Third Party Action Sample Clauses
A Third Party Action clause defines the procedures and responsibilities when a claim or lawsuit is brought against one of the contracting parties by an external party. Typically, this clause outlines how the notified party must inform the other party of the third-party claim, the process for defending or settling the claim, and the allocation of costs or liabilities arising from such actions. For example, if a customer sues a service provider due to a product defect, this clause would govern how the service provider and its supplier coordinate their response. The core function of this clause is to ensure clear communication and cooperation between the contracting parties when facing external legal challenges, thereby minimizing confusion and allocating risk appropriately.
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Third Party Action. No third-party action is pending or contemplated as a result of the injuries of the case(s). In the event third-party claims are pursued, the insurer(s), WAMO, SDF and SFG have preserved and would be entitled to liens pursuant to WCL § 29 for all payments made prior and pursuant to this agreement against any recoveries that may be derived from such claims. Moreover, the insurer(s), SDF, and SFG hereby reserve their respective rights to offset any and all medical benefits pursuant to WCL § 29(4). The claimant waives any right to petition the Board or any other court of competent jurisdiction for any additional monies representing the insurer’s equitable share of the claimant’s litigation expenses relating to the third-party action as otherwise permitted pursuant to Matter of ▇▇▇▇▇ v State Insurance Fund, 60 NY2d 131 (1983); Matter of ▇▇▇▇▇ v ▇▇▇▇▇▇▇▇, 9 NY3d 207 (2007); Matter of Bissell v Town of Amherst, 18 NY3d 697 (2012), as applicable to the case(s).
Third Party Action. Except as agreed to by the Parties in writing, following the Closing, PMI will have the sole and exclusive right and discretion to enforce the rights, title and interests in and to the Transferred Assets against Third Parties. If PMI is unable to enforce any obligation or other right without LD being party to an Action, then LD shall voluntarily join as a party in such Action as necessary to enforce any such obligation or other right; provided, that PMI agrees in advance to reimburse LD for its reasonable fees, costs and expenses relating thereto. Following the Closing, LD shall not testify (whether by declaration, affidavit, or in person) and LD shall not challenge or assist any Third Party in challenging the validity, enforceability or value of the Assigned Intellectual Property Rights or other Transferred Assets, in each case other than under subpoena or similar legal order.
Third Party Action. All Third-Party Action required in order to consummate the Closing on the terms hereof, other than any the absence of which in the aggregate would not have a material effect on the transactions contemplated hereby, shall have been taken.
Third Party Action. No third-party action is pending or contemplated as a result of the injuries of the case(s). In the event third-party claims are pursued, the insurer(s), SDF and SFG have preserved and would be entitled to liens pursuant to WCL § 29 for all payments made prior and pursuant to this agreement against any recoveries that may be derived from such claims. The claimant waives any right to petition the Board or any other court of competent jurisdiction for any additional monies representing the insurer’s equitable share of the claimant’s litigation expenses relating to the third-party action as otherwise permitted pursuant to Matter of ▇▇▇▇▇ v State Insurance Fund, 60 NY2d 131 (1983); Matter of ▇▇▇▇▇ v ▇▇▇▇▇▇▇▇, 9 NY3d 207 (2007); Matter of Bissell v Town of Amherst, 18 NY3d 697 (2012), as applicable to the case(s).
Third Party Action. Each Third Party shall have (i) taken all necessary and appropriate corporation and shareholder action and the Board of Directors of the Third Party shall have adopted resolutions authorizing the execution and delivery of the guaranty of such Third Party and the taking of all action called for thereby, and (ii) furnished to Secured Party certified copies of evidence of such corporate and shareholder action and such other corporate documents as Secured Party shall reasonably request.
Third Party Action. In the event that any action commenced in a court of appropriate jurisdiction against Seller by any person other than Buyer or an affiliate of Buyer (a "Third Party Action") enjoins or restrains Seller from Closing under this Agreement, then, and in that event, this Agreement shall be cancelled and terminated and the Deposit, together with interest earned thereon, shall be returned to Buyer and neither party shall have any further liability or obligation to the other hereunder except with respect to the indemnifications contained in Paragraphs 5(e), 7 and 22.
Third Party Action. If a third party initiates a claim of any nature in any court against any of the Parties arising out of or relating to any provision of this Agreement or any of the other Entrustment Agreements, the Parties agree that, as to such claim, the Party so named in such court proceeding may implead or otherwise join any of the remaining Parties in that proceeding, and that the existence of Sections 7.02 and 7.03 hereof (and the remedies prescribed thereunder) shall not act as a defense or bar to such impleader or joinder.
Third Party Action. (a) Shareholder will, jointly and severally, indemnify, defend and hold harmless each of Buyer, the Company and their officers, directors, employees, agents, shareholders and Affiliates (collectively, the "Buyer Indemnified Parties") against any Loss arising from, relating to or constituting any Litigation instituted by any third party arising out of the actions or inactions of the Company (or allegations thereof) with respect to the period up to and including the Closing Date that are or may be a Loss, and which arise as a result of any breach or inaccuracy in any of the representations or warranties of the Company or Shareholder contained in this Agreement, the Disclosure Schedule, any Ancillary Agreement or any closing certificate delivered by or on behalf of the Company pursuant to this Agreement or any Ancillary Agreement (any such breach or inaccuracy to be determined without regard to any qualification for "materiality", "in all material respects" or similar qualification) (any such third party action or proceeding being referred to as a "Third Party Action"). A Buyer Indemnified Party will give Shareholder prompt written notice of the commencement of a Third Party Action. The complaint or other papers pursuant to which the third party commenced such Third Party Action will be attached to such written notice. The failure to give prompt written notice will not affect any Buyer Indemnified Party's right to indemnification unless such failure has materially and adversely affected Shareholder's ability to defend successfully such Third Party Action. Notwithstanding anything in Section 8.5 to the contrary, written notice of commencement of a Third Party Action to Shareholder must be given within the same applicable time period as specified in subsection 8.4(a). Shareholder will not have any liability under this Section 8.5 unless the written notices required by the preceding sentence are given by the date specified.
(b) Shareholder will contest and defend such Third Party Action on behalf of any Buyer Indemnified Party that requests that it do so. Notice of the intention to so contest and defend will be given by Shareholder to the requesting Buyer Indemnified Party within 15 days after the Buyer Indemnified Party's notice of such Third Party Action (but, in any event, at least five business days prior to the date that a response to such Third Party Action is due to be filed, so long as Shareholder has received notice at least 10 days before a response to...
Third Party Action. When a Claim involves a Third Party Action, the Recipient of Claim shall have the option to prosecute or defend, at its expense, the Third Party Action, unless the potential liability of the Claimant in the Third Party Action exceeds the maximum liability of the Recipient of Claim established under Section 6.03 or Section 6.04. If the Recipient of Claim does not or cannot elect this option, the Claimant shall diligently prosecute or defend such claim as if it were paying any Losses arising from the Claim, but the Claimant shall not settle such Claim without the consent of the Recipient of Claim, which shall not be unreasonably withheld or delayed. If the Recipient of Claim has undertaken to prosecute or defend the Third Party Action, as permitted herein, then (1) the Claimant may participate, at its own expense, in any and all proceedings related to the Third Party Action and shall be entitled to receive copies of all notices and pleadings or other submissions in any judicial or regulatory proceeding, (2) there shall be no settlement of the Third Party Action without the consent of the Claimant (which shall not be unreasonably withheld or delayed), and (3) if the Claim is fully satisfied, the Recipient of Claim shall be subrogated to all rights and remedies of the Claimant. If the Recipient of Claim submits to the Claimant a bona fide settlement offer from the Third Party Claimant (which settlement offer shall include as an unconditional term of it the release by such Third Party of the Claimant from all liability in respect of such Claim) and the Claimant refuses to consent to such settlement, then thereafter the Recipient of Claim's liability to the Claimant under this Article VI with respect to such Third Party Action shall not exceed the settlement amount included in said bona fide settlement offer, and the Claimant shall either assume the defense of such Third Party Action or pay the Recipient of Claim's attorney's fees and other out-of-pocket costs incurred thereafter in continuing the defense of such Third Party Action. All parties to this Agreement shall cooperate in the defense and prosecution of Third Party Actions and shall furnish such records, information and testimony, and shall attend such conferences, discovery proceedings, hearings, trials and appeals, as may be reasonably requested in connection therewith.
Third Party Action. No action, proceeding, investigation, inquiry or objection by any Governmental Authority or other Person shall have been instituted or threatened which could enjoin, restrain or prohibit, or could result in substantial damages in respect of, any provision of this Agreement or the consummation of the transactions contemplated hereby.