Common use of Claims Defined Clause in Contracts

Claims Defined. For the purposes of Sections 7.2, 7.3 and 7.4, "Claims" shall mean any and all costs, expenses, liabilities, obligations, losses, damages, penalties, actions or suits or claims of whatsoever kind or nature (whether or not on the basis of negligence, strict or absolute liability or liability in tort) which may be imposed on, incurred by, suffered by, or asserted against an Indemnified Person, any Unit or any Pledged Unit and, except as otherwise expressly provided in Section 7.2, 7.3 and 7.4, shall include, but not be limited to, all reasonable out-of-pocket costs, disbursements and expenses (including legal fees and expenses) paid or incurred by an Indemnified Person in connection therewith or related thereto.