Notice and Control. In the event that a Party is seeking indemnification under this Section 12.3, it shall inform the indemnifying Party of a claim as soon as reasonably practicable after it receives notice of the claim, shall permit the indemnifying Party to assume direction and control of the defense of the claim (including the right to settle the claim solely for monetary consideration), shall cooperate as requested (at the expense of the indemnifying Party) in the defense of the claim, and shall not settle or compromise the claim without the express written consent of the indemnifying Party.
Appears in 2 contracts
Sources: Collaboration Agreement (Transition Therapeutics Inc.), Collaboration Agreement (Transition Therapeutics Inc.)