asserts that an Indemnifying Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunderbecome obligated to indemnify pursuant to this Section 7, or the commencement if any third-Person Action is begun, made or instituted as a result of any action, suit or proceeding by a third person, which the Indemnifying Party may become obligated to an Indemnified Party believes in good faith is an indemnifiable claim under this Agreementhereunder, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or to the commencement of such action, suit or proceeding, Indemnifying Party within a sufficiently prompt time to avoid prejudice to the Indemnifying Party (but the failure to so promptly notify the Indemnifying Party will shall not relieve the Indemnifying Party from any liability it may have its obligation to such indemnify the Indemnified Party hereunder except hereto to the extent that it is not actually prejudiced thereby), specifying in reasonable detail the facts upon which the claimed right to indemnification is based. The Indemnifying Party is materially prejudiced by such failure. Such notice shall state shall, at its own cost, contest and defend any third-Person Action against the nature and the basis of such claim to the extent then knownIndemnified Party. The Indemnifying Party shall have not consent to the right entry of any judgment or enter into any settlement of any third-Person Action without the consent, not to defend be unreasonably withheld or delayed, of the Indemnified Party if such judgment or settlement (a) does not include as an unconditional term thereof the giving by each claimant or plaintiff to the Indemnified Party (and settleany applicable Affiliate thereof) of an unconditional and irrevocable release from all Liability in respect to such claim, at (b) would result in the finding or admission of any violation of applicable Law by the Indemnified Party or its own expense and Affiliates or (c) provides for injunctive or other non-monetary relief affecting the Indemnified Party or its Affiliates. Any payment to be made by its own counsel who an Indemnifying Party to an Indemnified Party shall be reasonably acceptable made within thirty (30) days of (i) the Indemnified Party’s delivery of notice of a claim for indemnification, such claim being uncontested by the Indemnifying Party within the thirty (30) day period, or (ii) in the event that the Indemnifying Party contests the claim pursuant to the dispute resolution procedures set forth in Section 10 hereof and the dispute is resolved in favor of the Indemnified Party, any the date of final determination of the amount to be indemnified under such matter as long as the Indemnifying Party pursues the same diligently and in good faithclaim. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the The Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall may not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as third-Person Action itself without the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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 consent of the Indemnifying Party, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation not to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability unreasonably withheld or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwisedelayed.
Appears in 3 contracts
Sources: Shared Services Agreement (Cryptyde, Inc.), Shared Services Agreement, Shared Services Agreement (Allscripts-Misys Healthcare Solutions, Inc.)
Indemnification Procedure. Promptly after any Company Related 13.3.1 Any Lilly Indemnified Party or Purchaser Related Zymeworks Indemnified Party seeking indemnification hereunder (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or shall notify the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith against whom indemnification is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder sought (the “Indemnifying Party”) written notice in writing reasonably promptly after the assertion against the Indemnified Party of such any Claim in respect of which the Indemnified Party intends to base a claim or the commencement of such action, suit or proceedingfor indemnification hereunder, but the failure or delay so to so notify the Indemnifying Party will shall not relieve the Indemnifying Party from of any obligation or liability that it may have to such the Indemnified Party hereunder except to the extent that the Indemnifying Party demonstrates that its ability to defend or resolve such Claim is materially prejudiced by adversely affected thereby.
13.3.2 Subject to the provisions of Section 13.3.3 below, the Indemnifying Party shall have the right, upon providing notice to the Indemnified Party of its intent to do so within […***…] days after receipt of the notice from the Indemnified Party of any Claim, to assume the defense and handling of such failure. Such notice Claim, at the Indemnifying Party’s sole expense.
13.3.3 The Indemnifying Party shall state select competent counsel in connection with conducting the nature defense and handling of such Claim, and the basis Indemnifying Party shall defend or handle the same in consultation with the Indemnified Party, and shall keep the Indemnified Party timely apprised of the status of such claim to the extent then knownClaim. The Indemnifying Party shall have not, without the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to prior written consent of the Indemnified Party, agree to a settlement of any such matter as long as Claim which could lead to liability or create any financial or other obligation on the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify part of the Indemnified Party for which the Indemnified Party is not entitled to indemnification hereunder, or would involve any admission of its intention to do so, and wrongdoing on the part of the Indemnified Party. The Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall includeParty, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost request and expense of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense and handling of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or in addition to those available to the Indemnifying Party or if the interests of the Indemnified Party reasonably may be deemed to conflict Claim with the interests of the Indemnifying Party, then the Indemnified Party shall have the right to select a separate its own counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiseits own expense.
Appears in 3 contracts
Sources: Licensing and Collaboration Agreement (Zymeworks Inc.), Licensing and Collaboration Agreement (Zymeworks Inc.), Licensing and Collaboration Agreement (Zymeworks Inc.)
Indemnification Procedure. Promptly after any Company Related Party (a) The party or Purchaser Related Party (hereinafter, parties being indemnified are referred to herein as the “Indemnified Party”) has received notice ” and the indemnifying party is referred to herein as the “Indemnifying Party.” In the event that any party shall incur or suffer any Losses in respect of any indemnifiable claim which indemnification may be sought by such party hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder assert a claim for indemnification by written notice (the “Indemnifying PartyIndemnification Notice”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will stating the nature and basis of such claim. In the case of Losses arising by reason of any third party claim, the Indemnification Notice shall be given within thirty (30) days of the filing or other written assertion of any such claim against the Indemnified Party, but the failure of the Indemnified Party to give the Indemnification Notice within such time period shall not relieve the Indemnifying Party from of any liability it that the Indemnifying Party may have to such the Indemnified Party hereunder Party, except to the extent that the Indemnifying Party is materially demonstrates that the defense of such action has been prejudiced by the Indemnified Party’s failure to give such failure. Such notice shall state Indemnification Notice.
(b) In the nature and case of third party claims for which indemnification is sought, the basis of such claim to the extent then known. The Indemnifying Party shall have the right option (i) to conduct any proceedings or negotiations in connection therewith, (ii) to take all other steps to settle or defend any such claim (provided that the Indemnifying Party shall not settle any such claim without the consent of the Indemnified Party (which consent shall not be unreasonably withheld or delayed)), and settle(iii) to employ counsel (reasonably satisfactory to the Indemnified Party) to contest any such claim or liability in the name of the Indemnified Party or otherwise. In any event, the Indemnified Party shall be entitled to participate at its own expense and by its own counsel who shall be reasonably acceptable in any proceedings relating to the Indemnified Party, any such matter as long as the third party claim. The Indemnifying Party pursues shall, within twenty (20) days of receipt of the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settleIndemnification Notice, it shall promptly notify the Indemnified Party of its intention to do soassume the defense of such claim. If (i) the Indemnifying Party shall decline to assume the defense of any such claim, and (ii) the Indemnifying Party shall fail to notify the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation within twenty (20) days after receipt of the Indemnified Party shall be at the cost Indemnification Notice of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake ’s election to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party claim or (Biii) 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 reasonable defenses available to the Indemnified Party that it which are different from or in addition to those available to the Indemnifying Party or if a conflict exists between the interests of Indemnifying Party and the Indemnified Party reasonably may be deemed to conflict with the interests of the Indemnifying Party, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate (in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, which case the Indemnifying Party shall not have the right to direct the defense of such action on behalf of the Indemnified Party), the Indemnified Party shall defend against such claim and the Indemnified Party may settle any indemnified such claim without the consent of the Indemnifying Party, and the Indemnifying Party may not challenge the reasonableness of any such settlement. The expenses of all proceedings, contests or lawsuits in respect of such claims shall be borne and paid by the Indemnifying Party (up to a limit of one counsel in the case of attorneys’ fees) and the Indemnifying Party shall pay the Indemnified Party, unless in immediately available funds, as such Losses are incurred upon receipt of supporting documentation thereof. Regardless of which party shall assume the settlement defense of the claim, the parties agree to cooperate fully with one another in connection therewith. In the event that any Losses incurred by the Indemnified Party do not involve payment by the Indemnified Party of a third party claim, then, the Indemnifying Party shall pay, within ten (10) days after agreement on the amount of Losses or the occurrence of a determination of such amount payable, to the Indemnified Party, in immediately available funds, the amount of such Losses. Anything in this Section 5.3 to the contrary notwithstanding, the Indemnifying Party shall not, without the Indemnified Party’s prior written consent, settle or compromise any pending or threatened claim, action or proceeding or consent to entry of any judgment in respect thereof which imposes no liability any future obligation on the Indemnified Party, or obligation onwhich does not include, and includes as an unconditional term thereof, the giving by the claimant or plaintiff to the Indemnified Party, a complete release from all liability ofin respect of such claim, action or proceeding and which does not include any a statement as to or admission of wrongdoing fault, culpability or malfeasance by, the failure to act by or on behalf of any Indemnified Party. .
(c) The remedies provided for in this Section 6 are cumulative and are Article V shall not be exclusive of any other rights or remedies that may be available to a one party against the other, either at law or in equity equity.
(d) (A) In the event that an Indemnified Party is requested or otherwiserequired to appear as a witness in any action arising from transactions contemplated by the Transaction Documents brought by or on behalf of or against the Adviser, the Fund or any of their affiliates in which such Indemnified Party is not named as a defendant, the Adviser agrees to reimburse the Warranty Provider for all reasonable expenses incurred by it in connection with such Indemnified Party’s appearing and preparing to appear as such a witness, including, without limitation, the reasonable fees and disbursements of its legal counsel, and to compensate the Warranty Provider in an amount to be mutually agreed upon. (B) In the event that an Indemnified Party is requested or required to appear as a witness in any action arising from transactions contemplated by the Transaction Documents brought by or on behalf of or against the Warranty Provider or any of its affiliates in which such Indemnified Party is not named as a defendant, the Warranty Provider agrees to reimburse the Adviser or the Fund, as applicable, for all reasonable expenses incurred by it in connection with such Indemnified Party’s appearing and preparing to appear as such a witness, including, without limitation, the reasonable fees and disbursements of its legal counsel, and to compensate the Adviser or the Fund, as applicable, in an amount to be mutually agreed upon.
Appears in 3 contracts
Sources: Financial Warranty Agreement (DWS Target Fund), Financial Warranty Agreement (DWS Target Fund), Financial Warranty Agreement (DWS Target Fund)
Indemnification Procedure. Promptly after Each Party, as an indemnifying party (an “Indemnifying Party”), shall not be permitted to settle or compromise any Company Related claim or action giving rise to Third Party Liabilities in a manner (i) that imposes any restrictions or Purchaser Related Party obligations on the indemnified party (hereinafter, the an “Indemnified Party”) or, if Licensee is the Indemnifying Party, on Licensor’s licensors under the Existing Licenses, without the other Party’s prior written consent, (ii) if Licensee is the Indemnifying Party, that grants any rights to the Licensed Technology or Licensed Products other than those Licensee has received notice of any indemnifiable claim hereunderthe right to grant under this Agreement without Licensor’s prior written consent, or (iii) if Licensor is the commencement of Indemnifying Party, that grants any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim rights that are inconsistent with those granted to Licensee under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) Agreement without ****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. Licensee’s prior written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then knownconsent. The Indemnifying Party shall have be permitted to control any litigation or potential litigation involving the right defense of any claim subject to defend and settleindemnification pursuant to this Section 8.4, at its own expense and by its own counsel who shall be reasonably acceptable to including the selection of counsel, with the reasonable approval of the Indemnified Party, . If an Indemnifying Party fails or declines to assume the defense of any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend claim or settleaction within **** after notice thereof, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in may assume the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession of such claim or control. Such cooperation of the Indemnified Party shall be action at the cost and risk of the Indemnifying Party, and any Third Party Liabilities related thereto shall be conclusively deemed a Third Party Liability of the Indemnifying Party. After the Indemnifying Party has notified the The indemnification rights of a Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party contained in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that this Agreement are different from or in addition to those available to the Indemnifying Party or if the interests of the all other rights which such Indemnified Party reasonably may be deemed to conflict with the interests of the Indemnifying Party, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise. The Indemnifying Party will pay directly all Third Party Liabilities incurred for defense or negotiation of any claim hereunder or will reimburse the Indemnified Party for all documented Third Party Liabilities incident to the defense or negotiation of any such claim within **** after the Indemnifying Party’s receipt of invoices for such fees, expenses, and charges.
Appears in 3 contracts
Sources: License Agreement (REGENXBIO Inc.), License Agreement (REGENXBIO Inc.), License Agreement (REGENXBIO Inc.)
Indemnification Procedure. Promptly after any Company Related Investor Indemnified Party or Purchaser Related Company Indemnified Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personPerson, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (ia) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (iib) if (Ai) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (Bii) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 3 contracts
Sources: Securities Purchase Agreement (Rafael Holdings, Inc.), Securities Purchase Agreement (Selecta Biosciences Inc), Securities Purchase Agreement (Selecta Biosciences Inc)
Indemnification Procedure. Promptly after (a) If any Company Related Buyer Indemnified Party or Purchaser Related Seller Indemnified Party (hereinaftercollectively, the “Indemnified PartyParties”) has received intends to seek indemnification pursuant to this Article VI, such Indemnified Party shall promptly notify Seller, if the Indemnified Party is a Buyer Indemnified Party (the “Seller Indemnifying Parties”), or Buyer, if the Indemnified Party is a Seller Indemnified Party (the “Buyer Indemnifying Parties” and, together with Seller Indemnifying Parties, the “Indemnifying Parties”), in writing of such claim with reasonable particularity. The Indemnified Party will provide the Indemnifying Parties with prompt notice of any indemnifiable third party claim hereunder, or the commencement in respect of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith indemnification is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but sought. The failure to so notify the Indemnifying Party provide such notice will not relieve the Indemnifying Party from affect any liability it may have to such Indemnified Party rights hereunder except to the extent that the Indemnifying Party is Parties are materially prejudiced thereby.
(b) If such claim involves a claim by such failure. Such notice shall state a third party against the nature and Indemnified Parties, the basis Indemnifying Parties may, within thirty (30) calendar days after receipt of such claim to the extent then known. The Indemnifying Party shall have the right to defend notice and settle, at its own expense and by its own counsel who shall be reasonably acceptable upon notice to the Indemnified Parties, assume, through counsel of their own choosing and at their own expense, the settlement or defense thereof, and the Indemnified Parties shall reasonably cooperate with them in connection therewith. In the event the Indemnifying Parties elect to assume the settlement or defense of such third party claim, the Indemnified Parties shall be permitted to participate in such settlement or defense through one counsel chosen (and one local counsel in any applicable jurisdiction) by them, the expense of which will be the obligation of the Indemnified Parties; unless an Indemnified Party is a named party to such action or suit and the Indemnified Parties have reasonably determined that there may be a conflict of interest between the Indemnifying Parties and such Indemnified Party, then the Indemnifying Parties shall pay the reasonable fees and expenses of one counsel chosen (and one local counsel in any applicable jurisdiction) by the Indemnified Parties. Notwithstanding anything in this Section 6.03 to the contrary, no Indemnifying Party may, without the prior written consent of the Indemnified Parties, such matter as consent not to be unreasonably withheld, settle or compromise any action or consent to the entry of any judgment, unless the terms of such settlement release the Indemnified Parties from any and all liability with respect to such action or suit and do not contain any admission of liability or culpability of the Indemnified Parties. So long as the Indemnifying Party pursues the same diligently and Parties are contesting any such claim in good faith, the Indemnified Parties shall not pay or settle any such claim without the Indemnifying Parties’ Consent, which Consent shall not to be unreasonably withheld or delayed. If the Indemnifying Party undertakes Parties do not give notice within a reasonable time that they elect to defend assume the settlement or settledefense of such claim or suit, it shall promptly notify then the Indemnified Party Parties may conduct and control, through counsel of its intention to do sotheir own choosing and at the expense of the Indemnifying Parties, the settlement or defense thereof, and the Indemnified Party Indemnifying Parties shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party it in connection with any defense or settlement of such asserted liabilitytherewith; provided, however, that the Indemnified Party shall be entitled (i) the Indemnified Parties shall not consent to the entry of any judgment or to any settlement of such claim without the prior written consent of the Indemnifying Parties, not to be unreasonably withheld or delayed; and (ii) the Indemnifying Parties shall have the right at its expense, any point to participate in the defense Indemnified Parties’ defense, to attend meetings and conferences, and to review such information and documents in the Indemnified Parties’ possession as they may reasonably request concerning such action or suit except where such participation, attendance or review would (x) void any claim of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the privilege by an Indemnified Party or (By) if the defendants in materially impair any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense or claim of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the an Indemnified Party. The remedies provided for in this Section 6 are cumulative and are failure of the Indemnified Parties to participate in, conduct or control such defense shall not exclusive relieve the Indemnifying Parties of any remedies that obligation they may be available to a party at law or in equity or otherwisehave hereunder.
Appears in 3 contracts
Sources: Asset Purchase Agreement, Asset Purchase Agreement (Vishay Intertechnology Inc), Asset Purchase Agreement (Kemet Corp)
Indemnification Procedure. Promptly after any Company Related Indemnified Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personPerson, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, include furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (ia) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (iib) if (Ai) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (Bii) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 3 contracts
Sources: Stock Purchase Agreement (Usa Technologies Inc), Stock Purchase Agreement (Usa Technologies Inc), Stock Purchase Agreement (Halcon Resources Corp)
Indemnification Procedure. Promptly after any Company Enterprise Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 3 contracts
Sources: Common Unit Purchase Agreement (Enterprise Products Partners L P), Common Unit Purchase Agreement (Williams Randa Duncan), Ete Common Unit Purchase Agreement (Williams Randa Duncan)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related If either Party (hereinafter, the “Indemnified Party”) has received notice becomes aware of any indemnifiable matter which may give rise to a claim hereunder, or for indemnification (“Indemnification Claim”) against the commencement of any action, suit or proceeding by a third person, which the Indemnified other Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or ), the commencement of such action, suit or proceeding, but failure to so Indemnified Party shall promptly notify the Indemnifying Party will not in writing; provided, however, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any liability it may have to such Indemnified Party obligation hereunder except unless (and then solely to the extent that extent) the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then knownthereby. The Indemnifying Party shall will have the right to defend assume the defense of the third-party claim with counsel reasonably satisfactory to the Indemnified Party to represent the Indemnified Party in such proceeding, and settleshall pay the fees and disbursements of such counsel related to such proceeding, so long as (i) the Indemnifying Party notifies the Indemnified Party in writing within thirty (30) days after the Indemnified Party has given notice of the indemnification claim that the Indemnifying Party will indemnify the Indemnified Party in accordance with this Section, and (ii) the Indemnifying Party conducts the defense of the third-party claim actively and diligently. The Indemnified Party also may retain its own separate co-counsel at its own sole cost and expense and by its own counsel who shall be reasonably acceptable to participate in the defense of the claim. 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 matter as long as Indemnified Party (i) if such settlement involves any form of relief other than the Indemnifying Party pursues payment of money or any finding or admission of any violation of any law, regulation or order or any of the same diligently and in good faith. If the Indemnifying Party undertakes to defend rights of any person or settle, it shall promptly notify has any adverse effect on any other indemnification claims that have been or may be made against the Indemnified Party or (ii) if such settlement involves only the payment of its intention to do somoney, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation unless it includes an unconditional release of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the such Indemnified Party of its intention to undertake to defend or settle any all liability on claims that are the subject of such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the proceeding. The Indemnifying Party shall not be liable for any additional legal expenses incurred by settlement of any proceeding effected without its written consent, but if settled with such consent or if there is a final judgment for the plaintiff, the Indemnifying Party agrees to indemnify the Indemnified Party in connection with from and against any defense or settlement Loss by reason of such asserted liability; provided, however, that the settlement or judgment. The Indemnified Party shall be entitled (i) at its expense, to participate in may assume control of the defense of such asserted liability and the negotiations of the settlement thereof and (ii) any claim if (A) the Indemnifying Party has failed fails to assume the defense or employ counsel reasonably acceptable provide reasonable assurance to the Indemnified Party of its financial capacity to defend or provide indemnification with respect to such claim, (B) if the defendants in any such action include both the Indemnified Party determines in good faith that there is a reasonable likelihood that an indemnification claim would materially and adversely affect it or any other indemnitees other than as a result of monetary damages that would be fully reimbursed by an Indemnifying Party under this Agreement, or (C) the Indemnifying Party and counsel refuses or fails to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to timely assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiseindemnification claim.
Appears in 3 contracts
Sources: Deposit Processing Services Agreement (Higher One Holdings, Inc.), Deposit Processing Services Agreement (Higher One Holdings, Inc.), Deposit Processing Services Agreement (Higher One Holdings, Inc.)
Indemnification Procedure. Promptly after any Company Related 13.3.1 Any Lilly Indemnified Party or Purchaser Related AbCellera Indemnified Party seeking indemnification hereunder (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or shall notify the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith against whom indemnification is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder sought (the “Indemnifying Party”) written notice in writing reasonably promptly after the assertion against the Indemnified Party of such any Claim in respect of which the Indemnified Party intends to base a claim or the commencement of such action, suit or proceedingfor indemnification hereunder, but the failure or delay so to so notify the Indemnifying Party will shall not relieve the Indemnifying Party from of any obligation or liability that it may have to such the Indemnified Party hereunder except to the extent that the Indemnifying Party demonstrates that its ability to defend or resolve such Claim is materially prejudiced by adversely affected thereby.
13.3.2 Subject to the provisions of Section 13.3.3 below, the Indemnifying Party shall have the right, upon providing notice to the Indemnified Party of its intent to do so within thirty (30) days after receipt of the notice from the Indemnified Party of any Claim, to assume the defense and handling of such failure. Such notice Claim, at the Indemnifying Party’s sole expense.
13.3.3 The Indemnifying Party shall state select competent counsel in connection with conducting the nature defense and handling of such Claim, and the basis Indemnifying Party shall defend or handle the same in consultation with the Indemnified Party, and shall keep the Indemnified Party timely apprised of the status of such claim to the extent then knownClaim. The Indemnifying Party shall have not, without the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to prior written consent of the Indemnified Party, agree to a settlement of any such matter as long as Claim which could lead to liability or create any financial or other obligation on the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify part of the Indemnified Party for which the Indemnified Party is not entitled to indemnification hereunder, or would involve any admission of its intention to do so, and wrongdoing on the part of the Indemnified Party. The Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall includeParty, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost request and expense of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense and handling of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or in addition to those available to the Indemnifying Party or if the interests of the Indemnified Party reasonably may be deemed to conflict Claim with the interests of the Indemnifying Party, then the Indemnified Party shall have the right to select a separate its own counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiseits own expense.
Appears in 3 contracts
Sources: Research Collaboration and License Agreement, Research Collaboration and License Agreement (AbCellera Biologics Inc.), Research Collaboration and License Agreement (AbCellera Biologics Inc.)
Indemnification Procedure. Promptly (a) Within a reasonable period of time after the incurrence of any Company Related Party or Purchaser Related Party Losses by any Person entitled to indemnification pursuant to Section 11.2 hereof (hereinafter, the an “Indemnified Party”) has received notice of ), including, any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personparty described in Section 11.4, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreementmight give rise to indemnification hereunder, the Indemnified Party shall give deliver to the indemnitor hereunder party from which indemnification is sought (the “Indemnifying Party”) written notice of such claim and to the Escrow Agent, if applicable, a certificate (the “Claim Certificate”), which shall:
(i) state that the Indemnified Party has paid or the commencement of such action, suit properly accrued Losses or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability anticipates that it may have to incur liability for Losses for which such Indemnified Party hereunder except believes it is entitled to indemnification pursuant to this Agreement; and
(ii) specify in reasonable detail (to the extent practicable) each individual item of Loss included in the amount so stated, the date such item was paid or properly accrued, the basis for any anticipated liability and the nature of the misrepresentation, breach of warranty, breach of covenant or claim to which each such item is related and the computation of the amount to which such Indemnified Party claims to be entitled hereunder.
(b) In the event that the Indemnifying Party is materially prejudiced shall object to the indemnification of an Indemnified Party in respect of any claim or claims specified in any Claim Certificate, the Indemnifying Party shall, within ten (10) days after receipt by the Indemnifying Party of such failure. Such Claim Certificate, deliver to the Indemnified Party a notice shall state the nature to such effect and the basis Indemnifying Party and the Indemnified Party shall, within the thirty (30) day period beginning on the date of receipt by the Indemnified Party of such claim objection, attempt in good faith to agree upon the extent then known. The rights of the respective parties with respect to each of such claims to which the Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faithso objected. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel shall succeed in reaching agreement on their respective rights with respect to any of such claims, the Indemnified Party and the Indemnifying Party shall have concluded that there may be reasonable defenses available to promptly prepare and sign a memorandum setting forth such agreement. Should the Indemnified Party that are different from or in addition to those available to and the Indemnifying Party be unable to agree as to any particular item or if the interests of items or amount or amounts, then the Indemnified Party reasonably may and the Indemnifying Party shall submit such dispute to a court of competent jurisdiction. The party which receives a final judgment in such dispute shall be deemed indemnified and held harmless for all reasonable attorney and consultant’s fees or expenses by the other party.
(c) Claims for Losses specified in any Claim Certificate to conflict which an Indemnifying Party shall not object in writing within ten (10) days of receipt of such Claim Certificate, claims for Losses covered by a memorandum of agreement of the nature described in Section 11.3(b), claims for Losses the validity and amount of which have been the subject of judicial determination as described in Section 11.3(b) and claims for Losses the validity and amount of which shall have been the subject of a final judicial determination, or shall have been settled with the interests consent of the Indemnifying Party, then as described in Section 11.4, are hereinafter referred to, collectively, as “Agreed Claims”. Within ten (10) days of the determination of the amount of any Agreed Claims, subject to the limitations set forth in Section 11.2(d), (i) if the Indemnified Party is a Parent Indemnitee, then the Target Stockholder Representative and Parent shall have execute and deliver to the right Escrow Agent a joint written instruction instructing the Escrow Agent to select release to Parent (A) if the Escrowed Cash exceeds the amount of the Agreed Claim, an amount in cash equal to such Agreed Claim, or (B) if the Agreed Claim exceeds the Escrowed Cash but is lower than the Escrow Amount, the Escrowed Cash plus a separate counsel and number of shares of Parent Preferred Stock equal to assume such legal defense and otherwise the amount of the excess of the Agreed Claim over the Escrowed Cash, divided by the Fair Market Value, or (C) if the Agreed Claim exceeds the Escrow Amount, then the Target Stockholders shall, at the Target Stockholders’ option, (x) the number of shares of Parent Preferred Stock that divided by the Fair Market Value equals the excess of the Agreed Claim over the Escrow Amount, or (y) pay to participate the Parent Indemnitee in the defense of such action, accordance with the expenses and fees Joinder Agreement the amount of such separate counsel and other expenses related the excess of the Agreed Claim over the Escrow Amount by wire transfer in immediately available funds to the bank account or accounts designated by the Parent Indemnitee in a notice to the Target Stockholders not less than two (2) Business Days prior to such participation payment or (ii) if the Indemnified Party is a Target Indemnitee, then Parent shall pay to be reimbursed the Target Indemnitee an amount equal to the Agreed Claim by wire transfer in immediately available funds to the bank account or accounts designated by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall Target Indemnitee in a notice to Parent not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available less than two (2) Business Days prior to a party at law or in equity or otherwisesuch payment.
Appears in 3 contracts
Sources: Merger Agreement (Mobile Mini Inc), Merger Agreement (Mobile Services Group Inc), Merger Agreement (Mobile Storage Group Inc)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party Each party entitled to be indemnified pursuant to Section 3.1 and 3.2 (hereinaftereach, the an “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or shall notify the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder other party (the “Indemnifying Party”) written in writing of any action against such Indemnified Party in respect of which the other party is or may be obligated to provide indemnification pursuant to Section 3.1 or 3.2, promptly after the receipt of notice or knowledge of such claim or the commencement thereof. The omission of such action, suit or proceeding, but failure any Indemnified Party so to so notify the Indemnifying Party will other party of any such action shall not relieve the Indemnifying Party from any liability which it may have to such Indemnified Party hereunder except to the extent the Indemnifying Party shall have been prejudiced by the omission of such Indemnified Party so to notify it, pursuant to this Section 3.3. In case any such action shall be brought against any Indemnified Party, the Indemnifying Party shall be entitled to participate therein and, to the extent that the Indemnifying Party is materially prejudiced by may wish, to assume the defense thereof, with counsel reasonably satisfactory to such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any and after notice from it to such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention election so to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in assume the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall will not be liable to such Indemnified Party for any additional legal expenses or other expense subsequently incurred by the such Indemnified Party in connection with the defense thereof nor for any defense or settlement thereof entered into without the consent of such asserted liabilitythe Indemnifying Party; provided, however, that the Indemnified Party shall be entitled (i) at its expense, if the Indemnifying Party shall elect not to participate in assume the defense of such asserted liability and the negotiations of the settlement thereof and claim or action or (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or reasonably determines (Bx) if that there is a substantial actual conflict between the defendants in any such action include both the Indemnified Party and positions of the Indemnifying Party and counsel to of the Indemnified Party shall have concluded in defending such claim or action or (y) that there may be reasonable legal defenses available to the such Indemnified Party that are different from or 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, then separate counsel for the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise be entitled to participate in and conduct the defense of such actiondefense, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle be liable for any indemnified claim without the consent of reasonable legal or other expenses incurred by the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for Party in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiseconnection therewith.
Appears in 3 contracts
Sources: Subscription Agreement (Advanced Photonix Inc), Subscription Agreement (Advanced Photonix Inc), Subscription Agreement (Advanced Photonix Inc)
Indemnification Procedure. Promptly after any Company Related Party (a) The party or Purchaser Related Party (hereinafter, parties being indemnified are referred to herein as the “"Indemnified Party”) has received notice " and the indemnifying party is referred to herein as the "Indemnifying Party." In the event that any party shall incur or suffer any Losses in respect of any indemnifiable claim which indemnification may be sought by such party hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) assert a claim for indemnification by written notice of such claim or the commencement of such action, suit or proceeding, but failure ("Notice") to so notify the Indemnifying Party will stating the nature and basis of such claim. In the case of Losses arising by reason of any third party claim, the Notice shall be given within thirty (30) days of the filing or other written assertion of any such claim against the Indemnified Party, but the failure of the Indemnified Party to give the Notice within such time period shall not relieve the Indemnifying Party from of any liability it that the Indemnifying Party may have to such the Indemnified Party hereunder Party, except to the extent that the Indemnifying Party is materially demonstrates that the defense of such action has been prejudiced by the Indemnified Party's failure to give such failure. Such notice shall state notice.
(b) In the nature and case of third party claims for which indemnification is sought, the basis of such claim to the extent then known. The Indemnifying Party shall have the right option (i) to conduct any proceedings or negotiations in connection therewith, (ii) to take all other steps to settle or defend any such claim (provided that the Indemnifying Party shall not settle any such claim without the consent of the Indemnified Party (which consent shall not be unreasonably withheld or delayed)), and settle(iii) to employ counsel to contest any such claim or liability in the name of the Indemnified Party or otherwise. In any event, the Indemnified Party shall be entitled to participate at its own expense and by its own counsel who shall be reasonably acceptable in any proceedings relating to the Indemnified Party, any such matter as long as the third party claim. The Indemnifying Party pursues shall, within twenty (20) days of receipt of the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settleNotice, it shall promptly notify the Indemnified Party of its intention to do soassume the defense of such claim. If (i) the Indemnifying Party shall decline to assume the defense of any such claim, and (ii) the Indemnifying Party shall fail to notify the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation within twenty (20) days after receipt of the Indemnified Party shall be at the cost Notice of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake 's election to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party claim or (Biii) 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 reasonable defenses available to the Indemnified Party that it which are different from or in addition to those available to the Indemnifying Party or if a conflict exists between the interests of Indemnifying Party and the Indemnified Party reasonably may be deemed to conflict with the interests of the Indemnifying Party, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate (in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, which case the Indemnifying Party shall not have the right to direct the defense of such action on behalf of the Indemnified Party), the Indemnified Party shall defend against such claim and the Indemnified Party may settle any indemnified such claim without the consent of the Indemnifying Party, and the Indemnifying Party may not challenge the reasonableness of any such settlement. The expenses of all proceedings, contests or lawsuits in respect of such claims shall be borne and paid by the Indemnifying Party (up to a limit of one counsel in the case of attorneys' fees) and the Indemnifying Party shall pay the Indemnified Party, unless in immediately available funds, as such Losses are incurred upon receipt of supporting documentation thereof. Regardless of which party shall assume the settlement thereof imposes no liability defense of the claim, the parties agree to cooperate fully with one another in connection therewith. In the event that any Losses incurred by the Indemnified Party do not involve payment by the Indemnified Party of a third party claim, then, the Indemnifying Party shall pay, within ten (10) days after agreement on the amount of Losses or obligation onthe occurrence of a final non-appealable determination of such amount payable, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, to the Indemnified Party, in immediately available funds, the amount of such Losses. Anything in this Section 5.3 to the contrary notwithstanding, the Indemnifying Party shall not, without the Indemnified Party's prior written consent, settle or compromise any claim or consent to entry of any judgment in respect thereof which imposes any future obligation on the Indemnified Party or which does not include, as an unconditional term thereof, the giving by the claimant or plaintiff to the Indemnified Party, a release from all liability in respect of such claim.
(c) The remedies provided for in this Section 6 are cumulative and are Article V shall not be exclusive of any other rights or remedies that may be available to a one party against the other, either at law or in equity or otherwiseequity.
Appears in 3 contracts
Sources: Financial Warranty Agreement (Oppenheimer Principal Protected Trust Ii), Financial Warranty Agreement (Merrill Lynch Principal Protected Trust), Financial Warranty Agreement (Merrill Lynch Principal Protected Trust)
Indemnification Procedure. Promptly after any Company SUN Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced (through the forfeiture of substantive rights and defenses) by such failure; provided, that, the failure to notify the Indemnifying Party shall not relieve the Indemnifying Party from any liability which it may have to an Indemnified Party otherwise than under this Article VI. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Partycounsel, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or and employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include contain any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Series a Preferred Unit Purchase Agreement (Sunoco LP), Series a Preferred Unit Purchase Agreement (Energy Transfer Equity, L.P.)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personPerson, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Scientific Industries Inc), Securities Purchase Agreement (Scientific Industries Inc)
Indemnification Procedure. Promptly after any Company Related If a Supplier Indemnified Party or Purchaser Related a Zogenix Indemnified Party (hereinafter, the “in each case an "Indemnified Party”) has received notice of "), receives any indemnifiable written claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the such Indemnified Party believes in good faith is an indemnifiable claim under this Agreementthe subject of indemnity hereunder by Zogenix or Supplier as the case may be (the "Indemnifying Party"), the Indemnified Party shall shall, as soon as reasonably practicable after forming such belief, give notice thereof to the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or , provided that the commencement of such action, suit or proceeding, but failure to so notify give timely notice to the Indemnifying Party will as contemplated hereby shall not relieve release the Indemnifying Party from any liability it may have to such the Indemnified Party hereunder except to the extent that unless the Indemnifying Party demonstrates that the defense of such claim is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right right, by prompt notice to defend and settle, the Indemnified Party to assume the defense of such claim at its own expense and by its own cost, with counsel who shall be reasonably acceptable satisfactory to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settledoes not so assume the defense of such claim or, it shall promptly notify having done so, does not diligently pursue such defense, the Indemnified Party may assume the defense, with counsel of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall includechoice, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After If the Indemnifying Party has notified assumes and diligently pursues the defense, it shall have absolute control of the litigation; the Indemnified Party may, nevertheless, participate therein through counsel of its intention to undertake to defend or settle choice and at its cost. The Party not assuming the defense of any such asserted liability, and for so long as claim shall render all reasonable assistance to the Indemnifying Party diligently pursues assuming such defense, out-of-pocket costs of such assistance shall be for the account of the Indemnifying Party. No claim hereunder shall be settled other than by the Party defending the same, and then only with the consent of the other Party, which consent shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liabilityunreasonably withheld; provided, however, provided that the Indemnified Party shall be entitled (i) at its expense, have no obligation to participate in the defense consent to any settlement of any such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to claim which imposes on the Indemnified Party any liability or (B) if the defendants obligation which cannot be assumed or performed in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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 full by the Indemnifying Party, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Supply Agreement (Zogenix, Inc.), Master Supply Agreement (Zogenix, Inc.)
Indemnification Procedure. (a) A claim for indemnification for any matter not involving a Third Party Claim may be asserted by written notice to the party from whom indemnification is sought in accordance with the terms and conditions of this Agreement; provided, however, that failure to so notify the Indemnifying Party shall not preclude the Indemnified Party from any indemnification that it may claim in accordance with this Article V unless and to the extent the Indemnifying Party is materially prejudiced by such failure.
(b) Promptly after any Company Related Party or Purchaser Investors Related Party (hereinafterin such context, the “Indemnified Party”) has received notice of any indemnifiable claim hereunderhereunder from, or the commencement of any action, suit or proceeding by by, a third personperson unaffiliated with either party or its respective Affiliates, which claim the Indemnified Party believes in good faith is an indemnifiable claim under this AgreementAgreement (each, a “Third Party Claim”), the Indemnified Party shall give the indemnitor hereunder (in such context, the “Indemnifying Party”) written notice of such claim or Third Party Claim identifying the commencement nature and the basis of such action, suit or proceedingThird Party Claim to the extent then known, but failure or delay to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then knownfailure or delay. The Indemnifying Party shall have the right to defend assume and control the defense of, and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Partycounsel, any such matter as long as the Indemnifying Party pursues the same diligently and in good faithfaith and irrevocably agrees to provide indemnification hereunder, provided, that notwithstanding anything to the contrary in this Section 5.4, the Indemnifying Party shall not be entitled to assume the defense of any Third Party Claim (and to the extent the Indemnifying Party has assumed the defense, shall transfer control of such defense to the Indemnified Party) if (i) such Third Party Claim seeks equitable relief or such Third Party Claim involves a criminal action, (ii) the Indemnifying Party shall not have assumed the defense of such Third Party Claim within 10 Business Days of receipt of notice of such claim for indemnity or (iii) such Third Party Claim exceeds the Purchase Price. If the Indemnifying Party undertakes to defend assume and control the defense or settlesettle such Third Party Claim, it shall promptly promptly, and in no event later than ten (10) Business Days after notice of such claim, notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate in good faith with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and or the settlement thereof. Such Subject to the requirements of applicable Law, any material agreement pursuant to which the Indemnified Party or the Indemnifying Party is bound and the applicability of attorney-client privilege, such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation The Indemnifying Party shall bear all reasonable and documented out-of-pocket costs of the Indemnified Party shall be at associated with such cooperation by the cost of the Indemnifying Indemnified Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defensedefense in good faith, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its own expense, to participate in the defense of such asserted liability and the any negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has has, within ten (10) Business Days of when the Indemnified Party provides written notice of a Third Party Claim, failed to (x) assume the defense or employ counsel reasonably acceptable to settlement of such Third Party Claim, and (y) notify the Indemnified Party of such assumption, or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be one or more reasonable defenses available to the Indemnified Party that are different from or 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, then then, in each case, the Indemnified Party shall have the right to select a one (1) separate counsel and and, upon prompt notice to the Indemnifying Party, to assume such settlement or legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this AgreementAgreement to the contrary, the Indemnifying Party shall not settle any indemnified indemnifiable claim hereunder without the consent of the Indemnified PartyParty (which consent shall not be unreasonably withheld), unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include contain any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Investment Agreement (Capital Senior Living Corp), Investment Agreement (Capital Senior Living Corp)
Indemnification Procedure. Promptly after any Company Related Party Purchaser or Purchaser Related Party other Person indemnified hereunder (hereinafter, the “"Indemnified Party”") has received notice or has knowledge of any indemnifiable claim for indemnification hereunder, or the commencement of any action, suit action or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) Company written notice of such claim or the commencement of such action, suit action or proceeding, but failure so to so notify the Indemnifying Party Company will not relieve the Indemnifying Party Company from any liability which it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party Company is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then knownclaim. The Indemnifying Party Company shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Partycounsel, any such matter as long as the Indemnifying Party Company pursues the same diligently and in good faith. If the Indemnifying Party Company undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party Company and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party Company with any books, records and other information reasonably requested by the Indemnifying Party Company and in the Indemnified Party’s 's possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying PartyCompany. After the Indemnifying Party Company has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party Company diligently pursues such defense, the Indemnifying Party Company shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and or (ii) if (A) the Indemnifying Party Company has failed to assume the defense or and employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party Company and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or in addition additional to those available to the Indemnifying Party Company or if the interests of the Indemnified Party reasonably may be deemed to conflict with the interests of the Indemnifying PartyCompany, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party Company as incurred. Notwithstanding any other provision of this Agreement, and the Indemnifying Party Company shall not settle any indemnified such claim without the consent of the Indemnified Party, Party unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided If the Indemnified Party undertakes such a defense through counsel of its choice, the Indemnified Party may settle such matter, and the Company shall reimburse the Indemnified Party for the amount paid in this Section 6 are cumulative such settlement and are not exclusive of any remedies that may be available to a party at law other liabilities or expenses incurred by the Indemnified Party in equity or otherwiseconnection therewith.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Utilicorp United Inc), Securities Purchase Agreement (Quanta Services Inc)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (ia) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (iib) if (Ai) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (Bii) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 Article VI are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Common Stock Subscription Agreement, Common Stock Subscription Agreement (Nisource Inc/De)
Indemnification Procedure. Promptly after any Company AMID Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Securities Purchase Agreement (American Midstream Partners, LP), Securities Purchase Agreement (American Midstream Partners, LP)
Indemnification Procedure. Promptly after any Company Related If either Party is seeking indemnification under Section 13.1 (Indemnification; By Partner) or Purchaser Related Party Section 13.2 (hereinafter, Indemnification; By Kiniksa) (the “Indemnified Party”) has received notice of any indemnifiable claim hereunder), or then it will inform the commencement of any action, suit or proceeding by a third person, which the Indemnified other Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) of the Third Party Claim giving rise to such indemnification obligations within [***] days after receiving written notice of the Third Party Claim (it being understood and agreed, however, that the failure or delay by an Indemnified Party to give such claim or the commencement notice of such action, suit or proceeding, but failure to so notify a Third Party Claim will not affect the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party Party’s indemnification obligations hereunder except to the extent that the Indemnifying Party is will have been actually and materially prejudiced by such failure. Such notice shall state the nature and the basis as a result of such claim failure or delay to the extent then knowngive notice). The Indemnifying Party shall will have the right to defend assume the defense of any such Third Party Claim for which it is obligated to indemnify the Indemnified Party. The Indemnified Party will cooperate with the Indemnifying Party and settlethe Indemnifying Party’s insurer as the Indemnifying Party may reasonably request, and at the Indemnifying Party’s cost and expense. The Indemnified Party will have the right to participate, at its own expense and by its own with counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do sochoice, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying of any Third Party with any books, records and other information reasonably requested Claim that has been assumed by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After Neither Party will have the Indemnifying Party has notified obligation to indemnify the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified other Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) made without the Indemnifying Party has failed to assume the defense Party’s written consent, which consent will not be unreasonably withheld, conditioned, or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the delayed. The Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or in addition to those available to the Indemnifying Party or if the interests will not admit liability of the Indemnified Party reasonably may without the Indemnified Party’s prior written consent, which consent will not be deemed unreasonably withheld, conditioned, or delayed. If the Parties cannot agree as to conflict with the interests application of Section 13.1 (Indemnification; By Partner) or Section 13.2 (Indemnification; By Kiniksa) as to any Third Party Claim, pending resolution of the Indemnifying PartyDispute pursuant to Article 16 (Dispute Resolution), then the Indemnified Parties may conduct separate defenses of such Third Party shall have Claims, with each Party retaining the right to select a separate counsel and to assume such legal defense and otherwise to participate claim indemnification from the other Party in the defense of such actionaccordance with Section 13.1 (Indemnification; By Partner) or Section 13.2 (Indemnification; By Kiniksa), with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreementapplicable, the Indemnifying Party shall not settle any indemnified claim without the consent upon resolution of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiseunderlying Third Party Claim.
Appears in 2 contracts
Sources: Collaboration and License Agreement (Kiniksa Pharmaceuticals, Ltd.), Collaboration and License Agreement (Kiniksa Pharmaceuticals, Ltd.)
Indemnification Procedure. Promptly after any Investor or the Company Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personPerson, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (ia) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (iib) if (Ai) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (Bii) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Warrant Agreement (Centogene N.V.), Securities Purchase Agreement (Centogene N.V.)
Indemnification Procedure. (a) Promptly after following receipt by an Indemnified Party of notice by a third party (including any Company Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”Governmental Body) has received notice of any indemnifiable complaint, dispute or claim hereunder, or the commencement of any actionaudit, suit investigation, action or proceeding by a third person, with respect to which the such Indemnified Party believes in good faith is an indemnifiable claim under this Agreementmay be entitled to indemnification pursuant hereto (a “Third-Party Claim”), the such Indemnified Party shall give provide written notice thereof (a “Claim Notice”) to the indemnitor hereunder party obligated to indemnify under this Agreement (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but ). The failure to so notify the Indemnifying Party will deliver a Claim Notice, however, shall not relieve release the Indemnifying Party from any liability it may have to such Indemnified Party hereunder of its obligations under this Article XI except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state .
(b) If the nature Indemnifying Party acknowledges in writing its obligation to indemnify the Indemnified Party against any and the basis of such claim all Losses that may result from a Third-Party Claim that is exclusively for civil monetary damages at law pursuant to the extent then known. The terms of this Agreement, the Indemnifying Party shall have the right to defend and settleright, at its own expense and by its own counsel who shall be reasonably acceptable upon written notice to the Indemnified PartyParty within 15 days of receipt of a Claim Notice from the Indemnified Party in respect of such Third-Party Claim, any such matter as long as to assume the defense thereof at the expense of the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but (which expenses shall not be limited to, furnishing the Indemnifying Party applied against any indemnity limitation herein) with any books, records and other information reasonably requested counsel selected by the Indemnifying Party and in satisfactory to the Indemnified Party’s possession or control. Such cooperation of Notwithstanding the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defenseforegoing, the Indemnifying Party shall not be entitled to assume the defense of any Third-Party Claim for equitable or injunctive relief or any claim that would impose criminal liability or damages, and the Indemnified Party shall have the right to defend, at the expense of the Indemnifying Party (subject to the indemnity limitations herein), any such Third-Party Claim. The Indemnifying Party shall be liable for any additional legal the fees and expenses incurred of counsel employed by the Indemnified Party in connection with for any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) period during which the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable thereof prior to the Indemnifying Party providing written notice that the Indemnifying Party does not expressly elect to assume the defense. If the Indemnifying Party does not expressly elect to assume the defense of such Third-Party Claim within the time period and otherwise in accordance with the first sentence of this Section 11.4(b), the Indemnified Party shall have the sole right to assume the defense of and to settle such Third-Party Claim (subject to the indemnity limitations herein). If the Indemnifying Party assumes the defense of such Third-Party Claim, the Indemnified Party shall have the right to employ separate counsel and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of the Indemnified Party unless (i) the employment of such counsel shall have been specifically authorized in writing by the Indemnifying Party or (Bii) if the defendants in named parties to the Third-Party Claim (including any such action impleaded parties) include both the Indemnified Party and the Indemnifying Party, and the Indemnified Party and reasonably determines that representation by counsel to the Indemnifying Party of both the Indemnifying Party and such Indemnified Party shall have concluded that there may be reasonable defenses available to present such counsel with a conflict of interest. If the Indemnifying Party assumes the defense of any Third-Party Claim, the Indemnified Party that are different from or shall, at the Indemnifying Party’s expense, cooperate with the Indemnifying Party in addition to those such defense and make available to the Indemnifying Party or if the interests of all witnesses, pertinent records, materials and information in the Indemnified Party Party’s possession or under the Indemnified Party’s control relating thereto as is reasonably may be deemed to conflict with the interests of required by the Indemnifying Party, then . If the Indemnified Indemnifying Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in assumes the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying any Third-Party as incurred. Notwithstanding any other provision of this AgreementClaim, the Indemnifying Party shall not settle any indemnified claim not, without the prior written consent of the Indemnified Party, unless enter into any settlement or compromise or consent to the settlement thereof imposes no liability entry of any judgment with respect to such Third-Party Claim if such settlement, compromise or obligation onjudgment (i) involves a finding or admission of wrongdoing, and includes a complete release from liability of, and (ii) does not include an unconditional written release by the claimant or plaintiff of the Indemnified Party from all liability in respect of such Third-Party Claim, (iii) imposes equitable remedies or any admission obligation on the Indemnified Party other than solely the payment of wrongdoing money damages for which the Indemnified Party will be indemnified hereunder, or malfeasance by(iv) relates to Taxes of the Company.
(c) In the event the Indemnified Party assumes the defense of a Third-Party Claim, the Indemnified PartyParty shall at all times use reasonable efforts to keep the Indemnifying Party reasonably apprised of the status of the defense of any matter the defense of which it is maintaining. No Indemnified Party may settle or compromise any Third-Party Claim or consent to the entry of any judgment with respect to which indemnification is being sought hereunder without the prior written consent of the Indemnifying Party (which may not be unreasonably withheld or delayed), unless such settlement, compromise or consent includes an unconditional release of the Indemnifying Party and its officers, directors, employees and Affiliates from all liability arising out of, or related to, such Third-Party Claim.
(d) In the event an Indemnified Party claims a right to payment pursuant hereto with respect to any matter not involving a Third-Party Claim (a “Direct Claim”), such Indemnified Party shall send a Claim Notice in respect of such claim to the appropriate Indemnifying Party (a “Notice of Claim”). The remedies provided for failure to deliver a Claim Notice, however, shall not release the Indemnifying Party from any of its obligations under this Article XI except to the extent that the Indemnifying Party is materially prejudiced by such failure and shall not relieve the Indemnifying Party from any other obligation or liability that it may have to the Indemnified Party or otherwise than pursuant to this Article XI. In the event the Indemnifying Party does not notify the Indemnified Party within thirty (30) days following its receipt of such Notice of Claim that the Indemnifying Party disputes its liability to the Indemnified Party under this ARTICLE XI or the amount thereof, the Direct Claim specified by the Indemnified Party in such Notice of Claim shall be conclusively deemed a liability of the Indemnifying Party under this Section 6 are cumulative ARTICLE XI, and are not exclusive the Indemnifying Party shall pay the amount of such liability to the Indemnified Party on demand or, in the case of any remedies notice in which the amount of the Direct Claim (or any portion of the Direct Claim) is estimated, on such later date when the amount of such Direct Claim (or such portion of such Direct Claim) becomes finally determined. If the Indemnifying Party agrees that it has an indemnification obligation but asserts that it is obligated to pay a lesser amount than that claimed by the Indemnified Party, the Indemnifying Party shall pay such lesser amount promptly to the Indemnified Party, without prejudice to or waiver of the Indemnified Party’s claim for the difference.
(e) For purposes of Section 11.1, any breach of any representation or warranty of the Company or Seller pursuant to this Agreement, the Seller Compliance Certificate or any other Seller Related Agreement and the Losses related thereto shall be determined without regard to any materiality, Material Adverse Effect or other similar qualification contained in or otherwise applicable to such representation or warranty.
(f) Notwithstanding the provisions of Section 12.7, each Indemnifying Party hereby consents to the nonexclusive jurisdiction of any court in which a Legal Proceeding in respect of a Third-Party Claim is brought against any Indemnified Party for purposes of any claim that an Indemnified Party may have under this Agreement with respect to such Legal Proceeding or the matters alleged therein and agrees that process may be available served on each Indemnifying Party with respect to a party at law or in equity or otherwisesuch claim anywhere.
Appears in 2 contracts
Sources: Membership Interest Purchase Agreement (Montrose Environmental Group, Inc.), Membership Interest Purchase Agreement (Montrose Environmental Group, Inc.)
Indemnification Procedure. Promptly after Any Indemnified Party shall be entitled, upon written notice to the Indemnifying Party, to the timely appointment of counsel by the Indemnifying Party for the defense of any Company Related Party or Purchaser Related Party (hereinafterclaim, which counsel shall be subject to the “approval of the Indemnified Party”) has received notice . If, in the Indemnified Party’s reasonable judgment, a material conflict of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which interest exists between the Indemnified Party believes in good faith is an indemnifiable claim under this Agreementand the Indemnifying Party at any time during the defense of the Indemnified Party, the Indemnified Party shall give may appoint independent counsel of its choice for the indemnitor hereunder (defense of the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Indemnified Party will not relieve the Indemnifying Party from any liability it may have as to such claim. Additionally, regardless of whether the Indemnified Party hereunder except to has appointed counsel or selects independent counsel (i) the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Indemnified Party shall have the right to defend participate in the defense of any claim and settleapprove any proposed settlement of such claim, at its own expense such approval not to be unreasonably withheld, and by its own counsel who (ii) all costs, expenses and attorneys’ fees of the Indemnified Party shall be reasonably acceptable to the Indemnified Party, any such matter as long as borne by the Indemnifying Party pursues the same diligently and in good faithParty. If the Indemnifying Party undertakes fails to defend or settletimely pay such costs, it shall promptly notify expenses and reasonable attorneys’ fees, the Indemnified Party of its intention may, but shall not be obligated to, pay such amounts and be reimbursed by the Indemnifying Party for the same, which amounts shall bear interest at the Default Rate until paid in full. The parties hereby acknowledge that it shall not be a defense to do soa demand for indemnity that less than all claims asserted against the Indemnified Party are subject to indemnification. If a claim is covered by the Indemnifying Party’s liability insurance, and the Indemnified Party shall not take or omit to take any action that would cause the insurer not to defend such claim or to disclaim liability in respect thereof. Further, the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and claim (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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 at the Indemnifying Party’s cost), then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified the claim without the consent of the Indemnified Indemnifying Party, unless and shall not take any action which prejudices the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission defense of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiseclaim.
Appears in 2 contracts
Sources: Share Exchange Implementation Agreement, Share Exchange Implementation Agreement (Playa Hotels & Resorts N.V.)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party (hereinafter, a) Any party seeking indemnification (the “"Indemnified Party”") has received notice of from any indemnifiable claim hereunderother party (the "Indemnifying Party") with respect to any claim, or the commencement of any demand, action, suit proceeding or proceeding by a third personother matter pursuant to this Agreement (the "Claim") shall promptly notify the Indemnifying Party of the existence of the Claim, which setting forth in reasonable detail the facts and circumstances pertaining thereto and the basis for the Indemnified Party's right to indemnification.
(b) If any third party shall notify any Indemnified Party believes in good faith is an indemnifiable claim with respect to any matter which may give rise to a Claim for indemnification against the Indemnifying Party under this Agreement, then the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so promptly notify the each Indemnifying Party will not thereof; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any liability it may have to such Indemnified Party or obligation hereunder except unless (and then solely to the extent that extent) the Indemnifying Party thereby is materially prejudiced by such failurefailure to give notice. Such notice shall state In the nature and the basis of such claim to the extent then known. The event that any Indemnifying Party shall have notifies the right Indemnified Party within 30 days after the Indemnified Party has given notice of the matter that the Indemnifying Party would be required to indemnify the Indemnified Party in full against any such Claim and is assuming the defense thereof:
(i) the Indemnifying Party will defend and settle, at the Indemnified Party against the matter with counsel of its own expense and by its own counsel who shall be choice reasonably acceptable satisfactory to the Indemnified Party, any such matter as long as ;
(ii) the Indemnified Party may retain separate co-counsel at its sole cost and expense (except that the Indemnifying Party pursues will be responsible for the same diligently fees and in good faith. If expenses of the Indemnifying Party undertakes separate co-counsel (a) to defend or settle, it shall promptly notify the extent the Indemnified Party concludes reasonably based upon advice of its intention to do so, and counsel that a conflict of interest exists between the Indemnified Party shall cooperate with the and Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (Bb) if the defendants in named parties to any such action (including any impleaded parties) include both the such Indemnified Party and the Indemnifying Party and counsel to the such Indemnified Party shall have concluded been advised by counsel that there may be reasonable one or more legal defenses available to the Indemnified Party that which are different from or in addition to those not available to the Indemnifying Party, or available to the Indemnifying Party, but the assertion of which would be adverse to the interest of the Indemnified Party);
(iii) the Indemnified Party will not consent to the entry of any judgment or if enter into any settlement with respect to the interests matter without the written consent of the Indemnifying Party (not to be withheld unreasonably); and
(iv) the Indemnifying Party will not consent to the entry of any judgment or enter into any settlement which does not include a provision whereby the plaintiff or claimant in the matter releases the Indemnified Party from all liability with respect thereto, without the written consent of the Indemnified Party reasonably may (not to be deemed to conflict with withheld unreasonably).
(c) If no Indemnifying Party notifies the interests Indemnified Party within 30 days after the Indemnified Party has given notice of the matter that the Indemnifying PartyParty is assuming the defense thereof, then the Indemnified Party may defend against, or enter into any settlement with respect to, the matter in any manner it reasonably may deem appropriate, without prejudice to any of its rights hereunder.
(d) The Indemnified Party shall have be entitled to reimbursement of reasonable expenses included in Damages with respect to any Claim (including, without limitation, the right to select a separate counsel cost of defense, preparation and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related investigation relating to such participation to be reimbursed Claim) as such expenses are incurred by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Stock Purchase Agreement (Outsourcing Solutions Inc), Stock Purchase Agreement (Outsourcing Solutions Inc)
Indemnification Procedure. (a) Promptly after upon becoming aware of any Company Related Party matter which is subject to the provisions of Section 24 or Purchaser Related Party other indemnity obligations under this Agreement (hereinaftera “Claim”), the party seeking indemnification (“Indemnified Party”) has received must give written notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which Claim to the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder other party (the “Indemnifying Party”), accompanied by a copy of any written documentation regarding the Claim received by the Indemnified Party.
(b) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the The Indemnifying Party will not relieve retain the Indemnifying Party from any liability it may have right, at its option, to such Indemnified Party hereunder except to settle or defend the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, Claim at its own expense and by with its own counsel. The Indemnified Party will also retain the right, at its option, to participate in the settlement or defense of the Claim with its own counsel who shall be reasonably acceptable and at its own expense; but, the Indemnifying Party will have the right to control the settlement or defense. The Indemnifying Party will not enter into any settlement that imposes any liability or obligation on the Indemnified Party without the Indemnified Party, any such matter as long as ’s prior written consent. The parties will cooperate in the Indemnifying Party pursues the same diligently settlement or defense and in good faith. will give each other full access to all relevant information.
(c) If the Indemnifying Party undertakes fails: (i) to defend or settle, it shall promptly notify the Indemnified Party of its intention the Indemnifying Party’s intent to do sotake any action within 30 days after receipt of a notice of a Claim; or (ii) to proceed in good faith with the prompt resolution of the Claim, and the Indemnified Party shall cooperate Party, with prior written notice to the Indemnifying Party and its counsel in all commercially reasonable respects in without waiving any rights to indemnification, may defend or settle the defense thereof and Claim without the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost prior consent of the Indemnifying Party. After the The Indemnifying Party has notified will reimburse the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and on demand for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses all Damages incurred by the Indemnified Party in connection defending or settling the Claim.
(d) Neither party is obligated to indemnify and defend the other with any defense respect to a Claim (or settlement portions of such asserted liability; provided, however, that a Claim): (i) if the Indemnified Party shall be entitled (i) at its expense, fails to participate in promptly notify the defense of such asserted liability and the negotiations Indemnifying Party of the settlement thereof Claim and fails to provide reasonable cooperation and information to defend or settle the Claim; and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable and only to the Indemnified Party or (B) if extent that, the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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 failure materially prejudices the Indemnifying Party, then ’s ability to satisfactorily defend or settle the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiseClaim.
Appears in 2 contracts
Sources: Master Site Agreement, Master Site Agreement (Clearwire Corp /DE)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party (hereinaftera) Upon obtaining knowledge thereof, the party to be indemnified hereunder (the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or shall promptly notify the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor indemnifying party hereunder (the “Indemnifying Party”) in writing of any Claim which the Indemnified Party has determined has given or could give rise to a Claim for which indemnification rights are granted hereunder (such written notice referred to as the “Notice of such claim or Claim”); provided, that, the commencement failure by the Indemnified Party to provide the Notice of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not Claim with reasonable promptness shall only relieve the Indemnifying Party from any liability it may have to such Indemnified Party of its indemnification obligations hereunder except if and to the extent that the Indemnifying Party is Party’s ability to defend has been actually and materially prejudiced by such failure. Such notice The Notice of Claim shall state specify, in all reasonable detail, the nature and the basis estimated amount of any such claim Claim giving rise to a right of indemnification.
(b) With respect to any matter set forth in a Notice of Claim relating to a third party Claim, subject to the extent following sentence, the Indemnifying Party may compromise or defend, at the Indemnifying Party’s own expense, and by the Indemnifying Party’s own counsel, any such matter involving the asserted liability of the Indemnified Party; provided, however, that no compromise or settlement thereof may be effected by the Indemnifying Party without the Indemnified Party’s consent (which shall in any event not be unreasonably withheld or delayed) unless (i) there is no finding or admission of any violation of Law by the Indemnified Party or any violation of the rights of any Person by the Indemnified Party, (ii) there is no effect on any other Claims that may be made against the Indemnified Party, and (iii) the sole relief provided is monetary damages that are paid in full by the Indemnifying Party. Notwithstanding the foregoing, if the Indemnifying Party elects not to compromise or defend such matter, then knownthe Indemnified Party, at its expense and its own counsel, may defend such matter (without compromising its rights to indemnification pursuant to this Article VI). The Indemnifying Party shall have no liability with respect to any such matter, the right to defend and settledefense of which is compromised without the Indemnifying Party’s consent (unless such consent was unreasonably withheld or delayed). In any event, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues and the same diligently and Indemnifying Party’s counsel (and, if applicable, the Indemnified Party’s counsel) shall cooperate in good faithfaith in the compromise of, or the defense against, any such asserted liability. If the Indemnifying Party undertakes chooses to defend or settleany Claim, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be entitled, at the cost of the Indemnifying Indemnified Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its ’s expense, to participate in the such defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or in addition to those make available to the Indemnifying Party any books, records, or if the interests of the Indemnified Party other documents within its control that are reasonably may be deemed to conflict with the interests of the Indemnifying Party, then the Indemnified Party shall have the right to select a separate counsel and to assume necessary or appropriate for such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwisedefense.
Appears in 2 contracts
Sources: Share Purchase Agreement, Share Purchase Agreement (Radiant Systems Inc)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The Company agrees that, without the Indemnified Party’s prior written consent, it will not agree to any settlement of, compromise or consent to the entry of any judgment in or other termination of (each and collectively, a “Settlement”) any claim in respect of which indemnification could be sought hereunder, unless (i) such Settlement includes an unconditional release from the party bringing such claim of all Indemnified Parties and (ii) the parties agree that the terms of such Settlement shall remain confidential. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Subscription Agreement, Subscription Agreement (SEACOR Marine Holdings Inc.)
Indemnification Procedure. Promptly after any Company Related Each Indemnified Party or Purchaser Related shall promptly notify the Indemnifying Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, Claim with respect to which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, entitled to be indemnified hereunder. Such notice shall be given as soon as is reasonably practicable after the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice becomes aware of such claim or the commencement of such actioneach Claim; provided, suit or proceedinghowever, but that failure to so notify the Indemnifying Party will give prompt notice shall not relieve the Indemnifying Party from adversely affect any liability it may have to such Indemnified Party Claim for indemnification hereunder except to the extent that the Indemnifying Party Party's ability to contest any Claim by any third party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then knownadversely affected. The Indemnifying Party shall have the right to defend and settleright, but not the obligation, at its own expense expense, to contest, defend and by its own counsel who shall be reasonably acceptable litigate, and to control the Indemnified Partycontest, defense or litigation of, any Claim by any third party alleged or asserted against any Indemnified Party arising out of any matter with respect to which such matter as long as the Indemnified Party is entitled to be indemnified hereunder. The Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the such Indemnified Party of its intention to do so, exercise such right set forth in the immediately preceding sentence and shall reimburse the Indemnified Party shall cooperate with for the Indemnifying Party reasonable costs and its counsel in all commercially reasonable respects in expenses paid or incurred by it prior to the assumption of such contest, defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested or litigation by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After If the Indemnifying Party has notified exercises such right in accordance with the provisions of this Section 9 and any Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as notifies the Indemnifying Party diligently pursues that it desires to retain separate counsel in order to participate in or proceed independently with such defensecontest, defense or litigation, such Indemnified Party may do so at its own expense. If the Indemnifying Party fails to exercise its rights set forth in the third sentence of this paragraph, then the Indemnifying Party shall not be liable for any additional legal expenses incurred by reimburse the Indemnified Party for its reasonable costs and expenses incurred in connection with any the contest, defense or settlement litigation of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiseClaim.
Appears in 2 contracts
Sources: Full Requirements Service Agreement (Constellation Energy Group Inc), Full Requirements Service Agreement (Constellation Energy Group Inc)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party Any party (hereinafter, the “"Indemnified Party”") has received that may be entitled to indemnification under this Agreement shall give notice of any indemnifiable claim hereunder, or to the commencement of any action, suit or proceeding party obligated to indemnify ("Indemnifying Party") reasonably promptly after the assertion by a third person, party of a claim against the Indemnified Party in respect of which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceedingintends to seek indemnification, but failure to so notify the delay in notifying the Indemnifying Party will shall not relieve the Indemnifying Party from it of any liability it may have to such Indemnified Party obligations hereunder except to the extent that such delay adversely affects the ability of the Indemnifying Party is materially prejudiced by such failure. Such notice shall state to conduct the nature and the basis defense of such claim to the extent then knownclaim. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel be entitled to participate in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall includesuch defense, but shall not be limited to, furnishing entitled to indemnification with respect to the expenses of such defense incurred after the date the Indemnifying Party shall have assumed the defense of the claim with any books, records and other information reasonably requested by the Indemnifying Party and in counsel satisfactory to the Indemnified Party’s possession or control. Such cooperation The Indemnifying Party may not settle any claim without the consent of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party (which consent shall not be liable for any additional legal expenses incurred by the Indemnified unreasonably withheld). If notice is given to an Indemnifying Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both assertion by a third party of a claim against the Indemnified Party and the Indemnifying Party and counsel does not, within ten (10) days after the Indemnified Party's notice is given, give notice to the Indemnified Party shall have concluded that there may be reasonable defenses available of its election to assume the defense thereof, the Indemnified Party that are different from or may, at the Indemnifying Party's expense, select counsel to defend such claim, and defend such claim in addition to those available to such manner as it may deem appropriate, and the Indemnifying Party shall be bound by any determination made with respect to such claim or any compromise or settlement thereof effected by the Indemnified Party. Notwithstanding the foregoing, if the interests an Indemnified Party determines in good faith that there is a reasonable probability that a claim may adversely affect it other than as a result of monetary damages or that the Indemnified Party reasonably may be deemed have claims or interests opposed to conflict with the interests that of the Indemnifying Party, then the such Indemnified Party shall have may, by notice to the Indemnifying Party, assume the exclusive right to select a separate counsel and to assume defend, compromise or settle such legal defense and otherwise to participate in the defense of such actionclaim, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, but the Indemnifying Party shall not settle be bound by any indemnified determination of a claim without the consent of the Indemnified Party, unless the so defended or any compromise or settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does effected without its consent (which shall not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiseunreasonably withheld).
Appears in 2 contracts
Sources: Stock Purchase Agreement (Avant Immunotherapeutics Inc), Stock Purchase Agreement (Avant Immunotherapeutics Inc)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party indemnified party hereunder (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personPerson, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Partycounsel, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (ia) at its expense, to participate assist the Indemnifying Party in the defense of such asserted liability and the negotiations of the settlement thereof and (iib) if (Ai) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (Bii) 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 reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified PartyParty which consent shall not be unreasonably withheld or delayed, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Immunic, Inc.), Securities Purchase Agreement (Immunic, Inc.)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party (hereinafter, i) The Person seeking indemnification under this Section 8.1 (the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give to the indemnitor hereunder Party(ies) from whom indemnification is sought (the “Indemnifying Party”) prompt written notice (in the case of indemnification under Section 8.1(a), such notice shall be given to the Stockholder Representative) of any third-party claim or the commencement of such actionwhich may give rise to any indemnity obligation under this Section 8.1, suit or proceeding, but failure to so notify and the Indemnifying Party will have the right to assume the defense of any such claim through counsel of its own choosing, by so notifying the Indemnified Party within fifteen (15) days of receipt of the Indemnified Party’s written notice; provided, however, that such counsel shall be reasonably satisfactory to the Indemnified Party. Failure of the Indemnified Party to give prompt notice shall not relieve affect the Indemnifying Party from any liability it may have to such Indemnified Party Party’s indemnification obligations hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state If the nature Indemnified Party desires to participate in any such defense assumed by the Indemnifying Party, it may do so at its sole cost and expense; provided, however, that the basis Indemnified Party will be entitled to participate in any such defense with separate counsel at the expense of such claim to the extent then known. The Indemnifying Party shall have if, in the right to defend and settle, at its own expense and by its own reasonable judgment of counsel who shall be reasonably acceptable to the Indemnified Party, any a conflict or potential conflict exists, or there are separate or additional defenses available to the Indemnified Party, that would make such matter as long as the Indemnifying Party pursues the same diligently and in good faithseparate representation advisable. If the Indemnifying Party undertakes declines to defend assume any such defense or settlefails to diligently pursue any such defense, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with then the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not will be liable for any additional legal all reasonable costs and expenses incurred by the Indemnified Party in connection with any defense or settlement investigating, defending, settling and/or otherwise dealing with such claim, including reasonable fees and disbursements of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, counsel. The Parties agree to participate cooperate with each other in connection with the defense of any such asserted liability and claim. The Indemnifying Party will not, without the negotiations prior written consent of the settlement thereof and (ii) if Indemnified Party, settle, compromise, or consent to the entry of any judgment with respect to any such claim, unless such settlement, compromise or judgment (A) does not result in the Indemnifying Party has failed to assume imposition of a consent order, injunction or decree that would restrict the defense future activity or employ counsel reasonably acceptable to conduct of the Indemnified Party or any Affiliate thereof, (B) if does not involve any remedies other than monetary damages, and (C) includes an unconditional release of the defendants in Indemnified Party and its Affiliates for all liability arising out of such claim and any related claim. The Indemnified Party will not, without the prior written consent of the Indemnifying Party, which will not be unreasonably withheld, delayed or conditioned, settle, compromise, or consent to the entry of any judgment with respect to any such action include both claim.
(ii) If an indemnification claim by any Indemnified Party is not disputed by the Indemnifying Party within thirty (30) days after the Indemnifying Party’s having received written notice thereof, or has been resolved by a Law of a Governmental Body, by a settlement of the indemnification claim in accordance with Section 8.1(c)(i) or by agreement of the Indemnified Party and the Indemnifying Party and counsel (any of the foregoing, a “Resolution”), then (A) in the case of indemnification under Section 8.1(b), Purchaser will pay to the Stockholder Indemnified Party shall have concluded that there promptly following such Resolution an amount in cash equal to the Losses of such Stockholder Indemnified Party as set forth in such Resolution, or (B) in the case of indemnification under Section 8.1(a), Purchaser will deliver evidence of such Resolution to the Stockholder Representative, whereupon the Stockholders, jointly or severally, will deliver to the Purchaser Indemnified Party an amount equal to the Losses of such Purchaser Indemnified Party as set forth in such Resolution. At the election of the Stockholder Representative, the amount to be delivered to the Purchaser Indemnified Party in accordance with the immediately preceding sentence may be reasonable defenses available deducted from the amounts owed under the Notes or the Earn-Out Payments, if any. Except as otherwise specifically provided in Section 8.1(d), the depletion of the amounts owed under the Notes or the Earn-Out Payments, if any, will not serve as a bar to recovery by the Purchaser Indemnified Parties from the Stockholders of any indemnifiable Losses, and the Purchaser Indemnified Parties will be entitled to look directly to the Stockholders, jointly and severally, for any Losses in excess of the such amounts, and such Losses will be the obligations of the Stockholders, jointly and severally, as provided in Section 8.1(a) and will be paid to the applicable Purchaser Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume promptly following such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiseResolution.
Appears in 2 contracts
Sources: Share Purchase Agreement, Share Purchase Agreement (AMERI Holdings, Inc.)
Indemnification Procedure. Promptly after any Company Related Indemnified Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personPerson, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party acknowledges that the Indemnifying Party is responsible for indemnifying the Indemnified Party with respect to such matter and pursues the same diligently and in good faithfaith and so long as (i) such matter does not involve criminal liability and (ii) equitable relief is not sought against the Indemnified Party. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (Aa) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (Bb) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Entasis Therapeutics Holdings Inc.), Securities Purchase Agreement (Innoviva, Inc.)
Indemnification Procedure. Promptly after any either the Subscriber or the Company Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit action or proceeding by a third personparty, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit action or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel counsel, who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, include furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, involves no admission of wrongdoing or malfeasance by, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Subscription Agreement (Essex Rental Corp.), Subscription Agreement (Essex Rental Corp.)
Indemnification Procedure. Promptly after Each Party will notify the other Party in writing in the event it becomes aware of a claim for which indemnification may be sought hereunder. In case any Company Related proceeding (including any governmental investigation) shall be instituted involving any Party or Purchaser Related in respect of which indemnity may be sought pursuant to this Article X, such Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or shall promptly notify the commencement of any action, suit or proceeding by a third person, which the Indemnified other Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify in writing and the Indemnifying Party will not relieve and Indemnified Party shall meet to discuss how to respond to any claims that are the subject matter of such proceeding. The Indemnified Party shall reasonably cooperate with the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis in defense of such claim to the extent then knownmatter. The Indemnifying Party, upon request of the Indemnified Party, shall retain counsel reasonably satisfactory to the Indemnified Party to represent the Indemnified Party and shall pay the fees and expenses of such counsel related to such proceeding. In any such proceeding, the Indemnified Party shall have the right to defend and settle, at retain its own expense counsel, but the fees and by its own expenses of such counsel who shall be reasonably acceptable to at the expense of the Indemnified Party, any such matter as long as Party unless (a) the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with have mutually agreed to the retention of such counsel, (b) the named parties to any such proceeding (including any impleaded parties) include both the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party and representation of both Parties by the same counsel would be inappropriate due to actual or potential differing interests between them. All such fees and expenses shall be at the cost of the Indemnifying Partyreimbursed as they are incurred. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the The Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of any proceeding effected without its written consent, but, if settled with such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or in addition to those available to the Indemnifying Party consent or if there be a final judgment for the interests of the Indemnified Party reasonably may be deemed to conflict with the interests of the Indemnifying Party, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreementplaintiff, the Indemnifying Party agrees to indemnify the Indemnified Party from and against any loss or liability by reason of such settlement or judgment. The Indemnifying Party shall not settle any indemnified claim not, without the written consent of the Indemnified Party, unless effect any settlement of any pending or threatened proceeding in respect of which the settlement thereof imposes no liability Indemnified Party is, or obligation oncould have been, a party and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, indemnity could have been sought hereunder by the Indemnified Party. The remedies provided for in this Section 6 , unless such settlement includes an unconditional release of the Indemnified Party from all liability on claims that are cumulative and are not exclusive the subject matter of any remedies that may be available to a party at law or in equity or otherwisesuch proceeding.
Appears in 2 contracts
Sources: Manufacturing License and Technology Transfer Agreement (Applied Genetic Technologies Corp), Manufacturing License and Technology Transfer Agreement (Applied Genetic Technologies Corp)
Indemnification Procedure. Promptly after any Company ETP Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Partycounsel, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or and employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include contain any admission of wrongdoing or malfeasance wrong doing by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party (hereinafter, Any party obligated to indemnify the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim other party under this Agreement, the Indemnified Party shall give the indemnitor hereunder Agreement (the “Indemnifying Party”) shall have the right, by written notice to the indemnified party, to assume the defense of such any claim or with respect to which the commencement of such action, suit or proceeding, but failure indemnified party is entitled to so notify indemnification hereunder. If the Indemnifying Party will not relieve gives such written notice: (i) such defense shall be conducted by counsel selected by the Indemnifying Party from any liability it may have and approved by the indemnified party, such approval not to such Indemnified Party hereunder except be unreasonably withheld or delayed (provided, however, that the indemnified party’s approval shall not be required with respect to counsel designated by the extent that Indemnifying Party’s insurer); (ii) so long as the Indemnifying Party is materially prejudiced by conducting such failure. Such notice shall state defense with reasonable diligence, the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend control said defense and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing required to pay the Indemnifying Party with fees or disbursements of any books, records and other information reasonably requested counsel engaged by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After indemnified party for services rendered after the Indemnifying Party has notified given the Indemnified Party written notice provided for above to the indemnified party, except if there is a conflict of its intention interest between the parties with respect to undertake to defend such claim or settle any such asserted liability, defense; and for so long as (iii) the Indemnifying Party diligently pursues shall have the right, without the consent of the indemnified party, to settle such defenseclaim, provided that such settlement involves only the payment of money, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party pays all amounts due in connection with any defense or settlement by reason of such asserted liability; providedsettlement and, howeveras part thereof, that the Indemnified Party indemnified party is unconditionally released from all liability in respect of such claim. The indemnified party shall be entitled (i) at its expense, have the right to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) claim being defended by the Indemnifying Party has failed to assume at the defense or employ counsel reasonably acceptable to expense of the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and indemnified party, but the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume control such legal defense and otherwise to participate (other than in the defense event of such action, a conflict of interest between the parties with the expenses and fees of such separate counsel and other expenses related respect to such participation to be reimbursed by claim or defense). In no event shall: (i) the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not indemnified party settle any indemnified claim without the consent of the Indemnified Indemnifying Party so long as the Indemnifying Party is conducting the defense thereof in accordance with this Agreement; or (ii) if a claim is covered by the Indemnifying Party’s liability insurance, unless take or omit to take any action which would cause the settlement thereof imposes no insurer not to defend such claim or to disclaim liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwiserespect thereof.
Appears in 2 contracts
Sources: Mutual Exclusivity Agreement (Braemar Hotels & Resorts Inc.), Mutual Exclusivity Agreement (Ashford Hospitality Trust Inc)
Indemnification Procedure. Promptly after any Company Partnership Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personparty, which the Indemnified Party believes in good faith is an indemnifiable claim under this AgreementAgreement (each a “Third Party Claim”), the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, include furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding the foregoing, the Indemnifying Party shall not be entitled to assume the defense of any third party indemnity claim (but shall be liable for the reasonable fees and expenses of counsel incurred by the Indemnified Party in defending such third party indemnity claim) if the third party indemnity claim seeks an order, injunction or other equitable relief or relief for other than money damages against the Indemnified Party which the Indemnified Party reasonably determines, after conferring with its outside counsel, cannot be separated from any related claim for money damages. If such equitable relief or other relief portion of the third party indemnity claim can be so separated from that for money damages, the Indemnifying Party shall be entitled to assume the defense of the portion relating to money damages. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, involves no admission of wrongdoing or malfeasance by, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Class D Preferred Unit and Warrant Purchase Agreement (NGL Energy Partners LP), Class D Preferred Unit and Warrant Purchase Agreement (NGL Energy Partners LP)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) party seeking reimbursement has received notice of any indemnifiable claim hereunderhereunder (the “Indemnified Party”), or the commencement of any action, suit action or proceeding by a third personparty, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit action or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, include furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel with consent of the Indemnifying Party and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified PartyParty (which consent shall not be unreasonably withheld), unless the settlement thereof imposes no liability or obligation on, involves no admission of wrongdoing or malfeasance by, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Spacehab Inc \Wa\), Stock Purchase Agreement (Spacehab Inc \Wa\)
Indemnification Procedure. (a) A claim for indemnification for any matter not involving a Third-Party Claim shall be asserted by prompt notice to the party from whom indemnification is sought; provided, however, that failure to so notify the Indemnifying Party shall not preclude the Indemnified Party from any indemnification which it may claim in accordance with this Article VI, except to the extent the Indemnifying Party is prejudiced as a result of such failure, and except as otherwise provided in Section 6.01 and Section 6.02.
(b) Promptly after any Company NEP Related Party or Party, Purchaser Related Party Party, or the Company, as applicable (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit suit, or proceeding by a third person, person which the Indemnified Party believes in good faith is an indemnifiable claim under this AgreementAgreement (each a “Third-Party Claim”), the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceedingThird-Party Claim, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim Third-Party Claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly promptly, and in no event later than ten (10) days, notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records records, and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has has, within ten (10) Business Days of when the Indemnified Party provides written notice of a Third-Party Claim, failed (1) to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (2) to notify the Indemnified Party of such assumption or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be are reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Contribution Agreement (NextEra Energy Partners, LP), Membership Interest Purchase Agreement (NextEra Energy Partners, LP)
Indemnification Procedure. (a) Promptly after the receipt by any Company Related Indemnified Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received of notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding Legal Dispute against such Indemnified Party by a third personparty (including any Governmental Entity) (such action, which the a “Third Party Claim”), such Indemnified Party believes in good faith will, if a claim with respect thereto is an indemnifiable claim under to be made against any party obligated to provide indemnification pursuant to this Agreement, the Indemnified Party shall give the indemnitor hereunder Article IX (the “Indemnifying Party”), give such Indemnifying Party prompt written notice of such Third Party Claim in reasonable detail, and, if determinable, will indicate the amount or estimated amount of the Member Losses or Purchaser Losses (as the case may be) that has or may be sustained thereby by such Indemnified Party. The failure to give such notice will not relieve any Indemnifying Party from any obligation under this Agreement except to the extent of any actual prejudice suffered by the Indemnifying Party as a direct result of such failure.
(b) The Indemnified Party shall have the right to direct, through counsel of its own choosing reasonably satisfactory to the Indemnifying Party, the defense or settlement of any Third Party Claim, and the cost of such defense or settlement shall be at the expense of the Indemnifying Party if such Third Party Claim is a claim as to which the Purchaser Indemnified Party is entitled to Indemnification. If the Indemnified Party elects to assume the defense of any such claim or proceeding, the Indemnifying Party may participate in such defense, at its own expense. The Indemnifying Party may not settle any Third Party Claim in any way that could reasonably be expected to prejudice the Indemnified Party in any material respect without first having received the written consent of the Indemnified Party, which consent shall not be unreasonably withheld, conditioned or delayed. Likewise, the Indemnified Party may not settle any Third Party Claim without first having received the consent of the Indemnifying Party which will not be unreasonably withheld, conditioned or delayed. The Indemnifying Party and Indemnified Party shall provide the other Party with access during normal business hours to its records and personnel relating to any such claim, assertion, event or proceeding and shall otherwise cooperate in the defense or settlement thereof (provided that such access and cooperation shall be conducted in such a manner as not to interfere unreasonably with the operation of the business of either party). If the Indemnifying Party elects to direct the defense of any such Third Party Claim, the Indemnified Party shall not pay, or permit to be paid, any part of the claim or demand arising therefrom, unless the Indemnifying Party consents in writing to such payment, such consent not to be unreasonably withheld, unless a final judgment from which no appeal may be taken by or on behalf of the Indemnified Party is entered against the Indemnified Party for such Third Party Claim. If any such payment is made, and if the Members’ are liable for such matter pursuant to Article IX, such payment, subject to the limitations contained in Article IX, shall constitute a Loss includable in Purchaser Losses or Member Losses (as applicable) for purposes of Section 9.1 or Section 9.2, respectively. Notwithstanding the foregoing, the Indemnifying Party may elect to defend, at the Indemnifying Party’s expense, any Third Party Claim that satisfies each of the following conditions: (i) the Third Party Claim will not have a material effect on the Business, (ii) involves only a claim for monetary damages, (iii) the Indemnifying Party has acknowledged in writing responsibility for the expenses associated with defending the Third Party Claim, (iv) the Indemnified Party reasonably believes that the Indemnifying Party can adequately represent the interests of the Indemnified Party, and (v) the Purchaser Losses in connection with such Third Party claim are not reasonably expected to exceed the maximum amount for which the Indemnified Party would be liable pursuant to Section 9.5. If the Indemnifying Party does not notify the Indemnified Party within thirty (30) days after the receipt of the Indemnified Party’s notice of a Third Party Claim pursuant to Section 9.3(a) that the Indemnifying Party elects to undertake the defense thereof, or if, after commencing or undertaking the defense of any Action, fails to prosecute or withdraws from such defense, the Indemnified Party shall have the right to undertake the defense or settlement thereof.
(c) In the event an Indemnified Party claims a right to payment pursuant to a this Agreement, other than pursuant to a Third Party Claim in accordance with Section 9.3(a), such Indemnified Party will send written notice of such claim or to the commencement appropriate Indemnifying Party. Such notice shall specify the basis for such claim and the amount of such action, suit or proceeding, but claim. The failure by any Indemnified Party so to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability Liability that it may have to such Indemnified Party hereunder with respect to any claim made pursuant to Section 9.1 except to the extent of any actual prejudice suffered by the Indemnifying Party as a direct result of such failure. In the event the Indemnifying Party does not notify the Indemnified Party within 30 days following its receipt of such notice that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at disputes its own expense and by its own counsel who shall be reasonably acceptable Liability to the Indemnified PartyParty under this Article IX or the amount thereof, any the claim specified by the Indemnified Party in such matter notice will be (subject to the limitations provided in this Article IX, including, but not limited to, Purchaser Cap, the P-Project Cap and the Fundamental Obligation Cap as long applicable) conclusively deemed a Purchaser Loss or Member Loss (as the case may be) of the Indemnifying Party pursues under this Article IX, and the same diligently Indemnifying Party will (subject to the limitations provided in this Article IX, including, but not limited to, Purchaser Cap, the P-Project Cap and the Fundamental Obligation Cap as applicable) pay the amount of such Purchaser Loss or Member Loss (as the case may be) to the Indemnified Party owed pursuant to this Article IX to the Indemnified Party on demand or, in good faiththe case of any notice in which the amount of the Purchaser Loss or Member Loss (as the case may be) (or any portion of the claim) is estimated, on such later date when the amount of such Purchaser Loss or Member Loss (as the case may be) to the Indemnified Party owed pursuant to this Article IX becomes finally determined. If the Indemnifying Party undertakes has timely disputed its liability with respect to defend such Purchaser Loss or settleMember Loss (as the case may be) or the amount thereof as provided above, it shall as promptly notify the as possible, such Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the appropriate Indemnifying Party will establish the merits and its counsel in all commercially reasonable respects in amount of such claim (by mutual agreement, litigation, arbitration or otherwise) and, within five (5) Business Days following the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation final non-appealable determination of the Indemnified Party shall be at the cost merits and amount of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defenseclaim, the Indemnifying Party shall will pay (subject to the limitations provided in this Article IX, including, but not be liable for any additional legal expenses incurred by limited to, Purchaser Cap, the P-Project Cap and the Fundamental Obligation Cap as applicable) to the Indemnified Party in connection with any defense or settlement immediately available funds an amount equal to the portion of such asserted liability; provided, however, claim that is determined to be owed pursuant to the Indemnified Party to the terms of this Agreement.
(d) Subject to the Fundamental Obligation Cap, any indemnification obligation of the Members pursuant to this Article IX with respect to Fundamental Obligations shall be entitled satisfied (i) at its expense, to participate in first from the defense of such asserted liability and the negotiations of the settlement thereof Escrow Fund and (ii) if (Awith respect to claims relating solely to Fundamental Obligations) the Indemnifying Party Escrow Fund is insufficient or has failed been fully distributed, by the Members on a joint and several basis (but only with respect to assume Claims relating solely to Fundamental Obligations). Notwithstanding the defense or employ counsel reasonably acceptable foregoing:
(i) any indemnification obligation of the Members pursuant to this Article IX with respect to the Indemnified Party or matter identified as the “S-Project” on Schedule 9.1(j) shall not be subject to the Fundamental Obligation Cap and shall be satisfied (Bi) first from the S-Project Escrow Fund and (ii) if the defendants in S-Project Escrow Fund is insufficient or has been fully distributed, by the Members on a joint and several basis;
(ii) any such action include both indemnification obligation of the Members pursuant to this Article IX with respect to the matters identified as the “T-Project” or the “B-Project” on Schedule 9.1(j) shall not be subject to the Fundamental Obligation Cap and shall be satisfied (i) first from the Escrow Fund and (ii) if the Escrow Fund is insufficient or has been fully distributed, by the Members on a joint and several basis; and
(iii) any indemnification obligation of the Members pursuant to this Article IX with respect to the matters identified as the “P-Project” on Schedule 9.1(j) shall be subject to the P-Project Cap and shall be satisfied (i) first from the Escrow Fund and (ii) if the Escrow Fund is insufficient or has been fully distributed, by the Members on a joint and several basis.
(e) All other claims for indemnification by the Indemnified Party and the Indemnifying Party and counsel Parties shall be subject to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or Purchaser Cap all as provided 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise9.5.
Appears in 2 contracts
Sources: Membership Interest Purchase Agreement, Membership Interest Purchase Agreement (McBc Holdings, Inc.)
Indemnification Procedure. Promptly after any Company Related (a) For the avoidance of doubt, all indemnification claims in respect of a Protiva Indemnitee or Marina Indemnitee shall be made solely by Protiva or Marina, respectively, on behalf of the Protiva Indemnitee or Marina Indemnitee, as the case may be.
(b) A Party or Purchaser Related Party seeking indemnification hereunder (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or shall notify the commencement of any action, suit or proceeding by a third person, which the Indemnified other Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice in writing reasonably promptly after the assertion against the Indemnified Party of such any Claim or fact in respect of which the Indemnified Party intends to base a claim or the commencement of such action, suit or proceedingfor indemnification hereunder (“Indemnification Claim Notice”), but the failure or delay to so notify the Indemnifying Party will shall not relieve the Indemnifying Party from of any obligation or liability that it may have to such the Indemnified Party hereunder Party, except to the extent that the Indemnifying Party demonstrates that its ability to defend or resolve such Claim is materially prejudiced by such failureadversely affected thereby. Such notice The Indemnification Claim Notice shall state contain a description of the claim and the nature and amount of the basis of such claim Claim (to the extent then knownthat the nature and amount of such Claim is known at such time). Upon the request of the Indemnifying Party, the Indemnified Party shall furnish promptly to the Indemnifying Party copies of all correspondence, communications and official documents (including court documents) received or sent in respect of such Claim.
(c) Subject to the provisions of Subsection 11.3(d), the Indemnifying Party shall, within [**] after receipt of the Indemnification Claim Notice, advise the Indemnified Party whether it is assuming the defense and handling of such Claim, at the Indemnifying Party’s sole expense. The assumption of the defense of a Claim by the Indemnifying Party shall not be construed as acknowledgement that the Indemnifying Party is liable to indemnify any indemnitee in respect of the Claim, nor shall it constitute a waiver by the Indemnifying Party of any defenses it may assert against any Indemnified Party’s claim for indemnification. In the event that it is ultimately decided that the Indemnifying Party is not obligated to indemnify or hold an indemnitee harmless from and against the Claim, the Indemnified Party shall reimburse the Indemnifying Party for any and all reasonable costs and expenses (including attorneys’ fees and costs of suit) incurred by the Indemnifying Party in its defense of the Claim.
(d) Upon assumption of the defense of a Claim by the Indemnifying Party:
(i) the Indemnifying Party shall have the right to defend and settleshall assume sole control and responsibility for dealing with the Claim;
(ii) the Indemnifying Party may, at its own expense cost, appoint as counsel in connection with conducting the defense and handling of such Claim any law firm or counsel reasonably selected by its own counsel who the Indemnifying Party and reasonably satisfactory to the Indemnified Party (such consent not to be unreasonably withheld or delayed);
(iii) the Indemnifying Party shall be reasonably acceptable keep the Indemnified Party informed of the status of such Claim; and
(iv) the Indemnifying Party shall have the right to settle the Claim on any terms the Indemnifying Party chooses; provided, however, that it shall not, without the prior written consent of the Indemnified Party, agree to a settlement of any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes Claim which could lead to defend liability for or settle, it shall promptly notify create any financial or other obligation or restriction on the Indemnified Party (or abrogate the license rights granted under this Agreement) for which the Indemnified Party is not entitled to indemnification hereunder or which admits any wrongdoing or responsibility for the Claim on behalf of its intention to do so, and the Indemnified Party. The Indemnified Party shall cooperate with the Indemnifying Party at the Indemnifying Party’s expense. In particular, the Indemnified Party shall furnish such records, information and its counsel testimony, provide witnesses and attend such conferences, discovery proceedings, hearings, trials and appeals as may be reasonably requested in all commercially reasonable respects connection therewith; subject to the right of the Indemnified Party to obtain confidentiality protection in connection therewith consistent with the defense thereof and the settlement thereofconfidentiality provisions of this Agreement. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested include access during normal business hours by the Indemnifying Party to, and in [**] Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. reasonable retention by the Indemnified Party of, records and information that are reasonably relevant to such Claim, and making the Indemnified Party’s possession , the Protiva Indemnitees or controlMarina Indemnitees, as the case may be, and its and their employees and agents available on a mutually convenient basis to provide additional information and explanation of any records or information provided. Such cooperation of the The Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention entitled to undertake to defend or settle any such asserted liabilityparticipate in, and for so long as the Indemnifying Party diligently pursues such defensebut not control, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liabilityClaim with its own counsel and at its own expense; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants litigants in any such action include both the Indemnified Party and the Indemnifying Party and legal counsel to for the Indemnified Party shall have reasonably concluded that there may be reasonable in a written legal opinion delivered to the Indemnifying Party that, by reason of certain bona fide defenses available to the Indemnified Party that which are different from or in addition additional to those available to the Indemnifying Party or if Party, the interests of the Indemnified Party reasonably may be deemed to materially conflict with the interests of the Indemnifying PartyParty such that it would be unethical under applicable rules relating to attorney conflicts of interest for the Indemnifying Party and such Indemnified Party to be represented by the same counsel with respect to such defense, then the Indemnified Party shall have the right to select a one separate counsel and to assume assert such legal defense and otherwise to participate in the defense of such actiondefenses, 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 and when incurred. Notwithstanding any other provision of this Agreement, .
(e) If the Indemnifying Party fails to assume or conduct the defense and handling of any Claim in good faith as provided Subsections 11.3(c) and 11.3(d), the Indemnified Party may, at the Indemnifying Party’s expense, select counsel reasonably acceptable to the Indemnifying Party (such consent not to be unreasonably withheld or delayed) in connection with conducting the defense and handling of such Claim and defend or handle such Claim in such manner as it may deem appropriate; provided, that the foregoing shall not be construed as a limitation on the Indemnified Party’s right to claim that the Indemnifying Party has breached its obligations pursuant to this Article 11. In such event, the Indemnified Party shall keep the Indemnifying Party timely apprised of the status of such Claim and the Indemnified Party shall have the right to settle the Claim on any indemnified claim terms the Indemnified Party chooses; provided, however, that the Indemnified Party shall not, without the prior written consent of the Indemnified Indemnifying Party, unless the agree to a settlement thereof imposes no of any Claim which could lead to liability or create any financial or other obligation onon the part of the Indemnifying Party, and includes a complete release from other than its liability offor indemnification of the Indemnified Party as provided in this Article 11, and does not include or which admits any admission of wrongdoing or malfeasance by, responsibility for the Indemnified claim on behalf of the Indemnifying Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: License Agreement (TEKMIRA PHARMACEUTICALS Corp), License Agreement (TEKMIRA PHARMACEUTICALS Corp)
Indemnification Procedure. (a) Promptly after any Company Related receipt by a Purchaser Indemnified Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received under Section 7.1 of notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the such Purchaser Indemnified Party believes shall, if a Claim in good faith respect thereof is an indemnifiable claim to be made against any Indemnifying Party under this AgreementSection 7.1, notify the Indemnified Indemnifying Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such actionthereof; provided, suit or proceedinghowever, but that failure to so notify the Indemnifying Party will shall not relieve affect the Indemnifying Party from any liability it may have to such Indemnified Party hereunder Party’s obligations hereunder, except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice The Indemnifying Party shall state be entitled to appoint counsel of the nature Indemnifying Party’s choice at the Indemnifying Party’s expense to represent the Purchaser Indemnified Party in any action for which indemnification is sought (in which case the Indemnifying Party shall not thereafter be responsible for the fees and expenses of any separate counsel retained by the basis of Purchaser Indemnified Parties except as set forth below); provided, however, that such claim counsel shall be reasonably satisfactory to the extent then knownPurchaser Indemnified Party. The Notwithstanding the Indemnifying Party’s election to appoint counsel to represent the Purchaser Indemnified Party in an action, the Purchaser Indemnified Party shall have the right to defend employ separate counsel (including local counsel), and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues shall bear the same diligently reasonable fees, costs and in good faith. If expenses of such separate counsel if: (i) the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party use of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested chosen by the Indemnifying Party and in to represent the Indemnified Party’s possession or control. Such cooperation of the Purchaser Indemnified Party shall be at the cost would present such counsel with a conflict of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liabilityinterest; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense actual or employ counsel reasonably acceptable to the Indemnified Party potential defendants in, or (B) if the defendants in targets of, any such action include both the Purchaser Indemnified Party and the Indemnifying Party and counsel to the Purchaser Indemnified Party shall have reasonably concluded that there may be reasonable defenses legal defences available to the it and/or other Purchaser Indemnified Party that Parties which are different from or in addition additional to those available to the Indemnifying Party; (iii) the Indemnifying Party or if shall not have employed counsel reasonably satisfactory to the interests Purchaser Indemnified Party to represent the Purchaser Indemnified Party within 14 days after notice of the institution of such action; or (iv) the Indemnifying Party shall authorize the Purchaser Indemnified Party reasonably to employ separate counsel at the expense of the Indemnifying Party.
(b) No Purchaser Indemnified Party shall, without the prior express written consent of the Indemnifying Party (which consent shall not be unreasonably withheld or delayed), consent to any judgment or effect any settlement of any pending or threatened action, suit or proceeding.
(c) The Indemnifying Party shall not, without the prior express written consent of the Purchaser Indemnified Party, consent to any judgment or effect any settlement of any pending or threatened action, suit or proceeding in respect of which any Purchaser Indemnified Party is or could have been a party and indemnity could have been sought hereunder by such Purchaser Indemnified Party, unless such settlement includes an unconditional release of such Purchaser Indemnified Party from all liability on Claims that are the subject matter of such action, suit or proceeding.
(d) Notwithstanding anything to the contrary in this Article 7, the indemnity obligations in this Article 7 shall cease to apply to the extent that a court of competent jurisdiction in a final judgment that has become non-appealable shall have determined that any loss, liability, Claim, damage and expense whatsoever (including reasonable legal fees and expenses) to which a Purchaser Indemnified Party may be deemed subject were caused solely by the negligence, fraud or wilful misconduct of the Purchaser Indemnified Party.
(e) No Purchaser Indemnified Party shall be entitled to conflict claim indemnity in respect of any special, consequential or punitive damages (including damages for loss of profits) except to the extent (i) such special, consequential or punitive damages are awarded in favour of a third party in connection with a third party Claim; or (ii) a Claim is made for any incorrectness in or breach of any representation or warranty of the interests Company set forth in paragraphs (a), (b), (c), (p) or (t) of Schedule B to this Agreement.
(f) Subject to Section 8.8 and except for any Claims arising from negligence, fraud or wilful misconduct of the Indemnifying Party, then the rights to indemnification set forth in this Article 7 shall be the sole and exclusive remedy of the Purchaser Indemnified Parties (including pursuant to any statutory provision, tort or common law) in respect of: (i) any non-fulfilment or breach of any covenant or agreement on the part of the Company contained in this Agreement or in any certificate furnished by or on behalf of the Company pursuant to this Agreement; or (ii) any misrepresentation or any incorrectness in or breach of any representation or warranty of the Company contained in this Agreement or in any certificate furnished by or on behalf of the Company pursuant to this Agreement, but, for greater certainty, shall not be the sole and exclusive remedy under the Investor Rights Agreement or the Commercialization Agreement.
(g) A Purchaser Indemnified Party shall not be entitled to double recovery for any loss even though such loss may have resulted from the right to select a separate counsel and to assume such legal defense and otherwise to participate breach of one or more representations, warranties or covenants in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Subscription Agreement (Canopy Growth Corp), Subscription Agreement (Canopy Growth Corp)
Indemnification Procedure. Promptly after any Company TLP Related Party or Purchaser Related Party (hereinafter, the “"Indemnified Party”") has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit action or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “"Indemnifying Party”") written notice of such claim or the commencement of such action, suit action or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Partycounsel, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s 's possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or and employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Subordinated Unit Purchase Agreement (TransMontaigne Partners L.P.), Subordinated Unit Purchase Agreement (TransMontaigne Partners L.P.)
Indemnification Procedure. (a) Promptly after any Company Holdings Related Party or Purchaser any Rhino Related Party (hereinafterhereafter, the “Indemnified Party”) has received discovers facts giving rise to a claim for indemnification hereunder, including receipt by it of notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personPerson (a “Third Party Claim”), which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor indemnifying party hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure . Failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent (and then only to the extent) that the Indemnifying Party is can demonstrate that the Indemnifying Party’s rights and obligations pursuant to this Section VI are materially and actually prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then knownknown and shall include a formal demand for indemnification under this Agreement. The Indemnifying Party shall have the right to defend and settlesettle any such matter, at its own expense and by its own counsel who shall be reasonably acceptable counsel; provided, however, that the Indemnifying Party (i) promptly notifies the Indemnified Party of its intention to do so and acknowledges its indemnification obligations pursuant to this Section VI in writing to the Indemnified PartyParty and (ii) pursues such defense (or, any such matter as long as the Indemnifying Party pursues the same if applicable, settlement) diligently and in good faith. If the Indemnifying Party undertakes to defend or settlesettle such claim, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, include furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the sole cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liabilitymatter, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (ix) at its expense, to participate in the defense of such asserted liability matter and the negotiations of the settlement thereof and (iiy) if (Ai) the Indemnifying Party has failed to assume the defense or and employ counsel reasonably acceptable to within 30 days of when the Indemnified Party has provided written notice of such claim for indemnification or fails to diligently and in good faith pursue the defense thereof or (Bii) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. .
(b) Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim or otherwise enter into any final conclusion with respect to such claim without the prior written consent of the Indemnified Party, unless Party (i) if the settlement thereof (A) imposes no liability any Liability or obligation on, and includes a complete release from liability of, and (B) does not include a complete and unconditional release from Liability of or (C) contains any admission of wrongdoing or malfeasance by, the Indemnified Party or (ii) that subjects the Indemnified Party to any non-monetary or other equitable relief or criminal liability or imposes any other obligation on or requires any payment from the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Equity Exchange Agreement (Rhino Resource Partners LP), Equity Exchange Agreement (Royal Energy Resources, Inc.)
Indemnification Procedure. (a) A claim for indemnification for any matter not involving a Third Party Claim may be asserted by written notice to the party from whom indemnification is sought in accordance with the terms and conditions of this Agreement; provided, however, that failure to so notify the Indemnifying Party shall not preclude the Indemnified Party from any indemnification that it may claim in accordance with this ARTICLE V unless and to the extent the Indemnifying Party is materially prejudiced by such failure.
(b) Promptly after any Company Related Party or Purchaser Related Party (hereinafterin such context, the “Indemnified Party”) has received notice of any indemnifiable claim hereunderhereunder from, or the commencement of any action, suit or proceeding by by, a third personperson unaffiliated with either party or its respective Affiliates, which claim the Indemnified Party believes in good faith is an indemnifiable claim under this AgreementAgreement (each, a “Third Party Claim”), the Indemnified Party shall give the indemnitor hereunder (in such context, the “Indemnifying Party”) written notice of such claim or Third Party Claim identifying the commencement nature and the basis of such action, suit or proceedingThird Party Claim to the extent then known, but failure or delay to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then knownfailure or delay. The Indemnifying Party shall have the right to defend assume and control the defense of, and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Partycounsel, any such matter as long as the Indemnifying Party pursues the same diligently and in good faithfaith and irrevocably agrees to provide indemnification hereunder; provided, that notwithstanding anything to the contrary in this Section 6.4, the Indemnifying Party shall not be entitled to assume the defense of any Third Party Claim (and to the extent the Indemnifying Party has assumed the defense, shall transfer control of such defense to the Indemnified Party) if (i) such Third Party Claim seeks equitable relief or such Third Party Claim involves a criminal action, (ii) the Indemnifying Party shall not have assumed the defense of such Third Party Claim within ten (10) Business Days after receipt of notice of such claim for indemnity or (iii) such Third Party Claim exceeds the applicable Cap Amount. If the Indemnifying Party undertakes to defend assume and control the defense or settlesettle such Third Party Claim, it shall promptly promptly, and in no event later than ten (10) Business Days after notice of such claim, notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate in good faith with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and or the settlement thereof. Such Subject to the requirements of applicable Law, any material agreement pursuant to which the Indemnified Party or the Indemnifying Party is bound and the applicability of attorney-client privilege, such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation The Indemnifying Party shall bear all reasonable and documented out-of-pocket costs of the Indemnified Party shall be at associated with such cooperation by the cost of the Indemnifying Indemnified Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defensedefense in good faith, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its own expense, to participate in the defense of such asserted liability and the any negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has has, within ten (10) Business Days after the Indemnified Party provides written notice of a Third Party Claim, failed to (x) assume the defense or employ counsel reasonably acceptable to settlement of such Third Party Claim, and (y) notify the Indemnified Party of such assumption, or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be one or more reasonable defenses available to the Indemnified Party that are different from or 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, then then, in each case, the Indemnified Party shall have the right to select a one (1) separate counsel and and, upon prompt notice to the Indemnifying Party, to assume such settlement or legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this AgreementAgreement to the contrary, the Indemnifying Party shall not settle any indemnified indemnifiable claim hereunder without the consent of the Indemnified PartyParty (which consent shall not be unreasonably withheld), unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include contain any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Sonida Senior Living, Inc.), Securities Purchase Agreement (Levinson Sam)
Indemnification Procedure. Promptly after any Company Related Party or Purchaser Related Party A party claiming the right to indemnification pursuant to this Section 7 (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or shall notify the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder other party (the “Indemnifying Party”) written notice in writing promptly after it becomes aware of such a Loss or claimed Loss, including the assertion of any third-party claim or (“Claim”) upon which the commencement Indemnified Party has a right to base a claim for indemnification hereunder; provided, however, that no delay on the part of such action, suit or proceeding, but failure to so notify the Indemnified Party in notifying the Indemnifying Party will not shall relieve the Indemnifying Party from any liability it may have to such Indemnified Party obligation hereunder except unless and solely to the extent that the Indemnifying Party thereby is materially prejudiced by such failureprejudiced. Such notice shall state the nature and the basis Upon receipt of such claim to notice, the extent then known. The Indemnifying Party shall have the right be entitled to defend and settle, (i) participate at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation investigation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liabilityClaim, and for so long as or (ii) assume the Indemnifying Party diligently pursues such defense, defense thereof in which event the Indemnifying Party shall not be liable to the Indemnified Party for any additional legal expenses or attorneys’ fees thereafter incurred by the Indemnified Party in connection with any defense or settlement of such asserted liabilityClaim; provided, however, that if the Indemnified Party shall be entitled (i) at its expense, to participate in the defense may have any unindemnified liability arising out of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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 PartyClaim, then the Indemnified Party shall have the right to select a separate approve the counsel and to assume such legal defense and otherwise to participate in selected by the Indemnifying Party, which approval shall not be unreasonably withheld. If the Indemnifying Party assumes the defense of such actionany Claim, with the expenses and fees all costs of defense of such separate counsel and other expenses related to such participation to Claim shall thereafter be reimbursed borne by the Indemnifying Party as incurred. Notwithstanding and it shall have the authority to compromise and settle such Claim, or to appeal any other provision adverse judgment or ruling with the costs of this Agreementsuch appeal to be paid by the Indemnifying Party; provided, however, if the Indemnified Party may have any unindemnified liability arising out of such Claim, the Indemnifying Party shall not have the authority to compromise and settle any indemnified claim without each such Claim only with the written consent of the Indemnified Party, unless which consent shall not be unreasonably withheld. The Indemnified Party may continue to participate in the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and litigation of any Claim at its expense after the Indemnifying Party assumes the defense of such Claim. In the event the Indemnifying Party does not include any admission elect to assume the defense of wrongdoing or malfeasance bya third-party Claim within twenty (20) days after receipt of notice of the Claim from the Indemnified Party, the Indemnified Party shall have authority to compromise and settle such Claim at the expense of the Indemnifying Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of , or to appeal any remedies that may adverse judgment or ruling with the costs to be available to a party at law or in equity or otherwisepaid by the Indemnifying Party.
Appears in 2 contracts
Sources: Stock Repurchase Agreement (NTR PLC), Stock Repurchase Agreement (Green Plains Renewable Energy, Inc.)
Indemnification Procedure. Promptly after any Company Related Indemnified Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personPerson, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (ia) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (iib) if (Ai) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (Bii) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense 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. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Securities Purchase Agreement (ASTROTECH Corp), Securities Purchase Agreement (MEI Pharma, Inc.)
Indemnification Procedure. Promptly after any Company Eagle Rock Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit action or proceeding by a third personparty, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit action or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, include furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, involves no admission of wrongdoing or malfeasance by, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided , nor shall the Indemnified Party settle any claim for in this Section 6 are cumulative and are not exclusive of any remedies that which indemnification may be available claimed hereunder without at least three business days notice to a party at law or in equity or otherwisethe Indemnifying Party of the terms and conditions of such settlement.
Appears in 2 contracts
Sources: Common Unit Purchase Agreement (Eagle Rock Energy Partners L P), Common Unit Purchase Agreement (Eagle Rock Energy Partners L P)
Indemnification Procedure. Promptly after any Company Related Party (a) The party or Purchaser Related Party (hereinafter, parties being indemnified are referred to herein as the “Indemnified Party”) has received notice ” and the indemnifying party is referred to herein as the “Indemnifying Party.” In the event that any party shall incur or suffer any Losses in respect of any indemnifiable claim which indemnification may be sought by such party hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder assert a claim for indemnification by written notice (the “Indemnifying PartyIndemnification Notice”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will stating the nature and basis of such claim. In the case of Losses arising by reason of any third party claim, the Indemnification Notice shall be given within thirty (30) days of the filing or other written assertion of any such claim against the Indemnified Party, but the failure of the Indemnified Party to give the Indemnification Notice within such time period shall not relieve the Indemnifying Party from of any liability it that the Indemnifying Party may have to such the Indemnified Party hereunder Party, except to the extent that the Indemnifying Party is materially demonstrates that the defense of such action has been prejudiced by the Indemnified Party’s failure to give such failure. Such notice shall state Indemnification Notice.
(b) In the nature and case of third party claims for which indemnification is sought, the basis of such claim to the extent then known. The Indemnifying Party shall have the right option (i) to conduct any proceedings or negotiations in connection therewith, (ii) to take all other steps to settle or defend any such claim (provided that the Indemnifying Party shall not settle any such claim without the consent of the Indemnified Party (which consent shall not be unreasonably withheld or delayed)), and settle(iii) to employ counsel (reasonably satisfactory to the Indemnified Party) to contest any such claim or liability in the name of the Indemnified Party or otherwise. In any event, the Indemnified Party shall be entitled to participate at its own expense and by its own counsel who shall be reasonably acceptable in any proceedings relating to the Indemnified Party, any such matter as long as the third party claim. The Indemnifying Party pursues shall, within twenty (20) days of receipt of the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settleIndemnification Notice, it shall promptly notify the Indemnified Party of its intention to do soassume the defense of such claim. If (i) the Indemnifying Party shall decline to assume the defense of any such claim, and (ii) the Indemnifying Party shall fail to notify the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation within twenty (20) days after receipt of the Indemnified Party shall be at the cost Indemnification Notice of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake ’s election to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party claim or (Biii) 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 reasonable defenses available to the Indemnified Party that it which are different from or in addition to those available to the Indemnifying Party or if a conflict exists between the interests of Indemnifying Party and the Indemnified Party reasonably may be deemed to conflict with the interests of the Indemnifying Party, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate (in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, which case the Indemnifying Party shall not have the right to direct the defense of such action on behalf of the Indemnified Party), the Indemnified Party shall defend against such claim and the Indemnified Party may settle any indemnified such claim without the consent of the Indemnifying Party, and the Indemnifying Party may not challenge the reasonableness of any such settlement. The expenses of all proceedings, contests or lawsuits in respect of such claims shall be borne and paid by the Indemnifying Party (up to a limit of one counsel in the case of attorneys’ fees) and the Indemnifying Party shall pay the Indemnified Party, unless in immediately available funds, as such Losses are incurred upon receipt of supporting documentation thereof. Regardless of which party shall assume the settlement defense of the claim, the parties agree to cooperate fully with one another in connection therewith. In the event that any Losses incurred by the Indemnified Party do not involve payment by the Indemnified Party of a third party claim, then, the Indemnifying Party shall pay, within ten (10) days after agreement on the amount of Losses or the occurrence of a determination of such amount payable, to the Indemnified Party, in immediately available funds, the amount of such Losses. Anything in this Section 5.3 to the contrary notwithstanding, the Indemnifying Party shall not, without the Indemnified Party’s prior written consent, settle or compromise any pending or threatened claim, action or proceeding or consent to entry of any judgment in respect thereof which imposes no liability any future obligation on the Indemnified Party, or obligation onwhich does not include, and includes as an unconditional term thereof, the giving by the claimant or plaintiff to the Indemnified Party, a complete release from all liability ofin respect of such claim, action or proceeding and which does not include any a statement as to or admission of wrongdoing fault, culpability or malfeasance by, the failure to act by or on behalf of any Indemnified Party. .
(c) The remedies provided for in this Section 6 are cumulative and are Article V shall not be exclusive of any other rights or remedies that may be available to a one party against the other, either at law or in equity equity.
(d) (A) In the event that an Indemnified Party is requested or otherwiserequired to appear as a witness in any action arising from transactions contemplated by the Transaction Documents brought by or on behalf of or against the Adviser, the Fund or any of their affiliates in which such Indemnified Party is not named as a defendant, the Adviser agrees to reimburse the Warranty Provider for all reasonable expenses incurred by it in connection with such Indemnified Party’s appearing and preparing to appear as such a witness, including, without limitation, the reasonable fees and disbursements of its legal counsel, and to compensate the Warranty Provider in an amount to be mutually agreed upon.
Appears in 2 contracts
Sources: Assignment, Consent and Amendment Agreement (DWS Target Fund), Financial Warranty Agreement (DWS Target Fund)
Indemnification Procedure. Promptly after any Company Linn Energy Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit action or proceeding by a third personparty, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit action or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, include furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, involves no admission of wrongdoing or malfeasance by, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Unit Purchase Agreement (Linn Energy, LLC), Class D Unit and Unit Purchase Agreement (Linn Energy, LLC)
Indemnification Procedure. Promptly after any Company Related Indemnified Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personPerson, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) Company written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party Company will not relieve the Indemnifying Party Company from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party Company is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party Company shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party Company pursues the same diligently and in good faith. If the Indemnifying Party Company undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party Company and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party Company with any books, records and other information reasonably requested by the Indemnifying Party Company and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying PartyCompany. After the Indemnifying Party Company has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party Company diligently pursues such defense, the Indemnifying Party Company shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party Company has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party Company and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or in addition to those available to the Indemnifying Party Company or if the interests of the Indemnified Party reasonably may be deemed to conflict with the interests of the Indemnifying PartyCompany, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party Company as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party Company shall not settle any indemnified claim without the written consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Local Bounti Corporation/De), Securities Purchase Agreement (Local Bounti Corporation/De)
Indemnification Procedure. Promptly after any Company Related Indemnified Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit action or proceeding by a third personparty, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit action or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, include furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, involves no admission of wrongdoing or malfeasance by, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Common Unit Purchase Agreement (EV Energy Partners, LP), Common Unit Purchase Agreement (EV Energy Partners, LP)
Indemnification Procedure. Promptly after any Company Related Party Purchaser or Purchaser Related Party Optimer (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense 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. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the prior written consent of the Indemnified Party, such consent not to be unreasonably withheld, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 ARTICLE VI are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Series a Convertible Preferred Stock Purchase Agreement (Cubist Pharmaceuticals Inc), Series a Convertible Preferred Stock Purchase Agreement (Optimer Pharmaceuticals Inc)
Indemnification Procedure. (a) A claim for indemnification for any matter not involving a Third Party Claim may be asserted by written notice to the party from whom indemnification is sought; provided, however, that failure to so notify the indemnifying party shall not preclude the indemnified party from any indemnification that it may claim in accordance with this Article V unless and to the extent the Indemnifying Party is materially prejudiced by such failure, except as otherwise provided in Sections 5.1 and 5.2.
(b) Promptly after any Company Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an indemnifiable claim under this AgreementAgreement (each, a “Third Party Claim”), the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, Third Party Claim but failure or delay to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failurefailure or delay. Such notice shall state the nature and the basis of such claim Third Party Claim to the extent then known. The Indemnifying Party shall have the right to defend assume and control the defense of, and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Partycounsel, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend assume and control the defense or settlesettle such Third Party Claim, it shall promptly promptly, and in no event later than ten (10) business days after notice of such claim, notify the Indemnified Party of its intention to do so, and the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and and/or the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its own expense, to participate in the defense of such asserted liability and the any negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has has, within fifteen (15) business days of when the Indemnified Party provides written notice of a Third Party Claim, failed to (y) assume the defense or employ counsel reasonably acceptable to settlement of such Third Party Claim and (z) notify the Indemnified Party of such assumption, or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then then, in each case, the Indemnified Party shall have the right to select a one (1) separate counsel and and, upon prompt notice to the Indemnifying Party, to assume such settlement or legal defense and otherwise to participate in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not include contain any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise.
Appears in 2 contracts
Sources: Investment Agreement (Signet Jewelers LTD), Investment Agreement (Graftech International LTD)
Indemnification Procedure. (a) Promptly after any Company Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third personPerson, which the Indemnified Party believes in good faith is an indemnifiable claim under this AgreementAgreement (each a “Third-Party Claim”), the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim Third-Party Claim or the commencement of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall state the nature and the basis of such claim Third-Party Claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified Party shall reasonably cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however, provided that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has has, within 10 business days of when the Indemnified Party provides written notice of a Third-Party Claim, failed to (1) assume the defense or employ counsel reasonably acceptable to the Indemnified Party and (2) notify the Indemnified Party of such assumption within such 10 business day period or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available to the Indemnified Party that are different from or 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, then the Indemnified Party shall have the right to select a one separate counsel (plus appropriate local counsel) and to assume such legal defense and otherwise to participate in the defense of such action, with the documented and out-of-pocket expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim Third-Party Claim without the consent of the Indemnified PartyParty (which consent shall not be unreasonably delayed), unless the settlement thereof is for money damages only and imposes no liability or obligation on, and includes a complete release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies provided for in this Section 6 are cumulative and are not exclusive .
(b) Notwithstanding anything to the contrary herein, each Indemnified Party shall use its commercially reasonable efforts to mitigate to the extent required by Law the amount of any remedies that may be available costs, losses, liabilities, Damages, or expenses of any kind or nature whatsoever for which it is indemnified pursuant to a party at law or in equity or otherwisethis Article VI.
Appears in 2 contracts
Sources: Series B Preferred Stock Purchase Agreement (Charah Solutions, Inc.), Series a Preferred Stock Purchase Agreement (Charah Solutions, Inc.)