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Apr 2, 2020 · An indemnity clause is a clause that allocates certain identified legal and commercial risks between contracting parties to the party who is best-placed to manage them. Indemnity clauses are sometimes also referred to as “indemnities” or “indemnified matters”.
Indemnity clauses, also known as indemnification clauses, require one party to reimburse the other for recoverable damages from third-party claims. The indemnifying party is demanding payment. The indemnified party is required to pay.
Indemnification clauses allow a contracting party to: Customize the amount of risk it is willing to undertake in each transaction and with every counterparty. Protect itself from damages and lawsuits that are more efficiently borne by the counterparty.
Indemnity. The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. The Company agrees to indemnify the Warrant Agent and save it harmless agains...
What is an Indemnity Clause? An indemnity clause is a contract provision that assigns certain defined legal and commercial risks to the contracting party that is best positioned to manage them. Indemnity clauses can sometimes be known as “indemnities” or “indemnified matters” in some instances.
The Company shall indemnify, defend, and hold harmless the Ramot Indemnitees against any liability, damage, loss, or expense (including reasonable attorneys fees and expenses of litigation) incurred by or imposed upon any of the Ramot Indemnitees in connection with any third party claims, suits, actions, demands or judgments (“Claims”) under any...
Aug 9, 2023 · Indemnification agreements, or “hold harmless” clauses, shift risks or potential costs from one party to another. One party to the contract promises to defend and pay costs and expenses of the other if specific circumstances arise (often a claim or dispute with a third party to the contract).
What are indemnity provisions? Indemnity provisions, also known as “indemnities” or “indemnity clauses”, are commonly included in contracts to allocate risk between contracting parties.
May 5, 2023 · You can have two types of indemnification clauses: Mutual indemnification: Both parties agree to compensate the other party for losses that are caused by the indemnifying party's breach of the contract. One-way indemnification: Only one party provides this indemnity in favor of the other party.
Feb 25, 2024 · An indemnity clause is standard in the majority of insurance agreements. However, exactly what is covered, and to what extent, depends on the specific agreement. Any indemnity agreement has...
