Common use of Indemnity and Contribution Clause in Contracts

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, agrees to indemnify and hold harmless each Agent, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, or arising out of or based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities are arising out or based upon any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Information. (b) Each Agent agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s directors, officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agent, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Information. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or 9(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a) or 9(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction Entities, on the one hand, and of the Agents, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and the total discounts and commissions received by the Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price of the Shares. The relative fault of the Transaction Entities, on the one hand, and the Agents, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities or by the Agents and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities and the Agents agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 4 contracts

Sources: Distribution Agreement (Plymouth Industrial REIT, Inc.), Distribution Agreement (Plymouth Industrial REIT Inc.), Distribution Agreement (Plymouth Industrial REIT, Inc.)

Indemnity and Contribution. (a) Each of the Transaction EntitiesThe Fund and Saratoga Investment Advisors, jointly and severally, agrees agree to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act and each partner, director, officer, trustee, manager, member and shareholder of any Underwriter (each, an “Agent Underwriter Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) ), caused by, arising out of of, related to or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, the Preliminary Prospectus, any preliminary prospectusOmitting Prospectus, any Road Show Material, the Time of Sale Prospectus, or the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectusthereto, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities are arising out or based upon caused by any such untrue statement or omission or alleged untrue statement or omission made in based upon written information furnished to the Registration Statement Fund or Saratoga Investment Advisors by the Representative on behalf of any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent InformationUnderwriter expressly for use therein. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entityof the Fund and Saratoga Investment Advisors, the Company’s and each of their respective partners, directors, officers trustees, managers, members and shareholders (as the case may be), and each officer of the Fund who signed signs the Registration Statement and each person, if any, who controls either of the Transaction Entities Fund and/or Saratoga Investment Advisors within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, a “Fund Indemnified Party”) to the same extent as the foregoing indemnity from the Transaction Entities Fund and Saratoga Investment Advisors to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made written information relating to the Underwriters furnished to the Fund by the Representative on behalf of any Underwriter expressly for use in the Registration Statement Statement, as originally filed with the Commission, or any amendment thereof, the Prospectus or any amendment or supplement thereto or preliminary prospectus, any Permitted Free Writing Omitting Prospectus, in reliance upon and in conformity with any Road Show Material or the Agent InformationTime of Sale Prospectus. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements reasonably incurred of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the use of counsel chosen by the indemnifying party to represent the indemnified party would present such counsel with an actual conflict of interest, or (iii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that and/or other indemnified parties which are different from or in addition additional to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses reasonably incurred of more than one separate firm (in addition to one any local counsel) for all such indemnified parties Underwriter Indemnified Parties, collectively, and that all such reasonable (ii) the fees and expenses shall be reimbursed as they are incurredreasonably incurred of more than one separate firm (in addition to any local counsel) for all Fund Indemnified Parties, collectively. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriter Indemnified Parties, then such firm shall be designated in writing by the Agents, in Representative. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Fund Indemnified Parties, and such firm shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)Fund. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be is a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for the reasonable fees and expenses of counsel as contemplated by the second and third sentences of this paragraphSection 8(c), the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; , (ii) such indemnifying party shall have received notice of the material terms of such settlement at least 30 days prior to such settlement being entered into, and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyproceeding. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Fund and/or Saratoga Investment Advisors on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares Securities or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Fund and/or Saratoga Investment Advisors on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Fund and/or Saratoga Investment Advisors on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares Securities shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares Securities (before deducting expenses) received by the Transaction Entities Fund and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Price net proceeds of the SharesSecurities. The relative fault of the Transaction Entities, Fund and/or Saratoga Investment Advisors on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Fund or Saratoga Investment Advisors or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions aggregate principal amount of Securities they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Fund, Saratoga Investment Advisors and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts price at which the Securities underwritten by it and commissions received by such Agent in connection with distributed to the offering of public were offered to the Shares public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Fund and Saratoga Investment Advisors contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent Underwriter Indemnified Party or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity Fund Indemnified Party and (iii) any acceptance of and payment for any of the SharesSecurities. (g) For purposes No party shall be entitled to indemnification under this Section 8 if such indemnification of clarity and without limitation to any provision of this Agreement, the obligations such party would violate Section 17(i) of the Agents under this Agreement are several and not jointInvestment Company Act.

Appears in 4 contracts

Sources: Underwriting Agreement (Saratoga Investment Corp.), Underwriting Agreement (Saratoga Investment Corp.), Underwriting Agreement (Saratoga Investment Corp.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees its officers and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), or the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities or arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through you expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through you consists of the information described as such in paragraph (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through you expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing thereto; it being understood and agreed upon that the only such information furnished by the Underwriters consists of the following information in the Prospectus furnished on behalf of the Underwriters: the names and corresponding principal amounts set forth in the table of Underwriters under the first paragraph of text under the caption “Underwriting” and the information contained under the captions “Underwriting—Stabilization” concerning stabilizing transactions by the Underwriters and “Underwriting—Electronic Prospectus, ” concerning Prospectuses in reliance upon and in conformity with electronic format that may be made available on websites by the Agent InformationUnderwriters. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a‎8(a) or 9(b‎8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred, documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed in writing to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the Agentsyou, in the case of parties indemnified pursuant to Section 9(a‎8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b‎8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyproceeding. (d) To the extent the indemnification provided for in Section 9(a‎8(a) or 9(b‎8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i‎8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i‎8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 ‎8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 ‎8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d‎8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d‎8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9‎8, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 ‎8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 ‎8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 4 contracts

Sources: Underwriting Agreement (Plug Power Inc), Underwriting Agreement (Plug Power Inc), Underwriting Agreement (Plug Power Inc)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each Agentthe Underwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent the Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of the Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any reasonably incurred and documented legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (eacha “road show”), an “Agent Indemnified Party”the Prospectus or any amendment or supplement thereto, or any Testing-the-Waters Communication, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any such untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to the Underwriter furnished to the Company in writing by the Underwriter expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriter consists of the information described as such in paragraph (c) below. (b) The Selling Shareholder agrees to indemnify and hold harmless the Underwriter, each person, if any, who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such lossesbut only with reference to the Selling Shareholder Information relating to the Selling Shareholder. The liability of the Selling Shareholder under the representations and warranties contained in this Agreement and under the indemnity and contribution agreements contained in this Section 11 shall be limited to an amount equal to the aggregate net proceeds after underwriting commissions and discounts, claimsbut before expenses, damages or liabilities are arising out or based upon any such untrue statement or omission or alleged untrue statement or omission made in received by the Registration Statement or any amendment thereof, Selling Shareholder from the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with sale of Shares sold by the Agent InformationSelling Shareholder under this Agreement. (bc) Each Agent The Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Company, the Selling Shareholder, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or any Selling Shareholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such Agentaction or claim) that arise out of, but only with respect to or are based upon, any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, or the Prospectus or any amendment or supplement thereto thereto, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to the Underwriter furnished to the Company in writing by the Underwriter expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or the Prospectus or any Permitted Free Writing amendment or supplement thereto, it being understood and agreed upon that the only such information furnished by the Underwriter consists of the following information in the Prospectus: the information concerning stabilizing transactions, short sales and other information appearing in reliance upon and in conformity with the Agent Informationtwelfth paragraph under the caption “Underwriting. (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a‎11(a), ‎11(b) or 9(b‎11(c), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred and documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the reasonably incurred and documented fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, ; (ii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party; (iii) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party; and (iv) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for the Underwriter and all persons, if any, who control the Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of the Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section and (iii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Selling Shareholder and all persons, if any, who control any Selling Shareholder within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriter and such control persons and affiliates of the Underwriter, then such firm shall be designated in writing by the Agents, in Underwriter. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in Company. In the case of parties indemnified pursuant to Section 9(b)any such separate firm for the Selling Shareholder and such control persons of the Selling Shareholder, such firm shall be designated in writing by the Selling Shareholder. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such the indemnified party, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (de) To the extent the indemnification provided for in Section 9(a‎11(a), ‎11(b) or 9(b‎11(c) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i‎11(e)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i‎11(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company and the Selling Shareholder on the one hand, hand and the Agents, Underwriter on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and the total discounts and commissions received by the Agents in connection with the offering of the Shares, Selling Shareholder bear to the aggregate Gross Sales Price result of the Sharesprice at which the Underwriter sells the Shares less the price at which the Underwriter purchases the Shares from the Selling Shareholder. The relative fault of the Transaction Entities, Company and the Selling Shareholder together on the one hand, and the Agents, Underwriter on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by either the Transaction Entities Company or the Selling Shareholder or by the Agents Underwriter, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (ef) The Transaction Entities Company, the Selling Shareholder and the Agents Underwriter agree that it would not be just or equitable if contribution pursuant to this Section 9 ‎11 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d‎11(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d‎11(e) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9‎11, no Agent the Underwriter shall not be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent the Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 ‎11 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fg) The indemnity and contribution provisions contained in this Section 9 ‎11 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company and the Selling Shareholder contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agentthe Underwriter, any person controlling any Agent the Underwriter or any affiliate of any Agent the Underwriter, or by or on behalf of any Transaction Entity Selling Shareholder or any person controlling any Selling Shareholder, or by or on behalf of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 4 contracts

Sources: Underwriting Agreement (Maple Holdings B.V.), Underwriting Agreement (Keurig Dr Pepper Inc.), Underwriting Agreement (Maple Holdings B.V.)

Indemnity and Contribution. (a) 5.1. Each of the Transaction Entities, jointly and severally, Underwriter agrees to indemnify and hold harmless each Agentthe other Underwriters, its affiliatesofficers, directors, officerspartners, members employees, agents, and employees counsel and each person, if any, who controls any Agent such Underwriter within the meaning of either Section 15 of the Act or Section 20 20(a) of the Exchange Act ("Control Persons"), with respect to written information provided to the Company by such Underwriter as stated in Section 2(c) of the Underwriting Agreement, to the extent and upon the terms which the Underwriters agree to indemnify and hold harmless the Company as set forth in the Underwriting Agreement. 5.2. Each Underwriter will pay as contribution, its ratable share (based upon the number of Units underwritten by each) of any losses, an “Agent Indemnified Party”) from and against any and all lossesliabilities, claims, damages and liabilities (includingor damages, without limitationjoint or several, paid or incurred by any legal Underwriter to any person other than an Underwriter, arising out of, based upon, or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising out of or based upon any untrue statement or alleged untrue statement of a any material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Registration Statement, the Prospectus (as from time to time amended or supplemented), any amendment or supplement thereto or any Permitted Free Writing Prospectusthereto, or arising out in any application or other document or communication executed by or on behalf of the Company or based upon written information furnished by or on behalf of the Company filed in any jurisdiction in order to qualify the Units under the "blue sky" or securities laws thereof or filed with the Commission or any securities exchange, or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities are arising out or based upon any such untrue statement or omission or alleged untrue misleading (other than a statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with written information furnished to the Agent InformationCompany as stated in Section 2(c) of the Underwriting Agreement with respect to any Underwriter by or on behalf of such Underwriter expressly for inclusion therein); and will pay its pro rata portion of all attorney's fees and any and all expenses whatsoever reasonably incurred in investigating, preparing, or defending against any such loss, liability, claim, or damage, or any action in respect thereof and any amounts paid in settlement of any claim or litigation. In determining the amount of each of the Underwriters' obligation under this Section 5, appropriate adjustment will be made to reflect any amounts received by any Underwriter in respect of such untrue statement, alleged untrue statement, omission, or alleged omission from the Company pursuant to Section 10 of the Underwriting Agreement or otherwise. There shall be credited against any amount paid or payable by the Underwriters pursuant to this Section 5.2 any loss, liability, claim, damage, or expense which is reasonably incurred as a result of any such claim asserted against the Underwriters (other than fees and disbursements of an Underwriter's separate counsel if such counsel is not jointly approved by the Underwriters as provided in the next sentence), and if such loss, liability, claim, damage, or expense is incurred by the Underwriters subsequent to any payment by the Underwriters pursuant to this Section 5.2, appropriate provision shall made to effect such credit, by refund or otherwise. If any such claim is asserted or any action in connection therewith as we jointly deem necessary or desirable, including retaining counsel for the Underwriters, and in the Underwriters' joint discretion separate counsel for any particular Underwriter and the fees and disbursements of any counsel so retained shall be included in the amounts payable pursuant to this Section 5.2. (b) Each Agent agrees5.3. The indemnity and contribution contained in this Section 5 shall remain operative and in full force and effect regardless of any investigation made by or on behalf of such other Underwriter or its officers, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s directors, officers who signed the Registration Statement and each personpartners, employees, agents, counsel, or Control Persons (if any) and shall survive the delivery of the Units to the Underwriters and the termination of this Agreement. In determining amounts payable pursuant to Section 5.2 hereof, any loss, liability, claim, damage or expense incurred by any person who controls either of the Transaction Entities any Underwriter within the meaning of either Section 15 of the Act or Section 20 any Underwriter which has been incurred by reason of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agent, but only with respect to untrue statements control or omissions, or alleged untrue statements or omissions, made in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Information. (c) In case any proceeding (including any governmental investigation) other relationship shall be instituted involving any person in respect of which indemnity may be sought pursuant deemed to Section 9(a) or 9(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently have been incurred by such indemnified party in connection with the defense thereofUnderwriter. In any such proceeding, any indemnified party Any Underwriter shall have the right to retain employ its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to Underwriter. No Underwriter may settle any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual claim or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, action without the prior written consent of the indemnified party, effect any settlement other. Whenever an Underwriter receives notice of the assertion of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a) or 9(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction Entities, on the one hand, and of the Agents, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and the total discounts and commissions received by the Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price of the Shares. The relative fault of the Transaction Entities, on the one hand, and the Agents, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact claim or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities or by the Agents and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities and the Agents agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 95.2 hereof would be applicable, no Agent shall be required such Underwriter will give prompt notice thereof to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equityother Underwriter. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 4 contracts

Sources: Underwriting Agreement (Protosource Corp), Underwriting Agreement (Protosource Corp), Underwriting Agreement (Protosource Corp)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, affiliates (within the meaning of Rule 405 under the Securities Act) and each of its and their respective directors, officers, members members, employees, representatives and employees agents and each person, if any, who controls any Agent within each Underwriter with the meaning of either Section 15 of the Securities Act or of Section 20 of the Exchange Act (eachcollectively, the “Underwriter Indemnified Parties,” and each an “Agent Underwriter Indemnified Party”) from and against any and all losses, claims, damages damages, expenses and liabilities (includingor any action, without limitationinvestigation or proceeding in respect thereof to which such Underwriter Indemnified Party may become subject, any legal under the Securities Act or other expenses reasonably incurred in connection with defending otherwise, insofar as such losses, claims, damages, expenses, liabilities, actions, investigations or investigating any such action or claim) arising proceedings arise out of or is based upon (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Written Testing-the-Waters Communication, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or the Prospectus or any amendment or supplement thereto or in any Permitted Free Writing Prospectusother materials or information provided to investors by, or arising out of with the approval of, the Company in connection with the offering, including, without limitation, in any “road show” (as defined in Rule 433 under the Securities Act) for the offering (the “Marketing Materials”), or based upon (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages damages, expenses or liabilities actions, investigations or proceedings arise out of or are arising out or based upon any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with written information furnished to the Agent InformationCompany by any Underwriter expressly for use therein, which information the parties hereto agree is limited to the Underwriters’ Information (as defined in Section 16), or (iii) any act or failure to act, or any alleged act or failure to act, by any Underwriter in connection with, or relating in any manner to, the offering, and which is included as part of or referred to in any loss, claim, damage, expense, liability, action, investigation or proceeding arising out of or based upon matters covered by subclause (i) or (ii) above of this Section 9(a) (provided that the Company shall not be liable in the case of any matter covered by this subclause (iii) to the extent that it is determined in a final judgment by a court of competent jurisdiction that such loss, claim, damage, expense or liability resulted directly from any such act or failure to act undertaken or omitted to be taken by such Underwriter through its gross negligence or willful misconduct), and shall reimburse the Underwriter Indemnified Party promptly upon demand for any legal fees or other expenses reasonably incurred by that Underwriter Indemnified Party in connection with investigating, or preparing to defend, or defending against, or appearing as a third party witness in respect of, or otherwise incurred in connection with, any such loss, claim, damage, expense, liability, action, investigation or proceeding, as such fees and expenses are incurred. This indemnity agreement is not exclusive and will be in addition to any liability, which the Company might otherwise have and shall not limit any rights or remedies which may otherwise be available at law or in equity to each Underwriter Indemnified Party. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Company, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (collectively, the “Company Indemnified Parties” and each a “Company Indemnified Party”) from and against any and all losses, claims, damages, expenses and liabilities (or any action, investigation or proceeding in respect thereof) to which such Company Indemnified Party may become subject under the same extent Securities Act or otherwise, insofar as the foregoing indemnity from the Transaction Entities to such Agentloss, but only with respect to claim, damage, expense, liability, action, investigation or proceeding arises out of or is based upon (i) any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or the Prospectus (as amended or supplemented if the Company shall have furnished any amendment amendments or supplement thereto supplements thereto), (ii) any omission or any Permitted Free Writing Prospectusalleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only in each case (i) and (ii) to the extent that the untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information furnished to the Agent InformationCompany by the Underwriters specifically for use therein, which information the parties hereto agree is limited to the Underwriters’ Information (as defined in Section 16) and to reimburse the Company for any legal or other expenses reasonably incurred by such party in connection with investigating or preparing to defend or defending against or appearing as third party witness in connection with any such loss, claim, damage, liability, action, investigation or proceeding, as such fees and expenses are incurred. Notwithstanding the provisions of this Section 9(b), in no event shall any indemnity by an Underwriter under this Section 9(b) exceed the total compensation received by such Underwriter in accordance with Section 2. (c) In case Promptly after receipt by an indemnified party under this Section 9 of notice of the commencement of any proceeding action, the indemnified party shall, if a claim in respect thereof is to be made against an indemnifying party under this Section 9, notify such indemnifying party in writing of the commencement of that action; provided, however, that the failure to notify the indemnifying party shall not relieve it from any liability which it may have under this Section 9 except to the extent it has been materially prejudiced (including by the forfeiture of substantial rights and defenses) by such failure; and, provided, further, that the failure to notify an indemnifying party shall not relieve it from any governmental investigation) liability which it may have to an indemnified party otherwise than under this Section 9. If any such action shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or 9(b), such person (the “brought against an indemnified party”) , and it shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and party thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it shall electwishes, jointly with any other similarly notified indemnifying party similarly notifiedparty, to assume the defense thereof, of such action with counsel reasonably satisfactory to the indemnified party to represent (which counsel shall not, except with the written consent of the indemnified party and any others party, be counsel to the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceedingparty). After notice from the indemnifying party to such the indemnified party of its election so to assume the defense thereof of such action, except as provided herein, the indemnifying party shall not be liable to the indemnified party under such subsection Section 7 for any legal expenses of other counsel or any other expenses subsequently incurred by such the indemnified party in connection with the defense thereof. In any of such proceedingaction other than reasonable costs of investigation; provided, however, that any indemnified party shall have the right to retain its own counsel, employ separate counsel in any such action and to participate in the defense of such action but the fees and expenses of such counsel (other than reasonable costs of investigation) shall be at the expense of such indemnified party unless (i) the indemnifying party and employment thereof has been specifically authorized in writing by the Company in the case of a claim for indemnification under Section 9(a) or the Managers in the case of a claim for indemnification under Section 9(b), (ii) such indemnified party shall have mutually agreed been advised by its counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the retention of such counselindemnifying party, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain assume the defense of such action and employ counsel reasonably satisfactory to the indemnified party within a reasonable period of time after notice of the commencement of the action or (iv) the indemnifying party does not diligently defend the action after assumption of the defense, in which case, if such indemnified party shall have reasonably concluded notifies the indemnifying party in writing that there may be legal defenses available it elects to it that are different from or in addition to those available to employ separate counsel at the expense of the indemnifying party. It is understood , the indemnifying party shall not have the right to assume the defense of (or, in the case of a failure to diligently defend the action after assumption of the defense, to continue to defend) such action on behalf of such indemnified party and the indemnifying party shall be responsible for legal or other expenses subsequently incurred by such indemnified party in connection with the defense of such action; provided, however, that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding one such action or separate but substantially similar or related proceedings actions in the same jurisdictionjurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees and expenses of more than one separate firm (in addition to one local counsel) of attorneys at any time for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect (in addition to assume the defenseany local counsel), then such which firm shall be designated in writing by the Agents, in Managers if the case indemnified parties under this Section 9 consist of parties indemnified pursuant to Section 9(a), and any Underwriter Indemnified Party or by the Company in if the case of indemnified parties indemnified pursuant to under this Section 9(b). The indemnifying party shall not be liable for any settlement 9 consist of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiffCompany Indemnified Parties. Subject to this Section 9(c), the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability amount payable by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for under Section 9 shall include, but not be limited to, (x) reasonable legal fees and expenses of counsel to the indemnified party and any other expenses in investigating, or preparing to defend or defending against, or appearing as contemplated by the second a third party witness in respect of, or otherwise incurred in connection with, any action, investigation, proceeding or claim, and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any (y) all amounts paid in settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered intoforegoing. No indemnifying party shall, without the prior written consent of the indemnified partyparties, effect any settlement settle or compromise or consent to the entry of judgment with respect to any pending or threatened proceeding action or any claim whatsoever, in respect of which any indemnification or contribution could be sought under this Section 9 (whether or not the indemnified party is parties are actual or could have been a party and indemnity could have been sought hereunder by such indemnified partypotential parties thereto), unless such settlement settlement, compromise or consent (xi) includes an unconditional release of such each indemnified party, party in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter arising out of such proceeding action or claim and (yii) does not include any a statement as to or any an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. Subject to the provisions of the following sentence, no indemnifying party shall be liable for settlement of any pending or threatened action or any claim whatsoever that is effected without its written consent (which consent shall not be unreasonably withheld or delayed), but if settled with its written consent, if its consent has been unreasonably withheld or delayed or if there be a judgment for the plaintiff in any such matter, the indemnifying party agrees to indemnify and hold harmless any indemnified party from and against any loss or liability by reason of such settlement or judgment. In addition, if at any time an indemnified party shall have requested that an indemnifying party reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated herein effected without its written consent if (i) such settlement is entered into more than forty-five (45) days after receipt by such indemnifying party of the request for reimbursement, (ii) such indemnifying party shall have received notice of the terms of such settlement at least thirty (30) days prior to such settlement being entered into and (iii) such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement. (d) To the extent If the indemnification provided for in Section 9(a) or 9(b) is unavailable or insufficient to hold harmless an indemnified party under Section 9(a) or insufficient in respect of any losses, claims, damages or liabilities referred to therein9(b), then each indemnifying party under such paragraphsection shall, in lieu of indemnifying such indemnified party thereunderparty, shall contribute to the amount paid paid, payable or payable otherwise incurred by such indemnified party as a result of such lossesloss, claimsclaim, damages damage, expense or liabilities liability (or any action, investigation or proceeding in respect thereof), as incurred, (i) in such proportion as is shall be appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares Offered ADSs, or (ii) if the allocation provided by clause (i) above of this Section 9(d) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above of this Section 9(d) but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other handwith respect to the statements, in connection with the statements omissions, acts or omissions that failures to act which resulted in such lossesloss, claimsclaim, damages damage, expense or liabilitiesliability (or any action, investigation or proceeding in respect thereof) as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, in connection with respect to the offering of the Shares Offered ADSs shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares Offered ADSs (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the SharesOffered ADSs. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company on the one hand or by the Agents Underwriters on the other, the intent of the parties and the parties’ their relative intent, knowledge, access to information and opportunity to correct or prevent such statement untrue statement, omission, act or omissionfailure to act; provided that the parties hereto agree that the written information furnished to the Company by the Underwriters for use in the Preliminary Prospectus, any Registration Statement or the Prospectus, or in any amendment or supplement thereto, consists solely of the Underwriters’ Information as defined in Section 16. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or and equitable if contribution contributions pursuant to this Section 9 9(d) were to be determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take into account of the equitable considerations referred to in this Section 9(d). The amount paid or payable by an indemnified party as a result of the lossesloss, claimsclaim, damages and liabilities damage, expense, liability, action, investigation or proceeding referred to above in this Section 9(d) shall be deemed to include, subject to the limitations set forth abovefor purposes of this Section 9(d), any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9investigating, no Agent shall be required preparing to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.defend o

Appears in 3 contracts

Sources: Underwriting Agreement (Gw Pharmaceuticals PLC), Underwriting Agreement (Gw Pharmaceuticals PLC), Underwriting Agreement (Gw Pharmaceuticals PLC)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim, but excluding loss of profits and other consequential damages) (collectively, “Damages”) arising out of any misrepresentation or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectusprospectus (including the Canadian Preliminary Prospectus), the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any marketing materials, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, or the Prospectuses or any Permitted Free Writing Prospectusamendment or supplement thereto, or any Testing-the-Waters Communication, or arising out of any misrepresentation or based upon any omission or alleged misrepresentation or omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities Damages are arising out or based upon of any such misrepresentation or untrue statement or omission or alleged misrepresentation or untrue statement or omission based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through you expressly for use therein, it being understood and agreed that the only such information furnished by any Underwriter consists of the information described as such in paragraph (b) below. The rights of indemnity contained in this paragraph will not inure to the benefit of an indemnified party in respect of a claim other than a claim made in under U.S. securities laws if the Registration Statement person asserting the claim was not provided by or on behalf of the Underwriters with a copy furnished promptly by the Company of any Prospectus or any amendment thereof, or supplement thereto which would have corrected any misrepresentation which is the Prospectus or any Permitted Free Writing Prospectus, in reliance upon basis of the claim and in conformity with which was required under Canadian Securities Laws to be delivered to that person by the Agent InformationUnderwriters. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Company, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through you expressly for use in the Registration Statement or Statement, any amendment thereofpreliminary prospectus (including the Canadian Preliminary Prospectus), the Prospectus Time of Sale Prospectus, any issuer free writing prospectus, marketing materials, road show, or the Prospectuses or any amendment or supplement thereto or thereto, it being understood and agreed that the only such information furnished by any Permitted Free Writing Underwriter consists of the following information in the Prospectuses furnished on behalf of each Underwriter: the information contained in the eleventh through fourteenth paragraphs under the caption “Plan of Distribution” in the Time of Sale Prospectus and the U.S. Final Prospectus, in reliance upon and in conformity with the Agent Information. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonable fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the reasonable fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the indemnifying party has failed within a reasonable time to retain counsel for the indemnified party in accordance with the preceding sentence, or (iii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel, which shall include counsel in each of the United States and Canada in the case of a matter involving U.S. and Canadian law) for all such indemnified parties Underwriters and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act and (ii) the fees and expenses of more than one separate firm (in addition to any local counsel, which shall include counsel in each of the United States and Canada in the case of a matter involving U.S. and Canadian law) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons and affiliates of any Underwriters, then such firm shall be designated in writing by the Agents, Managers authorized to appoint counsel under this Section set forth in Schedule I hereto. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for reasonable fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 60 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless (i) such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (yii) does not include any a statement as to to, or any an admission of of, fault, culpability or a failure to act by or on behalf of any an indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities Damages referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities Damages (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares Offering or (ii) if the allocation provided by clause (i10(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i10(d)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as Damages and any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares Offering shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares Offering (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents in connection with the offering of the Shares, Underwriters bear to the aggregate Gross Sales Price initial public offering price of the SharesShares set forth in the U.S. Final Prospectus. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the misrepresentation or untrue statement of a material fact or alleged misrepresentation or untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such misrepresentation, statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities Damages referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such misrepresentation or untrue statement or alleged misrepresentation or untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 3 contracts

Sources: Underwriting Agreement (Score Media & Gaming Inc.), Underwriting Agreement (Docebo Inc.), Underwriting Agreement (Docebo Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, the directors, officers, members employees and employees selling agents of each Underwriter, and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of each Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising arise out of or are based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of or are arising out or based upon any such untrue statement or omission or alleged untrue statement or omission based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through you expressly for use therein. (b) The Selling Stockholder agrees to indemnify and hold harmless each Underwriter, the directors, officers, employees and selling agents of each Underwriter, and each person, if any, who controls any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of each Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or the Prospectus or any amendment or supplement thereto, or arise out of or are based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent (and only to the extent) that such untrue statement or omission or alleged untrue statement or omission was made in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus, or the Prospectus or any Permitted Free Writing Prospectus, amendment or supplement thereto in reliance upon and in conformity with information furnished to the Agent InformationCompany for use therein; and except insofar as such losses, claims, damages or liabilities arise out of or are based upon any such untrue statement or omission or alleged untrue statement or omission based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through you expressly for use therein. The liability of the Selling Stockholder under the indemnity agreement contained in this paragraph shall be limited to an amount equal to the net proceeds received by the Selling Stockholder from the sale of its Shares under this Agreement. (bc) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Company, the Selling Stockholder, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or the Selling Stockholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such Agent, but only with respect to action or claim) that arise out of or are based upon any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or the Prospectus or any amendment or supplement thereto thereto, or arise out of or are based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to such Underwriter furnished to the Company in writing by such Underwriter through you expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, or the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationamendment or supplement thereto. (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a11(a), 11(b) or 9(b11(c), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters, directors, officers, employees and selling agents of each Underwriter, and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section and (iii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Selling Stockholder and all persons, if any, who control the Selling Stockholder within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of (i) any such separate firm for the defenseUnderwriters, then the directors, officers, employees and selling agents of each Underwriter, and such control persons and affiliates of any Underwriters, such firm shall in each case be designated in writing by the Managers. In the case of any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Agents, in Company. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Selling Stockholder and such control persons of the Selling Stockholder, and such firm shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)Selling Stockholder. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 45 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (xi) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (yii) does not include any a statement as to or any an admission of fault, culpability or a failure to act act, by or on behalf of any indemnified party. (de) To the extent the indemnification provided for in Section 9(a11(a), 11(b) or 9(b11(c) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i11(e)(i) above is not permitted by applicable law, law in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i11(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company and the Selling Stockholder on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the Selling Stockholder and the total underwriting discounts and commissions received by the Agents in connection with the offering of the Shares, Underwriters bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company and the Selling Stockholder on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or the Selling Stockholder or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 11 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth liability of the Selling Stockholder under the contribution agreement contained in Section 9(c) hereof with respect this paragraph shall be limited to notice an amount equal to the aggregate Public Offering Price of commencement of any action shall apply if a claim for contribution is to be made the Shares sold by the Selling Stockholder under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnificationAgreement. (ef) The Transaction Entities Company, the Selling Stockholder and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 11 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d11(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d11(e) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 911, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 11 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fg) The indemnity and contribution provisions contained in this Section 9 11 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company and the Selling Stockholder contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter or any director, officer, employee or agent of any Underwriter, any person controlling any Agent Underwriter or any affiliate of any Agent or by or on behalf of any Transaction Entity Underwriter, the Selling Stockholder or any of their respective person controlling the Selling Stockholder, or the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 3 contracts

Sources: Underwriting Agreement (Voya Financial, Inc.), Underwriting Agreement (Voya Financial, Inc.), Underwriting Agreement (Voya Financial, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred and documented in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein in light of the circumstances under which they were made not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through the Manager expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Manager consists of the information described as such in paragraph (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Manager expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or any amendment thereof, the Prospectus or any amendment or supplement thereto thereto, it being understood and agreed that the only information furnished by or on behalf of any Permitted Free Writing Prospectussuch Underwriter consists of the following information in the Time of Sale Prospectus and the Prospectus furnished on behalf of each Underwriter: the information contained under the caption “Underwriting—Stabilization, in reliance upon Short Positions and in conformity with the Agent InformationPenalty Bids”. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsManager, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (iA) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (iiB) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyproceeding. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares Securities or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares Securities shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares Securities (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents in connection with the offering of the Shares, Underwriters bear to the aggregate Gross Sales Price initial public offering price of the SharesSecurities set forth in the Prospectus. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Securities they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts price at which the Securities underwritten by it and commissions received by such Agent in connection with distributed to the offering of public were offered to the Shares public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the SharesSecurities. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 3 contracts

Sources: Underwriting Agreement (MICROSTRATEGY Inc), Underwriting Agreement (MICROSTRATEGY Inc), Underwriting Agreement (MICROSTRATEGY Inc)

Indemnity and Contribution. (a) Each of The Partnership and the Transaction Entities, jointly and severally, agrees General Partner agree to indemnify and hold harmless each Agent, its affiliates, directors, officers, members and employees each of their respective directors and officers and each person, if any, who controls any such Agent within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any reasonable out of pocket legal or fees and other expenses reasonably incurred in connection with defending or investigating any such suit, action or claimproceeding or any claim asserted, as such fees and expenses are incurred), that arise out of, or are based upon, (i) arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereof, any preliminary prospectus, the Prospectus thereto) or any amendment or supplement thereto or any Permitted Free Writing Prospectus, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein, not misleading or (ii) any untrue statement or alleged untrue statement of a material fact contained in the Prospectus (or any amendment or supplement thereto), any Permitted Free Writing Prospectus (or any amendment or supplement thereto) or any “issuer information” filed or required to be filed pursuant to Rule 433(d) under the Securities Act, or caused by any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to the Agent InformationAgents furnished to the Partnership in writing by the Agents expressly for use therein, it being understood and agreed that the only such information furnished by the Agents consists of the information described as such in subsection (b) below. (b) Each Agent agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Partnership, the Company’s its directors, its officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Partnership within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agentset forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statements statement or omissions, omission or alleged untrue statements statement or omissions, omission made in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to the Agent InformationAgents furnished to the Partnership in writing by the Agents expressly for use in the Registration Statement (or any amendment thereto), the Prospectus (or any amendment or supplement thereto) or any Permitted Free Writing Prospectus (or any amendment or supplement thereto), it being understood and agreed upon that such information shall consist solely of the following: the information appearing in the last sentence of the second paragraph under the caption “Plan of Distribution (Conflicts of Interest)” in the Prospectus Supplement. (c) In case If any suit, action, proceeding (including any governmental or regulatory investigation) ), claim or demand shall be instituted involving brought or asserted against any person in respect of which indemnity indemnification may be sought pursuant to either Section 9(a) or 9(b)) above, such person (the “indemnified partyIndemnified Person”) shall promptly notify the person against whom such indemnity indemnification may be sought (the “indemnifying partyIndemnifying Person”) in writing and the indemnifying party writing. If any such proceeding shall be entitled to participate therein and, to the extent that brought or asserted against an Indemnified Person and it shall elect, jointly with any other indemnifying party similarly notified, to assume have notified the defense Indemnifying Person thereof, with the Indemnifying Person shall retain counsel reasonably satisfactory to the indemnified party Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to represent the indemnified party Indemnified Person and any others entitled to indemnification pursuant to this Section 9 that the indemnifying party Indemnifying Person may designate in such proceeding and shall pay the fees and disbursements expenses of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof, as incurred. In any such proceeding, any indemnified party Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party Indemnified Person unless (i) the indemnifying party Indemnifying Person and the indemnified party Indemnified Person shall have mutually agreed to the retention of such counsel, contrary or (ii) the named parties to in any such proceeding (including any impleaded parties) include included both the indemnifying party Indemnifying Person and the indemnified party Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood and agreed that the indemnifying party Indemnifying Person shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings proceeding in the same jurisdiction, be liable for the reasonable fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties (A) the Agents and their affiliates, directors and officers and their control persons, if any, or (B) the Partnership, its directors, its officers who signed the Registration Statement and its control persons, if any, as the case may be, and that all such reasonable fees and expenses shall be paid or reimbursed as they are incurred. If Any such separate firm for the indemnifying party does not elect to assume the defenseAgents and their affiliates, then such firm directors and officers and their control persons, if any, shall be designated in writing by the Agents, and any such separate firm for the Partnership, its directors, its officers who signed the Registration Statement and its control persons, if any, shall be designated in the case of parties indemnified pursuant to Section 9(a), and writing by the Company in the case of parties indemnified pursuant to Section 9(b)Partnership. The indemnifying party Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party Indemnifying Person agrees to indemnify each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. No Indemnifying Person shall be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying Person agrees to indemnify the indemnified party Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party Indemnified Person shall have requested an indemnifying party Indemnifying Person to reimburse the indemnified party Indemnified Person for fees and expenses of counsel as contemplated by the second and third sentences sentence of this paragraphSection 9(c), then the indemnifying party Indemnifying Person agrees that it shall be liable for any settlement of any proceeding Proceeding effected without its written consent if (i) such settlement is entered into more than 30 60 business days after receipt by such indemnifying party Indemnifying Person of the aforesaid request; , (ii) such indemnifying party Indemnifying Person shall not have fully reimbursed the indemnified party Indemnified Person in accordance with such request prior to the date of such settlement; settlement and (iii) such indemnifying party Indemnified Person shall have received notice of given the terms of such settlement Indemnifying Person at least 30 days days’ prior notice of its intention to such settlement being entered intosettle. No indemnifying party Indemnifying Person shall, without the prior written consent of the indemnified partyIndemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party Indemnified Person is or could have been a party and indemnity could have been sought hereunder by such indemnified partyIndemnified Person, unless such settlement (xi) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, Indemnified Person from all liability on claims that are the subject matter of such proceeding and (yii) does not include any a statement as to or any an admission of fault, culpability or a failure to act act, by or on behalf of any indemnified partyIndemnified Person. (d) To the extent If the indemnification provided for in Section Sections 9(a) or 9(b) above is unavailable to an indemnified party Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party Indemnifying Person under such paragraphSections, in lieu of indemnifying such indemnified party Indemnified Person thereunder, shall contribute to the amount paid or payable by such indemnified party Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesPartnership, on the one hand, and the applicable Agents, on the other handother, from the offering of the Shares Units pursuant to this Agreement and any Terms Agreements or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesPartnership, on the one hand, and of the applicable Agents, on the other handother, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesPartnership, on the one hand, and the applicable Agents, on the other handother, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Partnership from the sale of the Units pursuant to this Agreement and any Terms Agreements and the total discounts and commissions received by the applicable Agents in connection with the offering of the Shares, therewith bear to the aggregate Gross Sales Price of the Sharessuch Units. The relative fault of the Transaction EntitiesPartnership, on the one hand, and the applicable Agents, on the other handother, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Partnership, on the one hand, or by the Agents applicable Agents, on the other hand, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Partnership and the Agents agree that it would not be just or and equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)) above. The amount paid or payable by an indemnified party Indemnified Person as a result of the losses, claims, damages and liabilities referred to in Section 9(d) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party Indemnified Person in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, in no event shall an Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with respect to the offering of the Shares Units pursuant to this Agreement and any Terms Agreements exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. . (f) The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party Indemnified Person at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 3 contracts

Sources: Distribution Agreement (MPLX Lp), Distribution Agreement (MPLX Lp), Distribution Agreement (MPLX Lp)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliateseach person, if any, who controls any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act, and each of their respective directors, officersofficers and employees, members from and employees against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim), joint or several, arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), or the Prospectus or any amendment or supplement thereto, or any Written Testing-the-Waters Communication or arising out of or based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of or are based upon any such untrue statement or omission or alleged untrue statement or omission based upon information furnished to the Company in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information is that described in Section 9(b); (b) Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company, the directors of the Company, the officers of the Company who sign the Registration Statement and each person, if any, who controls any Agent the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, or any Permitted Free Writing Prospectusissuer free writing prospectus as defined in Rule 433(h) under the Securities Act, or arising out of or based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as but only with reference to information furnished to the Company in writing by such losses, claims, damages or liabilities are arising out or based upon any such untrue statement or omission or alleged untrue statement or omission made Underwriter through the Representatives expressly for use in the Registration Statement or Statement, any amendment thereofpreliminary prospectus, the Prospectus or any Permitted Free Writing Time of Sale Prospectus, in reliance upon and in conformity with the Agent Information. (b) Each Agent agreesany issuer free writing prospectus, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s directors, officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agent, but only with respect to untrue statements or omissionsroad show, or alleged untrue statements or omissions, made in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or thereto, it being understood and agreed that the only such information furnished by any Permitted Free Writing Prospectus, Underwriter through the Representatives consists of the name of the Underwriter and the disclosure on stabilization appearing in reliance upon and in conformity with the Agent Informationsixteenth paragraph under the caption “Underwriting”. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or 9(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from ; provided that the failure to notify the indemnifying party shall not relieve it from any liability that it may have under the preceding paragraphs of this Section 9 except to such indemnified party the extent that it has been materially prejudiced (through the forfeiture of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel substantive rights or any other expenses subsequently incurred defenses) by such indemnified party in connection with the defense thereoffailure. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons and affiliates of any Underwriters, then such firm shall be designated in writing by the Agents, in Representatives. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any a statement as to or any an admission of fault, culpability or a failure to act act, by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a) or 9(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares ADSs or (ii) if the allocation provided by clause (i9(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i9(d)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilitiesliabilities (or actions in respect thereof), as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares ADSs shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares ADSs (before deducting expenses) received by the Transaction Entities Company on the one hand and the total underwriting discounts and commissions received by the Agents Underwriters on the other hand, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the SharesADSs. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions number of ADSs they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and or liabilities (or actions in respect thereof) referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts price at which the ADSs underwritten by it and commissions received by such Agent in connection with distributed to the offering of public were offered to the Shares public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the SharesADSs. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 3 contracts

Sources: Underwriting Agreement (NIO Inc.), Underwriting Agreement (NIO Inc.), Underwriting Agreement (NIO Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each Agentthe Underwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent the Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of the Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any reasonably incurred and documented legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (eacha “road show”), an the Prospectus or any amendment or supplement thereto, or any Testing-the-Waters Communication, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any such untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to the Underwriter furnished to the Company in writing by the Underwriter expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriter consists of the information described as such in paragraph (c) below. The Company agrees and confirms that references to Agent Indemnified Party”affiliates” of ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ that appear in this Agreement shall be understood to include Mitsubishi UFJ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Securities Co., Ltd. (b) Each Selling Shareholder agrees, severally and not jointly, to indemnify and hold harmless the Underwriter, each person, if any, who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as but only with reference to the Selling Shareholder Information relating to such lossesSelling Shareholder. The liability of each Selling Shareholder under the representations and warranties contained in this Agreement and under the indemnity and contribution agreements contained in this Section 11 shall be limited to an amount equal to the aggregate net proceeds after underwriting commissions and discounts, claimsbut before expenses, damages or liabilities are arising out or based upon any such untrue statement or omission or alleged untrue statement or omission made in received by the Registration Statement or any amendment thereof, Selling Shareholder from the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with sale of Shares sold by the Agent InformationSelling Shareholder under this Agreement. (bc) Each Agent The Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Company, the Selling Shareholders, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or any Selling Shareholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such Agentaction or claim) that arise out of, but only with respect to or are based upon, any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, or the Prospectus or any amendment or supplement thereto thereto, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to the Underwriter furnished to the Company in writing by the Underwriter expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or the Prospectus or any Permitted Free Writing amendment or supplement thereto, it being understood and agreed upon that the only such information furnished by the Underwriter consists of the following information in the Prospectus: the information concerning stabilizing transactions, short sales and other information appearing in reliance upon and in conformity with the Agent Informationtwelfth paragraph under the caption “Underwriting. (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a‎11(a), ‎11(b) or 9(b‎11(c), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred and documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the reasonably incurred and documented fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, ; (ii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party; (iii) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party; and (iv) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Underwriter and all persons, if any, who control the Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of the Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such Section and (iii) the fees and expenses of more than one separate firm (in addition to any local counsel) for all Selling Shareholders and all persons, if any, who control any Selling Shareholder within the meaning of either such indemnified parties Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriter and such control persons and affiliates of the Underwriter, then such firm shall be designated in writing by the Agents, in Underwriter. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in Company. In the case of parties indemnified pursuant to Section 9(b)any such separate firm for the Selling Shareholders and such control persons of any Selling Shareholders, such firm shall be designated in writing by the Selling Shareholders. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such the indemnified party, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (de) To the extent the indemnification provided for in Section 9(a‎11(a), ‎11(b) or 9(b‎11(c) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i‎11(e)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i‎11(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company and the Selling Shareholders on the one hand, hand and the Agents, Underwriter on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and the total discounts and commissions received by the Agents in connection with the offering of the Shares, Selling Shareholders bear to the aggregate Gross Sales Price result of the Sharesprice at which the Underwriter sells the Shares less the price at which the Underwriter purchases the Shares from the Selling Shareholder. The relative fault of the Transaction Entities, Company and the Selling Shareholders together on the one hand, and the Agents, Underwriter on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by either the Transaction Entities Company or the Selling Shareholder or by the Agents Underwriter, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (ef) The Transaction Entities Company, the Selling Shareholders and the Agents Underwriter agree that it would not be just or equitable if contribution pursuant to this Section 9 ‎11 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d‎11(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d‎11(e) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9‎11, no Agent the Underwriter shall not be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent the Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 ‎11 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fg) The indemnity and contribution provisions contained in this Section 9 ‎11 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company and the Selling Shareholders contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agentthe Underwriter, any person controlling any Agent the Underwriter or any affiliate of any Agent the Underwriter, or by or on behalf of any Transaction Entity Selling Shareholder or any person controlling any Selling Shareholder, or by or on behalf of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Keurig Dr Pepper Inc.), Underwriting Agreement (Maple Holdings B.V.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify (on an after-Taxation basis), defend and hold harmless each Agentof the Joint Sponsors, its affiliatesJoint Representatives, Joint Global Coordinators and International Underwriters and their respective head offices, branches, associates and Affiliates, and the respective partners, directors, officers, employees, agents and members and employees and each personof any of the foregoing persons, if any, any person who controls any Agent such Joint Sponsor, Joint Representatives, Joint Global Coordinator and International Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) and the successors and assigns of all of the foregoing persons, from and against any and all losses, claimsliabilities, damages damages, payments, costs, charges, expenses and liabilities Taxation (collectively, “Losses” and individually, a “Loss”) and all actions, suits and proceedings (including, without limitation, any legal investigation or other expenses reasonably incurred in connection with defending inquiry by or investigating before any Authority) and claims (whether or not any such action claim involves or claimresults in any action, suit or proceeding) (collectively, “Proceedings” and individually, a “Proceeding”) which, jointly or severally, any such Joint Sponsor, Joint Representatives, Joint Global Coordinator, International Underwriter or any such person may incur or become subject to under the Securities Act, the Exchange Act, other U.S. Federal or state statutory law or regulations or the common law, or with respect to any Authority, or otherwise (including, without limitation, all payments, costs, charges, fees and expenses arising out of or in connection with the investigation, response to, defense or settlement or compromise of, or the enforcement of any settlement or compromise or judgment obtained with respect to, any such Loss or any such Proceeding), insofar as such Loss or Proceeding, directly or indirectly, arises out of or is based upon upon: (A) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereofStatement, any preliminary prospectusthe Pricing Disclosure Package, the Prospectus or any Issuer Free Writing Prospectus (including any free writing prospectus published or distributed by media), Testing-the-Waters Communication or road show (including any amendment or supplement thereto or any Permitted Free Writing Prospectusthereto), or arising arise out of or are based upon any the omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein therein, in the light of the circumstances under which they were made, not misleading, except insofar as any such losses, claims, damages Loss or liabilities are arising Proceeding arises out of or is based upon any such untrue statement or omission or alleged untrue statement of a material fact contained in, and in conformity with, information concerning such Joint Sponsor, Joint Representatives, Joint Global Coordinator or International Underwriter furnished in writing by or on behalf of such International Underwriter through the Joint Representatives to the Company expressly and specifically for use in the Pricing Disclosure Package or the Prospectus or arises out of or is based upon any omission made or alleged omission to state a material fact in the Registration Statement or any amendment thereofStatement, the Pricing Disclosure Package, the Prospectus or any Permitted Issuer Free Writing ProspectusProspectus or Testing-the-Waters Communication in connection with such information, which material fact was not contained in such information and which material fact was necessary in order to make the statements in such information, in reliance upon the light of the circumstances under which they were made, not misleading; provided, however that the parties acknowledge and agree that for the purpose of this Section 9 hereunder, the only information furnished to the Company by any International Underwriters through the Joint Representatives expressly for use in the Registration Statement, the Pricing Disclosure Package, the Prospectus or any Issuer Free Writing Prospectus or Testing-the-Waters Communication consists of the information described as such in Section 10 hereof; (B) the offer, allotment, issue, sale or delivery of the Offer Shares; (C) any breach or alleged breach on the part of the Company of any of the provisions of this Agreement, the Hong Kong Underwriting Agreement, the Articles of Association or applicable Laws; (D) any of the Warranties being untrue, inaccurate or misleading in any material respect or having been breached in any material respect or being alleged to be untrue, inaccurate or misleading in any material respect or alleged to have been breached in any material respect;; (E) the performance by the Joint Sponsors, the Joint Representatives, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the International Underwriters or any of them of their or its obligations and roles in accordance with this Agreement and in conformity connection with the Agent InformationGlobal Offering; (F) the Global Offering failing or being alleged to fail to comply with the requirements of the Listing Rules, or any Law of any applicable jurisdiction, or any condition or term of any Approvals and Filings in connection with the Global Offering; (G) any failure or alleged failure by any of the Directors to comply with their respective obligations under the Listing Rules; (H) any breach or alleged breach by any member of the Group of applicable Laws; or (I) any other matter arising in connection with Global Offering. provided that the indemnity provided for in this Clause 9(a)(E), shall not, except in relation to the matters as provided in Clause 3.7 of the Hong Kong Underwriting Agreement, apply in respect of any Indemnified Party (as defined below) if any such Losses suffered or incurred by such Indemnified Party is finally judicially determined by a court of competent jurisdiction or a properly constituted arbitral panel (as the case may be) to have arisen solely out of the gross negligence, willful default or fraud on the part of such Indemnified Party. This indemnity agreement will be in addition to any liability that the Company may otherwise have. (b) Each Agent agreesInternational Underwriter, severally (but not jointly or jointly and not jointlyseverally), agrees to indemnify indemnify, defend and hold harmless each Transaction Entitythe Company from and against any Loss and Proceeding which the Company may incur under the Securities Act, the Company’s directorsExchange Act, officers who signed the Registration Statement and each personcommon law or otherwise, if any, who controls either insofar as such Loss or Proceeding arises out of the Transaction Entities within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agent, but only with respect to is based upon any untrue statements or omissions, statement or alleged untrue statements statement of a material fact contained in, and in conformity with, information concerning such International Underwriter furnished in writing by or omissions, made on behalf of such International Underwriter through the Joint Representatives to the Company expressly and specifically for use in the Registration Statement or any amendment thereofStatement, the Pricing Disclosure Package, the Prospectus or any Issuer Free Writing Prospectus or Testing-the-Waters Communication (including any amendment or supplement thereto thereto) or arises out of or is based upon any Permitted omission or alleged omission to state a material fact therein in connection with such information, which material fact was not contained in such information and which material fact was necessary in order to make the statements in such information, in the light of the circumstances under which they were made, not misleading; provided, however, that the parties acknowledge and agree that for the purpose of this Section 9 hereunder, the only information furnished to the Company by any International Underwriters through the Joint Representatives expressly for use in the Registration Statement, the Pricing Disclosure Package, the Prospectus, any Issuer Free Writing Prospectus, Prospectus or Testing-the-Waters Communication consists of the information described as such in reliance upon and in conformity with the Agent InformationSection 10 hereof. (c) In case If any proceeding Proceeding is brought against a person (including any governmental investigationan “Indemnified Party”) shall be instituted involving any person in respect of which indemnity may be sought against the Company, a Joint Sponsor, a Joint Representative, a Joint Global Coordinator or an International Underwriter (as applicable, the “Indemnifying Party”) pursuant to Section 9(aeither subsection (a) or 9(b(b), respectively, of this Section 9 above, such person (the “indemnified party”) shall Indemnified Party shall, subject to any restrictions imposed by any Law or obligation of confidentiality, promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) Indemnifying Party in writing and of the indemnifying party institution of such Proceeding; provided, however, that the omission to so notify such Indemnifying Party shall be entitled not relieve such Indemnifying Party from any liability which such Indemnifying Party may have to any Indemnified Party under this Section 9 or otherwise. The Indemnifying Party may participate therein andat its expense in the defense of such Proceeding including appointing counsel at its expense to act for it in such Proceeding; provided, however, that counsel to the extent that it Indemnifying Party shall elect, jointly not (except with the consent of any other indemnifying party similarly notified, to assume the defense thereof, with Indemnified Party or Parties) also be counsel reasonably satisfactory to the indemnified party Indemnified Party or Parties. Unless such Indemnified Party or Parties consent to represent counsel to the indemnified party and any others Indemnifying Party acting as counsel to the indemnifying party may designate Indemnified Party or Parties in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceedingProceeding, any indemnified party Indemnified Party or Parties shall have the right to retain appoint its or their own separate counsel (in addition to local counsel) in such Proceeding; provided, but however, that the giving of such consent or the appointment of such separate counsel (in addition to local counsel) shall be determined, as applicable, by the Joint Representatives (in the case of such Indemnified Party or Parties being any International Underwriter, its partners, directors, officers and members, any person who controls any such International Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, any Affiliate of any such International Underwriter, and/or any successors and assigns of any of the foregoing persons), the Joint Sponsors or by the Company, as applicable. The fees and expenses of such separate counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available local counsel) to the indemnifying party. It is understood Indemnified Party or Parties shall be borne by the Indemnifying Party and paid as incurred (it being understood, however, that the indemnifying party such Indemnifying Party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, not be liable for the fees and expenses of more than one separate firm counsel (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, any one Proceeding or series of related Proceedings in the case of same jurisdiction representing the Indemnified Party or Parties who is or are parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(bsuch Proceeding or Proceedings). The indemnifying party Indemnifying Party shall not be liable for any settlement or compromise by the Indemnified Party or Parties of, or any judgment consented to by the Indemnified Party or Parties with respect to, any pending or threatened Proceeding, whether effected with or without the consent of any proceeding effected without its written consentsuch Indemnifying Party, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party and agrees to indemnify and hold harmless the indemnified party Indemnified Party or Parties from and against any loss or liability by reason of such settlement, compromise or consent judgement. No Indemnifying Party shall, without the written consent of the Indemnified Party, effect any settlement or judgmentcompromise of, or consent to the entry of any judgment with respect to, any pending or threatened Proceeding in respect of which any Indemnified Party is or could be or could have been a party and indemnity or contribution could be or could have been sought hereunder by such Indemnified Party, unless such settlement, compromise or consent judgment includes an unconditional release of such Indemnified Party, in form and substance reasonably satisfactory to such Indemnified Party, from all liability on claims that are the subject matter of such Proceeding and does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of such Indemnified Party. Notwithstanding the foregoing sentenceforegoing, if at any time an indemnified party Indemnified Person shall have requested that an indemnifying party to Indemnifying Person reimburse the indemnified party Indemnified Person for fees and expenses of counsel as contemplated by the second and third sentences of this paragraphsection, the indemnifying party agrees that it Indemnifying Person shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by the Indemnifying Person of such indemnifying party of the aforesaid request; request and (ii) such indemnifying party the Indemnifying Person shall not have reimbursed the indemnified party Indemnified Person in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent If the indemnification provided for in this Section 9(a) or 9(b) 9 is unavailable to an indemnified party Indemnified Party under subsection (a) or (b) of this Section 9 or insufficient to hold an Indemnified Party harmless in respect of any losses, claims, damages Losses or liabilities Proceedings referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, applicable Indemnifying Party shall contribute to the amount paid or payable by such indemnified party Indemnified Party as a result of such losses, claims, damages Losses or liabilities Proceedings (iA) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, and by the Agents, International Underwriters on the other hand, from the offering of the Shares International Offering or (iiB) if the allocation provided by clause (iA) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (iA) above but also the relative fault of the Transaction Entities, Company on the one hand, and of the Agents, International Underwriters on the other hand, in connection with the statements or omissions that which resulted in such losses, claims, damages Losses or liabilitiesProceedings, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, and by the Agents, International Underwriters on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as which the total net proceeds from the offering International Offering (net of the Shares (total commissions received by the International Underwriters pursuant to Section 1 hereof but before deducting expenses) received by the Transaction Entities Company, and the total discounts and commissions received by the Agents in connection with the offering of the SharesInternational Underwriters pursuant to Section 1 hereof, bear to the aggregate Gross Sales Offer Price of the International Offer Shares. The relative fault of the Transaction Entities, Company on the one hand, and of the Agents, International Underwriters on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents International Underwriters, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents International Underwriters agree that it would not be just or and equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents International Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to above in subsection (d) of this Section 9(d)9. The For the avoidance of doubt, the amount paid or payable by an indemnified party Indemnified Party as a result of the losses, claims, damages and liabilities Losses or Proceedings referred to above in subsection (d) of this Section 9(d) 9 shall be deemed to include, subject to the limitations set forth above, any include all legal or and other expenses reasonably incurred by such indemnified party Indemnified Party in connection with investigating or defending any such action Losses or claimProceedings. Notwithstanding the provisions of this Section 9, no Agent International Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions commission received by such Agent in connection with the offering of the Shares International Underwriter pursuant to Section 1 hereof exceeds the amount of any damages damage that such Agent International Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in International Underwriters’ obligations to contribute pursuant to this Section 9 are several in proportion to their respective purchase obligations and not exclusive and shall not limit joint. The Company’s obligations to contribute pursuant to this Section 9 will be in addition to any rights or remedies which liability that the Company may otherwise be available to any indemnified party at law or in equityhave. (f) The indemnity and contribution provisions agreements contained in this Section 9 and the representations andcovenants, warranties and representations and other statements of the Transaction Entities Company contained in, or made by or on behalf of it pursuant to, this Agreement Agreement, shall remain operative and in full force and effect effect, regardless of (i) any termination of this Agreement, (ii) any investigation (or any statement as to the results thereof) made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.International

Appears in 2 contracts

Sources: International Underwriting Agreement (Baidu, Inc.), International Underwriting Agreement (Baidu, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, agrees to The Company shall indemnify and hold harmless each AgentUnderwriter, its affiliatespartners, members, directors, officers, members and employees affiliates and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) from and against any and all losses, liabilities, claims, damages and liabilities expenses whatsoever as incurred (including, without limitation, including but not limited to attorneys’ fees and any legal or other and all expenses reasonably whatsoever incurred in connection with investigating, preparing or defending against any litigation, commenced or investigating threatened, or any claim whatsoever, and any and all amounts paid in settlement of any claim or litigation), joint or several, to which they or any of them may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such action losses, liabilities, claims, damages or claimexpenses (or actions in respect thereof) arising arise out of or are based upon (i) any untrue statement or alleged untrue statement of a material fact contained in (a) the Registration Statement or any amendment thereofStatement, including the Rule 430B information, (b) any preliminary prospectus, any Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto thereto), or (c) any Permitted “road show” relating to the Shares (as defined in Rule 433) not constituting an Issuer Free Writing ProspectusProspectus (a “Non-Prospectus Road Show”), or arising out of or based upon any (ii) the omission or alleged omission to state therein a therefrom of any material fact required to be stated therein or necessary to make the statements therein not misleading; provided, except insofar as however, that the Company will not be liable in any such lossescase to the extent but only to the extent that any such loss, claimsliability, damages claim, damage or liabilities are arising expense arises out of or is based upon any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectusalleged omission, in reliance upon and in conformity with written information furnished in writing to the Agent InformationCompany by or on behalf of any Underwriter through the Representatives specifically for use in the preparation thereof. This indemnity agreement will be in addition to any liability which the Company may otherwise have, including but not limited to other liability under this Agreement. (b) Each Agent agreesUnderwriter, severally and not jointly, to shall indemnify and hold harmless each Transaction Entity, the Company’s directors, each of the directors of the Company, each of the officers of the Company who shall have signed the Registration Statement Statement, and each other person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, against any losses, liabilities, claims, damages and expenses whatsoever as incurred (including but not limited to attorneys’ fees and any and all expenses whatsoever incurred in investigating, preparing or defending against any litigation, commenced or threatened, or any claim whatsoever, and any and all amounts paid in settlement of any claim or litigation), joint or several, to which they or any of them may become subject under the Securities Act, the Exchange Act to the same extent or otherwise, insofar as the foregoing indemnity from the Transaction Entities to such Agentlosses, but only with liabilities, claims, damages or expenses (or actions in respect to thereof) arise out of or are based upon (i) any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in (a) the Registration Statement Statement, including the Rule 430B information, (b) any preliminary prospectus, any Issuer Free Writing Prospectus or any amendment thereof, the Prospectus (or any amendment or supplement thereto thereto), or (c) any Permitted Free Writing ProspectusNon-Prospectus Road Show, (ii) the omission or alleged omission therefrom of any material fact required to be stated therein or necessary to make the statements therein not misleading; provided, however, that the Underwriters will be responsible in each case to the extent, but only to the extent, that any such loss, liability, claim, damage or expense arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with information furnished in writing to the Agent InformationCompany by or on behalf of any Underwriter through the Representatives specifically for use in the preparation thereof; provided, however, that in no case shall any Underwriter be liable or responsible for any amount in excess of the underwriting discount applicable to the Shares to be purchased by such Underwriter hereunder. This indemnity will be in addition to any liability which any Underwriter may otherwise have, including but not limited to other liability under this Agreement. (c) Promptly after receipt by an indemnified party under subsection (a) or (b) above of notice of any claims or the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection, notify each party against whom indemnification is to be sought in writing of the claim or the commencement thereof (but the failure so to notify an indemnifying party shall not relieve the indemnifying party from any liability which it may have under this Section 9). In case any proceeding (including such claim or action is brought against any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or 9(b), such person (the “indemnified party”) shall promptly notify , and it notifies an indemnifying party of the person against whom such indemnity may be sought (the “indemnifying party”) in writing and commencement thereof, the indemnifying party shall will be entitled to participate therein andparticipate, at its own expense in the defense of such action, and to the extent that it shall elect, jointly with any other indemnifying may elect by written notice delivered to the indemnified party similarly notifiedpromptly after receiving the aforesaid notice from such indemnified party, to assume the defense thereof, thereof with counsel reasonably satisfactory to such indemnified party; provided however, that counsel to the indemnifying party shall not (except with the written consent of the indemnified party) also be counsel to the indemnified party to represent party. Notwithstanding the foregoing, the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party parties shall have the right to retain employ its or their own counselcounsel in any such case, but the fees and expenses of such counsel shall be at the expense of such indemnified party or parties unless (i) the indemnifying party and the indemnified party employment of such counsel shall have mutually agreed to been authorized in writing by one of the retention indemnifying parties in connection with the defense of such counselaction, (ii) the named indemnifying parties shall not have employed counsel to any have charge of the defense of such proceeding (including any impleaded parties) include both action within a reasonable time after notice of commencement of the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between themaction, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to does not diligently defend the indemnified party action after assumption of the defense, or (iv) the such indemnified party or parties shall have reasonably concluded that there may be legal defenses available to it that or them which are different from or in addition additional to those available to one or all of the indemnifying party. It is understood that parties (in which case the indemnifying parties shall not have the right to direct the defense of such action on behalf of the indemnified party shall notor parties), in respect any of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one local counsel) for all which events such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If borne by the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered intoparties. No indemnifying party shall, without the prior written consent of the indemnified partyparties, effect any settlement or compromise of, or consent to the entry of judgment with respect to, any pending or threatened claim, investigation, action or proceeding in respect of which any indemnified party is indemnity or contribution may be or could have been a sought by an indemnified party and indemnity could have been sought hereunder by such under this Section 9 or Section 10 hereof (whether or not the indemnified partyparty is an actual or potential party thereto), unless such settlement (x) such settlement, compromise or judgment (i) includes an unconditional release of such the indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter arising out of such claim, investigation, action or proceeding and (yii) does not include any a statement as to or any an admission of fault, culpability or a any failure to act act, by or on behalf of any the indemnified party. , and (dy) To the extent the indemnification provided for in Section 9(a) or 9(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, confirms in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction Entities, on the one hand, and of the Agents, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and the total discounts and commissions received by the Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price of the Shares. The relative fault of the Transaction Entities, on the one hand, and the Agents, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities or by the Agents and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective writing its indemnification obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof hereunder with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); providedsuch settlement, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnificationcompromise or judgment. (e) The Transaction Entities and the Agents agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Thornburg Mortgage Inc), Underwriting Agreement (Thornburg Mortgage Inc)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each Agentthe Underwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent the Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of the Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any reasonably incurred and documented legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (eacha “road show”), an the Prospectus or any amendment or supplement thereto, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any such untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to the Underwriter furnished to the Company in writing by the Underwriter expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriter consists of the information described as such in paragraph (c) below. The Company agrees and confirms that reference to Agent Indemnified Party”Affiliates” of ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. LLC that appear in this Agreement shall be understood to include Mitsubishi UFJ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Securities Co., Ltd. (b) The Selling Shareholder agrees to indemnify and hold harmless the Underwriter, each person, if any, who controls the Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such lossesbut only with reference to the Selling Shareholder Information relating to the Selling Shareholder. The liability of the Selling Shareholder under the representations and warranties contained in this Agreement and under the indemnity and contribution agreements contained in this Section 11 shall be limited to an amount equal to the aggregate net proceeds after underwriting commissions and discounts, claimsbut before expenses, damages or liabilities are arising out or based upon any such untrue statement or omission or alleged untrue statement or omission made in received by the Registration Statement or any amendment thereof, Selling Shareholder from the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with sale of Shares sold by the Agent InformationSelling Shareholder under this Agreement. (bc) Each Agent agrees, severally and not jointly, The Underwriter agrees to indemnify and hold harmless each Transaction Entitythe Company, the Selling Shareholder, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or the Selling Shareholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such Agentaction or claim) that arise out of, but only with respect to or are based upon, any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, or the Prospectus or any amendment or supplement thereto thereto, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to the Underwriter furnished to the Company in writing by the Underwriter expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or the Prospectus or any Permitted Free Writing amendment or supplement thereto, it being understood and agreed upon that the only such information furnished by the Underwriter consists of the following information in the Prospectus: the information concerning stabilizing transactions, short sales and other information appearing in reliance upon and in conformity with the Agent Informationfifteenth paragraph under the caption “Underwriting. (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a11(a), 11(b) or 9(b11(c), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred and documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the reasonably incurred and documented fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, ; (ii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified; (iii) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party; and (iv) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for the Underwriter and all persons, if any, who control the Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of the Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section and (iii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Selling Shareholder and all persons, if any, who control the Selling Shareholder within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriter and such control persons and affiliates of the Underwriter, then such firm shall be designated in writing by the Agents, in Underwriter. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in Company. In the case of parties indemnified pursuant to Section 9(b)any such separate firm for the Selling Shareholder and such control persons of the Selling Shareholder, such firm shall be designated in writing by the Selling Shareholder. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such the indemnified party, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (de) To the extent the indemnification provided for in Section 9(a11(a), 11(b) or 9(b11(c) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i11(e)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i11(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company and the Selling Shareholder on the one hand, hand and the Agents, Underwriter on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and the total discounts and commissions received by the Agents in connection with the offering of the Shares, Selling Shareholder bear to the aggregate Gross Sales Price result of the Sharesprice at which the Underwriter sells the Shares less the price at which the Underwriter purchases the Shares from the Selling Shareholder. The relative fault of the Transaction Entities, Company and the Selling Shareholder together on the one hand, and the Agents, Underwriter on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by either the Transaction Entities Company or the Selling Shareholder or by the Agents Underwriter, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (ef) The Transaction Entities Company, the Selling Shareholder and the Agents Underwriter agree that it would not be just or equitable if contribution pursuant to this Section 9 11 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d11(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d11(e) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 911, no Agent the Underwriter shall not be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent the Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 11 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fg) The indemnity and contribution provisions contained in this Section 9 11 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company and the Selling Shareholder contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agentthe Underwriter, any person controlling any Agent the Underwriter or any affiliate of any Agent the Underwriter, or by or on behalf of any Transaction Entity the Selling Shareholder or any person controlling the Selling Shareholder, or by or on behalf of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Keurig Dr Pepper Inc.), Underwriting Agreement (Keurig Dr Pepper Inc.)

Indemnity and Contribution. (a) Each of the Transaction EntitiesThe Company will indemnify, jointly and severally, agrees to indemnify defend and hold harmless each AgentUnderwriter, its affiliatespartners, members, directors, officers, members and employees and agents, each person, if any, person who controls any Agent Underwriter within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act Act, and each “affiliate” (eachwithin the meaning of Rule 405 under the Act) of any Underwriter, an “Agent Indemnified Party”) and the successors and assigns of all of the foregoing persons, from and against any and all losses, claims, liabilities, expenses and damages (including any and liabilities (includingall investigative, without limitation, any legal or and other expenses reasonably incurred in connection with defending with, and any amount paid in settlement of, any action, suit or investigating proceeding or any claim asserted) whatsoever, as incurred, to which they, or any of them, may become subject under the Act, the Exchange Act or any other federal or state statutory law or regulation, at common law or otherwise, insofar as such action losses, claims, liabilities, expenses or claimdamages arise out of, relate to or are based on (i) arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereofthereto), any preliminary prospectus, including the Prospectus or any amendment or supplement thereto or any Permitted Free Writing ProspectusRule 430A Information, or arising out of or based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities are arising out or based upon any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Information. (b) Each Agent agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s directors, officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agent, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Information. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or 9(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceedingloss, any indemnified party shall have the right to retain its own counselclaim, but the fees liability, expense or damage primarily and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counseldirectly arises out of, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as relates to or is based on any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a) or 9(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction Entities, on the one hand, and of the Agents, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and the total discounts and commissions received by the Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price of the Shares. The relative fault of the Transaction Entities, on the one hand, and the Agents, on the other hand, shall be determined by reference to, among other things, whether the untrue statement or alleged untrue statement of a material fact contained in, and in conformity with Underwriter Information furnished in writing by the Representative to the Company expressly for use in, the Registration Statement (or the any amendment thereto) or primarily and directly arises out of, relates to or is based on any omission or alleged omission to state a material fact relates to information supplied by in the Transaction Entities Registration Statement (or by the Agents and the parties’ relative intentany amendment thereto) in connection with such information, knowledge, access to which material fact was not contained in such information and opportunity which material fact was required to correct be stated in the Registration Statement or prevent was necessary to make such information not misleading, or (ii) any untrue statement or omission. The Agents’ respective obligations alleged untrue statement of a material fact included in any Written Testing-the-Waters Communication, any preliminary prospectus, the Disclosure Package or the Prospectus (or any amendment or supplement thereto) or in any information provided to contribute pursuant investors by, or with the approval of, the Company, including, without limitation, any investor presentations, or any omission or alleged omission to this Section 9 are several state a material fact necessary in proportion order to make the respective total discounts and commissions they have received from statements therein, in the offering light of the Sharescircumstances under which they were made, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); providedmisleading, howeverexcept, that no additional notice shall be required with respect to any action such preliminary prospectus, the Disclosure Package or the Prospectus (or any amendment or supplement thereto), to the extent any such loss, claim, liability, expense or damage primarily and directly arises out of, relates to or is based on any untrue statement or alleged untrue statement of a material fact contained in, and in conformity with the Underwriter Information furnished in writing by the Representative to the Company expressly for which notice has been given under section 9(d) hereof for purposes of indemnification. use in such preliminary prospectus, the Disclosure Package or the Prospectus (e) The Transaction Entities and the Agents agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purposeany amendment or supplement thereto) or by primarily and directly arises out of, relates to or is based on any other method of allocation that does not take account of omission or alleged omission to state a material fact in such preliminary prospectus, the equitable considerations referred to in Section 9(d). The amount paid Disclosure Package or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(dProspectus (or any amendment or supplement thereto) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering Underwriter Information, which material fact was not contained in the Underwriter Information and which material fact was necessary in order to make the statements in such information, in the light of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was circumstances under which they were made, not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equitymisleading. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Mercury Ecommerce Acquisition Corp), Underwriting Agreement (Mercury Ecommerce Acquisition Corp)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each Agentthe Underwriter, its affiliates, directorspartners, officers, members directors and employees officers and each person, if any, who controls any Agent the Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any reasonable out of pocket legal or fees and other expenses reasonably incurred in connection with defending or investigating any such suit, action or claimproceeding or any claim asserted, as such fees and expenses are incurred) arising that arise out of of, or are based upon upon, (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading or (ii) any untrue statement or alleged untrue statement of a material fact contained in the Pricing Prospectus (or any amendment or supplement thereto), the Prospectus (or any amendment or supplement thereto), the Pricing Date Information, any Permitted Free Writing Prospectus (or any amendment or supplement thereto), any Pricing FWP or caused by any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to the Underwriter furnished to the Company in writing by or on behalf of the Underwriter expressly for use in the Registration Statement Statement, the Pricing Prospectus (or any amendment thereofor supplement thereto), the Prospectus (or any amendment or supplement thereto), the Pricing Date Information, any Permitted Free Writing ProspectusProspectus (or any amendment or supplement thereto) or any Pricing FWP, it being understood that such information consists solely of the information specified in Section 10(c)). (b) The Selling Stockholder agrees to indemnify and hold harmless the Underwriter, its affiliates, directors and officers and each person, if any, who controls the Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in paragraph (a) above, to the extent such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to the Agent Selling Stockholder furnished to the Company in writing by the Selling Stockholder expressly for use in the Registration Statement, the Pricing Prospectus (or any amendment or supplement thereto), the Prospectus (or any amendment or supplement thereto), the Pricing Date Information, any Permitted Free Writing Prospectus (or any amendment or supplement thereto) or any Pricing FWP, it being understood that such information consists solely of the information about the Selling Stockholder set forth in the “Selling Stockholder” section of the Preliminary Prospectus. In no event shall the Selling Stockholder be required pursuant to this Section 10(b) to indemnify the Underwriter in an amount in excess of the net proceeds before expenses received by the Selling Stockholder from the Underwriter for the Shares. (bc) Each Agent agrees, severally and not jointly, The Underwriter agrees to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act and the Selling Stockholder to the same extent as the foregoing indemnity from the Transaction Entities to such Agentset forth in Section 10(a) and 10(b), but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statements statement or omissions, omission or alleged untrue statements statement or omissions, omission made in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to the Agent Underwriter furnished to the Company in writing by or on behalf of the Underwriter expressly for use in the Registration Statement, the Pricing Prospectus (or any amendment or supplement thereto), the Prospectus (or any amendment or supplement thereto), the Pricing Date Information, any Permitted Free Writing Prospectus (or any amendment or supplement thereto) or any Pricing FWP; it being understood that such information shall consist solely of the following: the third, ninth and tenth paragraphs under the heading “Underwriting” in the Preliminary Prospectus. (cd) In case If any suit, action, proceeding (including any governmental or regulatory investigation) ), claim or demand shall be instituted involving brought or asserted against any person in respect of which indemnity indemnification may be sought pursuant to the preceding paragraphs of this Section 9(a) or 9(b)10, such person (the “indemnified partyIndemnified Person”) shall promptly notify the person against whom such indemnity indemnification may be sought (the “indemnifying partyIndemnifying Person”) in writing and writing; provided that the indemnifying party failure to notify the Indemnifying Person shall be entitled to participate therein and, not relieve it from any liability that it may have under this Section 10 except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall elect, jointly with not relieve it from any other indemnifying party similarly notified, liability that it may have to assume an Indemnified Person otherwise than under this Section 10. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the defense Indemnifying Person thereof, with the Indemnifying Person shall retain counsel reasonably satisfactory to the indemnified party Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to represent the indemnified party Indemnified Person and any others entitled to indemnification pursuant to this Section 10 that the indemnifying party Indemnifying Person may designate in such proceeding and shall pay the fees and disbursements expenses of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof, as incurred. In any such proceeding, any indemnified party Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party Indemnified Person unless (i) the indemnifying party Indemnifying Person and the indemnified party Indemnified Person shall have mutually agreed to the retention of such counsel, contrary; (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or Indemnified Person; (iviii) the indemnified party Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying partyIndemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood and agreed that the indemnifying party Indemnifying Person shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties Indemnified Persons, and that all such reasonable fees and expenses shall be paid or reimbursed as they are incurred. If Any such separate firm for the indemnifying party does not elect to assume Underwriter, its affiliates, partners, directors and officers and any control persons of the defense, then such firm Underwriter shall be designated in writing by the AgentsUnderwriter and any such separate firm for the Company, its directors, its officers who signed the Registration Statement and any control persons of the Company shall be designated in the case of parties indemnified pursuant to Section 9(a), and writing by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but but, if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party Indemnifying Person agrees to indemnify the indemnified party each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party Indemnifying Person shall, without the prior written consent of the indemnified partyIndemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party Indemnified Person is or could have been a party and indemnity indemnification could have been sought hereunder by such indemnified partyIndemnified Person, unless such settlement (x) includes an unconditional release of such indemnified partyIndemnified Person, in form and substance reasonably satisfactory to such indemnified partyIndemnified Person, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyIndemnified Person. (de) To the extent If the indemnification provided for in Section 9(aSections 10(a), 10(b) or 9(band 10(c) above is unavailable to an indemnified party Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party Indemnifying Person under such paragraphSections, in lieu of indemnifying such indemnified party Indemnified Person thereunder, shall contribute to the amount paid or payable by such indemnified party Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany and the Selling Stockholder, on the one hand, and the Agents, Underwriter on the other handother, from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesCompany and the Selling Stockholder, on the one hand, and of the Agents, Underwriter on the other handother, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesCompany and the Selling Stockholder, on the one hand, and the Agents, Underwriter on the other handother, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and Selling Stockholder from the sale of the Shares to the total underwriting discounts and commissions received by the Agents Underwriter in connection with the offering of the Shares, therewith bear to the aggregate Gross Sales Price offering price of the Shares. The relative fault of the Transaction EntitiesCompany and the Selling Stockholder, on the one hand, and the Agents, Underwriter on the other handother, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company and the Selling Stockholder or by the Agents Underwriter and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (ef) The Transaction Entities Company, the Selling Stockholder and the Agents Underwriter agree that it would not be just or and equitable if contribution pursuant to this Section 9 10 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)10(e) above. The amount paid or payable by an indemnified party Indemnified Person as a result of the losses, claims, damages and liabilities referred to in Section 9(d10(e) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party Indemnified Person in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 910, in no Agent event (i) shall the Underwriter be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such Agent in connection the Underwriter with respect to the offering of the Shares exceeds the amount of any damages that such Agent the Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omissionomission and (ii) in no event shall the Selling Stockholder be required to contribute (x) other than to the extent the losses, claims, damages, liabilities or expenses arose from the written information furnished to the Company by the Selling Stockholder expressly for use in the Registration Statement, the Pricing Prospectus (or any amendment or supplement thereto), the Prospectus (or any amendment or supplement thereto), the Pricing Date Information, any Permitted Free Writing Prospectus (or any amendment or supplement thereto) or any Pricing FWP, it being understood that the only such information furnished by the Selling Stockholder consists of the information about the Selling Stockholder set forth in the “Selling Stockholder” section of Preliminary Prospectus and the Prospectus, or (y) any amount in excess of the aggregate net proceeds before expenses received by the Selling Stockholder from the Underwriter for the Shares. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. . (g) The remedies provided for in this Section 9 10 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party Indemnified Person at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Citadel L P), Underwriting Agreement (E Trade Financial Corp)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each Agentthe Underwriter, its affiliates, directorspartners, directors and officers, members and employees employees, agents and each person, if any, who controls any Agent the Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any reasonable out of pocket legal or fees and other expenses reasonably incurred in connection with defending or investigating any such suit, action or claimproceeding or any claim asserted, as such fees and expenses are incurred) arising that arise out of of, or are based upon upon, (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading or (ii) any untrue statement or alleged untrue statement of a material fact contained in the Prospectus (or any amendment or supplement thereto), Pricing Date Information, any Permitted Free Writing Prospectus (or any amendment or supplement thereto), any Pricing FWP or caused by any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to the Underwriter furnished to the Company in writing by or on behalf of the Underwriter expressly for use in the Registration Statement Statement, the Prospectus (or any amendment thereofor supplement thereto), the Prospectus or Pricing Date Information, any Permitted Free Writing ProspectusProspectus (or any amendment or supplement thereto) or any Pricing FWP, it being understood that such information consists solely of the information specified in Section 10(c)). (b) The Selling Stockholder agrees to indemnify and hold harmless the Underwriter, its affiliates, directors and officers, employees, agents and each person, if any, who controls the Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in paragraph (a) above, to the extent such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to the Agent Selling Stockholder furnished to the Company in writing by the Selling Stockholder expressly for use in the Registration Statement, the Prospectus (or any amendment or supplement thereto), the Pricing Date Information, any Permitted Free Writing Prospectus (or any amendment or supplement thereto) or any Pricing FWP, it being understood that such information consists solely of the information about the Selling Stockholder set forth in the “Selling Stockholder” section of the Prospectus. In no event shall the Selling Stockholder be required pursuant to this Section 10(b) to indemnify the Underwriter in an amount in excess of the net proceeds before expenses received by the Selling Stockholder from the Underwriter for the Shares. (bc) Each Agent agrees, severally and not jointly, The Underwriter agrees to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act and the Selling Stockholder to the same extent as the foregoing indemnity from the Transaction Entities to such Agentset forth in Section 10(a) and 10(b), but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statements statement or omissions, omission or alleged untrue statements statement or omissions, omission made in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to the Agent Underwriter furnished to the Company in writing by or on behalf of the Underwriter expressly for use in the Registration Statement, the Prospectus (or any amendment or supplement thereto), the Pricing Date Information, any Permitted Free Writing Prospectus (or any amendment or supplement thereto) or any Pricing FWP; it being understood that such information shall consist solely of the following: the first two sentences of the second paragraph, the seventh and eighth paragraphs under the heading “Underwriting” in the Prospectus. (cd) In case If any suit, action, proceeding (including any governmental or regulatory investigation) ), claim or demand shall be instituted involving brought or asserted against any person in respect of which indemnity indemnification may be sought pursuant to the preceding paragraphs of this Section 9(a) or 9(b)10, such person (the “indemnified partyIndemnified Person”) shall promptly notify the person against whom such indemnity indemnification may be sought (the “indemnifying partyIndemnifying Person”) in writing and writing; provided that the indemnifying party failure to notify the Indemnifying Person shall be entitled to participate therein and, not relieve it from any liability that it may have under this Section 10 except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall elect, jointly with not relieve it from any other indemnifying party similarly notified, liability that it may have to assume an Indemnified Person otherwise than under this Section 10. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the defense Indemnifying Person thereof, with the Indemnifying Person shall retain counsel reasonably satisfactory to the indemnified party Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to represent the indemnified party Indemnified Person and any others entitled to indemnification pursuant to this Section 10 that the indemnifying party Indemnifying Person may designate in such proceeding and shall pay the fees and disbursements expenses of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof, as incurred. In any such proceeding, any indemnified party Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party Indemnified Person unless (i) the indemnifying party Indemnifying Person and the indemnified party Indemnified Person shall have mutually agreed to the retention of such counsel, contrary; (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or Indemnified Person; (iviii) the indemnified party Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying partyIndemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood and agreed that the indemnifying party Indemnifying Person shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties Indemnified Persons, and that all such reasonable fees and expenses shall be paid or reimbursed as they are incurred. If Any such separate firm for the indemnifying party does not elect to assume Underwriter, its affiliates, partners, directors and officers, employees, agents and any control persons of the defense, then such firm Underwriter shall be designated in writing by the AgentsUnderwriter and any such separate firm for the Company, its directors, its officers who signed the Registration Statement and any control persons of the Company shall be designated in the case of parties indemnified pursuant to Section 9(a), and writing by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but but, if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party Indemnifying Person agrees to indemnify the indemnified party each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party Indemnifying Person shall, without the prior written consent of the indemnified partyIndemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party Indemnified Person is or could have been a party and indemnity indemnification could have been sought hereunder by such indemnified partyIndemnified Person, unless such settlement (x) includes an unconditional release of such indemnified partyIndemnified Person, in form and substance reasonably satisfactory to such indemnified partyIndemnified Person, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyIndemnified Person. (de) To the extent If the indemnification provided for in Section 9(aSections 10(a), 10(b) or 9(band 10(c) above is unavailable to an indemnified party Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party Indemnifying Person under such paragraphSections, in lieu of indemnifying such indemnified party Indemnified Person thereunder, shall contribute to the amount paid or payable by such indemnified party Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany and the Selling Stockholder, on the one hand, and the Agents, Underwriter on the other handother, from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesCompany and the Selling Stockholder, on the one hand, and of the Agents, Underwriter on the other handother, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesCompany and the Selling Stockholder, on the one hand, and the Agents, Underwriter on the other handother, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and Selling Stockholder from the sale of the Shares to the total underwriting discounts and commissions received by the Agents Underwriter in connection with the offering of the Shares, therewith bear to the aggregate Gross Sales Price offering price of the Shares. The relative fault of the Transaction EntitiesCompany and the Selling Stockholder, on the one hand, and the Agents, Underwriter on the other handother, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company and the Selling Stockholder or by the Agents Underwriter and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (ef) The Transaction Entities Company, the Selling Stockholder and the Agents Underwriter agree that it would not be just or and equitable if contribution pursuant to this Section 9 10 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)10(e) above. The amount paid or payable by an indemnified party Indemnified Person as a result of the losses, claims, damages and liabilities referred to in Section 9(d10(e) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party Indemnified Person in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 910, in no Agent event (i) shall the Underwriter be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such Agent in connection the Underwriter with respect to the offering of the Shares exceeds the amount of any damages that such Agent the Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omissionomission and (ii) in no event shall the Selling Stockholder be required to contribute (x) other than to the extent the losses, claims, damages, liabilities or expenses arose from the written information furnished to the Company by the Selling Stockholder expressly for use in the Registration Statement, the Prospectus (or any amendment or supplement thereto), the Pricing Date Information, any Permitted Free Writing Prospectus (or any amendment or supplement thereto) or any Pricing FWP, it being understood that the only such information furnished by the Selling Stockholder consists of the information about the Selling Stockholder set forth in the “Selling Stockholder” section of Prospectus, or (y) any amount in excess of the aggregate net proceeds before expenses received by the Selling Stockholder from the Underwriter for the Shares. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. . (g) The remedies provided for in this Section 9 10 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party Indemnified Person at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Citadel L P), Underwriting Agreement (E TRADE FINANCIAL Corp)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each Agentthe Underwriter, its affiliates, directorspartners, officers, members directors and employees officers and each person, if any, who controls any Agent the Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any reasonable out of pocket legal or fees and other expenses reasonably incurred in connection with defending or investigating any such suit, action or claimproceeding or any claim asserted, as such fees and expenses are incurred) arising that arise out of of, or are based upon upon, (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading or (ii) any untrue statement or alleged untrue statement of a material fact contained in the Pricing Prospectus (or any amendment or supplement thereto), the Prospectus (or any amendment or supplement thereto), the Pricing Date Information, any Permitted Free Writing Prospectus (or any amendment or supplement thereto), any Pricing FWP or caused by any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to the Underwriter furnished to the Company in writing by or on behalf of the Underwriter expressly for use in the Registration Statement Statement, the Pricing Prospectus (or any amendment thereofor supplement thereto), the Prospectus (or any amendment or supplement thereto), the Pricing Date Information, any Permitted Free Writing ProspectusProspectus (or any amendment or supplement thereto) or any Pricing FWP, it being understood that such information consists solely of the information specified in Section 10(c)). (b) The Selling Stockholder agrees to indemnify and hold harmless the Underwriter, its affiliates, directors and officers and each person, if any, who controls the Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in paragraph (a) above, to the extent such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to the Agent Selling Stockholder furnished to the Company in writing by the Selling Stockholder expressly for use in the Registration Statement, the Pricing Prospectus (or any amendment or supplement thereto), the Prospectus (or any amendment or supplement thereto), the Pricing Date Information, any Permitted Free Writing Prospectus (or any amendment or supplement thereto) or any Pricing FWP, it being understood that such information consists solely of the information about the Selling Stockholder set forth in the “Selling Stockholder” section of the Preliminary Prospectus. In no event shall the Selling Stockholder be required pursuant to this Section 10(b) to indemnify the Underwriter in an amount in excess of the net proceeds before expenses received by the Selling Stockholder from the Underwriter for the Shares and Class A Debentures, if applicable. (bc) Each Agent agrees, severally and not jointly, The Underwriter agrees to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act and the Selling Stockholder to the same extent as the foregoing indemnity from the Transaction Entities to such Agentset forth in Section 10(a) and 10(b), but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statements statement or omissions, omission or alleged untrue statements statement or omissions, omission made in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to the Agent Underwriter furnished to the Company in writing by or on behalf of the Underwriter expressly for use in the Registration Statement, the Pricing Prospectus (or any amendment or supplement thereto), the Prospectus (or any amendment or supplement thereto), the Pricing Date Information, any Permitted Free Writing Prospectus (or any amendment or supplement thereto) or any Pricing FWP; it being understood that such information shall consist solely of the following: the second, eighth and ninth paragraphs under the heading “Underwriting” in the Preliminary Prospectus. (cd) In case If any suit, action, proceeding (including any governmental or regulatory investigation) ), claim or demand shall be instituted involving brought or asserted against any person in respect of which indemnity indemnification may be sought pursuant to the preceding paragraphs of this Section 9(a) or 9(b)10, such person (the “indemnified partyIndemnified Person”) shall promptly notify the person against whom such indemnity indemnification may be sought (the “indemnifying partyIndemnifying Person”) in writing and writing; provided that the indemnifying party failure to notify the Indemnifying Person shall be entitled to participate therein and, not relieve it from any liability that it may have under this Section 10 except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall elect, jointly with not relieve it from any other indemnifying party similarly notified, liability that it may have to assume an Indemnified Person otherwise than under this Section 10. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the defense Indemnifying Person thereof, with the Indemnifying Person shall retain counsel reasonably satisfactory to the indemnified party Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to represent the indemnified party Indemnified Person and any others entitled to indemnification pursuant to this Section 10 that the indemnifying party Indemnifying Person may designate in such proceeding and shall pay the fees and disbursements expenses of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof, as incurred. In any such proceeding, any indemnified party Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party Indemnified Person unless (i) the indemnifying party Indemnifying Person and the indemnified party Indemnified Person shall have mutually agreed to the retention of such counsel, contrary; (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or Indemnified Person; (iviii) the indemnified party Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying partyIndemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood and agreed that the indemnifying party Indemnifying Person shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties Indemnified Persons, and that all such reasonable fees and expenses shall be paid or reimbursed as they are incurred. If Any such separate firm for the indemnifying party does not elect to assume Underwriter, its affiliates, partners, directors and officers and any control persons of the defense, then such firm Underwriter shall be designated in writing by the AgentsUnderwriter and any such separate firm for the Company, its directors, its officers who signed the Registration Statement and any control persons of the Company shall be designated in the case of parties indemnified pursuant to Section 9(a), and writing by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but but, if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party Indemnifying Person agrees to indemnify the indemnified party each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party Indemnifying Person shall, without the prior written consent of the indemnified partyIndemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party Indemnified Person is or could have been a party and indemnity indemnification could have been sought hereunder by such indemnified partyIndemnified Person, unless such settlement (x) includes an unconditional release of such indemnified partyIndemnified Person, in form and substance reasonably satisfactory to such indemnified partyIndemnified Person, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyIndemnified Person. (de) To the extent If the indemnification provided for in Section 9(aSections 10(a), 10(b) or 9(band 10(c) above is unavailable to an indemnified party Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party Indemnifying Person under such paragraphSections, in lieu of indemnifying such indemnified party Indemnified Person thereunder, shall contribute to the amount paid or payable by such indemnified party Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany and the Selling Stockholder, on the one hand, and the Agents, Underwriter on the other handother, from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesCompany and the Selling Stockholder, on the one hand, and of the Agents, Underwriter on the other handother, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesCompany and the Selling Stockholder, on the one hand, and the Agents, Underwriter on the other handother, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Selling Stockholder from the sale of the Shares and Class A Debentures, if applicable, to the total underwriting discounts and commissions received by the Agents Underwriter in connection with the offering of the Shares, therewith bear to the aggregate Gross Sales Price offering price of the Shares. The relative fault of the Transaction EntitiesCompany and the Selling Stockholder, on the one hand, and the Agents, Underwriter on the other handother, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company and the Selling Stockholder or by the Agents Underwriter and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (ef) The Transaction Entities Company, the Selling Stockholder and the Agents Underwriter agree that it would not be just or and equitable if contribution pursuant to this Section 9 10 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)10(e) above. The amount paid or payable by an indemnified party Indemnified Person as a result of the losses, claims, damages and liabilities referred to in Section 9(d10(e) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party Indemnified Person in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 910, in no Agent event (i) shall the Underwriter be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such Agent in connection the Underwriter with respect to the offering of the Shares exceeds the amount of any damages that such Agent the Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omissionomission and (ii) in no event shall the Selling Stockholder be required to contribute (x) other than to the extent the losses, claims, damages, liabilities or expenses arose from the written information furnished to the Company by the Selling Stockholder expressly for use in the Registration Statement, the Pricing Prospectus (or any amendment or supplement thereto), the Prospectus (or any amendment or supplement thereto), the Pricing Date Information, any Permitted Free Writing Prospectus (or any amendment or supplement thereto) or any Pricing FWP, it being understood that the only such information furnished by the Selling Stockholder consists of the information about the Selling Stockholder set forth in the “Selling Stockholder” section of Preliminary Prospectus and the Prospectus, or (y) any amount in excess of the aggregate net proceeds before expenses received by the Selling Stockholder from the Underwriter for the Shares. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. . (g) The remedies provided for in this Section 9 10 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party Indemnified Person at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Citadel L P), Underwriting Agreement (E Trade Financial Corp)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliateseach director, directorsofficer and employee of each Underwriter, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, the Time of Sale Prospectus or any preliminary prospectusamendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectusthereto, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent Company in writing by such Underwriter through the Representative expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representative consists of the following information in the Prospectus furnished on behalf of each Underwriter: the third and twelfth paragraphs under the caption “Underwriters” in the Prospectus (the “Underwriter Information”), or the Selling Shareholder Information. (b) Each Agent Selling Shareholder agrees, severally and not jointly, to indemnify and hold harmless each Transaction EntityUnderwriter, each director, officer and employee of each Underwriter, each person, if any, who controls any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act and each affiliate of any Underwriter within the meaning of Rule 405 of the Securities Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, the Prospectus or any amendment or supplement thereto, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to the Selling Shareholder Information furnished in writing by or on behalf of such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, any issuer free writing prospectus, road show or the Prospectus or any amendment or supplement thereto. The liability of each Selling Shareholder under the indemnity agreement contained in this paragraph shall be limited to an amount equal to the aggregate Purchase Price (but before payment of expenses) of the Shares sold by such Selling Shareholder under this Agreement (with respect to each Selling Shareholder, the “Selling Shareholder Proceeds”). (c) Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company’s directors, the Selling Shareholders, the directors of the Company, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or any Selling Shareholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such Agentaction or claim) that arise out of, but only with respect to or are based upon, any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show or the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, in reliance upon and in conformity or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to the Agent Underwriter Information. (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a11(a), 11(b) or 9(b11(c), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, them or (iii) the indemnifying party has failed within a reasonable time to retain timely appoint counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the reasonably incurred fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters, their respective directors, officers and employees, and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the reasonably incurred fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section and (iii) the reasonably incurred fees and expenses of more than one separate firm (in addition to any local counsel) for all Selling Shareholders and all persons, if any, who control any Selling Shareholder within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons and directors, then officers, employees or affiliates of any Underwriters, such firm shall be designated in writing by the Agents, in Representative. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in Company. In the case of parties indemnified pursuant to Section 9(b)any such separate firm for the Selling Shareholders and such control persons of any Selling Shareholders, such firm shall be designated in writing by the persons named as attorneys-in-fact for the Selling Shareholders under the Powers of Attorney. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any a statement as to or any an admission of fault, culpability or a failure to act act, by or on behalf of any an indemnified party. (de) To the extent the indemnification provided for in Section 9(a11(a), 11(b) or 9(b11(c) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i11(e)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i11(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company and the Selling Shareholders on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities each Selling Shareholder and the total discounts and commissions amount deemed to be underwriting compensation received by the Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price of the SharesUnderwriters. The relative fault of the Transaction Entities, indemnifying party on the one hand, hand and the Agents, indemnified party on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company, the Selling Shareholders or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 11 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth liability of each Selling Shareholder under the contribution agreement contained in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice paragraph shall be required with respect limited to any action for which notice has been given under section 9(d) hereof for purposes of indemnificationan amount equal to the Selling Shareholder Proceeds. (ef) The Transaction Entities Each of the Company, the Selling Shareholders and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 11 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d11(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d11(e) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 911, (i) no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission and (ii) no Selling Shareholder shall be required to contribute an amount in excess of the amount by which the Selling Shareholder Proceeds exceed the amount of any damages that such Selling Shareholder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 11 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fg) Nothing in this Section 11 is intended to, or shall, supersede the respective indemnification and contribution obligations of the Company and the Selling Shareholder, but only as between themselves, as provided in the Shareholder Rights Agreement. (h) The indemnity and contribution provisions contained in this Section 9 11 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company and the Selling Shareholders contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, its directors, officers or employees, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter, by or on behalf of any Selling Shareholder or any person controlling any Selling Shareholder, or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (CCC Intelligent Solutions Holdings Inc.), Underwriting Agreement (CCC Intelligent Solutions Holdings Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, its officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Underwriter Information. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Underwriter Information. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a10(a) or 9(b10(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the writing, but failure to so notify an indemnifying party shall be entitled to participate therein and, not relieve such indemnifying party from any liability hereunder to the extent that it is not materially prejudiced as a result thereof and in any event shall electnot relieve it from any liability which it may have otherwise than on account of this indemnity agreement. The indemnifying party, jointly with any other indemnifying party similarly notifiedupon request of the indemnified party, to assume the defense thereof, with shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party person, or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsManager authorized to appoint counsel under this Section set forth in Schedule I hereto, in the case of parties indemnified pursuant to Section 9(a10(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b10(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyproceeding. (d) To the extent the indemnification provided for in Section 9(a10(a) or 9(b10(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i10(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i10(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents in connection with the offering of the Shares, Underwriters bear to the aggregate Gross Sales Price initial public offering price of the SharesShares set forth in the Prospectus. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 10 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 10 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d10(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d10(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 910, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 10 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 10 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Orchid Island Capital, Inc.), Underwriting Agreement (Orchid Island Capital, Inc.)

Indemnity and Contribution. (a) Each of The Fund, the Transaction EntitiesInvestment Adviser and the Administrator, jointly and severally, agrees agree to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act and each partner, director, officer, trustee, manager, member and shareholder of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Underwriter Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) ), caused by, arising out of of, related to or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, any Omitting Prospectus, any Road Show Material, the Time of Sale Prospectus, or the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectusthereto, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities are arising out or based upon caused by any such untrue statement or omission or alleged untrue statement or omission made in based upon written information furnished to the Registration Statement or Fund by the Representative on behalf of any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent InformationUnderwriter expressly for use therein. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entityof the Fund, the Company’s Investment Adviser and the Administrator, and each of their respective partners, directors, officers trustees, managers, members and shareholders (as the case may be), and each officer of the Fund who signed signs the Registration Statement and each person, if any, who controls either of the Transaction Entities Fund, the Investment Adviser and/or the Administrator within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, a “Fund Indemnified Party”) to the same extent as the foregoing indemnity from the Transaction Entities Fund, the Investment Adviser and the Administrator to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made written information relating to the Underwriters furnished to the Fund by the Representative on behalf of any Underwriter expressly for use in the Registration Statement Statement, as originally filed with the Commission, or any amendment thereof, any preliminary prospectus, any Omitting Prospectus, any Road Show Material, the Time of Sale Prospectus or the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationthereto. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements reasonably incurred of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the use of counsel chosen by the indemnifying party to represent the indemnified party would present such counsel with an actual conflict of interest, or (iii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that and/or other indemnified parties which are different from or in addition additional to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses reasonably incurred of more than one separate firm (in addition to one any local counsel) for all such indemnified parties Underwriter Indemnified Parties, collectively, and that all such reasonable (ii) the fees and expenses shall be reimbursed as they are incurredreasonably incurred of more than one separate firm (in addition to any local counsel) for all Fund Indemnified Parties, collectively. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriter Indemnified Parties, then such firm shall be designated in writing by the Agents, in Representative. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Fund Indemnified Parties, and such firm shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)Fund. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be is a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for the reasonable fees and expenses of counsel as contemplated by the second and third sentences of this paragraphSection 8(c), the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; , (ii) such indemnifying party shall have received notice of the material terms of such settlement at least 30 days prior to such settlement being entered into, and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyproceeding. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesFund, the Investment Adviser and/or the Administrator on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction EntitiesFund, the Investment Adviser and/or the Administrator on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesFund, the Investment Adviser and/or the Administrator on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Fund and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction EntitiesFund, the Investment Adviser and/or the Administrator on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Fund, the Investment Adviser or the Administrator or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Fund, the Investment Adviser, the Administrator and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Fund, the Investment Adviser and the Administrator contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent Underwriter Indemnified Party or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity Fund Indemnified Party and (iii) any acceptance of and payment for any of the Shares. (g) For purposes No party shall be entitled to indemnification under this Section 8 if such indemnification of clarity and without limitation to any provision of this Agreement, the obligations such party would violate Section 17(i) of the Agents under this Agreement are several and not jointInvestment Company Act.

Appears in 2 contracts

Sources: Underwriting Agreement (Full Circle Capital Corp), Underwriting Agreement (Full Circle Capital Corp)

Indemnity and Contribution. (a) Each of The Company and the Transaction EntitiesOperating Partnership, jointly and severally, agrees agree to indemnify and hold harmless each [Name of Agent], its affiliates, directors, officers, members directors and employees officers and each person, if any, who controls any Agent [Name of Agent] within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any reasonable out of pocket legal or fees and other expenses reasonably incurred in connection with defending or investigating any such suit, action or claimproceeding or any claim asserted, as such fees and expenses are incurred) arising that arise out of of, or are based upon upon, (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein, not misleading or (ii) any untrue statement or alleged untrue statement of a material fact contained in the Prospectus (or any amendment or supplement thereto), any Permitted Free Writing Prospectus (or any amendment or supplement thereto) or caused by any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to [Name of Agent] furnished to the Agent InformationCompany in writing by or on behalf of [Name of Agent] expressly for use in the Registration Statement, the Prospectus (or any amendment or supplement thereto) or any Permitted Free Writing Prospectus (it being understood that such information consists solely of the information specified in Section 9(b)). (b) Each Agent agrees, severally and not jointly, [Name of Agent] agrees to indemnify and hold harmless the Company and the Operating Partnership and each Transaction Entity, of the Company’s directors, each of the Company’s officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or the Operating Partnership within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agentset forth in Section 9(a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statements statement or omissions, omission or alleged untrue statements statement or omissions, omission made in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to [Name of Agent] furnished to the Agent InformationCompany in writing by or on behalf of [Name of Agent] expressly for use in the Registration Statement, the Basic Prospectus, the Prospectus (or any amendment or supplement thereto), any Permitted Free Writing Prospectus, it being understood and agreed upon that such information shall consist solely of the following: [Name of Agent]’s name and the third sentence of the second paragraph, the third paragraph and the first and second sentence of the eighth paragraph under the heading “Plan of Distribution” in the Prospectus Supplement. (c) In case If any suit, action, proceeding (including any governmental or regulatory investigation) ), claim or demand shall be instituted involving brought or asserted against any person in respect of which indemnity indemnification may be sought pursuant to either Section 9(a) or 9(b)) above, such person (the “indemnified partyIndemnified Person”) shall promptly notify the person against whom such indemnity indemnification may be sought (the “indemnifying partyIndemnifying Person”) in writing and writing; provided that the indemnifying party failure to notify the Indemnifying Person shall be entitled to participate therein and, not relieve it from any liability that it may have under this Section 9 except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall electnot relieve it from any liability that it may have to an Indemnified Person otherwise than under this Section 9. In the case of parties indemnified pursuant to Section 9(a) above, jointly with any other indemnifying party similarly notifiedcounsel to the Indemnified Person shall be selected by [Name of Agent], and, in the case of parties indemnified pursuant to assume Section 9(b) above, counsel to the Indemnified Person shall be selected by the Company. An Indemnifying Person may participate at its own expense in the defense thereofof any such action; provided, with however, that counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and Indemnifying Person shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection not (except with the defense thereof. In any such proceeding, any indemnified party shall have consent of the right to retain its own counsel, but the fees and expenses of such Indemnified Person) also be counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying partyIndemnified Person. It is understood and agreed that the indemnifying party Indemnifying Person shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings proceeding in the same jurisdiction, be liable for the reasonable fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties Indemnified Persons, and that all such reasonable fees and expenses shall be paid or reimbursed as they are incurred. If Any such separate firm for [Name of Agent], its affiliates, directors and officers and any control persons of [Name of Agent] shall be designated in writing by [Name of Agent] and any such separate firm for the indemnifying party does not elect to assume Company, its directors, its officers who signed the defense, then such firm Registration Statement and any control persons of the Company shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party Indemnifying Person agrees to indemnify the indemnified party each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party Indemnifying Person shall, without the prior written consent of the indemnified partyIndemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party Indemnified Person is or could have been a party and indemnity indemnification could have been sought hereunder by such indemnified partyIndemnified Person, unless such settlement (x) includes an unconditional release of such indemnified partyIndemnified Person, in form and substance reasonably satisfactory to such indemnified partyIndemnified Person, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyIndemnified Person. If at any time an Indemnified Person shall have requested an Indemnifying Person to reimburse the Indemnified Person for fees and expenses of counsel, such Indemnifying Person agrees that it shall be liable for any settlement of the nature contemplated by this Section 9(c) effected without its written consent if (i) such settlement is entered into more than 45 days after receipt by such Indemnifying Person of the aforesaid request, (ii) such Indemnifying Person shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into and (iii) such Indemnifying Person shall not have reimbursed such Indemnified Person in accordance with such request prior to the date of such settlement. (d) To the extent If the indemnification provided for in Section Sections 9(a) or and 9(b) above is unavailable to an indemnified party Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party Indemnifying Person under such paragraphSections, in lieu of indemnifying such indemnified party Indemnified Person thereunder, shall contribute to the amount paid or payable by such indemnified party Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany and the Operating Partnership, on the one hand, and the Agents[Name of Agent], on the other handother, from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesCompany and the Operating Partnership, on the one hand, and [Name of the AgentsAgent], on the other handother, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesCompany and the Operating Partnership, on the one hand, and the Agents[Name of Agent], on the other handother, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the Operating Partnership from the sale of the Shares and the total underwriting discounts and commissions received by the Agents [Name of Agent] in connection with the offering of the Shares, therewith bear to the aggregate Gross Sales Price of the SharesPrice. The relative fault of the Transaction EntitiesCompany and the Operating Partnership, on the one hand, and the Agents[Name of Agent], on the other handother, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company and Operating Partnership, on the one hand, or by [Name of Agent], on the Agents other, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company, the Operating Partnership and the Agents [Name of Agent] agree that it would not be just or and equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)) above. The amount paid or payable by an indemnified party Indemnified Person as a result of the losses, claims, damages and liabilities referred to in Section 9(d) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party Indemnified Person in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, in no Agent event shall [Name of Agent] be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such Agent in connection [Name of Agent] with respect to the offering of the Shares exceeds the amount of any damages that such Agent [Name of Agent] has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. . (f) The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party Indemnified Person at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Distribution Agreement (DCT Industrial Operating Partnership LP), Distribution Agreement (DCT Industrial Trust Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each Agent, Agent and its respective affiliates, directors, directors and officers, members and employees and each person, if any, who controls any Agent of the Agents within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) from and against any and all losses, liabilities, claims, damages and liabilities expenses whatsoever incurred (including, without limitationbut not limited to, attorneys’ fees and any legal or other and all expenses reasonably whatsoever incurred in connection with investigating, preparing or defending against any litigation, commenced or investigating threatened, or any claim whatsoever, and any and all amounts paid in settlement of any claim or litigation), joint or several, to which they or any of them may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such action losses, liabilities, claims, damages or claimexpenses (or actions in respect thereof) arising arise out of or are based upon (i) any untrue statement or alleged untrue statement of a material fact contained in either the Registration Statement or any amendment thereof, any preliminary prospectusStatement, the Prospectus or any amendment or supplement thereto or Prospectus, any Permitted Free Writing Prospectus, or arising out of any amendments or based upon supplements thereto, or in any “issuer information” (as defined in Rule 433(h)(2) under the Securities Act) filed or required to be filed pursuant to Rule 433(d) under the Securities Act or any “road show” (as defined in Rule 433(h) under the Act) or (ii) the omission or alleged omission to state therein in the (A) Registration Statement, as originally filed or any amendment thereof, a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as or (B) in the Prospectus, any Permitted Free Writing Prospectus, or any amendments or supplements thereto, or in any “issuer information” or any “road show” a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that the Company will not be liable in any such lossescase to the extent but only to the extent that any such loss, claimsliability, damages claim, damage or liabilities are arising expense arises out of or is based upon any such untrue statement or omission or alleged untrue statement or omission or alleged omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, therein in reliance upon and in conformity with written information furnished to the Company by or on behalf of any Agent expressly for use therein, which information is limited to the information set forth in Section 9(e) (the “Agent Information”). (b) Each Agent agreesAgent, severally and not jointly, to shall indemnify and hold harmless each Transaction Entity, the Company’s directors, its respective affiliates, directors and officers who shall have signed the Registration Statement Statement, and each other person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such AgentAct, against any losses, liabilities, claims, damages and expenses whatsoever incurred (including, but only with not limited to, attorneys’ fees and any and all expenses whatsoever incurred in investigating, preparing or defending against any litigation, commenced or threatened, or any claim whatsoever, and any and all amounts paid in settlement of any claim or litigation), joint or several, to which they or any of them may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such losses, liabilities, claims, damages or expenses (or actions in respect to thereof) arise out of or are based upon (i) any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in either the Registration Statement or any amendment thereofStatement, the Prospectus or any amendment or supplement thereto or Prospectus, any Permitted Free Writing Prospectus, or any amendments or supplements thereto, or (ii) the omission or alleged omission to state in the (A) Registration Statement, as originally filed or any amendment thereof, a material fact required to be stated therein or necessary to make the statements therein not misleading, or (B) in the Prospectus, any Permitted Free Writing Prospectus, or any amendments or supplements thereto, a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, to the extent, but only to the extent, that any such loss, liability, claim, damage or expense arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with the Agent Information. (c) Promptly after receipt by an indemnified party under subsection (a) or (b) above of notice of any claims or the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection, notify each party against whom indemnification is to be sought in writing of the claim or the commencement thereof (but the failure so to notify an indemnifying party shall not relieve the indemnifying party from any liability which it may have under this Section 9 or from any liability that it may have otherwise than under this Section 9). In case any proceeding (including such claim or action is brought against any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or 9(b), such person (the “indemnified party”) shall promptly notify , and it notifies an indemnifying party of the person against whom such indemnity may be sought (the “indemnifying party”) in writing and commencement thereof, the indemnifying party shall will be entitled to participate therein andtherein, and to the extent that it shall elect, jointly with any other indemnifying may elect by written notice delivered to the indemnified party similarly notifiedpromptly after receiving the aforesaid notice from such indemnified party, to assume the defense thereof, thereof with counsel reasonably satisfactory to such indemnified party. Notwithstanding the foregoing, the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party parties shall have the right to retain employ its or their own counselcounsel in any such case, but the fees and expenses of such counsel shall be at the expense of such indemnified party or parties unless (i) the indemnifying party and the indemnified party employment of such counsel shall have mutually agreed to been authorized in writing by one of the retention indemnifying parties in connection with the defense of such counselaction, (ii) the indemnifying parties shall not have employed counsel to have charge of the defense of such action within a reasonable time after notice of commencement of the action, (iii) such indemnified party or parties shall have reasonably concluded that there may be defenses available to it or them which are different from or additional to those available to one or all of the indemnifying parties (in which case the indemnifying parties shall not have the right to direct the defense of such action on behalf of the indemnified party or parties) or (iv) the named parties to in any such proceeding (including any impleaded impleading parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests interest between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect any of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one local counsel) for all which events such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If borne by the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered intoparties. No indemnifying party shall, without the prior written consent of the indemnified partyparties, effect any settlement or compromise of, or consent to the entry of judgment with respect to, any pending or threatened claim, investigation, action or proceeding in respect of which any the indemnified party is or reasonably could have been a party and indemnity or contribution may be or could have been sought hereunder by such the indemnified party, unless such settlement settlement, compromise or judgment (xi) includes an unconditional release of such the indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter arising out of such claim, investigation, action or proceeding and (yii) does not include any a statement as to or any an admission of fault, culpability or a any failure to act act, by or on behalf of any the indemnified party. (d) To the extent If the indemnification provided for in Section Sections 9(a) or and 9(b) above is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraphSections, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany, on the one hand, and the applicable Agents, on the other handother, from the offering of the Shares pursuant to this Agreement and any Terms Agreements or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesCompany, on the one hand, and of the applicable Agents, on the other handother, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesCompany, on the one hand, and the applicable Agents, on the other handother, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company from the sale of the Shares pursuant to this Agreement and any Terms Agreements and the total discounts and commissions received by the Agents in connection with the offering of the Shares, therewith bear to the aggregate Gross Sales Price of the such Shares. The relative fault of the Transaction EntitiesCompany, on the one hand, and the applicable Agents, on the other handother, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company, on the one hand, or by the Agents applicable Agents, on the other hand, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Agents severally confirm and the Company acknowledges and agrees that the name of each Agent constitutes the only information concerning such Agents agree furnished in writing to the Company by or on behalf of the Agents specifically for inclusion in the Registration Statement, the Prospectus or any Permitted Free Writing Prospectus. (f) The Company and each Agent agrees that it would not be just or and equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)) above. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, in no event shall any Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with respect to the offering of the Shares pursuant to this Agreement and any Terms Agreements exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. . (g) The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Distribution Agreement (Iron Mountain Inc), Distribution Agreement (Iron Mountain Inc)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officersofficers and employees, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising based upon, any such untrue statement or omission or alleged untrue statement or omission made based upon and in conformity with any information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the information described as such in paragraph (c) below. (b) The Selling Shareholder agrees to indemnify and hold harmless each Underwriter, its directors, officers and employees, each person, if any, who controls any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, the Prospectus or any amendment or supplement thereto, or any Testing-the-Waters Communication or arise out of, or are based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent (and only to the extent) that such untrue statement or omission or alleged untrue statement or omission was made in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus, road show or the Prospectus or any amendment or supplement thereto based upon and in conformity with information furnished to the Company in writing by the Selling Shareholder expressly for use therein; and except insofar as such losses, claims, damages or liabilities arise out of or are based upon any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance based upon and in conformity with information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through you expressly for use therein. The liability of the Selling Shareholder under the indemnity agreement contained in this paragraph shall be limited to an amount equal to the aggregate Public Offering Price of the Shares sold by the Selling Shareholder under this Agreement (before deducting expenses) less any underwriting discounts and commissions paid to the Underwriters. (bc) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Company, the Selling Shareholder, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or the Selling Shareholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such Agentaction or claim) that arise out of, but only with respect to or are based upon, any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show or the Prospectus or any amendment or supplement thereto thereto, or any Permitted Free Writing Testing the Waters Communication, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or the Prospectus or any amendment or supplement thereto, it being understood that such information is limited to the following: the selling concession amount appearing in reliance upon the third paragraph under the caption “Underwriting,” and the information concerning stabilization in conformity with the Agent Informationtwelfth paragraph under the caption “Underwriting. (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a11(a), 11(b) or 9(b11(c), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonable fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed in writing to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the reasonable fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the reasonable fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section and (iii) the reasonable fees and expenses of more than one separate firm (in addition to any local counsel) for the Selling Shareholder and all persons, if any, who control the Selling Shareholder within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons and affiliates of any Underwriters, then such firm shall be designated in writing by the Agents, in Representatives. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in Company. In the case of parties indemnified pursuant to Section 9(b)any such separate firm for the Selling Shareholder and such control persons of the Selling Shareholder, such firm shall be designated in writing by the Selling Shareholder. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 60 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyproceeding. (de) To the extent the indemnification provided for in Section 9(a11(a), 11(b) or 9(b11(c) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i11(e)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i11(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company and the Selling Shareholder on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Selling Shareholder and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company and the Selling Shareholder on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or the Selling Shareholder or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 11 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth liability of the Selling Shareholder under the contribution agreement contained in Section 9(c) hereof with respect this paragraph shall be limited to notice an amount equal to the aggregate Public Offering Price of commencement of any action shall apply if a claim for contribution is to be made the Shares sold by the Selling Shareholder under this Section 9(d); provided, however, that no additional notice shall be required with respect Agreement less any underwriting discounts and commissions paid to any action for which notice has been given under section 9(d) hereof for purposes of indemnificationthe Underwriters. (ef) The Transaction Entities Company and the Agents Selling Shareholder and the Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 11 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d11(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d11(e) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 911, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 11 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fg) The indemnity and contribution provisions contained in this Section 9 11 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company and the Selling Shareholder contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, its directors, officers and employees, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter, by or on behalf of the Selling Shareholder or any person controlling the Selling Shareholder, or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Novelis Inc.), Underwriting Agreement (Novelis Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any “issuer free writing prospectus” as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationany Underwriter Information (as defined below). (b) Each Agent agrees, severally and not jointly, The Selling Stockholder agrees to indemnify and hold harmless each Transaction EntityUnderwriter, each affiliate of any Underwriter within the Company’s directors, officers who signed meaning of Rule 405 under the Registration Statement Securities Act and each person, if any, who controls either of the Transaction Entities such Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from set forth in paragraph (a) above; provided that the Transaction Entities Selling Stockholder shall be liable only to the extent that such Agentuntrue statement or alleged untrue statement of material fact or omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading has been made in the Registration Statement, any Preliminary Prospectus, the Time of Sale Prospectus or the Prospectus, or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any roadshow or any Testing-the-Waters Communication, but only with reference to the Selling Stockholder Information furnished to the Company in writing by or on behalf of the Selling Stockholder expressly for use therein. The liability under this subsection (b) of the Selling Stockholder shall be limited to an amount equal to the aggregate gross proceeds after underwriting commissions and discounts, but before expenses, to the Selling Stockholder from the sale of Shares sold by the Selling Stockholder hereunder (with respect to the Selling Stockholder, such amount being referred to herein as the Selling Stockholder’s “Net Proceeds”). (c) Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company, the Selling Stockholder, the directors of the Company, the officers of the Company who sign the Registration Statement and each person, if any, who controls the Company or the Selling Stockholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of, or are based upon, any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show or the Prospectus or any amendment or supplement thereto thereto, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to such Underwriter furnished to the Company in writing by or on behalf of such Underwriter through the Representatives expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto; it being understood and agreed upon that the only information furnished by any such Underwriter through the Representatives consists of the following information in the Time of Sale Prospectus and the Prospectus furnished on behalf of each Underwriter: the information in the first sentence and the second sentence of the first paragraph under the heading “Underwriting–Commissions and Discounts”, the information in reliance upon the first sentence, the second sentence, the fifth sentence, the sixth sentence, the eighth sentence and the ninth sentence in conformity with the Agent first paragraph under the heading “Underwriting–Price Stabilization, Short Positions and Penalty Bids”, the information in the first sentence in the second paragraph under the heading “Underwriting–Price Stabilization, Short Positions and Penalty Bids” the information in the third sentence in the third paragraph under the heading “Underwriting–Price Stabilization, Short Positions and Penalty Bids” and the information appearing under the heading “Underwriting–Electronic Distribution” (such information, the “Underwriter Information”). (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a11(a), 11(b) or 9(b11(c), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonable and documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section and (iii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Selling Stockholder and all persons, if any, who control the Selling Stockholder within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons and affiliates of any Underwriters, then such firm shall be designated in writing by the Agents, in Representatives. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in Company. In the case of parties indemnified pursuant to Section 9(b)any such separate firm for the Selling Stockholder and such control persons of the Selling Stockholder, such firm shall be designated in writing by the Selling Stockholder. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraphSection 11, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyparties. (de) To the extent the indemnification provided for in Section 9(a11(a), 11(b) or 9(b11(c) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if ii)if the allocation provided by clause (i11(e)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i11(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Sellers on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities each Seller and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Sellers on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Sellers on the one hand or by the Agents Underwriters on the other hand and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 11 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth liability of the Selling Stockholder under the contribution agreement contained in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice paragraph shall be required with respect limited to any action for which notice has been given under section 9(d) hereof for purposes of indemnificationan amount equal to the Selling Stockholder’s Net Proceeds. (ef) The Transaction Entities Sellers and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 11 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d11(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d11(e) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 911, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement of material fact or omission or alleged omissionomission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 11 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fg) The indemnity and contribution provisions contained in this Section 9 11 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company and the Selling Stockholder contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter, by or on behalf of the Selling Stockholder or any person controlling the Selling Stockholder, or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Ingram Micro Holding Corp), Underwriting Agreement (Ingram Micro Holding Corp)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any “issuer free writing prospectus” as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication, or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by or on behalf of the Underwriters through the Representatives consists of the Underwriter Information (as defined in paragraph (b) below). (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such Agentaction or claim) that arise out of, but only with respect to or are based upon, any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any “issuer free writing prospectus” as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, the Prospectus or any amendment or supplement thereto, or any Testing-the-Waters Communication, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to such Underwriter furnished to the Company in writing by such Underwriter through or on behalf of the Representatives expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or the Prospectus or any amendment or supplement thereto (the “Underwriter Information”); it being understood and agreed that the only such information shall be furnished by or on behalf of any Permitted Free Writing Prospectus, such Underwriter consists of the following information in reliance upon the Prospectus furnished on behalf of each Underwriter: the selling concession amount appearing in the first sentence of the third paragraph under the caption “Underwriting,” the information concerning sales to discretionary accounts appearing in the sole sentence of the seventh paragraph under the caption “Underwriting,” and the information concerning stabilization by the Underwriters in conformity with first sentence of the Agent Informationsixteenth paragraph under the caption “Underwriting. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to retain counsel chosen by the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel and reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed in writing to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsM▇▇▇▇▇ S▇▇▇▇▇▇, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (iI) such settlement is entered into more than 30 60 days after receipt by such indemnifying party of the aforesaid request; request and (iiII) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (after deducting underwriting commissions and discounts but before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter, or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Netskope Inc), Underwriting Agreement (Netskope Inc)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directorspartners, officers, members directors and employees officers and each person, if any, who controls any Agent such Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any reasonable out of pocket legal or fees and other expenses reasonably incurred in connection with defending or investigating any such suit, action or claimproceeding or any claim asserted, as such fees and expenses are incurred) arising that arise out of of, or are based upon upon, (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading or (ii) any untrue statement or alleged untrue statement of a material fact contained in the Pricing Prospectus (or any amendment or supplement thereto), the Prospectus (or any amendment or supplement thereto), the Pricing Disclosure Package, any Permitted Free Writing Prospectus (or any amendment or supplement thereto) or caused by any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to the Agent InformationUnderwriters furnished to the Company in writing by or on behalf of the Underwriters expressly for use in the Registration Statement, the Pricing Prospectus (or any amendment or supplement thereto), the Prospectus (or any amendment or supplement thereto), the Pricing Disclosure Package, any Permitted Free Writing Prospectus (or any amendment or supplement thereto), it being understood that such information consists solely of the information specified in Section 6(b)). (b) Each Agent agreesUnderwriter, severally and not jointly, agrees to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agentset forth in Section 6(a), but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statements statement or omissions, omission or alleged untrue statements statement or omissions, omission made in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to such Underwriter furnished to the Agent InformationCompany in writing by or on behalf of such Underwriter expressly for use in the Registration Statement, the Pricing Prospectus (or any amendment or supplement thereto), the Prospectus (or any amendment or supplement thereto), the Pricing Disclosure Package or any Permitted Free Writing Prospectus (or any amendment or supplement thereto); it being understood that such information shall consist solely of the following: the names and corresponding amounts of securities set forth in the table following the first paragraph under the heading “Underwriting” in the Preliminary Prospectus and the third paragraph, the sixth paragraph, the second sentence of the eighth paragraph and the tenth and eleventh paragraphs under the heading “Underwriting” in the Preliminary Prospectus. (c) In case If any suit, action, proceeding (including any governmental or regulatory investigation) ), claim or demand shall be instituted involving brought or asserted against any person in respect of which indemnity indemnification may be sought pursuant to the preceding paragraphs of this Section 9(a) or 9(b)6, such person (the “indemnified partyIndemnified Person”) shall promptly notify the person against whom such indemnity indemnification may be sought (the “indemnifying partyIndemnifying Person”) in writing and writing; provided that the indemnifying party failure to notify the Indemnifying Person shall be entitled to participate therein and, not relieve it from any liability that it may have under paragraph (a) or (b) above except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall elect, jointly with not relieve it from any other indemnifying party similarly notified, liability that it may have to assume an Indemnified Person otherwise than under paragraph (a) or (b) above. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the defense Indemnifying Person thereof, with the Indemnifying Person shall retain counsel reasonably satisfactory to the indemnified party Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to represent the indemnified party Indemnified Person and any others entitled to indemnification pursuant to this Section 6 that the indemnifying party Indemnifying Person may designate in such proceeding and shall pay the fees and disbursements expenses of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof, as incurred. In any such proceeding, any indemnified party Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party Indemnified Person unless (i) the indemnifying party Indemnifying Person and the indemnified party Indemnified Person shall have mutually agreed to the retention of such counsel, contrary; (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or Indemnified Person; (iviii) the indemnified party Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying partyIndemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood and agreed that the indemnifying party Indemnifying Person shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties Indemnified Persons, and that all such reasonable fees and expenses shall be paid or reimbursed as they are incurred. If Any such separate firm for the indemnifying party does not elect to assume Underwriters, their affiliates, partners, directors and officers and any control persons of the defense, then such firm Underwriters shall be designated in writing by the AgentsRepresentatives and any such separate firm for the Company, its directors, its officers who signed the Registration Statement and any control persons of the Company shall be designated in the case of parties indemnified pursuant to Section 9(a), and writing by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but but, if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party Indemnifying Person agrees to indemnify the indemnified party each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party Indemnifying Person shall, without the prior written consent of the indemnified partyIndemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party Indemnified Person is or could have been a party and indemnity indemnification could have been sought hereunder by such indemnified partyIndemnified Person, unless such settlement (x) includes an unconditional release of such indemnified partyIndemnified Person, in form and substance reasonably satisfactory to such indemnified partyIndemnified Person, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyIndemnified Person. (d) To the extent If the indemnification provided for in Section 9(aSections 6(a) or 9(b6(b) above is unavailable to an indemnified party Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party Indemnifying Person under such paragraphSections, in lieu of indemnifying such indemnified party Indemnified Person thereunder, shall contribute to the amount paid or payable by such indemnified party Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany, on the one hand, and the Agents, Underwriters on the other handother, from the offering of the Shares Securities or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesCompany, on the one hand, and of the Agents, Underwriters on the other handother, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesCompany, on the one hand, and the Agents, Underwriters on the other handother, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and Company from the sale of the Securities to the total underwriting discounts and commissions received by the Agents Underwriters in connection with the offering of the Shares, therewith bear to the aggregate Gross Sales Price offering price of the SharesSecurities. The relative fault of the Transaction EntitiesCompany, on the one hand, and the Agents, Underwriters on the other handother, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or and equitable if contribution pursuant to this Section 9 6 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)6(b) above. The amount paid or payable by an indemnified party Indemnified Person as a result of the losses, claims, damages and liabilities referred to in Section 9(d6(d) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party Indemnified Person in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 96, in no Agent event shall the Underwriters be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such Agent in connection the Underwriters with respect to the offering of the Shares Securities exceeds the amount of any damages that such Agent has the Underwriters have otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Underwriters’ obligations to contribute pursuant to this Section 6 are several in proportion to their respective obligations hereunder and not joint. (f) The remedies provided for in this Section 9 6 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party Indemnified Person at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (E Trade Financial Corp), Underwriting Agreement (E Trade Financial Corp)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliateseach affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act who is involved in the Public Offering, directorseach director, officersofficer, members employee and employees affiliate of any of the foregoing, and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities liabilities, joint or several, or any action in respect thereof (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, the ADS Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show as defined in Rule 433(h) under the Securities Act (a “road show”), or the Prospectus or any amendment or supplement thereto thereto, or any Permitted Free Writing ProspectusWritten Testing-the-Waters Communication, or arising out of or based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein in the light of the circumstances in which they were made, not misleading, and shall reimburse each Underwriter and each such director, officer, employee, affiliate or controlling person promptly upon demand for any legal or other expenses reasonably incurred by that Underwriter, director, officer, employee, affiliate or controlling person in connection with investigating or defending or preparing to defend against any such loss, claim, damage, liability or action as such expenses are incurred; except insofar as such losses, claims, damages or liabilities are arising out of or based upon any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent InformationUnderwriter Information (as defined in Section 9(b) hereof). (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Company, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus or any amendment thereof, the Prospectus or any amendment or supplement thereto or thereto, it being understood and agreed that the only such information furnished by any Permitted Free Writing Prospectus, Underwriter consists of the names and the addresses of the Representatives appearing in reliance upon and in conformity with the Agent [eleventh] paragraph under the caption “Underwriting” (the “Underwriter Information”). (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or 9(b)) hereof, such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and writing, provided, however, that the failure to notify the indemnifying party shall be entitled to participate therein and, not relieve it from any liability which it may have under this Section 9 except to the extent it has been materially prejudiced (through the forfeiture of substantive rights and defenses) by such failure and, provided, further, that it shall elect, jointly with any other the failure to notify the indemnifying party similarly notifiedshall not relieve it from any liability which it may have to an indemnified party otherwise than under this Section 9. The indemnifying party, to assume upon request of the defense thereofindemnified party, with shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the (i) fees and expenses of more than one separate firm (in addition to any local counsel) for all Underwriters and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act who are involved in the Public Offering, (ii) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons and such affiliates of any Underwriters, then such firm shall be designated in writing by the Agents, in Representatives. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding proceeding, and (y) does not include any statement as to to, or any admission of of, fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a) or 9(b) hereof, is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i9(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i9(d)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)) hereof. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) hereof shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, in no Agent event shall an Underwriter be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such Agent in connection Underwriter with respect to the offering of the Shares exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and Section 6(n) hereof and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of (A) any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter who is involved in the Public Offering, or by or on behalf of any Transaction Entity or any of their respective (B) the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Nano Labs LTD), Underwriting Agreement (Nano Labs LTD)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, a. The Company agrees to indemnify and hold harmless each Agentthe Agents, its their respective affiliates, their respective partners, members, directors, officers, members employees and employees agents, and each person, if any, who (i) controls any such Agent within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act or (eachii) is controlled by or is under common control with such Agent, an “Agent Indemnified Party”) in each case, from and against any and all losses, claims, damages damages, expenses and liabilities (includingincluding any and all reasonable and documented investigative, without limitation, any legal or and other expenses reasonably incurred in connection with, and any and all amounts paid in settlement (in accordance with defending this Section 9), any action, suit, investigation or investigating proceeding between any of the indemnified parties and any indemnifying parties or between any indemnified party and any third party (including any governmental or self-regulatory authority, or otherwise, or any claim asserted or threatened), as and when incurred, to which such Agent, or any such action other person may become subject under the Act, the Exchange Act or claimother federal or state statutory law or regulation, at common law or otherwise) arising that arise out of of, or are based upon upon, (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereof, any preliminary prospectus, the Prospectus thereto) or any amendment or supplement thereto or any Permitted Free Writing Prospectus, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein, not misleading or (ii) any untrue statement or alleged untrue statement of a material fact contained in the Prospectus (or any amendment or supplement thereto), or any Permitted Free Writing Prospectus (or any amendment or supplement thereto), or caused by any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to the Agent Information. Agents furnished to the Company in writing by the Agents expressly for use therein, it being understood and agreed that the only such information furnished by the Agents consists of the information described as such in subsection (b) Each Agent agrees, severally and not jointly, below. b. The Agents agree to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed the Registration Statement and each person, if any, who (i) controls either of the Transaction Entities Company within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act or (ii) is controlled by or is under common control with the Company to the same extent as the foregoing indemnity from the Transaction Entities to such Agentset forth in paragraph (a) above, but only with respect to any losses, claims, damages, expenses or liabilities that arise out of, or are based upon, any untrue statements statement or omissions, omission or alleged untrue statements statement or omissions, omission made in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to the Agent InformationAgents furnished to the Company in writing by the Agents expressly for use in the Registration Statement (or any amendment thereto), the Prospectus (or any amendment or supplement thereto) or any Permitted Free Writing Prospectus (or any amendment or supplement thereto), it being understood and agreed upon that only such information furnished by the Agents as of the date of this Agreement consists of the information in the Prospectus as specified in Exhibit D hereto. (c) In case c. If any suit, action, proceeding (including any governmental or regulatory investigation) ), claim or demand shall be instituted involving brought or asserted against any person in respect of which indemnity indemnification may be sought pursuant to either Section 9(a) or 9(b)) above, such person (the “indemnified partyIndemnified Person”) shall promptly notify the person against whom such indemnity indemnification may be sought (the “indemnifying partyIndemnifying Person”) in writing and writing; provided that the indemnifying party failure to notify the Indemnifying Person shall be entitled to participate therein and, not relieve it from any liability that it may have under this Section 9 except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall elect, jointly with not relieve it from any other indemnifying party similarly notified, liability that it may have to assume an Indemnified Person otherwise than under this Section 9. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the defense Indemnifying Person thereof, with the Indemnifying Person shall retain counsel reasonably satisfactory to the indemnified party Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to represent the indemnified party Indemnified Person and any others entitled to indemnification pursuant to this Section 9 that the indemnifying party Indemnifying Person may designate in such proceeding and shall pay the fees and disbursements expenses of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof, as incurred. In any such proceeding, any indemnified party Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party Indemnified Person unless (i) the indemnifying party Indemnifying Person and the indemnified party Indemnified Person shall have mutually agreed in writing to the retention of such counsel, contrary; (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or Indemnified Person; (iviii) the indemnified party Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying partyIndemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) included both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood and agreed that the indemnifying party Indemnifying Person shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings proceeding in the same jurisdiction, be liable for the reasonable fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties (A) the Agents and their affiliates and their directors and officers and their control persons, if any, or (B) the Company and its directors, its officers who signed the Registration Statement and its control persons, if any, as the case may be, and that all such reasonable fees and expenses shall be paid or reimbursed as they are incurred. If Any such separate firm for the indemnifying party does not elect to assume the defenseAgents and their affiliates, then such firm directors and officers and their control persons, if any, shall be designated in writing by the Agents, and any such separate firm for the Company, its directors, its officers who signed the Registration Statement and its control persons, if any, shall be designated in the case of parties indemnified pursuant to Section 9(a), and writing by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party Indemnifying Person agrees to indemnify the indemnified party each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party Indemnifying Person shall, without the prior written consent of the indemnified partyIndemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party Indemnified Person is or could have been a party and indemnity indemnification is or could have been sought hereunder by such indemnified partyIndemnified Person, unless such settlement (x) includes an unconditional release of such indemnified partyIndemnified Person, in form and substance reasonably satisfactory to such indemnified partyIndemnified Person, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyIndemnified Person. Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall have requested an Indemnifying Person to reimburse the Indemnified Person for fees and expenses of counsel as contemplated by this Section 9(c), the Indemnifying Person agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 45 days after receipt by such Indemnifying Person of the aforesaid request, (ii) such Indemnifying Person shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into and (iii) such Indemnifying Person shall not have reimbursed the Indemnified Person in accordance with such request prior to the date of such settlement, unless such failure to reimburse the Indemnified Person is based on a dispute with a good faith basis as to the obligation of the Indemnifying Person arising under this Section 9 to indemnify the Indemnified Person, and the Indemnifying Person shall have notified the Indemnified Person of such good faith dispute prior to the date of such settlement. (d) To the extent d. If the indemnification provided for in Section Sections 9(a) or and 9(b) above is unavailable to an indemnified party Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party Indemnifying Person under such paragraphSections, in lieu of indemnifying such indemnified party Indemnified Person thereunder, shall contribute to the amount paid or payable by such indemnified party Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany, on the one hand, and the Agents, on the other handother, from the any offering of the Shares pursuant to this Agreement and any Terms Agreements; or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesCompany, on the one hand, and of the Agents, on the other handother, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesCompany, on the one hand, and the Agents, on the other handother, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company from any sale of Shares pursuant to this Agreement and any Terms Agreements and the total discounts and commissions received by the Agents in connection with the offering of the Shares, therewith bear to the aggregate Gross Sales Price of the such Shares. The relative fault of the Transaction EntitiesCompany, on the one hand, and the Agents, on the other handother, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company, on the one hand, or by the Agents Agents, on the other hand, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) e. The Transaction Entities Company and the Agents agree that it would not be just or and equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)) above. The amount paid or payable by an indemnified party Indemnified Person as a result of the losses, claims, damages and liabilities referred to in Section 9(d) above shall be deemed to include, subject to the limitations set forth above, any reasonable legal or other expenses reasonably incurred by such indemnified party Indemnified Person in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, in no event shall an Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the respect to any offering of the Shares pursuant to this Agreement and any Terms Agreements exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. . f. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which that may otherwise be available to any indemnified party Indemnified Person at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Distribution Agreement (Brainstorm Cell Therapeutics Inc.), Distribution Agreement (Brainstorm Cell Therapeutics Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, the directors, officers, members employees and employees selling agents of each Underwriter, and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of each Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising arise out of or are based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of or are arising out or based upon any such untrue statement or omission or alleged untrue statement or omission based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through you expressly for use therein. (b) The Selling Stockholder agrees to indemnify and hold harmless each Underwriter, the directors, officers, employees and selling agents of each Underwriter, and each person, if any, who controls any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of each Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or the Prospectus or any amendment or supplement thereto, or arise out of or are based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent (and only to the extent) that such untrue statement or omission or alleged untrue statement or omission was made in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus, or the Prospectus or any Permitted Free Writing Prospectus, amendment or supplement thereto in reliance upon and in conformity with information furnished to the Agent InformationCompany for use therein; and except insofar as such losses, claims, damages or liabilities arise out of or are based upon any such untrue statement or omission or alleged untrue statement or omission based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through you expressly for use therein. The liability of the Selling Stockholder under the indemnity agreement contained in this paragraph shall be limited to an amount equal to the net proceeds received by the Selling Stockholder from the sale of its Shares under this Agreement. (bc) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Company, the Selling Stockholder, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or the Selling Stockholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such Agent, but only with respect to action or claim) that arise out of or are based upon any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or the Prospectus or any amendment or supplement thereto thereto, or arise out of or are based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to such Underwriter furnished to the Company in writing by such Underwriter through you expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, or the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationamendment or supplement thereto. (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a11(a), 11(b) or 9(b11(c), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters, directors, officers, employees and selling agents of each Underwriter, and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section and (iii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Selling Stockholder and all persons, if any, who control the Selling Stockholder within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of (i) any such separate firm for the defenseUnderwriters, then the directors, officers, employees and selling agents of each Underwriter, and such control persons and affiliates of any Underwriters, such firm shall in each case be designated in writing by the Managers. In the case of any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Agents, in Company. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Selling Stockholder and such control persons of the Selling Stockholder, and such firm shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)Selling Stockholder. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 45 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (xi) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (yii) does not include any a statement as to or any an admission of fault, culpability or a failure to act act, by or on behalf of any indemnified party. (de) To the extent the indemnification provided for in Section 9(a11(a), 11(b) or 9(b11(c) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i11(e)(i) above is not permitted by applicable law, law in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i11(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company and the Selling Stockholder on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the Selling Stockholder and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company and the Selling Stockholder on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or the Selling Stockholder or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 11 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth liability of the Selling Stockholder under the contribution agreement contained in Section 9(c) hereof with respect this paragraph shall be limited to notice an amount equal to the aggregate Public Offering Price of commencement of any action shall apply if a claim for contribution is to be made the Shares sold by the Selling Stockholder under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnificationAgreement. (ef) The Transaction Entities Company, the Selling Stockholder and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 11 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d11(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d11(e) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 911, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 11 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fg) The indemnity and contribution provisions contained in this Section 9 11 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company and the Selling Stockholder contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter or any director, officer, employee or agent of any Underwriter, any person controlling any Agent Underwriter or any affiliate of any Agent or by or on behalf of any Transaction Entity Underwriter, the Selling Stockholder or any of their respective person controlling the Selling Stockholder, or the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (ING U.S., Inc.), Underwriting Agreement (ING U.S., Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, agrees to The Company shall indemnify and hold harmless each AgentUnderwriter, its affiliatespartners, members, directors, officers, members and employees affiliates and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) from and against any and all losses, liabilities, claims, damages and liabilities expenses whatsoever as incurred (including, without limitation, including but not limited to attorneys’ fees and any legal or other and all expenses reasonably whatsoever incurred in connection with investigating, preparing or defending against any litigation, commenced or investigating threatened, or any claim whatsoever, and any and all amounts paid in settlement of any claim or litigation), joint or several, to which they or any of them may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such action losses, liabilities, claims, damages or claimexpenses (or actions in respect thereof) arising arise out of or are based upon (i) any untrue statement or alleged untrue statement of a material fact contained in (a) the Registration Statement or any amendment thereofStatement, including the Rule 430B information, (b) any preliminary prospectus, any Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto thereto), or (c) any “issuer information” (as defined in Rule 433) or any Permitted “road show” relating to the Shares (as defined in Rule 433) not constituting an Issuer Free Writing ProspectusProspectus (a “Non-Prospectus Road Show”), or arising out of or based upon any (ii) the omission or alleged omission to state therein a therefrom of any material fact required to be stated therein or necessary to make the statements therein not misleading; provided, except insofar as however, that the Company will not be liable in any such lossescase to the extent but only to the extent that any such loss, claimsliability, damages claim, damage or liabilities are arising expense arises out of or is based upon any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectusalleged omission, in reliance upon and in conformity with written information furnished in writing to the Agent InformationCompany by or on behalf of any Underwriter through the Representatives specifically for use in the preparation thereof. This indemnity agreement will be in addition to any liability which the Company may otherwise have, including but not limited to other liability under this Agreement. (b) Each Agent agreesUnderwriter, severally and not jointly, to shall indemnify and hold harmless each Transaction Entity, the Company’s directors, each of the directors of the Company, each of the officers of the Company who shall have signed the Registration Statement Statement, and each other person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, against any losses, liabilities, claims, damages and expenses whatsoever as incurred (including but not limited to attorneys’ fees and any and all expenses whatsoever incurred in investigating, preparing or defending against any litigation, commenced or threatened, or any claim whatsoever, and any and all amounts paid in settlement of any claim or litigation), joint or several, to which they or any of them may become subject under the Securities Act, the Exchange Act to the same extent or otherwise, insofar as the foregoing indemnity from the Transaction Entities to such Agentlosses, but only with liabilities, claims, damages or expenses (or actions in respect to thereof) arise out of or are based upon (i) any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in (a) the Registration Statement Statement, including the Rule 430B information, or (b) any amendment thereofpreliminary prospectus, any Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto thereto), (ii) the omission or alleged omission therefrom of any Permitted Free Writing Prospectusmaterial fact required to be stated therein or necessary to make the statements therein not misleading; provided, however, that the Underwriters will be responsible in each case to the extent, but only to the extent, that any such loss, liability, claim, damage or expense arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with the Agent Informationstatements set forth in the fifth and twelfth paragraphs and in the first sentence of the thirteenth paragraph under the caption “Underwriting” in the General Disclosure Package and Prospectus, to the extent such statements relate to the amount of selling concession and reallowance and price stabilization activities of the Underwriters; provided, however, that in no case shall any Underwriter be liable or responsible for any amount in excess of the underwriting discount applicable to the Shares to be purchased by such Underwriter hereunder. This indemnity will be in addition to any liability which any Underwriter may otherwise have, including but not limited to other liability under this Agreement. (c) Promptly after receipt by an indemnified party under subsection (a) or (b) above of notice of any claims or the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection, notify each party against whom indemnification is to be sought in writing of the claim or the commencement thereof (but the failure so to notify an indemnifying party shall not relieve the indemnifying party from any liability which it may have under this Section 9). In case any proceeding (including such claim or action is brought against any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or 9(b), such person (the “indemnified party”) shall promptly notify , and it notifies an indemnifying party of the person against whom such indemnity may be sought (the “indemnifying party”) in writing and commencement thereof, the indemnifying party shall will be entitled to participate therein andparticipate, at its own expense in the defense of such action, and to the extent that it shall elect, jointly with any other indemnifying may elect by written notice delivered to the indemnified party similarly notifiedpromptly after receiving the aforesaid notice from such indemnified party, to assume the defense thereof, thereof with counsel reasonably satisfactory to such indemnified party; provided however, that counsel to the indemnifying party shall not (except with the written consent of the indemnified party) also be counsel to the indemnified party to represent party. Notwithstanding the foregoing, the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party parties shall have the right to retain employ its or their own counselcounsel in any such case, but the fees and expenses of such counsel shall be at the expense of such indemnified party or parties unless (i) the indemnifying party and the indemnified party employment of such counsel shall have mutually agreed to been authorized in writing by one of the retention indemnifying parties in connection with the defense of such counselaction, (ii) the named indemnifying parties shall not have employed counsel to any have charge of the defense of such proceeding (including any impleaded parties) include both action within a reasonable time after notice of commencement of the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between themaction, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to does not diligently defend the indemnified party action after assumption of the defense, or (iv) the such indemnified party or parties shall have reasonably concluded that there may be legal defenses available to it that or them which are different from or in addition additional to those available to one or all of the indemnifying party. It is understood that parties (in which case the indemnifying parties shall not have the right to direct the defense of such action on behalf of the indemnified party shall notor parties), in respect any of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one local counsel) for all which events such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurredborne by the indemnifying parties. If the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraphpreceding sentence, then the indemnifying party agrees that it shall be liable for any settlement of any proceeding claim effected without its written consent if (i) such settlement is entered into more than 30 days 60 Business Days after receipt by such indemnifying party of the aforesaid request; , (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; settlement and (iii) such indemnifying indemnified party shall have received notice of given the terms of such settlement indemnifying party at least 30 days days’ prior notice of its intention to such settlement being entered intosettle. No indemnifying party shall, without the prior written consent of the indemnified partyparties, effect any settlement or compromise of, or consent to the entry of judgment with respect to, any pending or threatened claim, investigation, action or proceeding in respect of which any indemnified party is indemnity or contribution may be or could have been a sought by an indemnified party and indemnity could have been sought hereunder by such under this Section 9 or Section 10 hereof (whether or not the indemnified partyparty is an actual or potential party thereto), unless such settlement (x) such settlement, compromise or judgment (i) includes an unconditional release of such the indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter arising out of such claim, investigation, action or proceeding and (yii) does not include any a statement as to or any an admission of fault, culpability or a any failure to act act, by or on behalf of any the indemnified party. , and (dy) To the extent the indemnification provided for in Section 9(a) or 9(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, confirms in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction Entities, on the one hand, and of the Agents, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and the total discounts and commissions received by the Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price of the Shares. The relative fault of the Transaction Entities, on the one hand, and the Agents, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities or by the Agents and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective writing its indemnification obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof hereunder with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); providedsuch settlement, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnificationcompromise or judgment. (e) The Transaction Entities and the Agents agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Thornburg Mortgage Inc), Underwriting Agreement (Thornburg Mortgage Inc)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each Agentthe Underwriters, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent the Underwriters within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of the Underwriters within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereofthereto, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any amendment or supplement thereto thereto, or any Permitted Free Writing ProspectusTesting-the-Waters Communication, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to the Agent InformationUnderwriters furnished to the Company in writing by the Underwriters expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters consists of the information described as such in paragraph (b) below. (b) Each Agent agrees, severally and not jointly, The Underwriters agree to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such Agentthe Underwriters, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to the Underwriters furnished to the Company in writing by the Underwriters expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any road show or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing thereto. The Company acknowledges and agrees that the statements set forth in the first sentence of the eleventh paragraph and the third and fourth sentences of the twelfth paragragh under the caption “Underwriting” in the Prospectus, constitute the only information furnished to the Company in reliance upon writing by the Underwriters, as such information is referred to in Sections 1 and in conformity with the Agent Information9 hereof. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or 9(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, or (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition additional to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsUnderwriters, in the case of parties indemnified pursuant to Section 9(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) such settlement includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding proceeding, and (y) does not include any statement as to or any admission of faultculpability, culpability wrongdoing or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a) or 9(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares Securities or (ii) if the allocation provided by clause (i9(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i9(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares Securities shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares Securities (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents in connection with the offering of the SharesUnderwriters, bear to the aggregate Gross Sales Public Offering Price of the SharesSecurities. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions number of Units they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent the Underwriters shall not be required to contribute any amount in excess of the amount by which the total discounts price at which the Securities underwritten by it and commissions received by such Agent in connection with distributed to the offering of public were offered to the Shares public exceeds the amount of any damages that such Agent the Underwriters has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agentthe Underwriters, any person controlling any Agent the Underwriters or any affiliate of any Agent or the Underwriters, or, by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the SharesSecurities. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Carney Technology Acquisition Corp. II), Underwriting Agreement (Carney Technology Acquisition Corp. II)

Indemnity and Contribution. (a) Each of the Transaction EntitiesFund and the Adviser, jointly and severally, agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) each agent of any Underwriter, and each director, officer or affiliate of any Underwriter, within the meaning of Rule 405 under the Securities Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim), (i) arising out of or based upon caused by any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any Omitting Prospectus, any preliminary prospectusprospectus (including any statement of additional information incorporated therein by reference), the Time of Sale Prospectus, or the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectusthereto, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading (in the case of any Omitting Prospectus, preliminary prospectus, the Time of Sale Prospectus or the Prospectus, in light of the circumstances in which they were made), except insofar as such losses, claims, damages or liabilities are arising out or based upon caused by any such untrue statement or omission or alleged untrue statement or omission made based upon information relating to any Underwriter furnished to the Fund or the Adviser in writing by such Underwriter through you expressly for use therein or (ii) resulting from, related to or arising in connection with the Registration Statement posting of any Omitting Prospectus, any preliminary prospectus (including any statement of additional information incorporated therein by reference), the Time of Sale Prospectus, or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto on the website of the Fund, in reliance upon and in conformity with the Agent InformationAdviser or any affiliate of the foregoing. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entityof the Fund and the Adviser, its Trustees or directors (respectively), and each officer of the Company’s directors, officers Fund who signed signs the Registration Statement and each person, if any, who controls either of the Transaction Entities Fund or any Adviser within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity in Section 8(a)(i) above from the Transaction Entities Fund and the Adviser to such AgentUnderwriter, but only with respect reference to untrue statements information relating to such Underwriter furnished to the Fund or omissions, or alleged untrue statements or omissions, made the Adviser in writing by such Underwriter through you expressly for use in the Registration Statement or Statement, any amendment thereofpreliminary prospectus (including any statement of additional information incorporated therein by reference), the Time of Sale Prospectus, any Omitting Prospectus or Prospectus or any amendment amendments or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationsupplements thereto. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(bSection 8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, all persons who are agents of any Underwriter or all persons who are directors, officers and affiliates of any Underwriters within the meaning of Rule 405 under the Securities Act, (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Fund, its Trustees, its officers who sign the Registration Statement and each person, if any, who controls the Fund within the meaning of either such indemnified parties Section, and (iii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Adviser, its directors, and each person, if any, who controls the Adviser within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons, then agents, directors, officers and affiliates of any Underwriters, such firm shall be designated in writing by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. LLC. In the case of any such separate firm for the Fund, and such Trustees, officers and control persons of the Fund, such firm shall be designated in writing by the Agents, in Fund. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Adviser, and such directors and control persons of the Adviser, such firm shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)Adviser. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any a statement as to or any an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(bSection 8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Fund and the Adviser on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (iSection 8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (iSection 8(d)(i) above but also the relative fault of the Transaction Entities, Fund and the Adviser on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Fund and the Adviser on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Fund and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Fund and the Adviser on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Fund or the Adviser or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect Adviser agrees to notice of commencement of pay any action shall apply if a claim for contribution is amounts that are payable by the Fund pursuant to this paragraph to the extent that the Fund fails to make all contributions required to be made under by the Fund pursuant to this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification8. (e) The Transaction Entities Fund, the Adviser and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, in no Agent event shall an Underwriter be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such Agent in connection Underwriter with respect to the offering of the Shares exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Fund and the Adviser contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter, or any agent of any Underwriter or any director, officer or affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Adviser, its officers or directors stockholders or any person controlling the Adviser or by or on behalf of the Fund, its officers or Trustees or any Transaction Entity person controlling the Fund and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Invesco High Income 2024 Target Term Fund), Underwriting Agreement (Invesco High Income 2023 Target Term Fund)

Indemnity and Contribution. (a) Each of the Transaction EntitiesFund and the Advisers, jointly and severally, agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) each agent of any Underwriter, and each director, officer or affiliate of any Underwriter, within the meaning of Rule 405 under the Securities Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising out of or based upon ), caused by any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any Omitting Prospectus, any preliminary prospectusprospectus (including any statement of additional information incorporated therein by reference), the Time of Sale Prospectus, or the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectusthereto, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading (in the case of any Omitting Prospectus, preliminary prospectus, the Time of Sale Prospectus or the Prospectus, in light of the circumstances in which they were made), except insofar as such losses, claims, damages or liabilities are arising out or based upon caused by any such untrue statement or omission or alleged untrue statement or omission made based upon information relating to any Underwriter furnished to the Fund or the Advisers in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationwriting by such Underwriter through you expressly for use therein. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entityof the Fund and the Advisers, its directors or Trustees (as the Company’s directorscase may be), officers and each officer of the Fund who signed signs the Registration Statement and each person, if any, who controls either of the Transaction Entities Fund or any Adviser within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Fund and the Advisers to such AgentUnderwriter, but only with respect reference to untrue statements information relating to such Underwriter furnished to the Fund or omissions, or alleged untrue statements or omissions, made the Advisers in writing by such Underwriter through you expressly for use in the Registration Statement or Statement, any amendment thereofpreliminary prospectus (including any statement of additional information incorporated therein by reference), the Time of Sale Prospectus, any Omitting Prospectus or Prospectus or any amendment amendments or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationsupplements thereto. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(bSection 8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonable fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, all persons who are agents of any Underwriter or all persons who are directors, officers and affiliates of any Underwriters within the meaning of Rule 405 under the Securities Act, (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Fund, its Trustees, its officers who sign the Registration Statement and each person, if any, who controls the Fund within the meaning of either such indemnified parties Section, and (iii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Advisers, their directors, and each person, if any, who controls any of the Advisers within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons, then agents, directors, officers and affiliates of any Underwriters, such firm shall be designated in writing by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. LLC, [ ], [ ], [ ] and [ ]. In the case of any such separate firm for the Fund, and such Trustees, officers and control persons of the Fund, such firm shall be designated in writing by the Agents, in Fund. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Advisers, and such directors and control persons of the Advisers, such firm shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)Investment Adviser. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any a statement as to or any an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(bSection 8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Fund and the Advisers on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Fund and the Advisers on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Fund and the Advisers on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Fund and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Fund and the Advisers on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Fund or any of the Advisers or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect Each of the Advisers agrees to notice of commencement of pay any action shall apply if a claim for contribution is amounts that are payable by the Fund pursuant to this paragraph to the extent that the Fund fails to make all contributions required to be made under by the Fund pursuant to this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification8. (e) The Transaction Entities Fund, the Advisers and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, in no Agent event shall an Underwriter be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such Agent in connection Underwriter with respect to the offering of the Shares exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Fund and each of the Advisers contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter, or any agent of any Underwriter or any director, officer or affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of the Advisers, their respective officers or directors or any person controlling the Advisers or by or on behalf of the Fund, its officers or Trustees or any Transaction Entity person controlling the Fund and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Nuveen Flexible Investment Income Fund), Underwriting Agreement (Nuveen Flexible Investment Income Fund)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachand each director, an “Agent Indemnified Party”) officer and affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show as defined in Rule 433(h) under the Securities Act (a “road show”), or the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or any Written Testing the Waters Communication arising out of or based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made based upon information furnished in writing to the Registration Statement Company by such Underwriter through you or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationby you expressly for use therein. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its affiliates, its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements information furnished in writing to the Company by such Underwriter through you or omissions, or alleged untrue statements or omissions, made by you expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, Written Testing the Waters Communication or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationthereto. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party party, or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives in the case of parties indemnified pursuant to Section 8(a), and by the Company, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 90 days after receipt by such indemnifying party of the aforesaid request; , (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into, and (iii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents in connection with the offering of the Shares, Underwriters bear to the aggregate Gross Sales Price public offering price of the SharesShares set forth in the Prospectus. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any director, officer or affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Akebia Therapeutics, Inc.), Underwriting Agreement (Akebia Therapeutics, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each Agentthe Underwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent the Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of the Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any reasonably incurred and documented legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (eacha “road show”), an “Agent Indemnified Party”the Prospectus or any amendment or supplement thereto, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any such untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to the Underwriter furnished to the Company in writing by the Underwriter expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriter consists of the information described as such in paragraph (c) below. (b) The Selling Shareholder agrees to indemnify and hold harmless the Underwriter, each person, if any, who controls the Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such lossesbut only with reference to the Selling Shareholder Information relating to the Selling Shareholder. The liability of the Selling Shareholder under the representations and warranties contained in this Agreement and under the indemnity and contribution agreements contained in this Section 11 shall be limited to an amount equal to the aggregate net proceeds after underwriting commissions and discounts, claimsbut before expenses, damages or liabilities are arising out or based upon any such untrue statement or omission or alleged untrue statement or omission made in received by the Registration Statement or any amendment thereof, Selling Shareholder from the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with sale of Shares sold by the Agent InformationSelling Shareholder under this Agreement. (bc) Each Agent agrees, severally and not jointly, The Underwriter agrees to indemnify and hold harmless each Transaction Entitythe Company, the Selling Shareholder, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or the Selling Shareholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such Agentaction or claim) that arise out of, but only with respect to or are based upon, any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, or the Prospectus or any amendment or supplement thereto thereto, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to the Underwriter furnished to the Company in writing by the Underwriter expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or the Prospectus or any Permitted Free Writing amendment or supplement thereto, it being understood and agreed upon that the only such information furnished by the Underwriter consists of the following information in the Prospectus: the information concerning stabilizing transactions, short sales and other information appearing in reliance upon and in conformity with the Agent Informationfifteenth paragraph under the caption “Underwriting. (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a11(a), 11(b) or 9(b11(c), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred and documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the reasonably incurred and documented fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, ; (ii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified; (iii) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party; and (iv) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for the Underwriter and all persons, if any, who control the Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of the Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section and (iii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Selling Shareholder and all persons, if any, who control the Selling Shareholder within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriter and such control persons and affiliates of the Underwriter, then such firm shall be designated in writing by the Agents, in Underwriter. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in Company. In the case of parties indemnified pursuant to Section 9(b)any such separate firm for the Selling Shareholder and such control persons of the Selling Shareholder, such firm shall be designated in writing by the Selling Shareholder. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such the indemnified party, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (de) To the extent the indemnification provided for in Section 9(a11(a), 11(b) or 9(b11(c) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i11(e)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i11(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company and the Selling Shareholder on the one hand, hand and the Agents, Underwriter on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and the total discounts and commissions received by the Agents in connection with the offering of the Shares, Selling Shareholder bear to the aggregate Gross Sales Price result of the Sharesprice at which the Underwriter sells the Shares less the price at which the Underwriter purchases the Shares from the Selling Shareholder. The relative fault of the Transaction Entities, Company and the Selling Shareholder together on the one hand, and the Agents, Underwriter on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by either the Transaction Entities Company or the Selling Shareholder or by the Agents Underwriter, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (ef) The Transaction Entities Company, the Selling Shareholder and the Agents Underwriter agree that it would not be just or equitable if contribution pursuant to this Section 9 11 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d11(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d11(e) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 911, no Agent the Underwriter shall not be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent the Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 11 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fg) The indemnity and contribution provisions contained in this Section 9 11 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company and the Selling Shareholder contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agentthe Underwriter, any person controlling any Agent the Underwriter or any affiliate of any Agent the Underwriter, or by or on behalf of any Transaction Entity the Selling Shareholder or any person controlling the Selling Shareholder, or by or on behalf of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Keurig Dr Pepper Inc.), Underwriting Agreement (Keurig Dr Pepper Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each Agent, its each Agent’s affiliates, directorsthe directors and officers of each Agent and each Agent’s affiliates, officers, members and employees and each person, if any, who controls any such Agent within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act (eachand the Selling Stockholder, an “Agent Indemnified Party”) the Selling Stockholder’s affiliates, the directors and officers of the Selling Stockholder and the Selling Stockholder’s affiliates, and each person, if any, who controls the Selling Stockholder within the meaning of Section 15 of the Act or Section 20 of the Exchange Act, in each case, from and against any and all losses, claims, damages and liabilities (including, without limitation, any reasonable out of pocket legal or fees and other expenses reasonably incurred in connection with defending or investigating any such suit, action or claimproceeding or any claim asserted, as such fees and expenses are incurred) arising that arise out of of, or are based upon upon, (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading or (ii) any untrue statement or alleged untrue statement of a material fact contained in the Prospectus (or any amendment or supplement thereto), any Permitted Free Writing Prospectus (or any amendment or supplement thereto) or caused by any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any Agent Information or any Selling Stockholder Information, it being understood and agreed that the Agent Informationonly such information furnished by the Agents and the Selling Stockholder consists of the information described as such in subsections (b) and (c) below, respectively. (b) Each Agent agrees, severally and not jointly, The Selling Stockholder agrees to indemnify and hold harmless each Transaction EntityAgent, each Agent’s affiliates, the directors and officers of each Agent and the Agent’s affiliates, and each person, if any, who controls such Agent within the meaning of Section 15 of the Act or Section 20 of the Exchange Act and the Company’s , its directors, its officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act, in each case to the same extent as the indemnity set forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to the Selling Stockholder furnished to the Company in writing by the Selling Stockholder expressly for use in the Registration Statement, the Basic Prospectus, the Prospectus (or any amendment or supplement thereto) or any Permitted Free Writing Prospectus, it being understood and agreed that the only such information furnished by the Selling Stockholder consists of the information set forth on Schedule II-A attached hereto. (c) Each Agent agrees to indemnify and hold harmless the Company, its directors, its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of Section 15 of the Act or Section 20 of the Exchange Act and the Selling Stockholder, in each case, to the same extent as the foregoing indemnity from the Transaction Entities to such Agentset forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statements statement or omissions, omission or alleged untrue statements statement or omissions, omission made in reliance upon and in conformity with any information relating to the Agents furnished to the Company in writing by the Agents expressly for use in the Registration Statement or any amendment thereofStatement, the Basic Prospectus, the Prospectus (or any amendment or supplement thereto thereto) or any Permitted Free Writing Prospectus, in reliance upon it being understood and in conformity with agreed that the Agent Informationonly such information furnished by the Agents consists of the information set forth on Schedule II-B attached hereto. (cd) In case If any suit, action, proceeding (including any governmental or regulatory investigation) ), claim or demand shall be instituted involving brought or asserted against any person in respect of which indemnity indemnification may be sought pursuant to Section 9(aeither paragraph (a), (b) or 9(b)(c) above, such person (the “indemnified partyIndemnified Person”) shall promptly notify the person against whom such indemnity indemnification may be sought (the “indemnifying partyIndemnifying Person”) in writing and writing; provided that the indemnifying party failure to notify the Indemnifying Person shall be entitled to participate therein and, not relieve it from any liability that it may have under this Section 11 except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall elect, jointly with not relieve it from any other indemnifying party similarly notified, liability that it may have to assume an Indemnified Person otherwise than under this Section 11. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the defense Indemnifying Person thereof, with the Indemnifying Person shall retain counsel reasonably satisfactory to the indemnified party Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to represent the indemnified party Indemnified Person and any others entitled to indemnification pursuant to this Section 11 that the indemnifying party Indemnifying Person may designate in such proceeding and shall pay the fees and disbursements expenses of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof, as incurred. In any such proceeding, any indemnified party Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party Indemnified Person unless (i) the indemnifying party Indemnifying Person and the indemnified party Indemnified Person shall have mutually agreed to the retention of such counsel, contrary; (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or Indemnified Person; (iviii) the indemnified party Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying partyIndemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood and agreed that the indemnifying party Indemnifying Person shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties Indemnified Persons, and that all such reasonable fees and expenses shall be paid or reimbursed as they are incurred. If Any such separate firm for the indemnifying party does not elect to assume Agents, their affiliates, directors and officers and any control persons of the defense, then such firm Agents shall be designated in writing by the AgentsAgents or, if applicable, the Direct Seller, any such separate firm for the Selling Stockholder, its affiliates, directors and officers and any control persons of the Selling Stockholder shall be designated in the case of parties indemnified pursuant to Section 9(a), and writing by the Selling Stockholder and any such separate firm for the Company, its directors, its officers who signed the Registration Statement and any control persons of the Company shall be designated in writing by the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but but, if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party Indemnifying Person agrees to indemnify the indemnified party each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party Indemnified Person shall have requested that an indemnifying party to Indemnifying Person reimburse the indemnified party Indemnified Person for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it Indemnifying Person shall be liable for any settlement of any proceeding effected without its written consent if (iA) such settlement is entered into more than 30 days after receipt by the Indemnifying Person of such indemnifying party of request and (B) the aforesaid request; (ii) such indemnifying party Indemnifying Person shall not have reimbursed the indemnified party Indemnified Person in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party Indemnifying Person shall, without the prior written consent of the indemnified partyIndemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party Indemnified Person is or could have been a party and indemnity indemnification could have been sought hereunder by such indemnified partyIndemnified Person, unless such settlement (x) includes an unconditional release of such indemnified partyIndemnified Person, in form and substance reasonably satisfactory to such indemnified partyIndemnified Person, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyIndemnified Person. (de) To the extent If the indemnification provided for in Section 9(aparagraphs (a), (b) or 9(band (c) above is unavailable to an indemnified party Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party Indemnifying Person under such paragraph, in lieu of indemnifying such indemnified party Indemnified Person thereunder, shall contribute to the amount paid or payable by such indemnified party Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany and the Selling Stockholder, on the one hand, and the applicable Agents, on the other handother, from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesCompany and the Selling Stockholder, on the one hand, and of the applicable Agents, on the other handother, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesCompany and the Selling Stockholder, on the one hand, and the applicable Agents, on the other handother, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Selling Stockholder from the sale of the Shares and the total discounts and commissions received by the Agents in connection with the offering of the Shares, therewith bear to the aggregate Gross Sales Price of the such Shares. The relative fault of the Transaction EntitiesCompany and the Selling Stockholder, on the one hand, and the applicable Agents, on the other handother, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or the Selling Stockholder, on the one hand, or by the Agents applicable Agents, on the other, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (ef) The Transaction Entities Company, the Selling Stockholder and the Agents agree that it would not be just or and equitable if contribution pursuant to this Section 9 11 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)paragraph (d) above. The amount paid or payable by an indemnified party Indemnified Person as a result of the losses, claims, damages and liabilities referred to in Section 9(dparagraph (e) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party Indemnified Person in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 911, in no event shall an Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with respect to the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. . (g) The remedies provided for in this Section 9 11 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party Indemnified Person at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Distribution Agreement (Noble Corp), Distribution Agreement (Freeport-McMoran Inc)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify indemnify, defend and hold harmless each the Placement Agent, its affiliates, directors, their respective directors and officers, members and employees and each person, if any, any person who controls any or is alleged to control either Placement Agent within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act (each, an a Placement Agent Indemnified Party”) ), and the successors and assigns of all the foregoing persons, from and against any and all lossesloss, claimsdamage, damages and liabilities expense, liability or claim (includingincluding the reasonable cost of investigation) which, without limitationjointly or severally, any legal such Placement Agent Indemnified Party or other expenses reasonably incurred in connection with defending or investigating any such action person may incur under the Act, the Exchange Act, the common law or claim) arising otherwise, insofar as such loss, damage, expense, liability or claim arises out of or is based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectusStatement, the Prospectus or any amendment the Time of Sale Information, each as amended or supplement thereto or any Permitted Free Writing Prospectussupplemented, if applicable, or arising arises out of or is based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein made therein, in the light of the circumstances under which they were made, not misleading, except insofar as any such lossesloss, claimsdamage, damages expense, liability or liabilities are arising claim arises out of or is based upon any such untrue statement or omission or alleged untrue statement or omission made of a material fact contained in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon omitted from and in conformity with information furnished in writing by or on behalf of any Placement Agent to the Agent InformationCompany expressly for use therein, which information the parties hereto agree is limited to the Placement Agents’ Information (as defined in Section 10). (b) Each Placement Agent agrees, severally and not jointly, to indemnify indemnify, defend and hold harmless each Transaction Entity, the Company’s directors, its directors and officers who signed the Registration Statement and each person, if any, any person who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act to (each, a “Company Indemnified Party”) from and against any loss, damage, expense, liability or claim (including the same extent reasonable cost of investigation) which such Company Indemnified Party may incur under the Act, the Exchange Act or otherwise, insofar as the foregoing indemnity from the Transaction Entities to such Agentloss, but only with respect to damage, expense, liability or claim arises out of or is based upon any untrue statements or omissions, statement or alleged untrue statements statement of a material fact contained in information furnished in writing by or omissions, made on behalf of such Placement Agent to the Company expressly for use in the Registration Statement or any amendment thereofStatement, the Prospectus or the Time of Sale Information or arises out of or is based upon any amendment omission or supplement thereto or any Permitted Free Writing Prospectusalleged omission to state a material fact necessary in order to make the statements therein, in reliance upon and the light of the circumstances under which they were made, not misleading, in conformity connection with such information; provided that the parties hereto hereby agree that such written information provided by the Placement Agents consists solely of the Placement Agents’ Information. Notwithstanding the provisions of this Section 7, in no event shall any indemnity by any Placement Agent Informationunder this Section 7(b) exceed the total compensation received by such Placement Agent in accordance with Section 1(f). (c) In case If any action, suit or proceeding (including any governmental investigationeach, a “Proceeding”) shall be instituted involving is brought against any person in respect of which indemnity may be sought pursuant to Section 9(aeither subsection (a) or 9(b)(b) of this Section 7, such person (the “indemnified partyIndemnified Party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying partyIndemnifying Party”) in writing of the institution of such Proceeding and the indemnifying party such Indemnifying Party shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereofof such Proceeding, with including the employment of counsel reasonably satisfactory to the indemnified party to represent the indemnified party such Indemnified Party and any others the indemnifying party may designate in such proceeding and shall pay the payment of all fees and disbursements of expenses; provided, however, that the omission to so notify such counsel related Indemnifying Party shall not relieve such Indemnifying Party from any liability which it may have to such proceedingIndemnified Party or otherwise. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party Such Indemnified Party shall have the right to retain employ its own counselcounsel in any such case, but the fees and expenses of such counsel shall be at the expense of such indemnified party Indemnified Party unless (i) the indemnifying party and the indemnified party employment of such counsel shall have mutually agreed to been authorized in writing by such Indemnifying Party in connection with the retention defense of such counselProceeding, (ii) such Indemnifying Party shall not have employed counsel to have charge of the named parties to any defense of such proceeding (including any impleaded parties) include both Proceeding within 30 days of the indemnifying party and the indemnified party and representation receipt of both parties by the same counsel would be inappropriate due to actual notice thereof or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party such Indemnified Party shall have reasonably concluded upon written advice of counsel that there may be legal defenses available to it that are different from from, additional to, or in addition to conflict with those available to such Indemnifying Party (in which case such Indemnifying Party shall not have the indemnifying party. It is understood right to direct that the indemnifying party shall not, in respect portion of the legal expenses defense of any indemnified party in connection with any proceeding or separate such Proceeding on behalf of such Indemnified Party, but substantially similar or related proceedings such Indemnifying Party may employ counsel and participate in the same jurisdiction, be liable for defense thereof but the fees and expenses of more than one separate firm (such counsel shall be at the expense of such Indemnifying Party), in addition to one local counsel) for all such indemnified parties and that all any of which events such reasonable fees and expenses shall be reimbursed borne by such Indemnifying Party and paid as they incurred (it being understood, however, that such Indemnifying Party shall not be liable for the expenses of more than one separate counsel in any one Proceeding or series of related Proceedings together with reasonably necessary local counsel representing the Indemnified Parties who are incurred. If the indemnifying party does not elect parties to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(bProceeding). The indemnifying party An Indemnifying Party shall not be liable for any settlement of any proceeding such Proceeding effected without its written consent, but if settled with the written consent of such consent or if there be a final judgment for the plaintiffIndemnifying Party, the indemnifying party such Indemnifying Party agrees to indemnify the indemnified party and hold harmless an Indemnified Party from and against any loss or liability by reason of such settlement or judgmentsettlement. Notwithstanding the foregoing sentence, if at any time an indemnified party Indemnified Party shall have requested an indemnifying party Indemnifying Party to reimburse the indemnified party such Indemnified Party for fees and expenses of counsel as contemplated by the second and third sentences sentence of this paragraph, the indemnifying party then such Indemnifying Party agrees that it shall be liable for any settlement of any proceeding Proceeding effected without its written consent if (i) such settlement is entered into more than 30 60 business days after receipt by such indemnifying party Indemnifying Party of the aforesaid request; , (ii) such indemnifying party Indemnifying Party shall not have reimbursed the indemnified party such Indemnified Party in accordance with such request prior to the date of such settlement; settlement and (iii) such indemnifying party Indemnified Party shall have received notice of the terms of given such settlement Indemnifying Party at least 30 days days’ prior written notice of its intention to such settlement being entered intosettle. No indemnifying party shallAn Indemnifying Party shall not, without the prior written consent of the indemnified partyany Indemnified Party, effect any settlement of any pending or threatened proceeding Proceeding in respect of which any indemnified party such Indemnified Party is or could have been a party and indemnity could have been sought hereunder by such indemnified partyIndemnified Party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, Indemnified Party from all liability on claims that are the subject matter of such proceeding Proceeding and (y) does not include any statement as to or any an admission of fault, culpability or a failure to act act, by or on behalf of any indemnified partysuch Indemnified Party. (d) To the extent If the indemnification provided for in this Section 9(a) or 9(b) 7 is unavailable to an indemnified party or insufficient Indemnified Party under subsections (a) and (b) of this Section 7 in respect of any losses, claimsdamages, damages expenses, liabilities or liabilities claims referred to therein, then each indemnifying party under such paragraphapplicable Indemnifying Party, in lieu of indemnifying such indemnified party thereunderIndemnified Party, shall contribute to the amount paid or payable by such indemnified party Indemnified Party as a result of such losses, claimsdamages, damages expenses, liabilities or liabilities claims (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Placement Agents on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Placement Agents on the other hand, in connection with the statements or omissions that which resulted in such losses, damages, expenses, liabilities or claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Placement Agents on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions proportion as the total net proceeds from the offering (net of the Shares (Placement Agents’ discounts and commissions but before deducting expenses) received by the Transaction Entities and Company bear to the total discounts and commissions received by the Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price of the SharesPlacement Agents. The relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Placement Agents on the other hand, shall be determined by reference to, among other things, whether the untrue statement or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents any Placement Agent and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering amount paid or payable by a party as a result of the Shareslosses, damages, expenses, liabilities and not joint. The provisions set forth in Section 9(c) hereof with respect claims referred to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice above shall be required deemed to include any reasonable legal or other fees or expenses reasonably incurred by such party in connection with respect to investigating or defending any action for which notice has been given under section 9(d) hereof for purposes of indemnificationProceeding. (e) The Transaction Entities Company and the Agents each Placement Agent agree that it would not be just or and equitable if contribution pursuant to this Section 9 7 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that which does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(dsubsection (d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 97, no Placement Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions compensation received by such Placement Agent in connection accordance with the offering of the Shares Section 1(f) exceeds the amount of any damages that such which the Placement Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Placement Agents’ respective obligations to contribute pursuant to this Section 7 are several in proportion to the respective amount of Shares they have placed hereunder, and not joint. The remedies provided for in this Section 9 7 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions agreements contained in this Section 9 7 and the representations andcovenants, warranties and representations of the Transaction Entities Company and the Placement Agents contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect (regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agentthe Placement Agents, their respective directors or officers or any person controlling any who controls such Placement Agent within the meaning of Section 15 of the Act or any affiliate Section 20 of any Agent the Exchange Act, or by or on behalf of any Transaction Entity or any of their respective the Company, its directors and officers or directors or any person controlling who controls the Company within the meaning of Section 15 of the Act or Section 20 of the Exchange Act), and shall survive any Transaction Entity termination of this Agreement or the issuance and (iii) delivery of the Shares. The Company and each Placement Agent agree promptly to notify the other of the commencement of any acceptance litigation or proceeding against it and, in the case of and payment for the Company, against any of the Company’s officers and directors, in connection with the issuance and sale of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, or in connection with the Registration Statement, the obligations Prospectus or the Time of the Agents under this Agreement are several and not jointSale Information.

Appears in 2 contracts

Sources: Placement Agency Agreement (Auxilium Pharmaceuticals Inc), Placement Agency Agreement (Auxilium Pharmaceuticals Inc)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and the employees and agents of each Underwriter, each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any documented legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show as defined in Rule 433(h) under the Securities Act (a “road show”), or the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Written Testing-the-Waters Communication or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent Company in writing by such Underwriter through you expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through you consists of the Underwriter Information. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through you expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectusthereto, in reliance upon it being understood and in conformity with agreed that the Agent only such information furnished by the Underwriters through you consists of the Underwriter Information. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred and documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the reasonably incurred fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable reasonably incurred fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any a statement as to or any an admission of fault, culpability or a failure to act act, by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (after deducting underwriting discounts and commissions but before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (IMARA Inc.), Underwriting Agreement (IMARA Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentInitial Purchaser, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Initial Purchaser within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Initial Purchaser within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereofPreliminary Memorandum, the Time of Sale Memorandum, any preliminary prospectusAdditional Written Offering Communication prepared by or on behalf of, used by, or referred to by the Company, any General Solicitation made by the Company, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus Final Memorandum or any amendment or supplement thereto or any Permitted Free Writing Prospectusthereto, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein in the light of the circumstances under which they were made not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made based upon information relating to any Initial Purchaser furnished to the Company in writing by such Initial Purchaser through the Registration Statement or any amendment thereofRepresentatives expressly for use therein, it being understood and agreed that the Prospectus or any Permitted Free Writing Prospectus, only such information furnished by the Initial Purchasers through the Representatives consists of the information described as such in reliance upon and in conformity with the Agent Informationparagraph (b) below. (b) Each Agent Initial Purchaser agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentInitial Purchaser, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Initial Purchaser furnished to the Company in writing by such Initial Purchaser through the Representatives expressly for use in the Registration Statement or any amendment thereofPreliminary Memorandum, the Prospectus Time of Sale Memorandum, any Additional Written Offering Communication set forth in Schedule II hereto, road show, the Final Memorandum or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationthereto. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred and documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed in writing to the retention of such counsel, (ii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party, (iii) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party, or (iv) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in such form and substance reasonably satisfactory to such indemnified party, from all liability on claims that are the subject matter of such proceeding proceeding, and (y) does not include any statement as statements to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Initial Purchasers on the other hand, hand from the offering of the Shares Securities or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Initial Purchasers on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Initial Purchasers on the other hand, hand in connection with the offering of the Shares Securities shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares Securities (before deducting expenses) received by the Transaction Entities Company and the total discounts and commissions received by the Agents in connection with the offering of the Shares, Initial Purchasers bear to the aggregate Gross Sales Price offering price of the SharesSecurities. The relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Initial Purchasers on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Initial Purchasers and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsInitial Purchasers’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions principal amount of Securities they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Initial Purchasers agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Initial Purchasers were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Initial Purchaser shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received price at which the Securities resold by it in the initial placement of such Agent in connection with the offering of the Shares Securities were offered to investors exceeds the amount of any damages that such Agent Initial Purchaser has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentInitial Purchaser, any person controlling any Agent Initial Purchaser or any affiliate of any Agent Initial Purchaser or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the SharesSecurities. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Purchase Agreement (RingCentral, Inc.), Purchase Agreement (RingCentral, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any “issuer free writing prospectus” as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationany Underwriter Information (as defined below). (b) Each Agent agrees, severally and not jointly, The Selling Stockholder agrees to indemnify and hold harmless each Transaction EntityUnderwriter, each affiliate of any Underwriter within the Company’s directors, officers who signed meaning of Rule 405 under the Registration Statement Securities Act and each person, if any, who controls either of the Transaction Entities such Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from set forth in paragraph (a) above; provided that the Transaction Entities Selling Stockholder shall be liable only to the extent that such Agentuntrue statement or alleged untrue statement of material fact or omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading has been made in the Registration Statement, any Preliminary Prospectus, the Time of Sale Prospectus or the Prospectus, or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any roadshow or any Testing-the-Waters Communication, but only with reference to the Selling Stockholder Information furnished to the Company in writing by or on behalf of the Selling Stockholder expressly for use therein. The liability under this subsection (b) of the Selling Stockholder shall be limited to an amount equal to the aggregate gross proceeds after underwriting commissions and discounts, but before expenses, to the Selling Stockholder from the sale of Shares sold by the Selling Stockholder hereunder (with respect to the Selling Stockholder, such amount being referred to herein as the Selling Stockholder’s “Net Proceeds”). (c) Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company, the Selling Stockholder, the directors of the Company, the officers of the Company who sign the Registration Statement and each person, if any, who controls the Company or the Selling Stockholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of, or are based upon, any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show or the Prospectus or any amendment or supplement thereto thereto, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to such Underwriter furnished to the Company in writing by or on behalf of such Underwriter through the Representative expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto; it being understood and agreed upon that the only information furnished by any such Underwriter through the Representative consists of the following information in the Time of Sale Prospectus and the Prospectus furnished on behalf of each Underwriter: the information in the first sentence and second sentence in the sixth paragraph under the heading “Underwriting”, the information in reliance upon the first sentence, the second sentence, the fifth sentence, the sixth sentence, the eighth sentence and the ninth sentence in conformity with the Agent twelfth paragraph under the heading “Underwriting”, the information in the first sentence in the thirteenth paragraph under the heading “Underwriting”, the information in the third sentence in the fourteenth paragraph under the heading “Underwriting” and the information appearing under the heading “Underwriting–Electronic Distribution” (such information, the “Underwriter Information”). (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a11(a), 11(b) or 9(b11(c), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonable and documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a) or 9(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction Entities, on the one hand, and of the Agents, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and the total discounts and commissions received by the Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price of the Shares. The relative fault of the Transaction Entities, on the one hand, and the Agents, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities or by the Agents and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities and the Agents agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.between

Appears in 2 contracts

Sources: Underwriting Agreement (McGraw Hill, Inc.), Underwriting Agreement (McGraw Hill, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Partnership agrees to indemnify and hold harmless each Agent, its affiliates, and its and their respective officers, directors, officersemployees, selling agents, partners and members and employees and each person, if any, who controls any such Agent within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any reasonable out of pocket legal or fees and other expenses reasonably incurred in connection with defending or investigating any such suit, action or claimproceeding or any claim asserted, as such fees and expenses are incurred) arising that arise out of of, or are based upon upon, (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein, not misleading or (ii) any untrue statement or alleged untrue statement of a material fact contained in the Prospectus (or any amendment or supplement thereto) or any Permitted Free Writing Prospectus (or any amendment or supplement thereto) or caused by any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to the Agent InformationAgents furnished to the Partnership in writing by or on behalf of the Representative expressly for use in the Registration Statement, the Prospectus (or any amendment or supplement thereto) or any Permitted Free Writing Prospectus (it being understood that such information consists solely of the information specified in Section 9(b)). (b) Each Agent agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Partnership, the Company’s directorsdirectors of the General Partner, each of the officers of the General Partner who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Partnership within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agentset forth in Section 9(a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statements statement or omissions, omission or alleged untrue statements statement or omissions, omission made in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to such Agent furnished to the Partnership in writing by or on behalf of such Agent Informationexpressly for use in the Registration Statement, the Basic Prospectus, the Prospectus (or any amendment or supplement thereto), any Permitted Free Writing Prospectus, it being understood and agreed upon that such information shall consist solely of the following: such Agent’s name and the fourth sentence of the second paragraph, the third paragraph and the eight paragraph under the heading “Plan of Distribution” in the Prospectus Supplement. (c) In case If any suit, action, proceeding (including any governmental or regulatory investigation) ), claim or demand shall be instituted involving brought or asserted against any person in respect of which indemnity indemnification may be sought pursuant to either Section 9(a) or 9(b)) above, such person (the “indemnified partyIndemnified Person”) shall promptly notify the person against whom such indemnity indemnification may be sought (the “indemnifying partyIndemnifying Person”) in writing and writing; provided that the indemnifying party failure to notify the Indemnifying Person shall be entitled to participate therein and, not relieve it from any liability that it may have under this Section 9 except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall electnot relieve it from any liability that it may have to an Indemnified Person otherwise than under this Section 9. In the case of parties indemnified pursuant to Section 9(a) above, jointly with any other indemnifying party similarly notifiedcounsel to the Indemnified Person shall be selected by the Representative, and, in the case of parties indemnified pursuant to assume Section 9(b) above, counsel to the Indemnified Person shall be selected by the Partnership. An Indemnifying Person may participate at its own expense in the defense thereofof any such action; provided, with however, that counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and Indemnifying Person shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection not (except with the defense thereof. In any such proceeding, any indemnified party shall have consent of the right to retain its own counsel, but the fees and expenses of such Indemnified Person) also be counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying partyIndemnified Person. It is understood and agreed that the indemnifying party Indemnifying Person shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings proceeding in the same jurisdiction, be liable for the reasonable fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties Indemnified Persons, and that all such reasonable fees and expenses shall be paid or reimbursed as they are incurred. If Any such separate firm for the indemnifying party does not elect to assume Representative, its affiliates, directors, officers and agents and any control persons of the defense, then such firm Representative shall be designated in writing by the AgentsRepresentative and any such separate firm for the Partnership, its directors, its officers who signed the Registration Statement and any control persons of the Partnership shall be designated in the case of parties indemnified pursuant to Section 9(a), and writing by the Company in the case of parties indemnified pursuant to Section 9(b)Partnership. The indemnifying party Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party Indemnifying Person agrees to indemnify the indemnified party each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party Indemnifying Person shall, without the prior written consent of the indemnified partyIndemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party Indemnified Person is or could have been a party and indemnity indemnification could have been sought hereunder by such indemnified partyIndemnified Person, unless such settlement (x) includes an unconditional release of such indemnified partyIndemnified Person, in form and substance reasonably satisfactory to such indemnified partyIndemnified Person, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyIndemnified Person. If at any time an Indemnified Person shall have requested an Indemnifying Person to reimburse the Indemnified Person for fees and expenses of counsel, such Indemnifying Person agrees that it shall be liable for any settlement of the nature contemplated by this Section 9(c) effected without its written consent if (i) such settlement is entered into more than 60 days after receipt by such Indemnifying Person of the aforesaid request, (ii) such Indemnifying Person shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into and (iii) such Indemnifying Person shall not have reimbursed such Indemnified Person in accordance with such request prior to the date of such settlement. (d) To the extent If the indemnification provided for in Section Sections 9(a) or and 9(b) above is unavailable to an indemnified party Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party Indemnifying Person under such paragraphSections, in lieu of indemnifying such indemnified party Indemnified Person thereunder, shall contribute to the amount paid or payable by such indemnified party Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesPartnership, on the one hand, and the Agents, on the other handother, from the offering of the Shares Units or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesPartnership, on the one hand, and of the Agents, on the other handother, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesPartnership, on the one hand, and the Agents, on the other handother, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Partnership from the sale of the Units and the total underwriting discounts and commissions received by the Agents in connection with the offering of the Shares, therewith bear to the aggregate Gross Sales Price of the SharesPrice. The relative fault of the Transaction EntitiesPartnership, on the one hand, and the Agents, on the other handother, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Partnership, on the one hand, or by the Agents Agents, on the other, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Partnership and the Agents agree that it would not be just or and equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)) above. The amount paid or payable by an indemnified party Indemnified Person as a result of the losses, claims, damages and liabilities referred to in Section 9(d) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party Indemnified Person in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, in no event shall an Agent shall be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such Agent in connection with respect to the offering of the Shares Units exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. . (f) The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party Indemnified Person at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Distribution Agreement (Atlas Resource Partners, L.P.), Distribution Agreement (Atlas Resource Partners, L.P.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directorspartners, officers, members directors and employees officers and each person, if any, who controls any Agent such Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any reasonable out of pocket legal or fees and other expenses reasonably incurred in connection with defending or investigating any such suit, action or claimproceeding or any claim asserted, as such fees and expenses are incurred) arising that arise out of of, or are based upon upon, (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading or (ii) any untrue statement or alleged untrue statement of a material fact contained in the Pricing Prospectus (or any amendment or supplement thereto), the Prospectus (or any amendment or supplement thereto), the Pricing Disclosure Package, any Permitted Free Writing Prospectus (or any amendment or supplement thereto) or caused by any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to the Agent InformationUnderwriters furnished to the Company in writing by or on behalf of the Underwriters expressly for use in the Registration Statement, the Pricing Prospectus (or any amendment or supplement thereto), the Prospectus (or any amendment or supplement thereto), the Pricing Disclosure Package, any Permitted Free Writing Prospectus (or any amendment or supplement thereto), it being understood that such information consists solely of the information specified in Section 6(b)). (b) Each Agent agreesUnderwriter, severally and not jointly, agrees to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agentset forth in Section 6(a), but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statements statement or omissions, omission or alleged untrue statements statement or omissions, omission made in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to such Underwriter furnished to the Agent InformationCompany in writing by or on behalf of such Underwriter expressly for use in the Registration Statement, the Pricing Prospectus (or any amendment or supplement thereto), the Prospectus (or any amendment or supplement thereto), the Pricing Disclosure Package or any Permitted Free Writing Prospectus (or any amendment or supplement thereto); it being understood that such information shall consist solely of the following: the second sentence of the seventh paragraph and the ninth and tenth paragraphs under the heading “Underwriting” in the Preliminary Prospectus. (c) In case If any suit, action, proceeding (including any governmental or regulatory investigation) ), claim or demand shall be instituted involving brought or asserted against any person in respect of which indemnity indemnification may be sought pursuant to the preceding paragraphs of this Section 9(a) or 9(b)6, such person (the “indemnified partyIndemnified Person”) shall promptly notify the person against whom such indemnity indemnification may be sought (the “indemnifying partyIndemnifying Person”) in writing and writing; provided that the indemnifying party failure to notify the Indemnifying Person shall be entitled to participate therein and, not relieve it from any liability that it may have under paragraph (a) or (b) above except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall elect, jointly with not relieve it from any other indemnifying party similarly notified, liability that it may have to assume an Indemnified Person otherwise than under paragraph (a) or (b) above. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the defense Indemnifying Person thereof, with the Indemnifying Person shall retain counsel reasonably satisfactory to the indemnified party Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to represent the indemnified party Indemnified Person and any others entitled to indemnification pursuant to this Section 6 that the indemnifying party Indemnifying Person may designate in such proceeding and shall pay the fees and disbursements expenses of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof, as incurred. In any such proceeding, any indemnified party Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party Indemnified Person unless (i) the indemnifying party Indemnifying Person and the indemnified party Indemnified Person shall have mutually agreed to the retention of such counsel, contrary; (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or Indemnified Person; (iviii) the indemnified party Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying partyIndemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood and agreed that the indemnifying party Indemnifying Person shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties Indemnified Persons, and that all such reasonable fees and expenses shall be paid or reimbursed as they are incurred. If Any such separate firm for the indemnifying party does not elect to assume Underwriters, their affiliates, partners, directors and officers and any control persons of the defense, then such firm Underwriters shall be designated in writing by the AgentsRepresentative and any such separate firm for the Company, its directors, its officers who signed the Registration Statement and any control persons of the Company shall be designated in the case of parties indemnified pursuant to Section 9(a), and writing by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but but, if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party Indemnifying Person agrees to indemnify the indemnified party each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party Indemnifying Person shall, without the prior written consent of the indemnified partyIndemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party Indemnified Person is or could have been a party and indemnity indemnification could have been sought hereunder by such indemnified partyIndemnified Person, unless such settlement (x) includes an unconditional release of such indemnified partyIndemnified Person, in form and substance reasonably satisfactory to such indemnified partyIndemnified Person, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyIndemnified Person. (d) To the extent If the indemnification provided for in Section 9(aSections 6(a) or 9(b6(b) above is unavailable to an indemnified party Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party Indemnifying Person under such paragraphSections, in lieu of indemnifying such indemnified party Indemnified Person thereunder, shall contribute to the amount paid or payable by such indemnified party Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany, on the one hand, and the Agents, Underwriters on the other handother, from the offering of the Shares Securities or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesCompany, on the one hand, and of the Agents, Underwriters on the other handother, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesCompany, on the one hand, and the Agents, Underwriters on the other handother, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and Company from the sale of the Securities to the total underwriting discounts and commissions received by the Agents Underwriters in connection with the offering of the Shares, therewith bear to the aggregate Gross Sales Price offering price of the SharesSecurities. The relative fault of the Transaction EntitiesCompany, on the one hand, and the Agents, Underwriters on the other handother, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or and equitable if contribution pursuant to this Section 9 6 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)6(b) above. The amount paid or payable by an indemnified party Indemnified Person as a result of the losses, claims, damages and liabilities referred to in Section 9(d6(d) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party Indemnified Person in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 96, in no Agent event shall the Underwriters be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such Agent in connection the Underwriters with respect to the offering of the Shares Securities exceeds the amount of any damages that such Agent has the Underwriters have otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Underwriters’ obligations to contribute pursuant to this Section 6 are several in proportion to their respective obligations hereunder and not joint. (f) The remedies provided for in this Section 9 6 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party Indemnified Person at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (E TRADE FINANCIAL Corp), Underwriting Agreement (E TRADE FINANCIAL Corp)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any documented legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, the Basic Prospectus, any preliminary prospectusPreliminary Prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show as defined in Rule 433(h) under the Securities Act (a “road show”), or the Prospectus or any amendment or supplement thereto thereto, or any Permitted Free Writing ProspectusWritten Testing-the-Waters Communication, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent Company in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the Underwriter Information, as defined in paragraph (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with reference to Underwriter Information. As used in this Agreement with respect to untrue statements or omissionsan Underwriter and an applicable document, or alleged untrue statements or omissions, made “Underwriter Information” shall mean the written information furnished to the Company by such Underwriter through the Representatives expressly for use therein; it being understood and agreed upon that the only such information furnished by any Underwriter consists of the following information in the Registration Statement or any amendment thereofProspectus furnished on behalf of each Underwriter: the concession figure appearing in the third paragraph under the caption “Underwriting”, and the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectusinformation contained in the seventh, in reliance upon twelfth and in conformity with thirteenth paragraphs under the Agent Informationcaption “Underwriting”. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred and documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyproceeding. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Moderna, Inc.), Underwriting Agreement (Moderna, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages damages, and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Prospectus Time of Sale Prospectus, or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any Permitted Free Writing road show as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus, or arising any amendment or supplement thereto, or any Testing-the-Waters Communication, or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages damages, or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of Underwriter Information as defined in paragraph (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement Statement, and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or any amendment thereof, the Prospectus or any amendment or supplement thereto or (the “Underwriter Information”), it being understood and agreed that the only such information furnished by any Permitted Free Writing such Underwriter consists of the following information in the Registration Statement, the Time of Sale Prospectus, and the Prospectus: the concession figure appearing in reliance upon the third paragraph under the caption “Underwriters”; the information concerning sales to discretionary accounts appearing in the sole sentence of the seventh paragraph under the “Underwriters”; and the information concerning stabilization in conformity with the Agent Informationtwelfth paragraph, other than in the third and eighth sentences thereof, under the caption “Underwriters. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed in writing to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (x) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (xa) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (yb) does not include any statement as to or any admission of fault, culpability culpability, or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages damages, or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages damages, or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (after deducting underwriting commission and discounts but before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information information, and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages damages, and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter, or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors directors, or any person controlling any Transaction Entity the Company, and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Omada Health, Inc.), Underwriting Agreement (Omada Health, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, directors and officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachand each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the information described as such in paragraph (c) below. (b) Each Agent Selling Shareholder agrees, severally and not jointly, to indemnify and hold harmless each Transaction EntityUnderwriter, its directors and officers, each person, if any, who controls any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, the Prospectus or any amendment or supplement thereto, or any Testing-the-Waters Communication or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, only to the extent such losses, claims, damages or liabilities are caused by any untrue statement or omission or alleged untrue statement or omission made in reliance on and in conformity with the Selling Shareholder Information provided by such Selling Shareholder furnished in writing by or on behalf of such Selling Shareholder expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or the Prospectus or any amendment or supplement thereto. The liability of each Selling Shareholder under the indemnity agreement contained in this paragraph shall be limited to an amount equal to the aggregate net proceeds (after deducting underwriter discounts and commissions but before deducting offering expenses) received by such Selling Shareholder for the Shares sold by such Selling Shareholder under this Agreement (with respect to each Selling Shareholder, the “Selling Shareholder Proceeds”). (c) Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company’s directors, the Selling Shareholders, the directors of the Company, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or any Selling Shareholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company and the Selling Shareholders to such Agent, Underwriter but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or any amendment thereof, the Prospectus or any amendment or supplement thereto or thereto, it being understood and agreed upon that the only such information furnished by any Permitted Free Writing ProspectusUnderwriter consists of the following information in the Prospectus furnished on behalf of each Underwriter: the information in the third paragraph regarding the Underwriters’ offering of the Shares and the twelfth paragraph concerning the Underwriters’ stabilization activities under “Underwriting” (such information, in reliance upon and in conformity with the Agent “Underwriter Information”). (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a11(a), 11(b) or 9(b), 11(c) such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall retain counsel (who shall not, without the consent of the indemnified party, be entitled to participate therein and, counsel to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel party) reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel and to the indemnifying party paying for such counsel, ’s reasonably incurred fees and disbursements or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing conflict of interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood and agreed that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, the directors of the Company, the officers of the Company who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section and (iii) the fees and expenses of more than one separate firm (in addition to any local counsel) for all Selling Shareholders and all persons, if any, who control any Selling Shareholders within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such directors, then officers and control persons and affiliates of any Underwriter, such firm shall be designated in writing by the Agents, in Representatives. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in Company. In the case of parties indemnified pursuant to Section 9(b)any such separate firm for the Selling Shareholders and such control persons of any Selling Shareholders, such firm shall be designated in writing by the Selling Shareholders. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any a statement as to or any an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (de) To the extent the indemnification provided for in Section 9(a11(a), 11(b) or 9(b11(c) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i11(e)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i11(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Selling Shareholders on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities each Selling Shareholder and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, indemnifying party on the one hand, hand and the Agents, indemnified party on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company, the Selling Shareholders or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 11 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth Company and the Selling Shareholder’s respective obligations to contribute pursuant to this Section 11 are several in proportion to the respective number of Shares they have sold hereunder, and not joint. Notwithstanding the foregoing provisions, the liability of each Selling Shareholder under the contribution agreement contained in this paragraph and the indemnity agreement contained in Section 9(c11(b) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect limited in the aggregate to any action for which notice has been given under section 9(d) hereof for purposes an amount equal to the Selling Shareholder Proceeds of indemnificationsuch Selling Shareholder. (ef) The Transaction Entities Company, the Selling Shareholders and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 11 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d11(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d11(e) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 911, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 11 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fg) The indemnity and contribution provisions contained in this Section 9 11 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company and the Selling Shareholders contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, its officers or directors, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter, or by or on behalf of any Transaction Entity Selling Shareholder or any person controlling any Selling Shareholder, or by or on behalf of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (Primo Brands Corp), Underwriting Agreement (Primo Brands Corp)

Indemnity and Contribution. (a) Each of the Transaction EntitiesThe ZoomInfo Parties, jointly and severally, agrees agree to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officersofficers and employees, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any ZoomInfo Party information that any ZoomInfo Party has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing ProspectusWritten Testing-the-Waters Communication or arise out of, or arising out of or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with (i) information relating to any Underwriter furnished to the Agent Company in writing by or on behalf of any such Underwriter through you expressly for use therein, it being understood and agreed that the only such information furnished by any Underwriter consists of the information described as such in paragraph (c) below or (ii) the Selling Stockholder Information. (b) Each Agent of the Selling Stockholder agrees, severally and not jointly, to indemnify and hold harmless each Transaction EntityUnderwriter, its directors, officers and employees, each person, if any, who controls any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act to the same extent as the foregoing indemnity from the ZoomInfo Parties to the Underwriters set forth in paragraph (a) above, but only with reference to information relating to such Selling Stockholder furnished in writing by or on behalf of any such Selling Stockholder expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act, the Prospectus or any amendment or supplement thereto or any Written Testing-the-Waters Communication, it being understood and agreed that the only such information furnished by any Selling Stockholder consists of such Selling Stockholder’s Selling Stockholder Information. The aggregate liability of each Selling Stockholder under the indemnification agreement contained in this paragraph and the contribution agreement contained in this Section 10 shall be limited to an amount equal to the aggregate net proceeds (after deducting underwriting commissions and discounts, but before deducting expenses) applicable to the Shares sold by such Selling Stockholder pursuant to this Agreement (the “Selling Stockholder Proceeds”). (c) Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the ZoomInfo Parties, the Selling Stockholders, the Company’s directors, the Company’s officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or any Selling Stockholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities ZoomInfo Parties to such AgentUnderwriter set forth in paragraph (a) above, but only with respect reference to untrue statements information relating to such Underwriter furnished to the Company in writing by or omissions, or alleged untrue statements or omissions, made on behalf of any such Underwriter through you expressly for use in the Registration Statement or Statement, any amendment thereofpreliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing ProspectusWritten Testing-the-Waters Communication, it being understood and agreed that the only such information furnished by any Underwriter consists of the following information in reliance upon the Registration Statement, the Time of Sale Prospectus and the Prospectus furnished on behalf of each Underwriter: (i) the concession and reallowance figures appearing in conformity with the Agent Informationfirst and second sentences of the third paragraph under the caption “Underwriting” and (ii) the information contained in the seventh and thirteenth paragraphs under the caption “Underwriting” relating to distributions, price stabilization, short positions and penalty bids. (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a10(a), 10(b) or 9(b)10(c) hereof, such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party (who shall not, without the consent of the indemnified person, be counsel to the indemnifying person) to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred fees and disbursements of such counsel related to such proceeding. After notice from ; provided that the failure to notify the indemnifying party person shall not relieve it from any liability that it may have under the preceding paragraphs of this Section 10 except to such indemnified party the extent that it has been materially prejudiced (through the forfeiture of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel substantive rights or any other expenses subsequently incurred defenses) by such failure; provided, further, that the failure to notify the indemnifying person shall not relieve it from any liability that it may have to an indemnified party in connection with person otherwise than under the defense thereofpreceding paragraphs of this Section 10. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to together with one local counselcounsel in each jurisdiction) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives, in the case of parties indemnified pursuant to Section 9(a)10(a) or 10(b) hereof, by the Company, in the case the ZoomInfo Parties, the Company’s directors, the Company’s officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and by the Company Selling Stockholders, in the case of parties indemnified pursuant to the Selling Stockholders and each person, if any, who controls any Selling Stockholder within the meaning of either Section 9(b)15 of the Securities Act or Section 20 of the Exchange Act. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to statements to, or any admission of of, fault, culpability or a failure to act by or on behalf of any indemnified party. (de) To the extent the indemnification provided for in Section 9(a10(a), 10(b) or 9(b10(c) hereof is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to thereintherein (other than by virtue of the failure of an indemnified party to notify the indemnifying party of its right to indemnification pursuant to subsection (d) above, where such failure materially prejudices the indemnifying party (through the forfeiture of substantial rights or defenses)), then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entitiesindemnifying party or parties, on the one hand, and the Agentsindemnified party or parties, on the other hand, from the offering of the Shares or (ii) if the allocation provided by clause (i10(e)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i10(e)(i) above but also the relative fault of the Transaction Entitiesindemnifying party or parties, on the one hand, and of the Agentsindemnified party or parties, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entitiesindemnifying party or parties, on the one hand, and the Agentsindemnified party or parties, on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Selling Stockholders and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entitiesindemnifying party or parties, on the one hand, and the Agentsindemnified party or parties, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities a ZoomInfo Party, a Selling Stockholder or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 10 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth aggregate liability of each Selling Stockholder under the contribution agreement contained in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this paragraph and the indemnification agreement contained in this Section 9(d); provided, however, that no additional notice 10 shall be required with respect limited to any action for which notice has been given under section 9(d) hereof for purposes of indemnificationsuch Selling Stockholder’s Selling Stockholder Proceeds. (ef) The Transaction Entities ZoomInfo Parties, the Selling Stockholders and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 were 10 was determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)10(e) hereof. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d10(e) hereof shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 910, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such Agent in connection Underwriter with respect to the offering of the Shares exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 10 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. The aggregate liability of each Selling Stockholder under the indemnification and contribution agreements contained in this Section 10 shall be limited to such Selling Stockholder’s Selling Stockholder Proceeds. (fg) The indemnity and contribution provisions contained in this Section 9 10, the agreements regarding expense reimbursement and the representations andrepresentations, warranties and other statements made by or on behalf of the Transaction Entities any ZoomInfo Party or any Selling Stockholder contained in, or made pursuant to, in this Agreement or any certificate delivered pursuant hereto shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter or its director, officers or employees, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter, by or on behalf of the any ZoomInfo Party, the Company’s officers or directors or any person controlling the Company, or by or on behalf of any Transaction Entity or any of their respective officers or directors Selling Stockholder or any person controlling any Transaction Entity Selling Stockholder and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Underwriting Agreement (ZoomInfo Technologies Inc.), Underwriting Agreement (ZoomInfo Technologies Inc.)

Indemnity and Contribution. (a) Each of The Company and the Transaction EntitiesOperating Partnership, jointly and severally, agrees agree to indemnify and hold harmless each Agent▇▇▇▇▇ Fargo, its affiliates, directors, officers, members directors and employees officers and each person, if any, who controls any Agent ▇▇▇▇▇ Fargo within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any reasonable out of pocket legal or fees and other expenses reasonably incurred in connection with defending or investigating any such suit, action or claimproceeding or any claim asserted, as such fees and expenses are incurred) arising that arise out of of, or are based upon upon, (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein, not misleading or (ii) any untrue statement or alleged untrue statement of a material fact contained in the Prospectus (or any amendment or supplement thereto), any Permitted Free Writing Prospectus (or any amendment or supplement thereto) or caused by any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to ▇▇▇▇▇ Fargo furnished to the Agent InformationCompany in writing by or on behalf of ▇▇▇▇▇ Fargo expressly for use in the Registration Statement, the Prospectus (or any amendment or supplement thereto) or any Permitted Free Writing Prospectus (it being understood that such information consists solely of the information specified in Section 9(b)). (b) Each Agent agrees, severally and not jointly, ▇▇▇▇▇ Fargo agrees to indemnify and hold harmless the Company and the Operating Partnership and each Transaction Entity, of the Company’s directors, each of the Company’s officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or the Operating Partnership within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agentset forth in Section 9(a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statements statement or omissions, omission or alleged untrue statements statement or omissions, omission made in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to ▇▇▇▇▇ Fargo furnished to the Agent InformationCompany in writing by or on behalf of ▇▇▇▇▇ Fargo expressly for use in the Registration Statement, the Basic Prospectus, the Prospectus (or any amendment or supplement thereto), any Permitted Free Writing Prospectus, it being understood and agreed upon that such information shall consist solely of the following: ▇▇▇▇▇ Fargo’s name and the third sentence of the second paragraph, the third paragraph and the first and second sentence of the eighth paragraph under the heading “Plan of Distribution” in the Prospectus Supplement. (c) In case If any suit, action, proceeding (including any governmental or regulatory investigation) ), claim or demand shall be instituted involving brought or asserted against any person in respect of which indemnity indemnification may be sought pursuant to either Section 9(a) or 9(b)) above, such person (the “indemnified partyIndemnified Person”) shall promptly notify the person against whom such indemnity indemnification may be sought (the “indemnifying partyIndemnifying Person”) in writing and writing; provided that the indemnifying party failure to notify the Indemnifying Person shall be entitled to participate therein and, not relieve it from any liability that it may have under this Section 9 except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall electnot relieve it from any liability that it may have to an Indemnified Person otherwise than under this Section 9. In the case of parties indemnified pursuant to Section 9(a) above, jointly with any other indemnifying party similarly notifiedcounsel to the Indemnified Person shall be selected by ▇▇▇▇▇ Fargo, and, in the case of parties indemnified pursuant to assume Section 9(b) above, counsel to the Indemnified Person shall be selected by the Company. An Indemnifying Person may participate at its own expense in the defense thereofof any such action; provided, with however, that counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and Indemnifying Person shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection not (except with the defense thereof. In any such proceeding, any indemnified party shall have consent of the right to retain its own counsel, but the fees and expenses of such Indemnified Person) also be counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying partyIndemnified Person. It is understood and agreed that the indemnifying party Indemnifying Person shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings proceeding in the same jurisdiction, be liable for the reasonable fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties Indemnified Persons, and that all such reasonable fees and expenses shall be paid or reimbursed as they are incurred. If Any such separate firm for ▇▇▇▇▇ Fargo, its affiliates, directors and officers and any control persons of ▇▇▇▇▇ Fargo shall be designated in writing by ▇▇▇▇▇ Fargo and any such separate firm for the indemnifying party does not elect to assume Company, its directors, its officers who signed the defense, then such firm Registration Statement and any control persons of the Company shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party Indemnifying Person agrees to indemnify the indemnified party each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party Indemnifying Person shall, without the prior written consent of the indemnified partyIndemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party Indemnified Person is or could have been a party and indemnity indemnification could have been sought hereunder by such indemnified partyIndemnified Person, unless such settlement (x) includes an unconditional release of such indemnified partyIndemnified Person, in form and substance reasonably satisfactory to such indemnified partyIndemnified Person, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyIndemnified Person. If at any time an Indemnified Person shall have requested an Indemnifying Person to reimburse the Indemnified Person for fees and expenses of counsel, such Indemnifying Person agrees that it shall be liable for any settlement of the nature contemplated by this Section 9(c) effected without its written consent if (i) such settlement is entered into more than 45 days after receipt by such Indemnifying Person of the aforesaid request, (ii) such Indemnifying Person shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into and (iii) such Indemnifying Person shall not have reimbursed such Indemnified Person in accordance with such request prior to the date of such settlement. (d) To the extent If the indemnification provided for in Section Sections 9(a) or and 9(b) above is unavailable to an indemnified party Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party Indemnifying Person under such paragraphSections, in lieu of indemnifying such indemnified party Indemnified Person thereunder, shall contribute to the amount paid or payable by such indemnified party Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany and the Operating Partnership, on the one hand, and the Agents▇▇▇▇▇ Fargo, on the other handother, from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesCompany and the Operating Partnership, on the one hand, and of the Agents▇▇▇▇▇ Fargo, on the other handother, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesCompany and the Operating Partnership, on the one hand, and the Agents▇▇▇▇▇ Fargo, on the other handother, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the Operating Partnership from the sale of the Shares and the total underwriting discounts and commissions received by the Agents ▇▇▇▇▇ Fargo in connection with the offering of the Shares, therewith bear to the aggregate Gross Sales Price of the SharesPrice. The relative fault of the Transaction EntitiesCompany and the Operating Partnership, on the one hand, and the Agents▇▇▇▇▇ Fargo, on the other handother, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company and Operating Partnership, on the one hand, or by ▇▇▇▇▇ Fargo, on the Agents other, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company, the Operating Partnership and the Agents ▇▇▇▇▇ Fargo agree that it would not be just or and equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)) above. The amount paid or payable by an indemnified party Indemnified Person as a result of the losses, claims, damages and liabilities referred to in Section 9(d) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party Indemnified Person in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, in no Agent event shall ▇▇▇▇▇ Fargo be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such Agent in connection ▇▇▇▇▇ Fargo with respect to the offering of the Shares exceeds the amount of any damages that such Agent ▇▇▇▇▇ Fargo has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. . (f) The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party Indemnified Person at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 2 contracts

Sources: Distribution Agreement (DCT Industrial Trust Inc.), Distribution Agreement (DCT Industrial Trust Inc.)

Indemnity and Contribution. (a) Each of the Transaction EntitiesThe Sellers, jointly severally and severallynot jointly, agrees agree to indemnify and hold harmless each AgentUnderwriter, its affiliates, affiliates (within the meaning of Rule 405 under the Securities Act) and each of its and their respective directors, officers, members members, employees, representatives and employees agents and each person, if any, who controls any Agent within each Underwriter with the meaning of either Section 15 of the Securities Act or of Section 20 of the Exchange Act (eachcollectively, the “Underwriter Indemnified Parties,” and each an “Agent Underwriter Indemnified Party”) from and against any and all losses, claims, damages damages, expenses and liabilities (includingor any action, without limitationinvestigation or proceeding in respect thereof to which such Underwriter Indemnified Party may become subject, any legal under the Securities Act or other expenses reasonably incurred in connection with defending otherwise, insofar as such losses, claims, damages, expenses, liabilities, actions, investigations or investigating any such action or claim) arising proceedings arise out of or is based upon (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectusdocument incorporated therein, or arising out of in any other materials or based upon information provided to investors by, or with the approval of, the Company in connection with the offering, including, without limitation, in any “road show” (as defined in Rule 433 under the Securities Act) for the offering (the “Marketing Materials”), or (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages damages, expenses or liabilities actions, investigations or proceedings arise out of or are arising out or based upon any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with written information furnished to the Agent InformationCompany by any Underwriter expressly for use therein, which information the parties hereto agree is limited to the Underwriters’ Information (as defined in Section 17) and shall reimburse the Underwriter Indemnified Party promptly upon demand for any legal fees or other expenses reasonably incurred by that Underwriter Indemnified Party in connection with investigating, or preparing to defend, or defending against, or appearing as a third party witness in respect of, or otherwise incurred in connection with, any such loss, claim, damage, expense, liability, action, investigation or proceeding, as such fees and expenses are incurred; provided, however, that (i) the Selling Stockholder shall be liable only to the extent that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon information relating to the Selling Stockholder furnished to the Company in writing by the Selling Stockholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto and (ii) the Selling Stockholder shall not be liable for an amount greater than the amount of the aggregate Public Offering Price of all Shares sold by the Selling Stockholder under this Agreement. This indemnity agreement is not exclusive and will be in addition to any liability, which the Sellers might otherwise have and shall not limit any rights or remedies which may otherwise be available at law or in equity to each Underwriter Indemnified Party. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Company, the directors of the Company’s directors, the Selling Stockholder, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or the Selling Stockholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (collectively, the “Seller Indemnified Parties” and each a “Seller Indemnified Party”) from and against any and all losses, claims, damages, expenses and liabilities (or any action, investigation or proceeding in respect thereof) to which such Seller Indemnified Party may become subject under the same extent Securities Act or otherwise, insofar as the foregoing indemnity from the Transaction Entities to such Agentloss, but only with respect to claim, damage, expense, liability, action, investigation or proceeding arises out of or is based upon (i) any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or the Prospectus (as amended or supplemented), (ii) any amendment omission or supplement thereto alleged omission to state therein a material fact required to be stated therein or any Permitted Free Writing Prospectusnecessary to make the statements therein not misleading, but only in each case (i) and (ii) to the extent that the untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information furnished to the Agent InformationSellers by the Underwriters specifically for use therein, which information the parties hereto agree is limited to the Underwriters’ Information (as defined in Section 17) and to reimburse the Seller Indemnified Party for any legal or other expenses reasonably incurred by such party in connection with investigating or preparing to defend or defending against or appearing as third party witness in connection with any such loss, claim, damage, liability, action, investigation or proceeding, as such fees and expenses are incurred. Notwithstanding the provisions of this Section 10(b), in no event shall any indemnity by an Underwriter under this Section 10(b) exceed the total compensation received by such Underwriter in accordance with Section 2. (c) In case Promptly after receipt by an indemnified party under this Section 10 of notice of the commencement of any proceeding (including action, the indemnified party shall, if a claim in respect thereof is to be made against an indemnifying party under this Section 10, notify such indemnifying party in writing of the commencement of that action; provided, however, that the failure to notify the indemnifying party shall not relieve it from any governmental investigation) liability which it may have under this Section 10 except to the extent it has been materially prejudiced by such failure; and, provided, further, that the failure to notify an indemnifying party shall not relieve it from any liability which it may have to an indemnified party otherwise than under this Section 10. If any such action shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or 9(b), such person (the “brought against an indemnified party”) , and it shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and party thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it shall electwishes, jointly with any other similarly notified indemnifying party similarly notifiedparty, to assume the defense thereof, of such action with counsel reasonably satisfactory to the indemnified party to represent (which counsel shall not, except with the written consent of the indemnified party and any others party, be counsel to the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceedingparty). After notice from the indemnifying party to such the indemnified party of its election so to assume the defense thereof of such action, except as provided herein, the indemnifying party shall not be liable to the indemnified party under such subsection Section 10 for any legal expenses of other counsel or any other expenses subsequently incurred by such the indemnified party in connection with the defense thereof. In any of such proceedingaction other than reasonable costs of investigation; provided, however, that any indemnified party shall have the right to retain its own counsel, employ separate counsel in any such action and to participate in the defense of such action but the fees and expenses of such counsel (other than reasonable costs of investigation) shall be at the expense of such indemnified party unless (i) the indemnifying party and employment thereof has been specifically authorized in writing by the Sellers in the case of a claim for indemnification under Section 10(a) or the Managers in the case of a claim for indemnification under Section 10(b), (ii) such indemnified party shall have mutually agreed been advised by its counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the retention of such counselindemnifying party, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain assume the defense of such action and employ counsel reasonably satisfactory to the indemnified party within a reasonable period of time after notice of the commencement of the action or (iv) the indemnifying party does not diligently defend the action after assumption of the defense, in which case, if such indemnified party shall have reasonably concluded notifies the indemnifying party in writing that there may be legal defenses available it elects to it that are different from or in addition to those available to employ separate counsel at the expense of the indemnifying party. It is understood , the indemnifying party shall not have the right to assume the defense of (or, in the case of a failure to diligently defend the action after assumption of the defense, to continue to defend) such action on behalf of such indemnified party and the indemnifying party shall be responsible for legal or other expenses subsequently incurred by such indemnified party in connection with the defense of such action; provided, however, that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding one such action or separate but substantially similar or related proceedings actions in the same jurisdictionjurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees and expenses of more than one separate firm (in addition to one local counsel) of attorneys at any time for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect (in addition to assume the defenseany local counsel), then such which firm shall be designated in writing by the Agents, in Managers if the case indemnified parties under this Section 10 consist of parties indemnified pursuant to Section 9(a), and any Underwriter Indemnified Party or by the Company in if the case of indemnified parties indemnified pursuant to under this Section 9(b). The indemnifying party shall not be liable for any settlement 10 consist of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiffSeller Indemnified Parties. Subject to this Section 10(c), the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability amount payable by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for under Section 10 shall include, but not be limited to, (x) reasonable legal fees and expenses of counsel to the indemnified party and any other expenses in investigating, or preparing to defend or defending against, or appearing as contemplated by the second a third party witness in respect of, or otherwise incurred in connection with, any action, investigation, proceeding or claim, and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any (y) all amounts paid in settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered intoforegoing. No indemnifying party shall, without the prior written consent of the indemnified partyparties, effect any settlement settle or compromise or consent to the entry of judgment with respect to any pending or threatened proceeding action or any claim whatsoever, in respect of which any indemnification or contribution could be sought under this Section 10 (whether or not the indemnified party is parties are actual or could have been a party and indemnity could have been sought hereunder by such indemnified partypotential parties thereto), unless such settlement settlement, compromise or consent (xi) includes an unconditional release of such each indemnified party, party in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter arising out of such proceeding action or claim and (yii) does not include any a statement as to or any an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. Subject to the provisions of the following sentence, no indemnifying party shall be liable for (or be required to make a contribution related thereto under Section 10(d)) settlement of any pending or threatened action or any claim whatsoever that is effected without its written consent (which consent shall not be unreasonably withheld or delayed), but if settled with its written consent, if its consent has been unreasonably withheld or delayed or if there be a judgment for the plaintiff in any such matter, the indemnifying party agrees to indemnify and hold harmless any indemnified party from and against any loss or liability by reason of such settlement or judgment. In addition, if at any time an indemnified party shall have requested that an indemnifying party reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated herein effected without its written consent if (i) such settlement is entered into more than forty-five (45) days after receipt by such indemnifying party of the request for reimbursement, (ii) such indemnifying party shall have received notice of the terms of such settlement at least thirty (30) days prior to such settlement being entered into and (iii) such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement. (d) To the extent If the indemnification provided for in Section 9(a10(a) or 9(b10(b) is unavailable or insufficient to hold harmless an indemnified party under Section 10(a) or insufficient in respect of any losses, claims, damages or liabilities referred to thereinSection 10(b), then each indemnifying party under such paragraphsection shall, in lieu of indemnifying such indemnified party thereunderparty, shall contribute to the amount paid paid, payable or payable otherwise incurred by such indemnified party as a result of such lossesloss, claimsclaim, damages damage, expense or liabilities liability (or any action, investigation or proceeding in respect thereof), as incurred, (i) in such proportion as is shall be appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares Shares, or (ii) if the allocation provided by clause (i) above of this Section 10(d) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above of this Section 10(d) but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other handwith respect to the statements, in connection with the statements omissions, acts or omissions that failures to act which resulted in such lossesloss, claimsclaim, damages damage, expense or liabilitiesliability (or any action, investigation or proceeding in respect thereof) as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Sellers on the one hand, hand and the Agents, Underwriters on the other hand, in connection with respect to the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Sellers and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Sellers on the one hand, hand and the Agents, Underwriters on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Sellers on the one hand or by the Agents Underwriters on the other, the intent of the parties and the parties’ their relative intent, knowledge, access to information and opportunity to correct or prevent such statement untrue statement, omission, act or omission. The Agents’ respective obligations failure to contribute pursuant to this Section 9 are several in proportion act; provided that (y) the Selling Stockholder shall be liable only to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities and the Agents agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages extent that such Agent has otherwise been required to pay by reason of such untrue statement or alleged untrue statement or omission or alleged omission. No person guilty omission was made in reliance upon information relating to the Selling Stockholder furnished to the Company in writing by the Selling Stockholder expressly for use in the Registration Statement, the Time of fraudulent misrepresentation Sale Prospectus, the Prospectus or any amendments or supplements thereto, and (within z) the meaning of Section 11(f) parties hereto agree that the written information furnished to the Sellers by the Underwriters for use in the Preliminary Prospectus, any Registration Statement or the Prospectus, or in any amendment or supplement thereto, consists solely of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentationUnderwriters’ Information as defined in Section 17. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 Sellers and the representations and, warranties of the Transaction Entities contained in, or made Underwriters’ agree that it would not be just and equitable if contributions pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.this

Appears in 1 contract

Sources: Underwriting Agreement (Regulus Therapeutics Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees officers and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter participating in the offering within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the information described as such in paragraph (c) below. The Company agrees and confirms that references to “affiliates” of ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ that appear in this Agreement shall be understood to include Mitsubishi UFJ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Securities Co., Ltd. (b) [The Selling Shareholders, jointly and severally, agree to indemnify and hold harmless each Underwriter against any losses, claims, damages or liabilities, joint or several, to which such Underwriter may become subject, under the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in the Registration Statement Statement, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, or any amendment thereofor supplement thereto, any Testing-the-Waters Communication or any Issuer Free Writing Prospectus, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in the Registration Statement, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, or any amendment or supplement thereto, any Testing-the-Waters Communication, any Issuer Free Writing Prospectus or the Prospectus or any Permitted Free Writing Prospectus, amendment or supplement thereto in reliance upon and in conformity with any Selling Shareholder Information furnished to the Agent Information. Company in writing by such Selling Shareholder expressly for the use therein; and will reimburse each Underwriter for any legal or other expenses reasonably incurred by such Underwriter in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however, that the liability of each Selling Shareholder pursuant to this subsection (b) shall not exceed the proceeds (net of any underwriting discounts and commissions but before deducting expenses) from the sale of the Shares sold by such Selling Shareholder hereunder.] (c) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Company, the Selling Shareholders, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or any Selling Shareholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriters, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or any amendment thereof, the Prospectus or any amendment or supplement thereto or thereto, it being understood and agreed that the only such information furnished by any Permitted Free Writing Underwriter through the Representatives consists of the following information under the caption “Underwriters” in the Time of Sale Prospectus and the Prospectus: [the concession and reallowance figures in the [•] paragraph, the information regarding sales to discretionary accounts in reliance upon the [•] paragraph, the information regarding stabilization and short positions in conformity with the Agent [•] paragraph and the information regarding internet distributions in the [•] paragraph (the “Underwriter Information”)]. (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a11(a), 11(b) or 9(b11(c), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonable and documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the i)the indemnifying party and the indemnified party shall have mutually agreed in writing to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party them or (iv) the indemnified one party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the other party or (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section and (iii) the fees and expenses of more than one separate firm (in addition to any local counsel) for all Selling Shareholders and all persons, if any, who control any Selling Shareholder within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons and affiliates of any Underwriters, then such firm shall be designated in writing by the Agents, in Representatives. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in Company. [In the case of parties indemnified pursuant to Section 9(b). any such separate firm for the Selling Shareholders and such control persons of any Selling Shareholders, such firm shall be designated in writing by the persons named as attorneys-in-fact for the Selling Shareholders under the Powers of Attorney.] The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (xi) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (yii) does not include any a statement as to or any an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (de) To the extent the indemnification provided for in Section 9(a11(a), 11(b) or 9(b11(c) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in i)in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if ii)if the allocation provided by clause (i11(e)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i11(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by [the Transaction Entities, Company] [the Sellers] on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by [the Transaction Entities Company] [each Seller] and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of [the Transaction Entities, Company] [the Sellers] on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Sellers or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 11 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (ef) The Transaction Entities Sellers and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 11 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d11(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d11(e) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 911, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 11 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fg) The indemnity and contribution provisions contained in this Section 9 11 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company and the Selling Shareholders contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any i)any termination of this Agreement, (ii) any ii)any investigation made by or on behalf of any AgentUnderwriter, the directors, officers, employees and agents of each Underwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter, by or on behalf of any Selling Shareholder or any person controlling any Selling Shareholder, or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance iii)acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Integral Ad Science Holding LLC)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim, but excluding loss of profits and other consequential damages) (collectively, “Damages”) arising out of any misrepresentation or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectusprospectus (including the Canadian Preliminary Prospectus), the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any marketing materials, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show (which, for purposes of this Section 8, has the meaning ascribed to it in Rule 433(h) under the Securities Act and under NI-41-101), or the Prospectuses or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising out of any misrepresentation or based upon any omission or alleged misrepresentation or omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities Damages are arising out or based upon of any such misrepresentation or untrue statement or omission or alleged misrepresentation or untrue statement or omission based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through you expressly for use therein, it being understood and agreed that the only such information furnished by any Underwriter consists of the information described as such in paragraph (b) below. The rights of indemnity contained in this paragraph will not inure to the benefit of an indemnified party in respect of a claim other than a claim made in under U.S. securities laws if the Registration Statement person asserting the claim was not provided by or on behalf of the Underwriters with a copy furnished promptly by the Company of any Prospectus or any amendment thereof, or supplement thereto which would have corrected any misrepresentation which is the Prospectus basis of the claim and which was required under Canadian Securities Laws to be delivered to that person by the Underwriters. This indemnity will not apply to any Damages to the extent it is finally determined by a court or arbitral tribunal that such Damages resulted primarily and directly from the gross negligence or willful misconduct of the Underwriters or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationother indemnified party. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Company, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through you expressly for use in the Registration Statement or Statement, any amendment thereofpreliminary prospectus (including the Canadian Preliminary Prospectus), the Prospectus Time of Sale Prospectus, any issuer free writing prospectus, marketing materials, road show, or the Prospectuses or any amendment or supplement thereto or thereto, it being understood and agreed that the only such information furnished by any Permitted Free Writing Underwriter consists of the following information in the Prospectuses furnished on behalf of each Underwriter: the information contained in the eleventh through fourteenth paragraphs under the caption “Plan of Distribution” in the Time of Sale Prospectus and the U.S. Final Prospectus, in reliance upon and in conformity with the Agent Information. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to retain counsel chosen by the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel and reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred and documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, ; or (ii) the indemnifying party has failed within a reasonable time to retain counsel for the indemnified party in accordance with the preceding sentence; or (iii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) in which case the indemnifying party has failed within a reasonable time to retain reasonably incurred and documented fees of counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to paid by the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel, which shall include counsel in each of the United States and Canada in the case of a matter involving U.S. and Canadian law) for all such indemnified parties Underwriters and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act and (ii) the fees and expenses of more than one separate firm (in addition to any local counsel, which shall include counsel in each of the United States and Canada in the case of a matter involving U.S. and Canadian law) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons and affiliates of any Underwriters, then such firm shall be designated in writing by the Agents, Managers authorized to appoint counsel under this Section set forth in Schedule I hereto. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for reasonably incurred and documented fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 60 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless (i) such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (yii) does not include any a statement as to to, or any an admission of of, fault, culpability or a failure to act by or on behalf of any an indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities Damages referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities Damages (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares Offering or (ii) if the allocation provided by clause (i10(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i10(d)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as Damages and any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares Offering shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares Offering (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents in connection with the offering of the Shares, Underwriters bear to the aggregate Gross Sales Price offering price of the SharesOffered Units set forth in the U.S. Final Prospectus. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the misrepresentation or untrue statement of a material fact or alleged misrepresentation or untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such misrepresentation, statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Offered Units they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities Damages referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts price at which the Offered Units underwritten by it and commissions received by such Agent in connection with distributed to the offering of public were offered to the Shares public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such misrepresentation or untrue statement or alleged misrepresentation or untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, ; (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company; and (iii) any acceptance of and payment for any of the SharesOffered Units. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Hut 8 Mining Corp.)

Indemnity and Contribution. (a) Each of The Company and the Transaction EntitiesOperating Partnership, jointly and severally, agrees agree to indemnify and hold harmless each AgentUnderwriter, its affiliateseach Forward Purchaser and each Forward Seller , their respective directors, their officers, members and employees and each person, if any, who controls any Agent such Underwriter, such Forward Purchaser or such Forward Seller within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate thereof within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising out of or based upon caused by any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities are arising out or based upon caused by any such untrue statement or omission or alleged untrue statement or omission made based upon the Counterparty Information relating to any Underwriter furnished to the Company in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationwriting by such Underwriter through you expressly for use therein. (b) Each Agent agreesUnderwriter severally, severally and not jointly, agrees to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed the Registration Statement Statement, the Operating Partnership and each person, if any, who controls either of the Transaction Entities Company and the Operating Partnership within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company and the Operating Partnership to such Agentthe Underwriters, the Forward Purchasers and the Forward Sellers, but only with respect reference to untrue statements the Counterparty Information relating to an Underwriter furnished to the Company in writing by or omissions, or alleged untrue statements or omissions, made on behalf of such Underwriter expressly for use in the Registration Statement or Statement, any amendment thereofpreliminary prospectus, the Prospectus Time of Sale Prospectus, the Prospectus, any issuer free writing prospectus that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationthereto. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or Section 9(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing writing, and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such separate firm shall be designated in writing by the AgentsUnderwriters, in the case of parties indemnified pursuant to Section 9(a), and by the Company or the Operating Partnership, in the case of parties indemnified pursuant to Section 9(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (xi) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (yii) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a) or Section 9(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany and the Operating Partnership, on the one hand, and the AgentsUnderwriters, the Forward Purchasers and the Forward Sellers, on the other hand, from the offering of the Shares or (ii) if the allocation provided by clause (iSection 9(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (iSection 9(d)(i) above but also the relative fault of the Transaction EntitiesCompany and the Operating Partnership, on the one hand, and of the AgentsUnderwriters, the Forward Purchasers and the Forward Sellers, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesCompany and the Operating Partnership, on the one hand, and the AgentsUnderwriters, the Forward Purchasers and the Forward Sellers, on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as (x) in the total case of the Company and the Operating Partnership, the net proceeds from the offering of the Shares (including the proceeds to be received by the Company pursuant to the Forward Sale Agreements, assuming Physical Settlement (as defined in the Forward Sale Agreements) of the Forward Sale Agreements) (before deducting expenses) received by the Transaction Entities Company and the Operating Partnership, (y) in the case of the Underwriters, the total underwriting discounts and commissions received by the Agents Underwriters, and (z) in connection with the offering case of the Shares, bear to the aggregate Gross Sales Price of the Shares. The relative fault of the Transaction Entities, on the one hand, Forward Purchasers and the AgentsForward Sellers, on the other handSpread (as defined in the Forward Sale Agreements) retained by the Forward Purchasers under the Forward Sale Agreements, shall be net of any costs associated therewith, as reasonably determined by reference tothe Forward Purchasers, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities or by the Agents and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions as set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities and the Agents agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.the

Appears in 1 contract

Sources: Underwriting Agreement (Spirit Realty Capital, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentManager, its affiliates, directors, each Manager’s directors and officers, members and employees and each person, if any, who controls any Agent Manager within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of any Manager within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereofStatement, any preliminary prospectusthe Prospectus, the Prospectus Supplement (including any Interim Prospectus Supplement), the General Disclosure Package, any free writing prospectus that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or any amendment or supplement thereto or any Permitted Free Writing Prospectusarise out of, or arising out of or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Manager furnished to the Agent InformationCompany in writing by any Manager expressly for use therein, it being understood and agreed that the only such information furnished by the Managers consists of the information described as such in paragraph (b) below. (b) Each Agent agreesManager, severally and not jointly, agrees to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentManager, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Manager that is furnished to the Company in writing by such Manager expressly for use in the Registration Statement or any amendment thereofStatement, the Prospectus, the Prospectus Supplement (including any Interim Prospectus Supplement), the General Disclosure Package, any free writing prospectus that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or any amendment or supplement thereto or any Permitted Free Writing Prospectus, thereto. The Company hereby acknowledges that the only information that the Managers have furnished to the Company expressly for use in reliance upon the Prospectus Supplement is (i) the legal and marketing names of the Managers as included on the front cover page and back cover page of the Prospectus Supplement and (ii) the last sentence in conformity with the Agent Informationsecond paragraph of the “Plan of Distribution” section in the Prospectus Supplement. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing writing, and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person, (ii) the indemnifying party and the indemnified party shall have mutually agreed in writing to the retention of such counsel, counsel or (iiiii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsManagers, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) such settlement includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyIndemnified Person. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable or insufficient to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany, on the one hand, and the AgentsManagers, on the other hand, from the offering of the Shares or (ii) if the allocation provided by clause (iSection 8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (iSection 8(d)(i) above but also the relative fault of the Transaction EntitiesCompany, on the one hand, and of the AgentsManagers, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesCompany, on the one hand, and the AgentsManagers, on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and Company bear to the total discounts and commissions received by the Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price of the SharesManagers. The relative fault of the Transaction EntitiesCompany, on the one hand, and the AgentsManagers, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Managers and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Managers agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)8(d) provided that the applicable Managers’ obligations to contribute under this Section 8(e) shall be several and not joint. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Manager shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares sold by it were offered to the public exceeds the amount of any damages that such Agent Manager has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentManager, Manager’s directors and officers, any person controlling any Agent Manager or any affiliate of any Agent Manager or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Equity Distribution Agreement (New Senior Investment Group Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, directors and officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the information described as such in paragraph (b) below. (b) Each Agent Selling Shareholder agrees, severally and not jointly, to indemnify and hold harmless each Transaction EntityUnderwriter, its directors and officers, each person, if any, who controls any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, the Prospectus or any amendment or supplement thereto, or any Testing-the-Waters Communication or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to such Selling Shareholder furnished in writing by or on behalf of such Selling Shareholder expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or the Prospectus or any amendment or supplement thereto. The liability of each Selling Shareholder under the indemnity agreement contained in this paragraph shall be limited to an amount equal to the aggregate Purchase Price of the Shares sold by such Selling Shareholder under this Agreement. (c) Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company’s directors, the Selling Shareholders, the directors and officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Sellers to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement or Statement, any amendment thereofpreliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, any Testing-the-Waters Communication, road show or the Prospectus (or any amendment or supplement thereto or thereto), it being understood and agreed upon that the only such information furnished by any Permitted Free Writing Prospectus, Underwriter consists of the following information in reliance upon and in conformity with the Agent InformationProspectus furnished on behalf of each Underwriter: the sixteenth paragraph relating to stabilization under the caption “Underwriting. (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a10(a), 10(b) or 9(b10(c), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party party; or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives, in the case of parties indemnified pursuant to Section 9(a10(a) or 10(b), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b10(c). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (de) To the extent the indemnification provided for in Section 9(a10(a), 10(b) or 9(b10(c) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or party on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i10(e)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i10(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Sellers on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities each Sellers and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Sellers on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Sellers or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 10 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth liability of each Selling Shareholder under the contribution agreement contained in Section 9(c) hereof with respect this paragraph shall be limited to notice an amount equal to the aggregate Public Offering Price of commencement of any action shall apply if a claim for contribution is to be made the Shares sold by such Selling Shareholder under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnificationAgreement. (ef) The Transaction Entities Sellers and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 10 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d10(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d10(e) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 910, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 10 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fg) The indemnity and contribution provisions contained in this Section 9 10 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company and the Selling Shareholders contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter, by or on behalf of any Selling Shareholder or any person controlling any Selling Shareholder, or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (P10, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, the directors, officers, members employees and employees selling agents of each Underwriter, and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of each Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or the Prospectus or any amendment or supplement thereto, or arise out of or are based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of or are based upon any such untrue statement or omission or alleged untrue statement or omission based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through you expressly for use therein. (b) The Selling Stockholder agrees to indemnify and hold harmless each Underwriter, the directors, officers, employees and selling agents of each Underwriter, and each person, if any, who controls any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of each Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or the Prospectus or any amendment or supplement thereto, or arise out of or are based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent (and only to the extent) that such untrue statement or omission or alleged untrue statement or omission was made in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus, or the Prospectus or any amendment or supplement thereto in reliance upon and in conformity with information furnished to the Company for use therein; and except insofar as such losses, claims, damages or liabilities arise out of or are based upon any such untrue statement or omission or alleged untrue statement or omission based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through you expressly for use therein. The liability of the Selling Stockholder under the indemnity agreement contained in this paragraph shall be limited to an amount equal to the net proceeds received by the Selling Stockholder from the sale of its Shares under this Agreement. (c) Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company, the Selling Stockholder, the directors of the Company, the officers of the Company who sign the Registration Statement and each person, if any, who controls the Company or the Selling Stockholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act from and against any and all losses, claims, damages and liabilities (eachincluding, an without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or the Prospectus or any amendment or supplement thereto, or arise out of or are based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to such Underwriter furnished to the Company in writing by such Underwriter through you expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, or the Prospectus or any amendment or supplement thereto. (d) The Company agrees to indemnify and hold harmless ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, each person, if any, who controls ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act and each affiliate of ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ within the meaning of Rule 405 of the Securities Act (Agent Indemnified Party▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Entities”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising out of or based upon (i) caused by any untrue statement or alleged untrue statement of a material fact contained in any material prepared by or with the Registration Statement consent of the Company for distribution to Participants in connection with the Directed Share Program or any amendment thereof, any preliminary prospectus, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading; (ii) caused by the failure of any Participant to pay for and accept delivery of Directed Shares that the Participant agreed to purchase; or (iii) related to, except insofar as such arising out of, or in connection with the Directed Share Program, other than losses, claims, damages or liabilities (or expenses relating thereto) that are arising out finally judicially determined to have resulted from the bad faith or based upon any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationgross negligence of ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Entities. (b) Each Agent agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s directors, officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agent, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Information. (ce) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a11(a), 11(b), 11(c) or 9(b11(d), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Entities, Underwriters, directors, officers, employees and selling agents of each Underwriter, and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section and (iii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Selling Stockholder and all persons, if any, who control the Selling Stockholder within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of (i) any such separate firm for the defense▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Entities, then the Underwriters, the directors, officers, employees and selling agents of each Underwriter, and such control persons and affiliates of any Underwriters, such firm shall in each case be designated in writing by the Managers. In the case of any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Agents, in Company. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Selling Stockholder and such control persons of the Selling Stockholder, and such firm shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)Selling Stockholder. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 45 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (xi) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (yii) does not include any a statement as to or any an admission of fault, culpability or a failure to act act, by or on behalf of any indemnified party. (df) To the extent the indemnification provided for in Section 9(a11(a), 11(b), 11(c) or 9(b11(d) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares (or the Directed Shares where the indemnified party is a ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Entity), or (ii) if the allocation provided by clause (i11(f)(i) above is not permitted by applicable law, or if the indemnified party failed to give the notice required under clause 11(e) above, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i11(f)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by (A) each of the Transaction Entities, Sellers on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities each Seller and the total underwriting discounts and commissions received by the Agents Underwriters, in each case as set forth in the table on the cover of the Prospectus, bear to the aggregate Public Offering Price of the Shares and (B) the Company on the one hand and the ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Entities on the other hand in connection with the offering of the Directed Shares shall be deemed to be in the same respective proportions as the net proceeds from the offering of the Directed Shares (before deducting expenses) and the total underwriting discounts and commissions received by the ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Entities for the Directed Shares, bear to the aggregate Gross Sales Public Offering Price of the Directed Shares. The relative fault of (A) each of the Transaction Entities, Sellers on the one hand, hand and the Agents, Underwriters on the other hand or (B) the Company on the one hand and the ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Entities on the other hand, as applicable, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company, the Selling Stockholder or by the Agents Underwriters or the ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Entities and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 11 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth liability of the Selling Stockholder under the contribution agreement contained in Section 9(c) hereof with respect this paragraph shall be limited to notice an amount equal to the aggregate Public Offering Price of commencement of any action shall apply if a claim for contribution is to be made the Shares sold by the Selling Stockholder under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnificationAgreement. (eg) (i) The Transaction Entities Sellers and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 11 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d11(f) and (ii) the Company and the ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Entities agree that it would not be just or equitable if contribution pursuant to this Section 11 were determined by pro rata allocation (even if the ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Entities were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 11(f). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d11(f) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.suc

Appears in 1 contract

Sources: Underwriting Agreement (ING U.S., Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachand each affiliate, an “Agent Indemnified Party”) director and officer of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal fees or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising ), joint or several, that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectusPreliminary Prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show as defined in Rule 433(h) under the Securities Act (a “road show”), or the Prospectus or any amendment or supplement thereto thereto, joint or several, that arise out of, or are based upon, (i) in the case of any Preliminary Prospectus, the Time of Sale Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or arising out is required to file, pursuant to Rule 433(d) under the Securities Act, any Testing-the-Waters Communication or any road show, any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, and (ii) in the case of the Registration Statement or based upon any amendment thereof, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities are arising out or based upon caused by any such untrue statement or omission or alleged untrue statement or omission based upon any Underwriter Information. (b) Each of the Selling Stockholders severally in proportion to the number of Shares to be sold by such Selling Stockholder hereunder agrees to indemnify and hold harmless each Underwriter, its affiliates, directors and officers and each person, if any, who controls such Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in clause (a) above, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any Selling Stockholder Information provided by such Selling Stockholder, and in each case except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through the Representatives expressly for use in the Registration Statement, any Preliminary Prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any Testing-the-Waters Communication or any road show, it being understood and agreed that the only such information furnished by any Underwriter consists of the Underwriter Information described as such in Section 10(c) hereof; provided, further, that any liability of such Selling Stockholder under this subsection (b) shall in no event exceed an amount equal to the net proceeds (exclusive of expenses) received by such Selling Stockholder from the sale of the Shares by such Selling Stockholder pursuant to this Agreement. (bc) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act and each Selling Stockholder and each person, if any, who controls any Selling Stockholder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, but, in each case, to the same extent as the foregoing indemnity from the Transaction Entities to such Agentas set forth in clause (a) above, but only with respect reference to untrue statements information relating to such Underwriter furnished to the Company in writing by or omissions, on behalf of such Underwriter or alleged untrue statements or omissions, made through the Representatives expressly for use in the Registration Statement Statement, any Preliminary Prospectus, the Time of Sale Prospectus, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any amendment thereof, road show or the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectusthereto, it being understood and agreed that the only such information consists of the second sentence of the seventh paragraph, the second sentence of the eighth paragraph and the first, second, third, fourth, fifth, sixth, seventh, eighth, ninth, tenth and eleventh sentences of the fifteenth paragraph in reliance upon and in conformity with the Agent Time of Sale Prospectus under the heading “Underwriting (Conflicts of Interest)” (collectively, such information, the “Underwriter Information”). (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a10(a), 10(b) or 9(b10(c), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred and documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a) or 9(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction Entities, on the one hand, and of the Agents, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and the total discounts and commissions received by the Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price of the Shares. The relative fault of the Transaction Entities, on the one hand, and the Agents, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities or by the Agents and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities and the Agents agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.as

Appears in 1 contract

Sources: Underwriting Agreement (ADT Inc.)

Indemnity and Contribution. (ai) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the information described as such in paragraph (b) below. The liability of the Selling Stockholder under the indemnity agreement contained in this paragraph shall be limited to an amount equal to the aggregate Public Offering Price of the Shares sold by the Selling Stockholder under this Agreement. (ii) The Selling Stockholder agrees to indemnify and hold harmless each Underwriter, each person, if any, who controls any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or any Testing-the-Waters Communication or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with respect to any losses, claims, damages or liabilities arise out of, or are based upon, any such untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with the Agent Selling Stockholder Information. The liability of the Selling Stockholder under the indemnity agreement contained in this paragraph 11(a)(ii) shall be limited to an amount equal to the aggregate Public Offering Price of the Shares sold by the Selling Stockholder under this Agreement. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Company, the Selling Stockholder, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or the Selling Stockholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such Agentaction or claim) that arise out of, but only with respect to or are based upon, any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto or the Prospectus or any Permitted Free Writing amendment or supplement thereto, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus or the Prospectus or any amendment or supplement thereto, it being understood and agreed that the only such information furnished by any Underwriter through the Representatives consists of the following information under the caption “Underwriting” in the Time of Sale Prospectus and the Prospectus: the concession and reallowance figures in the [•] paragraph, the information regarding sales to discretionary accounts in reliance upon the [•] paragraph, the information regarding stabilization and short positions in conformity with the Agent Information[•] paragraph and the information regarding internet distributions in the [•] paragraph. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a11(a), 11(b) or 9(b11(c), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section and (iii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Selling Stockholder and all persons, if any, who control the Selling Stockholder within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons and affiliates of any Underwriters, then such firm shall be designated in writing by the Agents, in Representatives. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in Company. In the case of parties indemnified pursuant to Section 9(b)any such separate firm for the Selling Stockholder and such control persons of the Selling Stockholder, such firm shall be designated in writing by the Selling Stockholder. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyproceeding. (d) To the extent the indemnification provided for in Section 9(a11(a), 11(b) or 9(b11(c) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i11(e)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i11(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Sellers on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities each Seller and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Sellers on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Sellers or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 11 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth liability of the Selling Stockholder under the contribution agreement contained in Section 9(c) hereof with respect this paragraph shall be limited to notice an amount equal to the aggregate Public Offering Price of commencement of any action shall apply if a claim for contribution is to be made the Shares sold by the Selling Stockholder under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnificationAgreement. (e) The Transaction Entities Sellers and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 11 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d11(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d11(e) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 911, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 11 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 11 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company and the Selling Stockholder contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter, by or on behalf of the Selling Stockholder or any person controlling the Selling Stockholder, or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Paya Holdings Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each Agentthe Manager, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent the Manager within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of the Manager within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectusStatement, the Prospectus and the Prospectus Supplement (including any Interim Prospectus Supplement) that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or any amendment or supplement thereto thereto, any road show, or any Permitted Free Writing ProspectusTesting-the Waters Communication, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationany Manager Information (as defined below). (b) Each Agent agrees, severally and not jointly, The Manager agrees to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such Agentaction or claim) that arise out of, but only with respect to or are based upon, any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Information. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or 9(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a) or 9(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction Entities, on the one hand, and of the Agents, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and the total discounts and commissions received by the Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price of the Shares. The relative fault of the Transaction Entities, on the one hand, and the Agents, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities or by the Agents and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities and the Agents agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.preliminary

Appears in 1 contract

Sources: Equity Distribution Agreement (Nikola Corp)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachand each director, an “Agent Indemnified Party”) officer or affiliate of each Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred and documented in connection with defending or investigating any such action or claim) arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show as defined in Rule 433(h) under the Securities Act (a “road show”), or the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising out of or based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading (in the case of any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, or the Prospectus or any amendment or supplement thereto, in the light of the circumstances under which they were made), except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Underwriter Furnished Information. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made Underwriter Furnished Information in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any road show or the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationthereto. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred and documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the reasonably incurred and documented fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the reasonably incurred and documented fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable reasonably incurred and documented fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any a statement as to to, or any an admission of of, fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction EntitiesCompany, on the one hand, and of the AgentsUnderwriters, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any director, officer or affiliate of any Agent Underwriter or by or by, on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (TransMedics Group, Inc.)

Indemnity and Contribution. (a1) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify indemnify, defend and hold harmless each AgentUnderwriter, its affiliatespartners, directors, directors and officers, members and employees and each person, if any, any person who controls any Agent Underwriter within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act, each affiliate of any Underwriter within the meaning of Rule 405 under the Act (eachthat is involved in the Offering, an “Agent Indemnified Party”) and the successors and assigns of all of the foregoing persons, from and against any and all lossesloss, claimsdamage, damages and liabilities expense, liability or claim (including, without limitation, including the reasonable cost of any legal or other expenses reasonably investigation incurred in connection with defending therewith) which, jointly or investigating severally, any such action Underwriter or claim) arising any such person may incur under the Act, the Exchange Act, the common law or otherwise, insofar as such loss, damage, expense, liability or claim arises out of or is based upon (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or in the Registration Statement as amended by any post-effective amendment thereofthereof by the Company), the Pricing Prospectus together with the Pricing Information, any preliminary prospectusRoad Show Materials, any Additional Disclosure Item or the Prospectus (as amended or any amendment or supplement thereto or any Permitted Free Writing Prospectussupplemented by the Company), or arising out of or based upon any omission or alleged omission to state therein a material fact required to be stated therein in either the Registration Statement, the Pricing Prospectus together with the Pricing Information, any Road Show Materials or the Prospectus or necessary to make the statements made therein not misleading, except insofar as any such lossesloss, claimsdamage, damages expense, liability or liabilities are claim arises out of or is based upon any untrue statement or alleged untrue statement of a material fact contained in and in conformity with information concerning such Underwriter furnished in writing by or on behalf of such Underwriter through you to the Company expressly for use in the Registration Statement, the Pricing Prospectus together with the Pricing Information, any Road Show Materials, any Additional Disclosure Item or the Prospectus or arising out of or based upon any omission or alleged omission to state a material fact in connection with such information required to be stated in the Registration Statement, the Pricing Prospectus together with the Pricing Information, any Road Show Materials or the Prospectus or necessary to make such information not misleading or (ii) any untrue statement or omission or alleged untrue statement made by the Company in Section 3 hereof or omission made the failure by the Company to perform when and as required any agreement or covenant contained herein. (2) The Adviser and the Administrator, jointly and severally, agree to indemnify, defend and hold harmless each Underwriter and each other person specified in subsection (a)(1) of this Section 9 from and against any loss, damage, expense, liability or claim (including the reasonable cost of any investigation incurred in connection therewith) any such Underwriter or any such other person may incur as specified in such subsection, insofar as such loss, damage, expense, liability or claim arises out of or is based upon (x) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Information. (b) Each Agent agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s directors, officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agent, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement as amended by any post-effective amendment thereof by the Company), the Pricing Prospectus, any Road Show Materials, any Additional Disclosure Item or the Prospectus (as amended or supplemented by the Company) regarding the Adviser or the Administrator or arising out of or is based upon any amendment thereofomission or alleged omission to state a material fact required to be stated in either the Registration Statement, the Pricing Prospectus, any Road Show Materials, any Additional Disclosure Item or the Prospectus or necessary to make the statements made therein not misleading or (y) any amendment untrue statement or supplement thereto alleged untrue statement made by the Adviser or any Permitted Free Writing Prospectus, the Administrator in reliance upon and in conformity with the Agent InformationSection 4 hereof. (c3) In case If any action, suit or proceeding (including each, a “Proceeding”) is brought against an Underwriter or any governmental investigation) shall be instituted involving any such person in respect of which indemnity may be sought against the Company, the Adviser or the Administrator, as appropriate, pursuant to Section 9(a) or 9(b)the foregoing paragraph, such Underwriter or such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (Company, the “indemnifying party”) Adviser or the Administrator, as appropriate, in writing of the institution of such Proceeding and the indemnifying party Company, the Adviser or the Administrator, as appropriate, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereofof such Proceeding, with including the employment of counsel reasonably satisfactory to the indemnified party to represent the such indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the payment of all fees and disbursements of such counsel related expenses; provided, however, that the omission to such proceeding. After notice so notify the Company, the Adviser or the Administrator, as appropriate, shall not relieve the Company, the Adviser or the Administrator, as appropriate, from any liability which the indemnifying party Company, the Adviser or the Administrator, as appropriate, may have to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel Underwriter or any other expenses subsequently incurred by such indemnified party in connection with the defense thereofperson or otherwise. In any Such Underwriter or such proceeding, any indemnified party person shall have the right to retain employ its or their own counselcounsel in any such case, but the fees and expenses of such counsel shall be at the expense of such indemnified party Underwriter or of such person unless (i) the indemnifying party and the indemnified party employment of such counsel shall have mutually agreed to been authorized in writing by the retention Company, the Adviser or the Administrator, as appropriate, in connection with the defense of such counselProceeding or the Company, (ii) the named parties to any such proceeding (including any impleaded parties) include both Adviser or the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between themAdministrator, (iii) the indemnifying party has failed as appropriate, shall not have, within a reasonable period of time in light of the circumstances, employed counsel to retain counsel reasonably satisfactory to have charge of the defense of such Proceeding or such indemnified party or (iv) the indemnified party parties shall have reasonably concluded that there may be legal defenses available to it that or them which are different from from, additional to or in addition to conflict with those available to the indemnifying party. It is understood Company, the Adviser or the Administrator, as appropriate, (in which case the Company, the Adviser or the Administrator, as appropriate, shall not have the right to direct the defense of such Proceeding on behalf of the indemnified party or parties), in any of which events such fees and expenses shall be borne by the Company, the Adviser or the Administrator, as appropriate, and paid as incurred (it being understood, however, that the indemnifying party Company, the Adviser or the Administrator, as appropriate, shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, not be liable for the fees and expenses of more than one separate firm counsel (in addition to one any local counsel) for all such in any one Proceeding or series of related Proceedings in the same jurisdiction representing the indemnified parties and that all who are parties to such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(bProceeding). The indemnifying party Each of the Company, the Adviser or the Administrator, as appropriate, shall not be liable for any settlement of any proceeding Proceeding effected without its written consent, consent but if settled with such the written consent or if there be a final judgment for of the plaintiffCompany, the indemnifying party Adviser or the Administrator, as appropriate, the Company, the Adviser or the Administrator, as appropriate, agrees to indemnify the indemnified party and hold harmless any Underwriter and any such person from and against any loss or liability by reason of such settlement or judgmentsettlement. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences sentence of this paragraph, then the indemnifying party agrees that it shall be liable for any settlement of any proceeding Proceeding effected without its written consent if (i) such settlement is entered into more than 30 60 business days after receipt by such indemnifying party of the aforesaid request; , (ii) such indemnifying party shall not have fully reimbursed the indemnified party in accordance with such request prior to the date of such settlement; settlement and (iii) such indemnifying indemnified party shall have received notice of given the terms of such settlement indemnifying party at least 30 days days’ prior notice of its intention to such settlement being entered intosettle. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding Proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding Proceeding and (y) does not include any statement as to or any an admission of fault, culpability or a failure to act act, by or on behalf of any such indemnified party. (db) To Each Underwriter severally and not jointly agrees to indemnify, defend and hold harmless the extent Company, the Adviser and the Administrator, their directors, partners and officers, and any person who controls the Company, the Adviser or the Administrator within the meaning of Section 15 of the Act or Section 20 of the Exchange Act, and the successors and assigns of all of the foregoing persons, from and against any loss, damage, expense, liability or claim (including the reasonable cost of any investigation incurred in connection therewith) which, jointly or severally, the Company, the Adviser or the Administrator, or any such person may incur under the Act, the Exchange Act, the common law or otherwise, insofar as such loss, damage, expense, liability or claim arises out of or is based upon any untrue statement or alleged untrue statement of a material fact contained in and in conformity with information concerning such Underwriter furnished in writing by or on behalf of such Underwriter through you to the Company expressly for use in the Registration Statement (or in the Registration Statement as amended by any post-effective amendment thereof by the Company), the Pricing Prospectus together with the Pricing Information, any Additional Disclosure Item or the Prospectus, or arises out of or is based upon any omission or alleged omission to state a material fact in connection with such information required to be stated in the Registration Statement, the Pricing Prospectus together with the Pricing Information, any Additional Disclosure Item or the Prospectus or necessary to make such information not misleading. If any Proceeding is brought against the Company, the Adviser or the Administrator, or any such person in respect of which indemnity may be sought against any Underwriter pursuant to the foregoing paragraph, the Company, the Adviser or the Administrator, or such person shall promptly notify such Underwriter in writing of the institution of such Proceeding and such Underwriter shall assume the defense of such Proceeding, including the employment of counsel reasonably satisfactory to such indemnified party and payment of all fees and expenses; provided, however, that the omission to so notify such Underwriter shall not relieve such Underwriter from any liability which such Underwriter may have to the Company, the Adviser or the Administrator, or any such person or otherwise. The Company, the Adviser or the Administrator, or such person shall have the right to employ its own counsel in any such case, but the fees and expenses of such counsel shall be at the expense of the Company, the Adviser or the Administrator, or such person unless the employment of such counsel shall have been authorized in writing by such Underwriter in connection with the defense of such Proceeding or such Underwriter shall not have, within a reasonable period of time in light of the circumstances, employed counsel to defend such Proceeding or such indemnified party or parties shall have reasonably concluded that there may be defenses available to it or them which are different from or additional to or in conflict with those available to such Underwriter (in which case such Underwriter shall not have the right to direct the defense of such Proceeding on behalf of the indemnified party or parties, but such Underwriter may employ counsel and participate in the defense thereof but the fees and expenses of such counsel shall be at the expense of such Underwriter), in any of which events such fees and expenses shall be borne by such Underwriter and paid as incurred (it being understood, however, that such Underwriter shall not be liable for the expenses of more than one separate counsel (in addition to any local counsel) in any one Proceeding or series of related Proceedings in the same jurisdiction representing the indemnified parties who are parties to such Proceeding). No Underwriter shall be liable for any settlement of any such Proceeding effected without the written consent of such Underwriter but if settled with the written consent of such Underwriter, such Underwriter agrees to indemnify and hold harmless the Company and any such person from and against any loss or liability by reason of such settlement. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second sentence of this paragraph, then the indemnifying party agrees that it shall be liable for any settlement of any Proceeding effected without its written consent if (i) such settlement is entered into more than 60 business days after receipt by such indemnifying party of the aforesaid request, (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement and (iii) such indemnified party shall have given the indemnifying party at least 30 days’ prior notice of its intention to settle. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened Proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such Proceeding. (c) If the indemnification provided for in this Section 9(a) or 9(b) 9 is unavailable to an indemnified party under subsections (a) and (b) of this Section 9 or insufficient to hold an indemnified party harmless in respect of any losses, claimsdamages, damages expenses, liabilities or liabilities claims referred to therein, then each applicable indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claimsdamages, damages expenses, liabilities or liabilities claims (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany, the Adviser and the Administrator on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesCompany, the Adviser and the Administrator on the one hand, hand and of the Agents, Underwriters on the other hand, in connection with the statements or omissions that which resulted in such losses, damages, expenses, liabilities or claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesCompany, the Adviser and the Administrator on the one hand, hand and the Agents, Underwriters on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering (net of the Shares (underwriting discounts and commissions but before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents in connection with the offering of the SharesUnderwriters, bear to the aggregate Gross Sales Price public offering price of the Shares. The relative fault of the Transaction EntitiesCompany, the Adviser and the Administrator on the one hand, hand and of the Agents, Underwriters on the other hand, shall be determined by reference to, among other things, whether the untrue statement or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities or by the Agents such party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities and the Agents agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified a party as a result of the losses, claimsdamages, damages expenses, liabilities and liabilities claims referred to in Section 9(d) this subsection shall be deemed to include, subject to the limitations set forth above, include any legal or other fees or expenses reasonably incurred by such indemnified party in connection with investigating investigating, preparing to defend or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equityProceeding. (fd) The indemnity and contribution provisions contained in this Section 9 Company, the Adviser, the Administrator and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.Underwriter

Appears in 1 contract

Sources: Underwriting Agreement (Pennantpark Investment Corp)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify indemnify, defend and hold harmless each Agentthe Underwriter, its affiliatespartners, directors, directors and officers, members and employees and each person, if any, any person who controls any Agent the Underwriter within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) and the successors and assigns of all of the foregoing persons, from and against any and all losses, claimsdamages, damages and expenses, liabilities or claims (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising which, the Underwriter or any such person may incur under the Act, the Exchange Act, the common law or otherwise, insofar as such losses, damages, expenses, liabilities or claims arise out of or are based upon (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or in the Registration Statement as amended by any post-effective amendment thereof, thereof by the Company) or in a Prospectus (the term Prospectus for the purpose of this Section 10 being deemed to include any preliminary prospectusPreliminary Prospectus, the Prospectus and the Prospectus as amended or any amendment or supplement thereto or any Permitted Free Writing Prospectussupplemented by the Company), or arising arise out of or are based upon any omission or alleged omission to state therein a material fact therein required to be stated therein in either such Registration Statement or such Prospectus or necessary to make the statements made therein not misleading, except insofar as any such losses, claimsdamages, damages expenses, liabilities or liabilities claims arise out of or are arising out or based upon any such untrue statement or omission or alleged untrue statement of a material fact or omission made contained in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with information concerning the Agent Information. (b) Each Agent agrees, severally and not jointly, Underwriter furnished in writing by or on behalf of the Underwriter to indemnify and hold harmless each Transaction Entity, the Company’s directors, officers who signed the Company expressly for use in such Registration Statement and each personor such Prospectus, if any, who controls either of the Transaction Entities within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agent, but only with respect to (ii) any untrue statements or omissions, statement or alleged untrue statements statement made by the Company in Section 4 hereof or omissionsthe failure by the Company to perform when and as required any agreement or covenant contained herein, made or (iii) any untrue statement or alleged untrue statement of any material fact contained in any audio or visual materials provided by the Registration Statement Company or any amendment thereofbased upon written information furnished by or on behalf of the Company including, the Prospectus without limitation, slides, videos, films or any amendment or supplement thereto or any Permitted Free Writing Prospectus, tape recordings used in reliance upon and in conformity connection with the Agent Information. (c) In case marketing of the Shares. If any action, suit or proceeding (including any governmental investigation) shall be instituted involving (each, a “PROCEEDING”) is brought against an Underwriter or any such person in respect of which indemnity may be sought against the Company pursuant to Section 9(a) the foregoing paragraph, the Underwriter or 9(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) Company in writing of the institution of such Proceeding and the indemnifying party Company shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereofof such Proceeding, with including the employment of counsel reasonably satisfactory to the indemnified party to represent the such indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the payment of all fees and disbursements of such counsel related expenses; provided, however, that the omission to such proceeding. After notice so notify the Company shall not relieve the Company from any liability which the indemnifying party Company may have to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel Underwriter or any other expenses subsequently incurred by such indemnified party in connection with the defense thereofperson or otherwise. In any The Underwriter or such proceeding, any indemnified party person shall have the right to retain employ its or their own counselcounsel in any such case, but the fees and expenses of such counsel shall be at the expense of the Underwriter or of such person unless the employment of such counsel shall have been authorized in writing by the Company in connection with the defense of such Proceeding or the Company shall not have, within a reasonable period of time in light of the circumstances, employed counsel to have charge of the defense of such Proceeding or such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named or parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that or them which are different from from, additional to or in addition to conflict with those available to the indemnifying party. It is understood that Company (in which case the indemnifying Company shall not have the right to direct the defense of such Proceeding on behalf of the indemnified party shall notor parties), in respect any of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one local counsel) for all such indemnified parties and that all which events such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and borne by the Company and paid as incurred (it being understood, however, that the Company shall not be liable for the expenses of more than one separate counsel (in addition to any local counsel) in any one Proceeding or series of related Proceedings in the case of same jurisdiction representing the indemnified parties indemnified pursuant who are parties to Section 9(bsuch Proceeding). The indemnifying party Company shall not be liable for any settlement of any proceeding Proceeding effected without its written consent, but if settled with such the written consent of the Company or if there be a final judgment for the plaintiff, the indemnifying party Company agrees to indemnify and hold harmless the indemnified party Underwriter and any such person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences sentence of this paragraph, then the indemnifying party agrees that it shall be liable for any settlement of any proceeding Proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; , and (ii) such indemnifying party shall not have fully reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding Proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding Proceeding. The Company agrees to indemnify, defend and hold harmless the Underwriter and its partners, directors and officers, and any person who controls the Underwriter within the meaning of Section 15 of the Act or Section 20 of the Exchange Act, and the successors and assigns of all of the foregoing persons, from and against any losses, damages, expenses, liabilities or claims (yincluding, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) does which the Underwriter or any such person may incur under the Act, the Exchange Act, the common law or otherwise, insofar as such losses, damages, expenses, liabilities or claims arise out of or are based upon any of the matters referred to in clauses (i) through (iii) of the first paragraph of this Section 10(a). The second paragraph of this Section 10(a) shall apply equally to any Proceeding brought against the Underwriter or any such person in respect of which indemnity may be sought against the Company pursuant to the foregoing sentence. (b) The Underwriter agrees to indemnify and hold harmless the Company, the directors of the Company, the officers who sign the Registration Statement, and any person who controls the Company within the meaning of Section 15 of the Act or Section 20 of the Exchange Act from and against any losses, damages, expenses, liabilities or claims (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) which, jointly or severally, the Company or any such person may incur under the Act, the Exchange Act, the common law or otherwise, insofar as such losses, damages, expenses, liabilities or claims arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus or the Prospectus (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto), or arise our of or are based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not include misleading, but only with reference to information relating to the Underwriter furnished to the Company in writing by the Underwriter through you expressly for use in the Registration Statement, any statement as preliminary prospectus, the Prospectus or any amendments or supplements thereto. If any Proceeding is brought against the Company or any such person in respect of which indemnity may be sought against the Underwriter pursuant to the foregoing paragraph, the Company or such person shall promptly notify the Underwriter in writing of the institution of such Proceeding and the Underwriter shall assume the defense of such Proceeding, including the employment of counsel reasonably satisfactory to such indemnified party and payment of all fees and expenses; provided, however, that the omission to so notify the Underwriter shall not relieve the Underwriter from any liability which the Underwriter may have to the Company or any such person or otherwise. The Company or such person shall have the right to employ its own counsel in any such case, but the fees and expenses of such counsel shall be at the expense of the Company or such person unless the employment of such counsel shall have been authorized in writing by the Underwriter in connection with the defense of such Proceeding or the Underwriter shall not have, within a reasonable period of time in light of the circumstances, employed counsel to defend such Proceeding or such indemnified party or parties shall have reasonably concluded that there may be defenses available to it or them which are different from or additional to or any admission in conflict with those available to the Underwriter (in which case the Underwriter shall not have the right to direct the defense of fault, culpability or a failure to act by or such Proceeding on behalf of the indemnified party or parties, but the Underwriter may employ counsel and participate in the defense thereof but the fees and expenses of such counsel shall be at the expense of the Underwriter), in any of which events such fees and expenses shall be borne by the Underwriter and paid as incurred (it being understood, however, that the Underwriter shall not be liable for the expenses of more than one separate counsel (in addition to any local counsel) in any one Proceeding or series of related Proceedings in the same jurisdiction representing the indemnified parties who are parties to such Proceeding). The Underwriter shall not be liable for any settlement of any such Proceeding effected without the written consent of the Underwriter but if settled with the written consent of the Underwriter or if there be a final judgment for the plaintiff, the Underwriter agrees to indemnify and hold harmless the Company and any such person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second sentence of this paragraph, then the indemnifying party agrees that it shall be liable for any settlement of any Proceeding effected without its written consent if (i) such settlement is entered into more than 30 business days after receipt by such indemnifying party of the aforesaid request, and (ii) such indemnifying party shall not have fully reimbursed the indemnified party in accordance with such request prior to the date of such settlement. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened Proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such Proceeding. (dc) To the extent the indemnification provided for in this Section 9(a) or 9(b) 10 is unavailable to an indemnified party under subsections (a) and (b) of this Section 10 or insufficient to hold an indemnified party harmless in respect of any losses, claimsdamages, damages expenses, liabilities or liabilities claims referred to therein, then each applicable indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claimsdamages, damages expenses, liabilities or liabilities claims (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i10(c)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i10(c)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, in connection with the statements or omissions that resulted in such losses, damages, expenses, liabilities or claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriter on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering (net of the Shares (underwriting discounts and commissions but before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriter, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Price public offering price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriter on the other hand, hand shall be determined by reference to, among other things, whether the untrue statement or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriter and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriter agree that it would not be just or equitable if contribution pursuant to this Section 9 10 were determined by pro rata allocation (even if the Agents were Underwriter was treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)this subsection 10(c) above. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 910, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received price at which the Shares underwritten by such Agent in connection with Underwriter and distributed to the offering of public were offered to the Shares public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue statement or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 10 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fd) The indemnity and contribution provisions agreements contained in this Section 9 10 and the covenants, warranties, representations and, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agentthe Underwriter, any person controlling any Agent its partners, directors or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance including each partner, officer or director of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.such person)

Appears in 1 contract

Sources: Underwriting Agreement (Environmental Power Corp)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication or that arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities that arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by or on behalf of such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the information described as such in paragraph (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Company, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements information relating to such Underwriter furnished to the Company in writing by or omissions, or alleged untrue statements or omissions, made on behalf of such Underwriter through the Representatives expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus or any amendment thereofor supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show or the Prospectus or any amendment or supplement thereto thereto, or any Permitted Free Writing ProspectusTesting-the-Waters Communication, it being understood and agreed that the only such information shall be the [•] paragraph under the caption “Underwriters” in reliance upon the Prospectus concerning the terms of the offering by the Underwriters, the [•] paragraph under the caption “Underwriters” in the Prospectus concerning sales to discretionary accounts and the [•] paragraph under the caption “Underwriters” in conformity with the Agent Prospectus concerning stabilization and overallotments by the Underwriters (the “Underwriter Information”). (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or 9(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred and documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed in writing to the retention of such counsel, ; (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, ; (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party party; or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood and agreed that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties Underwriters and that all such reasonable persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act, and (ii) the fees and expenses shall be reimbursed as they are incurredof more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such Section. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons and affiliates of any Underwriters, then such firm shall be designated in writing by the Agents, in Representatives. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any a statement as to or any an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a) or 9(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i9(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i9(d)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (after deducting underwriting discounts and commissions but before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter, or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (WalkMe Ltd.)

Indemnity and Contribution. (a) Each of the Transaction EntitiesThe Company agrees (i) to indemnify, jointly and severally, agrees to indemnify defend and hold harmless each the Placement Agent, its affiliatestheir respective, directors, officers, members employees and employees agents, and each person, if any, who controls any the Placement Agent within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) and the successors and assigns of all of the foregoing persons, from and against any and all lossesloss, claimsdamage, damages and liabilities expense, liability or claim (including, without limitation, any legal or other expenses reasonably incurred actions in connection with defending respect thereof as contemplated below) which the Placement Agent or investigating any such action person may incur under the Act, the Exchange Act, the common law or claimotherwise, insofar as such loss, damage, expense, liability or claim (or actions in respect thereof as contemplated below) arising arises out of or is based (A) in whole or in part upon any inaccuracy in the representations and warranties of the Company contained herein, (B) in whole or in part upon any failure of the Company to perform its obligations hereunder or under law, (C) upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement Statement, or any amendment thereofthereto, including any information deemed to be a part thereof pursuant to Rule 430B or Rule 430C under the Act, or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading, (D) upon any untrue statement or alleged untrue statement of a material fact contained in the Basic Prospectus (as amended or supplemented), any preliminary prospectusPermitted Free Writing Prospectus, the Prospectus (or any amendment or supplement thereto thereto) or the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, or (E) in whole or in part upon any act or failure to act or alleged act or failure to act by the Placement Agent in reliance upon (A), (B), (C) or (D), and in connection with or relating in any manner to the Securities or the offering contemplated hereby, and which is included as part of or referred to in any loss, claim, damage, liability or action arising out of or based upon any matter covered by clause (A), (B), (C) or (D) above, provided that the Company shall not be liable under this clause (E) to the extent that a court of competent jurisdiction shall have determined by a final judgment that such loss, claim, damage, liability or action resulted primarily from any such acts or failures to act undertaken or omitted to be taken by such Placement Agent through its bad faith or willful misconduct; and (ii) to reimburse each Placement Agent, its respective officers, directors, employees, agents and each such controlling person for any and all expenses (including the fees and disbursements of counsel chosen by the Placement Agent) as such expenses are reasonably incurred by the Placement Agent, or its respective officers, directors, employees and agents or such controlling person in connection with investigating, defending, settling, compromising or paying any such loss, claim, damage, liability, expense or action; provided, however, that the foregoing indemnity agreement shall not apply to any loss, claim, damage, liability or expense to the extent, but only to the extent, arising out of or based upon any untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with written information furnished to the Company by the Placement Agent expressly for use in the Registration Statement, any Permitted Free Writing Prospectus, or arising the Prospectus (or any amendment or supplement thereto). The indemnity agreement set forth in this Section 8(a) shall be in addition to any liabilities that the Company may otherwise have. (b) The Placement Agent agrees to indemnify and hold harmless the Company, each of its directors, each of its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of the Act or the Exchange Act, against any loss, claim, damage, liability or expense, as incurred, to which the Company or any such director, officer or controlling person may become subject, insofar as such loss, claim, damage, liability or expense (or actions in respect thereof as contemplated below) arises out of or is based upon any untrue or alleged untrue statement of a material fact contained in the Registration Statement, any Permitted Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto), or arises out of or is based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as in each case to the extent, and only to the extent, that such losses, claims, damages untrue statement or liabilities are arising out or based upon any such alleged untrue statement or omission or alleged untrue statement or omission was made in the Registration Statement or any amendment thereofStatement, the Prospectus or any Permitted Free Writing ProspectusProspectus or the Prospectus (or any amendment or supplement thereto), in reliance upon and in conformity with the Agent Information. (b) Each Agent agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s directors, officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act written information furnished to the same extent as Company by the foregoing indemnity from Placement Agent expressly for use therein; and to reimburse the Transaction Entities Company or any such director, officer or controlling person for any legal and other expense reasonably incurred by the Company or any such director, officer or controlling person in connection with investigating, defending, settling, compromising or paying any such loss, claim, damage, liability, expense or action. The Company hereby acknowledges that the only information that the Placement Agent has furnished to such Agent, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made the Company expressly for use in the Registration Statement Statement, any Permitted Free Writing Prospectus or any amendment thereof, the Prospectus (or any amendment or supplement thereto or any Permitted Free Writing Prospectus, thereto) are the statements set forth in reliance upon and in conformity with the Agent InformationSection 9. (c) Promptly after receipt by an indemnified party under this Section 8 of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against an indemnifying party under this Section 8, notify the indemnifying party in writing of the commencement thereof; but the failure to so notify the indemnifying party a) will not relieve it from liability under paragraph (a) or (b) above unless and to the extent it did not otherwise learn of such action and such failure results in the forfeiture by the indemnifying party of substantial rights and defenses and b) will not, in any event, relieve the indemnifying party from any liability other than the indemnification obligation provided in paragraph (a) or (b) above. In case any proceeding (including such action is brought against any governmental investigation) shall be instituted involving any person in respect of which indemnified party and such indemnified party seeks or intends to seek indemnity may be sought pursuant to Section 9(a) or 9(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “from an indemnifying party”) in writing and , the indemnifying party shall will be entitled to participate therein in, and, to the extent that it shall elect, jointly with any all other indemnifying party parties similarly notified, by written notice delivered to the indemnified party promptly after receiving the aforesaid notice from such indemnified party, to assume the defense thereof, thereof with counsel reasonably satisfactory to such indemnified party; provided, however, if the indemnified party to represent defendants in any such action include both the indemnified party and any others the indemnifying party and the indemnified party shall have reasonably concluded that a conflict may designate arise between the positions of the indemnifying party and the indemnified party in conducting the defense of any such proceeding action or that there may be legal defenses available to it and/or other indemnified parties that are different from or additional to those available to the indemnifying party, the indemnified party or parties shall have the right to select separate counsel to assume such legal defenses and shall pay to otherwise participate in the fees and disbursements defense of such counsel related to action on behalf of such proceedingindemnified party or parties. After Upon receipt of notice from the indemnifying party to such indemnified party of its such indemnifying party’s election so to assume the defense thereof of such action and approval by the indemnified party of counsel, the indemnifying party will not be liable to such indemnified party under such subsection this Section 8 for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any thereof unless (i) the indemnified party shall have employed separate counsel in accordance with the right proviso to retain its own the preceding sentence (it being understood, however, that the indemnifying party shall not be liable for the expenses of more than one separate counsel (other than local counsel), but reasonably approved by the indemnifying party, representing the indemnified parties who are parties to such action) or (ii) the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of commencement of the action, in each of which cases the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm . (in addition to one local counseld) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(b). The indemnifying party under this Section 8 shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss loss, claim, damage, liability or liability expense by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement settlement, compromise or consent to the entry of judgment in any pending or threatened action, suit or proceeding in respect of which any indemnified party is or could have been a party and indemnity was or could have been sought hereunder by such indemnified party, unless such settlement settlement, compromise or consent (xi) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such action, suit or proceeding and (yii) does not include any a statement as to or any an admission of fault, culpability or a failure to act act, by or on behalf of any indemnified party. (de) To the extent If the indemnification provided for in Section 9(a8(a) or 9(b) (b), as applicable, is for any reason unavailable to or otherwise insufficient to hold harmless an indemnified party or insufficient in respect of any losses, claims, damages damages, liabilities or liabilities expenses referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the aggregate amount paid or payable by such indemnified party party, as incurred, as a result of such any losses, claims, damages damages, liabilities or liabilities expenses referred to therein (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany, on the one hand, and the AgentsPlacement Agent, on the other hand, from the offering placement of the Shares Securities pursuant to this Agreement or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesCompany, on the one hand, and of the AgentsPlacement Agent, on the other hand, in connection with the statements or omissions that contained in the Registration Statement, the Basic Prospectus (as amended or supplemented), any Permitted Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto) or inaccuracies in the representations and warranties herein which resulted in such losses, claims, damages damages, liabilities or liabilitiesexpenses, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesCompany, on the one hand, and the AgentsPlacement Agent, on the other hand, in connection with the offering placement of the Shares Securities pursuant to this Agreement shall be deemed to be in the same respective proportions as the total net proceeds from the offering placement of the Shares Securities pursuant to this Agreement (before deducting expenses) received by the Transaction Entities Company, and the total discounts and commissions compensation received by the Agents in connection with the offering of the Shares, bear Placement Agent bears to the aggregate Gross Sales Price proceeds from the placement of the SharesSecurities. The relative fault of the Transaction EntitiesCompany, on the one hand, and the AgentsPlacement Agent, on the other hand, shall be determined by reference to, among other things, whether the any such untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact or any such inaccurate or alleged inaccurate representation or warranty relates to information supplied by the Transaction Entities Company, on the one hand, or by the Agents Placement Agent, on the other hand, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations amount paid or payable by a party as a result of the losses, claims, damages, liabilities and expenses referred to contribute pursuant above shall be deemed to this Section 9 are several in proportion include, subject to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions limitations set forth in Section 9(c) hereof 8(c), any legal or other fees or expenses reasonably incurred by such party in connection with respect to notice of commencement of investigating or defending any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) or claim. The Transaction Entities Company and the Agents Placement Agent agree that it would not be just or and equitable if contribution pursuant to this Section 9 8(e) were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in this Section 9(d8(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d. (f) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98(e), no the Placement Agent shall not be required to contribute any amount in excess of the amount by which the total discounts and commissions compensation received by such the Placement Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay placement contemplated by reason of such untrue or alleged untrue statement or omission or alleged omissionthis Agreement. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for Placement Agent’s obligations to contribute pursuant to Section 8(e) is in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available proportion to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties itsrespective percentage allocations of the Transaction Entities contained in, or made compensation payable by the Company pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) to Section 1 hereof. For purposes of clarity Section 8(e), each director, officer, employee and without limitation to any provision of this Agreement, the obligations agent of the Agents under this Agreement are several Placement Agent and not jointeach person, if any, who controls the Placement Agent within the meaning of the Act or the Exchange Act shall have the same rights to contribution as the Placement Agent, and each director of the Company, each officer of the Company who signed the Registration Statement and each person, if any, who controls the Company within the meaning of the Act or the Exchange Act shall have the same rights to contribution as the Company.

Appears in 1 contract

Sources: Placement Agency Agreement (Stemcells Inc)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each Placement Agent, its affiliates, the directors, officers, members employees, Affiliates and employees agents of each Placement Agent and each person, if any, person who controls any Placement Agent within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (includingor liabilities, without limitationjoint or several, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising out of of, or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement for the registration of the Shares as originally filed or in any amendment thereof, any preliminary prospectus, or in the Final Prospectus Supplement (or any amendment or supplement thereto thereto), any Preliminary Prospectus Supplement, any road show as defined in Rule 433(h) under the Act (a “road show”) or any Permitted Free Writing ProspectusPricing Disclosure Package (including any Pricing Disclosure Package that has subsequently been amended), or arising out of or are based upon any the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar and agrees to reimburse each such indemnified party, as incurred, for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such lossesloss, claimsclaim, damages damage, liability or liabilities are arising action; provided, however, that the Company will not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, therein in reliance upon and in conformity with written information furnished to the Company by or on behalf of any Placement Agent Informationspecifically for inclusion therein, it being understood and agreed that the only such information furnished by or on behalf of any Placement Agent consists of the information described as such in Section 7(b) hereof. This indemnity agreement will be in addition to any liability which the Company may otherwise have. (b) Each Placement Agent agrees, severally and not jointly, jointly agrees to indemnify and hold harmless each Transaction Entity, the Company’s , each of its directors, each of its officers who signed signs the Registration Statement Statement, and each person, if any, person who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act Act, to the same extent as the foregoing indemnity from the Transaction Entities Company to such Agenteach Placement Agent set forth in paragraph 7(a) above, but only with respect reference to untrue statements written information relating to such Placement Agent furnished to the Company by or omissions, or alleged untrue statements or omissions, made on behalf of such Placement Agent specifically for inclusion in the Registration Statement documents referred to in the foregoing indemnity; and each Placement Agent agrees to reimburse each such indemnified party for any documented legal fees or other expenses reasonably incurred by them in connection with investigating or defending any amendment thereofsuch loss, claim, damage, liability or action. This indemnity agreement will be in addition to any liability which any Placement Agent may otherwise have. The Company acknowledges that there has been no information furnished in writing by or on behalf of the several Placement Agents for inclusion in the documents referred to in the foregoing indemnity other than the first sentence of the first paragraph under the caption “—Other Relationships” in the Plan of Distribution section in each of the Final Prospectus Supplement (or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon thereto) and in conformity with the Agent InformationPreliminary Prospectus Supplement . (c) In case any proceeding (including any governmental investigation) shall be instituted involving Promptly after the receipt by any person in respect of which indemnity indemnification may be sought pursuant to either Section 9(a7(a) or 9(b7(b) above of notice of the commencement of any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand, such person (the “indemnified partyIndemnified Person”) shall promptly notify the person will, if a claim in respect thereof is to be made against whom such indemnity indemnification may be sought (the “indemnifying partyIndemnifying Person”) notify the Indemnifying Person in writing as promptly as reasonably practicable of the commencement thereof; provided that the failure so to notify the Indemnifying Person (i) will not relieve it from any liability that it may have under this Section 7 unless and the indemnifying party shall be entitled to participate therein and, to the extent that it did not otherwise learn of such action and such failure results in the forfeiture by the Indemnifying Person of substantial rights and defenses and (ii) will not, in any event, relieve the Indemnifying Person from any obligations to an Indemnified Person other than the indemnification obligation provided in Section 7(a) or Section 7(b) above. If any such proceeding shall elect, jointly with any other indemnifying party similarly notified, to assume be brought or asserted against an Indemnified Person and it shall have notified the defense Indemnifying Person thereof, with the Indemnifying Person shall be entitled to appoint counsel of the Indemnifying Person’s choice at the Indemnifying Person’s expense to represent the Indemnified Person in any action, and any others entitled to indemnification pursuant to this Section that the Indemnifying Person may designate in such action, for which indemnification is sought (in which case the Indemnifying Person shall not thereafter be responsible for the fees and expenses of any separate counsel retained by the Indemnified Person or Indemnified Persons except as set forth below); provided, however, that such counsel shall be reasonably satisfactory to the indemnified party Indemnified Person. Notwithstanding the Indemnifying Person’s election to appoint counsel to represent the indemnified party and any others Indemnified Person in an action, the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party Indemnified Person shall have the right to retain its own employ separate counsel (including local counsel), but and the fees Indemnifying Person shall bear the reasonable fees, costs and expenses of such separate counsel shall be at the expense of such indemnified party unless if (iA) the indemnifying party and use of counsel chosen by the indemnified party shall have mutually agreed Indemnifying Person to represent the retention Indemnified Person would present such counsel with a conflict of such counselinterest, (iiB) the named parties to actual or potential defendants in, or targets of, any such proceeding (including any impleaded parties) action include both the indemnifying party Indemnified Person and the indemnified party Indemnifying Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that and/or other Indemnified Persons which are different from or in addition additional to those available to the indemnifying partyIndemnifying Person, (C) the Indemnifying Person shall not have employed counsel satisfactory to the Indemnified Person to represent the Indemnified Person within a reasonable time after notice of the institution of such action or (D) the Indemnifying Person shall authorize the Indemnified Person to employ separate counsel at the expense of the Indemnifying Person. It is understood and agreed that the indemnifying party Indemnifying Person shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings proceeding in the same jurisdiction, be liable for the reasonable fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties Indemnified Persons and that all such reasonable fees and expenses shall be paid or reimbursed as they are incurred. If Any such separate firm for one or more of the indemnifying party does not elect to assume the defensePlacement Agents and any of their affiliates, then such firm directors and officers and their control persons, if any, shall be designated in writing by the Placement Agents, in the case of parties indemnified pursuant to Section 9(a)as applicable, and any such separate firm for the Company, its directors, its officers who signed the Registration Statement and its control persons, if any, shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shallAn Indemnifying Person will not, without the prior written consent of the indemnified partyIndemnified Persons, effect settle or compromise or consent to the entry of any settlement of judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which any indemnified party is indemnification or could have been a party and indemnity could have been contribution may be sought hereunder by (whether or not the Indemnified Persons are actual or potential parties to such indemnified party, claim or action) unless such settlement settlement, compromise or consent includes (xi) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, each Indemnified Person from all liability on claims that are the subject matter arising out of such proceeding claim, action, suit or proceeding; and (yii) does not include any a statement as to to, or any an admission of of, fault, culpability or a failure to act act, by or on behalf of any indemnified partyIndemnified Person. (d) To In the extent event that the indemnification indemnity provided for in Section 9(aparagraph (a) or 9(b(b) of this Section 7 is unavailable to an indemnified party or insufficient in respect of to hold harmless an Indemnified Person for any reason, then each Indemnifying Person agrees to contribute to the aggregate losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or and liabilities (iincluding legal or other expenses reasonably incurred in connection with investigating or defending the same) (collectively, “Losses”) to which the Company and one or more of the Placement Agents may be subject in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany, on the one hand, and the Placement Agents, on the other handother, from the offering and sale of the Shares or (ii) if pursuant to this Agreement. If the allocation provided by clause (i) above the immediately preceding sentence is not permitted by applicable lawunavailable for any reason, the Company and the Placement Agents severally shall contribute in such proportion as is appropriate to reflect not only the such relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesCompany, on the one hand, and of the Placement Agents, on the other handother, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, Losses as well as any other relevant equitable considerations. The relative benefits Benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, in connection with the offering of the Shares Company shall be deemed to be in the same respective proportions as equal to the total net proceeds from the offering sale of the Shares (before deducting expenses) received by it as set for the Transaction Entities on the cover page of the Final Prospectus Supplement, and the total discounts and commissions benefits received by the Placement Agents in connection with the offering of the Shares, bear shall be deemed to be equal to the aggregate Gross Sales Price of the Sharestotal Placement Fee. The relative Relative fault of the Transaction EntitiesCompany, on the one hand, and the Placement Agents, on the other handother, shall be determined by reference to, among other things, whether the any untrue or any alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by each such party, the Transaction Entities or by intent of the Agents parties and the parties’ their relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) In no case shall any Placement Agent (except as may be provided in any agreement among Placement Agents relating to the offering of the Securities) be responsible for any amount pursuant to this paragraph 7(e) in excess of the Placement Fee. The Transaction Entities Company and the Placement Agents agree that it would not be just or and equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that which does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9paragraph 7(e), no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 7, each person who controls a Placement Agent within the meaning of either the Act or the Exchange Act and each director, officer, employee and agent of a Placement Agent shall have the same rights to contribution as such Placement Agent, and each person who controls the Company within the meaning of either the Act or the Exchange Act, each officer of the Company who shall have signed the Registration Statement and each director of the Company shall have the same rights to contribution as the Company, subject in each case to the applicable terms and conditions of this paragraph 7(e). (f) The remedies provided for in this Section 9 7 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party Indemnified Person at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Placement Agency Agreement (Lilium N.V.)

Indemnity and Contribution. (a) Each of the The Transaction Entities, jointly and severally, agrees agree to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any information relating to the Transaction Entities that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication, or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the information described as such in paragraph (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each the Transaction EntityEntities, the Company’s their directors, officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Transaction Entities in writing by such Underwriter through the Representatives expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or any amendment thereof, the Prospectus or any amendment or supplement thereto or thereto, it being understood and agreed upon that the only such information furnished by any Permitted Free Writing ProspectusUnderwriter consists of the following information in the Prospectus furnished on behalf of each Underwriter under the caption “Underwriting”: (i) the names of the Underwriters and their respective participation in the sale of the Shares, (ii) the concession figure appearing in reliance upon the third paragraph thereunder and (iii) the information regarding stabilization, syndicate covering transactions and penalty bids appearing in conformity with the Agent Informationthirteenth paragraph thereunder. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between themthem and/or the indemnifying party and the indemnified party have different available defenses, and (iii) the indemnifying party has failed within not retained counsel on a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying partytimely basis. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Transaction Entities, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 45 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (xi) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding proceeding, and (yii) does not include any statement as to or any an admission of fault, culpability or a failure to act wrongdoing by or on behalf of any the indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Entities on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Entities on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Entities on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Entities on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any the Transaction Entity or any of Entities, their respective officers or directors or any person controlling any the Transaction Entity Entities and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Phillips Edison & Company, Inc.)

Indemnity and Contribution. (a) Each of the Transaction EntitiesThe Enfusion Parties, jointly and severally, agrees severally agree to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication that arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the information described as such in paragraph (c) below. (b) Each Selling Shareholder severally and not jointly, agrees to indemnify and hold harmless each Underwriter, each person, if any, who controls any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any road show, or the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or any written Testing-the-Waters Communication or that arise out of, or are based upon, by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, (A) except in so far as such losses, claims, damages or liabilities that arise out of, or are based upon, any such untrue statement or omission or alleged untrue statement ​ ​ or omission based upon any Underwriter Information and (B) only to the extent such losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon on and in conformity with the Agent InformationSelling Shareholder Information and, provided, further, that the aggregate liability of any Selling Shareholder pursuant to this subsection (b) and the contribution provisions of Section 11(f) below shall be limited to an amount equal to such Selling Shareholder’s net proceeds (after deducting underwriting discounts and commissions but before deducting any other expenses) from its sale of the Shares under this Agreement (with respect to each Selling Shareholder, the “Selling Shareholder Proceeds”). (bc) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction EntityEnfusion Party, the Company’s directorsSelling Shareholders, the directors of each Enfusion Party, the officers of the Enfusion Parties who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or any Selling Shareholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity Act, from the Transaction Entities to and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such Agentaction or claim) that arise out of, but only with respect to or are based upon, any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show or the Prospectus or any amendment or supplement thereto thereto, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, it being understood and agreed that the only information furnished by any such Underwriter consists of the following information in reliance upon the Prospectus furnished on behalf of each Underwriter: the selling concession amount appearing in the third paragraph under the caption “Underwriters,” the information concerning sales to discretionary accounts appearing in the seventh paragraph under the caption “Underwriters,” and the information concerning stabilization and the over-allotment option in conformity with the Agent Informationtwelfth paragraph under the caption “Underwriters. (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a‎11(a), ‎11(b) or 9(b11(c), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon ​ ​ request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the reasonably incurred fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the reasonably incurred fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the reasonably incurred fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section and (iii) the reasonably incurred fees and expenses of more than one separate firm (in addition to any local counsel) for all Selling Shareholders and all persons, if any, who control any Selling Shareholder within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons and affiliates of any Underwriters, then such firm shall be designated in writing by the Agents, in Representatives. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in Company. In the case of parties indemnified pursuant to Section 9(b)any such separate firm for the Selling Shareholders and such control persons of any Selling Shareholders, such firm shall be designated in writing by the Selling Shareholders. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for reasonably incurred fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the ​ ​ indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as statements to or any admission of fault, culpability culpability, or a failure to act by or on behalf of any indemnified party. (de) To the extent the indemnification provided for in Section 9(a‎11(a), ‎11(b) or 9(b11(c) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i‎11(e)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i‎11(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Enfusion Parties and Selling Shareholders on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities each Enfusion Party and Selling Shareholder and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Enfusion Parties and Selling Shareholders on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Enfusion Parties and Selling Shareholders or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 ‎11 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth Selling Shareholders’ obligations to contribute pursuant to this Section 11 are several. The liability of each Selling Shareholder under the contribution agreement contained in this paragraph and the indemnity contained in Section 9(c11(b) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect limited to any action for which notice has been given under section 9(d) hereof for purposes of indemnification.an amount equal to Selling Shareholder Proceeds. ​ (ef) The Transaction Entities Each of the Enfusion Parties, the Selling Shareholders and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 ‎11 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d‎11(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d‎11(e) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9‎11, (i) no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission and (ii) no Selling Shareholder shall be required to contribute an amount in excess of the amount by which the Selling Shareholder Proceeds exceed the amount of any damages that such Selling Shareholder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or allaged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 ‎11 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fg) The indemnity and contribution provisions contained in this Section 9 ‎11 and the representations andrepresentations, warranties and other statements of the Transaction Entities Enfusion Parties and the Selling Shareholders contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.affi

Appears in 1 contract

Sources: Underwriting Agreement (Enfusion, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any documented legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Prospectus or any amendment or supplement thereto or thereto, the Time of Sale Prospectus, any Permitted Issuer Free Writing Prospectus, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), or arising any Written Testing-the-Waters Communication, or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein therein, in the light of the circumstances under which they were made, not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through ▇▇▇▇▇ expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through ▇▇▇▇▇ consists of the information described as such in paragraph (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through ▇▇▇▇▇ expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, road show, or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing thereto, which information consists solely of the following information in the preliminary prospectus and the Prospectus: the first paragraph under the caption “Underwriting—Discounts and Commissions,” the third paragraph under the caption “Underwriting—Price Stabilization, in reliance upon Short Positions and in conformity with Penalty Bids” and the Agent Informationcaption “Underwriting—Other Relationships”. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the Agents▇▇▇▇▇, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyproceeding. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares Securities or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares Securities shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares Securities (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the SharesSecurities. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Securities they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any documented legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts price at which the Securities underwritten by it and commissions received by such Agent in connection with distributed to the offering of public were offered to the Shares public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the SharesSecurities. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (CalciMedica, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred and documented in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the U.S. Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleadingmisleading and (ii) any misrepresentation or alleged misrepresentation contained in the Canadian Preliminary Prospectuses, the Canadian Final Prospectus or any amendment or supplement thereto, except in each case insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission misrepresentation or alleged untrue statement or omission misrepresentation made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with Underwriter Furnished Information and the Agent Selling Shareholder Furnished Information. The Company also agrees, to indemnify and hold harmless ▇.▇. ▇▇▇▇▇▇ Securities LLC, its affiliates, directors and officers and each person, if any, who controls ▇.▇. ▇▇▇▇▇▇ Securities LLC within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred and documented in connection with defending or investigating any such action or claim) that arise out of, or are based upon, ▇.▇. ▇▇▇▇▇▇ Securities LLC’s participation as a “qualified independent underwriter” within the meaning of FINRA Rule 5121 in connection with the offering of the Shares. (b) Each Agent Selling Shareholder agrees, severally and not jointly, to indemnify and hold harmless each Transaction EntityUnderwriter, each person, if any, who controls any Underwriter within the Company’s directorsmeaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, officers who signed and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred and documented in connection with defending or investigating any such action or claim) that arise out of, or are based upon, (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, the U.S. Prospectus or any amendment or supplement thereto, or any Testing-the-Waters Communication or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading and (ii) any misrepresentation or alleged misrepresentation contained in the Canadian Preliminary Prospectuses, the Canadian Final Prospectus or any amendment or supplement thereto, but in each case only with reference to information relating to such Selling Shareholder furnished in writing by or on behalf of such Selling Shareholder expressly for use in the Registration Statement or any amendment thereof, any preliminary prospectus (including the Canadian Preliminary Prospectuses), the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus, road show or the Prospectus or any amendment or supplement thereto, or any Written Testing-the-Waters Communication, it being understood and agreed that the only such information is the Selling Shareholder Furnished Information. The liability of each Selling Shareholder under the indemnity agreement contained in this paragraph shall be limited to an amount equal to the aggregate Public Offering Price (less underwriting discounts and commissions but before deducting expenses) of the Shares sold by such Selling Shareholder under this Agreement (with respect to each Selling Shareholder, the “Selling Shareholder Proceeds”). Each Selling Shareholder also agrees, severally and not jointly, to indemnify and hold harmless ▇.▇. ▇▇▇▇▇▇ Securities LLC, its affiliates, directors and officers and each person, if any, who controls either ▇.▇. ▇▇▇▇▇▇ Securities LLC within the meaning of Section 15 of the Transaction Entities Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred and documented in connection with defending or investigating any such action or claim) that arise out of, or are based upon, ▇.▇. ▇▇▇▇▇▇ Securities LLC’s participation as a “qualified independent underwriter” within the meaning of FINRA Rule 5121 in connection with the offering of the Shares; provided, however, that such Selling Shareholder’s obligation to indemnify ▇.▇. ▇▇▇▇▇▇ Securities LLC under this sentence shall apply only insofar as such losses, claims, damages or liabilities (including, without limitation, any legal fees or other expenses reasonably incurred by ▇.▇. ▇▇▇▇▇▇ Securities LLC in connection with defending or investigating any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred) arise out of, or are based upon, any untrue statement or omission or, alleged untrue statement or omission from, misrepresentation or alleged misrepresentation in any such documents made in reliance upon and in conformity with the Selling Shareholder Furnished Information relating to such Selling Shareholder. (c) Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company, each Selling Shareholder, the directors of the Company, the officers of the Company who sign the Registration Statement or the Canadian Final Prospectus and each person, if any, who controls the Company or each Selling Shareholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity indemnities from the Transaction Entities Sellers to such AgentUnderwriter, but only with respect reference to untrue statements information relating to such Underwriter furnished to the Company in writing by (or omissions, or alleged untrue statements or omissions, made by the Representatives on behalf of) such Underwriter through you expressly for use in the Registration Statement or any amendment thereof, any preliminary prospectus (including the Canadian Preliminary Prospectuses), the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus, road show or the Prospectus or any amendment or supplement thereto thereto, or any Permitted Free Writing ProspectusWritten Testing-the-Waters Communication, in reliance upon it being understood and in conformity with agreed that the Agent only such information is the Underwriter Furnished Information. (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a11(a) or 9(b11(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred and documented fees and disbursements of such counsel related to such proceeding. After The indemnifying party shall be entitled to participate therein and, to the extent that it shall wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party), and, after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof thereof, the indemnifying party shall not be liable to such indemnified party under such subsection for any legal expenses of other counsel or any other expenses expenses, in each case subsequently incurred by such indemnified party party, in connection with the defense thereofthereof other than reasonable costs of investigation. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, ; (ii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party; or (iii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act, provided, however, that if indemnity may be sought pursuant to the last sentence of Section 11(a) above in respect of such indemnified parties proceeding, then in addition to such separate firm of the Underwriters, their affiliates and such control persons of the Underwriters, the indemnifying party shall be liable for the fees and expenses of not more than one separate firm (in addition to any local counsel) for ▇.▇. ▇▇▇▇▇▇ Securities LLC in its capacity as a “qualified independent underwriter,” its affiliates, directors, officers and all persons, if any, who control ▇.▇. ▇▇▇▇▇▇ Securities LLC within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such Section and (iii) the fees and expenses of more than one separate firm (in addition to any local counsel) for all Selling Shareholders and all persons, if any, who control any Selling Shareholder within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are reasonably incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons and affiliates of any Underwriters, then such firm shall be designated in writing by the Agents, in Representatives. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in Company. In the case of parties indemnified pursuant any such separate firm for any of the Selling Shareholders and such control persons of any of the Selling Shareholders, such firm shall be designated in writing by each Selling Shareholder with respect to Section 9(b)itself. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 60 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyproceeding. (de) To the extent the indemnification provided for in Section 9(a11(a) or 9(b11(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i11(e)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i11(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Sellers on the one hand, hand and the AgentsUnderwriters or ▇.▇. ▇▇▇▇▇▇ Securities LLC in its capacity as a “qualified independent underwriter”, as the case may be, on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities each Seller and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Sellers on the one hand, hand and the AgentsUnderwriters or ▇.▇. ▇▇▇▇▇▇ Securities LLC in its capacity as a “qualified independent underwriter”, as the case may be, on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact fact, the misrepresentation or alleged misrepresentation or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Sellers or by the Agents and the parties’ relative intent, knowledge, access to information and opportunity to correct Underwriters or prevent such statement or omission▇.▇. The Agents’ respective obligations to contribute pursuant to this Section 9 are several ▇▇▇▇▇▇ Securities LLC in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities and the Agents agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party its capacity as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.“qualified independent

Appears in 1 contract

Sources: Underwriting Agreement (TELUS International (Cda) Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, the directors, officers, members employees, affiliates and employees agents of each Underwriter and each person, if any, person who controls any Agent Underwriter within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and or liabilities, joint or several, to which they or any of them may become subject under the Act, the Exchange Act or other Federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities (includingor actions in respect thereof) arise out of, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement for the registration of the Shares as originally filed or in any amendment thereof, any preliminary prospectus, or in the Final Prospectus Supplement (or any amendment or supplement thereto or thereto), any Permitted Preliminary Prospectus Supplement, any Issuer Free Writing Prospectus, any road show as defined in Rule 433(h) under the Securities Act (a “road show”) or arising any Pricing Disclosure Package (including any Pricing Disclosure Package that has subsequently been amended), or arise out of or are based upon any the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar and agrees to reimburse each such indemnified party, as incurred, for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such lossesloss, claimsclaim, damages damage, liability or liabilities are arising action; provided, however, that the Company will not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, therein in reliance upon and in conformity with written information furnished to the Agent InformationCompany by or on behalf of any Underwriter through the Representatives specifically for inclusion therein, it being understood and agreed that the only such information furnished by or on behalf of any Underwriter consists of the information described as such in Section ‎10(b) hereof. This indemnity agreement will be in addition to any liability which the Company may otherwise have. (b) Each Agent agrees, Underwriter severally and not jointly, jointly agrees to indemnify and hold harmless each Transaction Entity, the Company’s , each of its directors, each of its officers who signed signs the Registration Statement Statement, and each person, if any, person who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act Act, to the same extent as the foregoing indemnity from the Transaction Entities Company to such Agenteach Underwriter set forth in paragraph ‎10(a) above, but only with respect reference to untrue statements written information relating to such Underwriter furnished to the Company by or omissions, or alleged untrue statements or omissions, made on behalf of such Underwriter through the Representatives specifically for inclusion in the Registration Statement documents referred to in the foregoing indemnity. This indemnity agreement will be in addition to any liability which any Underwriter may otherwise have. The Company acknowledges that the statements set forth in the last paragraph of the cover page of the Final Prospectus Supplement regarding delivery of the Shares and, under the heading of the Final Prospectus Supplement labeled “Underwriting,” (i) the list of Underwriters and their respective participation in the sale of the Shares, (ii) the sentences related to concessions and reallowances and (iii) the paragraphs related to stabilization, syndicate covering transactions and penalty bids in the Final Prospectus Supplement constitute the only information furnished in writing by or any amendment thereof, on behalf of the several Underwriters by the Representatives for inclusion in the Final Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent InformationSupplement. (c) In case any proceeding (including any governmental investigation) shall be instituted involving Promptly after the receipt by any person in respect of which indemnity indemnification may be sought pursuant to either Section 9(a‎10(a) or 9(b‎10(b) above of notice of the commencement of any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand, such person (the “indemnified partyIndemnified Person”) shall promptly notify the person will, if a claim in respect thereof is to be made against whom such indemnity indemnification may be sought (the “indemnifying partyIndemnifying Person”) notify the Indemnifying Person in writing of the commencement thereof; provided that the failure so to notify the Indemnifying Person (i) will not relieve it from any liability that it may have under this Section ‎10 unless and the indemnifying party shall be entitled to participate therein and, to the extent that it did not otherwise learn of such action and such failure results in the forfeiture by the Indemnifying Person of substantial rights and defenses and (ii) will not, in any event, relieve the Indemnifying Person from any obligations to an Indemnified Person other than the indemnification obligation provided in Section ‎10(a) or Section ‎10(b) above. The Indemnifying Person shall elect, jointly with any other indemnifying party similarly notified, be entitled to assume appoint counsel of the defense thereof, with counsel reasonably satisfactory to Indemnifying Person’s choice at the indemnified party Indemnifying Person’s expense to represent the indemnified party Indemnified Person in any action, and any others entitled to indemnification pursuant to this Section that the indemnifying party Indemnifying Person may designate in such proceeding and action, for which indemnification is sought (in which case the Indemnifying Person shall pay not thereafter be responsible for the fees and disbursements expenses of any separate counsel retained by the Indemnified Person or Indemnified Persons except as set forth below); provided, however, that such counsel related shall be satisfactory to such proceedingthe Indemnified Person. After notice from Notwithstanding the indemnifying party Indemnifying Person’s election to such indemnified party of its election so appoint counsel to assume represent the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party Indemnified Person in connection with an action, the defense thereof. In any such proceeding, any indemnified party Indemnified Person shall have the right to retain its own employ separate counsel (including local counsel), but and the fees Indemnifying Person shall bear the reasonable fees, costs and expenses of such separate counsel shall be at the expense of such indemnified party unless if (iA) the indemnifying party and use of counsel chosen by the indemnified party shall have mutually agreed Indemnifying Person to represent the retention Indemnified Person would present such counsel with a conflict of such counselinterest, (iiB) the named parties to actual or potential defendants in, or targets of, any such proceeding (including any impleaded parties) action include both the indemnifying party Indemnified Person and the indemnified party Indemnifying Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that and/or other Indemnified Persons which are different from or in addition additional to those available to the indemnifying partyIndemnifying Person, (C) the Indemnifying Person shall not have employed counsel satisfactory to the Indemnified Person to represent the Indemnified Person within a reasonable time after notice of the institution of such action or (D) the Indemnifying Person shall authorize the Indemnified Person to employ separate counsel at the expense of the Indemnifying Person. It is understood and agreed that the indemnifying party Indemnifying Person shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings proceeding in the same jurisdiction, be liable for the reasonable fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties Indemnified Persons and that all such reasonable fees and expenses shall be paid or reimbursed as they are incurred. If Any such separate firm for one or more of the indemnifying party does not elect to assume the defenseUnderwriters and any of their affiliates, then such firm directors and officers and their control persons, if any, shall be designated in writing by the AgentsUnderwriters, in the case of parties indemnified pursuant to Section 9(a)as applicable, and any such separate firm for the Company, its directors, its officers who signed the Registration Statement and its control persons, if any, shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shallAn Indemnifying Person will not, without the prior written consent of the indemnified partyIndemnified Persons, effect settle or compromise or consent to the entry of any settlement of judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which any indemnified party is indemnification or could have been a party and indemnity could have been contribution may be sought hereunder by (whether or not the Indemnified Persons are actual or potential parties to such indemnified party, claim or action) unless such settlement settlement, compromise or consent includes (xi) includes an unconditional release of such indemnified partyeach Indemnified Person, in form and substance reasonably satisfactory to such indemnified partyIndemnified Person, from all liability on claims that are the subject matter arising out of such proceeding claim, action, suit or proceeding; and (yii) does not include any a statement as to to, or any an admission of of, fault, culpability or a failure to act act, by or on behalf of any indemnified partyIndemnified Person. (d) To In the extent event that the indemnification indemnity provided for in Section 9(aparagraph (a) or 9(b(b) of this Section ‎10 is unavailable to an indemnified party or insufficient in respect of to hold harmless an Indemnified Person for any reason, then each Indemnifying Person agrees to contribute to the aggregate losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or and liabilities (iincluding legal or other expenses reasonably incurred in connection with investigating or defending the same) (collectively, “Losses”) to which the Company and one or more of the Underwriters may be subject in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany, on the one hand, and the AgentsUnderwriters, on the other handother, from the offering and sale of the Shares or (ii) if pursuant to this Agreement. If the allocation provided by clause (i) above the immediately preceding sentence is not permitted by applicable lawunavailable for any reason, the Company and the Underwriters severally shall contribute in such proportion as is appropriate to reflect not only the such relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesCompany, on the one hand, and of the AgentsUnderwriters, on the other handother, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, Losses as well as any other relevant equitable considerations. The relative benefits Benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, in connection with the offering of the Shares Company shall be deemed to be in the same respective proportions as equal to the total net proceeds from the offering sale of the Shares (before deducting expenses) received by the Transaction Entities it, and the total discounts and commissions benefits received by the Agents Underwriters shall be deemed to be equal to the total underwriting discounts and commissions, in connection with each case as set forth on the offering cover page of the Shares, bear to the aggregate Gross Sales Price of the SharesFinal Prospectus Supplement. The relative Relative fault of the Transaction EntitiesCompany, on the one hand, and the AgentsUnderwriters, on the other handother, shall be determined by reference to, among other things, whether the any untrue or any alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by each such party, the Transaction Entities or by intent of the Agents parties and the parties’ their relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The Agents’ respective obligations . (e) In no case shall any Underwriter (except as may be provided in any agreement among underwriters relating to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint) be responsible for any amount pursuant to this paragraph ‎10(e) in excess of the underwriting discount or commission applicable to the Shares purchased by such Underwriter hereunder. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or and equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that which does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9paragraph ‎10(e), no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section ‎10, each person who controls an Underwriter within the meaning of either the Act or the Exchange Act and each director, officer, employee and agent of an Underwriter shall have the same rights to contribution as such Underwriter, and each person who controls the Company within the meaning of either the Act or the Exchange Act, each officer of the Company who shall have signed the Registration Statement and each director of the Company shall have the same rights to contribution as the Company, subject in each case to the applicable terms and conditions of this paragraph ‎10(e). (f) The remedies provided for in this Section 9 ‎10 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party Indemnified Person at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Edison International)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, affiliates (within the meaning of Rule 405 under the Securities Act) and each of its and their respective directors, officers, members members, employees, representatives and employees agents and each person, if any, who controls any Agent within each Underwriter with the meaning of either Section 15 of the Securities Act or of Section 20 of the Exchange Act (eachcollectively, the “Underwriter Indemnified Parties,” and each an “Agent Underwriter Indemnified Party”) from and against any and all losses, claims, damages damages, expenses and liabilities (includingor any action, without limitationinvestigation or proceeding in respect thereof to which such Underwriter Indemnified Party may become subject, any legal under the Securities Act or other expenses reasonably incurred in connection with defending otherwise, insofar as such losses, claims, damages, expenses, liabilities, actions, investigations or investigating any such action or claim) arising proceedings arise out of or is based upon (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or the Prospectus or any amendment or supplement thereto or in any Permitted Free Writing Prospectusother materials or information provided to investors by, or arising out of with the approval of, the Company in connection with the offering, including, without limitation, in any “road show” (as defined in Rule 433 under the Securities Act) for the offering, or based upon (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages damages, expenses or liabilities actions, investigations or proceedings arise out of or are arising out or based upon any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with written information furnished to the Agent InformationCompany by any Underwriter expressly for use therein, which information the parties hereto agree is limited to the Underwriters’ Information (as defined in Section 16), or (iii) any act or failure to act, or any alleged act or failure to act, by any Underwriter in connection with, or relating in any manner to, the offering, and which is included as part of or referred to in any loss, claim, damage, expense, liability, action, investigation or proceeding arising out of or based upon matters covered by subclause (i) or (ii) above of this Section 9(a) (provided that the Company shall not be liable in the case of any matter covered by this subclause (iii) to the extent that it is determined in a final judgment by a court of competent jurisdiction that such loss, claim, damage, expense or liability resulted directly from any such act or failure to act undertaken or omitted to be taken by such Underwriter through its gross negligence or willful misconduct), and shall reimburse the Underwriter Indemnified Party promptly upon demand for any legal fees or other expenses reasonably incurred by that Underwriter Indemnified Party in connection with investigating, or preparing to defend, or defending against, or appearing as a third party witness in respect of, or otherwise incurred in connection with, any such loss, claim, damage, expense, liability, action, investigation or proceeding, as such fees and expenses are incurred. This indemnity agreement is not exclusive and will be in addition to any liability, which the Company might otherwise have and shall not limit any rights or remedies which may otherwise be available at law or in equity to each Underwriter Indemnified Party. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Company, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (collectively, the “Company Indemnified Parties” and each a “Company Indemnified Party”) from and against any and all losses, claims, damages, expenses and liabilities (or any action, investigation or proceeding in respect thereof) to which such Company Indemnified Party may become subject under the same extent Securities Act or otherwise, insofar as the foregoing indemnity from the Transaction Entities to such Agentloss, but only with respect to claim, damage, expense, liability, action, investigation or proceeding arises out of or is based upon (i) any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or the Prospectus (as amended or supplemented if the Company shall have furnished any amendment amendments or supplement thereto supplements thereto), (ii) any omission or any Permitted Free Writing Prospectusalleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only in each case (i) and (ii) to the extent that the untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information furnished to the Agent InformationCompany by the Underwriters specifically for use therein, which information the parties hereto agree is limited to the Underwriters’ Information (as defined in Section 16) and to reimburse the Company for any legal or other expenses reasonably incurred by such party in connection with investigating or preparing to defend or defending against or appearing as third party witness in connection with any such loss, claim, damage, liability, action, investigation or proceeding, as such fees and expenses are incurred. Notwithstanding the provisions of this Section 9(b), in no event shall any indemnity by an Underwriter under this Section 9(b) exceed the total compensation received by such Underwriter in accordance with Section 2. (c) In case Promptly after receipt by an indemnified party under this Section 9 of notice of the commencement of any proceeding action, the indemnified party shall, if a claim in respect thereof is to be made against an indemnifying party under this Section 9, notify such indemnifying party in writing of the commencement of that action; provided, however, that the failure to notify the indemnifying party shall not relieve it from any liability which it may have under this Section 9 except to the extent it has been materially prejudiced (including by the forfeiture of substantial rights and defenses) by such failure; and, provided, further, that the failure to notify an indemnifying party shall not relieve it from any governmental investigation) liability which it may have to an indemnified party otherwise than under this Section 9. If any such action shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or 9(b), such person (the “brought against an indemnified party”) , and it shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and party thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it shall electwishes, jointly with any other similarly notified indemnifying party similarly notifiedparty, to assume the defense thereof, of such action with counsel reasonably satisfactory to the indemnified party to represent (which counsel shall not, except with the written consent of the indemnified party and any others party, be counsel to the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceedingparty). After notice from the indemnifying party to such the indemnified party of its election so to assume the defense thereof of such action, except as provided herein, the indemnifying party shall not be liable to the indemnified party under such subsection Section 7 for any legal expenses of other counsel or any other expenses subsequently incurred by such the indemnified party in connection with the defense thereof. In any of such proceedingaction other than reasonable costs of investigation; provided, however, that any indemnified party shall have the right to retain its own counsel, employ separate counsel in any such action and to participate in the defense of such action but the fees and expenses of such counsel (other than reasonable costs of investigation) shall be at the expense of such indemnified party unless (i) the indemnifying party and employment thereof has been specifically authorized in writing by the Company in the case of a claim for indemnification under Section 9(a) or the Representatives in the case of a claim for indemnification under Section 9(b), (ii) such indemnified party shall have mutually agreed been advised by its counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the retention of such counselindemnifying party, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain assume the defense of such action and employ counsel reasonably satisfactory to the indemnified party within a reasonable period of time after notice of the commencement of the action or (iv) the indemnifying party does not diligently defend the action after assumption of the defense, in which case, if such indemnified party shall have reasonably concluded notifies the indemnifying party in writing that there may be legal defenses available it elects to it that are different from or in addition to those available to employ separate counsel at the expense of the indemnifying party. It is understood , the indemnifying party shall not have the right to assume the defense of (or, in the case of a failure to diligently defend the action after assumption of the defense, to continue to defend) such action on behalf of such indemnified party and the indemnifying party shall be responsible for legal or other expenses subsequently incurred by such indemnified party in connection with the defense of such action; provided, however, that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding one such action or separate but substantially similar or related proceedings actions in the same jurisdictionjurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees and expenses of more than one separate firm (in addition to one local counsel) of attorneys at any time for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect (in addition to assume the defenseany local counsel), then such which firm shall be designated in writing by the Agents, in Representatives if the case indemnified parties under this Section 9 consist of parties indemnified pursuant to Section 9(a), and any Underwriter Indemnified Party or by the Company in if the case of indemnified parties indemnified pursuant to under this Section 9(b). The indemnifying party shall not be liable for any settlement 9 consist of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiffCompany Indemnified Parties. Subject to this Section 9(c), the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability amount payable by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for under Section 9 shall include, but not be limited to, (x) reasonable legal fees and expenses of counsel to the indemnified party and any other expenses in investigating, or preparing to defend or defending against, or appearing as contemplated by the second a third party witness in respect of, or otherwise incurred in connection with, any action, investigation, proceeding or claim, and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any (y) all amounts paid in settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered intoforegoing. No indemnifying party shall, without the prior written consent of the indemnified partyparties, effect any settlement settle or compromise or consent to the entry of judgment with respect to any pending or threatened proceeding action or any claim whatsoever, in respect of which any indemnification or contribution could be sought under this Section 9 (whether or not the indemnified party is parties are actual or could have been a party and indemnity could have been sought hereunder by such indemnified partypotential parties thereto), unless such settlement settlement, compromise or consent (xi) includes an unconditional release of such each indemnified party, party in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter arising out of such proceeding action or claim and (yii) does not include any a statement as to or any an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. Subject to the provisions of the following sentence, no indemnifying party shall be liable for settlement of any pending or threatened action or any claim whatsoever that is effected without its written consent (which consent shall not be unreasonably withheld or delayed), but if settled with its written consent, if its consent has been unreasonably withheld or delayed or if there be a judgment for the plaintiff in any such matter, the indemnifying party agrees to indemnify and hold harmless any indemnified party from and against any loss or liability by reason of such settlement or judgment. In addition, if at any time an indemnified party shall have requested that an indemnifying party reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated herein effected without its written consent if (i) such settlement is entered into more than forty-five (45) days after receipt by such indemnifying party of the request for reimbursement, (ii) such indemnifying party shall have received notice of the terms of such settlement at least thirty (30) days prior to such settlement being entered into and (iii) such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement. (d) To the extent If the indemnification provided for in Section 9(a) or 9(b) is unavailable or insufficient to hold harmless an indemnified party under Section 9(a) or insufficient in respect of any losses, claims, damages or liabilities referred to therein9(b), then each indemnifying party under such paragraphsection shall, in lieu of indemnifying such indemnified party thereunderparty, shall contribute to the amount paid paid, payable or payable otherwise incurred by such indemnified party as a result of such lossesloss, claimsclaim, damages damage, expense or liabilities liability (or any action, investigation or proceeding in respect thereof), as incurred, (i) in such proportion as is shall be appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares Offered ADSs, or (ii) if the allocation provided by clause (i) above of this Section 9(d) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above of this Section 9(d) but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other handwith respect to the statements, in connection with the statements omissions, acts or omissions that failures to act which resulted in such lossesloss, claimsclaim, damages damage, expense or liabilitiesliability (or any action, investigation or proceeding in respect thereof) as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, in connection with respect to the offering of the Shares Offered ADSs shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares Offered ADSs (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the SharesOffered ADSs. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company on the one hand or by the Agents Underwriters on the other, the intent of the parties and the parties’ their relative intent, knowledge, access to information and opportunity to correct or prevent such statement untrue statement, omission, act or omissionfailure to act; provided that the parties hereto agree that the written information furnished to the Company by the Underwriters for use in the Preliminary Prospectus, any Registration Statement or the Prospectus, or in any amendment or supplement thereto, consists solely of the Underwriters’ Information as defined in Section 16. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or and equitable if contribution contributions pursuant to this Section 9 9(d) were to be determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take into account of the equitable considerations referred to in this Section 9(d). The amount paid or payable by an indemnified party as a result of the lossesloss, claimsclaim, damages and liabilities damage, expense, liability, action, investigation or proceeding referred to above in this Section 9(d) shall be deemed to include, subject to the limitations set forth abovefor purposes of this Section 9(d), any legal or other expenses reasonably incurred by such indemnified party in connection with investigating investigating, preparing to defend or defending any such action against or claim. Notwithstanding the provisions of this Section 9, no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified appearing as a third party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained witness in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Gw Pharmaceuticals PLC)

Indemnity and Contribution. (a) Each of the The Transaction Entities, jointly and severally, agrees agree to indemnify and hold harmless the Agents, the Forward Sellers, the Forward Purchasers and each Agent, its of their respective affiliates, directors, officers, members directors and employees officers and each person, if any, who controls any Agent the respective Agents, Forward Sellers and Forward Purchasers within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any reasonable out of pocket legal or fees and other expenses reasonably incurred in connection with defending or investigating any such suit, action or claimproceeding or any claim asserted, as such fees and expenses are incurred), that arise out of, or are based upon, (i) arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereof, any preliminary prospectus, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, thereto) or arising out of or based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein therein, not misleading, or (ii) any untrue statement or alleged untrue statement of a material fact contained in the Prospectus (or any amendment or supplement thereto), any Permitted Free Writing Prospectus (or any amendment or supplement thereto), any “issuer information” filed or required to be filed pursuant to Rule 433(d) under the Act or any road show as defined in Rule 433(h) under the Act (a “road show”), or arising out of or based upon any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent InformationCounterparty Information furnished to the Transaction Entities in writing by any Agent, Forward Seller or Forward Purchaser expressly for use therein. (b) Each Agent agreesof the Agents, the Forward Sellers and the Forward Purchasers severally and not jointly, agrees to indemnify and hold harmless each Transaction Entityof EQR and ERP, the Company’s their trustees, directors, officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities EQR or ERP within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agentset forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statements statement or omissions, omission or alleged untrue statements statement or omissions, omission made in the Registration Statement or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Agent, Forward Seller or Forward Purchaser furnished to EQR or ERP in writing by any Agent, Forward Seller or Forward Purchaser expressly for use in the Agent Registration Statement (or any amendment thereto), the Prospectus (or any amendment or supplement thereto), any Permitted Free Writing Prospectus (or any amendment or supplement thereto) or any road show; provided that, for purposes of this Agreement, the only information so furnished shall be (i) the names of the Agents, the Forward Sellers and the Forward Purchasers, (ii) the third sentence in the first paragraph under “Plan of Distribution” in the Prospectus, and (iii) such other statements as may have been furnished, by notice given to EQR and ERP in writing after the date of this Agreement, to EQR and ERP by the Agents, the Forward Sellers or the Forward Purchasers specifically for inclusion in the Registration Statement (or any amendment thereto), any amendment or supplement to the Prospectus, any Permitted Free Writing Prospectus (or any amendment thereto) or any road show (collectively, the “Counterparty Information”). (c) In case If any suit, action, proceeding (including any governmental or regulatory investigation) ), claim or demand shall be instituted involving brought or asserted against any person in respect of which indemnity indemnification may be sought pursuant to either Section 9(a) or 9(b)) above, such person (the “indemnified partyIndemnified Person”) shall notify as promptly notify as reasonably practicable the person against whom such indemnity indemnification may be sought (the “indemnifying partyIndemnifying Person”) in writing and writing; provided that the indemnifying party failure to notify the Indemnifying Person shall be entitled to participate therein and, not relieve it from any liability that it may have under this Section 9 except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided further, that the failure to notify the Indemnifying Person shall elect, jointly with not relieve it from any other indemnifying party similarly notified, liability that it may have to assume an Indemnified Person otherwise than under this Section 9. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the defense Indemnifying Person thereof, with the Indemnifying Person shall retain counsel reasonably satisfactory to the indemnified party Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to represent the indemnified party Indemnified Person and any others entitled to indemnification pursuant to this Section 9 that the indemnifying party Indemnifying Person may designate in such proceeding and shall pay the fees and disbursements expenses of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof, as incurred. In any such proceeding, any indemnified party Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party Indemnified Person unless (i) the indemnifying party Indemnifying Person and the indemnified party Indemnified Person shall have mutually agreed to the retention of such counselcontrary, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or Indemnified Person, (iviii) the indemnified party Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying partyIndemnifying Person, or (iv) the named parties in any such proceeding (including any impleaded parties) included both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood and agreed that the indemnifying party Indemnifying Person shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings proceeding in the same jurisdiction, be liable for the reasonable fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties (A) the Agents, the Forward Sellers and the Forward Purchasers and their respective affiliates, directors and officers and control persons, if any, or (B) the Transaction Entities, their trustees, directors, their officers who signed the Registration Statement and their control persons, if any, as the case may be, and that all such reasonable fees and expenses shall be paid or reimbursed as they are incurred. If Any such separate firm for the indemnifying party does not elect to assume Agents, the defenseForward Sellers, then such firm the Forward Purchasers and their respective affiliates, directors and officers and their control persons, if any, shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a)Forward Sellers and the Forward Purchasers, and any such separate firm for the Transaction Entities, their trustees, directors, their officers who signed the Registration Statement and their control persons, if any, shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)EQR or ERP. The indemnifying party Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party Indemnifying Person agrees to indemnify the indemnified party each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party Indemnifying Person shall, without the prior written consent of the indemnified partyIndemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party Indemnified Person is or could have been a party and indemnity indemnification is or could have been sought hereunder by such indemnified partyIndemnified Person, unless such settlement (x) includes an unconditional release of such indemnified partyIndemnified Person, in form and substance reasonably satisfactory to such indemnified partyIndemnified Person, from all liability on claims that are the subject matter of such proceeding proceeding, and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyIndemnified Person. Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall have requested an Indemnifying Person to reimburse the Indemnified Person for fees and expenses of counsel as contemplated by this Section 9(c), the Indemnifying Person agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 45 days after receipt by such Indemnifying Person of the aforesaid request, (ii) such Indemnifying Person shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into, and (iii) such Indemnifying Person shall not have reimbursed the Indemnified Person in accordance with such request prior to the date of such settlement. (d) To the extent If the indemnification provided for in Section Sections 9(a) or and 9(b) above is unavailable to an indemnified party Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party Indemnifying Person under such paragraphSections, in lieu of indemnifying such indemnified party Indemnified Person thereunder, shall contribute to the amount paid or payable by such indemnified party Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesEQR and ERP, on the one hand, and the Agents, the Forward Purchasers and the Forward Sellers on the other handother, from the offering of the Shares Securities pursuant to this Agreement and any Terms Agreements or Forward Contracts, or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction Entitieseither EQR and ERP, on the one hand, and of the Agents, the Forward Sellers and the Forward Purchasers, on the other handother, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesEQR and ERP, on the one hand, and the Agents, the Forward Sellers and the Forward Purchasers, on the other handother, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as (w) with respect to EQR and ERP, the total sum of (A) the net proceeds from the offering of the Shares (before deducting expenses) received by EQR from the Transaction Entities sale of the Issuance Securities from each Issuance pursuant to this Agreement and any Terms Agreements and the total discounts and commissions received by the Agents in connection with the offering of the Shares, therewith bear to the aggregate Gross Sales Price of such Issuance Securities, and (B) the SharesActual Sold Forward Amount for each Forward pursuant to this Agreement multiplied by the Forward Hedge Price for such Forward (the “Net Forward Proceeds”) bear to the sum of the Net Forward Proceeds and the Actual Forward Commission (as defined below) (such sum, the “Gross Forward Amount”), (x) with respect to the Agents, the total commission received by the Agents bear to the aggregate public offering price of the Issuance Securities, (y) with respect to the Forward Sellers, the Actual Sold Forward Amount for each Forward pursuant to this Agreement, multiplied by the Forward Hedge Selling Commission for such Forward (the “Actual Forward Commission”) bear to the Gross Forward Amount, and (z) with respect to the Forward Purchasers, the net Spread (as such term is defined in the Master Forward Confirmation and net of any stock borrow costs or other costs or expenses actually incurred) for all Forward Contracts executed in connection with this Agreement bear to the Gross Forward Amount. The relative fault of the Transaction EntitiesEQR and ERP, on the one hand, and the Agents, Forward Sellers and Forward Purchasers, on the other handother, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by EQR or ERP, on the Transaction Entities one hand, or by the Agents Agents, the Forward Sellers and the Forward Purchasers, on the other hand, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities and the Agents Agents, the Forward Sellers and the Forward Purchasers agree that it would not be just or and equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)) above. The amount paid or payable by an indemnified party Indemnified Person as a result of the losses, claims, damages and liabilities referred to in Section 9(d) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party Indemnified Person in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, in no Agent event shall the Agents, the Forward Sellers or the Forward Purchasers, as applicable, be required to contribute any amount in excess of the amount by which which, in the case of the Agents, the total discounts and commissions received by such Agent the Agents with respect to the offering of Issuance Securities pursuant to this Agreement or any Terms Agreement, or, in connection the case of the Forward Sellers and the Forward Purchasers, the total discounts and commissions received by the Forward Sellers with respect to the offering of the Shares Forward Hedge Securities sold by the Forward Sellers, exceeds the amount of any damages that such Agent has the applicable Agents, Forward Sellers or Forward Purchasers have otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. . (f) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents, the Forward Sellers and the Forward Purchasers under this Agreement are several and not joint. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Transaction Entities are joint and several. (h) The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party Indemnified Person at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Distribution Agreement (Erp Operating LTD Partnership)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, the Basic Prospectus, any preliminary prospectusPreliminary Prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show as defined in Rule 433(h) under the Securities Act (a “road show”), or the Prospectus or any amendment or supplement thereto thereto, or any Permitted Free Writing ProspectusWritten Testing-the-Waters Communication, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters consists of the information described as such in paragraph (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter expressly for use in the Registration Statement Statement, any Preliminary Prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or any amendment thereof, the Prospectus or any amendment or supplement thereto or thereto, it being understood and agreed that the only such information furnished by any Permitted Free Writing Prospectus, Underwriter consists of the following: the information relating to market making in reliance upon the third paragraph under the caption “Underwriting,” the concession figure appearing in the fifth paragraph under the caption “Underwriting,” the information relating to stabilizing transactions contained in the fourteenth paragraph under the caption “Underwriting” and the information regarding internet distribution appearing in conformity with the Agent Informationtwentieth paragraph under the caption “Underwriting. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsUnderwriters, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (xi) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (yii) does not include any a statement as to or any an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Price of the SharesPublic Offering Price. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Immuneering Corp)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachand each director, an “Agent Indemnified Party”) officer and affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication, or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ consists of the information described as such in paragraph (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or any amendment thereof, the Prospectus or any amendment or supplement thereto or thereto, it being understood and agreed that the only such information furnished by any Permitted Free Writing Prospectus, Underwriter consists of the following: the concession figures appearing in reliance upon the third paragraph under the caption “Underwriters,” the information relating to stabilizing transactions contained in the thirteenth paragraph under the caption “Underwriters” and the information regarding internet distribution appearing in conformity with the Agent Informationfifteenth paragraph under the caption “Underwriters. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred and documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, them or (iii) the indemnifying party person has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Biodesix Inc)

Indemnity and Contribution. (a) Each of The Fund, the Transaction EntitiesInvestment Adviser and the Administrator, jointly and severally, agrees agree to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act and each partner, director, officer, trustee, manager, member and shareholder of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Underwriter Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) ), caused by, arising out of of, related to or based upon (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, any Omitting Prospectus, any Road Show Material, the Time of Sale Prospectus, or the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectusthereto, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities are arising out or based upon caused by any such untrue statement or omission or alleged untrue statement or omission made in based upon the Registration Statement Underwriter Information, (ii) any action or claim by NEXT Financial Group, Inc. or any amendment thereofaffiliate, partner, director, officer, trustee, manager, member or shareholder of NEXT Financial Group, Inc. or (iii) any action or claim by any of C▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Perrarus Management Company (“Perrarus”), any partner, director, officer, trustee, manager, member or shareholder of Perrarus or by any other organization of which M▇. ▇▇▇▇▇ or Perrarus is a partner, director, officer, trustee, manager, member or shareholder; provided, however, that the Prospectus Fund shall not have any obligation to an Underwriter Indemnified Party under this clause (iii) to the extent such losses, claims, damages or any Permitted Free Writing Prospectus, in reliance upon and in conformity with liabilities are finally judicially determined by a court of competent jurisdiction to have resulted solely from the Agent Informationactions of such Underwriter Indemnified Party. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entityof the Fund, the Company’s Investment Adviser and the Administrator, and each of their respective partners, directors, officers trustees, managers, members and shareholders (as the case may be), and each officer of the Fund who signed signs the Registration Statement and each person, if any, who controls either of the Transaction Entities Fund, the Investment Adviser and/or the Administrator within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, a “Fund Indemnified Party”) to the same extent as the foregoing indemnity from the Transaction Entities Fund, the Investment Adviser and the Administrator to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made written information relating to the Underwriters furnished to the Fund by the Representative on behalf of any Underwriter expressly for use in the Registration Statement Statement, as originally filed with the Commission, or any amendment thereof, any preliminary prospectus, any Omitting Prospectus, any Road Show Material or the Time of Sale Prospectus (the “Underwriter Information”). The Fund acknowledges the Underwriter Information consists only of the statements set forth (i) in the last paragraph of the cover page of the Prospectus or any amendment or supplement thereto or any Permitted Free Writing ProspectusSupplement regarding delivery of the Securities and (ii) under the heading, “Underwriting” in reliance upon the Preliminary Prospectus Supplement and Final Prospectus Supplement, (a) the list of Underwriters and their respective participation in conformity with the Agent Informationsale of the Securities, (b) the sentences related to concessions and reallowances and (c) the paragraphs related to stabilization, syndicate covering transactions and penalty bids. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements reasonably incurred of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the use of counsel chosen by the indemnifying party to represent the indemnified party would present such counsel with an actual conflict of interest, or (iii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that and/or other indemnified parties which are different from or in addition additional to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses reasonably incurred of more than one separate firm (in addition to one any local counsel) for all such indemnified parties Underwriter Indemnified Parties, collectively, and that all such reasonable (ii) the fees and expenses shall be reimbursed as they are incurredreasonably incurred of more than one separate firm (in addition to any local counsel) for all Fund Indemnified Parties, collectively. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriter Indemnified Parties, then such firm shall be designated in writing by the Agents, in Representative. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Fund Indemnified Parties, and such firm shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)Fund. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be is a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for the reasonable fees and expenses of counsel as contemplated by the second and third sentences of this paragraphSection 8(c), the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; , (ii) such indemnifying party shall have received notice of the material terms of such settlement at least 30 days prior to such settlement being entered into, and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyproceeding. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesFund, the Investment Adviser and/or the Administrator on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction EntitiesFund, the Investment Adviser and/or the Administrator on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesFund, the Investment Adviser and/or the Administrator on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Fund and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus Supplement, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction EntitiesFund, the Investment Adviser and/or the Administrator on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Fund, the Investment Adviser or the Administrator or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Fund, the Investment Adviser, the Administrator and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Fund, the Investment Adviser and the Administrator contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent Underwriter Indemnified Party or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity Fund Indemnified Party and (iii) any acceptance of and payment for any of the Shares. (g) For purposes No party shall be entitled to indemnification under this Section 8 if such indemnification of clarity and without limitation to any provision of this Agreement, the obligations such party would violate Section 17(i) of the Agents under this Agreement are several and not jointInvestment Company Act.

Appears in 1 contract

Sources: Underwriting Agreement (GSV Capital Corp.)

Indemnity and Contribution. (a) Each of the Transaction EntitiesSelling Shareholder agrees, jointly severally and severallynot jointly, agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or ADS Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any communication with potential investors undertaken in reliance on Section 5(d) or, or Rule 163B under, the Securities Act (“Testing-the-Waters Communication”) or that arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, (A) except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with the Registration Statement Underwriter Information (as defined in Section 8(b) hereof) and (B) with respect to AEPL only, provided that such losses, claims, damages or liabilities arise out of, or are based upon, any amendment thereof, the Prospectus such untrue statement or any Permitted Free Writing Prospectus, omission or alleged untrue statement or omission made in reliance upon and in conformity with the Agent InformationAEPL Information (as defined in Section 1(k) hereof). The liability of each Selling Shareholder under the indemnity agreement contained in this paragraph shall be limited to an amount equal to the aggregate net proceeds, after underwriting discounts and commissions but before deducting expenses, of the ADSs sold by such Selling Shareholder under this Agreement. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s directors, officers who signed the Registration Statement Selling Shareholders and each person, if any, who controls either of the Transaction Entities any Selling Shareholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such Agentaction or claim) that arise out of, but only with respect to or are based upon, any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or ADS Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show or the Prospectus or any amendment or supplement thereto thereto, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement, the ADS Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, it being understood and agreed upon that the only such information furnished by any Underwriter consists of the following information in reliance upon the Prospectus furnished on behalf of each Underwriter: the concession and reallowance figures appearing in conformity with the Agent third paragraph, and the thirteenth paragraph, all under the caption “Underwriting” (the “Underwriter Information”). (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b)8(b) hereof, such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and writing; provided that the failure to notify the indemnifying party shall be entitled to participate therein and, not relieve it from any liability it may have under the preceding paragraphs of this Section 8 except to the extent that it shall elect, jointly with any other has been materially prejudiced (through the forfeiture of substantive rights and defenses) by such failure; and provided further that the failure to notify the indemnifying party similarly notifiedshall not relieve it from any liability that it may have to an indemnified party otherwise than under the preceding paragraphs of this Section 8. The indemnifying party, to assume upon request of the defense thereofindemnified party, with shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonable and documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act and (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for all Selling Shareholders and all persons, if any, who control any Selling Shareholder within the meaning of either such indemnified parties Section, and that all such reasonable and documented fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons and affiliates of any Underwriters, then such firm shall be designated in writing by the Agents, in Representatives. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Selling Shareholders and such control persons of any Selling Shareholders, and such firm shall be designated in writing by the Company in persons named as attorneys-in-fact for the case Selling Shareholders under the Powers of parties indemnified pursuant to Section 9(b)Attorney. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any such indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) hereof is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares ADSs or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company and the Selling Shareholders on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares ADSs shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares ADSs (before deducting expenses) received by the Transaction Entities each Selling Shareholder and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the SharesADSs. The relative fault of the Transaction Entities, Company and the Selling Shareholders on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company and the Selling Shareholders or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of ADSs they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth liability of each Selling Shareholder under the contribution agreement contained in Section 9(c) hereof with respect this paragraph shall be limited to notice the aggregate net proceeds, after underwriting discounts and commissions but before deducting expenses, of commencement of any action shall apply if a claim for contribution is to be made the ADSs sold by such Selling Shareholder under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnificationAgreement. (e) The Transaction Entities Selling Shareholders and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts price at which the ADSs underwritten by it and commissions received by such Agent in connection with distributed to the offering of public were offered to the Shares public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Selling Shareholders contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter, by or on behalf of any Selling Shareholder or any person controlling any Selling Shareholder, or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the SharesADSs. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Joint Stock Co Kaspi.kz)

Indemnity and Contribution. (a) Each of The Company and the Transaction EntitiesPartnership, jointly and severally, agrees agree to indemnify indemnify, defend and hold harmless each Agentthe Underwriters, its the Forward Purchaser and the Forward Seller, their affiliates, directorsas such term is defined in Rule 501(b) of the Securities Act Regulations, officers, members and employees their selling agents and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) and the successors and assigns of all of the foregoing persons from and against any and all lossesloss, claimsdamage, damages and liabilities expense, liability or claim (including, without limitationbut not limited to, the reasonable cost of investigation), as incurred, that any legal Underwriter or other expenses reasonably incurred in connection with defending or investigating any such action person may incur under the Securities Act, the Exchange Act, federal or claim) arising state statutory law or regulation, the common law or otherwise, insofar as such loss, damage, expense, liability or claim arises out of or is based upon (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or in any amendment thereof, application or other document executed by or on behalf of the Company or the Partnership or based on written information furnished by or on behalf of the Company or the Partnership filed in any preliminary prospectus, jurisdiction in order to qualify the Prospectus Shares under the securities or any amendment blue sky laws thereof or supplement thereto or any Permitted Free Writing Prospectusfiled with the Commission, or arising out of or based upon any the omission or alleged omission to state therein therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities are arising out or based upon (ii) any such untrue statement or omission or alleged untrue statement or omission made of a material fact contained in the Registration Statement Base Prospectus, the Prospectus Supplement (including any preliminary prospectus supplement), any Issuer Free Writing Prospectus, any “road show” (as defined under Rule 433) not constituting an Issuer Free Writing Prospectus, the Disclosure Package or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectusomission or alleged omission to state in any such document a material fact required to be stated therein or necessary to make the statements made therein, in reliance the light of the circumstances under which they were made, not misleading or (iii) any act or failure to act or any alleged act or alleged failure to act by any Underwriter in connection with, or relating in any manner to, the Shares or the offering contemplated hereby, and which is included as part of or referred to in any loss, damage, expense, liability, claim or action arising out of or based upon matters covered by clause (i) or (ii) above (provided that neither the Company nor the Partnership shall be liable under this clause (iii) to the extent it is finally judicially determined by a court of competent jurisdiction that such loss, damage, expense, liability, claim or action resulted directly from any such acts or failures to act undertaken or omitted to be taken by any Underwriter through its gross negligence or willful misconduct), except insofar as any such loss, damage, expense, liability or claim arises out of or is based upon any untrue statement or alleged untrue statement of a material fact contained in and in conformity with the Agent Information. (b) Each Agent agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entityinformation furnished in writing by or on behalf of an Underwriter, the Company’s directors, officers who signed Forward Purchaser or the Registration Statement and each person, if any, who controls either of the Transaction Entities within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act Forward Seller to the same extent as Company expressly for use with reference to the foregoing indemnity from Underwriter, the Transaction Entities to such Agent, but only with respect to untrue statements Forward Purchaser or omissions, or alleged untrue statements or omissions, made the Forward Seller in the Registration Statement Disclosure Package or any amendment thereof, the Prospectus or arises out of or is based upon any amendment omission or supplement thereto alleged omission to state in any such document a material fact in connection with such information required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. If any action, suit or proceeding (together, a “Proceeding”) is brought against an Underwriter or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Information. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any such person in respect of which indemnity may be sought against an indemnifying party pursuant to Section 9(a) or 9(b)the foregoing paragraph, such Underwriter or such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) party in writing of the institution of such Proceeding and the such indemnifying party shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereofof such Proceeding, with including the employment of counsel reasonably satisfactory to the indemnified party to represent the such indemnified party and any others payment of all fees and expenses; provided, however, that the omission to so notify such indemnifying party shall not relieve such indemnifying party from any liability that it may designate in such proceeding and shall pay the fees and disbursements of such counsel related have to such proceeding. After notice from Underwriter or any such person or otherwise, except to the extent such indemnifying party has been materially prejudiced by such failure; provided, further, that the failure to notify such indemnifying party shall not relieve it from any liability it may have to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel Underwriter or any other expenses subsequently incurred by such indemnified party in connection with the defense thereofperson otherwise than under this Section 9(a). In any An Underwriter or such proceeding, any indemnified party controlling person shall have the right to retain employ its or their own counselcounsel in any such case, but the fees and expenses of such counsel shall be at the expense of such indemnified party Underwriter or such person unless (i) the employment of such counsel shall have been authorized in writing by such indemnifying party and in connection with the indemnified defense of such Proceeding or such indemnifying party shall have mutually agreed to the retention of such counselnot have, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable period of time to retain in light of the circumstances, employed counsel reasonably satisfactory to the Underwriters (as approved by the Representatives) to have charge of the defense of such Proceeding or such indemnified party or (iv) the indemnified party parties shall have reasonably concluded that there may be legal defenses available to it that or them which are different from in conflict with or in addition to those available to the such indemnifying party. It is understood that the party (in which case such indemnifying party shall notnot have the right to direct the defense of such Proceeding on behalf of the indemnified party or parties, but such indemnifying party may employ counsel and participate in the defense thereof but the fees and expenses of such counsel shall be at the expense of such indemnifying party), in respect any of the legal which events such fees and expenses of any indemnified shall be borne by such indemnifying party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdictionand paid as incurred (it being understood, however, that such indemnifying party shall not be liable for the fees and expenses of more than one separate firm counsel (in addition to one other than local counsel) for all such in any one Proceeding or series of related Proceedings in the same jurisdiction representing the indemnified parties and that all who are parties to such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(bProceeding). The An indemnifying party shall not be liable for any settlement of any proceeding such Proceeding effected without its written consent, consent (which shall not be unreasonably withheld) but if settled with such the written consent or if there be a final judgment for of the plaintiffindemnifying party, the indemnifying party agrees to indemnify the indemnified party and hold harmless such Underwriter and any such person from and against any loss or liability by reason of such settlement or judgmentsettlement. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraphSection 9(a), the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding Proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding Proceeding and (y) does not include any statement as to or any an admission of fault, culpability or a failure to act act, by or on behalf of any such indemnified party. (db) To The Underwriters agree, severally and not jointly, to indemnify, defend and hold harmless the Company, its officers employees and trustees, the Partnership and any person who controls the Company or the Partnership within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act from and against any loss, damage, expense, liability or claim (including, but not limited to, the reasonable cost of investigation), as incurred, which, jointly or severally, the Company, the Partnership or any such person may incur under the Securities Act, the Exchange Act, federal or state statutory law or regulation, the common law or otherwise, insofar as such loss, damage, expense, liability or claim arises out of or is based upon any untrue statement or alleged untrue statement of a material fact contained in and in conformity with information furnished in writing by or on behalf of an Underwriter to the Company expressly for use with reference to the Underwriter in the Disclosure Package or the Prospectus Supplement or arising out of or based upon any omission or alleged omission to state in any such document a material fact in connection with such information required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. The Company and the Partnership hereby acknowledge that the only information that the Underwriters have furnished to the Company expressly for use in the Disclosure Package or the Prospectus Supplement are (i) the first and third sentences of the third paragraph and (ii) the ninth paragraph under the caption “Underwriting” in the Prospectus Supplement. If any Proceeding is brought against the Company, the Partnership or any such person in respect of which indemnity may be sought against an indemnifying party pursuant to the foregoing paragraph, the Company, the Partnership or such person shall promptly notify such indemnifying party in writing of the institution of such Proceeding and such indemnifying party shall assume the defense of such Proceeding, including the employment of counsel reasonably satisfactory to such indemnified party and payment of all fees and expenses; provided, however, that the omission to so notify such indemnifying party shall not relieve such indemnifying party from any liability that it may have to the Company, the Partnership or any such person or otherwise, except to the extent such indemnifying party has been materially prejudiced by such failure; provided, further, that the failure to notify such indemnifying party shall not relieve it from any liability it may have to the Company, the Partnership or any such person otherwise than under this Section 9(b). The Company, the Partnership or such controlling person shall have the right to employ its or their own counsel in any such case, but the fees and expenses of such counsel shall be at the expense of the Company, the Partnership or such person unless the employment of such counsel shall have been authorized in writing by such indemnifying party in connection with the defense of such Proceeding or such indemnifying party shall not have, within a reasonable period of time in light of the circumstances, employed counsel reasonably satisfactory to the Company, the Partnership or such person to have charge of the defense of such Proceeding or such indemnified party or parties shall have reasonably concluded that there may be defenses available to it or them which are in conflict with or in addition to those available to such indemnifying party (in which case such indemnifying party shall not have the right to direct the defense of such Proceeding on behalf of the indemnified party or parties, but such indemnifying party may employ counsel and participate in the defense thereof but the fees and expenses of such counsel shall be at the expense of such indemnifying party), in any of which events such fees and expenses shall be borne by such indemnifying party and paid as incurred (it being understood, however, that such indemnifying party shall not be liable for the expenses of more than one separate counsel (other than local counsel) in any one Proceeding or series of related Proceedings in the same jurisdiction representing the indemnified parties who are parties to such Proceeding). An indemnifying party shall not be liable for any settlement of any such Proceeding effected without its written consent (which shall not be unreasonably withheld) but if settled with the written consent of the indemnifying party, the indemnifying party agrees to indemnify and hold harmless the Company, the Partnership and any such person from and against any loss or liability by reason of such settlement. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by this Section 9(b), the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened Proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such Proceeding and does not include an admission of fault, culpability or a failure to act, by or on behalf of such indemnified party. (c) If the indemnification provided for in this Section 9(a) or 9(b) 9 is unavailable to an indemnified party or insufficient under subsections (a) and (b) of this Section 9 in respect of any losses, claimsdamages, damages expenses, liabilities or liabilities claims referred to therein, then in order to provide just and equitable contribution in such circumstance, each applicable indemnifying party under such paragraphparty, in lieu of indemnifying such indemnified party thereunderparty, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claimsdamages, damages expenses, liabilities or liabilities claims (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company and the Partnership on the one handhand and any Underwriter, the Forward Purchaser and the Agents, Forward Seller on the other hand, hand from the offering of the Shares or (ii) if if, but only if, the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction Entities, Company and the Partnership on the one hand, hand and of any Underwriter, the Agents, Forward Purchaser and the Forward Seller on the other hand, in connection with the statements or omissions that which resulted in such losses, damages, expenses, liabilities or claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company and the Partnership on the one handhand and any Underwriter, the Forward Purchaser and the Agents, Forward Seller on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions proportion as the total net proceeds from the offering (net of the Shares (underwriting discounts and commissions but before deducting expenses) received by the Transaction Entities Company and the total discounts and commissions received by the Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price of the Shares. The relative fault of the Transaction Entities, on the one hand, and the Agents, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities or by the Agents and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities and the Agents agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent shall be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such Agent Underwriter (which benefits shall include the proceeds to be received by the Company pursuant to the Forward Sale Agreement and any Additional Forward Sale Agreement assuming, in connection with each case, Physical Settlement thereof on the offering of Effective Date (as such term is defined in the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue Forward Sale Agreement or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this relevant Additional Forward Sale Agreement, (ii) any investigation made by or on behalf of any Agentas applicable)), any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any bear to the aggregate public offering price of the Shares. (g) For purposes , or with respect to the Forward Seller and the Forward Purchaser, the aggregate spread received by affiliates of clarity the Forward Seller under the Forward Sale Agreement and without limitation to any provision of this Additional Forward Sale Agreement, net of any costs associated therewith, as reasonably determined by the obligations of Forward Seller, bear to the Agents under this Agreement are several and not joint.aggregate offering price, as applicable. The relative

Appears in 1 contract

Sources: Underwriting Agreement (Acadia Realty Trust)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachand each director, an “Agent Indemnified Party”) officer and affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication, or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent Company in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the Underwriter Information, as defined in paragraph (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or any amendment thereof, the Prospectus or any amendment or supplement thereto or (“Underwriter Information”), it being understood and agreed that the only such information furnished by any Permitted Free Writing Prospectus, Underwriter consists of the following: the concession figures appearing in reliance upon the third paragraph under the caption “Underwriting,” the information regarding sales to discretionary accounts in the eighth paragraph under the caption “Underwriting,” the information relating to stabilizing transactions contained in the thirteenth paragraph under the caption “Underwriting” and the information regarding internet distribution appearing in conformity with the Agent Informationfifteenth paragraph under the caption “Underwriting. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 60 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any a statement as to or any an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (after deducting underwriters discounts and commissions but before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Couchbase, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify indemnify, defend and hold harmless each Agentthe Underwriter, its affiliatespartners, directors, directors and officers, members and employees and each person, if any, any person who controls any Agent the Underwriter within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) and the successors and assigns of all of the foregoing persons, from and against any and all losses, claimsdamages, damages and expenses, liabilities or claims (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising which, the Underwriter or any such person may incur under the Act, the Exchange Act, the common law or otherwise, insofar as such losses, damages, expenses, liabilities or claims arise out of or are based upon (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or in the Registration Statement as amended by any post-effective amendment thereof, thereof by the Company) or in a Prospectus (the term Prospectus for the purpose of this Section 10 being deemed to include any preliminary prospectusPreliminary Prospectus, the Prospectus and the Prospectus as amended or any amendment or supplement thereto or any Permitted Free Writing Prospectussupplemented by the Company), or arising arise out of or are based upon any omission or alleged omission to state therein a material fact therein required to be stated therein in either such Registration Statement or such Prospectus or necessary to make the statements made therein not misleading, except insofar as any such losses, claimsdamages, damages expenses, liabilities or liabilities claims arise out of or are arising out or based upon any such untrue statement or omission or alleged untrue statement of a material fact or omission made contained in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with information concerning the Agent Information. (b) Each Agent agrees, severally and not jointly, Underwriter furnished in writing by or on behalf of the Underwriter to indemnify and hold harmless each Transaction Entity, the Company’s directors, officers who signed the Company expressly for use in such Registration Statement and each personor such Prospectus, if any, who controls either of the Transaction Entities within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agent, but only with respect to (ii) any untrue statements or omissions, statement or alleged untrue statements statement made by the Company in Section 4 hereof or omissionsthe failure by the Company to perform when and as required any agreement or covenant contained herein, made or (iii) any untrue statement or alleged untrue statement of any material fact contained in any audio or visual materials provided by the Registration Statement Company or any amendment thereofbased upon written information furnished by or on behalf of the Company including, the Prospectus without limitation, slides, videos, films or any amendment or supplement thereto or any Permitted Free Writing Prospectus, tape recordings used in reliance upon and in conformity connection with the Agent Information. (c) In case marketing of the Shares. If any action, suit or proceeding (including any governmental investigation) shall be instituted involving (each, a “PROCEEDING”) is brought against the Underwriter or any such person in respect of which indemnity may be sought against the Company pursuant to Section 9(a) the foregoing paragraph, the Underwriter or 9(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) Company in writing of the institution of such Proceeding and the indemnifying Company shall assume the defense of such Proceeding, including the employment of counsel reasonably satisfactory to such indemnified party and payment of all fees and expenses; provided, however, that the omission to so notify the Company shall be entitled not relieve the Company from any liability which the Company may have to participate therein andthe Underwriter or any such person or otherwise, except to the extent that it shall elect, jointly with the Company is materially harmed by any other indemnifying party similarly notified, to assume delay or omission in notifying the defense thereof, with counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in Company. The Underwriter or such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party person shall have the right to retain employ its or their own counselcounsel in any such case, but the fees and expenses of such counsel shall be at the expense of the Underwriter or of such person unless the employment of such counsel shall have been authorized in writing by the Company in connection with the defense of such Proceeding or the Company shall not have, within a reasonable period of time in light of the circumstances, employed counsel to have charge of the defense of such Proceeding or such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named or parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that or them which are different from from, additional to or in addition to conflict with those available to the indemnifying party. It is understood that Company (in which case the indemnifying Company shall not have the right to direct the defense of such Proceeding on behalf of the indemnified party shall notor parties), in respect any of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one local counsel) for all such indemnified parties and that all which events such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and borne by the Company and paid as incurred (it being understood, however, that the Company shall not be liable for the expenses of more than one separate counsel (in addition to any local counsel) in any one Proceeding or series of related Proceedings in the case of same jurisdiction representing the indemnified parties indemnified pursuant who are parties to Section 9(bsuch Proceeding). The indemnifying party Company shall not be liable for any settlement of any proceeding Proceeding effected without its written consent, but if settled with such the written consent of the Company or if there be a final judgment for the plaintiff, the indemnifying party Company agrees to indemnify and hold harmless the indemnified party Underwriter and any such person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences sentence of this paragraph, then the indemnifying party agrees that it shall be liable for any settlement of any proceeding Proceeding effected without its written consent if (i) such settlement is entered into more than 30 60 days after receipt by such indemnifying party of the aforesaid request; , and (ii) such indemnifying party shall not have fully reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding Proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding Proceeding. The Company agrees to indemnify, defend and hold harmless the Underwriter and its partners, directors and officers, and any person who controls the Underwriter within the meaning of Section 15 of the Act or Section 20 of the Exchange Act, and the successors and assigns of all of the foregoing persons, from and against any losses, damages, expenses, liabilities or claims (yincluding, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) does which the Underwriter or any such person may incur under the Act, the Exchange Act, the common law or otherwise, insofar as such losses, damages, expenses, liabilities or claims arise out of or are based upon any of the matters referred to in clauses (i) through (iii) of the first paragraph of this Section 10(a). The second paragraph of this Section 10(a) shall apply equally to any Proceeding brought against the Underwriter or any such person in respect of which indemnity may be sought against the Company pursuant to the foregoing sentence. (b) The Underwriter agrees to indemnify and hold harmless the Company, the directors of the Company, the officers who sign the Registration Statement, and any person who controls the Company within the meaning of Section 15 of the Act or Section 20 of the Exchange Act from and against any losses, damages, expenses, liabilities or claims (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) which, jointly or severally, the Company or any such person may incur under the Act, the Exchange Act, the common law or otherwise, insofar as such losses, damages, expenses, liabilities or claims arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus or the Prospectus (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto), or arise our of or are based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not include misleading, but only with reference to information relating to the Underwriter furnished to the Company in writing by the Underwriter through you expressly for use in the Registration Statement, any statement as preliminary prospectus, the Prospectus or any amendments or supplements thereto. If any Proceeding is brought against the Company or any such person in respect of which indemnity may be sought against the Underwriter pursuant to the foregoing paragraph, the Company or such person shall promptly notify the Underwriter in writing of the institution of such Proceeding and the Underwriter shall assume the defense of such Proceeding, including the employment of counsel reasonably satisfactory to such indemnified party and payment of all fees and expenses; provided, however, that the omission to so notify the Underwriter shall not relieve the Underwriter from any liability which the Underwriter may have to the Company or any such person or otherwise, except to the extent that the Underwriter is materially harmed by any delay or omission in notifying the Underwriter. The Company or such person shall have the right to employ its own counsel in any such case, but the fees and expenses of such counsel shall be at the expense of the Company or such person unless the employment of such counsel shall have been authorized in writing by the Underwriter in connection with the defense of such Proceeding or the Underwriter shall not have, within a reasonable period of time in light of the circumstances, employed counsel to defend such Proceeding or such indemnified party or parties shall have reasonably concluded that there may be defenses available to it or them which are different from or additional to or any admission in conflict with those available to the Underwriter (in which case the Underwriter shall not have the right to direct the defense of fault, culpability or a failure to act by or such Proceeding on behalf of the indemnified party or parties, but the Underwriter may employ counsel and participate in the defense thereof but the fees and expenses of such counsel shall be at the expense of the Underwriter), in any of which events such fees and expenses shall be borne by the Underwriter and paid as incurred (it being understood, however, that the Underwriter shall not be liable for the expenses of more than one separate counsel (in addition to any local counsel) in any one Proceeding or series of related Proceedings in the same jurisdiction representing the indemnified parties who are parties to such Proceeding). The Underwriter shall not be liable for any settlement of any such Proceeding effected without the written consent of the Underwriter but if settled with the written consent of the Underwriter or if there be a final judgment for the plaintiff, the Underwriter agrees to indemnify and hold harmless the Company and any such person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second sentence of this paragraph, then the indemnifying party agrees that it shall be liable for any settlement of any Proceeding effected without its written consent if (i) such settlement is entered into more than 60 business days after receipt by such indemnifying party of the aforesaid request, and (ii) such indemnifying party shall not have fully reimbursed the indemnified party in accordance with such request prior to the date of such settlement. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened Proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such Proceeding. (dc) To the extent the indemnification provided for in this Section 9(a) or 9(b) 10 is unavailable to an indemnified party under subsections (a) and (b) of this Section 10 or insufficient to hold an indemnified party harmless in respect of any losses, claimsdamages, damages expenses, liabilities or liabilities claims referred to therein, then each applicable indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claimsdamages, damages expenses, liabilities or liabilities claims (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i10(c)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i10(c)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, in connection with the statements or omissions that resulted in such losses, damages, expenses, liabilities or claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriter on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering (net of the Shares (underwriting discounts and commissions but before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriter, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Price public offering price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriter on the other hand, hand shall be determined by reference to, among other things, whether the untrue statement or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriter and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriter agree that it would not be just or equitable if contribution pursuant to this Section 9 10 were determined by pro rata allocation (even if the Agents were Underwriter was treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)this subsection 10(c) above. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 910, no Agent the Underwriter shall not be required to contribute any amount in excess of the amount by which the total discounts and commissions received price at which the Shares underwritten by such Agent in connection with Underwriter and distributed to the offering of public were offered to the Shares public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue statement or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 10 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fd) The indemnity and contribution provisions agreements contained in this Section 9 10 and the covenants, warranties, representations and, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.s

Appears in 1 contract

Sources: Underwriting Agreement (Environmental Power Corp)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, the directors, officers, members officers and employees affiliates of each Underwriter within the meaning of Rule 405 under the Securities Act and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication, or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein therein, (insofar as related to the Prospectus, the Time of Sale Prospectus or any Testing-the-Waters Communication, in the light of the circumstances under which they were made), not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the information described as such in subsection (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement or Statement, any amendment thereofpreliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, the Prospectus or any amendment or supplement thereto or Testing the Waters Communication, it being understood and agreed that the only such information furnished by any Permitted Free Writing Underwriter through the Representatives consists of the following information in the Prospectus, in reliance upon and in conformity with the Agent Information: [●]. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed in writing to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons and affiliates of any Underwriters, then such firm shall be designated in writing by the Agents, in Representatives. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any a statement as to or any an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (iSection 8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (iSection 8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (after deducting underwriting discounts and commissions but before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8(f) and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent director, officer, or any affiliate of any Agent Underwriter and each person, if any, who controls any Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Fluence Energy, Inc.)

Indemnity and Contribution. (a) Each of the Transaction EntitiesEntities agrees, jointly and severally, agrees to indemnify and hold harmless each AgentBofA Securities, its affiliates, directors, officers, members employees and employees agents and each person, if any, who controls any Agent BofA Securities within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any reasonable out of pocket legal or fees and other expenses reasonably incurred in connection with defending or investigating any such suit, action or claimproceeding or any claim asserted, as such fees and expenses are incurred), that arise out of, or are based upon, (i) arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein, not misleading or (ii) any untrue statement or alleged untrue statement of a material fact contained in the Prospectus (or any amendment or supplement thereto), any Permitted Free Writing Prospectus (or any amendment or supplement thereto), or caused by any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to BofA Securities furnished to the Agent InformationCompany in writing by BofA Securities expressly for use therein, it being understood and agreed that the only such information furnished by BofA Securities consists of the information described as such in subsection (b) below. (b) Each Agent agrees, severally and not jointly, BofA Securities agrees to indemnify and hold harmless the Transaction Entities and each Transaction Entity, of the Company’s directors, directors and each of the Company’s officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agentset forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statements statement or omissions, omission or alleged untrue statements statement or omissions, omission made in reliance upon and in conformity with any information relating to BofA Securities furnished to the Company in writing by BofA Securities expressly for use in the Registration Statement or any amendment thereofStatement, the Basic Prospectus, the Prospectus (or any amendment or supplement thereto thereto) or any Permitted Free Writing Prospectus, it being understood and agreed upon that such information shall consist solely of the following: the information in reliance upon the first sentence of the third paragraph and the second sentence of the tenth paragraph under the heading “Plan of Distribution” in conformity with the Agent InformationProspectus Supplement. (c) In case If any suit, action, proceeding (including any governmental or regulatory investigation) ), claim or demand shall be instituted involving brought or asserted against any person in respect of which indemnity indemnification may be sought pursuant to either Section 9(a) or 9(b)) above, such person (the “indemnified partyIndemnified Person”) shall promptly notify the person against whom such indemnity indemnification may be sought (the “indemnifying partyIndemnifying Person”) in writing and writing; provided that the indemnifying party failure to notify the Indemnifying Person shall be entitled to participate therein and, not relieve it from any liability that it may have under this Section 9 except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall elect, jointly with not relieve it from any other indemnifying party similarly notified, liability that it may have to assume an Indemnified Person otherwise than under this Section 9. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the defense Indemnifying Person thereof, with the Indemnifying Person shall retain counsel reasonably satisfactory to the indemnified party Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to represent the indemnified party Indemnified Person and any others entitled to indemnification pursuant to this Section 9 that the indemnifying party Indemnifying Person may designate in such proceeding and shall pay the fees and disbursements expenses of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof, as incurred. In any such proceeding, any indemnified party Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party Indemnified Person unless (i) the indemnifying party Indemnifying Person and the indemnified party Indemnified Person shall have mutually agreed in writing to the retention of such counsel, contrary; (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or Indemnified Person; (iviii) the indemnified party Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying partyIndemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) included both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood and agreed that the indemnifying party Indemnifying Person shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings proceeding in the same jurisdiction, be liable for the reasonable fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties Indemnified Persons, and that all such reasonable fees and expenses shall be paid or reimbursed as they are incurred. If Any such separate firm for BofA Securities, its affiliates, directors and officers and any control persons of BofA Securities shall be designated in writing by BofA Securities and any such separate firm for the indemnifying party does not elect to assume Company, its directors, its officers who signed the defense, then such firm Registration Statement and any control persons of the Company shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party Indemnifying Person agrees to indemnify the indemnified party each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party Indemnifying Person shall, without the prior written consent of the indemnified partyIndemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party Indemnified Person is or could have been a party and indemnity indemnification could have been sought hereunder by such indemnified partyIndemnified Person, unless such settlement (x) includes an unconditional release of such indemnified partyIndemnified Person, in form and substance reasonably satisfactory to such indemnified partyIndemnified Person, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyIndemnified Person. Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall have requested an Indemnifying Person to reimburse the Indemnified Person for fees and expenses of counsel as contemplated by this Section 9(c), the Indemnifying Person agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such Indemnifying Person of the aforesaid request and (ii) such Indemnifying Person shall not have reimbursed the Indemnified Person in accordance with such request prior to the date of such settlement. (d) To the extent If the indemnification provided for in Section Sections 9(a) or and 9(b) above is unavailable to an indemnified party Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party Indemnifying Person under such paragraphSections, in lieu of indemnifying such indemnified party Indemnified Person thereunder, shall contribute to the amount paid or payable by such indemnified party Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany, on the one hand, and the AgentsBofA Securities, on the other handother, from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesCompany, on the one hand, and of the AgentsBofA Securities, on the other handother, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesCompany, on the one hand, and the AgentsBofA Securities, on the other handother, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company from the sale of the Shares and the total underwriting discounts and commissions received by the Agents BofA Securities in connection with the offering of the Shares, therewith bear to the aggregate Gross Sales Price of the SharesPrice. The relative fault of the Transaction EntitiesCompany, on the one hand, and the AgentsBofA Securities, on the other handother, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents BofA Securities, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents BofA Securities agree that it would not be just or and equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d)) above. The amount paid or payable by an indemnified party Indemnified Person as a result of the losses, claims, damages and liabilities referred to in Section 9(d) above shall be deemed to include, subject to the limitations set forth above, any reasonable legal or other expenses reasonably incurred by such indemnified party Indemnified Person in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, in no Agent event shall BofA Securities be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such Agent in connection BofA Securities with respect to the offering of the Shares exceeds the amount of any damages that such Agent BofA Securities has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. . (f) The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party Indemnified Person at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Equity Distribution Agreement (American Campus Communities Operating Partnership LP)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliateseach director, directorsofficer and employee of each Underwriter, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, the Time of Sale Prospectus or any preliminary prospectusamendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectusthereto, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent Company in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the following information in the Prospectus furnished on behalf of each Underwriter: the third and twelfth paragraphs under the caption “Underwriters” in the Prospectus (the “Underwriter Information”), or the Selling Shareholder Information. (b) Each Agent Selling Shareholder agrees, severally and not jointly, to indemnify and hold harmless each Transaction EntityUnderwriter, each director, officer and employee of each Underwriter, each person, if any, who controls any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act and each affiliate of any Underwriter within the meaning of Rule 405 of the Securities Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, the Prospectus or any amendment or supplement thereto, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to the Selling Shareholder Information furnished in writing by or on behalf of such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, any issuer free writing prospectus, road show or the Prospectus or any amendment or supplement thereto. The liability of each Selling Shareholder under the indemnity agreement contained in this paragraph shall be limited to an amount equal to the aggregate Purchase Price (but before payment of expenses) of the Shares sold by such Selling Shareholder under this Agreement (with respect to each Selling Shareholder, the “Selling Shareholder Proceeds”). (c) Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company’s directors, the Selling Shareholders, the directors of the Company, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or any Selling Shareholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such Agentaction or claim) that arise out of, but only with respect to or are based upon, any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show or the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, in reliance upon and in conformity or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to the Agent Underwriter Information. (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a11(a), 11(b) or 9(b11(c), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, them or (iii) the indemnifying party has failed within a reasonable time to retain timely appoint counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the reasonably incurred fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters, their respective directors, officers and employees, and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the reasonably incurred fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section and (iii) the reasonably incurred fees and expenses of more than one separate firm (in addition to any local counsel) for all Selling Shareholders and all persons, if any, who control any Selling Shareholder within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons and directors, then officers, employees or affiliates of any Underwriters, such firm shall be designated in writing by the Agents, in Representatives. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in Company. In the case of parties indemnified pursuant to Section 9(b)any such separate firm for the Selling Shareholders and such control persons of any Selling Shareholders, such firm shall be designated in writing by the persons named as attorneys-in-fact for the Selling Shareholders under the Powers of Attorney. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any a statement as to or any an admission of fault, culpability or a failure to act act, by or on behalf of any an indemnified party. (de) To the extent the indemnification provided for in Section 9(a11(a), 11(b) or 9(b11(c) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i11(e)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i11(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company and the Selling Shareholders on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities each Selling Shareholder and the total discounts and commissions amount deemed to be underwriting compensation received by the Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price of the SharesUnderwriters. The relative fault of the Transaction Entities, indemnifying party on the one hand, hand and the Agents, indemnified party on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company, the Selling Shareholders or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 11 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth liability of each Selling Shareholder under the contribution agreement contained in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice paragraph shall be required with respect limited to any action for which notice has been given under section 9(d) hereof for purposes of indemnificationan amount equal to the Selling Shareholder Proceeds. (ef) The Transaction Entities Each of the Company, the Selling Shareholders and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 11 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d11(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d11(e) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 911, (i) no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission and (ii) no Selling Shareholder shall be required to contribute an amount in excess of the amount by which the Selling Shareholder Proceeds exceed the amount of any damages that such Selling Shareholder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 11 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fg) The indemnity and contribution provisions contained in this Section 9 11 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company and the Selling Shareholders contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, its directors, officers or employees, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter, by or on behalf of any Selling Shareholder or any person controlling any Selling Shareholder, or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (CCC Intelligent Solutions Holdings Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the information described as such in paragraph (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or any amendment thereof, the Prospectus or any amendment or supplement thereto thereto. It is understood and agreed that the only information in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, furnished to the Company by any Underwriter through the Representatives expressly for use therein consists of the information relating to stabilizing transactions and passive market making contained in reliance upon and in conformity with the Agent Information11th paragraph under the caption “Underwriters”. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a‎8(a) or 9(b‎8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives, in the case of parties indemnified pursuant to Section 9(a‎8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b‎8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, which will not be unreasonably withheld but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyproceeding. (d) To the extent the indemnification provided for in Section 9(a‎8(a) or 9(b‎8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i‎8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i‎8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 ‎8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 ‎8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d‎8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d‎8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9‎8, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 ‎8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 ‎8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Bally's Corp)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent Company in writing by such Underwriter through ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ consists of the Underwriting Information. (ba) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Company, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such Agentaction or claim) that arise out of, but only with respect to or are based upon, any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show or the Prospectus or any amendment or supplement thereto thereto, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to such Underwriter furnished to the Company in writing by such Underwriter through ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or the Prospectus or any Permitted Free Writing amendment or supplement thereto, it being understood and agreed that the only such information furnished by any Underwriter through the Representatives consists of the following information in the Prospectus, in reliance upon and in conformity with : [ ] (the Agent “Underwriting Information”). (cb) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or 9(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed in writing to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party them or (iv) the indemnified one party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the other party or (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act and (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons and affiliates of any Underwriters, then such firm shall be designated in writing by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇. In the case of any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any a statement as to or any an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (dc) To the extent the indemnification provided for in Section 9(a) ), or 9(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i9(c)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i9(c)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (ed) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d9(c). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d9(c) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fe) The indemnity and contribution provisions contained in this Section 9 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter, or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Instructure Holdings, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members directors and employees officers and each person, if any, who controls any Agent such Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, legal or other expenses reasonably incurred in connection with any suit, action, investigation or proceeding, in each case whether commenced or threatened, or any claim asserted, as such fees and expenses are incurred), joint or several, that arise out of, or are based upon, (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”) or the Prospectus or any amendment or supplement thereto, or caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, not misleading, except insofar as such losses, claims, damages or liabilities are caused by any such untrue statement or omission or alleged untrue statement or omission based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed upon that the only such information furnished by the Representatives consists of the information described as such in subsection (b) below. The Company further agrees to reimburse any stamp tax payable upon presentation for enforcement of this Agreement. Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company, the directors and officers of the Company and each person, if any, who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising out of or based upon caused by any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, or the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising out of or based upon caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein therein, not misleading, except insofar as such losses, claims, damages or liabilities are arising out or based upon any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Information. (b) Each Agent agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s directors, officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such Agent, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representative expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or any amendment thereof, the Prospectus or any amendment or supplement thereto or thereto, it being understood and agreed upon that the only such information furnished by any Permitted Free Writing Underwriter consists of the following information in the Registration Statement, the Time of Sale Prospectus and the Prospectus: the names and corresponding share amounts set forth in the table of Underwriters in the first paragraph of text under the caption “Underwriters” in the Prospectus, the third paragraph of text under the caption “Underwriters” in reliance upon the Time of Sale Prospectus and the Prospectus concerning the terms of offering by the Underwriters and the tenth paragraph of text under the caption “Underwriters” in conformity with the Agent InformationTime of Sale Prospectus and the Prospectus concerning stabilization by the Underwriters. (cb) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or 9(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the writing, but failure to so notify an indemnifying party shall be entitled to participate therein and, not relieve such indemnifying party from any liability hereunder to the extent that it is not materially prejudiced as a result thereof and in any event shall electnot relieve it from any liability which it may have otherwise than on account of this Agreement. The indemnifying party, jointly with any other indemnifying party similarly notifiedupon request of the indemnified party, to assume the defense thereof, with shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonable fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party; (iii) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party; or (iv) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters, their respective officers and directors and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act and (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors and officers and each person, if any, who controls the Company within the meaning of either such indemnified parties Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such control persons and directors, then officers and affiliates of any Underwriters, such firm shall be designated in writing by the Agents, in Representatives. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in the case of parties indemnified pursuant to Section 9(b)Company. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for reasonable fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyproceeding. (dc) To the extent the indemnification provided for in Section 9(a) or 9(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i9(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i9(d)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, any indemnified party on the one hand, hand and the Agents, any indemnifying party on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities such indemnified party or by the Agents such indemnifying party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (ed) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d9(c). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d9(c) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fe) The indemnity and contribution provisions contained in this Section 9 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter, its officers or directors or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Mercadolibre Inc)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentSelling Shareholder and each Underwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing the Waters Communication, or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with, as applicable, any Underwriter Information (as defined below) or any Selling Shareholder Information furnished to the Company in writing by such Selling Shareholder expressly for use therein. All indemnity payments to be made by such Selling Shareholders hereunder in respect of this Section 11 shall be made without withholding or deduction for or on account of any present or future taxes, duties or governmental shares whatsoever of such Selling Shareholders’ jurisdictions unless such Selling Shareholders are compelled by law to deduct or withhold such taxes, duties or charges. In the event that such withholding or deduction is required, such Selling Shareholders shall pay such additional amounts as may be necessary in order to ensure that the net amounts received after such withholding or deductions shall equal the amounts that would have been received if no withholding or deduction has been made. (b) The Selling Shareholders, jointly and not severally, agree to indemnify and hold harmless the Company, its directors, its officers who sign the Registration Statement, each Underwriter, each person, if any, who controls any Underwriter or the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or any Testing the Waters Communication , or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent made in reliance upon and in conformity with any Selling Shareholder Information furnished to the Agent InformationCompany in writing by or on behalf of such Selling Shareholder expressly for use therein, except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any such untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any Underwriter Information (as defined below) and provided, further, that the liability of each Selling Shareholder pursuant to this subsection (b) shall not exceed the proceeds (net of any underwriting discounts and commissions but before deducting expenses) from the sale of the Shares sold by such Selling Shareholder hereunder (the “Selling Shareholder Proceeds”). (bc) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Company, the Selling Shareholders, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or any Selling Shareholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such Agentaction or claim) that arise out of, but only with respect to or are based upon, any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, or the Prospectus or any amendment or supplement thereto thereto, or any Permitted Free Writing Prospectusarise out of, in reliance upon and in conformity with the Agent Information. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a) or 9(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceedingare based upon, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a) or 9(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction Entities, on the one hand, and of the Agents, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and the total discounts and commissions received by the Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price of the Shares. The relative fault of the Transaction Entities, on the one hand, and the Agents, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state therein a material fact relates required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information supplied by made in the Transaction Entities or by the Agents and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities and the Agents agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.Registration

Appears in 1 contract

Sources: Underwriting Agreement (Werner Enterprises Inc)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each Agentthe Manager, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent the Manager within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of the Manager within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereofStatement, any preliminary prospectusthe Prospectus, the Prospectus Supplement (including any Interim Prospectus Supplement), the General Disclosure Package, any free writing prospectus that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or any amendment or supplement thereto or any Permitted Free Writing Prospectusthereto, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to the Agent InformationManager furnished to the Company in writing by the Manager expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ consists of the information described as such in paragraph (b) below. (b) Each Agent agrees, severally and not jointly, The Manager agrees to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such Agentthe Manager, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to the Manager furnished to the Company in writing by the Manager expressly for use in the Registration Statement or any amendment thereofStatement, the Prospectus, the Prospectus Supplement (including any Interim Prospectus Supplement), the General Disclosure Package, any free writing prospectus that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationthereto. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing writing, and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsManager, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyproceeding. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany, on the one hand, and the AgentsManager, on the other hand, from the offering of the Shares or (ii) if the allocation provided by clause (iSection 8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (iSection 8(d)(i) above but also the relative fault of the Transaction EntitiesCompany, on the one hand, and of the AgentsManager, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesCompany, on the one hand, and the AgentsManager, on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and Company bear to the total discounts and commissions received by the Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price of the SharesManager. The relative fault of the Transaction EntitiesCompany, on the one hand, and the AgentsManager, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Manager and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Manager agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent the Manager shall not be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares sold by it were offered to the public exceeds the amount of any damages that such Agent the Manager has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agentthe Manager, any person controlling any Agent the Manager or any affiliate of any Agent the Manager or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Equity Distribution Agreement (Frontline LTD /)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each Placement Agent, its affiliatesaffiliates (as such term is defined in Rule 501(b) under the Securities Act (each, directorsan "Affiliate")), officers, members and employees its selling agents and each person, if any, who controls any Placement Agent within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act as follows: (each, an “Agent Indemnified Party”i) from and against any and all lossesloss, claimsliability, damages claim, damage and liabilities (includingexpense whatsoever, without limitationas incurred, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereofthereto), including any preliminary prospectus, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectusinformation deemed to be a part thereof pursuant to Rule 430B, or arising out of or based upon any the omission or alleged omission to state therein therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages misleading or liabilities are arising out of any untrue statement or alleged untrue statement of a material fact included in any preliminary prospectus, any free writing prospectus or the Prospectus (or any amendment or supplement thereto), or the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; (ii) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, to the extent of the aggregate amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission; provided that any such settlement is effected with the written consent of the Company; (iii) against any and all expense whatsoever, as incurred (including the fees and disbursements of counsel chosen by any Placement Agent), reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission, to the extent that any such expense is not paid under (i) or (ii) above; provided, however, that this indemnity agreement shall not apply to any loss, liability, claim, damage or expense to the extent arising out of any untrue statement or omission or alleged untrue statement or omission made in the Registration Statement (or any amendment thereof, thereto) based upon information relating to any Placement Agent furnished to the Prospectus or any Permitted Free Writing Prospectus, Company in reliance upon and in conformity with the writing by such Placement Agent Informationthrough you expressly for use therein. (b) Each Placement Agent agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, each of its officers who signed the Registration Statement Statement, and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act Act, to the same extent as the foregoing indemnity from the Transaction Entities Company to such Agentthe Placements Agents contained in subsection (a) of this Section, as incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in reliance upon and in conformity with information relating to such Placement Agent furnished to the Company in writing by such Placement Agent through you expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing thereto, it being understood and agreed that such information only consists of (i) the names of the Placement Agents on the cover of the Prospectus and (ii) information set forth under the section headed "Plan of Distribution" in the Prospectus, in reliance upon and in conformity with the Agent Information. (c) In case Each indemnified party shall give notice as promptly as reasonably practicable to each indemnifying party of any proceeding (including any governmental investigation) shall be instituted involving any person action commenced against it in respect of which indemnity may be sought pursuant hereunder, but failure to so notify an indemnifying party shall not relieve such indemnifying party from any liability hereunder to the extent it is not materially prejudiced as a result thereof and in any event shall not relieve it from any liability which it may have otherwise than on account of this Section 9(a) or 9(b), 6. In case any such person (the “action shall be brought against any indemnified party”) party and it shall promptly notify the person against whom such indemnity may be sought (indemnifying party of the “indemnifying party”) in writing and commencement thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it shall electwish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party party, be counsel to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After party), and, after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party parties shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, not be liable for the fees and expenses of more than one separate firm counsel (in addition to one any local counsel) separate from their own counsel for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, connection with any one action or separate but similar or related actions in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party same jurisdiction arising out of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered intosame general allegations or circumstances. No indemnifying party shall, without the prior written consent of the indemnified partyparties, effect any settlement settle or compromise or consent to the entry of any pending judgment with respect to any litigation, or threatened any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever in respect of which any indemnification or contribution could be sought under this Section 6 (whether or not the indemnified party is parties are actual or could have been a party and indemnity could have been sought hereunder by such indemnified partypotential parties thereto), unless such settlement settlement, compromise or consent (xi) includes an unconditional release of such each indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter arising out of such litigation, investigation, proceeding or claim and (yii) does not include any a statement as to or any an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent If the indemnification provided for in this Section 9(a) or 9(b) 6 hereof is for any reason unavailable to or insufficient to hold harmless an indemnified party or insufficient in respect of any losses, liabilities, claims, damages or liabilities expenses referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the aggregate amount paid or payable by such indemnified party as a result of such losses, liabilities, claims, damages or liabilities and expenses incurred by such indemnified party, as incurred, (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction EntitiesCompany, on the one hand, and the Placement Agents, on the other hand, from the offering Direct Offering of the Shares pursuant to this Agreement or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction EntitiesCompany, on the one hand, and of the Placement Agents, on the other hand, in connection with the statements or omissions that which resulted in such losses, liabilities, claims, damages or liabilitiesexpenses, as well as any other relevant equitable considerations. The relative benefits received by the Transaction EntitiesCompany, on the one hand, and the Placement Agents, on the other hand, in connection with the offering Direct Offering of the Shares pursuant to this Agreement shall be deemed to be in the same respective proportions as the total net proceeds from the offering Direct Offering of the Shares pursuant to this Agreement (before deducting expenses) received by the Transaction Entities Company and the total discounts and commissions Placement Fee received by the Placement Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price public offering prices of the SharesShares set forth in the Prospectus. The relative fault of the Transaction EntitiesCompany, on the one hand, and the Placement Agents, on the other hand, shall be determined by reference to, among other things, whether the any such untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Placement Agents and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Placement Agents agree that it would not be just or and equitable if contribution pursuant to this Section 9 6 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that which does not take account of the equitable considerations referred to above in this Section 9(d)6. The aggregate amount paid or payable by an indemnified party as a result of the losses, liabilities, claims, damages and liabilities expenses incurred by an indemnified party and referred to above in this Section 9(d) 6 shall be deemed to include, subject to the limitations set forth above, include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such action untrue or claimalleged untrue statement or omission or alleged omission. Notwithstanding the provisions of this Section 96, no Placement Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that which such Placement Agent has otherwise been required to pay by reason of any such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to this Section 6, each person, if any, who controls any provision Placement Agent within the meaning of this Agreement, the obligations Section 15 of the Agents under this Agreement are several Securities Act or Section 20 of the Exchange Act and not jointthe affiliates of a Placement Agent and selling agents shall have the same rights to contribution as such Placement Agent, and each director of the Company, each officer of the Company who signed the Registration Statement, and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act shall have the same rights to contribution as the Company, as the case may be.

Appears in 1 contract

Sources: Placement Agency Agreement (Golden Ocean Group LTD)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each Agentthe Underwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent the Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of the Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), or the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to the Agent InformationUnderwriter furnished to the Company in writing by the Underwriter expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriter consists of the information described as such in paragraph (b) below. (b) Each Agent agrees, severally and not jointly, The Underwriter agrees to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such Agentthe Underwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to the Underwriter furnished to the Company in writing by the Underwriter expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing thereto, which information consists of the following: the name of the Underwriter on the front and back covers of the Prospectus, in reliance upon and in conformity with the Agent Information. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsUnderwriter, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyproceeding. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriter on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriter on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriter on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents in connection with the offering of the Shares, Underwriter bear to the aggregate Gross Sales Price initial public offering price of the SharesShares set forth in the Prospectus. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriter on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriter and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriter agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent the Underwriter shall not be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent the Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agentthe Underwriter, any person controlling any Agent the Underwriter or any affiliate of any Agent the Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Simply Good Foods Co)

Indemnity and Contribution. (a) Each of The Company and the Transaction EntitiesAdviser, jointly severally and severallynot jointly, agrees agree to indemnify and hold harmless each Agentof the Dealer Managers, its affiliatestheir affiliates (as such term is defined in Rule 501(b) under the Securities Act), directors, officers, members and employees and each person, if any, who controls any Agent controlling (within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act Act) any of the Dealer Managers or any such other persons (each, an each a Agent Dealer Manager Indemnified PartyPerson”) from and against any and all losses, claims, damages and liabilities (includingor actions or proceedings in respect thereof) as such expenses are incurred, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim(i) arising out of or based upon (A) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereof, any preliminary prospectus, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectusthereto), or arising out of or based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading; provided that neither the Company nor the Adviser will be liable in any such case to the extent that any such loss, except insofar as such lossesclaim, claims, damages damage or liabilities are arising out or liability is based upon any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement Dealer Manager Information, (B) any untrue statement or alleged untrue statement of a material fact contained in the Prospectus, the Internal Materials or any amendment thereofOffering Materials, or any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading; provided that neither the Company nor the Adviser will be liable in any such case to the extent that any such loss, claim, damage or liability is based upon any such untrue statement or alleged untrue statement or omission made in the Dealer Manager Information, (C) any breach by the Company or the Adviser of any representation or warranty or failure to comply with any of the agreements set forth in this Agreement, or (D) any withdrawal, termination, rescission or modification of the Rights Offering, except to the extent any such withdrawal, termination, rescission or modification has resulted from such Dealer Manager Indemnified Person’s gross negligence, bad faith, fraud or willful misconduct, or (ii) otherwise arising out of, relating to or in connection with or alleged to arise out of, relate to or be in connection with the Rights Offering, the Prospectus transactions contemplated by this Agreement or the engagement of, and services performed by, the Dealer Managers under this Agreement, or any Permitted Free Writing Prospectusclaim, litigation, investigation (including any governmental or regulatory investigation) or proceedings relating to the foregoing (“Proceedings”) regardless of whether any of such Indemnified Persons is a party thereto, and to reimburse such Indemnified Persons for any and all expenses (including, without limitation, reasonable fees and disbursements of counsel and other out-of-pocket expenses) as they are incurred in reliance upon connection with investigating, responding to or defending any of the foregoing, provided, however, the Adviser’s indemnity agreement shall only apply to statements described in (i)(A) and (i)(B) above regarding the Adviser, and provided, further that the indemnification in conformity with clause (ii) above will not, as to any Indemnified Person, apply to losses, claims, damages, liabilities or expenses to the Agent Informationextent that they are finally judicially determined to have resulted primarily from the bad faith, gross negligence or willful misconduct of such Indemnified Person. (b) Each Agent agreesThe Dealer Managers, severally and not jointly, agree to indemnify and hold harmless each Transaction Entitythe Company the Adviser, the Company’s their directors, officers who signed the Registration Statement officers, employees and each person, if any, any who controls either of the Transaction Entities Company or the Adviser within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to (an “Company Indemnified Person” and, together with the same extent Dealer Manager Indemnified Persons, each an “Indemnified Person”) from and against any and all losses, claims, damages and liabilities described in subsection (a) of this Section, as the foregoing indemnity from the Transaction Entities to such Agentincurred, but only with respect to any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement (or any amendment thereofthereto), the Prospectus or any amendment or supplement thereto Offering Materials or any Permitted Free Writing Prospectusomission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading, but only to the extent such statement is made in reliance upon and in conformity with any untrue statement or alleged untrue statement or omission made in the Agent Dealer Manager Information. (c) In case If for any proceeding reason the foregoing indemnification is unavailable to any Indemnified Person or insufficient to hold it harmless, then the Company and the Adviser on one hand, and the Dealer Managers on the other shall contribute to the amount paid or payable by such Indemnified Person as a result of such loss, claim, damage, liability or expense (including i) in such proportion as is appropriate to reflect the relative benefits received by the Company and the Adviser, on the one hand, and by the Dealer Managers, on the other hand, from the Rights Offering and the transactions contemplated thereby, or (ii) if the allocation provided by the foregoing clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in the foregoing clause (i), but also the relative fault of the Company and the Adviser, on the one hand, and of the Dealer Managers, on the other hand, in connection with the statements, actions, or omissions which resulted in such loss, claim, damage, liability or expense, as well as any governmental investigation) other relevant equitable considerations. For the avoidance of doubt, the Adviser’s contribution shall be instituted involving any person only apply to instances in respect of which indemnity may be sought the Adviser has an obligation to indemnify pursuant to Section 9(a6(a). The relative benefits received by the Company and the Adviser, on the one hand, and by the Dealer Managers, on the other hand, shall be deemed to be in the same proportion as (i) the aggregate amount of gross proceeds received upon exercise of the Rights bears to (ii) the aggregate fee paid to the Dealer Managers pursuant to Section 3 of this Agreement. The relative fault of the Company and the Adviser, on the one hand, and of the Dealer Managers, on the other hand, (i) in the case of an untrue or alleged untrue statement of a material fact or an omission or alleged omission to state a material fact, shall be determined by reference to, among other things, whether such statement or omission relates to information supplied by the Company and the Adviser or by the Dealer Managers and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission, and (ii) in the case of any other action or omission, shall be determined by reference to, among other things, whether such action or omission was taken or omitted to be taken by the Company and the Adviser or by the Dealer Manager and the parties’ relative intent, knowledge, access to information, and opportunity to prevent such action or omission. The Company, the Adviser and the Dealer Managers agree that it would not be just and equitable if contribution pursuant to this Section 6(c) were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in this Section 6(c). The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages, liabilities or expenses referred to in this Agreement shall be deemed to include, subject to the limitations set forth above, any legal or other expenses incurred by such Indemnified Person in connection with investigating or defending any such action or claim. (d) Promptly after the receipt by an Indemnified Person of notice of the commencement of any Proceedings, such Indemnified Person will, if a claim is to be made under the indemnification provisions of this Agreement, notify the Company and the Adviser (if the claim is made under 6(a)) or 9(b), such person the Dealer Managers (if the claim is made under 6(b) (each being referred to herein as an indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying partyIndemnifying Party”) in writing of the commencement thereof; provided that (i) the failure to so notify will not relieve the Indemnifying Party from any liability which it may have hereunder except to the extent it has been materially prejudiced (through forfeiture of substantive rights or defenses) by such failure and (ii) the indemnifying party shall failure to so notify will not relieve the Indemnifying Party from any liability which it may have to an Indemnified Person otherwise than on account of this indemnity agreement. In case any such Proceedings are brought against any Indemnified Person and it notifies the Indemnifying Party of the commencement thereof, the Indemnifying Party will be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notifiedthe Indemnifying Party may elect by written notice delivered to such Indemnified Person, to assume the defense thereof, with counsel reasonably satisfactory to such Indemnified Person, provided that if the indemnified party to represent the indemnified party and any others the indemnifying party may designate defendants in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party Proceedings include both such Indemnified Person and the Indemnifying Party and such Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that which are different from or in addition additional to those available to the indemnifying partyIndemnifying Party, such Indemnified Person shall have the right to select separate counsel to assert such legal defenses and to otherwise participate in the defense of such Proceedings on behalf of such Indemnified Person. It is understood that Upon receipt of notice from the indemnifying party Indemnifying Party to such Indemnified Person of its election so to assume the defense of such Proceedings and approval by such Indemnified Person of counsel, the Indemnifying Party shall not, in respect of the legal not be liable to such Indemnified Person for expenses of any indemnified party incurred by such Indemnified Person in connection with any proceeding or the defense thereof (other than reasonable costs of investigation) unless (i) such Indemnified Person shall have employed separate but substantially similar or related proceedings counsel in connection with the same jurisdictionassertion of legal defenses in accordance with the proviso to the immediately preceding sentence (it being understood, however, that the Indemnifying Party shall not be liable for the fees and expenses of more than one separate firm counsel (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense), then such firm shall be designated in writing approved by the AgentsDealer Managers, in the case of parties indemnified pursuant to Section 9(a)a Dealer Manager Indemnified Person, and or by the Company Company, in the case of a Company Indemnified Person, representing the Indemnified Persons who are parties indemnified pursuant to Section 9(bsuch Proceedings). The indemnifying party , (ii) the Indemnifying Party shall not have employed counsel reasonably satisfactory to such Indemnified Person to represent such Indemnified Person within a reasonable time after notice to the Indemnifying Party of commencement of the Proceedings or (iii) the Indemnifying Party has authorized in writing the employment of counsel for such Indemnified Person. (e) An Indemnified Party shall be liable for any settlement of any proceeding Proceedings effected without its the Indemnifying Party written consentconsent (which consent shall not be unreasonably withheld or delayed), but if settled with such consent or if there be a final judgment for the plaintiffIndemnifying Party’s written consent, the indemnifying party Indemnifying Party agrees to indemnify the indemnified party and hold harmless each Indemnified Person from and against any loss or liability and all losses, claims, damages, liabilities and expenses by reason of such settlement or judgmentsettlement. Notwithstanding the foregoing sentence, if at any time an indemnified party Indemnified Person shall have requested that an indemnifying party Indemnifying Party reimburse such Indemnified Person for legal or other expenses in connection with investigating, responding to reimburse the indemnified party for fees and expenses of counsel or defending any Proceedings as contemplated by the second and third sentences of this paragraphSection 6, the indemnifying party agrees that it Indemnifying Party shall be liable for any settlement of any proceeding Proceedings effected without its the Indemnifying Party written consent if (i) such settlement is entered into more than 30 45 days after receipt by the Indemnifying Party of such indemnifying party of the aforesaid request; request for reimbursement (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying Indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered intointo and (iii) the Indemnifying Party shall not have reimbursed such Indemnified Person in accordance with such request prior to the date of such settlement. No indemnifying party shallThe Indemnifying Party shall not, without the prior written consent of the indemnified partyan Indemnified Person, effect any settlement of any pending or threatened proceeding Proceedings in respect of which any indemnified party is or could have been a party and indemnity indemnification could have been sought hereunder by such indemnified partyIndemnified Person, unless such settlement (xi) includes an unconditional release of such indemnified partyIndemnified Person, in form and substance reasonably satisfactory to such indemnified partyIndemnified Person, from all liability on claims that are the subject matter of such proceeding Proceedings and (yii) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a) or 9(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction Entities, on the one hand, and of the Agents, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, on the one hand, and the Agents, on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and the total discounts and commissions received by the Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price of the Shares. The relative fault of the Transaction Entities, on the one hand, and the Agents, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities or by the Agents and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities and the Agents agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equityIndemnified Person. (f) The indemnity indemnity, reimbursement and contribution provisions contained in obligations under this Section 9 6 shall be in addition to any liability which the applicable Indemnifying Party may otherwise have to an Indemnified Person and shall be binding upon and inure to the representations andbenefit of any successors, warranties assigns, heirs and personal representatives of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the SharesIndemnified Person. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Dealer Manager Agreement (Bain Capital Specialty Finance, Inc.)

Indemnity and Contribution. (a) Each of the The Transaction Entities, jointly and severally, agrees agree to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act (each, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any information relating to the Transaction Entities that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication, or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the information described as such in paragraph (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each the Transaction EntityEntities, the Company’s their directors, officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Transaction Entities in writing by such Underwriter through the Representatives expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or any amendment thereof, the Prospectus or any amendment or supplement thereto or thereto, it being understood and agreed upon that the only such information furnished by any Permitted Free Writing ProspectusUnderwriter consists of the following information in the Prospectus furnished on behalf of each Underwriter under the caption “Underwriting”: (i) the names of the Underwriters and their respective participation in the sale of the Shares, (ii) the concession figure appearing in reliance upon the [=] paragraph thereunder and (iii) the information regarding stabilization, syndicate covering transactions and penalty bids appearing in conformity with the Agent Information[=] and [=] paragraphs thereunder. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between themthem and/or the indemnifying party and the indemnified party have different available defenses, and (iii) the indemnifying party has failed within not retained counsel on a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying partytimely basis. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Transaction Entities, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 45 days after receipt by such indemnifying party of the aforesaid request; , and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (xi) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding proceeding, and (yii) does not include any statement as to or any an admission of fault, culpability or a failure to act wrongdoing by or on behalf of any the indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Entities on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Entities on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Entities on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Entities on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any the Transaction Entity or any of Entities, their respective officers or directors or any person controlling any the Transaction Entity Entities and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Phillips Edison & Company, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachand each director, an “Agent Indemnified Party”) officer or affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication, or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the information described as such in paragraph (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but it being understood and agreed upon that the only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made such information furnished by any Underwriter consists of the following information in the Registration Statement or any amendment thereof, Prospectus furnished on behalf of each Underwriter: the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, concession and reallowance figures appearing in reliance upon the third paragraph under the caption “Underwriting” and the information contained in conformity with the Agent Informationfourteenth paragraph under the caption “Underwriting. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred, documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed in writing to the retention of such counsel, ; (ii) the Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the Indemnifying Person; or (iv) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (after deducting underwriting discounts and commissions but before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any director, officer, or affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (C3.ai, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectusprospectus (including the Canadian Preliminary Prospectus), the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Marketing Materials, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any amendment or supplement thereto thereto, or any Permitted Free Writing ProspectusWritten Testing-the-Waters Communication, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the information described as such in paragraph (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement Statement, any preliminary prospectus (including the Canadian Preliminary Prospectus), the Time of Sale Prospectus, any issuer free writing prospectus, Marketing Materials, road show or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Informationthereto. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any a statement as to or any an admission of fault, culpability or a failure to act act, by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity ▇▇▇▇▇ and contribution provisions contained Company, LLC and Wedbush Securities Inc. are referred to in this Section 9 8(f) as the “Non-Canadian Underwriters”. Provided that it has not terminated and cancelled its obligations to the representations andCompany in accordance with this Agreement, warranties each Non-Canadian Underwriter agrees that if any losses, claims, damages or liabilities, joint or several (collectively, the “Claims”) are suffered by an Indemnified Party as contemplated by Section 8(a) (and such Claims did not include such Non-Canadian Underwriter on the basis that it did not sign the underwriters’ certificate to the Canadian Final Prospectus or the Canadian Supplemented Prospectus and such Claims would have included such Non-Canadian Underwriter if it had signed such certificate) under Section 130 of the Transaction Entities contained inSecurities Act (Ontario) or the equivalent provisions of the Canadian Securities Laws in the other Canadian Qualifying Jurisdictions based upon a misrepresentation or alleged misrepresentation (as defined under applicable Canadian Securities Laws) in the Canadian Final Prospectus or Canadian Supplemented Prospectus, and such Indemnified Party is determined by a court of competent jurisdiction or other governmental authority in a final judgment or decision from which no appeal can be made to be liable pursuant toto such laws in respect of such Claims and such Indemnified Party does pay such Claims (the “Liability Amount”), then such Non-Canadian Underwriter shall indemnify on a several basis, and not a joint or joint and several basis, such Indemnified Party from and against the Liability Amount for such Non-Canadian Underwriter’s pro rata share of such Liability Amount, on the basis of and assuming that such Non-Canadian Underwriters had signed the underwriters’ certificate to the Canadian Final Prospectus or the Canadian Supplemented Prospectus, but only to the extent of its underwriting obligation under Schedule I hereto. Each Non-Canadian Underwriter shall further indemnify such Indemnified Party, without regard to the final outcome of any such Claims, for such Non-Canadian Underwriter’s pro rata share of any legal and other expenses reasonably incurred and paid by such Indemnified Party in connection with the investigation or defense of any such Claims (the “Indemnified Expenses”). For the purposes of determining the aggregate amount that the applicable Non-Canadian Underwriter is obligated to indemnify all other Indemnified Parties, “pro rata” will be based on the percentage determined by dividing the number of Firm Shares set forth opposite its name in Schedule I hereto by the total number of Firm Shares. For the avoidance of doubt, the maximum aggregate amount which a Non-Canadian Underwriter is required to indemnify the other Indemnified Parties under this Agreement Section 8(f) shall remain operative and in full force and effect regardless be the lesser of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any the percentage of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations total of the Agents under this Agreement are several Liability Amount and not joint.Indemnified Expenses equal to the percentage determined by dividing the number of Firm Shares set forth opposite such Non-Canadian Underwriter’s name in Schedule I hereto by the total number of Firm Shares and

Appears in 1 contract

Sources: Underwriting Agreement (Fusion Pharmaceuticals Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, directors and officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachand each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act, an “Agent Indemnified Party”) from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the information described as such in paragraph (c) below. (b) Each Agent Selling Shareholder agrees, severally and not jointly, to indemnify and hold harmless each Transaction EntityUnderwriter, its directors and officers, each person, if any, who controls any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, the Prospectus or any amendment or supplement thereto, or any Testing-the-Waters Communication or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, only to the extent such losses, claims, damages or liabilities are caused by any untrue statement or omission or alleged untrue statement or omission made in reliance on and in conformity with the Selling Shareholder Information provided by such Selling Shareholder furnished in writing by or on behalf of such Selling Shareholder expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or the Prospectus or any amendment or supplement thereto. The liability of each Selling Shareholder under the indemnity agreement contained in this paragraph shall be limited to an amount equal to the aggregate net proceeds (after deducting underwriter discounts and commissions but before deducting offering expenses) received by such Selling Shareholder for the Shares sold by such Selling Shareholder under this Agreement (with respect to each Selling Shareholder, the “Selling Shareholder Proceeds”). (c) Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company’s directors, the Selling Shareholders, the directors of the Company, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or any Selling Shareholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Sellers to such Agent, Underwriter but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or any amendment thereof, the Prospectus or any amendment or supplement thereto or thereto, it being understood and agreed upon that the only such information furnished by any Permitted Free Writing ProspectusUnderwriter consists of the following information in the Prospectus furnished on behalf of each Underwriter: the information in the third paragraph regarding the Underwriters’ offering of the Shares and the twelfth paragraph concerning the Underwriters’ stabilization activities under “Underwriting” (such information, in reliance upon and in conformity with the Agent “Underwriter Information”). (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a10(a), 10(b) or 9(b), 10(c) such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall retain counsel (who shall not, without the consent of the indemnified party, be entitled to participate therein and, counsel to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel party) reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel and to the indemnifying party paying for such counsel, ’s reasonably incurred fees and disbursements or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing conflict of interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood and agreed that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for all Underwriters and all persons, if any, who control any Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of any Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, the directors of the Company, the officers of the Company who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section and (iii) the fees and expenses of more than one separate firm (in addition to any local counsel) for all Selling Shareholders and all persons, if any, who control any Selling Shareholders within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriters and such directors, then officers and control persons and affiliates of any Underwriter, such firm shall be designated in writing by the Agents, in Representatives. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in Company. In the case of parties indemnified pursuant to Section 9(b)any such separate firm for the Selling Shareholders and such control persons of any Selling Shareholders, such firm shall be designated in writing by the Selling Shareholders. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any a statement as to or any an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (de) To the extent the indemnification provided for in Section 9(a10(a), 10(b) or 9(b10(c) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i10(e)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i10(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Sellers on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities each Seller and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Sellers on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Sellers or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 10 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth Company and the Selling Shareholder’s respective obligations to contribute pursuant to this Section 10 are several in proportion to the respective number of Shares they have sold hereunder, and not joint. Notwithstanding the foregoing provisions, the liability of each Selling Shareholder under the contribution agreement contained in this paragraph and the indemnity agreement contained in Section 9(c10(b) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect limited in the aggregate to any action for which notice has been given under section 9(d) hereof for purposes an amount equal to the Selling Shareholder Proceeds of indemnificationsuch Selling Shareholder. (ef) The Transaction Entities Sellers and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 10 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d10(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d10(e) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 910, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 10 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fg) The indemnity and contribution provisions contained in this Section 9 10 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company and the Selling Shareholders contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, its officers or directors, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter, or by or on behalf of any Transaction Entity Selling Shareholder or any person controlling any Selling Shareholder, or by or on behalf of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Life Time Group Holdings, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify indemnify, defend and hold harmless each AgentUnderwriter, its affiliatesand each of their respective partners, directors, officers, members employees, advisors and employees affiliates and each person, if any, any person who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) and the successors and assigns of all of the foregoing persons, from and against any and all lossesloss, claimsdamage, damages and liabilities expense, liability or claim (includingincluding the reasonable cost of investigation) which, without limitationjointly or severally, any legal such Underwriter or other expenses reasonably incurred in connection with defending or investigating any such action person may incur under the Securities Act, the Exchange Act, Canadian Securities Laws, the common law or claim) arising otherwise, insofar as such loss, damage, expense, liability or claim arises out of or is based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or in the Registration Statement as amended by any post-effective amendment thereof, any preliminary prospectusthereof by the Company), the Prospectus Preliminary Prospectuses, the Preliminary Final Prospectuses and the Prospectuses (including and amendments or any amendment or supplement thereto or supplements to the foregoing), in any Permitted Free Writing Prospectus, in any “issuer information” (as defined in Rule 433 under the Securities Act) of the Company, which “issuer information” is required to be, or arising is, filed with the Commission, or arises out of or is based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein therein, in light of the circumstances under which they are made, not misleading, except insofar as any such lossesloss, claimsdamage, damages expense, liability or liabilities are arising claim arises out of or is based upon any such untrue statement or omission or alleged untrue statement of a material fact contained in, and in conformity with the information furnished in writing by or omission made in on behalf of such Underwriter through the Managing Underwriter or its counsel to the Company expressly for use in, the Registration Statement or any amendment thereofStatement, the Prospectus Preliminary Prospectuses, the Preliminary Final Prospectuses, the Prospectuses or any Permitted Free Writing ProspectusProspectus (it being understood and agreed that the only such information furnished by or on behalf of the Underwriters consists of the information described as such in Section 10 hereof) or arises out of or is based upon any omission or alleged omission to state a material fact in the Registration Statement, the Preliminary Prospectuses, the Preliminary Final Prospectuses, the Prospectuses or any Permitted Free Writing Prospectus in connection with such information, which material fact was not contained in such information and which material fact was required to be stated in such Registration Statement, Preliminary Prospectuses, Preliminary Final Prospectuses, Prospectuses or any Permitted Free Writing Prospectus or was necessary to make such information, in reliance upon and in conformity with light of the Agent Informationcircumstances under which they are made, not misleading. (b) Each Agent agreesUnderwriter severally agrees to indemnify, severally and not jointly, to indemnify defend and hold harmless each Transaction Entity, the Company’s directors, officers who signed the Registration Statement its directors and each personofficers, if any, and any person who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to Act, and the same extent as successors and assigns of all of the foregoing indemnity persons, from and against any loss, damage, expense, liability or claim (including the Transaction Entities to reasonable cost of investigation) which, jointly or severally, the Company or any such Agentperson may incur under the Securities Act, but only with respect to the Exchange Act, Canadian Securities Laws, the common law or otherwise, insofar as such loss, damage, expense, liability or claim arises out of or is based upon any untrue statements or omissions, statement or alleged untrue statements statement of a material fact contained in, and in conformity with the information furnished in writing by or omissionson behalf of such Underwriter through the Managing Underwriter or its counsel to the Company expressly for use in, made the Registration Statement (or in the Registration Statement or as amended by any post-effective amendment thereofthereof by the Company), the Prospectus or any amendment or supplement thereto Preliminary Prospectuses, the Preliminary Final Prospectuses, the Prospectuses or any Permitted Free Writing ProspectusProspectus (it being understood and agreed that the only such information furnished by or on behalf of the Underwriters consists of the information described as such in Section 10 hereof), or arises out of or is based upon any omission or alleged omission to state a material fact in such Registration Statement, Preliminary Prospectuses, Preliminary Final Prospectuses, Prospectuses or Permitted Free Writing Prospectus in connection with such information, which material fact was not contained in such information and which material fact was required to be stated in such Registration Statement, Preliminary Prospectuses, Preliminary Final Prospectuses, Prospectuses or any Permitted Free Writing Prospectus or was necessary to make such information, in reliance upon and in conformity with light of the Agent Informationcircumstances under which they are made, not misleading. (c) In case If any action, suit or proceeding (including any governmental investigationeach, a “Proceeding”) shall be instituted involving any is brought against a person (an “indemnified party”) in respect of which indemnity may be sought pursuant to Section 9(a) against the Company or 9(b)an Underwriter (as applicable, such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) pursuant to subsection (a) or (b), respectively, of this Section 9, such indemnified party shall promptly notify such indemnifying party in writing of the institution of such Proceeding and the such indemnifying party shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereofof such Proceeding, with including the employment of counsel reasonably satisfactory to the indemnified party to represent the such indemnified party and payment of all fees and expenses; provided, however, that the omission to so notify such indemnifying party shall not relieve such indemnifying party from any others the liability which such indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related have to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party or otherwise. The indemnified party or parties shall have the right to retain employ its or their own counselcounsel in any such case, but the fees and expenses of such counsel shall be at the expense of such indemnified party or parties unless (i) the employment of such counsel shall have been authorized in writing by the indemnifying party and in connection with the indemnified party shall have mutually agreed to the retention defense of such counsel, (ii) the named parties to any such proceeding (including any impleaded parties) include both Proceeding or the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between themshall not have, (iii) the indemnifying party has failed within a reasonable period of time in light of the circumstances, employed counsel to retain counsel reasonably satisfactory to the defend such Proceeding or such indemnified party or (iv) the indemnified party parties shall have reasonably concluded that there may be legal defenses available to it that or them which are different from or additional to (and with respect to which counsel employed by the indemnifying party cannot or refuses to effectively pursue due to such counsel’s defense of the indemnifying party), or in addition to conflict with, those available to the such indemnifying party. It is understood that the party (in which case such indemnifying party shall notnot have the right to direct the defense of such Proceeding on behalf of the indemnified party or parties), in respect any of the legal which events such fees and expenses of any indemnified shall be borne by such indemnifying party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdictionand paid as incurred (it being understood, however, that such indemnifying party shall not be liable for the fees and expenses of more than one separate firm counsel (in addition to one any local counsel) for all such in any one Proceeding or series of related Proceedings in the same jurisdiction representing the indemnified parties and that all who are parties to such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(bProceeding). The indemnifying party shall not be liable for any settlement of any proceeding Proceeding effected without its written consentconsent but, but if settled with its written consent, such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify and hold harmless (to the extent that the indemnified party is entitled to indemnification pursuant to sections 9(a) or 9(b) above) the indemnified party or parties from and against any loss or liability by reason of such settlement or judgmentsettlement. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences sentence of this paragraphSection 9(c), then the indemnifying party agrees that it shall be liable (to the extent that the indemnified party is entitled to indemnification pursuant to sections 9(a) or 9(b) above) for any settlement of any proceeding Proceeding effected without its written consent if (i) such settlement is entered into more than 30 60 business days after receipt by such indemnifying party of the aforesaid request; , (ii) such indemnifying party shall not have fully reimbursed the indemnified party in accordance with such request prior to the date of such settlement; , and (iii) such indemnifying indemnified party shall have received notice of given the terms of such settlement indemnifying party at least 30 days days’ prior notice of its intention to such settlement being entered intosettle. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding Proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding Proceeding and (y) does not include any statement as to or any an admission of fault, fault or culpability or a failure to act by or on behalf of any such indemnified party. (d) To the extent If the indemnification provided for in this Section 9(a) or 9(b) 9 is unavailable to an indemnified party under subsections (a) and (b) of this Section 9 or insufficient to hold an indemnified party harmless in respect of any losses, claimsdamages, damages expenses, liabilities or liabilities claims referred to therein, then each applicable indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claimsdamages, damages expenses, liabilities or liabilities claims (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, in connection with the statements or omissions that which resulted in such losses, damages, expenses, liabilities or claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering (net of the Shares (underwriting discounts and commissions but before deducting expenses) received by the Transaction Entities Company, and the total underwriting discounts and commissions (including the legal fees reimbursed pursuant to Section 4(m)(xii) of this Agreement) received by the Agents in connection with the offering of the SharesUnderwriters, bear to the aggregate Gross Sales Price public offering price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, shall be determined by reference to, among other things, whether the untrue statement or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering amount paid or payable by a party as a result of the Shareslosses, damages, expenses, liabilities and not joint. The provisions set forth claims referred to in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice subsection shall be required deemed to include any legal or other fees or expenses reasonably incurred by such party in connection with respect investigating, preparing to defend or defending any action for which notice has been given under section 9(d) hereof for purposes of indemnificationProceeding. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or and equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(dsubsection (d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received price at which the Shares underwritten by such Agent in connection with Underwriter and distributed to the offering of public were offered to the Shares public exceeds the amount of any damages that damage which such Agent Underwriter has otherwise been required to pay by reason of such untrue statement or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f11(e) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in Underwriters’ obligations to contribute pursuant to this Section 9 are several in proportion to their respective underwriting commitments and not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equityjoint. (f) The indemnity and contribution provisions agreements contained in this Section 9 and the representations andcovenants, warranties and representations of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, its partners, directors or officers or any person controlling (including each partner, officer or director of such person) who controls any Agent Underwriter within the meaning of Section 15 of the Securities Act or any affiliate Section 20 of any Agent the Exchange Act, or by or on behalf of the Company, its directors or officers or any Transaction Entity person who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, and shall survive any termination of this Agreement or the issuance and delivery of the Shares to be sold by the Company pursuant hereto. The Company and each Underwriter agree promptly to notify each other of the commencement of any Proceeding against it and, in the case of the Company, against any of their respective officers or directors or any person controlling any Transaction Entity in connection with the issuance and (iii) any acceptance of and payment for any sale of the Shares. (g) For purposes of clarity and without limitation to , or in connection with the Registration Statement, any provision of this AgreementPreliminary Prospectus, the obligations of the Agents under this Agreement are several and not jointProspectuses or any Permitted Free Writing ▇▇▇▇▇▇▇▇▇▇.

Appears in 1 contract

Sources: Underwriting Agreement (NovaBay Pharmaceuticals, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, the Basic Prospectus, any preliminary prospectusPreliminary Prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show as defined in Rule 433(h) under the Securities Act (a “road show”), or the Prospectus or any amendment or supplement thereto thereto, or any Permitted Free Writing ProspectusWritten Testing-the-Waters Communication, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the information described as such in paragraph (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement Statement, any Preliminary Prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or any amendment thereof, the Prospectus or any amendment or supplement thereto or thereto, it being understood and agreed that the only such information furnished by any Permitted Free Writing Prospectus, Underwriter consists of the following: the information relating to market making in reliance upon the third paragraph under the caption “Underwriting,” the concession figure appearing in the fifth paragraph under the caption “Underwriting,” the information relating to stabilizing transactions contained in the thirteenth paragraph under the caption “Underwriting” and the information regarding internet distribution appearing in conformity with the Agent Informationnineteenth paragraph under the caption “Underwriting. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (xi) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (yii) does not include any a statement as to or any an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Immuneering Corp)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each Agentthe Underwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent the Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, and each affiliate of the Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any reasonably incurred and documented legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (eacha “road show”), an “Agent Indemnified Party”the Prospectus or any amendment or supplement thereto, or any Testing-the-Waters Communication, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any such untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to the Underwriter furnished to the Company in writing by the Underwriter expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriter consists of the information described as such in paragraph (c) below. (b) The Selling Shareholder agrees to indemnify and hold harmless the Underwriter, each person, if any, who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such lossesbut only with reference to the Selling Shareholder Information relating to the Selling Shareholder. The liability of the Selling Shareholder under the representations and warranties contained in this Agreement and under the indemnity and contribution agreements contained in this Section 11 shall be limited to an amount equal to the aggregate net proceeds after underwriting commissions and discounts, claimsbut before expenses, damages or liabilities are arising out or based upon any such untrue statement or omission or alleged untrue statement or omission made in received by the Registration Statement or any amendment thereof, Selling Shareholder from the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with sale of Shares sold by the Agent InformationSelling Shareholder under this Agreement. (bc) Each Agent The Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entitythe Company, the Selling Shareholder, the directors of the Company’s directors, the officers of the Company who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company or the Selling Shareholder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities to and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such Agentaction or claim) that arise out of, but only with respect to or are based upon, any untrue statements or omissions, statement or alleged untrue statements or omissions, made statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show, or the Prospectus or any amendment or supplement thereto thereto, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to the Underwriter furnished to the Company in writing by the Underwriter expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show or the Prospectus or any Permitted Free Writing amendment or supplement thereto, it being understood and agreed upon that the only such information furnished by the Underwriter consists of the following information in the Prospectus: the information concerning stabilizing transactions, short sales and other information appearing in reliance upon and in conformity with the Agent Informationtwelfth paragraph under the caption “Underwriting. (cd) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a11(a), 11(b) or 9(b11(c), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the reasonably incurred and documented fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the reasonably incurred and documented fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, ; (ii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party; (iii) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party; and (iv) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for (i) the fees and expenses of more than one separate firm (in addition to one any local counsel) for the Underwriter and all persons, if any, who control the Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act or who are affiliates of the Underwriter within the meaning of Rule 405 under the Securities Act, (ii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such indemnified parties Section and (iii) the fees and expenses of more than one separate firm (in addition to any local counsel) for the Selling Shareholder and all persons, if any, who control the Selling Shareholder within the meaning of either such Section, and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If In the indemnifying party does not elect to assume case of any such separate firm for the defenseUnderwriter and such control persons and affiliates of the Underwriter, then such firm shall be designated in writing by the Agents, in Underwriter. In the case of parties indemnified pursuant to Section 9(a)any such separate firm for the Company, and such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company in Company. In the case of parties indemnified pursuant to Section 9(b)any such separate firm for the Selling Shareholder and such control persons of the Selling Shareholder, such firm shall be designated in writing by the Selling Shareholder. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such the indemnified party, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (de) To the extent the indemnification provided for in Section 9(a11(a), 11(b) or 9(b11(c) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, indemnifying party or parties on the one hand, hand and the Agents, indemnified party or parties on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i11(e)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i11(e)(i) above but also the relative fault of the Transaction Entities, indemnifying party or parties on the one hand, hand and of the Agents, indemnified party or parties on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company and the Selling Shareholder on the one hand, hand and the Agents, Underwriter on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities and the total discounts and commissions received by the Agents in connection with the offering of the Shares, Selling Shareholder bear to the aggregate Gross Sales Price result of the Sharesprice at which the Underwriter sells the Shares less the price at which the Underwriter purchases the Shares from the Selling Shareholder. The relative fault of the Transaction Entities, Company and the Selling Shareholder together on the one hand, and the Agents, Underwriter on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by either the Transaction Entities Company or the Selling Shareholder or by the Agents Underwriter, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (ef) The Transaction Entities Company, the Selling Shareholder and the Agents Underwriter agree that it would not be just or equitable if contribution pursuant to this Section 9 11 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d11(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d11(e) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 911, no Agent the Underwriter shall not be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent the Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 11 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (fg) The indemnity and contribution provisions contained in this Section 9 11 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company and the Selling Shareholder contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agentthe Underwriter, any person controlling any Agent the Underwriter or any affiliate of any Agent the Underwriter, or by or on behalf of any Transaction Entity the Selling Shareholder or any person controlling the Selling Shareholder, or by or on behalf of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Keurig Dr Pepper Inc.)

Indemnity and Contribution. (a) Each of the Transaction EntitiesFund and the Investment Adviser, jointly and severally, agrees to indemnify indemnify, defend and hold harmless each Agentthe Sales Manager, its affiliatespartners, directors, directors and officers, members and employees and each person, if any, any person who controls any Agent the Sales Manager within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (eachAct, an “Agent Indemnified Party”) and their successors and assigns of all of the foregoing persons from and against any and all lossesloss, claimsdamage, damages and liabilities expense, liability or claim (includingincluding the reasonable cost of investigation) which, without limitationjointly or severally, any legal the Sales Manager or other expenses reasonably incurred in connection with defending or investigating any such action person may incur under the Securities Act, the Exchange Act, the Investment Company Act, the Advisers Act, the common law or claimotherwise, insofar as such loss, damage, expense, liability or claim (i) arising arises out of or is based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or in the Registration Statement as amended by any post-effective amendment thereof, any preliminary prospectus, thereof by the Prospectus Fund) or any amendment or supplement thereto or any Permitted Free Writing Prospectus, or arising arises out of or is based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages misleading or liabilities are arising (ii) arises out of or is based upon any such untrue statement or omission or alleged untrue statement of a material fact included in any Road Show Material, the Disclosure Package or omission made in the Registration Statement or any amendment thereof, the Prospectus or arises out of or is based upon any Permitted Free Writing Prospectusomission or alleged omission to state a material fact necessary in order to make the statements therein, in reliance the light of the circumstances under which they were made, not misleading; except with respect to either of the foregoing clause (i) and (ii) insofar as any such loss, damage, expense, liability or claim arises out of or is based upon any untrue statement or alleged untrue statement of a material fact contained in and in conformity with information concerning the Agent Information. (b) Each Agent agrees, severally and not jointly, Sales Manager furnished in writing by or on behalf of the Sales Manager to indemnify and hold harmless each Transaction Entity, the Company’s directors, officers who signed Fund expressly for use with reference to the Sales Manager in such Registration Statement and each person, if any, who controls either or in such Disclosure Package as set forth in Section 7(f) hereof or arises out of the Transaction Entities within the meaning of either Section 15 of the Act or Section 20 of the Exchange Act is based upon any omission or alleged omission to the same extent as the foregoing indemnity from the Transaction Entities state a material fact in connection with such information required to be stated in such Agent, but only Registration Statement or such Disclosure Package or necessary to make such information (with respect to untrue statements such Disclosure Package, in light of the circumstances under which they were made) not misleading. If any action, suit or omissionsproceeding (together, or alleged untrue statements or omissions, made in a “Proceeding”) is brought against the Registration Statement Sales Manager or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing Prospectus, in reliance upon and in conformity with the Agent Information. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any such person in respect of which indemnity may be sought against the Fund or the Investment Adviser pursuant to Section 9(a) the foregoing paragraph, the Sales Manager or 9(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity Fund or the Investment Adviser, as the case may be sought (the “indemnifying party”) be, in writing of the institution of such Proceeding and the indemnifying party Fund or the Investment Adviser shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereofof such Proceeding, with including the employment of counsel reasonably satisfactory to the indemnified party to represent the such indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the payment of all fees and disbursements expenses; provided, however, that the omission to so notify the Fund or the Investment Adviser shall not relieve the Fund or the Investment Adviser from any liability which the Fund or the Investment Adviser may have to the Sales Manager or any such person to the extent Fund or the Investment Adviser are not materially prejudiced as a result thereof and in any event shall not relieve the Fund or the Investment Adviser from any liability which it may have otherwise than on account of this indemnity agreement. The Sales Manager or such person shall have the right to employ its or their own counsel in any such case, but the reasonable fees and expenses of such counsel related to shall be at the expense of the Sales Manager or of such proceeding. After notice from person unless the indemnifying party to employment of such indemnified party of its election so to assume counsel shall have been authorized in writing by the defense thereof under such subsection for any legal expenses of other counsel Fund or any other expenses subsequently incurred by such indemnified party the Investment Adviser, as the case may be, in connection with the defense thereofof such Proceeding or the Fund or the Investment Adviser shall not have, within a reasonable period of time in light of the circumstances, employed counsel to have charge of the defense of such Proceeding or such indemnified party or parties shall have reasonably concluded that there may be defenses available to it or them, which are different from, additional to or in conflict with those available, to the Fund or the Investment Adviser (in which case the Fund, the Investment Adviser shall not have the right to direct the defense of such Proceeding on behalf of the indemnified party or parties), in any of which events such reasonable fees and expenses shall be borne by the Fund or the Investment Adviser and paid as incurred (it being understood, however, that the Fund or the Investment Adviser shall not be liable for the expenses of more than one separate counsel (in addition to any local counsel) in any one Proceeding or series of related Proceedings in the same jurisdiction representing the indemnified parties who are parties to such Proceeding). In Neither the Fund nor the Investment Adviser shall be liable for any settlement of any Proceeding effected without its written consent but if settled with the written consent of the Fund or the Investment Adviser, the Fund or the Investment Adviser, as the case may be, agrees to indemnify and hold harmless the Sales Manager and any such proceedingperson from and against any loss or liability by reason of such settlement. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for reasonable fees and expenses of counsel as contemplated by the second sentence of this paragraph, then the indemnifying party agrees that it shall be liable for any settlement of any Proceeding effected without its written consent if (i) such settlement is entered into more than 60 business days after receipt by such indemnifying party of the aforesaid request, (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement and (iii) such indemnified party shall have given the indemnifying party at least 30 days’ prior notice of its intention to settle. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened Proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such Proceeding and does not include an admission of fault, culpability or a failure to act, by or on behalf of such indemnified party. (b) The Sales Manager agrees to indemnify, defend and hold harmless the Fund and the Investment Adviser, and each of their respective shareholders, partners, managers, members, trustees, directors and officers, and any person who controls the Fund or the Investment Adviser within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, and the successors and assigns of all of the foregoing persons from and against any loss, damage, expense, liability or claim (including the reasonable cost of investigation), which, jointly or severally, the Fund, the Investment Adviser or any such person may incur under the Securities Act, the Exchange Act, the Investment Company Act, the Advisers Act, the common law or otherwise, insofar as such loss, damage, expense, liability or claim arises out of or is based upon any untrue statement or alleged untrue statement of a material fact contained in and in conformity with information concerning the Sales Manager furnished in writing by or on behalf of the Sales Manager to the Fund or the Investment Adviser expressly for use with reference to the Sales Manager in the Registration Statement (or in the Registration Statement as amended by any post-effective amendment thereof by the Fund) or in the Disclosure Package as set forth in Section 7(f) hereof, or arises out of or is based upon any omission or alleged omission to state a material fact in connection with such information required to be stated in such Registration Statement or the Disclosure Package or necessary to make such information not misleading (with respect to the Disclosure Package, in light of the circumstances under which they were made). If any Proceeding is brought against the Fund, the Investment Adviser or any such person in respect of which indemnity may be sought against the Sales Manager pursuant to the foregoing paragraph, the Fund, the Investment Adviser or such person shall promptly notify the Sales Manager in writing of the institution of such Proceeding and the Sales Manager shall assume the defense of such Proceeding, including the employment of counsel reasonably satisfactory to such indemnified party and payment of all fees and expenses; provided, however, that the omission to so notify the Sales Manager shall not relieve the Sales Manager from any liability which the Sales Manager may have to the Fund, the Investment Adviser or any such person to the extent the Sales Manager is not materially prejudiced as a result thereof and in any event shall not relieve the Sales Manager from any liability which it may have otherwise than on account of this indemnity agreement. The Fund, the Investment Adviser or such person shall have the right to retain employ its own counselcounsel in any such case, but the fees and expenses of such counsel shall be at the expense of the Fund, the Investment Adviser or such person, as the case may be, unless the employment of such counsel shall have been authorized in writing by the Sales Manager in connection with the defense of such Proceeding or the Sales Manager shall not have, within a reasonable period of time in light of the circumstances, employed counsel to have charge of the defense of such Proceeding or such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (ii) the named or parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that or them, which are different from or additional to or in addition to conflict with those available to the indemnifying party. It is understood Sales Manager (in which case the Sales Manager shall not have the right to direct the defense of such Proceeding on behalf of the indemnified party or parties, but the Sales Manager may employ counsel and participate in the defense thereof but the fees and expenses of such counsel shall be at the expense of the Sales Manager), in any of which events such fees and expenses shall be borne by the Sales Manager and paid as incurred (it being understood, however, that the indemnifying party Sales Manager shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, not be liable for the fees and expenses of more than one separate firm counsel (in addition to one any local counsel) for all such in any one Proceeding or series of related Proceedings in the same jurisdiction representing the indemnified parties and that all who are parties to such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such firm shall be designated in writing by the Agents, in the case of parties indemnified pursuant to Section 9(a), and by the Company in the case of parties indemnified pursuant to Section 9(bProceeding). The indemnifying party Sales Manager shall not be liable for any settlement of any proceeding such Proceeding effected without its the written consent, consent of the Sales Manager but if settled with such the written consent or if there be a final judgment for of the plaintiff, the indemnifying party Sales Manager agrees to indemnify and hold harmless the indemnified party Fund, the Investment Adviser and any such person from and against any loss or liability by reason of such settlement or judgmentsettlement. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences sentence of this paragraph, then the indemnifying party agrees that it shall be liable for any settlement of any proceeding Proceeding effected without its written consent if (i) such settlement is entered into more than 30 60 business days after receipt by such indemnifying party of the aforesaid request; , (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; settlement and (iii) such indemnifying indemnified party shall have received notice of given the terms of such settlement indemnifying party at least 30 days days’ prior notice of its intention to such settlement being entered intosettle. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding Proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding Proceeding and (y) does not include any statement as to or any an admission of fault, culpability or a failure to act act, by or on behalf of any such indemnified party. (dc) To the extent If the indemnification provided for in this Section 9(a) or 9(b) 7 is unavailable to an indemnified party or insufficient under subsections (a) and (b) of this Section 7 in respect of any losses, claimsdamages, damages expenses, liabilities or liabilities claims referred to therein, then each applicable indemnifying party under such paragraphparty, in lieu of indemnifying such indemnified party thereunderparty, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claimsdamages, damages expenses, liabilities or liabilities claims (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Fund and the Investment Adviser on the one hand, hand and the Agents, Sales Manager on the other hand, hand from the offering of the Preferred Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Transaction Entities, Fund and the Investment Adviser on the one hand, hand and of the Agents, Sales Manager on the other hand, in connection with the statements or omissions that omissions, which resulted in such losses, damages, expenses, liabilities or claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Fund and the Investment Adviser on the one hand, hand and the Agents, Sales Manager on the other hand, in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering (net of the Shares (underwriting discounts and commissions but before deducting expenses) received by the Transaction Entities Fund and the total discounts and commissions received by the Agents in connection with the offering of the Shares, bear to the aggregate Gross Sales Price public offering price of the Preferred Shares. The relative fault of the Transaction Entities, on the one hand, Fund and the Agents, Investment Adviser one hand and of the Sales Manager on the other hand, shall be determined by reference to, among other things, whether the untrue statement or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Fund or the Investment Adviser or by the Agents Sales Manager and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Agents’ respective obligations to contribute pursuant to this Section 9 are several in proportion to the respective total discounts and commissions they have received from the offering of the Shares, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities and the Agents agree that it would not be just or equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Agents were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 9, no Agent shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of the Shares exceeds the amount of any damages that such Agent has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 and the representations and, warranties of the Transaction Entities contained in, or made pursuant to, this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Agent, any person controlling any Agent or any affiliate of any Agent or by or on behalf of any Transaction Entity or any of their respective officers or directors or any person controlling any Transaction Entity and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.or

Appears in 1 contract

Sources: Sales Agreement (Gabelli Healthcare & WellnessRx Trust)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any documented legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising any Testing-the-Waters Communication, or arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the information described as such in paragraph (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed sign the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing thereto, which the parties hereto agree are limited to the third, eleventh, thirteenth, fourteenth and fifteenth paragraphs of the “Underwriters” section of the Prospectus, in reliance upon and in conformity with the Agent Information. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (x) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any indemnified partyproceeding. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

Appears in 1 contract

Sources: Underwriting Agreement (Adma Biologics, Inc.)

Indemnity and Contribution. (a) Each of the Transaction Entities, jointly and severally, The Company agrees to indemnify and hold harmless each AgentUnderwriter, its affiliates, directors, officers, members and employees and each person, if any, who controls any Agent Underwriter within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Agent Indemnified Party”) and each affiliate of any Underwriter within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) arising that arise out of of, or are based upon upon, any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any “road show” as defined in Rule 433(h) under the Securities Act (a “road show”), the Prospectus or any Permitted Free Writing Prospectusamendment or supplement thereto, or arising arise out of of, or are based upon upon, any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities arise out of, or are arising out or based upon upon, any such untrue statement or omission or alleged untrue statement or omission made in the Registration Statement or any amendment thereof, the Prospectus or any Permitted Free Writing Prospectus, in reliance upon and in conformity with any information relating to any Underwriter furnished to the Agent InformationCompany in writing by such Underwriter through the Representatives expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters through the Representatives consists of the information described as such in paragraph (b) below. (b) Each Agent Underwriter agrees, severally and not jointly, to indemnify and hold harmless each Transaction Entity, the Company’s , its directors, its officers who signed the Registration Statement and each person, if any, who controls either of the Transaction Entities Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Transaction Entities Company to such AgentUnderwriter, but only with respect reference to untrue statements or omissions, or alleged untrue statements or omissions, made information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or any amendment thereof, the Prospectus or any amendment or supplement thereto or any Permitted Free Writing thereto, which information is limited to the concession figure appearing in the sixth paragraph under the heading “Underwriting” and the information contained in the twelfth paragraph under the heading “Underwriting” set forth in each of the Time of Sale Prospectus and the Prospectus, in reliance upon and in conformity with the Agent Information. (c) In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 9(a8(a) or 9(b8(b), such person (the “indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the indemnifying party party, upon request of the indemnified party, shall be entitled to participate therein and, to the extent that it shall elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof under such subsection for any legal expenses of other counsel or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, (iii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party or (iv) the indemnified party shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the indemnifying party. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or separate but substantially similar or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to one any local counsel) for all such indemnified parties and that all such reasonable fees and expenses shall be reimbursed as they are incurred. If the indemnifying party does not elect to assume the defense, then such Such firm shall be designated in writing by the AgentsRepresentatives, in the case of parties indemnified pursuant to Section 9(a8(a), and by the Company Company, in the case of parties indemnified pursuant to Section 9(b8(b). The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, which will not be unreasonably withheld, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request; request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement; and (iii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (xi) includes an unconditional release of such indemnified party, in form and substance reasonably satisfactory to such indemnified party, party from all liability on claims that are the subject matter of such proceeding and (yii) does not include any statement statements as to or any admission findings of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) To the extent the indemnification provided for in Section 9(a8(a) or 9(b8(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand from the offering of the Shares or (ii) if the allocation provided by clause (i8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i8(d)(i) above but also the relative fault of the Transaction Entities, Company on the one hand, hand and of the Agents, Underwriters on the other hand, hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares (before deducting expenses) received by the Transaction Entities Company and the total underwriting discounts and commissions received by the Agents Underwriters, in connection with each case as set forth in the offering table on the cover of the SharesProspectus, bear to the aggregate Gross Sales Public Offering Price of the Shares. The relative fault of the Transaction Entities, Company on the one hand, hand and the Agents, Underwriters on the other hand, hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Transaction Entities Company or by the Agents Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The AgentsUnderwriters’ respective obligations to contribute pursuant to this Section 9 8 are several in proportion to the respective total discounts and commissions number of Shares they have received from the offering of the Sharespurchased hereunder, and not joint. The provisions set forth in Section 9(c) hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 9(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under section 9(d) hereof for purposes of indemnification. (e) The Transaction Entities Company and the Agents Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 9 8 were determined by pro rata allocation (even if the Agents Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 9(d8(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 98, no Agent Underwriter shall be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Agent in connection with the offering of price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Agent Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 9 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. (f) The indemnity and contribution provisions contained in this Section 9 8 and the representations andrepresentations, warranties and other statements of the Transaction Entities Company contained in, or made pursuant to, in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any AgentUnderwriter, any person controlling any Agent Underwriter or any affiliate of any Agent Underwriter or by or on behalf of any Transaction Entity or any of their respective the Company, its officers or directors or any person controlling any Transaction Entity the Company and (iii) any acceptance of and payment for any of the Shares. (g) For purposes of clarity and without limitation to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

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Sources: Underwriting Agreement (Polyone Corp)