Common use of Limitations of Right to Assume Defense Clause in Contracts

Limitations of Right to Assume Defense. The Indemnifying Party shall not be entitled to assume control of such defense if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation against the Indemnitee; or (ii) the Third Party Claim seeks an injunction or equitable relief against Indemnified Party.

Appears in 1 contract

Sources: Agreement and Plan of Reorganization (Ascend Acquisition Corp.)

Limitations of Right to Assume Defense. The Indemnifying Party Parties shall not be entitled to assume control of such defense and shall pay the reasonable fees and expenses of counsel retained by the Indemnified Parties if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation against the Indemniteeinvestigation; or (ii) the Third Party Claim seeks an injunction or equitable relief against Indemnified Partythe Indemnifying Parties; or (iii) there is a reasonable probability that a Third Party Claim could result in a Barington Material Adverse Effect.

Appears in 1 contract

Sources: Merger Agreement (Barington/Hilco Acquisition Corp.)

Limitations of Right to Assume Defense. The Indemnifying Party shall not be entitled to assume control of such defense if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation against the Indemniteeinvestigation; or (ii) the Third Party Claim seeks an injunction or equitable relief against the Indemnified Party; or (iii) there is a reasonable probability that a Third Party Claim may materially and adversely affect the Indemnified Party other than as a result of money damages or other money payments.

Appears in 1 contract

Sources: Stock Purchase Agreement (Equity Media Holdings CORP)

Limitations of Right to Assume Defense. The Indemnifying Party shall not be entitled to assume control of such the defense of a Third Party Claim if (i) the such Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation against the Indemniteean Indemnified Party; or (ii) the such Third Party Claim seeks an injunction or equitable relief against an Indemnified Party.

Appears in 1 contract

Sources: Merger Agreement (Andina Acquisition Corp. II)

Limitations of Right to Assume Defense. The Indemnifying Party shall not be entitled to assume control of such defense if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation against arising in connection with the Indemniteepotential criminal conduct of that party; or (ii) the there is a reasonable likelihood that a Third Party Claim seeks an injunction will materially and adversely affect the Indemnifying Party other than as a result of money damages or equitable relief against Indemnified Partyother money payments.

Appears in 1 contract

Sources: Stock Purchase Agreement (Mercator Partners Acquisition Corp.)

Limitations of Right to Assume Defense. The Indemnifying Party Parties shall not be entitled to assume control of such defense and shall pay the reasonable fees and expenses of counsel retained by the Indemnified Parties if (i) the Third Party Claim relates to or arises in connection with any is a criminal proceeding, action, action or indictment, allegation or investigation against the Indemnitee; or (ii) the Third Party Claim seeks an injunction or equitable relief against Indemnified Party.

Appears in 1 contract

Sources: Agreement and Plan of Reorganization (Harmony Merger Corp.)