Common use of Specific Limitations on Indemnification Clause in Contracts

Specific Limitations on Indemnification. Notwithstanding anything in this Agreement to the contrary, the Companies shall not be obligated under this Agreement to make any payment to Indemnitee with respect to any Proceeding: (a) To the extent that payment is actually made to Indemnitee under any insurance policy, or is made to Indemnitee by either of the Companies or affiliates otherwise than pursuant to this Agreement. Notwithstanding the availability of such insurance, Indemnitee also may claim indemnification from the Companies pursuant to this Agreement by assigning to the Companies any claims under such insurance to the extent Indemnitee is paid by the Companies; (b) For Liabilities in connection with Proceedings settled without the Companies’ consent, which consent, however, shall not be unreasonably withheld; (c) In no event shall the Companies be liable to pay the fees and disbursements of more than one counsel in any single Proceeding except to the extent that, in the opinion of counsel of the Indemnitee, the Indemnitee has conflicting interests in the outcome of such Proceeding; or (d) To the extent it would be otherwise prohibited by law, if so established by a judgment or other final adjudication adverse to Indemnitee.

Appears in 2 contracts

Sources: Indemnification & Liability (Kura Oncology, Inc.), Indemnification & Liability (Intra-Cellular Therapies, Inc.)

Specific Limitations on Indemnification. Notwithstanding anything in this Agreement to the contrary, the Companies shall not be obligated under this Agreement to make any payment to Indemnitee with respect to any Proceeding: (a) To the extent that payment is actually made to Indemnitee under any insurance policy, or is made to Indemnitee by either any of the Companies or affiliates otherwise than pursuant to this Agreement. Notwithstanding the availability of such insurance, Indemnitee also may claim indemnification from the Companies pursuant to this Agreement by assigning to the Companies any claims under such insurance to the extent Indemnitee is paid by the Companies; (b) For Liabilities in connection with Proceedings settled without the Companies’ consent, which consent, however, shall not be unreasonably withheld; (c) In no event shall the Companies be liable to pay the fees and disbursements of more than one counsel in any single Proceeding except to the extent that, in the opinion of counsel of the Indemnitee, the Indemnitee has conflicting interests in the outcome of such Proceeding; or (d) To the extent it would be otherwise prohibited by law, if so established by a judgment or other final adjudication adverse to Indemnitee.

Appears in 1 contract

Sources: Indemnification Agreement (W. S. Industries, Inc.)

Specific Limitations on Indemnification. Notwithstanding anything in this Agreement to the contrary, the Companies shall not be obligated under this Agreement to make any payment to Indemnitee Indemnitees with respect to any Proceeding: (a) To the extent that payment is actually made to Indemnitee Indemnitees under any insurance policy, or is made to Indemnitee Indemnitees by either of the Companies or affiliates otherwise than pursuant to this Agreement. Notwithstanding the availability of such insurance, Indemnitee Indemnitees also may claim indemnification from the Companies pursuant to this Agreement by assigning to the Companies any claims under such insurance to the extent Indemnitee is Indemnitees are paid by the Companies; (b) For Liabilities in connection with Proceedings settled without the Companies’ consent, which consent, however, shall not be unreasonably withheld; (c) In no event shall the Companies be liable to pay the fees and disbursements of more than one counsel in any single Proceeding except to the extent that, in the opinion of counsel of the IndemniteeIndemnitees, the Indemnitee has Indemnitees have conflicting interests in the outcome of such Proceeding; , or (d) To the extent it would be otherwise prohibited by law, if so established by a judgment or other final adjudication adverse to IndemniteeIndemnitees.

Appears in 1 contract

Sources: Indemnification & Liability (SRKP 4 Inc)

Specific Limitations on Indemnification. Notwithstanding anything in this Agreement agreement to the contrary, the Companies shall not be obligated under this Agreement agreement to make any payment to Indemnitee with respect to any Proceeding: (a) To the extent that payment is actually made to Indemnitee under any insurance policy, or is made to Indemnitee by either of the Companies or affiliates otherwise than pursuant to this Agreementagreement. Notwithstanding the availability of such insurance, Indemnitee also may claim indemnification from the Companies pursuant to this Agreement agreement by assigning to the Companies any claims under such insurance to the extent Indemnitee is paid by the Companies; (b) For Liabilities in connection with Proceedings settled without the Companies’ consent, which consent, however, shall not be unreasonably withheld; (c) In no event shall the Companies be liable to pay the fees and disbursements of more than one counsel in any single Proceeding except to the extent that, in the opinion of counsel of the Indemnitee, the Indemnitee has have conflicting interests in the outcome of such Proceeding; , or (d) To the extent it would be otherwise prohibited by law, if so established by a judgment or other final adjudication adverse to Indemnitee.

Appears in 1 contract

Sources: Indemnification Agreement (Denali Sciences, Inc.)

Specific Limitations on Indemnification. Notwithstanding anything in this Agreement to the contrary, the Companies shall not be obligated under this Agreement to make any payment to Indemnitee Indemnitees with respect to any Proceeding: (a) To the extent that payment is actually made to Indemnitee Indemnitees under any insurance policy, or is made to Indemnitee Indemnitees by either of the Companies or affiliates otherwise than pursuant to this Agreement. Notwithstanding the availability of such insurance, Indemnitee Indemnitees also may claim indemnification from the Companies pursuant to this Agreement by assigning to the Companies any claims under such insurance to the extent Indemnitee is Indemnitees are paid by the Companies; (b) For Liabilities in connection with Proceedings settled without the Companies’ consent, which consent, however, shall not be unreasonably withheld; (c) In no event shall the Companies be liable to pay the fees and disbursements of more than one counsel in any single Proceeding except to the extent that, in the opinion of counsel of the IndemniteeIndemnitees, the Indemnitee has Indemnitees have conflicting interests in the outcome of such Proceeding; or (d) To the extent it would be otherwise prohibited by law, if so established by a judgment or other final adjudication adverse to IndemniteeIndemnitees.

Appears in 1 contract

Sources: Indemnification Agreement (Innovative Acquisitions Corp)