Common use of Failure to Assume Defense Clause in Contracts

Failure to Assume Defense. Failure by the indemnifying Party to notify the Indemnitee of its election to assume the defense of any Third Party Claim within thirty (30) days after its receipt of notice thereof pursuant to Section 10.3.1 shall be deemed a waiver by the indemnifying Party of its right to assume the defense of such Third Party Claim. In such event, the Indemnitee may defend against such Third Party Claim in any manner it deems appropriate. The Indemnitee may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts in good faith and in a commercially reasonable manner.

Appears in 2 contracts

Samples: Consulting Agreement (Gateway Energy Corp/Ne), Asset Purchase Agreement (Gateway Energy Corp/Ne)

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Failure to Assume Defense. Failure by the indemnifying Indemnifying Party to notify the Indemnitee of its election to assume the defense of any Third Party Claim within thirty (30) days after its receipt of notice thereof pursuant to Section 10.3.1 shall 8.6(a) will be deemed a waiver by the indemnifying Indemnifying Party of its right to assume the defense of such Third Party Claim. In such event, the Indemnitee may defend against such Third Party Claim in any manner it deems appropriate. The Indemnitee may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts in good faith and in a commercially reasonable manner.

Appears in 2 contracts

Samples: Unit Purchase Agreement (Argyle Security, Inc.), Unit Purchase Agreement (Argyle Security, Inc.)

Failure to Assume Defense. Failure by the indemnifying Party to notify the Indemnitee Beneficiary of its election to assume the defense of any Third Party Claim within thirty (30) days after its receipt of notice thereof pursuant to Section 10.3.1 shall be deemed a waiver by the indemnifying Party of its right to assume the defense of such Third Party Claim. In such event, the Indemnitee Beneficiary may defend against such Third Party Claim in any manner it deems appropriate, at the cost and expense of the Indemnifying Party. The Indemnitee Beneficiary may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts reasonably and in good faith and in a commercially reasonable mannerfaith.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Safety Kleen Corp/), Stock Purchase Agreement (Safety Kleen Corp/)

Failure to Assume Defense. Failure by the indemnifying Party Indemnifying Parties to notify the Indemnitee of its their election to assume the defense of any Third Party Claim within thirty (30) calendar days after its their receipt of notice thereof pursuant to Section 10.3.1 shall 9.4(a) will be deemed a waiver by the indemnifying Party Indemnifying Parties of its their right to assume the defense of such Third Party Claim. In such event, the Indemnitee may defend against such Third Party Claim in any manner it deems appropriate. The Indemnitee may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts in good faith and in a commercially reasonable manner.

Appears in 1 contract

Samples: Asset Purchase Agreement (Precision Optics Corporation, Inc.)

Failure to Assume Defense. Failure by the indemnifying Indemnifying Party to notify the Indemnitee of its election to assume the defense of any Third Party Claim within thirty (30) days after its receipt of notice thereof pursuant to Section 10.3.1 11.3.1 shall be deemed a waiver by the indemnifying Indemnifying Party of its right to assume the defense of such Third Party Claim. In such event, the Indemnitee may defend against such Third Party Claim in any manner it deems appropriate. The Indemnitee may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts in good faith and in a commercially reasonable manner.

Appears in 1 contract

Samples: Recapitalization Agreement (NPC International Inc)

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Failure to Assume Defense. Failure by the indemnifying Party to notify the Indemnitee of its election to assume the defense of any Third Party Claim within thirty (30) days after its receipt of notice thereof pursuant to Section 10.3.1 9.3.1 shall be deemed a waiver by the indemnifying Party of its right to assume the defense of such Third Party Claim. In such event, the Indemnitee may defend against such Third Party Claim in any manner it deems appropriate. The Indemnitee may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts in good faith and in a commercially reasonable manner.

Appears in 1 contract

Samples: Limited Partnership Interest Purchase Agreement (Entertainment Properties Trust)

Failure to Assume Defense. Failure by the indemnifying Party party to ------------------------- notify the Indemnitee of its election to assume the defense of any Third Party Claim within thirty (30) days after its receipt of notice thereof pursuant to Section 10.3.1 shall be deemed a waiver by the indemnifying Party party of its right to assume the defense of such Third Party Claim. In such event, event the Indemnitee may defend against such Third Party Claim in any manner it deems appropriate. The Indemnitee may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts in good faith and in a commercially reasonable manner.

Appears in 1 contract

Samples: Asset Purchase Agreement (Madison River Capital LLC)

Failure to Assume Defense. Failure by the indemnifying Party to notify the Indemnitee of its election to assume the defense of any Third Party Claim within thirty (30) days after its receipt of notice thereof pursuant to Section 10.3.1 5.3.1 shall be deemed a waiver by the indemnifying Party of its right to assume the defense of such Third Party Claim. In such event, the Indemnitee may defend against such Third Party Claim in any manner it deems appropriate. The Indemnitee may settle such Third Party Claim or consent to the entry of any judgment with respect thereto, provided that it acts in good faith and in a commercially reasonable manner.

Appears in 1 contract

Samples: Consulting Agreement (Gateway Energy Corp/Ne)

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