Common use of Indemnification Clause in Contracts

Indemnification. (a) The Company agrees to indemnify and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 6 contracts

Sources: Securities Purchase Agreement (American International Petroleum Corp /Nv/), Securities Purchase Agreement (Dial Thru International Corp), Securities Purchase Agreement (Directplacement Inc)

Indemnification. (a) The Subject to the provisions of this Section 4.8, and to the extent permitted by law, the Company agrees to will indemnify and hold harmless Purchasereach Purchaser and its directors, its Affiliatesofficers, shareholders, members, partners, employees, agents and each Person, if any, who controls Purchaser, or any of its Affiliates, controlling persons (within the meaning of Section 15 of the Securities Act or and Section 20 of the Exchange Act Act) (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified “Purchaser Party") and collectively, the "Indemnified Parties"), harmless from and against any and all losses, claimsliabilities, damages, liabilities costs and expenses (includingexpenses, without limitation including all judgments, amounts paid in settlements, court costs and as incurred, reasonable attorneys’ fees and costs of investigating, preparing or defending investigation that any such Purchaser Party may suffer or incur due to a claim by a third party as a result of or action, whether or not such Indemnified relating to any action instituted against a Purchaser Party is a party thereto, provided that by any stockholder of the Company shall who is not be obligated to advance an Affiliate of such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder Purchaser, with respect to any of the transactions contemplated by the Transaction Documents, except to the extent that that a loss, liability, damage, cost or expense is attributable to a breach of such costs) which Purchaser’s representations, warranties or covenants under the Transaction Documents or any agreements or understandings such Purchaser may be incurred have with such stockholder or any violations by such Indemnified Party in connection with any investigative, administrative Purchaser of state or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement federal securities laws or any other services rendered in connection herewith; provided that the Company will not be responsible for any claimsconduct by such Purchaser which constitutes fraud, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) malfeasance. If any claim, action or proceeding shall be brought against an Indemnified any Purchaser Party with in respect to of which indemnity may be sought against the Company under pursuant to this Agreement, such Indemnified Purchaser Party shall promptly notify the Company in writing and writing; provided, however, that the failure timely to give such notice shall affect the rights of such Purchaser Party hereunder only to the extent that such failure has a material prejudicial effect on the defenses or other rights available to the Company with respect to such claim, action or proceeding. At the election of the Company, at its option, may, the Company shall have the right to assume the defense thereof, including thereof with counsel of its own choosing reasonably acceptable to the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expensesPurchaser Party. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Any Purchaser Party shall have the right to employ separate counsel in any such claim, action or proceeding and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless Purchaser Party except to the extent that (i) the employment thereof has been specifically authorized by the Company in writing, (ii) the Company has failed after a reasonable period of time to assume the such defense and to employ counsel or (iiiii) in such claim, action or proceeding there is, in the named parties to reasonable opinion of counsel, a material conflict on any such action (including any impleaded parties) include such Indemnified Party material issue between the position of the Company and the Company, and position of such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the CompanyPurchaser Party, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, case the Company shall not be responsible for the reasonable fees and expenses of no more than one such separate counsel. The Company will have the exclusive right to assume the defense of such settle any claim, action or proceeding on behalf of such Indemnified Party, proceeding; provided, however, that the Company shall notwill not settle any such claim, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaserthe Purchaser Party, settle which will not be unreasonably withheld or compromise or delayed; provided, however, that such consent to shall not be required if the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is settlement includes a party thereto) unless such settlement, compromise, consent or termination includes an express full and unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising or that may arise out of such actionclaim or proceeding and does not include a statement as to or an admission of fault, claim, suit culpability or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant a failure to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made act by or on behalf of any Purchaser or any other Indemnified Party.

Appears in 5 contracts

Sources: Securities Purchase Agreement (Catasys, Inc.), Securities Purchase Agreement (Hythiam Inc), Securities Purchase Agreement (Hythiam Inc)

Indemnification. (a) The Company agrees to will indemnify and hold harmless PurchaserCarlyle and its officers, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partnersemployees, agents, employeesrepresentatives, officers members and Directors of Purchaser, their Affiliates and any such Controlling Person affiliates (each being an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, costs, expenses, claims, damagesdamages and liabilities (the “Liabilities”) to which such Indemnified Party may become subject under any applicable law, liabilities or any claim made by any third party, or otherwise, to the extent they relate to or arise out of the performance of the Services contemplated by this Agreement or the engagement of Carlyle pursuant to, and the performance by Carlyle of the Services contemplated by, this Agreement. The Company will reimburse any Indemnified Party for all reasonable costs and expenses (includingincluding reasonable attorneys’ fees and expenses) as they are incurred in connection with the investigation of, without limitation and as incurredpreparation for or defense of any pending or threatened claim for which the Indemnified Party would be entitled to indemnification under the terms of the previous sentence, reasonable costs of investigating, preparing or defending any such claim action or actionproceeding arising therefrom, whether or not such Indemnified Party is a party theretohereto, provided that that, subject to the following sentence, the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereofthereof at its own expense, including the employment of with counsel reasonably satisfactory to such Indemnified Party and payment of all in its reasonable fees and expensesjudgment. The failure to so notify the Company shall not affect any obligations the Company may have to such Any Indemnified Party under this Agreement may, at its own expense, retain separate counsel to participate in such defense, and in any action, claim or otherwise unless proceeding in which the Company Company, on the one hand, and an Indemnified Party, on the other hand, is, or is materially adversely affected by reasonably likely to become, a party, such failure. Such Indemnified Party shall have the right to employ separate counsel in at the Company’s expense and to control its own defense of such action and participate action, claim or proceeding if, in the defense thereof, but the fees and expenses reasonable opinion of such counsel shall be at the expense of to such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel a conflict or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and potential conflict exists between the Company, on the one hand, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, howeveron the other hand, that the Company shall not, in connection with any one would make such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaserrepresentation advisable. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company that it will not, without the prior written consent of Purchaserthe applicable Indemnified Party, settle or settle, compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit action or proceeding in respect relating to which indemnification or contribution may be sought hereunder the matters contemplated hereby (whether or not if any Indemnified Party is a party thereto or has been actually threatened to be made a party thereto) unless such settlement, compromise, compromise or consent or termination includes an express unconditional release of Purchaser the applicable Indemnified Party and the each other Indemnified Parties, satisfactory in form and substance to Purchaser, Party from all liability arising or that may arise out of such actionclaim, action or proceeding. Provided that the Company is not in breach of its indemnification obligations hereunder, no Indemnified Party shall settle or compromise any claim subject to indemnification hereunder without the consent of the Company. The Company will not be liable under the foregoing indemnification provision to the extent that any loss, claim, suit damage, liability, cost or proceeding. (c) expense is determined by a court, in a final judgment from which no further appeal may be taken, to have resulted solely from the gross negligence or willful misconduct of Carlyle. If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmlessis reimbursed hereunder for any expenses, then in lieu such reimbursement of indemnifying such Indemnified Party, the Company expenses shall contribute be refunded to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) extent it is finally judicially determined that the Liabilities in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other question resulted solely from the transactions contemplated by this Agreement gross negligence or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault willful misconduct of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationCarlyle. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 5 contracts

Sources: Management Agreement (Booz Allen Hamilton Holding Corp), Management Agreement (Nova Scotia 3091782), Management Agreement (UCI Holdco, Inc.)

Indemnification. (a) The Company agrees to Customer, at its sole expense, will defend, indemnify and hold harmless PurchaserArcserve and its directors, its Affiliatesofficers, and each Personemployees, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partnerscontractors, agents, employeesdistributors, officers resellers, successors and Directors of Purchaser, their Affiliates and any such Controlling Person assigns (each an "Indemnified Party"“Arcserve Indemnitees”) and collectively, the "Indemnified Parties"), harmless from and against any and all lossesactual or threatened suits, claimsactions, proceedings (at law or in equity), claims (groundless or otherwise), damages, liabilities payments, deficiencies, fines, judgments, settlements, liabilities, losses, costs and expenses (including, without limitation and as incurredbut not limited to, reasonable costs of investigatingattorney fees, preparing or defending costs, penalties, interest and disbursements) resulting from any such claim or third party claim, suit, action, or proceeding (“Claim”) against an Arcserve Indemnitee, whether successful or not such Indemnified Party is a party theretonot, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received resulting from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party or arising in connection with with: (i) any investigativegross negligence or willful misconduct by Customer; (ii) any breach by Customer of this Agreement (including, administrative but not limited to, any breach by Customer of its representation or judicial proceeding brought warranties); or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement (iii) Customer Data (or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Companyportion thereof). Arcserve, at its optionsole expense, maywill defend Customer and its directors, assume the defense thereofofficers, including the employment of counsel reasonably satisfactory to such Indemnified Party employees, contractors, agents, successors and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless assigns (i“Customer Indemnitees”) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss and all Claims, and indemnify and hold Customer harmless from damages awarded or liability by reason of paid in settlement of such Claims, (including, but not limited to, reasonable attorney fees, costs, penalties, interest and disbursements incurred in defense thereof) resulting from any action effected with Claim against a Customer Indemnitee, whether successful or not, resulting from or arising in connection with: (a) any gross negligence or willful misconduct by Arcserve; or (b) any material failure by Arcserve to maintain the consent Security Obligations. The indemnifying party’s indemnification obligations under this section are conditioned upon the indemnified party: (x) giving prompt notice of the CompanyClaim to the indemnifying party once the indemnified party becomes aware of the Claim; (y) granting sole control of the defense and settlement of the Claim to the indemnifying party (except that the indemnified party’s prior written approval will be required for any settlement that reasonably can be expected to require an affirmative obligation of or result in any ongoing liability to the indemnified party); and (z) providing reasonable cooperation to the indemnifying party and, at the indemnifying party’s request and expense, assistance in the defense or settlement of the Claim. In additionNotwithstanding any terms to the contrary in this Agreement, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent failure to give notice to the entry indemnifying party within a reasonable time of the commencement of any judgment in or otherwise seek to terminate Claim under this section will relieve the indemnifying party of any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmlessindemnified party under this section, then in lieu of indemnifying such Indemnified Party, the Company shall contribute only to the amount paid or payable by extent that such Indemnified Party as a result of failure materially prejudices the indemnifying party’s ability to defend such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationClaim. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 5 contracts

Sources: Terms of Service, Terms of Service, Terms of Service

Indemnification. (a) The Company If either party to this Agreement brings an action based on this Agreement, the prevailing party shall be entitled to recover reasonable expenses therefor, including, but not limited to, attorneys' fees, expenses and court costs. In addition, MYM agrees to indemnify and hold harmless Purchaserthe Advisor and his affiliates, its Affiliatescounsel and other professional advisors, the respective directors, officers, agents and employees of each Person, if any, who controls Purchaser, of the foregoing or any of its Affiliates, their affiliates within the meaning of either Section 15 of the Securities Act of 1933, as amended, or Section 20 of the Securities and Exchange Act of 1934, as amended, (eachindividually, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") " and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, expenses or liabilities resulting from, relating to, or arising out of action taken or omitted to be taken (i) by the Company or (ii) by an Indemnified Party in good faith pursuant to the terms of, or in connection with, services rendered pursuant to this Agreement or any of the transactions covered thereby. In addition, the Company agrees to reimburse each Indemnified Party for all reasonable out-of-pocket and direct expenses (including reasonable fees and expenses (including, without limitation and of counsel) as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be they are incurred by such Indemnified Party in connection with investigating, preparing or defending any investigativesuch action or claim, administrative whether or judicial proceeding brought or threatened that relates to or arises out of, or is not in connection with litigation in which any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that Indemnified Party is named party. Notwithstanding the Company will foregoing, MYM shall not be responsible for liable to an Indemnified Party in respect to any claimsloss, liabilitiesclaim, lossesdamage, damages liability or expenses that are determined by expense to the extent the same is determined, in a final judgment of by a court of competent jurisdiction jurisdiction, to result have resulted primarily and directly from such the gross negligence or willful misconduct of that Indemnified Party's gross negligence, willful misconduct . In the event of the assertion against any Indemnified Party of any claim or bad faith. (b) If the commencement of any action or proceeding, MYM shall be brought against an Indemnified Party with respect entitled to which indemnity may be sought against participate in such action or proceeding, and in the Company under this Agreementinvestigation of such claim, such Indemnified Party shall promptly notify the Company in writing and after written notice from the Company, to assume the investigation or defense of such claim, action or proceeding with counsel of its choice at its optionexpense; provided however, may, that such counsel shall be reasonably satisfactory to that Indemnified Party. Notwithstanding MYM's election to assume the defense thereofor investigation of such claim, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect action or proceeding, any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action (and local counsel, if necessary) and to participate in the defense thereofor investigation of such claim, but action or proceeding, and the Company shall advance and bear the expense (including reasonable fees and expenses disbursements) of such counsel separate counsel. In the event that MYM shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume have assumed the defense and employ counsel or (ii) the named parties to investigation of any such claim, action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Companyproceeding, the Company shall may not have the right to assume the defense of settle any such claim, action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) named as defendant therein. If for any reason the foregoing indemnity indemnification is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or is insufficient to hold an Indemnified Party harmless, it harmless as contemplated herein then in lieu of the indemnifying such Indemnified Party, the Company party shall contribute to the amount paid or payable by such the Indemnified Party as a result of such claimsloss, liabilitiesclaim, losses, damages, liability or expenses (i) expense in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is it appropriate to reflect not only the relative benefits received by the Company and their affiliates, on the one hand hand, and Purchaser the Advisor, or the other applicable Indemnified Party, as the case may be, on the otherother hand, but also the relative fault of the Company and Purchaser their affiliates and any Indemnified Party, as the case may be, as well as any other relevant equitable considerations. Notwithstanding , subject to the provisions of this Section 13.3, limitation that in any event the aggregate contribution of all Indemnified Parties to all losses, claims, liabilities, damages and expenses shall not exceed the amount of interest and fees actually received by Purchaser the Advisor pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company MYM on the one hand and Purchaser the Advisor on the other hand with respect to the transactions any transaction or proposed transaction contemplated hereby by this Agreement shall be determined by reference to, among other things, whether any untrue or alleged untrue statement deemed to be in the same proportion as (i) the total value of material fact or the omission or alleged omission transaction to state a material fact related (ii) the fee paid to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access Advisor with respect to information and opportunity to correct or prevent such statement or omissiontransaction. No Person guilty of fraudulent misrepresentation (within Indemnified party shall have any liability to MYM or any other person in connection with the meaning of Section 11(f) of services rendered pursuant to this Agreement, except for the Securities Act) shall be entitled liability for losses, claims, damages or liabilities finally judicially determined to contribution have resulted from any Person who was not guilty of such fraudulent misrepresentation. (d) Indemnified Party's gross negligence or willful misconduct. The indemnificationindemnity, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) herein shall be in addition to any liability the Company may have to any an Indemnified Party at common law or otherwise; (ii) , and shall survive the termination expiration of the term of this Agreement and Agreement. If any personnel of an Indemnified Party appears as a witness, are deposed or are otherwise involved in the other Transaction Agreements and the payment in full defense of any action against any Indemnified Party, MYM or any officer or director of the Convertible Debentures Company, MYM will reimburse such Indemnified Party for all reasonable out-of-pocket and direct expenses (iiiincluding the reasonable fees and expenses of counsel for such Indemnified Party) shall remain operative and in full force and effect regardless incurred by it by reason of any investigation made of its personnel being involved in any such action and will compensate the Advisor for time spent, by his employees preparing for and testifying as witnesses in any deposition or on behalf proceeding at the Advisor's customary daily rates. Governing Law This Agreement shall be governed by and construed in accordance with the internal substantive laws, and not the choice of Purchaser law rules, of the State of New York. Any suits, claims, causes of action, or any other Indemnified Partydisputes arising under this Agreement shall be brought in the courts of the State of New York or in the United States District Court of the Southern District of New York.

Appears in 5 contracts

Sources: Financial Advisory Agreement (Make Your Move Inc), Financial Advisory Agreement (Make Your Move Inc), Financial Advisory Agreement (Make Your Move Inc)

Indemnification. 7.1 To the fullest extent permitted by law, and subject to the limitations set forth in Section 6 of this Agreement, each Party (athe “Indemnifying Party”) The Company agrees to shall indemnify and hold harmless Purchaser, its Affiliatesthe other Party, and each Personits current and future direct and indirect parent companies, if anyaffiliates and their shareholders, who controls Purchaserofficers, or any of its Affiliatesdirectors, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partnersemployees, agents, employees, officers servants and Directors of Purchaser, their Affiliates and any such Controlling Person assigns (each an "Indemnified Party") and collectively, the "Indemnified Parties")Party”) and at the Indemnified Party's option, the Indemnifying Party shall defend the Indemnified Party from and against any and all claims and/or liabilities for losses, claimsexpenses, damagesdamage to property, liabilities and expenses (injury to or death of any person, including, without limitation but not limited to, the Indemnified Party’s employees and as incurredits affiliates’ employees, subcontractors and subcontractors’ employees, or any other liability incurred by the Indemnified Party, including reasonable costs expenses, legal and otherwise, which shall include reasonable attorneys’ fees, caused wholly or in part by any negligent, grossly negligent or willful act or omission by the Indemnifying Party, its officers, directors, employees, agents or assigns arising out of investigatingthis Agreement, preparing except to the extent caused wholly or defending in part by any such negligent, grossly negligent or willful act or omission of the Indemnified Party. 7.2 If any claim or actioncovered by Section 7.1 is brought against the Indemnified Party, whether or not such then the Indemnifying Party shall be entitled to participate in, and unless in the opinion of counsel for the Indemnified Party is a party thereto, provided that conflict of interest between the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder Parties may exist with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigativeclaim, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf claim, with counsel reasonably acceptable to the Indemnified Party. If the Indemnifying Party does not assume the defense of such the Indemnified Party, providedor if a conflict precludes the Indemnifying Party from assuming the defense, howeverthen the Indemnifying Party shall reimburse the Indemnified Party on a monthly basis for the Indemnified Party’s defense through separate counsel of the Indemnified Party's choice. Even if the Indemnifying Party assumes the defense of the Indemnified Party with acceptable counsel, that the Company shall notIndemnified Party, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings at its sole option, may participate in the same jurisdiction arising out defense, at its own expense, with counsel of its own choice without relieving the same general allegations Indemnifying Party of any of its obligations hereunder. In no event shall either Party be liable to the other Party for any indirect, special, consequential, or circumstancespunitive damages of any kind whatsoever, be responsible hereunder for the reasonable fees whether in contract, tort or strict liability. 7.3 The Indemnifying Party's obligation to indemnify under this Section 7 shall survive termination of this Agreement, and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable limited in any way by any limitation on the amount or type of damages, compensation or benefits payable by or for the Indemnifying Party under any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In additionstatutory scheme, the Company will notincluding, without the prior written consent of Purchaserlimitation, settle under any Worker’s Compensation Acts, Disability Benefit Acts or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceedingEmployee Benefit Acts. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 5 contracts

Sources: Energy Service Provider Service Agreement, Electric Service Provider Agreement, Electric Service Provider (Esp) Service Agreement

Indemnification. (a) The Company agrees to indemnify and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), Parties from and against any and all losses, claims, damages, losses, liabilities and expenses (including, without limitation limitation, fees and disbursements of counsel), that may be incurred by or asserted or awarded against any Indemnified Party, in each case arising out of this Agreement (including as incurreda result of any breach or inaccuracy of any representation, reasonable costs warranty or covenant herein), the other Offering Documents, or the transactions contemplated hereby or thereby, solely to the extent such Offering Documents or transactions contemplated thereby relate to this Agreement and the Series C Preferred Equity Offering, any use made or proposed to be made with the proceeds of investigatingthe Series C Preferred Equity Offering, preparing or defending any such claim claim, litigation, investigation or actionproceeding relating to any of the foregoing, regardless of whether or not such any Indemnified Party is a party thereto, provided that and the Company shall not reimburse each Indemnified Party upon demand for reasonable and documented fees and expenses of counsel (which, so long as there are no conflicts among such Indemnified Parties, shall be obligated limited to advance such costs one law firm serving as counsel for the Indemnified Parties) and other expenses incurred by it in connection with investigating, preparing to defend or defending, or providing evidence in or preparing to serve or serving as a witness with respect to, any lawsuit, investigation, claim or other proceeding relating to any Indemnified Party other than Purchaser unless it has received of the foregoing, irrespective of whether the transactions contemplated hereby are consummated, except to the extent such claim, damage, loss, liability, or expense is found in a Final Order to have resulted from such Indemnified Party’s bad faith, actual fraud, gross negligence, or willful misconduct. No Indemnified Party an undertaking to repay shall have any liability (whether direct or indirect, in contract, tort or otherwise) to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party for or in connection with any investigativethe transactions contemplated hereby, administrative or judicial proceeding brought or threatened that relates except to or arises out ofthe extent such liability is found in a final, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment non-appealable order of a court of competent jurisdiction to result have resulted from such Indemnified Party's gross negligence, willful misconduct or ’s bad faith. (b) If , actual fraud, gross negligence or willful misconduct. In no event, however, shall the Company or any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against liable on any theory of liability for any special, indirect, consequential or punitive damages. Without the prior written consent of the Indemnified Parties, the Company under agrees that it will not enter into any settlement of any lawsuit, claim or other proceeding arising out of this Agreement, the other Offering Documents, or the transactions contemplated hereby or thereby, solely to the extent such Offering Documents or transactions contemplated thereby relate to this Agreement and the Series C Preferred Equity Offering, unless such settlement (i) includes an explicit and unconditional release from the party bringing such lawsuit, claim or other proceeding of all Indemnified Parties and (ii) does not include a statement as to or an admission of fault, culpability, or a failure to act by or on behalf of any Indemnified Party. No Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement damages arising from the use by unauthorized persons of any information made available to the Indemnified Parties by the Company or any of its representatives through electronic, telecommunications or other information transmission systems that is intercepted by such action effected persons. No Indemnified Party shall settle any lawsuit, claim, or other proceeding arising out of this Agreement, the other Offering Documents, or the transactions contemplated hereby or thereby without the prior written consent of the Company (which shall such consent not to be unreasonably withheld) and withheld or delayed). Notwithstanding the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In additionforegoing, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability no indemnification by the Company may have to for any claim, damage, loss, liability, or expense incurred by or asserted or awarded against such Indemnified Party at common law or otherwise; (ii) shall survive the termination for any violation of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made Law by or on behalf of Purchaser or any other such Indemnified Party.

Appears in 5 contracts

Sources: Series C Convertible Preferred Stock Purchase Agreement (NextDecade Corp.), Series C Convertible Preferred Stock Purchase Agreement (NextDecade Corp.), Series C Convertible Preferred Stock Purchase Agreement (York Capital Management Global Advisors, LLC)

Indemnification. (a) The Company Each Lender Party severally agrees to indemnify and hold harmless Purchaser, its Affiliates, each Lead Arranger and each PersonAgent (to the extent not promptly reimbursed by the Borrower) from and against such Lender Party’s ratable share (determined as provided below) of any and all liabilities, if anyobligations, who controls Purchaserlosses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever that may be imposed on, incurred by, or asserted against such Agent in any of its Affiliates, within the meaning way relating to or arising out of the Securities Act Loan Documents or any action taken or omitted by such Agent under the Exchange Act Loan Documents (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"Costs”); provided, from and against however, that no Lender Party shall be liable for any and all portion of such liabilities, obligations, losses, claims, damages, liabilities penalties, actions, judgments, suits, costs, expenses or disbursements resulting from such Agent’s or such Lead Arranger’s gross negligence or willful misconduct as found in a final, non-appealable judgment by a court of competent jurisdiction with respect to such Agent or the Joint Lead Arrangers, as the case may be. Without limitation of the foregoing, each Lender Party agrees to reimburse the Joint Lead Arrangers and each Agent promptly upon demand for its ratable share of any costs and expenses (including, without limitation limitation, fees and as incurredexpenses of counsel) payable by the Borrower under Section 8.04, reasonable costs of investigating, preparing to the extent that such Lead Arranger or defending any such claim or action, whether or Agent is not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance promptly reimbursed for such costs and expenses by the Borrower. In the case of any investigation, litigation or proceeding giving rise to any Indemnified Party other than Purchaser unless it has received from Costs, this Section 7.05 applies whether any such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigativeinvestigation, administrative litigation or judicial proceeding is brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement Lender Party or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faithPerson. (b) If Each Lender Party severally agrees to indemnify each Issuing Bank (to the extent not promptly reimbursed by the Borrower) from and against such Lender Party’s ratable share (determined as provided below) of any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever that may be imposed on, incurred by, or asserted against such Issuing Bank in any way relating to or arising out of the Loan Documents or any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement taken or otherwise unless the Company is materially adversely affected omitted by such failure. Such Indemnified Party shall have Issuing Bank under the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, Loan Documents; provided, however, that the Company no Lender Party shall notbe liable for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting from such Issuing Bank’s gross negligence or willful misconduct as found in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out a final, non-appealable judgment by a court of competent jurisdiction. Without limitation of the same general allegations or circumstancesforegoing, be responsible hereunder each Lender Party agrees to reimburse such Issuing Bank promptly upon demand for the reasonable its ratable share of any costs and expenses (including, without limitation, fees and expenses of more than one such firm of separate counsel) payable by the Borrower under Section 8.04, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or extent that such Issuing Bank is not any Indemnified Party is a party thereto) unless promptly reimbursed for such settlement, compromise, consent or termination includes an express unconditional release of Purchaser costs and expenses by the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceedingBorrower. (c) If for For purposes of this Section 7.05, the Lender Parties’ respective ratable shares of any reason the foregoing indemnity is unavailable (otherwise than pursuant amount shall be determined, at any time, according to the express terms sum of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in the aggregate principal amount of the Advances outstanding at such proportion as is appropriate time and owing to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or respective Lender Parties, (ii) if their respective Pro Rata Shares of the allocation aggregate Available Amount of all Letters of Credit outstanding at such time and (iii) their respective Unused Revolving Credit Commitments at such time; provided by clause (i) is not permitted under applicable lawthat the aggregate principal amount of Swing Line Advances owing to the Swing Line Bank and of Letter of Credit Advances owing to such Issuing Bank shall be considered to be owed to the Revolving Credit Lenders ratably in accordance with their respective Revolving Credit Commitments. The failure of any Lender Party to reimburse any Agent or any Issuing Bank, in such proportion as is appropriate the case may be, promptly upon demand for its ratable share of any amount required to reflect not only the relative benefits received be paid by the Company on Lender Parties to such Agent or such Issuing Bank, as the one hand and Purchaser on case may be, as provided herein shall not relieve any other Lender Party of its obligation hereunder to reimburse such Agent or such Issuing Bank, as the othercase may be, for its ratable share of such amount, but also no Lender Party shall be responsible for the relative fault failure of the Company and Purchaser as well as any other relevant equitable considerationsLender Party to reimburse such Agent or such Issuing Bank, as the case may be, for such other Lender Party’s ratable share of such amount. Notwithstanding Without prejudice to the provisions survival of this Section 13.3any other agreement of any Lender Party hereunder, the aggregate contribution agreement and obligations of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth each Lender Party contained in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) 7.05 shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of principal, interest and all other amounts payable hereunder and under the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartyLoan Documents.

Appears in 5 contracts

Sources: Credit Agreement (Steel Dynamics Inc), Credit Agreement (Steel Dynamics Inc), Credit Agreement (Steel Dynamics Inc)

Indemnification. (a) The Company agrees to indemnify and hold harmless Purchaser, its Affiliates, each of the Investors and each Personofficer, director of the Investors or person, if any, who controls Purchaser, or any of its Affiliates, the Investors within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damagesdamages or liabilities, liabilities and expenses joint or several (includingwhich shall, without limitation and as incurredfor all purposes of this Agreement, reasonable include, but not be limited to, all costs of investigatingdefense and investigation and all attorneys' fees), preparing to which the Investors may become subject, under the Securities Act or defending any otherwise, insofar as such claim or actionlosses, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that liabilities (or actions in respect thereof) arise out of or are determined based upon the breach of any term of this Agreement by final judgment of a court of competent jurisdiction the Company. This indemnity agreement will be in addition to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to liability which indemnity may be sought against the Company under may otherwise have. Each Investor agrees that it will indemnify and hold harmless the Company, and each officer, director of the Company or person, if any, who controls the Company within the meaning of the Securities Act, against any losses, claims, damages or liabilities (which shall, for all purposes of this Agreement, include, but not be limited to, all costs of defense and investigation and all attorneys' fees) to which the Company or any such Indemnified Party shall promptly officer, director or controlling person may become subject under the Securities Act or otherwise, insofar as such losses claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon the breach of any term of this Agreement by the Investor. This indemnity agreement will be in addition to any liability which the Investors or any subsequent assignee may otherwise have. Promptly after receipt by an indemnified party under this Section of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section, notify the Company in writing indemnifying party of the commencement thereof; but the omission so to notify the indemnifying party will not relieve the indemnifying party from any liability which it may have to any indemnified party otherwise than as to the particular item as to which indemnification is then being sought solely pursuant to this Section. In case any such action is brought against any indemnified party, and it notifies the Companyindemnifying party of the commencement thereof, at its optionthe indemnifying party will be entitled to participate in, mayand, to the extent that it may wish, jointly with any other indemnifying party similarly notified, assume the defense thereof, including subject to the employment of counsel reasonably satisfactory provisions herein stated and after notice from the indemnifying party to such Indemnified Party and payment indemnified party of all its election so to assume the defense thereof, the indemnifying party will not be liable to such indemnified party under this Section for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable fees and expensescosts of investigation, unless the indemnifying party shall not pursue the action to its final conclusion. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party indemnified party shall have the right to employ separate counsel in any such action and to participate in the defense thereof, but the fees and expenses of such counsel shall not be at the expense of the indemnifying party if the indemnifying party has assumed the defense of the action with counsel reasonably satisfactory to the indemnified party; provided that if the indemnified party is one of the Investors, the fees and expenses of such Indemnified Party, unless counsel shall be at the expense of the indemnifying party if (i) the Company employment of such counsel has failed to assume been specifically authorized in writing by the defense and employ counsel indemnifying party, or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party both the Investors and the Company, indemnifying party and such Indemnified Party the Investors shall have been advised by such counsel that there may be one or more legal defenses available to it the indemnifying party in conflict with any legal defenses which are different from or additional to those may be available to the Company, Investors (in which case, if such Indemnified Party notifies case the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company indemnifying party shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Partythe Investors, providedit being understood, however, that the Company shall notindemnifying party shall, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder liable only for the reasonable fees and expenses of more than one such separate firm of separate counsel, in addition to any local counselattorneys for the Investor(s), which counsel firm shall be designated in writing by Purchaserthe Investor(s)). The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of No settlement of any action effected with the consent of the Company. In addition, the Company will not, against an indemnified party shall be made without the prior written consent of Purchaserthe indemnified party, settle or compromise or which consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationunreasonably withheld. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 4 contracts

Sources: Series a Preferred Stock Purchase Agreement (Wordcruncher Internet Technologies), Unit Purchase Agreement (Pacific Webworks Inc), Common Stock Purchase Agreement (Waverider Communications Inc)

Indemnification. (a) The Company agrees All parties expressly agree, by doing business with the WBC, to indemnify and hold harmless Purchaserthe WBC, its Affiliatesaffiliated federations and committees, and each Personall officers, if any, who controls Purchaser, or any of its Affiliates, within the meaning members of the Securities Act or the Exchange Act Board of Governors, representatives, attorneys, and agents (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "“WBC Indemnified Party") and collectively, the "Indemnified Parties"), from and thereof against any and all losses, claims, damages, liabilities liabilities, penalties, actions, judgments, suits, costs, expenses, and expenses disbursements (includingincluding the reasonable and actual fees, without limitation charges and as incurreddisbursements of any counsel for any WBC Indemnified Party, reasonable costs incurred by any WBC Indemnified Party or asserted against any WBC Indemnified Party by any third party or by any person arising out of investigatingthe actions of such WBC Indemnified Party or any actual or prospective claim, preparing litigation, investigation or defending any such claim or actionproceeding, whether based on contract, tort or not such Indemnified any other theory, whether brought by a third party or by any person directly, and regardless of whether any WBC Party is a party thereto, provided AND INCLUDING WITHOUT LIMITATION WITH RESPECT TO ANY ACTION OR INACTION ARISING FROM ANY WBC INDEMNIFIED PARTY’S NEGLIGENCE OR STRICT LIABILITY, such that the Company no WBC Indemnified Party shall be held liable for or not be obligated to advance indemnified for any action taken in good faith and not resulting from gross negligence or willful misconduct of such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be WBC Party, as determined by final judgment of a the CAS or any other court of competent jurisdiction by final and non-appealable judgment. In order to attempt to hold the WBC liable for gross negligence or willful misconduct, or under any other theory of liability or damages, the complainant must prove their case by the standards of proof and law applied by the CAS. Under any circumstances, should the WBC be found liable to any party, all parties by doing business with the WBC expressly agree that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which their sole and exclusive monetary remedy that may be incurred by such Indemnified Party recoverable from the WBC is limited to a maximum (but not a minimum) of sanction fees paid to the WBC relating to the last contest that gave rise to their claim against the WBC. All parties including boxers doing business with or otherwise associated with the WBC expressly waive any and all claims for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement claim against the WBC or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such WBC Indemnified Party's gross negligence. In no event shall the WBC be liable to for punitive, willful misconduct consequential, direct, or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreementindirect damages, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereofincluding, but the fees and expenses not limited to, lost profits, loss of such counsel shall be at the expense of such Indemnified Partyearning capacity, unless (i) the Company has failed to assume the defense and employ counsel delay, interest or (ii) the named parties to attorney fees, directly or indirectly resulting from any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one act or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense omission of the CompanyWBC, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Partyits employees, providedofficers, howeveraffiliated Federations, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damagesGovernors, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationagents. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 4 contracts

Sources: Professional Boxer’s Compliance Agreement, Registered Promoter Agreement, Registered Promoter Agreement

Indemnification. (a) The Company (the "Company Indemnifying Party") agrees to indemnify indemnify, defend and hold harmless Purchaser, the Purchaser and its Affiliates, and each Person, if any, (who controls at the option of the Purchaser, or any of its Affiliatesmay include the Company) and their respective officers, within the meaning of the Securities Act or the Exchange Act managers, directors, agents, employees, subsidiaries, partners, members and controlling Persons (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Purchaser Indemnified Party") and collectively" and, together, the "Purchaser Indemnified Parties"), ) to the fullest extent permitted by law from and against any and all losses, claimsClaims, damages, liabilities and expenses (including, without limitation limitation, any Claim by a third party), damages, expenses (including reasonable fees, disbursements and as incurred, reasonable costs other charges of investigating, preparing or defending any such claim or action, whether or not such counsel incurred by the Purchaser Indemnified Party is a party thereto, provided that in any action between the Company Indemnifying Party and the Purchaser Indemnified Party or between the Purchaser Indemnified Party and any third party or otherwise) or other liabilities (collectively, "Losses") resulting from or arising out of (i) any breach of any representation or warranty by the Company or (ii) any breach of any covenant or agreement by the Company, in each case, in either this Agreement or the Investor Rights Agreement; provided that, the Company Indemnifying Party shall not be liable under this Section 7.1 to a Purchaser Indemnified Party to the extent that it is judicially determined that such Losses resulted primarily from the willful misconduct or gross negligence of such Purchaser Indemnified Party. The amount of any payment to any Purchaser Indemnified Party herewith in respect of any Loss shall be increased by the amount of the Purchaser's pro rata share of the diminution in value of the Company relating to the payment of the amount of such Loss to the Purchaser. The Company Indemnifying Party shall not be obligated to advance such costs to pay any Indemnified Party other than Purchaser amounts in respect of indemnification obligations under Section 7.1(a)(i), except those based upon or arising from Section 3.7, (the "Basket Exclusion"), unless it has received from such Indemnified Party an undertaking to repay to and until the aggregate amount of all Losses equals $50,000, after which time the Company Indemnifying Party shall be obligated to pay in full the costs so advanced if it should be determined by final judgment amount of a court all Losses in excess of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith$50,000. (b) If The Purchaser (the "Purchaser Indemnifying Parties" and referred to collectively herein with the Company Indemnifying Parties as the "Indemnifying Parties") agree to indemnify, defend and hold harmless the Company and its officers, managers, directors, agents, employees, subsidiaries, partners, members and controlling Persons (each, a "Company Indemnified Party" and referred to collectively herein with the Purchaser Indemnified Parties as the "Indemnified Parties") to the fullest extent permitted by law from and against any and all Losses resulting from or arising out of any breach of any representation or warranty, covenant or agreement by the Purchaser in this Agreement or the Investor Rights Agreement; provided that, the Purchaser Indemnifying Parties shall not be liable under this Section 7.1 to a Company Indemnified Party to the extent that it is judicially determined that such Losses resulted primarily from the willful misconduct or gross negligence of such Company Indemnified Party. (c) In connection with the obligation of any Indemnifying Party to indemnify for expenses as set forth in this Section 7.1, such Indemnifying Party shall, upon presentation of appropriate invoices containing reasonable detail, reimburse the Indemnified Party for all such expenses (including reasonable fees, disbursements and other charges of counsel incurred by the Indemnified Party in any action shall be brought against an between the Indemnifying Party and the Indemnified Party with respect to which indemnity may be sought against or between the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected third party) as they are incurred by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, ; provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any if an Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If reimbursed under this Article VII for any reason the foregoing indemnity is unavailable (otherwise than pursuant expenses, such reimbursement of expenses shall be refunded to the express terms extent it is finally judicially determined that the Losses in question resulted from the gross negligence, bad faith, or willful misconduct of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnificationparties hereto shall treat, contribution and expense reimbursement obligations set forth in for all Tax purposes, any indemnity payment made pursuant to this Section 13.3 (i) shall be in addition Article VII as an adjustment to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive purchase price paid for the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartyPurchased Stock.

Appears in 4 contracts

Sources: Stock Purchase Agreement (Local Matters Inc.), Stock Purchase Agreement (Local Matters Inc.), Stock Purchase Agreement (Local Matters Inc.)

Indemnification. (a) The Company agrees to shall indemnify and hold harmless PurchaserDCCP and its members, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partnersemployees, agents, employees, officers representatives and Directors of Purchaser, their Affiliates and any such Controlling Person affiliates (each being an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damagesdamages and liabilities to which such Indemnified Party may become subject under any applicable law or under any claim made by any third party or otherwise, liabilities directly or indirectly relating to or arising out of the engagement of DCCP pursuant to, and the performance by DCCP of the services contemplated by, this Agreement, and the Company shall reimburse any Indemnified Party for all costs and expenses (includingincluding reasonable attorneys’ fees and expenses) as they are incurred in connection with the investigation of, without limitation and as incurredpreparation for or defense of any pending or threatened claim, reasonable costs of investigating, preparing or defending any such claim action or actionproceeding arising therefrom, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the hereto. The Company will not be responsible for any claimsliable under this Section 7, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against and an Indemnified Party with respect to which indemnity may be sought against shall reimburse the Company for any related payments made by the Company under this AgreementSection 7, such Indemnified Party shall promptly notify to the Company extent that any loss, claim, damage, liability, cost or expense is determined by a court or arbitral tribunal, in writing and a final judgment from which no further appeal may be taken, to have resulted primarily from the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement gross negligence or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense willful misconduct of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such . No Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on or any of its affiliates for honest mistakes of judgment, or for any action or inaction, taken in good faith in the one hand and Purchaser on the other with respect performance of services under this Agreement to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or extent such action would satisfy the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations standards for indemnification set forth in this Section 13.3 (i) shall 7. DCCP makes no representations or warranties, express or implied, in respect of the services to be in addition to any liability the Company may have to provided by any Indemnified Party at common law acting within the scope of his, her or its employment or authority. In no event will any of the parties hereto be liable to any other party hereto for any indirect, special, incidental or consequential damages, including lost profits or savings, whether or not such damages are foreseeable, or in respect of any liabilities relating to any third party claims (whether based in contract, tort or otherwise; (ii) shall survive other than for claims relating to the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made services which may be provided by or on behalf of Purchaser or any other Indemnified PartyDCCP hereunder.

Appears in 4 contracts

Sources: Professional Services Agreement (Caliburn International Corp), Professional Services Agreement (Caliburn International Corp), Professional Services Agreement (Caliburn International Corp)

Indemnification. (a) The Company agrees to indemnify and hold harmless Purchaserthe Subscriber, its Affiliatesaffiliates and their respective officers, directors, employees, agents and each Personcontrolling persons (collectively, if anythe “Indemnified Parties”) from and against , who controls Purchaserany and all loss, liability, damage or deficiency suffered or incurred by any Indemnified Party by reason of any misrepresentation or breach of warranty by the Company or, after any applicable notice and/or cure periods, nonfulfillment of any covenant or agreement to be performed or complied with by the Company under this Agreement, the Transaction Documents; and will promptly reimburse the Indemnified Parties for all expenses (including reasonable fees and expenses of legal counsel) as incurred in connection with the investigation of, preparation for or defense of any pending or threatened claim related to or arising in any manner out of any of the foregoing, or any of its Affiliates, within the meaning of the Securities Act action or the Exchange Act proceeding arising therefrom (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"“Proceedings”), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a formal party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faithProceeding. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company reason (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any other than a final non-appealable judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not finding any Indemnified Party is a party theretoliable for losses, claims, damages, liabilities or expenses for its gross negligence or willful misconduct) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such an Indemnified Party as a result of such claimsloss, liabilitiesclaim, lossesdamage, damages, liability or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, expense in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser the Advisor on the other, but also the relative fault of by the Company and Purchaser the Indemnified Party, as well as any other relevant equitable considerations. (c) Each Subscriber agrees to severally and not jointly indemnify, hold harmless, reimburse and defend the Company, its Subsidiaries and each of its officers, directors, agents, Affiliates, control persons and principal shareholders, against any claim, cost, expense, liability, obligation, loss or damage (including reasonable legal fees) of any nature, incurred by or imposed upon the Company, its Subsidiary or any such person which results, arises out of or is based upon (i) any material misrepresentation by the Subscriber or breach of any warranty by the Subscriber in this Agreement or in any Exhibits or Schedules attached hereto or (ii) after any applicable notice and/or cure periods, any breach or default in performance by the Subscriber of any covenant or undertaking to be performed by the Subscriber hereunder, or any other Transaction Documents entered into by the Company and Subscriber relating hereto. Notwithstanding the provisions foregoing, in no event shall the liability of this Section 13.3, the Subscriber hereunder be greater than the aggregate contribution of all Indemnified Parties shall not exceed subscription amount paid for the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company Securities as set forth on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationsignature page hereto. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 4 contracts

Sources: Subscription Agreement (BillMyParents, Inc.), Subscription Agreement (Socialwise, Inc. (Formerly Known as IdeaEdge, Inc)), Subscription Agreement (Socialwise, Inc. (Formerly Known as IdeaEdge, Inc))

Indemnification. (a) The Company agrees to indemnify Lessee shall defend, indemnify, and hold Lessor harmless Purchaser, its Affiliatesfrom, and each Personreimburse Lessor for, if anyany loss, who controls Purchasercost, expense, liability, or damage (including without limitation reasonable attorney’s fees and costs with a reasonable estimate of the allocable cost of legal counsel and staff in connection with or in any way related to, any breach or default in the performance of any obligation to be performed by Lessee under the terms of this Agreement, or any intentional misconduct or negligence of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out ofLessee, or is in connection with any activities contemplated by officer, agent, employee, guest, or invitee of Lessee or of any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claimssublessee of Lessee, liabilities, losses, damages or expenses that are determined by final judgment regardless of a court of competent jurisdiction to result from whether such Indemnified Party's gross negligence, willful intentional misconduct or bad faithnegligence was active or passive. (b) If Lessor shall defend, indemnify, and hold Lessee harmless from, and reimburse Lessee for, any action loss, costs, expense, liability, or damage (including without limitation reasonable attorney’s fees and costs with a reasonable estimate of the allocable cost of legal counsel and staff, in connection with or in any way related to any breach or default in the performance of any obligation to be performed by Lessor under the terms of this Agreement during the term hereof or any intentional misconduct or negligence of Lessor, or any officer, agent, employee, guest, or invitee of Lessor, regardless of whether such intentional misconduct or negligence was active or passive. (c) In the event of the occurrence of any event which a party asserts is an indemnifiable event pursuant to this paragraph, such party shall be brought against an Indemnified Party notify the other party promptly and, if such event involves the claim of any third person, the notified party shall have sole control over, and shall assume all expense with respect to, the defense, settlement, adjustment, or compromise of any claim as to which indemnity may be sought against this paragraph requires it to indemnify the Company under this Agreementother, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless provided that (i) the Company has failed to assume the defense and other may, if it so desires, employ counsel or at its own expense to assist in the handling of such claim and (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and indemnifying party shall obtain the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense prior written approval of the Companyother party, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against , before entering into any loss or liability by reason of settlement of any action effected with the consent of the Company. In additionsettlement, the Company will notadjustment, without the prior written consent of Purchaser, settle or compromise of such claim or consent ceasing to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, defend against such claim, suit if pursuant thereto or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, thereof there would be imposed injunctive or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on other similar relief against the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerationsparty. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement All indemnification obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) hereunder shall survive the expiration or earlier termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartyAgreement.

Appears in 4 contracts

Sources: Hospital Lease Purchase Agreement, Hospital Lease Purchase Agreement, Hospital Lease Purchase Agreement

Indemnification. 25.1 Except as otherwise provided herein, each Party shall be responsible only for service(s) and facility(ies) which are provided by that Party, its authorized agents, subcontractors, or others retained by such Parties and neither Party shall bear any responsibility for the service(s) and facility(ies) provided by the other Party, its agents, subcontractors, or others retained by such Parties. 25.2 Except as otherwise provided herein, and to the extent not prohibited by law and not otherwise controlled by tariff, each Party (athe “Indemnifying Party”) The Company agrees to shall release, defend and indemnify the other Party (the “Indemnified Party”) and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is harmless against any Loss to a party thereto, provided that Third Party arising out of the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costsnegligence or willful misconduct (“Fault”) which may be incurred by such Indemnified Party Indemnifying Party, its agents, its End Users, contractors, or others retained by such Parties, in connection with any investigative, administrative the Indemnifying Party’s provision of services or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company functions under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that (i) with respect to employees or agents of the Company shall notIndemnifying Party, in connection such Fault occurs while performing within the scope of their employment, (ii) with any one respect to subcontractors of the Indemnifying Party, such action or proceeding or separate but substantially similar or related actions or proceedings Fault occurs in the same jurisdiction course of performing duties of the subcontractor under its subcontract with the Indemnifying Party, and (iii) with respect to the Fault of employees or agents of such subcontractor, such Fault occurs while performing within the scope of their employment by the subcontractor with respect to such duties of the subcontractor under the subcontract. 25.3 In the case of any Loss alleged or made by an End User of either Party, the Party whose End User alleged or made such Loss (“Indemnifying Party”) shall defend and indemnify the other Party (“Indemnified Party”) against any and all such Claims or Losses by its End Users regardless of whether the underlying service or product was provided by, or network element was provisioned by, the Indemnified Party, unless the loss was caused by the gross negligence or intentional misconduct of the Indemnified Party. 25.4 Each Party shall be released, indemnified, defended and held harmless by the other Party (“Indemnifying Party”) against any Loss arising from the Indemnifying Party’s use of services or elements provided under this Agreement involving: 25.4.1 Any Claim or Loss arising from such Indemnifying Party’s use of products and services offered under this Agreement, involving any Claim for libel, slander, invasion of privacy, or infringement of Intellectual Property rights arising from the Indemnifying Party’s or its End User’s use. 25.4.2 The foregoing includes any Claims or Losses arising from disclosure of any End User-specific information associated with either the originating or terminating numbers used to provision products or services provided hereunder and all other Claims arising out of any act or omission of the same general allegations End User in the course of using any products or circumstancesservices provided pursuant to this Agreement. 25.4.3 The foregoing includes any Losses arising from Claims for actual or alleged infringement of any Intellectual Property right of a Third Party to the extent that such Loss arises from an Indemnifying Party’s or an Indemnifying Party’s End User’s use of products or services provided under this Agreement; provided, be responsible hereunder for however, that an Indemnifying Party’s obligation to defend and indemnify the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company Indemnified Party shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding.apply: (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to 25.4.3.1 where an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid its End User modifies products or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation services; provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.and

Appears in 4 contracts

Sources: Traffic Termination Agreement, Traffic Termination Agreement, Traffic Termination Agreement

Indemnification. (a) The Company agrees to will indemnify and hold harmless Purchaser, its Affiliates, the Management Provider and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Management Provider Person (each such person, an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities liabilities, costs and expenses, whether joint or several (the “Liabilities”), related to, arising out of or in connection with this Agreement or the Services contemplated by this Agreement or the engagement of the Management Provider pursuant to, and the performance by the Management Provider of the Services contemplated by, this Agreement, whether or not pending or threatened, whether or not an Indemnified Party is a party, whether or not resulting in any liability and whether or not such action, claim, suit, investigation or proceeding is initiated or brought by or on behalf of the Company. The Company will reimburse any Indemnified Party for all reasonable costs and expenses (including, without limitation including attorneys’ fees and expenses) as incurred, reasonable costs of they are incurred in connection with investigating, preparing preparing, pursuing, defending or defending assisting in the defense of any such claim action, claim, suit, investigation or actionproceeding for which the Indemnified Party would be entitled to indemnification under the terms of the previous sentence, or any action or proceeding arising therefrom, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the . The Company will not be responsible for liable under the foregoing indemnification provision with respect to any claims, liabilities, losses, damages or expenses particular Liability of an Indemnified Party solely to the extent that are such is determined by a court, in a final judgment from which no further appeal may be taken, to have resulted primarily from the gross negligence or willful misconduct of a court of competent jurisdiction to result from such Indemnified Party's . The attorneys’ fees and other expenses of an Indemnified Party shall be paid by the Company as they are incurred upon receipt of an agreement by or on behalf of the Indemnified Party to repay such amounts if it is finally judicially determined that the Liabilities in question resulted primarily from the gross negligence, negligence or willful misconduct or bad faithof such Indemnified Party. (b) If The Company acknowledges and agrees that the Indemnified Parties have certain rights to indemnification and/or insurance provided by the Management Provider and certain of its affiliates and that such additional rights to indemnification and/or insurance are intended to be secondary to the primary obligation of the Company to indemnify the Indemnified Parties hereunder. The Company’s obligations to provide indemnification hereunder shall not be limited in any action shall be brought against an Indemnified Party with respect to which indemnity manner by the availability of such additional indemnification and/or insurance that may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 4 contracts

Sources: Management Services Agreement (Select Energy Services, Inc.), Management Services Agreement (Select Energy Services, Inc.), Management Services Agreement (Select Energy Services, Inc.)

Indemnification. (a) The Company Transferor agrees to indemnify indemnify, defend and hold harmless Purchaserthe Retention Holder, its Affiliatesthe Issuer, the Trustee and each Person, if any, who controls Purchaser, or any of its Affiliatestheir respective managers, within the meaning of the Securities Act or the Exchange Act (eachmembers, a "Controlling Person")officers, and the respective partners, agentsdirectors, employees, officers agents and Directors professional advisors (any one of Purchaser, their Affiliates and any such Controlling Person (each which is an "Indemnified Party") and collectively, the "Indemnified Parties"), harmless from and against any and all claims, losses, claimspenalties, damagesfines, liabilities forfeitures, reasonable legal fees and related costs, judgments and any other reasonable costs, fees and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that any indemnification for damages is limited to actual damages, not consequential, special or punitive damages) that such Person may sustain as a result of the Company shall not be obligated failure of the Transferor to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay perform its duties in compliance in all material respects with the terms of this Agreement, except to the Company extent arising from the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If fraud by the Person claiming indemnification; provided that, for the avoidance of doubt, the obligations of the Transferor set forth in Section 7.2 shall constitute the sole recourse to the Transferor for any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against breach of the Company under this Agreement, such representations or warranties set forth in Section 3.2. An Indemnified Party shall promptly notify the Company in writing Transferor if a claim is made by a third party with respect to this Agreement, and the Company, at its option, may, Transferor shall assume (with the defense thereof, including consent of the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (isuch consent not to be unreasonably withheld) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without claim and pay all expenses in connection therewith, including reasonable counsel fees, and promptly pay, discharge and satisfy any judgment or decree which may be entered against the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding The parties agree that the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties 6.1 shall not exceed the amount of interest and fees actually received by Purchaser pursuant be interpreted to this Agreement. It is hereby further agreed that the relative benefits provide recourse to the Company on Transferor against loss by reason of the one hand and Purchaser on the other bankruptcy, insolvency or lack of creditworthiness of an Obligor or issuer with respect to the transactions contemplated hereby shall be determined by reference toa Collateral Obligation, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access Transferor does not hereby agree to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within maintain the meaning of Section 11(f) solvency of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law Retention Holder or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) Issuer. The Transferor shall remain operative and in full force and effect regardless of have no liability for making indemnification hereunder to the extent any investigation made by such indemnification constitutes recourse for uncollectible or on behalf of Purchaser or uncollected amounts payable under any other Indemnified PartyCollateral Obligation.

Appears in 4 contracts

Sources: Master Loan Sale Agreement, Master Loan Sale Agreement (NewStar Financial, Inc.), Master Loan Sale Agreement (NewStar Financial, Inc.)

Indemnification. Each Party (athe “Indemnitor”) The Company agrees to shall release, defend, indemnify and hold harmless Purchaserthe other party, its Affiliatesaffiliates, its contractors, and each Persontheir respective members, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agentsdirectors, officers, shareholders, managers, employees, officers agents and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), representatives from and against any and all losses, damages, fines, liens, levies, penalties, claims, damagesdemands, liabilities causes of action, suits, legal or administrative proceedings, orders, governmental actions and judgments of every kind and character, and any and all costs and expenses (including, without limitation and as incurredlimitation, reasonable costs of investigatingattorneys’ fees, preparing or defending any such claim or actionreasonable expert witness fees, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a and court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) related thereto (collectively, “Claims”) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises arise out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligenceor relate in any way, willful misconduct directly or bad faith. indirectly, to (a) a breach of this Agreement by the Indemnitor, or (b) If the acts or omissions hereunder of the Indemnitor or its affiliates, contractors, and their respective members, partners, directors, officers, shareholders, managers, employees, agents and representatives. Producer shall specifically defend, indemnify and hold Gavilon (and its respective Indemnitee Group) harmless from and against any action and all Claims asserted by third parties that arise from the condition or quality of the Product sold hereunder, except to the extent such Claims are the result of the acts or omissions of Gavilon, its agents or any third party following Delivery hereunder. The Party claiming indemnification shall be brought against an Indemnified Party with respect give prompt written notice to the Indemnitor of any matter for which indemnity the Indemnitor may be sought against the Company become liable under this Agreement, such Indemnified Party provision. Such notice shall promptly notify contain full details of the Company matter in writing order to provide the Indemnitor with sufficient information to assess its potential liability and to undertake defense of the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expensesClaim. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified indemnified Party shall have the right at all times to employ separate counsel in such action and participate in the defense thereof, but the fees preparation for and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement conducting of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees hearing, trial or other proceeding related to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3Section, as well as the aggregate contribution of right to appear on its own behalf at any such hearing, trial or other proceeding. Any such participation or appearance by the indemnified Party shall be at its sole cost and expense. The indemnified Party shall cooperate in all Indemnified Parties reasonable respects with the Indemnitor and its counsel in defending any Claims and shall not exceed take any action that is reasonably likely to be detrimental to such defense. The Indemnitor shall obtain written approval from the amount of interest and fees actually received by Purchaser indemnified Party * Portion omitted pursuant to this Agreementrequest for confidential treatment filed separately with the Securities and Exchange Commission. It is hereby further agreed prior to any settlement that the relative benefits to the Company might impose obligations or restrictions on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified indemnified Party.

Appears in 4 contracts

Sources: Distiller’s Grain Off Take Agreement (Lincolnway Energy, LLC), Distiller’s Grain Off Take Agreement (Lincolnway Energy, LLC), Distiller’s Grain Off Take Agreement (Lincolnway Energy, LLC)

Indemnification. (a) The Company agrees to indemnify hereby indemnifies the Bank and hold holds it harmless Purchaser, its Affiliatesagainst, and each Personshall reimburse the Bank for, if anyany loss, who controls Purchaserdamage or expense (including attorneys’ reasonable fees and expenses, or any of its Affiliatescourt costs and other expenses) including, within the meaning of the Securities Act or the Exchange Act but not limited to, (eachi) unpaid charges, a "Controlling Person")fees, and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that Returned Items for which the Company and/or the Secured Party originally received credit or remittance by the Bank, and (ii) any loss, damage or expense the Bank shall not incur as a result of (A) entering into or acting pursuant to this Agreement, (B) honoring and following any instruction the Bank may receive from (or shall believe in good faith to be obligated to advance such costs to any Indemnified from) the Secured Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party and (C) upon implementation of the Notice, not honoring or following any instruction it shall promptly notify receive from (or shall believe in good faith to be from) the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under accordance with this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by PurchaserAgreement. The Company shall not be liable responsible for any settlement loss, damage, or expense that a court having jurisdiction shall have determined had been caused by the Bank’s gross negligence or willful misconduct in its performance of its obligations under this Agreement. (b) Without limiting in any such action effected without way the written consent Secured Party’s obligation to pay or reimburse the Bank as otherwise specified in this Agreement, the Secured Party hereby indemnifies the Bank and holds it harmless against any loss, damage or expense (including attorneys’ reasonable fees and expenses, court costs and other expenses) which the Bank shall incur as a result of honoring or following any instruction (including the Company Notice) it shall receive from (which or shall believe in good faith to be from) the Secured Party under this Agreement. The Secured Party shall not be unreasonably withheld) and responsible for any loss, damage, or expense that a court having jurisdiction shall have determined had been caused by the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss Bank’s gross negligence or liability by reason willful misconduct in its performance of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceedingits obligations under this Agreement. (c) If No party hereto shall be liable to any other party under this Agreement for any reason lost profits or special, indirect, exemplary, consequential or punitive damages, even if such party shall have been advised of the foregoing indemnity is unavailable (otherwise than pursuant to the express terms possibility of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 4 contracts

Sources: Credit Agreement (New Century Transportation, Inc.), Credit Agreement (Osi Systems Inc), Credit Agreement (Osi Systems Inc)

Indemnification. (a) The Company agrees to 11.1 Retailer, at its own cost and expense, shall defend, indemnify and hold harmless Purchaser, its Affiliates, GSI and each Person, if any, who controls Purchaser, or any of its Affiliatesofficers, within the meaning of the Securities Act directors, employees or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), agents from and against any and all lossesdamages, claims, damagesexpenses, liabilities and expenses other costs (including, without limitation including reasonable attorneys fees and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigativearising as a consequence of GSI providing services pursuant to this Agreement a) from or related to a claim that GSI infringes a third party copyright, administrative trademark or judicial proceeding brought or threatened that relates trade secret relating to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement Retailer's tradename or any other services rendered in connection herewithname set forth on Schedule 1 to this Agreement; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result b) from such Indemnified PartyRetailer's gross negligence, willful misconduct wilful or bad faithintentional misconduct. 11.2 GSI, at its own cost and expense, shall defend, indemnify and hold harmless Retailer and any of its officers, directors, employees or agents from and against all damages, expenses, liabilities and other costs (bincluding reasonable attorneys fees and court costs) If arising a) from a claim made by any action shall be brought against an Indemnified Party with respect consumer that is related in any way to which indemnity may be sought against the Company under Retailer's Web Site or GSI's services to Retailer provided pursuant to this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall but excluding a claim for which GSI would have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnityParagraph 11.1 above, or b) to an Indemnified Party from GSI's gross negligence, wilful or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party intentional misconduct and arising as a result consequence of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser GSI providing services pursuant to this Agreement. It is hereby further agreed that the relative benefits . 11.3 Retailer shall have sole control of any defense of any claim made pursuant to the Company on the one hand and Purchaser on Section 11.1 above, but GSI shall cooperate with Retailer in providing such defense. 11.4 GSI shall have sole control of any defense of any claim made pursuant to Section 11.2 above, but Retailer shall cooperate with Retailer in providing such defense. 11.5 Any party seeking indemnification shall notify the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent party as soon as possible after such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) party seeking indemnification becomes aware of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationclaim. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 4 contracts

Sources: E Commerce Agreement (Global Sports Inc), E Commerce Agreement (Global Sports Inc), E Commerce Agreement (Global Sports Inc)

Indemnification. (a) The Company agrees To the fullest extent permitted by law, the Fund shall, subject to Section 8(c) of this Agreement, indemnify the Indemnified Parties against, and hold them harmless Purchaserfrom, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities liabilities, costs and expenses (includingarising by reason of being or having been Adviser to the Fund, without limitation and as incurredor the past or present performance of services to the Fund in accordance with this Agreement by the Indemnified Party, reasonable costs of investigatingexcept to the extent that the loss, preparing claim, damage, liability, cost or defending expense has been finally determined in a judicial decision on the merits from which no further appeal may be taken in any such claim or action, suit, investigation or other proceeding to have been incurred or suffered by the Indemnified Party by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of the Indemnified Party’s office. These losses, claims, damages, liabilities, costs and expenses include, but are not limited to, amounts paid in satisfaction of judgments, in compromise, or as fines or penalties, and counsel fees and expenses, incurred in connection with the defense or disposition of any action, suit, investigation or other proceeding, whether civil or not criminal, before any judicial, arbitral, administrative or legislative body, in which the Indemnified Party may be or may have been involved as a party or otherwise, or with which such Indemnified Party is a party theretomay be or may have been threatened, while in office or thereafter. The rights of indemnification provided that the Company shall under this Section 8 are not to be obligated construed so as to advance such costs to any provide for indemnification of an Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay for any liability (including liability under U.S. federal securities laws which, under certain circumstances, impose liability even on persons that act in good faith) to the Company extent (but only to the costs extent) that indemnification would be in violation of applicable law, but shall be construed so advanced if it should be determined by final judgment as to effectuate the applicable provisions of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faiththis Section 8. (b) If Expenses, including counsel fees and expenses, incurred by any action shall be brought against an Indemnified Party with respect to which indemnity (but excluding amounts paid in satisfaction of judgments, in compromise, or as fines or penalties) may be sought against paid from time to time by the Company Fund in advance of the final disposition of any action, suit, investigation or other proceeding upon receipt of an undertaking by or on behalf of the Indemnified Party to repay to the Fund amounts paid if a determination is made that indemnification of the expenses is not authorized under Section 8(a) of this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless long as (i) the Company Indemnified Party provides security for the undertaking; (ii) the Fund is insured by or on behalf of the Indemnified Party against losses arising by reason of the Indemnified Party’s failure to fulfill his, her or its undertaking, or (iii) a quorum of the Independent Directors (excluding any director who is or has failed been a party to assume any other action, suit, investigation or other proceeding involving claims similar to those involved in the defense action, suit, investigation or proceeding giving rise to a claim for advancement of expenses under this Agreement), or independent legal counsel, in a written opinion, determines, based on a review of facts readily available to the Fund at the time the advance is proposed to be made, that there is reason to believe that the Indemnified Party will ultimately be found to be entitled to indemnification. (c) As to the disposition of any action, suit, investigation or other proceeding (whether by a compromise payment, pursuant to a consent decree or otherwise) without an adjudication or a decision on the merits by a court, or by any other body before which the proceeding has been brought, that an Indemnified Party is liable to the Fund or its Stockholders by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of the Indemnified Party’s office, indemnification shall be provided in accordance with Section 8(a) of this Agreement if: (i) approved as in the best interests of the Fund by a majority of the Independent Directors (excluding any Director who is or has been a party to any other action, suit, investigation or other proceeding involving claims similar to those involved in the action, suit, investigation or proceeding giving rise to a claim for indemnification under this Agreement) upon a determination based upon a review of readily available facts (as opposed to a full trial-type inquiry) that the Indemnified Party acted in good faith and employ counsel in the reasonable belief that the actions were in the best interests of the Fund and that the Indemnified Party is not liable to the Fund or its Stockholders by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of the Indemnified Party’s office or (ii) the named parties Board of Directors secures a written opinion of independent legal counsel based upon a review of readily available facts (as opposed to any such action (including any impleaded partiesa full trial-type inquiry) include such to the effect that indemnification would not protect the Indemnified Party and against any liability to the Company, and such Fund or its Stockholders to which the Indemnified Party shall have been advised by counsel that there may would otherwise be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability subject by reason of settlement of any action effected with the consent willful misfeasance, bad faith, gross negligence, or reckless disregard of the Company. In addition, duties involved in the Company will not, without conduct of the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation’s office. (d) The indemnificationAny indemnification or advancement of expenses made in accordance with this Section 8 shall not prevent the recovery from any Indemnified Party of any amount if the Indemnified Party subsequently is determined in a final judicial decision on the merits in any action, contribution suit, investigation or proceeding involving the liability or expense that gave rise to the indemnification or advancement of expenses to be liable to the Fund or its Stockholders by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of the Indemnified Party’s office. In any suit brought by an Indemnified Party to enforce a right to indemnification under this Section 8 it shall be a defense that, and expense reimbursement obligations set forth in any suit in the name of the Fund to recover any indemnification or advancement of expenses made in accordance with this Section 8 the Fund shall be entitled to recover the expenses upon a final adjudication from which no further right of appeal may be taken that, the Indemnified Party has not met the applicable standard of conduct described in this Section 13.3 (i) 8. In any suit brought to enforce a right to indemnification or to recover any indemnification or advancement of expenses made in accordance with this Section 8, the burden of proving that the Indemnified Party is not entitled to be indemnified, or to any indemnification or advancement of expenses, under this Section 8 shall be in addition to on the Fund (or on any liability the Company may have to any Indemnified Party at common law Stockholder acting derivatively or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or otherwise on behalf of Purchaser the Fund or its Stockholders). (e) An Indemnified Party may not satisfy any right of indemnification or advancement of expenses granted in this Section 8 or to which he, she or it may otherwise be entitled except out of the assets of the Fund, and no Stockholder shall be personally liable with respect to any such claim for indemnification or advancement of expenses. (f) The rights of indemnification provided in this Section 8 shall not be exclusive of or affect any other rights to which any person may be entitled by contract or otherwise under law. Nothing contained in this Section 8 shall affect the power of the Fund to purchase and maintain liability insurance on behalf of the Adviser or any other Indemnified Party.

Appears in 4 contracts

Sources: Investment Advisory Agreement (Brookfield Infrastructure Income Fund Inc.), Investment Advisory Agreement (Brookfield Infrastructure Income Fund Inc.), Investment Advisory Agreement (KKR Real Estate Select Trust Inc.)

Indemnification. (a) The Company hereby agrees to indemnify indemnify, defend and hold harmless PurchaserConsultant, its Affiliatesofficers, and each Persondirectors, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agentsprincipals, employees, officers affiliates, and Directors of Purchasershareholders, and their Affiliates successors and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), assigns from and against any and all losses, claims, damages, liabilities losses, liability, deficiencies, actions, suits, proceedings, costs or legal expenses (collectively the "Losses") arising out of or resulting from: (i) any breach of a representation, or warranty by the Company contained in this Agreement; or (ii) any activities or services performed hereunder by Consultant, unless such Losses were the result of the intentional misconduct or gross misconduct of Consultant; or (iii) any and all costs and expenses (includingincluding reasonable attorneys' and paralegals' fees) related to the foregoing, without limitation and as incurred, reasonable costs more fully described below. If Consultant receives written notice of investigating, preparing or defending the commencement of any such claim or legal action, whether suit or not such Indemnified Party is a party thereto, provided that proceeding with respect to which the Company shall not is or may be obligated to advance provide indemnification pursuant to this Section 5, Consultant shall, within thirty (30) days of the receipt of such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to written notice, give the Company the costs so advanced if it should be determined written notice thereof (a "Claim Notice"). Failure to give such Claim Notice within such thirty (30) day period shall not constitute a waiver by final judgment Consultant of a court of competent jurisdiction that such Indemnified Party was not entitled its right to indemnification indemnity hereunder with respect to such costs) which may be incurred action, suit or proceeding. Upon receipt by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result Claim Notice from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party Consultant with respect to any claim for indemnification which indemnity is based upon a claim made by a third party ("Third Party Claim"), Consultant may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereofof the Third Party Claim with counsel of its own choosing, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expensesas described below. The failure to so notify the Company shall not affect any obligations cooperate in the Company defense of the Third Party Claim and shall furnish such records, information and testimony and attend all such conferences, discovery proceedings, hearings, trial and appeals as may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failurebe reasonably required in connection therewith. Such Indemnified Party Consultant shall have the right to employ separate its own counsel in any such action and participate in the defense thereofaction, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, Consultant unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right promptly employed counsel to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall notThird Party Claim, in connection with any one which event such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated borne solely by Purchaserthe Company. The Company shall not be liable satisfy or settle any Third Party Claim for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) indemnification has been sought and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will notis available hereunder, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) Consultant. If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute fail with reasonable promptness either to defend such Third Party Claim or to satisfy or settle the amount paid same, Consultant may defend, satisfy or payable by such Indemnified settle the Third Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect Claim at the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault expense of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties Company shall not exceed pay to Consultant the amount of interest and fees actually received by Purchaser pursuant to this Agreementany such Loss within ten (10) days after written demand therefor. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) indemnification provisions hereunder shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartyAgreement.

Appears in 3 contracts

Sources: Consulting Agreement (Daltex Medical Sciences Inc), Consulting Agreement (Ii Group Inc), Consulting Agreement (Ii Group Inc)

Indemnification. Subject to the provisions of this Section 4.4, the Company will indemnify and hold the Purchasers, the Placement Agent and their directors, officers, shareholders, partners, employees and agents (each, a “Purchaser Party”) harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in settlements, court costs and reasonable attorneys’ fees and costs of investigation that any such Purchaser Party may suffer or incur as a result of or relating to (a) The any breach of any of the representations, warranties, covenants or agreements made by the Company agrees to indemnify and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls in this Agreement or in the other Transaction Documents or (b) any action instituted against a Purchaser, or any of its them or their respective Affiliates, within the meaning by any stockholder of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors Company who is not an Affiliate of such Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to any of the transactions contemplated by the Transaction Documents (unless such costs) which action is based upon a breach of such Purchaser’s representation, warranties or covenants under the Transaction Documents or any agreements or understandings such Purchaser may be incurred have with any such stockholder or any violations by the Purchaser of state or federal securities laws or any conduct by such Indemnified Party in connection with any investigativePurchaser which constitutes fraud, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) malfeasance). If any action shall be brought against an Indemnified any Purchaser Party with in respect to of which indemnity may be sought against the Company under pursuant to this Agreement, such Indemnified Purchaser Party shall promptly notify the Company in writing writing, and the Company, at its option, may, Company shall have the right to assume the defense thereof, including the employment thereof with counsel of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expensesits own choosing. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Any Purchaser Party shall have the right to employ separate counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless Purchaser Party except to the extent that (i) the employment thereof has been specifically authorized by the Company in writing, (ii) the Company has failed after a reasonable period of time to assume the such defense and to employ counsel or (iiiii) the named parties to any in such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Companyis, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense reasonable opinion of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to a material conflict on any local counsel, which counsel shall be designated by Purchasermaterial issue between the position of the Company and the position of such Purchaser Party. The Company shall will not be liable to any Purchaser Party under this Agreement (i) for any settlement of any such action by an Purchaser Party effected without the Company’s prior written consent of the Company (consent, which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss withheld or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement delayed; or (ii) if to the allocation provided by clause (i) extent, but only to the extent, that a loss, claim, damage or liability is not permitted under applicable lawattributable to any Purchaser Party’s breach of any of the representations, in such proportion as is appropriate to reflect not only the relative benefits received warranties, covenants or agreements made by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth Purchasers in this Section 13.3 (i) shall be Agreement or in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartyDocuments.

Appears in 3 contracts

Sources: Convertible Note Purchase Agreement (Synova Healthcare Group Inc), Convertible Note Purchase Agreement (Synova Healthcare Group Inc), Convertible Note Purchase Agreement (Synova Healthcare Group Inc)

Indemnification. (a) The Company ‌ Tenant agrees to protect, defend, reimburse, indemnify and hold the County Parties free and harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), at all times from and against any and all claims, liability, expenses, losses, claimscosts, damagesfines and damages (including attorney fees at trial and appellate levels) and causes of action of every kind and character (collectively referred to herein as “Damages”) against, liabilities and expenses (or in which County is named or joined, arising out of this Lease or use or occupancy of the Premises by any Tenant Party, including, without limitation but not limited to those arising by reason of any damage to property or the environment, or bodily injury (including death) incurred or sustained by any party hereto, or of any party acquiring any interest hereunder, and as incurredany third or other party whomsoever, reasonable costs or any governmental agency, arising out of investigating, preparing or defending any such claim incident to or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigativea Tenant Party’s acts, administrative omissions or judicial proceeding brought or threatened that relates to or arises out ofoperations hereunder, or is in connection with any activities contemplated by any Transaction Agreement the performance, non-performance or purported performance of a Tenant Party or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense breach of the Company, the Company shall not have the right to assume the defense terms of such action or proceeding on behalf of such Indemnified Party, this Lease; provided, however, Tenant shall not be responsible to a County Party for Damages that are solely attributable to the Company shall notnegligence or willful misconduct of such County Party. Tenant further agrees to hold harmless and indemnify the County Parties for any fines, citations, court judgments, insurance claims, restoration costs or other liability resulting from or in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction way arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition due to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent a Tenant Party’s activities or operations or use of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (Premises whether or not Tenant was negligent or even knowledgeable of any Indemnified Party is events precipitating a party thereto) unless such settlement, compromise, consent claim or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability judgment arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claimsany situation involving the activities. This indemnification shall be extended to include all deliverers, liabilitiessuppliers, losses, damagesfurnishers of material, or expenses anyone acting for, on behalf of or at the request of Tenant. Tenant recognizes the broad nature of this indemnification and hold-harmless provision, and acknowledges that County would not enter into this Lease without the inclusion of such clause, and voluntarily makes this covenant and expressly acknowledges the receipt of Ten Dollars (i$10.00) in and such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand other good and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation valuable consideration provided by clause (i) is not permitted under applicable law, County in such proportion as is appropriate to reflect not only support of this indemnification in accordance with the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault laws of the Company and Purchaser as well as any other relevant equitable considerationsState of Florida. Notwithstanding the provisions of The obligations arising under this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) Article shall survive the expiration or termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartyLease.

Appears in 3 contracts

Sources: Development Site Lease Agreement, Development Site Lease Agreement, Hotel Development Site Lease Agreement

Indemnification. (a) The Company agrees You agree to indemnify defend, indemnify, and hold harmless Purchaserthe Company, its Affiliatesadvertisers, licensors, subsidiaries and other affiliated companies, and each Persontheir employees, if anycontractors, who controls Purchaserofficers, agents and directors from all liabilities, claims, and expenses, including attorney’s fees, that arise from your use of this site, or any services, information or products from this site, or any violation of its Affiliatesthis Agreement. The Company reserves the right, within at it own expense, to assume the meaning exclusive defense and control of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled matter otherwise subject to indemnification hereunder by you, in which event you shall cooperate with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expensesasserting any available defenses. The failure to so notify the Company shall not affect any obligations the LEGAL COMPLIANCE Company may have to such Indemnified Party under suspend or terminate this Agreement or otherwise unless User’s use immediately upon receipt of any notice which alleges that User has used this site for any purpose that violates any local, state, federal or law of other nations, including but not limited to the posting of information that may violate third party rights, that may defame a third party, that may be obscene or pornographic, that may harass or assault others, that may violate hacking or other criminal regulations, etc. of its agents, officers, directors, contractors or employees. In such event, Company is materially adversely affected may disclose the User’s identity and contact information, if requested by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses a government or law enforcement body or as a result of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel a subpoena or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Companyother legal action, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for damages or results thereof and User agrees not to bring any settlement action or claim against Company for such disclosure. CHOICE OF LAW AND FORUM This site (excluding third party linked sites) is controlled by the Company from its offices within the Kingdom of the Netherlands. It can be access from other countries around the world to the extent permitted by site. As each of these places has laws that may differ from the Kingdom of the Netherlands, by accessing this site, both you and the Company agree that the statues and laws of the Kingdom of the Netherlands shall apply to any actions or claims arising out of or in relation to this Agreement or your use of this site, without regard to conflicts of laws principles thereof. You and the Company also agree and hereby submit to the filing of any such action effected without claim only in the written consent exclusive personal jurisdiction and venue of the Kingdom of the Netherlands and any legal proceedings shall be conducted in the Dutch language. The Company (which makes no representation that materials on this site are appropriate or available for use in other locations, and accessing them from territories where their contents are illegal is prohibited. This Agreement shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received governed by the Company United Nations Convention on Contracts for the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable lawSale of Goods. CLAIMS OR REPRESENTATIONS EVERY EFFORT HAS BEEN MADE TO ACCURATELY REPRESENT THIS PRODUCT AND IT’S POTENTIAL. EVEN THOUGH THIS INDUSTRY IS ONE OF THE FEW WHERE ONE CAN WRITE THEIR OWN CHECK IN TERMS OF EARNINGS, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the otherTHERE IS NO GUARANTEE THAT YOU WILL EARN ANY MONEY USING THE TECHNIQUES AND IDEAS IN THESE MATERIALS. EXAMPLES IN THESE MATERIALS ARE NOT TO BE INTERPRETED AS A PROMISE OR GUARANTEE OF EARNINGS. EARNING POTENTIAL IS ENTIRELY DEPENDENT ON THE PERSON USING OUR PRODUCT, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerationsIDEAS AND TECHNIQUES. Notwithstanding the provisions of this Section 13.3WE DO NOT PURPORT THIS AS A “GET RICH SCHEME.” ANY CLAIMS MADE OF ACTUAL EARNINGS OR EXAMPLES OF ACTUAL RESULTS CAN BE VERIFIED UPON REQUEST. YOUR LEVEL OF SUCCESS IN ATTAINING THE RESULTS CLAIMED IN OUR MATERIALS DEPENDS ON THE TIME YOU DEVOTE TO THE PROGRAM, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this AgreementIDEAS AND TECHNIQUES MENTIONED, YOUR FINANCES, KNOWLEDGE AND VARIOUS SKILLS. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference toSINCE THESE FACTORS DIFFER ACCORDING TO INDIVIDUALS, among other thingsWE CANNOT GUARANTEE YOUR SUCCESS OR INCOME LEVEL. NOR ARE WE RESPONSIBLE FOR ANY OF YOUR ACTIONS. MATERIALS IN OUR PRODUCT AND OUR WEBSITE MAY CONTAIN INFORMATION THAT INCLUDES OR IS BASED UPON FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE USA SECURITIES LITIGATION REFORM ACT OF 1995. FORWARD-LOOKING STATEMENTS GIVE OUR EXPECTATIONS OR FORECASTS OF FUTURE EVENTS. YOU CAN IDENTIFY THESE STATEMENTS BY THE FACT THAT THEY DO NOT RELATE STRICTLY TO HISTORICAL OR CURRENT FACTS. THEY USE WORDS SUCH AS “ANTICIPATE,” “ESTIMATE,” “EXPECT,” “PROJECT,” “INTEND,” “PLAN,” “BELIEVE,” AND OTHER WORDS AND TERMS OF SIMILAR MEANING IN CONNECTION WITH A DESCRIPTION OF POTENTIAL EARNINGS OR FINANCIAL PERFORMANCE. ANY AND ALL FORWARD LOOKING STATEMENTS HERE OR ON ANY OF OUR SALES MATERIAL ARE INTENDED TO EXPRESS OUR OPINION OF EARNINGS POTENTIAL. MANY FACTORS WILL BE IMPORTANT IN DETERMINING YOUR ACTUAL RESULTS AND NO GUARANTEES ARE MADE THAT YOU WILL ACHIEVE RESULTS SIMILAR TO OURS OR ANYBODY ELSES, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationIN FACT NO GUARANTEES ARE MADE THAT YOU WILL ACHIEVE ANY RESULTS FROM OUR IDEAS AND TECHNIQUES IN OUR MATERIAL. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 3 contracts

Sources: Terms of Use, Terms of Use, Terms of Use

Indemnification. (a) The Company agrees shall indemnify the Holder(s) of the Registrable Securities to indemnify be sold pursuant to any registration statement hereunder and hold harmless Purchaser, its Affiliates, any underwriter or person deemed to be an underwriter under the Act and each Personperson, if any, who controls Purchaser, such Holders or any of its Affiliates, underwriter or persons deemed to be underwriters within the meaning of Section 15 of the Act or Section 20(a) of the Securities Act or the Exchange Act of 1934, as amended (each, a "Controlling PersonExchange Act"), against all loss, claim, damage, expense or liability (including all reasonable attorneys' fees and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and other expenses (including, without limitation and as incurred, reasonable costs of reasonably incurred in investigating, preparing or defending against any such claim whatsoever) to which any of them may become subject under the Act, the Exchange Act or actionotherwise, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received arising from such Indemnified Party an undertaking registration statement. The Holder(s) of the Registrable Securities to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect sold pursuant to such costsregistration statement, and their successors and assigns, shall severally, and not jointly, indemnify the Company, against all loss, claim, damage, expense or liability (including all reasonable attorneys' fees and other expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which they may be incurred become subject under the Act, the Exchange Act or otherwise, arising from information furnished by or on behalf of such Indemnified Party Holders, in connection with any investigativewriting, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is for specific inclusion in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faithregistration statement. (b) If any action shall be is brought against an a party hereto, ("Indemnified Party with Party") in respect to of which indemnity may be sought against the Company under this Agreementother party ("Indemnifying Party"), such Indemnified Party shall promptly notify the Company Indemnifying Party in writing of the institution of such action and the Company, at its option, may, Indemnifying Party shall assume the defense thereofof such action, including the employment and fees of counsel reasonably satisfactory to such the Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failureParty. Such Indemnified Party shall have the right to employ separate its or their own counsel in any such action and participate in the defense thereofcase, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, Party unless (i) the Company has failed to assume employment of such counsel shall have been authorized in writing by Indemnifying Party in connection with the defense and employ counsel of such action, or (ii) the named parties Indemnifying Party shall not have employed counsel to any defend such action action, or (including any impleaded partiesiii) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to may result in a conflict between the Company, Indemnified Party and Indemnifying Party (in which case, if such Indemnified case Indemnifying Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to direct the defense of such action on behalf of the Indemnified Party), in any of which events, the reasonable fees and expenses of not more than one additional firm of attorneys designated in writing by the Indemnified Party shall be borne by Indemnifying Party. Notwithstanding anything to the contrary contained herein, if Indemnified Party shall assume the defense of such action or proceeding on behalf of such Indemnified Partyas provided above, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company Indemnifying Party shall not be liable for any settlement of any such action effected without the its written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceedingconsent. (c) If the indemnification or reimbursement provided for any reason the foregoing indemnity hereunder is finally judicially determined by a court of competent jurisdiction to be unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party (other than as a consequence of a final judicial determination of willful misconduct, bad faith or insufficient to hold an gross negligence of such Indemnified Party harmlessParty), then Indemnifying Party agrees, in lieu of indemnifying such Indemnified Party, the Company shall to contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received received, or sought to be received, by the Company Indemnifying Party on the one hand and by Purchaser such Indemnified Party on the other from the transactions contemplated by this Agreement or (ii) if (but only if) the allocation provided by in clause (i) of this sentence is not permitted under by applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, referred to in such clause (i) but also the relative fault of the Company Indemnifying Party and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3such Indemnified Party; provided, however, that in no event shall the aggregate contribution of all Indemnified Parties shall not amount contributed by a Holder exceed the amount profit, if any, earned by such ▇▇▇▇▇▇ as a result of interest and fees actually received the exercise by Purchaser pursuant to this Agreement. It is hereby further agreed that him of the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser Warrants and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) sale by him of the Securities Act) shall be entitled to contribution from any Person who was not guilty underlying shares of such fraudulent misrepresentationCommon Stock. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) rights accorded to Indemnified Parties hereunder shall be in addition to any liability the Company may have to rights that any Indemnified Party may have at common law law, by separate agreement or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 3 contracts

Sources: Warrant Agreement (Global Telecommunication Solutions Inc), Warrant Agreement (Parkervision Inc), Warrant Agreement (Parkervision Inc)

Indemnification. (a) The Company agrees to indemnify Borrower hereby indemnifies and hold holds harmless Purchasereach Finance Party, its Affiliates, the Funding Agents and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the their respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person their (each an "Indemnified Party"and their Affiliates’) respective officers, advisors, directors and employees (collectively, the "Indemnified Parties"), ”) from and against any and all losses, claims, damages, liabilities losses, liabilities, costs and expenses (includingincluding fees and disbursements of counsel, without limitation and which must be reasonable so long as incurredno Event of Default is continuing), reasonable costs of investigatingjoint or several, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such or asserted or awarded against any Indemnified Party (including in connection with any investigativeinvestigation, administrative litigation or judicial proceeding brought or threatened that relates to the preparation of a defence in connection therewith), in each case arising out of or arises out of, or is in connection with any activities contemplated or by any Transaction reason of this Agreement, the other Finance Documents, the Funding Agreement or the transactions contemplated hereby or thereby or any other services rendered actual or proposed use of the proceeds of the Loans (collectively, the “Indemnified Liabilities”), except (i) to the extent such claim, damage, loss, liability or expense is found in connection herewith; provided that the Company will not be responsible for any claimsa final, liabilities, losses, damages or expenses that are determined non-appealable judgment by final judgment of a court of competent jurisdiction to result have resulted primarily from such Indemnified Party's ’s gross negligence, willful negligence or wilful misconduct or bad faithis a claim, damage, loss, liability or expense which would have been compensated under other provisions of the Finance Documents but for any exclusions applicable thereunder and (ii) with respect to claims, damages, losses, liability or expenses arising solely under the Funds Flow Agreement, to the extent the same are not attributable to the Borrower’s breach of the terms thereof. (b) If any action In the case of an investigation, litigation or other proceeding to which the indemnity in this Clause 13.6 (Indemnification) applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought against by the Borrower, any of its directors, security holders or creditors, an Indemnified Party or any other Person or an Indemnified Party is otherwise a party thereto. (c) Each Indemnified Party shall: (i) furnish the Borrower with prompt notice of any action, suit or other claim covered by this Clause 13.6 (Indemnification); (ii) not agree to any settlement or compromise of any such action, suit or claim without the Borrower’s prior consent; (iii) cooperate fully in the Borrower’s defence of any such action, suit or other claim (provided that the Borrower shall reimburse such Indemnified Party for its out-of-pocket expenses incurred pursuant hereto, which must be reasonable so long as no Event of Default is continuing); and (iv) at the Borrower’s request, permit the Borrower to assume control of the defence of any such claim, other than regulatory, supervisory or similar investigations, provided that: (A) the Borrower acknowledges in writing its obligations to indemnify such Indemnified Party in accordance with the terms herein in connection with such claims; (B) the Borrower shall keep such Indemnified Party fully informed with respect to which indemnity may be sought against the Company under this Agreement, conduct of the defence of such claim; (C) the Borrower shall consult in good faith with such Indemnified Party (from time to time and before taking any material decision) about the conduct of the defence of such claim; (D) the Borrower shall promptly notify conduct the Company in writing defence of such claim properly and diligently taking into account its own interests and those of such Indemnified Party; (E) the Company, at its option, may, assume the defense thereof, including the employment of Borrower shall employ counsel reasonably satisfactory acceptable to such Indemnified Party and at the Borrower’s expense; and (F) the Borrower shall not enter into a settlement with respect to such claim unless either: (I) such settlement involves only the payment of all reasonable fees and expenses. The failure to so notify a monetary sum, does not include any performance by or an admission of liability or responsibility on the Company shall not affect any obligations the Company may have to part of such Indemnified Party under this Agreement and contains a provision unconditionally releasing such Indemnified Party and each other Indemnified Party from, and holding all such Persons harmless against, all liability in respect of claims by any releasing party; or (II) such Indemnified Party provides written consent to such settlement (such consent not to be unreasonably withheld or otherwise unless delayed). (d) Notwithstanding the Company is materially adversely affected by such failure. Such Borrower’s election to assume the defence of an action, suit or other claim pursuant to paragraph (c) above, the Indemnified Party shall have the right to employ separate counsel in such action and to participate in the defense thereofdefence of such action, but suit or claim and the fees Borrower shall bear the fees, costs and expenses of such separate counsel shall be at the expense of such Indemnified Party, unless if: (i) the Company has failed use of counsel chosen by the Borrower to assume the defense and employ represent such Indemnified Party would present such counsel with an actual or potential conflict of interest; (ii) the named parties to actual or potential defendants in, or targets of, any such action (including any impleaded parties) include both the Borrower and such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel concluded that there may be one or more legal defenses defences available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing Borrower and determined that it elects is necessary to employ separate counsel at in order to pursue such defences (in which case the expense of the Company, the Company Borrower shall not have the right to assume the defense defence of such action or proceeding on behalf of such Indemnified Party, provided, however, that ’s behalf); (iii) the Company Borrower shall not, in connection with any one not have employed counsel reasonably acceptable to such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out Indemnified Party to represent such Indemnified Party within a reasonable time after notice of the same general allegations institution of such action; or (iv) the Borrower authorises such Indemnified Party to employ separate counsel at the Borrower’s expense. (e) If any sum due from the Borrower under the Finance Documents (a “Sum”), or circumstancesany order, judgment or award given or made in relation to a Sum, has to be responsible hereunder converted from the currency (the “First Currency”) in which that Sum is payable into another currency (the “Second Currency”) for the reasonable fees and expenses of more than one such firm of separate counselpurpose of: (i) making or filing a claim or proof against the Borrower; (ii) obtaining or enforcing an order, judgment or award in addition relation to any local counsellitigation or arbitration proceedings; the Borrower shall as an independent obligation, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement within three (3) Business Days of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to demand, indemnify and hold harmless each Indemnified Party from and to whom that Sum is due against any cost, loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses the conversion including any discrepancy between (iA) in such proportion as is appropriate the rate of exchange used to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other convert that Sum from the transactions contemplated by this Agreement First Currency into the Second Currency and (B) the rate or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate rates of exchange available to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination time of this Agreement and the other Transaction Agreements and the payment in full its receipt of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Partythat Sum.

Appears in 3 contracts

Sources: Facility Agreement (Royal Caribbean Cruises LTD), Facility Agreement (Royal Caribbean Cruises LTD), Facility Agreement (Royal Caribbean Cruises LTD)

Indemnification. (a) The Company agrees to shall (i) indemnify and hold harmless Purchaser, its Affiliates, the Manager and any Affiliate of the Manager and each Personof their respective directors, if anyofficers, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act employees and agents (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, expenses or liabilities to which such Indemnified Party may become subject (except in respect of the broker-dealer engaged by the Manager in respect of placement of Contracts, which shall be the sole liability of the Manager), insofar as such losses, claims, damages, expenses or liabilities (or actions, suits or proceedings including any inquiry or investigation or claims in respect thereof) arise out of, in any way relate to, or result from the transactions contemplated by, this Agreement, and (ii) reimburse each of the Indemnified Parties upon its demand for any reasonable legal or other expenses (including, without limitation and as incurred, reasonable costs of incurred in connection with investigating, preparing to defend or defending any such claim loss, claim, damage, liability, action or actionclaim, whether in each case only to the extent that funds are available therefor in accordance with the Security Agreement; provided, however, that none of the Indemnified Parties shall have the right to be so indemnified hereunder for losses, claims, damages, expenses or not such Indemnified Party liabilities to the extent resulting from its own negligence or willful misconduct or for losses, claims, damages, expenses or liabilities that it is a party thereto, provided that the Company shall not be obligated required to advance such costs pay to any Indemnified Party other than Purchaser unless broker-dealer that it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party engaged in connection with any investigative, administrative the Contracts or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) . If any action shall be is brought against an Indemnified Party with respect indemnified or intended to which indemnity may be sought against indemnified pursuant to this Section 2.12, the Company under this Agreementshall, if requested by such Indemnified Party shall promptly notify Party, resist and defend such action, suit or proceeding or cause the Company in writing same to be resisted and the Company, at its option, may, assume the defense thereof, including the employment of defended by counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company Party, but shall not affect any obligations the Company may have be empowered to compromise or settle such action, suit or proceeding unless such Indemnified Party under this Agreement has been fully indemnified for any loss, claim, damage, expense or otherwise liability it thereby suffers. Each Indemnified Party shall, unless the Company is materially adversely affected by such failure. Such Indemnified Party shall has made the request described in the preceding sentence and such request has been complied with, have the right to employ separate its own counsel in such action to investigate and participate in control the defense thereof, but of any matter covered by such indemnity and the reasonable fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company. Any obligations of the Company has failed pursuant to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party this Section 2.12 are Deferred Expenses and the Company, and such Indemnified Party Manager shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available recourse solely to the Company, in which case, if LOC Reimbursement Account for such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent obligations of the Company (which shall and not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent other assets of the Company) and shall be paid in the priority specified in the applicable sections of Article VII of the Security Agreement. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent The Manager hereby expressly consents to such limited recourse to the entry LOC Reimbursement Account and to such priorities of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations distributions set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full Article VII of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartySecurity Agreement.

Appears in 3 contracts

Sources: Liability and Portfolio Management Agreement (Genworth Financial Inc), Liability and Portfolio Management Agreement (Genworth Financial Inc), Liability and Portfolio Management Agreement (Genworth Financial Inc)

Indemnification. (a) The Company agrees to will indemnify and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of PurchaserAdvisors, their Affiliates and any such Controlling Person their respective partners (both general and limited), members (both managing and otherwise), officers, directors, employees, agents and representatives (each such person being an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all actions, suits, investigations, losses, claims, damagesdamages and liabilities, liabilities including in connection with seeking indemnification, whether joint or several (the “Liabilities”), related to, arising out of or in connection with the Services or other services contemplated by this Agreement or the engagement of the Advisors pursuant to, and the performance by the Advisors of the Services or other services contemplated by, this Agreement, whether or not pending or threatened, whether or not an Indemnified Party is a party, whether or not resulting in any liability and whether or not such action, claim, suit, investigation or proceeding is initiated or brought by the Company. The Company will reimburse any Indemnified Party for all reasonable costs and expenses (including, without limitation including reasonable attorneys’ fees and expenses and any other litigation-related expenses) as incurred, reasonable costs of they are incurred in connection with investigating, preparing preparing, pursuing, defending or defending assisting in the defense of any such claim action, claim, suit, investigation or actionproceeding for which the Indemnified Party would be entitled to indemnification under the terms of the previous sentence, or any action or proceeding arising therefrom, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company that it will not, without the prior written consent of Purchaserthe Indemnified Party, settle or settle, compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit action or proceeding in respect relating to which indemnification or contribution may be sought hereunder the matters contemplated hereby (whether or not if any Indemnified Party is a party thereto or has been threatened to be made a party thereto) unless such settlement, compromise, compromise or consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, Party from all liability liability, without future obligation or prohibition on the part of the Indemnified Party, arising or that may arise out of such actionclaim, action or proceeding, and does not contain an admission of guilt or liability on the part of the Indemnified Party. The Company will not be liable under the foregoing indemnification provision with respect to any particular loss, claim, suit damage, liability, cost or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms expense of such indemnity) to an Indemnified Party that is determined by a court, in a final judgment from which no further appeal may be taken, to have resulted solely from the gross negligence or insufficient to hold willful misconduct of such Indemnified Party. The attorneys’ fees and other expenses of an Indemnified Party harmlessshall be paid by the Company as they are incurred upon receipt, then in lieu each case, of indemnifying an undertaking by or on behalf of the Indemnified Party to repay such amounts if it is finally judicially determined that the Liabilities in question resulted solely from the gross negligence or willful misconduct of such Indemnified Party, the Company shall contribute to the amount paid or payable by such . The rights of an Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall indemnification hereunder will be in addition to any liability other rights and remedies any such person may have under any other agreement or instrument to which each Indemnified Party is or becomes a party or is or otherwise becomes a beneficiary or under any law or regulation. The Company acknowledges and agrees that the Company shall be fully and primarily responsible for the payment to an Indemnified Party in respect of indemnification or advancement of expenses in connection with any jointly indemnifiable claim (as defined below), pursuant to and in accordance with the terms of this Agreement, irrespective of any right of recovery the Indemnified Party may have from the Indemnitee-related entities. Under no circumstance shall the Company be entitled to any right of subrogation or contribution by the Indemnitee-related entities and no right of advancement or recovery the Indemnified Party at common law may have from the Indemnitee-related entities shall reduce or otherwise; (ii) otherwise alter the rights of the Indemnified Party or the obligations of the Company hereunder. In the event that any of the Indemnitee-related entities shall survive make any payment to the termination Indemnified Party in respect of indemnification or advancement of expenses with respect to any jointly indemnifiable claim, the Indemnitee-related entity making such payment shall be subrogated to the extent of such payment to all of the rights of recovery of the Indemnified Party against the Company, and Indemnified Party shall execute all papers reasonably required and shall do all things that may be reasonably necessary to secure such rights, including the execution of such documents as may be necessary to enable the Indemnitee-related entities effectively to bring suit to enforce such rights. The Company and each Indemnified Party agree that each of the Indemnitee-related entities shall be third-party beneficiaries with respect to this Section 5, entitled to enforce this Section 5 as though each such Indemnitee-related entity were a party to this Agreement. For purposes of this Agreement and Section 5, the other Transaction Agreements and following terms shall have the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.following meanings:

Appears in 3 contracts

Sources: Advisory Fee Agreement (Performance Food Group Co), Advisory Fee Agreement (Performance Food Group Co), Advisory Fee Agreement (Performance Food Group Co)

Indemnification. (a) The Company 25.1 Each Party agrees to indemnify release, indemnify, defend and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), other Party from and against any and all losses, claims, demands, damages, liabilities and expenses (expenses, suits or other actions, or any liability whatsoever, including, without limitation but not limited to, costs and as incurredattorneys' fees (collectively, reasonable costs a "Loss"), (a) whether suffered, made, instituted, or asserted by any other party or person, relating to personal injury to or death of investigatingany person, preparing or defending any such claim for loss, damage to, or actiondestruction of real and/or personal property, whether or not such Indemnified Party is a party theretoowned by others, provided that the Company shall not be obligated arising from transactions or activities relating to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay this Agreement and to the Company extent proximately caused by the costs so advanced if it should be determined by final judgment negligent or willful acts or omissions of a court the indemnifying Party, regardless of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out ofthe form of action, or is (b) suffered, made, instituted, or asserted by its own customer(s) against the other Party arising out of the other Party's provision of services to the indemnifying Party under this Agreement. Notwithstanding the foregoing indemnification, nothing in connection with any activities contemplated by any Transaction Agreement this Section 25.0 shall affect or any other services rendered in connection herewith; provided that the Company will not be responsible for limit any claims, liabilitiesremedies, lossesor other actions the indemnifying Party may have against the indemnified Party under this Agreement, damages any other contract, or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified any applicable Tariff(s), regulations or laws for the indemnified Party's gross negligenceprovision of said services. 25.2 The indemnification provided herein shall be conditioned upon: (a) The indemnified Party shall promptly notify the indemnifying Party of any action, willful misconduct claim, lawsuit or bad faithdemand taken against the indemnified Party relating to the indemnification. (b) If The indemnifying Party shall have sole authority to defend any action such action, claim, lawsuit or demand including the selection of legal counsel, and the indemnified Party may engage separate legal counsel only at its sole cost and expense. The Indemnifying Party shall be brought against an keep the Indemnified Party with respect to which indemnity may reasonably and timely apprised of the status of the action, claim, demand or lawsuit. The Indemnifying Party will not be sought against the Company liable under this AgreementSection for settlements or compromises by the Indemnified party of any action, such Indemnified claim, demand or lawsuit unless the Indemnifying Party shall promptly notify has approved the Company settlement or compromise in advance or unless the defense of the action, claim, demand or lawsuit has been tendered to the Indemnifying Party in writing and the CompanyIndemnifying Party has failed to promptly undertake the defense. (c) In no event shall the indemnifying Party settle or consent to any judgment pertaining to any such action without the prior written consent of the indemnified Party, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company which consent shall not affect any obligations be unreasonably withheld. However, in the Company may have to such event the settlement or judgment requires a contribution from or affects the rights of the Indemnified Party under this Agreement or otherwise unless Party, the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel refuse such settlement or judgment and, at its own cost and expense, take over the defense against such Loss, provided that in such action and participate in event the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified indemnifying Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable responsible for, nor shall it be obligated to indemnify the indemnified Party against, the Loss for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment amount in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out excess of such action, claim, suit refused settlement or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationjudgment. (d) The indemnificationindemnified Party shall, contribution in all cases, assert any and expense reimbursement obligations set forth all provisions in this Section 13.3 (i) shall be in addition its Tariffs that limit liability to third parties as a bar to any liability recovery by the Company may have to any Indemnified third party claimant in excess of such limitation of liability. (e) The indemnified Party at common law or otherwise; (ii) shall survive offer the termination of this Agreement indemnifying Party all reasonable cooperation and assistance in the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless defense of any investigation made by such action, demand or on behalf of Purchaser or any other Indemnified Partylawsuit.

Appears in 3 contracts

Sources: Interconnection Agreement (Harvardnet Inc), Interconnection Agreement (Harvardnet Inc), Interconnection Agreement (Harvardnet Inc)

Indemnification. (a) The Company agrees Lenders severally agree to indemnify upon demand the Administrative Agent, the Collateral Agent, and each Related Party of any of the foregoing (to the extent not reimbursed by the Borrower in accordance with its obligations under section 9.5), according to their respective Ratable Shares, and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), Indemnitee from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or actionIndemnified Liabilities in all cases, whether or not caused by or arising, in whole or in part, out of the negligence of any Related Party; provided, however that no Lender shall be liable for the payment to any Related Party for any portion of such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay Liabilities to the Company the costs so advanced if it should be extent determined in a final, nonappealable judgment by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result have resulted from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party Related Party’s own gross negligence or willful misconduct; and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, providedprovided further, however, that no action taken in accordance with the Company directions of the Required Lenders shall notbe deemed to constitute gross negligence or willful misconduct for purposes of this section. Without limitation of the foregoing, each Lender agrees to reimburse the Agents promptly upon demand for its ratable share of any out-of-pocket expenses (including all fees, expenses and disbursements of any law firm or other external counsel and, without duplication, the allocated cost of internal legal services and all expenses and disbursements of internal counsel) incurred by any Agent in connection with any one such action the preparation, execution, delivery, administration, modification, amendment, or proceeding enforcement (whether through negotiations, legal proceedings, or separate but substantially similar otherwise) of, or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding legal advice in respect to which indemnification of rights or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlementresponsibilities under, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if any other Loan Document, to the allocation provided by clause (i) extent that such Agent is not permitted under applicable law, in reimbursed for such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerationsBorrower. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth undertaking in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement the Commitments, the payment of all other Obligations and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless resignation of any investigation made by or on behalf of Purchaser or any other Indemnified PartyAgent.

Appears in 3 contracts

Sources: Credit Agreement (Cig Wireless Corp.), Credit Agreement (Cig Wireless Corp.), Credit Agreement (Cig Wireless Corp.)

Indemnification. (a) The Company PMHS/I4G agrees to indemnify and hold harmless Purchaser, FHH and its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employeesdirectors, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and affiliates against any and all losses, claims, damages, liabilities obligations, penalties, judgments, awards, liabilities, costs, expenses and disbursements (and all actions, suits, proceedings and investigations in respect thereof and any and all legal or other costs, expenses (and disbursements in giving testimony or furnishing documents in response to a subpoena or otherwise), including, without limitation limitation, the costs, expenses, and disbursements, as and when incurred, reasonable costs of investigating, preparing or defending any such claim or action, proceeding or investigation (whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigativelitigation to which FHH is a Party), administrative directly or judicial proceeding brought indirectly, caused by, relating to, based upon, arising out of or threatened that relates to or arises out of, or is in connection with any activities contemplated information provided by any Transaction Agreement the Company which contains a material misrepresentation or any other services rendered material omission in connection herewithwith the provision of services by FHH under this Agreement; provided that however, such indemnity agreement shall not apply to any portion of any such loss, claim, damage, obligation, penalty, judgment, award, liability, cost, expense or disbursement to the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined extent it is found by final judgment of a court of competent jurisdiction to result have resulted from negligence or willful misconduct of FHH. For example, FHH’s indemnification shall not extend to claims arising from PMHS/IG4’s manufacturing defects, quality issues, or failure to meet FDA or other regulatory standards. Each Party entitled to indemnification under this agreement (the “Indemnified Party”), shall give notice to the Party required to provide indemnification (the “Indemnifying Party”) promptly, within thirty (30) days, after such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If Party has actual knowledge of any action shall be brought against an Indemnified Party with respect claim as to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Companysought, and such Indemnified shall permit the Indemnifying Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of any such action claim or proceeding on behalf of such Indemnified any litigation resulting there from, provided that counsel for the Indemnifying Party, providedwho shall conduct the defense at such claim or any litigation resulting there from, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated approved by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company Indemnified Party (which whose approval shall not be unreasonably withheld) ), and the Company agrees Indemnified Party may participate in such defense at such Party’s expense, and provided further that the failure of any Indemnified Party to give notice as provided herein shall not relieve the Indemnifying Party of its obligations under this Section 7. Each Indemnified Party shall furnish such information regarding itself or the claim in question as an Indemnifying Party may reasonably request in writing and as shall be reasonably required in connection with defense of such claim and any litigation resulting therefrom. Notwithstanding the foregoing, FHH shall indemnify and hold harmless each Indemnified Party from PMHS/I4G, its directors, officers, subsidiaries and affiliates against any loss or liability by reason of settlement of any action effected with the consent of the Company. In additionand all losses, the Company will notclaims, without the prior written consent of Purchaserdamages, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened actionobligations, claimpenalties, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlementjudgments, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claimsawards, liabilities, lossescosts, damagesexpenses and disbursements resulting from any actions taken, claims made, or expenses (i) in such proportion as is appropriate to reflect misrepresentations by FHH regarding the relative benefits received by the Company on the one hand products and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation services provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand PMHS its subsidiaries and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser affiliates pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 3 contracts

Sources: Product Fulfillment and Distribution Agreement (Polomar Health Services, Inc.), Product Fulfillment and Distribution Agreement (Polomar Health Services, Inc.), Product Fulfillment and Distribution Agreement (Polomar Health Services, Inc.)

Indemnification. (a) The Company agrees to indemnify indemnify, defend and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), Parties from and against any and all losses, claims, damages, liabilities losses, liabilities, actions, suits, proceedings and expenses (including, without limitation limitation, fees and disbursements of counsel), that may be incurred by or asserted or awarded against any Indemnified Party, in each case arising out of this Agreement (including as incurreda result of any breach or inaccuracy of any representation, reasonable costs warranty or covenant of investigatingthe Company herein), preparing the other Transaction Documents, or defending the transactions contemplated hereby or thereby, any such claim use made or actionproposed to be made by the Company with the proceeds of the Common Stock Equity Offering, or any claim, litigation, investigation, inquiry or proceeding relating to any of the foregoing, regardless of whether or not such any Indemnified Party is a party thereto, provided that and the Company shall not reimburse each Indemnified Party upon demand for reasonable and documented fees and expenses of counsel (which, so long as there are no conflicts among such Indemnified Parties, shall be obligated limited to advance such costs one law firm serving as counsel for the Indemnified Parties) and other expenses incurred by it in connection with investigating, preparing to defend or defending, or providing evidence in or preparing to serve or serving as a witness with respect to, any lawsuit, investigation, claim or other proceeding relating to any Indemnified Party other than Purchaser unless it has received of the foregoing, irrespective of whether the transactions contemplated hereby are consummated, except to the extent such claim, damage, loss, liability, or expense is found in a Final Order to have resulted from such Indemnified Party’s bad faith, actual fraud, gross negligence, or willful misconduct. No Indemnified Party an undertaking to repay shall have any liability (whether direct or indirect, in contract, tort or otherwise) to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party Company, for or in connection with any investigativethe transactions contemplated hereby, administrative or judicial proceeding brought or threatened that relates except to or arises out ofthe extent such liability is found in a final, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment non-appealable order of a court of competent jurisdiction to result have resulted from such Indemnified Party's gross negligence, willful misconduct or ’s bad faith. (b) If , actual fraud, gross negligence or willful misconduct. In no event, however, shall the Company or any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against liable on any theory of liability for any special, indirect, consequential or punitive damages. Without the prior written consent of the Indemnified Parties, the Company under agrees that it will not enter into any settlement of any lawsuit, claim or other proceeding arising out of this Agreement, the other Transaction Documents, or the transactions contemplated hereby or thereby, unless such settlement (i) includes an explicit and unconditional release from the party bringing such lawsuit, claim or other proceeding of all Indemnified Parties and (ii) does not include a statement as to or an admission of fault, culpability, or a failure to act by or on behalf of any Indemnified Party. No Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement damages arising from the use by unauthorized persons of any information made available to the Indemnified Parties by the Company or representatives through electronic, telecommunications or other information transmission systems that is intercepted by such action effected persons. No Indemnified Party shall settle any lawsuit, claim, or other proceeding arising out of this Agreement, the other Transaction Documents, or the transactions contemplated hereby or thereby without the prior written consent of the Company (which shall such consent not to be unreasonably withheld) and withheld or delayed). Notwithstanding the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In additionforegoing, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party shall be entitled to no indemnification by the Company for any claim, damage, loss, liability, or insufficient to hold an expense incurred by or asserted or awarded against such Indemnified Party harmless, then in lieu for (x) any violation of indemnifying Law by such Indemnified Party, the Company shall contribute or (y) to the amount paid extent that a claim, damage, loss, liability or payable by such Indemnified Party as a result expense is attributable to the Purchaser’s breach of such claimsany of the representations, liabilitieswarranties, losses, damages, covenants or expenses (i) in such proportion as is appropriate to reflect the relative benefits received agreements made by the Company on the one hand and by Purchaser on the other from the transactions contemplated by in this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartyDocuments.

Appears in 3 contracts

Sources: Common Stock Purchase Agreement (NextDecade Corp.), Common Stock Purchase Agreement (NextDecade Corp.), Common Stock Purchase Agreement (Ninteenth Investment Co LLC)

Indemnification. (a) a. The Company Employer agrees to indemnify and hold harmless Purchaser, to Orpheus and its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partnersaffiliates, agents, and their respective directors, officers, employees, officers agents and Directors of Purchaser, their Affiliates and any such Controlling Person controlling persons (each such person is hereinafter referred to as an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (includingwhatsoever, without limitation and as incurredjoint or several, reasonable costs of investigating, preparing or defending to which any such Indemnified Party may become subject under any applicable law of Malaysia or otherwise, caused by, relating to or arising out of the engagement evidenced hereby. The Employer will reimburse any Indemnified Party for any expenses (including reasonable counsel fees and expenses) as they are incurred by an Indemnified Party in connection with the investigation of, preparation for or defense of any pending or threatened claim or actionany action or proceeding arising therefrom, whether or not resulting in liability; provided, however, that at the time of such reimbursement the Indemnified Party is a party thereto, provided that shall have entered into an agreement with the Company shall not be obligated to advance such costs to any Employer whereby the Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking agrees to repay to the Company the costs so advanced all such reimbursed amounts if it should be is determined in a final judgement by final judgment of a court of competent jurisdiction that such the Indemnified Party was is not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that indemnity from Orpheus. Notwithstanding the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Companyforegoing, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company Employer shall not be liable for to any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with under the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent foregoing indemnification provision to the entry of extent that any judgment in or otherwise seek to terminate any pending or threatened actionloss, claim, suit damage, liability or proceeding in respect to which indemnification expense results directly from any such Indemnified Party’s misconduct or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceedinggross negligence. (c) b. If for any reason (other than a final non-appealable judgement finding any Indemnified Party liable for losses, claims, damages, liabilities or expenses for its gross negligence or willful misconduct) the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company Employer shall contribute to the amount paid or payable by such an Indemnified Party as a result of such claimsloss, liabilitiesclaim, lossesdamage, damages, liability or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, expense in such proportion as is appropriate to reflect not only the relative benefits received by the Company Employer on the one hand and Purchaser Orpheus on the other, but also the relative fault of by the Company Employer and Purchaser the Indemnified Party, as well as any other relevant equitable considerations. Notwithstanding , subject to the provisions of this Section 13.3, limitation that in no event shall the aggregate total contribution of all Indemnified Parties shall not to all such losses, claims, damages, liabilities or expenses exceed the amount of interest and fees actually received and retained by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationhereunder. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 3 contracts

Sources: Service Level Agreement, Service Level Agreement, Service Level Agreement

Indemnification. (a) The Company NRG Energy hereby agrees to indemnify and hold harmless Purchasereach Agent, its Affiliates, each Lender and each Personof their Affiliates and their officers, if anydirectors, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partnersemployees, agents, employeesadvisors (including, officers without limitation, the Advisors) and Directors of Purchaser, their Affiliates and any such Controlling Person other representatives (each an "Indemnified PartyINDEMNIFIED PARTY") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, losses, liabilities and expenses (including, without limitation and as incurredlimitation, reasonable costs fees and expenses of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided counsel) that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such or asserted or awarded against any Indemnified Party Party, in each case arising out of or in connection with or by reason of (including, without limitation, in connection with any investigativeinvestigation, administrative litigation or judicial proceeding brought or threatened that relates to or arises out of, or is preparation of a defense in connection with any activities contemplated therewith) (a) this Second Collateral Call Extension Letter or the Xcel Letter or (b) the Proposed Restructuring, except to the extent such claim, damage, loss, liability or expense is found in a final, nonappealable judgment by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result have resulted directly and primarily from such Indemnified Party's gross negligencenegligence or willful misconduct. In the case of an investigation, willful misconduct litigation or bad faith. (b) If any action proceeding to which the indemnity in this paragraph applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought against by any NRG Party, any shareholder of any NRG Party, or any creditor of any NRG Party or an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such or an Indemnified Party shall promptly notify is otherwise a party thereto and whether or not the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expensesProposed Restructuring is consummated. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such NRG Energy further agrees that no Indemnified Party shall have any liability (whether direct or indirect, in contract or tort or otherwise) to it or any of its Subsidiaries or Affiliates or to its or their respective security holders or creditors arising out of, related to or in connection with this Second Collateral Call Extension Letter, the right Xcel Letter or the Proposed Restructuring, except for direct, as opposed to employ separate counsel consequential, damages determined in such action a final nonappealable judgment by a court of competent jurisdiction to have resulted directly and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of primarily from such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel 's gross negligence or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceedingwillful misconduct. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 3 contracts

Sources: Collateral Call Extension Letter (Xcel Energy Inc), Collateral Call Extension Letter (LSP Batesville Funding Corp), Collateral Call Extension Letter (NRG Energy Inc)

Indemnification. (a1) The Company Phage agrees to indemnify and hold harmless Purchaserthe Purchaser(s), its Affiliates, and each Person, if any, who controls PurchaserPurchaser(s), or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaserthe Purchasers, their Affiliates and any such Controlling Person (each an a "Purchaser Indemnified Party") and collectively, the "Purchaser Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such the Purchasers Indemnified Party is a party thereto, provided that the Company shall Phage will not be obligated to advance such costs to any the Purchasers Indemnified Party other than Purchaser the Purchasers unless it has received from such the Purchasers Indemnified Party an undertaking to repay to the Company Phage the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such the Purchasers Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such the Purchasers Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that Phage will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such the Purchasers Indemnified Party's gross negligence, willful misconduct or bad faith. 2) The Purchasers agrees to indemnify and hold harmless Phage, its Affiliates, and each Person, if any, who controls Phage, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective employees, officers and Directors of Phage (each a "Company Indemnified Party") and collectively, the "Company Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Company Indemnified Party is a party thereto, provided that the Purchasers will not be obligated to advance such costs to any Company Indemnified Party other than Phage unless it has received from such Company Indemnified Party an undertaking to repay to the Purchaser the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Company Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Company Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company Purchasers will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Company Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 3 contracts

Sources: Securities Purchase Agreement (Phage Therapeutics International Inc), Securities Purchase Agreement (Phage Therapeutics International Inc), Securities Purchase Agreement (Phage Therapeutics International Inc)

Indemnification. (a) The Company agrees to indemnify Company, as applicable, will indemnify, defend, exonerate and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), Consultant Related Parties from and against any and all lossesactions, causes of action, suits, claims, liabilities, losses, damages, liabilities costs and expenses (including, without limitation reasonable attorneys’ fees, expenses and disbursements) incurred by such Consultant Related Parties or any of them before, on or after the date of this Agreement, arising out of, incurred in connection with or as incurreda result of, or in any way relating to, (i) this Agreement or the conduct of the respective businesses of the Company or any members of the StandardAero Group, (ii) services provided by the Consultant or any Consultant Designee to the Company or any members of the StandardAero Group from time to time pursuant to this Agreement or (iii) the exercise, enforcement or preservation of any rights or remedies under this Agreement (collectively, the “Indemnified Liabilities”); provided that the foregoing indemnification rights will not be available to the extent that a court of competent jurisdiction determines by final non-appealable judgment or order that such Indemnified Liabilities arose on account of such Consultant Related Party’s gross negligence or willful misconduct; and provided, further, that if and to the extent that the foregoing right to indemnification may be unavailable or unenforceable for any reason, the Company hereby agrees to make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law. (b) The Company, as applicable, will reimburse any Consultant Related Party for all reasonable costs of and expenses (including reasonable attorneys’ fees and expenses and any other litigation-related expenses) as they are incurred in connection with investigating, preparing preparing, pursuing, defending or defending assisting in the defense of any such claim action, claim, suit, investigation or actionproceeding for which the Consultant Related Party would be entitled to indemnification under the terms of Section 7(a), or any action or proceeding arising therefrom, whether or not such Indemnified Consultant Related Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company agree that it will not, without the prior written consent of Purchaserthe Consultant, settle or settle, compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit action or proceeding in respect relating to which indemnification or contribution may be sought hereunder the matters contemplated hereby (whether or not if any Indemnified Consultant Related Party is a party thereto or has been threatened to be made a party thereto) unless such settlement, compromise, compromise or consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, Consultant Related Party from all liability liability, without future obligation or prohibition on the part of such Consultant Related Party, arising or that may arise out of such action, claim, suit action or proceeding, and does not contain an admission of guilt or liability on the part of the Consultant Related Party. (c) If for The rights of any reason the foregoing indemnity is unavailable (otherwise than pursuant Consultant Related Party to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall indemnification hereunder will be in addition to any liability other rights any such person may have under any other agreement or instrument referenced above or any other agreement or instrument to which such Consultant Related Party is or becomes a party or is or otherwise becomes a beneficiary or under law or regulation. The Company hereby acknowledges that each Consultant Related Party may have certain rights to indemnification, advancement of expenses and/or insurance provided by one or more persons or entities with whom or which such Consultant Related Party may be associated (including, without limitation, any other Consultant Related Party). The Company hereby acknowledges and agrees that (i) the Company may have shall be the indemnitors of first resort with respect to any Indemnified Party at common law or otherwise; Liability, (ii) the Company shall survive the termination be primarily liable for all Indemnified Liabilities and any indemnification afforded to any Consultant Related Party in respect of any Indemnified Liabilities, whether created by law, organizational or constituent documents, contract (including this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and Agreement) or otherwise, (iii) shall remain operative and in full force and effect regardless any obligation of any investigation made by other person or entity with whom or which any Consultant Related Party may be associated (including, without limitation, any other Consultant Related Party) to indemnify such Consultant Related Party and/or advance expenses to such Consultant Related Party in respect of any proceeding shall be secondary to the obligations of the Company hereunder, (iv) the Company shall be required to indemnify each Consultant Related Party and advance expenses to each Consultant Related Party hereunder to the fullest extent provided herein without regard to any rights such Consultant Related Party may have against any other person or entity with whom or which such Consultant Related Party may be associated (including, without limitation, any other Consultant Related Party) or insurer of any such person or entity and (v) the Company (on behalf of Purchaser themselves and their respective insurers) irrevocably waives, relinquishes and releases any other person or entity with whom or which any Consultant Related Party may be associated from any claim of contribution, subrogation or any other recovery of any kind in respect of amounts paid by the Company hereunder. In the event any other person or entity with whom or which any Consultant Related Party may be associated (including, without limitation, any other Consultant Related Party) or their insurers advances or extinguishes any liability or loss which is the subject of any Indemnified Liability owed by the Company or payable under any insurance policy provided under this Agreement, the payor shall have a right of subrogation against the Company or their respective insurer or insurers, as applicable, for all amounts so paid which would otherwise be payable by the Company or their respective insurer or insurers under this Agreement. In no event will payment of an Indemnified Liability under this Agreement by any other person or entity with whom or which any Consultant Related Party may be associated (including, without limitation, other Consultant Related Parties) or their insurers affect the obligations of the Company hereunder or shift primary liability for any Indemnified Liability to any other person or entity with whom or which such Consultant Related Party may be associated (including, without limitation, any other Consultant Related Party).

Appears in 3 contracts

Sources: Consulting Services Agreement (StandardAero, Inc.), Consulting Services Agreement (StandardAero, Inc.), Consulting Services Agreement (StandardAero, Inc.)

Indemnification. The Seller shall indemnify the Purchaser and its successors, transferees, and assigns (aincluding each Secured Party) The Company agrees to indemnify (each of the foregoing Persons being individually called an “Indemnified Party”) against, and hold each Indemnified Party harmless Purchaserfrom, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all costs, losses, claims, damages, liabilities and related expenses (includingincluding the reasonable and documented out-of- pocket fees, without limitation charges and as incurred, reasonable costs disbursements of investigating, preparing any outside counsel for any Indemnitee) (all of the foregoing being collectively called “Indemnified Amounts”) incurred by any Indemnified Party or defending awarded against any such claim or action, whether or not Indemnified Party by any Person (including the Seller) other than such Indemnified Party is arising out of any material breach by the Seller of any of its obligations hereunder or arising as a party thereto, result of the failure of any representation or warranty of the Seller herein to be true and correct in all material respects on the date such representation or warranty was made; provided that the Company such indemnity shall not be obligated to advance such costs not, as to any Indemnified Party other than Purchaser unless it has received from Indemnitee, be available to the extent that such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be Amounts (w) are determined by final judgment of a court of competent jurisdiction that by final and nonappealable judgment to have resulted from the gross negligence, fraud, bad faith or willful misconduct of such Indemnified Party was not entitled to indemnification or its reckless disregard of its duties hereunder with respect to such costsor any Transaction Document, (x) which may be incurred result from a claim brought by the Seller against an Indemnified Party for breach in bad faith of such Indemnified Party Party’s obligations hereunder or under any other Transaction Document, if the Seller has obtained a final and nonappealable judgment in connection with its favor on such claim as determined by a court of competent jurisdiction, (y) include any investigativepunitive, administrative indirect, consequential, special damages, lost profits or judicial proceeding brought other similar damages or threatened that relates (z) constitute Collateral Obligations which are uncollectible due to or arises out of, the financial inability to pay of any obligor on a Transferred Asset. If the Seller has made any payment pursuant to this Section 2.2 and the recipient thereof later collects any payments from others (including insurance companies) in respect of such amounts or is found in connection with any activities contemplated a final and nonappealable judgment by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction not to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) then the recipient agrees that it shall be in addition promptly repay to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartySeller such amounts collected.

Appears in 3 contracts

Sources: Sale and Contribution Agreement (Owl Rock Technology Finance Corp.), Sale and Contribution Agreement (Owl Rock Technology Income Corp.), Sale and Contribution Agreement (Owl Rock Capital Corp II)

Indemnification. (a) The Company agrees to indemnify Environmental Response Trust shall indemnify, defend and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within (without the meaning of Environmental Trust Parties having to first pay from their personal funds) the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), Environmental Trust Parties from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs causes of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, obligations, losses, costs, judgments, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including attorneys’ fees) and any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense other assertion of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction liability arising out of the same general allegations ownership or circumstances, be responsible hereunder for the reasonable fees and expenses environmental condition of more than one such firm of separate counsel, Environmental Trust Assets or action or inaction or in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected connection with the consent of the Company. In additionEnvironmental Trustee’s duties, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable fullest extent permitted by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, including but not limited to, those caused or alleged to be caused by negligence or fault of any Environmental Trust Party (except for fraud, willful misconduct, or criminal conduct), provided that such indemnification shall be limited to funds in the relevant Environmental Trust Environmental Cost Account for the DPH Sites if it relates to Environmental Action or the Environmental Trust Administrative Account. Without limiting the foregoing, any such proportion as is appropriate judgment against a Environmental Trust Party and any such costs of defense relating to reflect not only the relative benefits received any Environmental Trust Party shall be paid by the Company on Environmental Response Trust consistent with the one hand terms and Purchaser on the other, but also the relative fault conditions of the Company and Purchaser as well as any other relevant equitable considerationsthis Section. Notwithstanding the provisions foregoing, to the extent fraud, willful misconduct, or criminal conduct of this Section 13.3any Environmental Trust Party is alleged and the Court finds, by a final order, not reversed on appeal, that such Environmental Trust Party committed fraud, willful misconduct, or criminal conduct after the aggregate contribution Effective Date in relation to the Environmental Trustee’s duties, there shall be no indemnification, of all Indemnified Parties that Environmental Trust Party, for any judgments arising from such allegations of fraud, willful misconduct, or criminal conduct. It shall be an irrebuttable presumption that any action taken, or inaction, consistent with Court approval shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed constitute willful misconduct or fraud, provided that the relative benefits there has been no misrepresentation to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationCourt. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 3 contracts

Sources: Joint Stipulation and Agreed Order, Environmental Response Trust Agreement, Environmental Response Trust Agreement

Indemnification. 7.1 To the fullest extent permitted by law, and subject to the limitations set forth in Section 6 of this Agreement each Party (athe "Indemnifying Party") The Company agrees to shall indemnify and hold harmless Purchaser, its Affiliatesthe other Party, and each Personits current and future direct and indirect parent companies, if anyaffiliates and their shareholders, who controls Purchaserofficers, or any of its Affiliatesdirectors, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partnersemployees, agents, employeesservants and assigns (collectively, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an the "Indemnified Party") and collectivelyat the Indemnified Party's option, the "Indemnifying Party shall defend the Indemnified Parties"), Party from and against any and all claims and/or liabilities for losses, claimsexpenses, damagesdamage to property, liabilities and expenses (injury to or death of any person, including, without limitation but not limited to, the Indemnified Party's employees and as incurredits affiliates' employees, subcontractors and subcontractors' employees, or any other liability incurred by the Indemnified Party, including reasonable costs expenses, legal and otherwise, which shall include reasonable attorneys' fees, caused wholly or in part by any negligent grossly negligent or willful act or omission by the Indemnifying Party, its officers, directors, employees, agents or assigns arising out of investigatingthis Agreement, preparing except to the extent caused wholly or defending in part by any such negligent grossly negligent or willful act or omission of the Indemnified Party. 7.2 If any claim or actioncovered by Section 7.1 is brought against the Indemnified Party, whether or not such then the Indemnifying Party shall be entitled to participate in, and unless in the opinion of counsel for the Indemnified Party is a party thereto, provided that conflict of interest between the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder Parties may exist with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigativeclaim, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf claim, with counsel reasonably acceptable to the Indemnified Party. If the Indemnifying Party does not assume the defense of such the Indemnified Party, providedor if a conflict precludes the Indemnifying Party from assuming the defense, howeverthen the Indemnifying Party shall reimburse the Indemnified Party on a monthly basis for the Indemnified Party s defense through separate counsel of the Indemnified Party's choice. Even if the Indemnifying Party assumes the defense of the Indemnified Party with acceptable counsel, that the Company shall notIndemnified Party, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings at its sole option, may participate in the same jurisdiction arising out defense, at its own expense, with counsel of its own choice without relieving the same general allegations Indemnifying Party of any of its obligations hereunder. In no event shall either Party be liable to the other Party for any indirect special, consequential, or circumstancespunitive damages of any kind whatsoever, be responsible hereunder for the reasonable fees whether in contract, tort or strict liability. 7.3 The Indemnifying Party's obligation to indemnify under this Section 7 shall survive termination of this Agreement, and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable limited in any way by any limitation on the amount or type of damages, compensation or benefits payable by or for the Indemnifying Party under any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In additionstatutory scheme, the Company will notincluding, without the prior written consent of Purchaserlimitation, settle under any Worker s Compensation Acts, Disability Benefit Acts or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceedingEmployee Benefit Acts. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 3 contracts

Sources: Energy Service Provider Service Agreement (Powersource Corp), Energy Service Provider Service Agreement (Powersource Corp), Energy Service Provider Service Agreement (Powersource Corp)

Indemnification. Except as otherwise provided in this Section 11, Seller (athe “Indemnifying Party”) The Company agrees to indemnify indemnify, defend and hold harmless Purchasereach of Buyer, its AffiliatesCompany and their Affiliates and their respective officers, and each Persondirectors, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partnersmanagers, agents, employees, officers subsidiaries, partners, members and Directors of Purchasercontrolling Persons (each, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, to the "Indemnified Parties"), fullest extent permitted by law from and against any and all losses, actions, suits, proceedings, claims, damagescomplaints, liabilities and expenses disputes, arbitrations or investigations or written threats thereof (collectively, “Claims”) (including, without limitation limitation, any Claim by a third party), damages, expenses (including reasonable fees, disbursements and other charges of counsel incurred by the Indemnified Party in any action between Seller and an Indemnified Party or between an Indemnified Party and any third party or otherwise) or other liabilities resulting from or arising out of any breach of any representation or warranty, covenant or agreement by Seller in this Agreement, or relating to any Excluded Liabilities (collectively, “Losses”). In connection with the obligation of Seller to indemnify for Losses as incurredset forth above, Seller shall, upon presentation of appropriate invoices containing reasonable costs detail, reimburse each Indemnified Party for all such Losses (including reasonable fees, disbursements and other charges of investigating, preparing counsel incurred by the Indemnified Party in any action between Seller and the Indemnified Party or defending between the Indemnified Party and any such claim or action, whether or not third party) as they are incurred by such Indemnified Party is Party. The Parties agree to treat indemnification payments under this Section 11.1 as adjustments to the Purchase Price for Tax purposes. If Seller contest a party theretoClaim by the Buyer against them, provided that the Company shall they will not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay responsible for paying the submitted invoice until either they agree as to the Company validity and amount of the costs so advanced if it should be determined Claim or the validity and amount of the Claim have been adjudicated by final judgment of an arbitration as provided in Section 13.6 or by a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment after exhaustion of all reasonable fees and expensesappeals. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company B▇▇▇▇ likewise agrees to indemnify indemnify, defend and hold harmless each of Seller and its Affiliates and their respective officers, directors, managers, agents, employees, subsidiaries, partners, members and controlling Persons (each, a “Seller Indemnified Party Party”) to the fullest extent permitted by law from and against any loss or liability and all Claims (including, without limitation, any Claim by reason a third party), damages, expenses (including reasonable fees, disbursements and other charges of settlement of counsel incurred by the Seller Indemnified Party in any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any between Buyer and a Seller Indemnified Party is or between a Seller Indemnified Party and any third party theretoor otherwise) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, liabilities resulting from all liability or arising out of such actionany breach of any representation or warranty, claimcovenant or agreement by Buyer in this Agreement, suit or proceeding. (c) If for any reason relating to operation of the foregoing indemnity is unavailable (otherwise than pursuant to Business after the express terms of such indemnity) to an Closing Date. An Indemnified Party or insufficient to hold an Seller Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute may each be referred to the amount paid or payable by such Indemnified Party herein as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other an Indemnified Party.

Appears in 3 contracts

Sources: Membership Interest Purchase Agreement (Scienture Holdings, Inc.), Membership Interest Purchase Agreement (TRxADE HEALTH, INC), Membership Interest Purchase Agreement (TRxADE HEALTH, INC)

Indemnification. (a) The Company agrees to indemnify Tenant shall indemnify, defend, and hold harmless PurchaserLandlord from any and all claims of liability asserted against Landlord and Landlord Parties by a third party, its Affiliatesincluding without limitation any agency or instrumentality of the federal, state, or local government, for bodily injury, including death of a person, physical damage to or loss of use of property, or cleanup activities (remedial or removal) arising out of or relating to the release, or threat of release, of a Hazardous Material existing at or emanating from the Premises, to the extent caused by Tenant or Tenant Parties during or prior to the Term of this Lease, or to the extent caused by any third party other than Landlord or Landlord Parties during the Term (provided, however, that Tenant shall have no indemnification obligations, and each Personno liability under this Lease, if anywith respect to the migration of any Hazardous Material on or under the Premises from adjacent properties). Other than those matters for which Tenant is obligated to indemnify Landlord, who controls PurchaserLandlord shall indemnify, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person")defend, and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), hold harmless Tenant from and against any and all lossesclaims of liability asserted against Tenant by a third party, claims, damages, liabilities and expenses (including, including without limitation and as incurredany agency or instrumentality of the federal, reasonable costs state, or local government, for bodily injury, including death of investigatinga person, preparing physical damage to or defending loss of use of property, or cleanup activities (remedial or removal) arising out of or relating to the release or threat of release of any such claim Hazardous Material existing at or action, whether emanating from the Premises to the extent caused by Landlord or not such Indemnified Party is a Landlord Parties during or after the Term of this Lease or to the extent caused by any third party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder Tenant or Tenant Parties with respect to such costs) which may the migration of any Hazardous Material on or under the Premises from adjacent properties. Neither party shall be incurred by such Indemnified Party in connection with any investigativerequired to indemnify, administrative defend or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any hold harmless the other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages Hazardous Material existing at or expenses that are determined by final judgment emanating from the Premises prior to the Term of this Lease due to the acts or omissions of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, third party; provided, however, that Landlord and Tenant each shall have the Company right (and each party shall not, reasonably cooperate with the other in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in that regard) to enforce for its own benefit the same jurisdiction arising out terms of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the environmental indemnification/remediation provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 or implemented pursuant to (ia) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination Agreement for Purchase and Sale of this Agreement Real Property and the other Transaction Agreements Joint Escrow Instructions between ▇▇▇▇▇▇ Healthcare Corporation and the payment in full of the Convertible Debentures Tenant dated March 12, 1996, and (iiib) shall remain operative Agreement for Purchase and in full force Sale of Real Property and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartyJoint Escrow Instructions between ▇▇▇▇▇▇ Healthcare Corporation and Tenant dated January 15, 1996 (collectively, the “Environmental Indemnity Agreements”) covering certain existing Hazardous Material contamination and remediation currently taking place at the Premises.

Appears in 3 contracts

Sources: Lease Agreement (St John Knits International Inc), Agreement for Purchase and Sale and Lease of Property (St John Knits International Inc), Lease Agreement (St John Knits International Inc)

Indemnification. (a) The Company agrees to indemnify From and after the Effective Time, each of Parent and the Surviving Corporation shall, jointly and severally, indemnify, defend and hold harmless Purchasereach Person who is now, its Affiliatesor has been at any time prior to the date of this Agreement or who becomes prior to the Effective Time, and each Personan officer, if any, who controls Purchaser, director or manager of the Company or any of its AffiliatesSubsidiaries or who acts as a fiduciary under any Company Stock Plan, within the meaning of the Securities Act or the Exchange Act (eachin each case, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any when acting in such Controlling Person capacity (each an "Indemnified Party") and collectivelyagainst all claims, the "Indemnified Parties"), from and against any and all losses, claimsliabilities, damages, liabilities judgments, fines and expenses (includingreasonable fees, without limitation costs and as incurredexpenses, reasonable costs of investigatingincluding attorneys’ fees and disbursements, preparing or defending incurred in connection with any such claim or claim, action, suit, proceeding or investigation, whether civil, criminal, administrative or not such investigative, arising out of or pertaining to the fact that the Indemnified Party is or was an officer, director or manager of the Company or any of its Subsidiaries or, while a party theretodirector, provided manager or officer of the Company or any of its Subsidiaries, is or was serving at the request of the Company or one of its Subsidiaries as an officer, director or manager of another Person, whether pertaining to any act or omission occurring or existing prior to or at, but not after the Effective Time and whether asserted or claimed prior to, at or after the Effective Time (“Indemnified Liabilities”), including all Indemnified Liabilities based in whole or in part on, or arising in whole or in part out of, or pertaining to, this Agreement or the transactions contemplated by this Agreement, in each case to the fullest extent that the Company shall not would have been permitted to do so by law. Each Indemnified Party will be obligated entitled to advance advancement of expenses (including attorneys’ fees) incurred in the defense of any such costs to claim, action, suit, proceeding or investigation from and each of Parent and the Surviving Corporation within 90 days of receipt by Parent or the Surviving Corporation from the Indemnified Party of a request therefor; provided that any Indemnified Party to whom expenses are to be advanced provides prior to any receipt of such advances an undertaking, to the extent required by the DGCL or other than Purchaser unless it has received from such Indemnified Party an undertaking applicable Law, to repay to the Company the costs so advanced such advances if it should be is determined by a final judgment determination of a court of competent jurisdiction (which determination is not subject to appeal) that such Indemnified Party was is not entitled to indemnification hereunder with respect under applicable Law. Parent, US Holdco and Merger Sub agree that all rights to such costs) which may be incurred indemnification, advancement of expenses, and exculpation by such the Company now existing in favor of each Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; as provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses Charter Documents of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which caseeach case as in effect on the date of this Agreement, if such Indemnified Party notifies or pursuant to any other Contracts in effect on the Company date hereof, shall be assumed by the Surviving Corporation in writing that it elects to employ separate counsel the Merger, without further action, at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees Effective Time and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement Merger and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless in accordance with their terms; provided that the Indemnified Party to whom expenses are advanced provides an undertaking to repay such expenses if it is ultimately determined that such Person is not entitled to indemnification. For a period of six (6) years from the Effective Time, the Surviving Corporation shall, and Parent shall cause the Surviving Corporation to, maintain in effect the exculpation, indemnification, and advancement of expenses no less favorable than the provisions of the Charter Documents of the Company as in effect immediately prior to the Effective Time with respect to acts or omissions by any Indemnified Party occurring prior to the Effective Time, and shall not amend, repeal, or otherwise modify any such provisions in any manner that would adversely affect the rights thereunder of any investigation made by or on behalf of Purchaser or any other Indemnified Party; provided that all rights to indemnification in respect of any claim made for indemnification within such period shall continue until the disposition of such action or resolution of such claim.

Appears in 3 contracts

Sources: Merger Agreement (Icon PLC), Merger Agreement (PRA Health Sciences, Inc.), Merger Agreement (Icon PLC)

Indemnification. Each Party (athe “Indemnitor”) The Company agrees to shall release, defend, indemnify and hold harmless Purchaserthe other party, its Affiliatesaffiliates, its contractors, and each Persontheir respective members, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agentsdirectors, officers, shareholders, managers, employees, officers agents and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), representatives from and against any and all losses, damages, fines, liens, levies, penalties, claims, damagesdemands, liabilities causes of action, suits, legal or administrative proceedings, orders, governmental actions and judgments of every kind and character, and any and all costs and expenses (including, without limitation and as incurredlimitation, reasonable costs of investigatingattorneys’ fees, preparing or defending any such claim or actionreasonable expert witness fees, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a and court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) related thereto (collectively, “Claims”) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises arise out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligenceor relate in any way, willful misconduct directly or bad faith. indirectly, to (a) a breach of this Agreement by the Indemnitor, or (b) If the acts or omissions hereunder of the Indemnitor or its affiliates, contractors, and their respective members, partners, directors, officers, shareholders, managers, employees, agents and representatives. Producer shall specifically defend, indemnify and hold Gavilon (and its respective Indemnitee Group) harmless from and against any action and all Claims asserted by third parties that arise from the condition or quality of the Product sold hereunder, except to the extent such Claims are the result of the acts or omissions of Gavilon, its agents or any third party following Delivery hereunder. The Party claiming indemnification shall be brought against an Indemnified Party with respect give prompt written notice to the Indemnitor of any matter for which indemnity the Indemnitor may be sought against the Company become liable under this Agreement, such Indemnified Party provision. Such notice shall promptly notify contain full details of the Company matter in writing order to provide the Indemnitor with sufficient information to assess its potential liability and to undertake defense of the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expensesClaim. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified indemnified Party shall have the right at all times to employ separate counsel in such action and participate in the defense thereof, but the fees preparation for and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement conducting of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees hearing, trial or other proceeding related to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3Section, as well as the aggregate contribution of right to appear on its own behalf at any such hearing, trial or other proceeding. Any such participation or appearance by the indemnified Party shall be at its sole cost and expense. The indemnified Party shall cooperate in all Indemnified Parties reasonable respects with the Indemnitor and its counsel in defending any Claims and shall not exceed take any action that is reasonably likely to be detrimental to such defense. The Indemnitor shall obtain written approval from the amount of interest and fees actually received by Purchaser pursuant indemnified Party prior to this Agreement. It is hereby further agreed any settlement that the relative benefits to the Company might impose obligations or restrictions on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified indemnified Party.

Appears in 3 contracts

Sources: Distiller’s Grain Off Take Agreement (Heron Lake BioEnergy, LLC), Distiller’s Grain Off Take Agreement (Lincolnway Energy, LLC), Distiller’s Grain Off Take Agreement (Heron Lake BioEnergy, LLC)

Indemnification. (ai) The Company agrees to shall reimburse, indemnify and hold harmless Purchaserthe Advisor Parties, its Affiliates, to the fullest and each Person, if any, who controls Purchaser, or any broadest extent permitted by law and under the Company’s Articles of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), Incorporation and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties")Bylaws, from and against any and all losses, claims, damages, liabilities liabilities, costs and expenses of any nature whatsoever, including, without limitation, attorney’s fees, court costs, and similar fees and expenses (including“Expenses”) with respect to or arising out of this Agreement or the performance by the Advisor of its responsibilities and obligations hereunder (including any pending or threatened litigation except for any Proceeding filed by a member or manager of the Advisor against the Advisor), without limitation from any acts or omission of the Advisor (including ordinary negligence and any action taken by the Advisor following a directive by the Board of Directors in its capacity as incurredsuch), reasonable costs except with respect to Expenses with respect to or arising out of investigatingthe Advisor Party’s gross negligence, preparing bad faith or defending willful misconduct, or reckless disregard of its duties under this Agreement; provided, however, that to the extent an Advisor Party actually recovers insurance proceeds with respect to any matter for which the Advisor Party is entitled to indemnification, then the amount payable to such claim Advisor Party under this Section 15.03 in respect of such matter shall be reduced by the amount of such recovered insurance proceeds. (ii) The Advisor shall reimburse, indemnify and hold harmless the Company, to the fullest and broadest extent permitted by law, from and against any and all Expenses in respect of or actionarising from any acts or omissions of the Advisor constituting bad faith, whether willful misconduct, gross negligence or not reckless disregard of duties of the Advisor under this Agreement; provided, however, that to the extent the Company actually recovers insurance proceeds with respect to any matter for which the Company is entitled to indemnification, then the amount payable to the Company under this Section 15.03 in respect of such matter shall be reduced by the amount of such recovered insurance proceeds. (iii) Promptly after receipt by an Advisor Party or the Company (an Advisor Party and the Company are each sometimes hereinafter referred to as an “Indemnified Party”) of notice of the commencement (or threat of commencement) of any Proceeding, the Indemnified Party shall, if a claim in respect thereof is a to be made pursuant hereto, notify the indemnifying party thereto, provided that in writing of the Company commencement thereof; but the omission to so notify the indemnifying party shall not be obligated to advance such costs relieve it from any liability that it may have to any Indemnified Party other than Purchaser unless pursuant to this Section 15.03. In case any such Proceeding shall be brought against an Indemnified Party and it has received from shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it shall wish, to assume the defense thereof, with counsel satisfactory to such Indemnified Party an undertaking and, after notice from the indemnifying party to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was of the indemnifying party’s election to assume the defense thereof, the indemnifying party shall not entitled to indemnification hereunder with respect be liable to such costs) which may be Indemnified Party under Section 15.03 hereof, as applicable, for any legal expenses of other counsel retained by the Indemnified Party or any of the expenses related thereto, in each case subsequently incurred by such Indemnified Party, unless (a) the indemnifying party and the Indemnified Party shall have mutually agreed to the retention of such counsel, or (b) the named parties to any such Proceeding (including any impleaded parties) include both the indemnifying party and Indemnified Party and representation of both parties by the same counsel would be inappropriate in connection with the reasonable opinion of the Indemnified Party, due to actual or potential differing interests between them. The obligations of the indemnifying party under this Section 15.03 shall be in addition to any investigative, administrative liability which the indemnifying party otherwise may have under applicable law or judicial proceeding brought otherwise. (iv) The Company shall advance funds to an Advisor Party upon request for any expenses and other costs incurred as a result of any pending or threatened that Proceeding or the initiation of a Proceeding by any Advisor Party if (a) such Proceeding relates to or arises out of, or is alleged to relate to or arise out of or has been caused or alleged to have been caused in connection with whole or in part by, any activities contemplated by action or inaction on the part of the Advisor Party in the performance of its duties or provision of its services hereunder; and (b) the Advisor Party undertakes to repay any Transaction Agreement or any other services rendered funds advanced pursuant to this Section 15.03(iv) in connection herewith; provided that cases in which such Advisor Party would not be entitled to indemnification under this Section 15.03. If advances are required under this Section 15.03(iv), the Advisor Party shall furnish the Company will not be responsible with an undertaking as set forth in clause (b) of the preceding sentence and shall thereafter have the right to ▇▇▇▇ the Company for, or otherwise require the Company to pay, at any time and from time to time after such Advisor Party shall become obligated to make payment therefor, any and all reasonable amounts for any claimswhich such Advisor Party is entitled to indemnification under Section 15.03, liabilities, losses, damages or expenses and the Company shall pay the same within thirty (30) days after request for payment. In the event that are determined a determination is made by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless arbitrator that the Company is materially adversely affected not so obligated in respect of any amount paid by it to a particular Advisor Party, such failure. Such Indemnified Advisor Party shall have the right to employ separate counsel in will refund such action amount within thirty (30) days of such determination, and participate in the defense thereof, but the fees and expenses event that a determination by a court of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel competent jurisdiction or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, an arbitrator is made that the Company shall not, is so obligated in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition respect to any local counsel, which counsel shall be designated amount not paid by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In additiona particular Advisor Party, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent pay such amount to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder such Advisor Party within thirty (whether or not any Indemnified Party is a party thereto30) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out days of such action, claim, suit or proceedingfinal determination. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 3 contracts

Sources: Advisory Agreement (KBS Real Estate Investment Trust II, Inc.), Advisory Agreement (KBS Real Estate Investment Trust II, Inc.), Advisory Agreement (KBS Real Estate Investment Trust II, Inc.)

Indemnification. (a) The Company From and after the Effective Time through the sixth anniversary of the Effective Date, RCFC (and any successor) agrees to indemnify and hold harmless Purchasereach present and former director, officer and employee of Bayonne and its Affiliates, Subsidiaries and each Person, if any, who controls Purchaser, officer or any employee of Bayonne and its Affiliates, within the meaning Subsidiaries that is serving or has served as a director or trustee of the Securities Act another entity expressly at Bayonne's request or the Exchange Act direction (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all costs or expenses (including reasonable attorneys' fees), judgments, fines, amount paid in settlement, losses, claims, damagesdamages or liabilities (collectively, liabilities "Costs") incurred in connection with any claim, action, suit, proceeding or investigation, whether civil, criminal, administrative or investigative, arising out of matters existing or occurring at or prior to the Effective Time (including the transactions contemplated by this Agreement), whether asserted or claimed prior to, at or after the Effective Time, and expenses (including, without limitation and to advance any such Costs to each Indemnified Party as they are from time to time incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not in each case to the fullest extent such Indemnified Party is would have been indemnified as a party theretodirector, provided that officer or employee of Bayonne and its Subsidiaries and as then permitted under the Company DGCL. (b) Any Indemnified Party wishing to claim indemnification under Section 4.14(a), upon learning of any such claim, action, suit, proceeding or investigation, shall promptly notify RCFC thereof, but the failure to so notify shall not relieve RCFC of any liability it may have hereunder to such Indemnified Party if such failure does not materially and substantially prejudice the indemnifying party. In the event of any such claim, action, suit, proceeding or investigation, (i) RCFC shall have the right to assume the defense thereof with counsel reasonably acceptable to the Indemnified Party and RCFC shall not be obligated liable to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment for any legal expenses of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be other counsel subsequently incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including except that if RCFC does not elect to assume such defense within a reasonable time or counsel for the employment Indemnified Party at any time advises that there are issues which raise conflicts of interest between RCFC and the Indemnified Party (and counsel reasonably for RCFC does not disagree), the Indemnified Party may retain counsel satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party RCFC shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be remain responsible hereunder for the reasonable fees and expenses of more than such counsel as set forth above, to be paid promptly as statements therefor are received; provided, however, that RCFC shall be obligated pursuant to this paragraph (b) to pay for only one such firm of separate counsel, counsel for all Indemnified Parties in addition any one jurisdiction with respect to any local counselgiven claim, which action, suit, proceeding or investigation unless the use of one counsel shall be designated by Purchaser. The Company for such Indemnified Parties would present such counsel with a conflict of interest; (ii) the Indemnified Party will reasonably cooperate in the defense of any such matter; and (iii) RCFC shall not be liable for any settlement of any such action effected by an Indemnified Party without the its prior written consent, which consent of the Company (which shall may not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) withheld unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory settlement is unreasonable in form and substance to Purchaser, from all liability arising out light of such actionclaims, claimactions, suit suits, proceedings or proceedinginvestigations against, or defenses available to, such Indemnified Party. (c) If RCFC shall pay all reasonable Costs, including attorneys' fees, that may be incurred by any Indemnified Party in successfully enforcing the indemnity and other obligations provided for any reason the foregoing indemnity is unavailable (otherwise than pursuant in this Section 4.14 to the express terms fullest extent permitted under the DGCL. The rights of such indemnity) to an each Indemnified Party or insufficient hereunder shall be in addition to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by any other rights such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted may have under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnificationRCFC shall maintain Bayonne's existing directors and officers' insurance policy (or provide a policy providing comparable coverage and amounts on terms no less favorable to the persons currently covered by Bayonne's existing policy, contribution including RCFC's existing policy if its meets the foregoing standard) covering persons who are currently covered by such insurance for a period of 3 years after the effective date. (e) In the event RCFC or any of its successors or assigns (i) consolidates with or merges into any other person or entity and expense reimbursement shall not be the continuing or surviving corporation or entity of such consolidation or merger, or (ii) transfers or conveys all or substantially all of its properties and assets to any person or entity, then, and in each such case, to the extent necessary, proper provision shall be made so that the successors and assigns of RCFC assume the obligations set forth in this Section 13.3 4.14. (if) The provisions of this Section 4.14 are intended to be for the benefit of, and shall be in addition to any liability the Company may have to any enforceable by, each Indemnified Party at common law and his or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Partyher representatives.

Appears in 3 contracts

Sources: Merger Agreement (Richmond County Financial Corp), Agreement and Plan of Merger (Richmond County Financial Corp), Merger Agreement (Richmond County Financial Corp)

Indemnification. (a) The Company agrees to indemnify indemnify, defend and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), Purchaser and the Purchaser’s Affiliates and their respective partnersofficers, managers, directors, agents, employees, officers subsidiaries, partners, members and Directors of Purchasercontrolling persons (each, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, to the "Indemnified Parties"), fullest extent permitted by law from and against any and all losses, claims, damages, liabilities and expenses Claims (including, without limitation limitation, any Claim by a third party), damages, expenses (including reasonable fees, disbursements and as incurred, reasonable costs other charges of investigating, preparing counsel incurred by the Indemnified Party in any action between the Company and the Indemnified Party or defending between the Indemnified Party and any such claim or action, whether or not third party (other than a third party who is an Affiliate of such Indemnified Party is a party theretoParty) or otherwise in the manner described in Section 8.2 below) or other liabilities (collectively, provided that “Losses”) resulting from or arising out of any breach of any representation or warranty, covenant or agreement by the Company shall not be obligated in this Agreement (subject to advance the expiration of the survival of such costs representations and warranties, as provided in Section 10.1). In connection with the obligation of the Company to any indemnify for expenses as set forth above, the Company shall, upon presentation of appropriate invoices containing reasonable detail, reimburse each Indemnified Party for all such expenses (including reasonable fees, disbursements and other charges of counsel incurred by the Indemnified Party in any action between the Company and the Indemnified Party or between the Indemnified Party and any third party (other than Purchaser unless it has received from a third party who is an Affiliate of such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costsParty) which may be as they are incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, extent so provided in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, Section 8.2 below; provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any if an Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If reimbursed under this Article VIII for any reason the foregoing indemnity is unavailable (otherwise than pursuant expenses, such reimbursement of expenses shall be refunded to the express terms of such indemnity) to an extent it is finally judicially determined that the Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationindemnification hereunder. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 3 contracts

Sources: Stock and Warrant Purchase Agreement (Healthaxis Inc), Stock and Warrant Purchase Agreement (Tak Sharad Kumar), Stock and Warrant Purchase Agreement (Healthaxis Inc)

Indemnification. (a) The Company agrees to indemnify From and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within after the meaning Effective Time through the sixth anniversary of the Securities Act or the Exchange Act (eachEffective Time, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company MCBF agrees to indemnify and hold harmless each present and former director and officer of MSB and its Subsidiaries and each officer or employee of MSB and its Subsidiaries that is serving or has served as a director or trustee of another entity expressly at MSB’s request or direction (each, an “Indemnified Party from and Party”), against any loss costs or liability by reason of settlement of expenses (including reasonable attorneys’ fees), judgments, fines, amounts paid in settlement, losses, claims, damages or liabilities incurred in connection with any action effected with the consent of the Company. In additionclaim, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claimsuit, suit proceeding or proceeding in respect to which indemnification investigation, whether civil, criminal, administrative or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlementinvestigative, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of matters existing or occurring at or prior to the Effective Time (including the transactions contemplated by this Agreement), whether asserted or claimed prior to, at or after the Effective Time, as they are from time to time incurred, in each case to the fullest extent such person would have been indemnified or have the right to advancement of expenses pursuant to MSB’s articles of incorporation and bylaws as in effect on the date of this Agreement and to the fullest extent permitted by law. (b) Any Indemnified Party wishing to claim indemnification under Section 5.13(a), upon learning of any such claim, action, claimsuit, suit proceeding or proceedinginvestigation, shall promptly notify MCBF thereof, but the failure to so notify shall not relieve MCBF of any liability it may have hereunder to such Indemnified Party if such failure does not materially and substantially prejudice MCBF. (c) If for any reason MCBF shall maintain MSB’s existing directors’ and officers’ liability insurance policy (or provide a policy providing comparable coverage and amounts on terms no less favorable to the persons currently covered by MSB’s existing policy, including MCBF’s existing policy if it meets the foregoing indemnity is unavailable (otherwise than standard) covering persons who are currently covered by such insurance for a period of three years after the Effective Time; provided, however, that in no event shall MCBF be obligated to expend, in order to maintain or provide insurance coverage pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.35.13(c), the aggregate contribution an amount per annum in excess of all Indemnified Parties shall not exceed 150% of the amount of interest and fees actually received the annual premiums paid by Purchaser pursuant MSB as of the date hereof for such insurance (“Maximum Insurance Amount”); provided further, that if the amount of the annual premiums necessary to this Agreement. It is hereby further agreed that maintain or procure such insurance coverage exceeds the relative benefits Maximum Insurance Amount, MCBF shall obtain the most advantageous coverage obtainable for an annual premium equal to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationMaximum Insurance Amount. (d) The indemnificationIn the event MCBF or any of its successors or assigns (i) consolidates with or merges into any other person or entity and shall not be the continuing or surviving corporation or entity of such consolidation or merger or (ii) transfers or conveys all or substantially all of its properties and assets to any person or entity, contribution then, and expense reimbursement in each such case, to the extent necessary, proper provision shall be made so that the successors and assigns of MCBF assume the obligations set forth in this Section 13.3 5.13. (ie) The provisions of this Section 5.13 are intended to be for the benefit of, and shall be in addition to any liability the Company may have to any enforceable by, each Indemnified Party at common law and his or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Partyher representatives.

Appears in 3 contracts

Sources: Agreement and Plan of Merger (MSB Financial Inc), Agreement and Plan of Merger (Monarch Community Bancorp Inc), Merger Agreement (Monarch Community Bancorp Inc)

Indemnification. Each party required to deliver an Assessment of Compliance and an Accountant’s Attestation and/or an Item 1123 Certification under Article XIV (aeach, a “Responsible Party) The Company agrees to shall indemnify and hold harmless Purchaserthe Trust Administrator, its Affiliates, the Master Servicer and the Depositor and each Personof their directors, if anyofficers, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partnersemployees, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), affiliates from and against any and all claims, losses, claims, damages, liabilities penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses arising out of or based upon (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending a) any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred breach by such Indemnified Responsible Party of any if its obligations under this Article XIV including particularly its obligation to provide any Back-Up Certification, any Assessment of Compliance and an Accountant’s Attestation and/or an Item 1123 Certification or any information, data or materials required to be included in any 1934 Act report,, (b) any misstatement or omission in any information, data or materials provided by such Responsible Party (or, in the case of the Trust Administrator or Master Servicer, any material misstatement or material omission in (i) any 1123 Certification, Assessment of Compliance or Accountant’s Attestation delivered by it, or by any Servicing Function Participant engaged by it, pursuant to this Agreement or (ii) any additional Form 10-D, Form 10-K or Form 8-K disclosure concerning the Master Servicer or the Trust Administrator, or (c) the negligence, bad faith or willful misconduct of such Responsible Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement performance of any such action effected without if its obligations hereunder. If the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If provided for any reason the foregoing indemnity herein is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmlessharmless the Master Servicer, the Trust Administrator or the Depositor, then in lieu of indemnifying such Indemnified Party, the Company each Responsible Party agrees that it shall contribute to the amount paid or payable by such Indemnified Party Trust Administrator, the Master Servicer or the Depositor, as applicable, as a result of such any claims, liabilities, losses, damagesdamages or liabilities incurred by the Master Servicer, the Trust Administrator or expenses (i) the Depositor, as applicable, in such proportion as is appropriate to reflect the relative benefits received by fault of Trust Administrator or the Company Depositor, as applicable, on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable lawsuch Responsible Party, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) This indemnification shall survive the termination of this Agreement and or the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless termination of any investigation made by or on behalf of Purchaser or any other Indemnified Partyparty to this Agreement.

Appears in 3 contracts

Sources: Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2006-6), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust Series 2006-4), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust Series 2006-5)

Indemnification. (a) The Subject to the provisions of this Section 4.9, the Company agrees to will indemnify and hold each Purchaser Party harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending Losses that any such claim Purchaser Party may suffer or actionincur as a result of or relating to any breach of any of the representations, whether warranties, covenants or not such Indemnified Party is a party thereto, provided that agreements made by the Company shall not be obligated to advance in this Agreement or in the other Transaction Documents (a “Covered Action”) (unless such costs to action is based upon a material breach of such Purchaser Party’s representations, warranties or covenants under the Transaction Documents or any Indemnified agreements or understandings such Purchaser Party other than Purchaser unless it has received from may have with any such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred stockholder or any violations by such Indemnified Purchaser Party in connection with any investigative, administrative of state or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement federal securities laws or any other services rendered in connection herewith; provided that the Company will not be responsible for any claimsconduct by such Purchaser Party which is finally judicially determined to constitute fraud, liabilities, losses, damages gross negligence or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faithmisconduct). (b) If any action Covered Action shall be brought against an Indemnified any Purchaser Party with in respect to of which indemnity may be sought against the Company under pursuant to this Agreement, such Indemnified Purchaser Party shall promptly notify the Company in writing writing, and the Company, at its option, may, Company shall have the right to assume the defense thereof, including the employment thereof with counsel of counsel its own choosing reasonably satisfactory acceptable to such Indemnified Party and payment of all reasonable fees and expensesPurchaser Party. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Any Purchaser Party shall have the right to employ separate counsel in any such action Covered Action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless Purchaser Party except to the extent that (i) the employment thereof has been specifically authorized by the Company in writing, (ii) the Company has failed after a reasonable period of time to assume the such defense and to employ counsel or (iiiii) in such Covered Action there is, in the named parties to reasonable opinion of counsel, a material conflict on any such action (including any impleaded parties) include such Indemnified Party material issue between the position of the Company and the Company, and position of such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the CompanyPurchaser Party, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, case the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of no more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall will not be liable to any Purchaser Party under this Agreement (y) for any settlement of any such action by an Purchaser Party effected without the Company’s prior written consent of the Company (consent, which shall not be unreasonably withheldwithheld or delayed; or (z) and to the Company agrees extent, but only to indemnify and hold harmless each Indemnified Party from and against any loss the extent that a loss, claim, damage or liability by reason of settlement is attributable to any Purchaser Party’s willful misconduct, gross negligence or breach of any action effected with the consent of the Companyrepresentations, warranties, covenants or agreements made by such Purchaser Party in this Agreement or in the other Transaction Documents. In addition, the The Company will shall not, without the prior written consent of Purchaserthe Purchaser Party (which consent shall not be unreasonably withheld), settle or compromise or consent to the entry of any judgment in or otherwise seek enter into any settlement or other compromise which does not include as an unconditional term thereof the giving by the claimant or plaintiff to terminate any pending or threatened action, claim, suit or proceeding such Purchaser Party of a release from all liability in respect to which indemnification or contribution may be sought hereunder (whether or such Covered Action, and such settlement shall not include any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and admission as to fault on the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out part of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms Purchaser Party. The indemnification required by this Section 4.9 shall be made by periodic payments of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect thereof during the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault course of the Company investigation or defense, as and Purchaser as well as any other relevant equitable considerationswhen bills are received or are incurred. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) indemnity agreements contained herein shall be in addition to any liability cause of action or similar right of any Purchaser Party against the Company or others and any liabilities the Company may have be subject to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Partypursuant to law.

Appears in 3 contracts

Sources: Securities Purchase Agreement (USA Rare Earth, Inc.), Securities Purchase Agreement (USA Rare Earth, Inc.), Securities Purchase Agreement (USA Rare Earth, Inc.)

Indemnification. (a) The Company agrees To the fullest extent permitted by law, the Fund shall, subject to Section 6(c) of this Agreement, indemnify the Indemnified Parties against, and hold them harmless Purchaserfrom, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities liabilities, costs and expenses (includingarising by reason of being or having been Administrator to the Fund, without limitation and as incurredor the past or present performance of services to the Fund in accordance with this Agreement by the Indemnified Party, reasonable costs of investigatingexcept to the extent that the loss, preparing claim, damage, liability, cost or defending expense has been finally determined in a judicial decision on the merits from which no further appeal may be taken in any such claim or action, suit, investigation or other proceeding to have been incurred or suffered by the Indemnified Party by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of the Indemnified Party’s office. These losses, claims, damages, liabilities, costs and expenses include, but are not limited to, amounts paid in satisfaction of judgments, in compromise, or as fines or penalties, and counsel fees and expenses, incurred in connection with the defense or disposition of any action, suit, investigation or other proceeding, whether civil or not criminal, before any judicial, arbitral, administrative or legislative body, in which the Indemnified Party may be or may have been involved as a party or otherwise, or with which such Indemnified Party is a party theretomay be or may have been threatened, while in office or thereafter. The rights of indemnification provided that the Company shall under this Section 6 are not to be obligated construed so as to advance such costs to any provide for indemnification of an Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay for any liability (including liability under U.S. federal securities laws which, under certain circumstances, impose liability even on persons that act in good faith) to the Company extent (but only to the costs extent) that indemnification would be in violation of applicable law, but shall be construed so advanced if it should be determined by final judgment as to effectuate the applicable provisions of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faiththis Section 6. (b) If Expenses, including counsel fees and expenses, incurred by any action shall be brought against an Indemnified Party with respect to which indemnity (but excluding amounts paid in satisfaction of judgments, in compromise, or as fines or penalties) may be sought against paid from time to time by the Company Fund in advance of the final disposition of any action, suit, investigation or other proceeding upon receipt of an undertaking by or on behalf of the Indemnified Party to repay to the Fund amounts paid if a determination is made that indemnification of the expenses is not authorized under Section 6(a) of this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless long as (i) the Company Indemnified Party provides security for the undertaking; (ii) the Fund is insured by or on behalf of the Indemnified Party against losses arising by reason of the Indemnified Party’s failure to fulfill his, her or its undertaking, or (iii) a quorum of the Independent Trustees (excluding any Trustee who is or has failed been a party to assume any other action, suit, investigation or other proceeding involving claims similar to those involved in the defense action, suit, investigation or proceeding giving rise to a claim for advancement of expenses under this Agreement), or independent legal counsel, in a written opinion, determines, based on a review of facts readily available to the Fund at the time the advance is proposed to be made, that there is reason to believe that the Indemnified Party will ultimately be found to be entitled to indemnification. (c) As to the disposition of any action, suit, investigation or other proceeding (whether by a compromise payment, pursuant to a consent decree or otherwise) without an adjudication or a decision on the merits by a court, or by any other body before which the proceeding has been brought, that an Indemnified Party is liable to the Fund or its Stockholders by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of the Indemnified Party’s office, indemnification shall be provided in accordance with Section 6(a) of this Agreement if: (i) approved as in the best interests of the Fund by a majority of the Independent Trustees (excluding any Trustee who is or has been a party to any other action, suit, investigation or other proceeding involving claims similar to those involved in the action, suit, investigation or proceeding giving rise to a claim for indemnification under this Agreement) upon a determination based upon a review of readily available facts (as opposed to a full trial-type inquiry) that the Indemnified Party acted in good faith and employ counsel in the reasonable belief that the actions were in the best interests of the Fund and that the Indemnified Party is not liable to the Fund or its Stockholders by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of the Indemnified Party’s office or (ii) the named parties Board of Trustees secures a written opinion of independent legal counsel based upon a review of readily available facts (as opposed to any such action (including any impleaded partiesa full trial-type inquiry) include such to the effect that indemnification would not protect the Indemnified Party and against any liability to the Company, and such Fund or its Stockholders to which the Indemnified Party shall have been advised by counsel that there may would otherwise be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability subject by reason of settlement of any action effected with the consent willful misfeasance, bad faith, gross negligence, or reckless disregard of the Company. In addition, duties involved in the Company will not, without conduct of the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation’s office. (d) The indemnificationAny indemnification or advancement of expenses made in accordance with this Section 6 shall not prevent the recovery from any Indemnified Party of any amount if the Indemnified Party subsequently is determined in a final judicial decision on the merits in any action, contribution suit, investigation or proceeding involving the liability or expense that gave rise to the indemnification or advancement of expenses to be liable to the Fund or its Stockholders by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of the Indemnified Party’s office. In any suit brought by an Indemnified Party to enforce a right to indemnification under this Section 6 it shall be a defense that, and expense reimbursement obligations set forth in any suit in the name of the Fund to recover any indemnification or advancement of expenses made in accordance with this Section 6 the Fund shall be entitled to recover the expenses upon a final adjudication from which no further right of appeal may be taken that, the Indemnified Party has not met the applicable standard of conduct described in this Section 13.3 (i) 6. In any suit brought to enforce a right to indemnification or to recover any indemnification or advancement of expenses made in accordance with this Section 6, the burden of proving that the Indemnified Party is not entitled to be indemnified, or to any indemnification or advancement of expenses, under this Section 6 shall be in addition to on the Fund (or on any liability the Company may have to any Indemnified Party at common law Stockholder acting derivatively or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or otherwise on behalf of Purchaser the Fund or its Stockholders). (e) An Indemnified Party may not satisfy any right of indemnification or advancement of expenses granted in this Section 6 or to which he, she or it may otherwise be entitled except out of the assets of the Fund, and no Stockholder shall be personally liable with respect to any such claim for indemnification or advancement of expenses. (f) The rights of indemnification provided in this Section 6 shall not be exclusive of or affect any other rights to which any person may be entitled by contract or otherwise under law. Nothing contained in this Section 6 shall affect the power of the Fund to purchase and maintain liability insurance on behalf of the Administrator or any other Indemnified Party.

Appears in 3 contracts

Sources: Administration Agreement (KKR Enhanced US Direct Lending Fund-L), Administration Agreement (KKR US Direct Lending Fund-U), Administration Agreement (KKR Asset-Based Income Fund)

Indemnification. (a) The Company Borrower agrees to indemnify and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within defend (with counsel satisfactory to the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"Bank), and the respective partnersindemnify, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In additionand all liabilities, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilitiesobligations, losses, damages, penalties, actions, judgments, suits, claims, costs, expenses and distributions of any kind or expenses nature (iincluding the disbursements and the reasonable fees of counsel for each Indemnified Party thereto, which shall also include, without limitation, reasonable attorneys’ fees), which may be imposed on, incurred by, or asserted against, any Indemnified Party (whether direct, indirect or consequential and whether based on any federal, state or local laws or regulations, including securities laws, Environmental Laws, commercial laws and regulations, under common law or in equity, or based on contract or otherwise) in such proportion as is appropriate any manner relating to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by or arising out of this Agreement or (ii) if any of the allocation provided Loan Documents, or any act, event or transaction related or attendant thereto, the use or intended use of the proceeds of the Loans, the enforcement of the Bank’s rights and remedies under this Agreement, the Loan Documents, any Note, any other instruments and documents delivered hereunder; provided, however, that the Borrower shall not have any obligations hereunder to any Indemnified Party with respect to matters determined by clause (i) is not a court of competent jurisdiction by final and nonappealable judgment to have been caused by or resulting from the willful misconduct or gross negligence of such Indemnified Party. To the extent that the undertaking to indemnify set forth in the preceding sentence may be unenforceable because it violates any law or public policy, the Borrower shall satisfy such undertaking to the maximum extent permitted under by applicable law. Any liability, in such proportion as is appropriate obligation, loss, damage, penalty, cost or expense covered by this indemnity shall be paid to reflect not only each Indemnified Party on demand, and failing prompt payment, together with interest thereon at the relative benefits received Default Rate from the date incurred by each Indemnified Party until paid by the Company on Borrower, shall be added to the one hand and Purchaser on the other, but also the relative fault Obligations of the Company Borrower and Purchaser as well as any other relevant equitable considerationsbe secured by the Collateral. Notwithstanding the The provisions of this Section 13.3, shall survive the aggregate contribution satisfaction and payment of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser Obligations and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartyAgreement.

Appears in 3 contracts

Sources: Loan and Security Agreement (CHS Inc), Loan and Security Agreement (US BioEnergy CORP), Loan and Security Agreement (US BioEnergy CORP)

Indemnification. 7.1 To the fullest extent permitted by law, and subject to the limitations set forth in Section 6 of this Agreement, each Party (athe "Indemnifying Party") The Company agrees to shall indemnify and hold harmless Purchaser, its Affiliatesthe other Party, and each Personits current and future direct and indirect parent companies, if anyaffiliates and their shareholders, who controls Purchaserofficers, or any of its Affiliatesdirectors, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partnersemployees, agents, employeesservants and assigns (collectively, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an the "Indemnified Party") and collectivelyat the Indemnified Party's option, the "Indemnifying Party shall defend the Indemnified Parties"), Party from and against any and all claims and/or liabilities for losses, claimsexpenses, damagesdamage to property, liabilities and expenses (injury to or death of any person, including, without limitation but not limited to, the Indemnified Party's employees and as incurredits affiliates employees, subcontractors and subcontractors employees, or any other liability incurred by the Indemnified Party, including reasonable costs expenses, legal and otherwise, which shall include reasonable attorneys' fees, caused wholly or in part by any negligent, grossly negligent or willful act or omission by the Indemnifying Party, its officers, directors, employees, agents or assigns arising out of investigatingthis Agreement, preparing except to the extent caused wholly or defending in part by any such negligent, grossly negligent or willful act or omission of the Indemnified Party. 7.2 If any claim or actioncovered by Section 7.1 is brought against the Indemnified Party, whether or not such then the Indemnifying Party shall be entitled to participate in, and unless in the opinion of counsel for the Indemnified Party is a party thereto, provided that conflict of interest between the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder Parties may exist with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigativeclaim, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf claim, with counsel reasonably acceptable to the Indemnified Party. If the Indemnifying Party does not assume the defense of such the Indemnified Party, providedor if a conflict precludes the Indemnifying Party from assuming the defense, howeverthen the Indemnifying Party shall reimburse the Indemnified Party on a monthly basis for the Indemnified Party's defense through separate counsel of the Indemnified Party's choice. Even if the Indemnifying Party assumes the defense of the Indemnified Party with acceptable counsel, that the Company shall notIndemnified Party, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings at its sole option, may participate in the same jurisdiction arising out defense, at its own expense, with counsel of its own choice without relieving the same general allegations Indemnifying Party of any of its obligations hereunder. In no event shall either Party be liable to the other Party for any indirect, special, consequential, or circumstancespunitive damages of any kind whatsoever, be responsible hereunder for the reasonable fees whether in contract, tort or strict liability. 7.3 The Indemnifying Party's obligation to indemnify under this Section 7 shall survive termination of this Agreement, and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable limited in any way by any limitation on the amount or type of damages, compensation or benefits payable by or for the Indemnifying Party under any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In additionstatutory scheme, the Company will notincluding, without the prior written consent of Purchaserlimitation, settle under any Worker's Compensation Acts, Disability Benefit Acts or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceedingEmployee Benefit Acts. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 3 contracts

Sources: Energy Service Provider Service Agreement (Powersource Corp), Energy Service Provider Service Agreement (Powersource Corp), Energy Service Provider Service Agreement (Powersource Corp)

Indemnification. (a) The Company agrees to indemnify A. To the fullest extent permitted by law, for work or services provided under this Agreement, Contractor shall indemnify, defend, and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), DISTRICT and the County of Sacramento, their respective partnersgoverning and advisory Boards, agents(emphasis added for clarity) officers, directors, officials, employees, officers and Directors of Purchaser, their Affiliates authorized volunteers and any such Controlling Person agents (each an "Indemnified Party") and collectively, the "collectively “Indemnified Parties"), from and against any and all claims, demands, actions, losses, claimsliabilities, damages, liabilities and all expenses and costs incidental thereto (includingcollectively “Claims”), without limitation including cost of defense, settlement, arbitration, and as incurredreasonable attorneys' fees, reasonable costs resulting from injuries to or death of investigatingpersons, preparing including but not limited to employees of either Party hereto, and damage to or defending any such claim destruction of property, or actionloss of use or reduction in value thereof, whether or including but not such limited to the property of either Party hereto, and recovery of monetary losses incurred by an Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay directly attributable to the Company the costs so advanced if it should be determined by final judgment performance of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigativeContractor, administrative or judicial proceeding brought or threatened that relates to or arises arising out of, pertaining to, or is in connection with relating to the negligence, recklessness, or willful misconduct of Contractor, its employees, Contractor’s subconsultants or subcontractors at any activities contemplated by any Transaction Agreement tier, or any other services rendered in connection herewith; provided that the Company will not be responsible party for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faithwhich Contractor is legally liable under law. (b) If any action B. The right to defense and indemnity under this Section shall initiate upon occurrence of an event giving rise to a Claim and, thereafter, upon tender in writing to Contractor. Contractor shall defend Indemnified Parties with counsel reasonably acceptable to County. Notwithstanding the foregoing, County shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreemententitled, such Indemnified Party shall promptly notify the Company in writing on its own behalf, and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Contractor, to assume control of its defense or the defense of any Indemnified Party in any legal action, with counsel reasonably selected by it. Should County elect to initially assume control of its defense, or the defense of any Indemnified Party, unless (i) the Company has failed it does so without prejudice to its right to subsequently request that Contractor thereafter assume control of the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the pay all reasonable attorneys’ fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company costs incurred thereby. C. This indemnity obligation shall not be liable for limited by the types and amounts of insurance or self-insurance maintained by Contractor or Contractor’s subconsultants or subcontractors at any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceedingtier. (c) If for D. Nothing in this Indemnity obligation shall be construed to create any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms duty to, any standard of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damagescare with reference to, or expenses (i) in such proportion as is appropriate any liability or obligation, contractual or otherwise, to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the third party. E. The provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) Indemnity obligation shall survive the expiration or termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartyAgreement.

Appears in 3 contracts

Sources: Aquatic Slide Resurfacing Agreement, Audit Services Agreement, Audit Services Agreement

Indemnification. 13.1 Any claim, suit, loss, judgment, damages, fines or expenses (ahereinafter collectively referred to as a “Loss”) The Company agrees to indemnify and hold harmless Purchasersustained by Party B, its Affiliatesdirectors, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agentsofficers, employees, officers and Directors agents or representatives (hereinafter collectively referred to as “Indemnified Parties”) in the performance of Purchasertheir duties under this Agreement, their Affiliates and shall be fully indemnified by Party A. Party A shall hold each Indemnified Party harmless against any such Controlling Person (each an "Loss and/or liability, unless it is finally determined through legal or administrative procedures or consultations between Party A and Party B that such Loss and/or liability is caused due to the fault of such Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or . 13.2 Notwithstanding any other services rendered in connection herewith; provided that the Company will provision of this Agreement, Indemnified Parties shall not be responsible for any claims, liabilities, losses, damages loss of Party A or expenses that are determined any third party caused by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against or inaction, or by any erroneous decision, on the part of an Indemnified Indemnity Party with respect to which indemnity may be sought against the Company in discharging its obligations under this Agreement, unless it is finally determined through legal or administrative procedures or consultations between Party A and Party B that such Indemnified Party shall promptly notify loss was incurred due to the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense fault of such Indemnified Party. 13.3 If, unless (i) based on the Company has failed to assume the defense and employ counsel experiences, capabilities or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense qualifications of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory the losses described in form and substance to Purchaser, from all liability arising out of such action, claim, suit the above two sections can or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Partyshould be expected, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall promptly notify Party A of the possibility of such losses and fulfill appropriate duties and obligations as agreed herein. Otherwise, the Indemnified Parties will not exceed the amount of interest and fees actually received by Purchaser pursuant be indemnified according to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationindemnity clause. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) 13.4 This indemnity clause shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full Agreement, regardless of the Convertible Debentures and (iii) shall remain operative and manner in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Partywhich this Agreement is terminated.

Appears in 3 contracts

Sources: Policy Management Agreement (China Life Insurance Co LTD), Policy Management Agreement (China Life Insurance Co LTD), Policy Management Agreement (China Life Insurance Co LTD)

Indemnification. (a) The Company agrees to indemnify Borrower hereby indemnifies and hold holds harmless Purchasereach Finance Party, its Affiliates, the Funding Agents and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the their respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person their (each an "Indemnified Party"and their Affiliates’) respective officers, advisors, directors and employees (collectively, the "Indemnified Parties"), ”) from and against any and all losses, claims, damages, liabilities losses, liabilities, costs and expenses (includingincluding fees and disbursements of counsel, without limitation and which must be reasonable so long as incurredno Event of Default is continuing), reasonable costs of investigatingjoint or several, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such or asserted or awarded against any Indemnified Party (including in connection with any investigativeinvestigation, administrative litigation or judicial proceeding brought or threatened that relates to the preparation of a defence in connection therewith), in each case arising out of or arises out of, or is in connection with any activities contemplated or by any Transaction reason of this Agreement, the other Finance Documents, the Funding Agreement or the transactions contemplated hereby or thereby or any other services rendered actual or proposed use of the proceeds of the Loans (collectively, the “Indemnified Liabilities”), except (i) to the extent such claim, damage, loss, liability or expense is found in connection herewith; provided that the Company will not be responsible for any claimsa final, liabilities, losses, damages or expenses that are determined non-appealable judgment by final judgment of a court of competent jurisdiction to result have resulted primarily from such Indemnified Party's ’s gross negligence, willful negligence or wilful misconduct or bad faithis a claim, damage, loss, liability or expense which would have been compensated under other provisions of the Finance Documents but for any exclusions applicable thereunder and (ii) with respect to claims, damages, losses, liability or expenses arising solely under the Funds Flow Agreement, to the extent the same are not attributable to the Borrower’s breach of the terms thereof. (b) If any action In the case of an investigation, litigation or other proceeding to which the indemnity in this Clause 13.6 (Indemnification) applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought against by the Borrower, any of its directors, security holders or creditors, an Indemnified Party or any other Person or an Indemnified Party is otherwise a party thereto. (c) Each Indemnified Party shall: (i) furnish the Borrower with prompt notice of any action, suit or other claim covered by this Clause 13.6 (Indemnification); (ii) not agree to any settlement or compromise of any such action, suit or claim without the Borrower’s prior consent; (iii) cooperate fully in the Borrower’s defence of any such action, suit or other claim (provided that the Borrower shall reimburse such Indemnified Party for its out-of- pocket expenses incurred pursuant hereto, which must be reasonable so long as no Event of Default is continuing); and (iv) at the Borrower’s request, permit the Borrower to assume control of the defence of any such claim, other than regulatory, supervisory or similar investigations, provided that: (A) the Borrower acknowledges in writing its obligations to indemnify such Indemnified Party in accordance with the terms herein in connection with such claims; (B) the Borrower shall keep such Indemnified Party fully informed with respect to which indemnity may be sought against the Company under this Agreement, conduct of the defence of such claim; (C) the Borrower shall consult in good faith with such Indemnified Party (from time to time and before taking any material decision) about the conduct of the defence of such claim; (D) the Borrower shall promptly notify conduct the Company in writing defence of such claim properly and diligently taking into account its own interests and those of such Indemnified Party; (E) the Company, at its option, may, assume the defense thereof, including the employment of Borrower shall employ counsel reasonably satisfactory acceptable to such Indemnified Party and at the Borrower’s expense; and (F) the Borrower shall not enter into a settlement with respect to such claim unless either: (I) such settlement involves only the payment of all reasonable fees and expenses. The failure to so notify a monetary sum, does not include any performance by or an admission of liability or responsibility on the Company shall not affect any obligations the Company may have to part of such Indemnified Party under this Agreement and contains a provision unconditionally releasing such Indemnified Party and each other Indemnified Party from, and holding all such Persons harmless against, all liability in respect of claims by any releasing party; or (II) such Indemnified Party provides written consent to such settlement (such consent not to be unreasonably withheld or otherwise unless delayed). (d) Notwithstanding the Company is materially adversely affected by such failure. Such Borrower’s election to assume the defence of an action, suit or other claim pursuant to paragraph (c) above, the Indemnified Party shall have the right to employ separate counsel in such action and to participate in the defense thereofdefence of such action, but suit or claim and the fees Borrower shall bear the fees, costs and expenses of such separate counsel shall be at the expense of such Indemnified Party, unless if: (i) the Company has failed use of counsel chosen by the Borrower to assume the defense and employ represent such Indemnified Party would present such counsel with an actual or potential conflict of interest; (ii) the named parties to actual or potential defendants in, or targets of, any such action (including any impleaded parties) include both the Borrower and such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel concluded that there may be one or more legal defenses defences available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing Borrower and determined that it elects is necessary to employ separate counsel at in order to pursue such defences (in which case the expense of the Company, the Company Borrower shall not have the right to assume the defense defence of such action or proceeding on behalf of such Indemnified Party, provided, however, that ’s behalf); (iii) the Company Borrower shall not, in connection with any one not have employed counsel reasonably acceptable to such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out Indemnified Party to represent such Indemnified Party within a reasonable time after notice of the same general allegations institution of such action; or (iv) the Borrower authorises such Indemnified Party to employ separate counsel at the Borrower’s expense. (e) If any sum due from the Borrower under the Finance Documents (a “Sum”), or circumstancesany order, judgment or award given or made in relation to a Sum, has to be responsible hereunder converted from the currency (the “First Currency”) in which that Sum is payable into another currency (the “Second Currency”) for the reasonable fees and expenses of more than one such firm of separate counselpurpose of: (i) making or filing a claim or proof against the Borrower; (ii) obtaining or enforcing an order, judgment or award in addition relation to any local counsellitigation or arbitration proceedings; the Borrower shall as an independent obligation, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement within three (3) Business Days of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to demand, indemnify and hold harmless each Indemnified Party from and to whom that Sum is due against any cost, loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses the conversion including any discrepancy between (iA) in such proportion as is appropriate the rate of exchange used to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other convert that Sum from the transactions contemplated by this Agreement First Currency into the Second Currency and (B) the rate or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate rates of exchange available to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination time of this Agreement and the other Transaction Agreements and the payment in full its receipt of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Partythat Sum.

Appears in 3 contracts

Sources: Fifth Amendment and Restatement Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD)

Indemnification. (a) The Company Borrower agrees to indemnify and hold harmless Purchaserthe Banks, its Affiliatesthe Issuing Banks, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), Lead Arrangers and the respective partnersAdministrative Agent and their affiliates, as well as their and their affiliates’ shareholders, directors, agents, employeesofficers, officers subsidiaries and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties")affiliates, from and against any and all damages, losses, settlement payments, obligations, liabilities, claims, damagessuits, liabilities and expenses (includingpenalties, without limitation and as incurredassessments, reasonable costs citations, directives, demands, judgments, actions or causes of investigating, preparing or defending any such claim or action, whether statutorily created or not under the common law, and reasonable costs and expenses incurred, suffered, sustained or required to be paid by an indemnified party by reason of or resulting from the transactions contemplated hereby, except any of the foregoing which result from the gross negligence or willful misconduct of such Indemnified Party is indemnified party or a material breach of the obligations of such indemnified party theretounder this Agreement or under any other Loan Document, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be as determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not jurisdiction. In any investigation, enforcement matter, proceeding or litigation, or the preparation therefor, the Banks, the Issuing Banks, the Lead Arrangers and the Administrative Agent shall be entitled to indemnification hereunder with respect select their own counsel and, in addition to such costs) which may be incurred by such Indemnified Party in connection with any investigativethe foregoing indemnity, administrative or judicial proceeding brought or threatened that relates the Borrower agrees to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that pay promptly the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Companynon-duplicative allocated cost of internal counsel), and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to settlement costs. In the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense event of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement commencement of any such action effected without proceeding or litigation against the written consent Banks or Administrative Agent by third parties, the Borrower shall be entitled to participate in such proceeding or litigation with counsel of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Companytheir choice at their expense. In additionthe case of an investigation, litigation or proceeding to which the Company will notindemnity in this §16 applies, without the prior written consent of Purchasersuch indemnity shall be effective, settle or compromise or consent subject to the entry of any judgment in or otherwise seek to terminate any pending or threatened actionlimitations herein, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party such investigation, litigation or proceeding is brought by the Borrower, the Borrower’s equityholders, affiliates or creditors or such an indemnified party, whether or not such indemnified party is otherwise a party thereto) unless such settlement, compromise, consent thereto and whether or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby are consummated. The covenants of this §16 shall be determined by reference to, among other things, whether survive payment or satisfaction of payment of amounts owing with respect to any untrue or alleged untrue statement of material fact Note or the omission or alleged omission to state a material fact related to information supplied by Loans and satisfaction of all the Company or by Purchaser Obligations hereunder and under the parties' relative intentLoan Documents, knowledgeIT BEING THE INTENT OF THE PARTIES HERETO THAT ALL SUCH INDEMNIFIED PARTIES SHALL BE INDEMNIFIED FOR THEIR ORDINARY SOLE, access to information and opportunity to correct or prevent such statement or omissionCOMPARATIVE OR CONTRIBUTORY NEGLIGENCE. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationWITHOUT LIMITATION OF THE FOREGOING, NO PARTY SHALL BE LIABLE TO ANY OTHER PARTY IN RESPECT OF ANY INDIRECT, CONSEQUENTIAL OR PUNITIVE DAMAGES ASSERTED BY SUCH OTHER PARTY WITH RESPECT TO THE MATTERS CONTEMPLATED BY THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR ANY USE MADE OR TO BE MADE WITH THE PROCEEDS OF ANY CREDIT EXTENSION HEREUNDER OR THEREUNDER. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 3 contracts

Sources: Revolving Credit Agreement (Waste Management Inc), Revolving Credit Agreement (Waste Management Inc), Revolving Credit Agreement (Waste Management Inc)

Indemnification. Each party required to deliver an Assessment of Compliance and an Accountant’s Attestation and/or an Item 1123 Certification under Article XIII (aeach, a “Responsible Party) The Company agrees to shall indemnify and hold harmless Purchaserthe Trust Administrator, its Affiliates, the Master Servicer and the Depositor and each Personof their directors, if anyofficers, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partnersemployees, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), affiliates from and against any and all claims, losses, claims, damages, liabilities penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses arising out of or based upon (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending a) any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred breach by such Indemnified Responsible Party of any if its obligations under this Article XIII including particularly its obligation to provide any Back-Up Certification, any Assessment of Compliance and an Accountant’s Attestation and/or an Item 1123 Certification or any information, data or materials required to be included in any 1934 Act report,, (b) any misstatement or omission in any information, data or materials provided by such Responsible Party (or, in the case of the Trust Administrator or Master Servicer, any material misstatement or material omission in (i) any 1123 Certification, Assessment of Compliance or Accountant’s Attestation delivered by it, or by any Servicing Function Participant engaged by it, pursuant to this Agreement or (ii) any additional Form 10-D, Form 10-K or Form 8-K disclosure concerning the Master Servicer or the Trust Administrator, or (c) the negligence, bad faith or willful misconduct of such Responsible Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement performance of any such action effected without if its obligations hereunder. If the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If provided for any reason the foregoing indemnity herein is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmlessharmless the Master Servicer, the Trust Administrator or the Depositor, then in lieu of indemnifying such Indemnified Party, the Company each Responsible Party agrees that it shall contribute to the amount paid or payable by such Indemnified Party Trust Administrator, the Master Servicer or the Depositor, as applicable, as a result of such any claims, liabilities, losses, damagesdamages or liabilities incurred by the Master Servicer, the Trust Administrator or expenses (i) the Depositor, as applicable, in such proportion as is appropriate to reflect the relative benefits received by fault of Trust Administrator or the Company Depositor, as applicable, on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable lawsuch Responsible Party, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) This indemnification shall survive the termination of this Agreement and or the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless termination of any investigation made by or on behalf of Purchaser or any other Indemnified Partyparty to this Agreement.

Appears in 3 contracts

Sources: Pooling and Servicing Agreement (CSMC 2006-8), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2006-7), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2006-7)

Indemnification. (a) The Company agrees to will indemnify and hold harmless PurchaserBMP, its Affiliates, affiliates and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act their respective partners (each, a "Controlling Person"both general and limited), members (both managing and the respective partners, agents, employees, officers otherwise) and Directors of Purchaser, their Affiliates and any such Controlling Person Representatives (each such person being an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all actions, suits, investigations, losses, claims, damagesdamages and liabilities, liabilities including in connection with seeking indemnification, whether joint or several (the “Liabilities”), related to, arising out of or in connection with the Transactions, the Services or other services contemplated by this Agreement or the engagement of BMP pursuant to, and the performance by BMP of the Services or other services contemplated by, this Agreement, whether or not pending or threatened, whether or not an Indemnified Party is a party, whether or not resulting in any liability and whether or not such action, claim, suit, investigation or proceeding is initiated or brought by the Company. The Company will reimburse any Indemnified Party for all reasonable costs and expenses (including, without limitation including reasonable attorneys’ fees and expenses and any other litigation-related expenses) as incurred, reasonable costs of they are incurred in connection with investigating, preparing preparing, pursuing, defending or defending assisting in the defense of any such claim action, claim, suit, investigation or actionproceeding for which the Indemnified Party would be entitled to indemnification under the terms of the previous sentence, or any action or proceeding arising therefrom, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company that it will not, without the prior written consent of Purchaserthe Indemnified Party, settle or settle, compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit action or proceeding in respect relating to which indemnification or contribution may be sought hereunder the matters contemplated hereby (whether or not if any Indemnified Party is a party thereto or has been threatened to be made a party thereto) unless such settlement, compromise, compromise or consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, Party from all liability liability, without future obligation or prohibition on the part of the Indemnified Party, arising or that may arise out of such actionclaim, action or proceeding, and does not contain an admission of guilt or liability on the part of the Indemnified Party. The Company will not be liable under the foregoing indemnification provision with respect to any particular loss, claim, suit damage, liability, cost or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms expense of such indemnity) to an Indemnified Party that is determined by a court, in a final judgment from which no further appeal may be taken, to have resulted solely from the gross negligence or insufficient to hold willful misconduct of such Indemnified Party. The attorneys’ fees and other expenses of an Indemnified Party harmlessshall be paid by the Company as they are incurred upon receipt, then in lieu each case, of indemnifying an undertaking by or on behalf of the Indemnified Party to repay such amounts if it is finally judicially determined that the Liabilities in question resulted solely from the gross negligence or willful misconduct of such Indemnified Party, the Company shall contribute to the amount paid or payable by such . The rights of an Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall indemnification hereunder will be in addition to any liability the Company other rights and remedies any such person may have under any other agreement or instrument to any which each Indemnified Party at common is or becomes a party or is or otherwise becomes a beneficiary or under any law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Partyregulation.

Appears in 3 contracts

Sources: Transaction and Management Fee Agreement (Apria, Inc.), Transaction and Management Fee Agreement (Apria, Inc.), Transaction and Management Fee Agreement (Ahny-Iv LLC)

Indemnification. (a) The Company A. Issuer covenants and agrees to indemnify and hold harmless PurchaserExchange Agent, its Affiliatesdirectors, officers, employees and each Person, if any, who controls Purchaser, or any of its Affiliates, within agents (the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party"Persons”) and collectively, the "Indemnified Parties"), from and against any and all losses, claimsdamages, costs or expenses (including reasonable attorney’s fees and court costs), arising out of or attributable to its acceptance of appointment as Exchange Agent hereunder, provided that such indemnification shall not apply to losses, damages, liabilities and costs or expenses (includingincurred due to negligence or willful misconduct of the Exchange Agent. Exchange Agent shall notify Issuer in writing of any written asserted claim against Exchange Agent or of any other action commenced against Exchange Agent, without limitation and as incurred, reasonable costs reasonably promptly after Exchange Agent shall have received any such written assertion or shall have been served with a summons in connection therewith. Issuer shall be entitled to participate at its own expense in the defense of investigating, preparing or defending any such claim or actionother action and, whether if Issuer so elects, Issuer may assume the defense of any pending or not such Indemnified Party is a party thereto, threatened action against Exchange Agent in respect of which indemnification may be sought hereunder; provided that the Company Issuer shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereofof any such action if the named parties to such action include both the Issuer and Exchange Agent and representation of both parties by the same legal counsel would, including in the employment written opinion of counsel for Exchange Agent, be inappropriate due to actual or potential conflicting interests between them; and further provided that in the event Issuer shall assume the defense of any such suit, and such defense is reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company Exchange Agent, Issuer shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but therewith be liable for the fees and expenses of such any counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised retained by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company Exchange Agent. B. Exchange Agent agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will notthat, without the prior written consent of PurchaserIssuer (which consent shall not be unreasonably withheld), settle or it will not settle, compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit action or proceeding in respect to of which indemnification or contribution may could be sought hereunder in accordance with the indemnification provision of this Agreement (whether or not any Indemnified Party Persons is a an actual or potential party thereto) unless to such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit action or proceeding). (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 2 contracts

Sources: Exchange Agent Agreement (Atlantic Auto Funding Corp), Exchange Agent Agreement (DPL Inc)

Indemnification. (a) The Company Borrower agrees to indemnify and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act defend (each, a "Controlling Person"with counsel satisfactory to Lender), and the respective partnersprotect, agentsindemnify, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify exonerate and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In additionand all liabilities, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilitiesobligations, losses, damages, penalties, actions, judgments, suits, claims, costs, expenses and distributions of any kind or expenses nature (iincluding the disbursements and the reasonable fees of counsel for each Indemnified Party thereto, which shall also include, without limitation, reasonable attorneys’ fees and time charges of attorneys who may be employees of any Indemnified Party), which may be imposed on, incurred by, or asserted against, any Indemnified Party (whether direct, indirect or consequential and whether based on any federal, state or local laws or regulations, including securities laws, Environmental Laws, commercial laws and regulations, under common law or in equity, or based on contract or otherwise) in such proportion as is appropriate any manner relating to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by or arising out of this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault any of the Company and Purchaser as well as Loan Documents, or any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3act, event or transaction related or attendant thereto, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest preparation, execution and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination delivery of this Agreement and the Loan Documents, including the making or issuance and management of the Loans, the use or intended use of the proceeds of the Loans, the enforcement of Lender’s rights and remedies under this Agreement, the Loan Documents, any Note, any other Transaction Agreements instruments and documents delivered hereunder, or under any other agreement between Borrower and Lender; provided, however, that Borrower shall not have any obligations hereunder to any Indemnified Party with respect to matters determined by a court of competent jurisdiction by final and nonappealable judgment to have been caused by or resulting from the willful misconduct or gross negligence of such Indemnified Party. To the extent that the undertaking to indemnify set forth in the preceding sentence may be unenforceable because it violates any law or public policy, Borrower shall satisfy such undertaking to the maximum extent permitted by applicable law. Any liability, obligation, loss, damage, penalty, cost or expense covered by this indemnity shall be paid to each Indemnified Party on demand, and failing prompt payment, together with interest thereon at the Default Rate from the date incurred by each Indemnified Party until paid by Borrower, shall be added to the Obligations of Borrower and be secured by the Collateral. The provisions of this Section shall survive the satisfaction and payment of the other Obligations and the payment in full termination of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Partythis Agreement.

Appears in 2 contracts

Sources: Loan Agreement (Ari Network Services Inc /Wi), Revolving Credit Agreement (American Land Lease Inc)

Indemnification. (a) The Company agrees to For a period of not less than six (6) years from and after the Effective Time, the Surviving Corporation shall, and Parent shall cause the Surviving Corporation to, indemnify and hold harmless Purchaserall past and present directors and officers of the Company and its Subsidiaries and individuals who become such prior to the Effective Time (the “Indemnified Parties”), its Affiliatesagainst all claims, losses, liabilities, damages, judgments, fines and each Personreasonable fees, if anycosts and expenses, who controls Purchaserincluding attorneys’ fees and disbursements, incurred in connection with any claim, action, suit, proceeding or investigation, whether civil, criminal, administrative or investigative, arising out of or pertaining to the fact that the Indemnified Party is or was an officer, director, employee or agent of the Company or any of its AffiliatesSubsidiaries, within whether asserted or claimed prior to, at or after the meaning Effective Time, to the fullest extent permitted by applicable Law. Each Indemnified Party will be entitled to advancement of expenses (including attorneys’ fees) incurred in the defense of any such claim, action, suit, proceeding or investigation from each of the Securities Act or the Exchange Act (each, a "Controlling Person"), Parent and the respective partnersSurviving Corporation to the fullest extent permitted by applicable Law, agentsprovided, employeeshowever, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party to whom expenses are advanced provides an undertaking undertaking, to the extent required by the NJBCA, to repay to the Company the costs so advanced such advances if it should be is determined by final judgment determination of a court of competent jurisdiction (which determination is not subject to appeal) that such Indemnified Party was is not entitled to indemnification under applicable Law. Any claims for indemnification or advancement made prior to the expiration of the six-year period hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that shall survive until the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faithresolution thereof. (b) If any action For a period of not less than six (6) years from and after the Effective Time, the certificate of incorporation and bylaws of the Surviving Corporation shall be brought against an Indemnified Party contain provisions no less favorable with respect to which indemnity may be sought against exculpation, indemnification and advancement of expenses of directors and officers of the Company under this Agreement, such Indemnified Party shall promptly notify for periods at or prior to the Company Effective Time than are currently set forth in writing and the Company, at its option, may, assume the defense thereof, including the employment ’s certificate of counsel reasonably satisfactory to such Indemnified Party incorporation and payment of all reasonable fees and expensesbylaws. The failure to so notify indemnification agreements in existence on the Company shall not affect any obligations the Company may have to such Indemnified Party under date of this Agreement with any of the directors, officers or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense employees of the Company, which are listed in Section 7.01(b) of the Company Disclosure Schedule, shall continue in full force and effect in accordance with their terms following the Effective Time. (c) For six (6) years from and after the Effective Time, the Surviving Corporation shall, and Parent shall cause the Surviving Corporation to, maintain for the benefit of the Company’s directors and officers, as of the date of this Agreement and as of the Effective Time, an insurance and indemnification policy that provides coverage for events occurring prior to the Effective Time (the “D&O Insurance”) that is substantially equivalent to and in any event not less favorable in the aggregate than the Company’s existing policy (true and complete copies of which have been previously provided to Parent) or, if substantially equivalent insurance coverage is unavailable, the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, best available coverage; provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company Surviving Corporation shall not be liable for any settlement of any such action effected without the written consent of the Company required to pay (which and Parent shall not be unreasonably withheldrequired to cause the Surviving Corporation to pay) and an annual premium for the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason D&O Insurance in excess of settlement of any action effected with the consent 200% of the Company. In additionlast annual premium paid prior to the date of this Agreement (it being understood and agreed that in the event such D&O Insurance cannot be obtained for 200% of such last annual premium or less, in the aggregate, the Company will not, without Surviving Corporation shall remain obligated to provide the greatest D&O Insurance coverage as may be obtained for such amount). The provisions of the immediately preceding sentence shall be deemed to have been satisfied if prepaid “tail insurance” policies have been obtained prior written consent of Purchaser, settle or compromise or consent to the entry Effective Time and remain in effect for an aggregate period of any judgment in or otherwise seek to terminate any pending or threatened actionsix (6) years, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder policies provide such directors and officers with coverage for an aggregate period of six (whether or not any Indemnified Party is a party thereto6) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other years with respect to claims arising from facts or events that occurred on or before the transactions contemplated hereby Effective Time, including in respect of the Transactions. If such prepaid policies have been obtained prior to the Effective Time, the Surviving Corporation shall, and Parent shall be determined by reference cause the Surviving Corporation to, among other thingsmaintain such policies in full force and effect, whether any untrue and continue to honor the obligations thereunder or alleged untrue statement of material fact if such policies are terminated or cancelled, obtain alternate D&O Insurance on the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationterms set forth above. (d) The indemnificationIn the event the Surviving Corporation (1) consolidates with or merges into any other Person and is not the continuing or surviving corporation or entity of such consolidation or merger or (2) transfers all or substantially all of its properties and assets to any Person, contribution and expense reimbursement then in either case proper provision shall be made so that such continuing or surviving corporation or entity or transferee of such assets, as the case may be, shall assume the obligations set forth in this Section 13.3 7.01. The obligations under this Section 7.01 shall not be terminated or modified in such a manner as to adversely affect in any material respect any indemnitee to whom this Section 7.01 applies without the consent of such affected indemnitee (i) it being expressly agreed that the indemnitees to whom this Section 7.01 applies shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination third party beneficiaries of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartySection 7.01).

Appears in 2 contracts

Sources: Merger Agreement (Intelligroup Inc), Merger Agreement (Intelligroup Inc)

Indemnification. (a) The Company agrees France shall indemnify, or shall cause the Borrower to indemnify and hold harmless PurchaserCitigroup, its Affiliates, each Lender and each Personof their respective affiliates and each of their respective officers, if anydirectors, who controls Purchaseremployees, or any of its Affiliatesagents, within the meaning of the Securities Act or the Exchange Act advisors and representatives (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, losses, liabilities and expenses (including, without limitation limitation, fees and as incurreddisbursements of counsel), reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such or asserted or awarded against any Indemnified Party (including, without limitation, in connection with any investigativeinvestigation, administrative litigation or judicial proceeding brought or threatened that relates to the preparation of a defense in connection therewith), in each case arising out of or arises out of, or is in connection with any activities or by reason of this Commitment Letter or the Operative Documents or the transactions contemplated by any Transaction Agreement hereby or thereby or any other services rendered actual or proposed use of the proceeds of the Facilities, except to the extent such claim, damage, loss, liability or expense is found in connection herewith; provided that the Company will not be responsible for any claimsa final, liabilities, losses, damages or expenses that are determined non-appealable judgment by final judgment of a court of competent jurisdiction to result have resulted primarily from such Indemnified Party's gross negligence, willful misconduct or ’s bad faith. (b) If any action , gross negligence or willful misconduct. In the case of an investigation, litigation or other proceeding to which the indemnity in this paragraph applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought against by France, the Borrower, any of their respective directors, security holders or creditors, an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such or any other person or an Indemnified Party shall promptly notify is otherwise a party thereto and whether or not the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expensestransactions contemplated hereby are consummated. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such No Indemnified Party shall have any liability (whether in contract, tort or otherwise) to France or the right Borrower or any of their respective security holders or creditors for or in connection with the transactions contemplated hereby, except to employ separate counsel the extent such liability is determined in such action and participate in the defense thereof, but the fees and expenses a final non-appealable judgment by a court of such counsel shall be at the expense of competent jurisdiction to have resulted primarily from such Indemnified Party’s bad faith, unless (i) the Company has failed to assume the defense and employ counsel gross negligence or (ii) the named parties to willful misconduct. In no event, however, shall any such action (including any impleaded parties) include such Indemnified Party be liable on any theory of liability for any special, indirect, consequential or punitive damages (including, without limitation, any loss of profits, business or anticipated savings) and the CompanyFrance, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Partyhimself, providedthe Borrower, howeverand any person claiming through France or the Borrower, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees hereby releases and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold holds harmless each Indemnified Party from all such liability. France acknowledges that information and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent documents relating to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser Facilities and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby and thereby may be transmitted through IntraLinks, the Internet or similar electronic transmission systems. No Indemnified Party shall be determined liable for any damages arising from the use by reference tounauthorized persons of information or other materials sent through electronic, among telecommunications or other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied transmission systems that are intercepted by the Company or by Purchaser such persons. The indemnity and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) reimbursement obligations of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) Borrower hereunder shall be in addition to any other liability the Company Borrower may otherwise have to any an Indemnified Party at common law or otherwise; (ii) and shall survive be binding upon and inure to the termination benefit of this Agreement any successors, assigns, heirs and the other Transaction Agreements and the payment in full personal representatives of the Convertible Debentures Borrower and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 2 contracts

Sources: De Merger Letter Agreement (Copenhagen Airports a/S), De Merger Letter Agreement (Pardo Fernando Chico)

Indemnification. (a) The Company agrees to To the fullest extent permitted by law, the Partnership shall indemnify and hold harmless Purchaser, its Affiliates, each Indemnified Party (and each Person, if any, their respective heirs and legal and personal representatives) who controls Purchaserwas or is a party, or is threatened to be made a party, to any of its Affiliatesthreatened, within pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (including any action by or in the meaning right of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"Partnership), from and against any and all claims, losses, claimsliabilities, damages, liabilities and expenses of any kind for which such Person has not otherwise been reimbursed to which such Indemnified Party may become subject and arise out of or in connection with the business of the Partnership or any Portfolio Company or the performance by the Indemnified Party of any of its responsibilities hereunder or under the Investment Management Agreement (including, without limitation and as incurredlimitation, all reasonable costs and expenses of investigatingattorneys, preparing defense, appeal and settlement of any and all suits, actions or defending any such claim proceedings instituted or action, whether or not threatened against such Indemnified Party is a party theretoor the Partnership (including, provided without limitation, formal and informal inquiries, sweep examinations and any type of similar regulatory and/or governmental requests) actually and reasonably incurred by such Person in connection with such action, suit or proceeding) (collectively, “Indemnified Losses”); provided, that the Company shall not be obligated to advance such costs to any an Indemnified Party other than Purchaser unless it has received from such shall be entitled to indemnification for Indemnified Party an undertaking to repay Losses hereunder only to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction extent that such Indemnified Party was Losses are not entitled attributable to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's ’s intentional and material breach of this Agreement or the Investment Management Agreement, gross negligence, fraud, willful misconduct or bad faith. The satisfaction of any indemnification and any saving harmless pursuant to this Section 4.3(a) shall be from and limited to Partnership assets, no Limited Partner shall have any obligation to make payments to fund its share of any indemnification obligations under this Section 4.3(a) and no Partner shall have any personal liability on account thereof. (b) If any action shall be brought against Expenses reasonably incurred by an Indemnified Party in defense or settlement of any claim that may be subject to a right of indemnification hereunder shall be advanced by the Partnership prior to the final disposition thereof upon receipt of an undertaking in writing by or on behalf of the Indemnified Party to repay such amount to the extent that it shall be determined ultimately that such Indemnified Party is not entitled to be indemnified hereunder. Notwithstanding the foregoing, no advances shall be made by the Partnership under this Section 4.3(b), without the prior written approval of the General Partner (which may be given or withheld in its sole discretion with respect to any aspect thereof). (c) The right of any Indemnified Party to the indemnification provided herein shall be cumulative of, and in addition to, any and all rights to which indemnity may be sought against the Company under this Agreement, such Indemnified Party may otherwise be entitled by contract (including, without limitation, any contract with the Partnership) or as a matter of law or equity and shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory extend to such Indemnified Party’s successors, assigns and legal representatives. (d) Any Indemnified Party entitled to indemnification from the Partnership hereunder shall first seek recovery and payment diligently pursue such other source under any other indemnity (other than an indemnity from another Indemnified Party) or any insurance policies by which such Person is indemnified or covered (other than pursuant to the terms of all reasonable fees the governing documents of the General Partner, the Manager and expenses. The failure their Affiliates), as the case may be, but only to so notify the Company shall not affect any obligations extent that the Company may have indemnitor with respect to such indemnity or the insurer with respect to such insurance policy provides (or acknowledges its obligation to provide) such indemnity or coverage on a timely basis, as the case may be. If an Indemnified Party under this Agreement or otherwise unless is a Person other than the Company is materially adversely affected by General Partner, such failure. Such Indemnified Party Person shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without obtain the written consent of the Company (General Partner prior to entering into any compromise or settlement which would result in an obligation of the Partnership to indemnify such Person; and if liabilities arise out of the conduct of the affairs of the Partnership and any other Person for which the Person entitled to indemnification from the Partnership hereunder was then acting in a similar capacity, the amount of the indemnification provided by the Partnership shall not be unreasonably withheld) limited to the Partnership’s proportionate share thereof as determined in good faith by the General Partner in light of its fiduciary duties to the Partnership and the Company agrees Limited Partners. (e) Nothing in this Section 4.3 will be construed so as to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason provide for the indemnification of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party theretofor any liability (including liability under federal securities laws which, under certain circumstances, impose liability even on persons acting in good faith), to the extent (but only to the extent) unless that such settlementindemnification would be in violation of applicable law, compromise, consent or termination includes an express unconditional release of Purchaser and but otherwise will be construed so as to effectuate these provisions to the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceedingfull extent permitted by law. (cf) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant Notwithstanding anything to the express terms contrary herein, and for the avoidance of such indemnity) doubt, the Partnership’s obligations under this Section 4.3 are not intended to render the Partnership as a primary indemnitor for purposes of the indemnification, advancement of expenses and related provisions under the corporation or other applicable law governing an entity in which the Partnership makes an Investment, it being agreed that an Indemnified Party shall first seek to be so indemnified and have such expenses advanced by such entity (or insufficient applicable insurance policies maintained by such entity). Inasmuch as the Partnership is intended to hold be secondarily liable in respect of losses, damages and expenses that are otherwise primarily indemnifiable by a particular entity in which the Partnership makes an Investment, it is intended among the Partners and the Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, that any advancement or payment by the Company shall contribute Partnership to the amount paid or payable by such Indemnified Party will result in the Partnership having a subrogation claim against the relevant entity in respect of such advancement or payments. The General Partner and the Partnership shall be specifically empowered to structure any such advancement or payment as a result of such claims, liabilities, losses, damages, loan or expenses (i) in such proportion other arrangement as is appropriate the General Partner may determine necessary or advisable to reflect give effect to or otherwise implement the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationforegoing. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 2 contracts

Sources: Limited Partnership Agreement (VistaOne, L.P.), Limited Partnership Agreement (VistaOne, L.P.)

Indemnification. a. AllClear ID shall, at its own expense and subject to the limitations set forth in this Section 9, indemnify, defend and hold harmless Company from any and all allegations, threats, claims, suits, proceedings, liability, damages, and costs (including without limitation reasonable attorneys’ fees) (collectively referred to hereafter as “Claims and Damages”), in each case brought by a third party and arising from AllClear ID’s gross negligence or willful misconduct in connection with provision of the Incident Response Services. Notwithstanding the foregoing, AllClear ID shall have no liability to Company for (i) Claims arising from the Company’s own acts, omissions, gross negligence or willful misconduct, or unauthorized or unintended uses of the Incident Response Services; (ii) any combination of the Incident Response Services with any other services, materials, data, or software not provided by AllClear ID; (iii) any unauthorized modifications made to the reports, notification letters, or other deliverables provided by AllClear ID as part of the Incident Response Services; or (iv) failure by Company to take commercially reasonable actions to prevent or mitigate losses, damages, costs and expenses. b. Company shall, at its own expense, indemnify, defend and hold harmless AllClear ID from any and all Claims and Damages arising from Company’s gross negligence or willful misconduct, from the provision of Data by Company to AllClear ID, or from actions taken by AllClear ID at the direction of Company. c. If an indemnity obligation arises pursuant to this Section, the Party seeking indemnification shall (a) The Company agrees to indemnify and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within promptly notify the meaning indemnifying Party of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewithClaim; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified allow the indemnifying Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at have sole control of its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Partysettlement, provided, however, that the Company indemnifying Party shall not, in connection with not enter into any one such settlement that obligates the indemnified Party to take any action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to incur any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected expense without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the indemnified Party’s prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser consent; and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason upon request of the foregoing indemnity is unavailable (otherwise than pursuant to indemnifying Party, cooperate in commercially reasonable respects in the express terms investigation, trial, and defense of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand Claim and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerationsappeal arising therefrom. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations indemnities set forth in this Section 13.3 (i) shall be in addition to any constitute AllClear ID’s sole liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartyCompany’s sole remedy for Claims hereunder.

Appears in 2 contracts

Sources: Master Services Agreement, Master Services Agreement

Indemnification. (a) The Company agrees to indemnify and hold harmless PurchaserKBW and its affiliates, its Affiliatesthe respective partners, directors, officers, employees, and agents of KBW and ▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇ OBA Bancorp, Inc. OBA Bank April 6, 2009 its affiliates and each Personother person, if any, who controls Purchaser, controlling KBW or any of its Affiliates, within the meaning affiliates and each of the Securities Act or the Exchange Act their successors and assigns (each, a "Controlling Person"), KBW and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any each such Controlling Person (each person being an "Indemnified Party") and collectively, to the "Indemnified Parties")fullest extent permitted by law, from and against any and all losses, claims, damagesdamages and liabilities, liabilities joint or several, to which such Indemnified Party may become subject under applicable federal or state law, or otherwise, related to or arising out of the engagement of KBW pursuant to, and the performance by KBW of the services contemplated by, this letter, and will reimburse any Indemnified Party for all expenses (including, without limitation including reasonable counsel fees and expenses) as they are incurred, reasonable costs of investigatingincluding expenses incurred in connection with investigation, preparing for or defending any such action or claim whether or actionnot in connection with pending or threatened litigation, or any action or proceeding arising therefrom, whether or not such Indemnified Party KBW is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Party. The Company will not be responsible for liable under the foregoing indemnification provision to the extent that any claimsloss, liabilitiesclaim, lossesdamage, damages liability or expenses that are determined by expense is found in a final judgment of by a court of competent jurisdiction to result have resulted primarily from such Indemnified Party's gross negligenceKBW’s bad faith, willful misconduct or bad faith. (b) gross negligence. If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate indemnification provided for in the defense thereof, but foregoing paragraph is judicially determined to be unavailable (other than in accordance with the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (iterms hereof) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available person otherwise entitled to it which are different from or additional to those available to the Company, indemnity in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement respect of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees losses, claims, damages or liabilities referred to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In additionherein, the Company will notthen, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Partyperson hereunder, the Company shall contribute to the amount paid or payable by such Indemnified Party person as a result of such losses, claims, liabilities, losses, damages, damages or liabilities (and expenses relating thereto) (i) in such proportion as is appropriate to reflect the relative benefits received by to the Company Company, on the one hand hand, and by Purchaser KBW, on the other from hand, of the transactions contemplated by engagement provided for in this Agreement or (ii) if the allocation provided by for in clause (i) above is not permitted under applicable lawavailable, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, referred to in such clause (i) but also the relative fault of each of the Company and Purchaser KBW, as well as any other relevant equitable considerations. Notwithstanding ; provided, however, in no event shall KBW’s aggregate contribution to the provisions of this Section 13.3, amount paid or payable exceed the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to KBW under this Agreement. It is hereby further agreed that For the purposes of this Agreement, the relative benefits to the Company on and to KBW of the one hand engagement under this Agreement shall be deemed to be in the same proportion as (a) the total value paid or contemplated to be paid or received or contemplated to be received by the Company in the Conversion and Purchaser on the other Offerings that are the subject of the engagement hereunder, whether or not consummated, bears to (b) the fees paid or to be paid to KBW under this Agreement. This letter constitutes the entire Agreement between the parties with respect to the transactions contemplated hereby shall subject matter hereof and can be determined altered only by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied written consent signed by the Company or parties. This Agreement is governed by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) laws of the Securities Act) shall State of New York applicable to contracts executed in and to be entitled performed in that state, without regard to contribution from any Person who was not guilty such state’s rules concerning conflicts of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition laws. Any right to trial by jury with respect to any liability the Company may have to any Indemnified Party at common law claim or otherwise; (ii) shall survive the termination action arising out of this Agreement agreement or conduct in connection with the engagement is hereby waived by the parties hereto. ▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇ OBA Bancorp, Inc. OBA Bank April 6, 2009 If the foregoing correctly sets forth our mutual understanding, please so indicate by signing and returning the other Transaction Agreements and original copy of this letter to the payment in full undersigned. Very truly yours, ▇▇▇▇▇, ▇▇▇▇▇▇▇▇ & ▇▇▇▇▇, INC. By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Managing Director OBA BANCORP, MHC By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Date: 4/9/09 Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Title: President & CEO OBA BANCORP, INC. By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Date: 4/9/09 Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Title: President & CEO OBA BANK By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Date: 4/9/09 Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Title: President & CEO Form of Opinion of ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ & ▇▇▇▇▇▇, P.C., to be addressed to the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartyAgent.

Appears in 2 contracts

Sources: Agency Agreement (OBA Financial Services, Inc.), Agency Agreement (OBA Financial Services, Inc.)

Indemnification. (a) The Company At all times while Regional Airline Services are being furnished hereunder, including without limitation, while Ground Handling Functions are being performed with respect to any Aircraft, an employee or agent of the applicable Operator shall be in charge, custody and control of any Aircraft operated by such Operator by Delta or its contractors and Delta shall at no time be considered a bailee of or as having care, custody or control of such Aircraft. (b) Each Pinnacle Party, jointly and severally, shall be liable for and hereby agrees fully to indemnify defend, release, discharge, indemnify, and hold harmless Purchaser, Delta and its Affiliatesaffiliates, and each Personof their respective directors, if anyofficers, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act employees and agents (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party"“Delta Indemnitee”) and collectively, the "Indemnified Parties"), from and against any and all lossesclaims, claimsdemands, damages, liabilities liabilities, suits, judgments, actions, causes of action, losses, costs and expenses of any kind, character or nature whatsoever (includingin each case whether groundless or otherwise), without limitation including reasonable attorneys' fees, costs and as incurredexpenses in connection therewith and expenses of investigation and litigation thereof, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred suffered by, accrued against, charged to, or recoverable from any Delta Indemnitee in any manner arising out of, connected with, or attributable to this Agreement, the performance, improper performance, or nonperformance of any and all obligations to be undertaken by such Indemnified a Pinnacle Party pursuant to this Agreement, or the operation, non-operation, or improper operation by a Pinnacle Party of the Equipment or the Premises, excluding only claims, demands, damages, liabilities, suits, judgments, actions, causes of action, losses, costs and expenses resulting from the gross negligence or willful misconduct of any Delta Indemnitee. (c) Except as limited by Section 9.02(d) below, Delta shall be liable for and hereby agrees fully to defend, release, discharge, indemnify, and hold harmless each Operator, and each of their respective directors, officers, employees, and agents (each, an “Operator Indemnitee”) from and against any and all claims, demands, damages, liabilities, suits, judgments, actions, causes of action, losses, costs and expenses of any kind, character or nature whatsoever (in each case whether groundless or otherwise), including reasonable attorneys' fees, costs and expenses in connection therewith and expenses of investigation and litigation thereof, which may be suffered by, accrued against, charged to, or recoverable from any Operator Indemnitee in any manner arising out of, connected with, or attributable to Delta’s performance, improper performance or nonperformance of any and all obligations to be undertaken by Delta pursuant to this Agreement, or the operation, non-operation or improper operation of Delta's aircraft, equipment or facilities at any location, excluding only claims, demands, damages, liabilities, suits, judgments, actions, causes of action, losses, costs and expenses resulting from the gross negligence or willful misconduct of any Operator Indemnitee. Delta will do all things necessary to cause and assure, and will cause and assure, that Delta will at all times be and remain in custody and control of any aircraft, equipment and facilities of Delta used in connection with performance of this Agreement, and no Operator Indemnitee shall, for any investigativereason, administrative be deemed to be in the custody or judicial proceeding brought or threatened that relates to or arises out ofcontrol, or is in connection with any activities contemplated by any Transaction Agreement a bailee, of such Delta aircraft, equipment or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faithfacilities. (bd) If any action Delta shall be brought liable for and hereby agrees fully to defend, release, discharge, indemnify, and hold harmless each Operator Indemnity against an Indemnified Party with respect any physical loss of or damage to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment Aircraft caused solely by Delta's negligent operation of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel ground support equipment while providing Ground Handling Functions PROVIDED ALWAYS THAT Delta's liability shall be at limited to any such loss of or damage to an Operator’s Aircraft not exceeding the expense lesser of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel $500,000 or (ii) the named parties to deductible on such Operator’s hull insurance policy covering the damaged Aircraft, except that loss or damage in respect of any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company incident below *** shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceedingindemnified. (ce) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant The Pinnacle Parties and Delta agree to the express terms comply with all lawful rules, regulations, directives and similar instructions of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmlessappropriate governmental, then in lieu of indemnifying such Indemnified Partyjudicial and administrative entities including, but not limited to, airport authorities, the Company shall contribute to Federal Aviation Administration and the amount paid or payable by such Indemnified Party as a result Department of such claims, liabilities, losses, damages, or expenses Transportation (iand any successor agencies) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationRegional Airline Services. (df) The indemnificationOTHER THAN ANY WARRANTIES SPECIFICALLY CONTAINED IN THIS AGREEMENT, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartyEACH PARTY DISCLAIMS AND THE OTHER PARTY HEREBY WAIVES ANY WARRANTIES, EXPRESS OR IMPLIED, ORAL OR WRITTEN, WITH RESPECT TO THIS AGREEMENT OR ITS PERFORMANCE OF ITS OBLIGATIONS HEREUNDER INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR INTENDED USE RELATING TO ANY EQUIPMENT, DATA, INFORMATION OR SERVICES FURNISHED HEREUNDER. EACH PARTY AGREES THAT NO OTHER PARTY IS LIABLE TO IT OR ANY OTHER PERSONS FOR CONSEQUENTIAL OR PUNITIVE DAMAGES UNDER ANY CIRCUMSTANCES.

Appears in 2 contracts

Sources: Delta Connection Agreement (Pinnacle Airlines Corp), Delta Connection Agreement (Pinnacle Airlines Corp)

Indemnification. (a) The Company agrees to will indemnify and hold harmless PurchaserBMP, its Affiliates, affiliates and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act their respective partners (each, a "Controlling Person"both general and limited), members (both managing and the respective partnersotherwise), agentsofficers, directors, employees, officers agents and Directors of Purchaser, their Affiliates and any such Controlling Person representatives (each such person being an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damagesdamages and liabilities, liabilities including in connection with seeking indemnification, whether joint or several (the “Liabilities”), related to, arising out of or in connection with the Services provided under the Original Agreement or any services contemplated by this Agreement or the engagement of BMP pursuant to, and the performance by BMP of the Services provided under the Original Agreement or any services contemplated by this Agreement, whether or not pending or threatened, whether or not an Indemnified Party is a party, whether or not resulting in any liability and whether or not such action, claim, suit, investigation or proceeding is initiated or brought by the Company. The Company will reimburse any Indemnified Party for all reasonable costs and expenses (including, without limitation including reasonable attorneys’ fees and expenses) as incurred, reasonable costs of they are incurred in connection with investigating, preparing preparing, pursuing, defending or defending assisting in the defense of any such claim action, claim, suit, investigation or actionproceeding for which the Indemnified Party would be entitled to indemnification under the terms of the previous sentence, or any action or proceeding arising therefrom, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the . The Company will not be responsible for liable under the foregoing indemnification provision with respect to any claimsparticular loss, liabilitiesclaim, lossesdamage, damages liability, cost or expenses that are determined by final judgment expense of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to that is determined by a court, in a final judgment from which indemnity no further appeal may be sought against taken, to have resulted primarily from the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement gross negligence or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense willful misconduct of such Indemnified Party, unless (i) the Company has failed to assume the defense . The attorneys’ fees and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such other expenses of an Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable lawas they are incurred upon receipt, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the othereach case, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made an undertaking by or on behalf of Purchaser the Indemnified Party to repay such amounts if it is finally judicially determined that the Liabilities in question resulted primarily from the gross negligence or any other willful misconduct of such Indemnified Party.

Appears in 2 contracts

Sources: Sponsor Services Agreement (Celanese CORP), Sponsor Services Agreement (Celanese CORP)

Indemnification. (a) The To the fullest extent permissible under applicable law, the Company agrees to will, and will cause its Controlled Entities (as defined below) to, indemnify and hold harmless PurchaserFamily Holdco, its Affiliatesdesignees who provide Services and their respective former, current and each Personfuture direct or indirect equityholders, if anycontrolling persons, who controls Purchaserstockholders, or any of its Affiliatesdirectors, within the meaning of the Securities Act or the Exchange Act (eachofficers, a "Controlling Person")employees, and the respective partnersconsultants, agents, employeesaffiliates, officers and Directors of Purchasermembers, their Affiliates and any such Controlling Person managers, general or limited partners or assignees (each a “Related Party”) or any Related Party of any Related Party (each of the foregoing persons being an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all third party actions, suits, investigations, losses, claims, damages, liabilities and expenses (includingincluding amounts paid in satisfaction of judgments, without limitation in compromises and settlements, as incurredfines and penalties and legal or other costs and reasonable expenses of investigating or defending against any claim or alleged claim), including in connection with seeking indemnification, whether joint or several, related to, arising out of or in connection with the performance of the Services or other services contemplated by this Agreement or the engagement of Family Holdco pursuant to, and the performance by Family Holdco and its designees of the Services, whether or not pending or threatened, whether or not an Indemnified Party is a party, whether or not resulting in any liability (the “Liabilities”); provided that if and to the extent that the foregoing undertaking may be unavailable or unenforceable for any reason, the Company hereby agrees to make, and/or cause its Controlled Entities to make, the maximum contribution to the payment and satisfaction of each of the indemnified Liabilities which is permissible under applicable law. The Company will, and/or cause its Controlled Entities to, reimburse any Indemnified Party for all reasonable and documented costs of and expenses (including reasonable and documented attorneys’ fees and expenses and any other litigation-related expenses) as they are incurred in connection with investigating, preparing preparing, pursuing, defending or defending assisting in the defense of any such claim action, claim, suit, investigation or actionproceeding for which the Indemnified Party would be entitled to indemnification under the terms of the previous sentence, or any action or proceeding arising therefrom, whether or not such Indemnified Party is a party thereto, provided subject to an undertaking that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from will return any such Indemnified Party an undertaking to repay reimbursement to the Company Company, or the costs so advanced applicable Controlled Entities, if it should be is determined by final judgment of a court of competent jurisdiction jurisdiction, in a final judgment from which no appeal may be taken, that such Indemnified Party was is not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaserindemnification. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company that it will not, and will cause its Controlled Entities not to, without the prior written consent of Purchaserthe Indemnified Party, settle or settle, compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit action or proceeding in respect relating to which indemnification or contribution may be sought hereunder the matters contemplated hereby (whether or not if any Indemnified Party is a party thereto or has been threatened to be made a party thereto) unless such settlement, compromise, compromise or consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, Party from all liability liability, without any future obligation or prohibition on the part of the Indemnified Party, arising or that may arise out of such action, claim, suit action or proceeding, and does not contain an admission of guilt or liability on the part of the Indemnified Party. The Company will not be liable under the foregoing indemnification provision with respect to any particular Liability of an Indemnified Party that is determined by a court of competent jurisdiction, in a final judgment from which no further appeal may be taken, to have resulted from the gross negligence, willful misconduct or fraud of such Indemnified Party or as otherwise provided under applicable law. The attorneys’ fees and other expenses of an Indemnified Party shall be paid by the Company or by its Controlled Entities as they are incurred upon receipt, in each case, of an undertaking by or on behalf of the Indemnified Party to repay such amounts if it is finally judicially determined that the Liabilities in question resulted from the gross negligence, willful misconduct or fraud of such Indemnified Party or the Indemnified Party is otherwise not entitled to indemnification. (b) The Company acknowledges and agrees that the Company shall, and to the extent applicable shall cause its Controlled Entities to, be fully and primarily responsible for the payment to the Indemnified Parties in respect of Liabilities in connection with any Jointly Indemnifiable Claims (as defined below), pursuant to and in accordance with (as applicable) the terms of (i) General Corporation Law of the State of Delaware, (ii) this Agreement, (iii) any other agreement between the Company or any Controlled Entity and the Indemnified Parties pursuant to which the Indemnified Parties are indemnified, (iv) the laws of the jurisdiction of incorporation or organization of any Controlled Entity and/or (v) the certificate of incorporation, certificate of organization, bylaws, partnership agreement, shareholders agreement, operating agreement, certificate of formation, certificate of limited partnership or other organizational or governing documents of any Controlled Entity ((i) through (v) collectively, the “Indemnification Sources”), irrespective of any right of recovery the Indemnified Parties may have from any corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise (other than the Company, any Controlled Entity or the insurer under and pursuant to an insurance policy of the Company or any Controlled Entity) from whom an Indemnified Party may be entitled to indemnification with respect to which, in whole or in part, the Company or any Controlled Entity may also have an indemnification obligation (collectively, the “Indemnified Party-Related Entities”). The Company hereby waives, relinquishes and releases all Indemnified Party-Related Entities from any and all claims against the Indemnified Party-Related Entities for contribution, subrogation or any other recovery and under no circumstances shall the Company or any Controlled Entity be entitled to any right of subrogation or contribution by the Indemnified Party-Related Entities and no right of advancement or recovery an Indemnified Party may have from the Indemnified Party-Related Entities shall reduce or otherwise alter the rights of the Indemnified Party or the obligations of the Company or any Controlled Entity under the Indemnification Sources. In the event that any of the Indemnified Party-Related Entities shall make any payment to an Indemnified Party in respect of indemnification with respect to any Jointly Indemnifiable Claim, (x) the Company shall, and to the extent applicable shall cause its Controlled Entities to, reimburse the Indemnified Party-Related Entity making such payment to the extent of such payment promptly upon written demand from such Indemnified Party-Related Entity, (y) to the extent not previously and fully reimbursed by the Company and/or any Controlled Entity pursuant to clause (x), the Indemnified Party-Related Entity making such payment shall be subrogated to the extent of the outstanding balance of such payment to all of the rights of recovery of the Indemnified Party against the Company and/or any Controlled Entity, as applicable, and (z) the Indemnified Party shall execute all papers reasonably required and shall do all things that may be reasonably necessary to secure such rights, including the execution of such documents as may be necessary to enable the Indemnified Party-Related Entities effectively to bring suit to enforce such rights. The Company and each Indemnified Party agree that each of the Indemnified Party-Related Entities shall be third-party beneficiaries with respect to this Section 3(b) entitled to enforce this Section 3(b) as though each such Indemnified Party-Related Entity were a party to this Agreement. The Company shall cause each of its Controlled Entities to perform the terms and obligations of this paragraph as though each such Controlled Entity was a party to this Agreement. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms For purposes of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Partythis Agreement, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses term (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby “Jointly Indemnifiable Claims” shall be determined by reference tobroadly construed and shall include, among other thingswithout limitation, whether any untrue or alleged untrue statement of material fact or Liabilities for which the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) Indemnified Party shall be entitled to contribution indemnification from both (1) the Company and/or any Person who was not guilty of such fraudulent misrepresentation. Controlled Entity pursuant to the Indemnification Sources, on the one hand, and (d2) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition any Indemnified Party-Related Entity pursuant to any liability the Company may have to other agreement between any Indemnified Party-Related Entity and the Indemnified Party at common law pursuant to which the Indemnified Party is indemnified, the laws of the jurisdiction of incorporation or otherwise; organization of any Indemnified Party-Related Entity and/or the certificate of incorporation, certificate of organization, bylaws, partnership agreement, limited liability company or operating agreement, certificate of formation, certificate of limited partnership or other organizational or governing documents of any Indemnified Party-Related Entity, on the other hand, (ii) the term “Controlled Entity” shall survive mean any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise controlled by the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures Company and (iii) shall remain operative the term “control” (including, with correlative meanings, the terms “controlling”, “controlled by” and in full force “under common control with”), as used with respect to any person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and effect regardless policies of any investigation made such person, whether through the ownership of voting securities, by contract or on behalf of Purchaser or any other Indemnified Partyotherwise.

Appears in 2 contracts

Sources: Service Agreement (Medline Inc.), Service Agreement (Medline Inc.)

Indemnification. Within thirty (a30) The Company agrees days after KNET requests subject to indemnify this Article, Party B shall, to the maximum extent permitted by law and at its own cost, indemnify, defend and hold harmless PurchaserParty A, its Affiliatesemployees, directors, managers, representatives, agents and each Personaffiliates from any liabilities caused by any claims, if anylawsuits, who controls Purchaseractions or other proceedings brought against KNET or its affiliates on the basis of, or in connection with, any of its Affiliatesthe following claims: (i) relating to any product or service of Party B; (ii) relating to any agreement with the registered domain holder, within including the meaning dispute resolution policy of Party B; (iii) relating to the Securities Act or domain registration business of Party B, including but not limited to: advertisement, domain application process, system and other process, fees charged, billing practice and customer service of Party B. However, in such circumstance, KNET shall: (1) immediately notify Party B of such claims; and (2) upon the Exchange Act (eachwritten request of Party B, a "Controlling Person"), make reasonable efforts to provide Party B with any useful information and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any assistance which is necessary for it to defend against such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company Party B shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible compensate KNET for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing actually and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expensesincurred therefrom. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have KNET has the right to employ separate counsel in engage an attorney to cope with such action claims or lawsuits; the attorney fees apply to this Article and participate in the defense thereof, but the fees and expenses of Party B shall reimburse KNET for such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaserfees. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without Without the prior written consent of PurchaserKNET, settle or Party B shall not enter into any compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If agreement for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilitiesbut KNET shall not withhold such consent unreasonably. Party B shall pay any and all costs, lossesdamages and expenses, damagesincluding but not limited to reasonable attorney fees and costs awarded against KNET or otherwise incurred by such claims, lawsuits, actions or expenses proceedings or in connection therewith. Representations and Warranties. Party B represents and warrants: (i) it is an organization or a company duly organized, validly existing and in such proportion good standing as is appropriate to reflect a legal person under the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault laws of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwiseits jurisdiction; (ii) shall survive it has the termination necessary legal authority and power to execute, deliver this Agreement and perform the liabilities hereunder; (iii) the execution, performance and delivery of this Agreement have been duly authorized by it; (iv) it is or will be the domain registrar legally certified by ICANN or its successor; (V) it has obtained before executing this Agreement all approvals or authorizations from relevant government agencies or competent organizations which are necessary for exectuing and performing of this Agreement. In the domain name registration agreement signed with the registered name holder, it should stipulate that Party B shall request the registered name holder to indemnify or protect KNET and its subsidiaries, affiliates, subordinates, shareholders, doctors, managers, employees, accountants, attorneys, insurance companies, agents, predecessors, successors and assignees from any claims, demands, losses, costs, expenses, lawsuits or other Transaction Agreements and liabilities (whether known or unknown) resulting from the payment in full registration of the Convertible Debentures domain name by registered name holder or otherwise in connection therewith. The domain name registration agreement should further stipulate that such indemnification obligations shall survive after the termination or expiration of the domain name registration agreement. Party A represents and warrants: (i) it is duly organized and validly existing in the jurisdiction in which the company establishes; (ii) it has the full necessary corporate power and authority to execute and deliver the Agreement and perform the liabilities hereunder; (iii) shall remain operative the execution, performance and in full force and effect regardless delivery of any investigation made by or on behalf of Purchaser or any other Indemnified Partythis Agreement have been legally authorized.

Appears in 2 contracts

Sources: Registrar Accreditation Agreement, Registrar Accreditation Agreement

Indemnification. (a) The Company agrees to indemnify and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, In the event that ABRY or any of its Affiliates, within the meaning of the Securities Act directors, members, or the Exchange Act employees (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties")”) becomes involved in any capacity in any action, proceeding or investigation brought by a third party in connection with the provision of the Services by ABRY, the Company will indemnify and hold harmless the Indemnified Parties from and against any and all losses, actual or threatened claims, damageslawsuits, actions or liabilities (including the out of pocket expenses and the reasonable fees and expenses (including, without limitation of counsel and as incurred, reasonable other litigation and investigation costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be reasonably incurred by such the Indemnified Party in connection with any investigativesuch third party claims, administrative lawsuits, actions or judicial proceeding brought or threatened that relates to or arises out ofliabilities) (“Losses”), or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided arising as a result of the provision of Services, except that the Company will not be responsible for obligated to so indemnify any claimsIndemnified Party if, liabilitiesand to the extent that, lossessuch Losses directly result (i) any such action, damages proceeding or expenses investigation by any party to the Recapitalization Agreement other than Grande Communications Holdings, Inc. or the Grande Holdings Investor (as defined therein) or any affiliates of such a party, (ii) from any illegal activity, bad faith, gross negligence or willful misconduct of such Indemnified Party or (iii) to the extent that such Indemnified Party is adjudged to be liable to the Company. ABRY will certify to the Company in writing all Losses that are determined by final judgment payable to ABRY or other ABRY Indemnified Parties hereunder. The reimbursement and indemnity obligations of a court the Company under this Section 5 shall extend upon the same terms and conditions to any Indemnified Party, as the case may be, of competent jurisdiction ABRY and any such affiliate and shall be binding upon and inure to result from the benefit of any successors, assigns, heirs and personal representatives of the Company, ABRY and any such Indemnified Party's gross negligence. Notwithstanding Section 10 below, willful misconduct the foregoing provisions shall not supersede any obligation of a party hereto to provide indemnification to another party hereto pursuant to any other agreement not related to the provisions of Services hereunder among such parties, or bad faithto release such indemnifying party from any indemnification obligation pursuant to such other agreement. The provisions of this Section 5 shall survive the termination of this Agreement. (b) If In the event that Grande Investment or any action shall be brought against an of its Subsidiaries or any directors or officers thereof (collectively, the “Grande Indemnified Party Parties”) becomes involved in any capacity in any action, proceeding or investigation in connection with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense provision of the CompanyServices by ABRY, ABRY will indemnify and hold harmless the Company shall not have the right to assume the defense Grande Indemnified Parties from and against any Losses arising as a result of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action illegal activity, bad faith, gross negligence or proceeding willful misconduct of ABRY. Grande will certify to ABRY in writing all Losses that are payable to Grande or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaserother Grande Indemnified Parties hereunder. The Company shall not be liable for any settlement reimbursement and indemnity obligations of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted ABRY under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i5(b) shall be in addition to any liability which ABRY may otherwise have, shall extend upon the Company may have same terms and conditions to any Grande Indemnified Party at common law Party, as the case may be, and shall be binding upon and inure to the benefit of any successors or otherwise; (ii) assigns of Grande, or ABB and of any successors, assigns, heirs and personal representatives of such Grande Indemnified Party. The foregoing provisions shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and Agreement. (iiic) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartyIN NO EVENT WILL EITHER PARTY BE LIABLE OR OBLIGATED UNDER THIS AGREEMENT OR UNDER CONTRACT, NEGLIGENCE, BREACH OF WARRANTY, STRICT LIABILITY OR OTHER LEGAL OR EQUITABLE THEORY FOR ANY SPECIAL, INDIRECT, OR CONSEQUENTIAL DAMAGES ARISING OUT OF THIS AGREEMENT OR IN CONNECTION WITH THE DELIVERY, USE OR PERFORMANCE OF THE SERVICES, INCLUDING LOST PROFITS, BUSINESS OPPORTUNITIES AND REVENUES.

Appears in 2 contracts

Sources: Recapitalization Agreement (Grande Communications Holdings, Inc.), Management Services Agreement (Grande Communications Holdings, Inc.)

Indemnification. (a) The Company agrees to indemnify From and after the Effective Time, the Surviving Corporation will, and Parent will cause the Surviving Corporation to, (i) indemnify, defend and hold harmless Purchaserharmless, its Affiliatesto the fullest extent permitted by applicable Law, all past and each Personpresent directors, if any, who controls Purchaser, or any of its Affiliates, within the meaning officers and employees of the Securities Act or the Exchange Act Company and any Company Subsidiary and all fiduciaries under any Company Benefit Plans (each, together with such person’s heirs, executors or administrators, a "Controlling Person"“Company Indemnified Party”) against any costs, expenses (including attorneys’ fees and expenses and disbursements), and the respective partnersjudgments, agentsfines, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, damages or liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigativeProceeding, whether civil, criminal, administrative or judicial proceeding brought investigative, arising out of or threatened that relates pertaining to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided the fact that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party is or was a director, officer, employee or fiduciary of the Company or any of the Company Subsidiaries or a fiduciary under any Company Benefit Plan or is or was serving at the request of the Company or any of the Company Subsidiaries as a director, officer or employee of any other corporation, limited liability company, partnership, joint venture, trust or other business or non-profit enterprise (including any employee benefit plan) whether asserted or claimed prior to, at or after the Effective Time (including with respect to which indemnity may be sought against the consummation of the transactions contemplated by this Agreement), and provide advancement of expenses to the Company under this Agreement, such Indemnified Parties (within ten (10) days of receipt by Parent or the Surviving Corporation from a Company Indemnified Party shall promptly notify the Company in writing of a request therefor) and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Companynot settle, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding Proceeding (in respect to which indemnification or contribution may could be sought hereunder (whether or not any by a Company Indemnified Party is a party thereto) hereunder), unless such settlement, compromise, compromise or consent or termination includes an express unconditional release of Purchaser and the other such Company Indemnified Parties, satisfactory in form and substance to Purchaser, Party from all liability arising out of such actionProceeding or such Company Indemnified Party otherwise consents in writing. (b) In addition to the obligations set forth in Section 5.10(a), claimfrom and after the Effective Time, suit the Surviving Corporation and its Subsidiaries will, and Parent will cause the Surviving Corporation and its Subsidiaries to, honor and maintain in effect for a period of six years from the Effective Time (i) all rights to indemnification, advancement of expenses and exculpation of each Company Indemnified Party as provided in their respective Constituent Documents as in effect on the date of this Agreement and (ii) all rights to indemnification and advancement of expenses of each Company Indemnified Party as provided in any indemnification or proceedingother agreement, to which the Company or any of its Subsidiaries is a party. Parent further agrees that it shall not, and shall cause the Surviving Corporation and its Subsidiaries not to, amend, repeal or otherwise modify any of the foregoing provisions in any manner that would adversely affect the rights thereunder of the Company Indemnified Parties and that all rights to exculpation, indemnification and advancement of expenses in respect of any Proceeding pending or asserted or any claim made within such period shall continue until the final disposition of such Proceeding. (c) If for any reason For a period of six years from the foregoing indemnity is unavailable (otherwise than pursuant Effective Time, the Surviving Corporation will maintain, and Parent will cause to be maintained, in effect the coverage provided by the policies of directors’ and officers’ liability insurance and fiduciary liability insurance in effect as of the Effective Time by the Company and the Company Subsidiaries from a carrier with the same or better credit ratings to the express terms Company’s existing directors’ and officers’ insurance and fiduciary liability insurance policy carrier and with terms, conditions, retentions and levels of coverage not less favorable to the insured Persons than the directors’ and officers’ liability insurance and fiduciary liability insurance coverage currently maintained by the Company with respect to claims arising from facts, events, acts or omissions that occurred on or before the Effective Time, except that in no event will Parent be required to pay an annual premium for such indemnity) insurance in excess of 300% of the Company’s current annual premium for its policies of directors’ and officers’ liability insurance and fiduciary liability insurance in effect as of the Effective Time (the “Premium Cap”); provided, however, that if such insurance can only be obtained at an annual premium in excess of the Premium Cap, Parent will obtain the policy of directors’ and officers’ insurance with the best overall terms, conditions, retentions and levels of coverage available for an annual premium equal to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in the Premium Cap. In lieu of indemnifying such Indemnified Partythe foregoing, the Company shall contribute may in its discretion purchase, and Parent may in its discretion purchase if the Company declines to do so, a “tail” directors’ and officers’ liability insurance and fiduciary liability insurance policy covering the six-year period from and after the Effective Time from a carrier with the same or better credit ratings to the amount paid or payable by such Indemnified Party as a result Company’s existing directors’ and officers’ insurance and fiduciary liability insurance policy carrier and with terms, conditions, retentions and levels of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate coverage not less favorable to reflect the relative benefits received insured Persons than the directors’ and officers’ liability insurance and fiduciary liability insurance coverage currently maintained by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to claims arising from facts, events, acts or omissions that occurred on or before the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationEffective Time. (d) The indemnificationIn the event that either Parent or the Surviving Corporation or any of its successors or assigns (i) consolidates with or merges into any other Person and is not the continuing or surviving corporation or entity of such consolidation or merger or (ii) transfers or conveys all or substantially all of its properties, contribution rights and expense reimbursement other assets to any Person, then, and in each such case, Parent shall, and shall cause the Surviving Corporation to, cause proper provision to be made so that such successor or assign shall expressly assume the obligations set forth in this Section 13.3 5.10. (ie) The provisions of this Section 5.10 shall survive consummation of the Merger, are intended to be for the benefit of, and will be enforceable by, each indemnified or insured party (including the Company Indemnified Parties), his or her heirs, executors and administrators and his or her representatives and are in addition to, and not in substitution for, any other rights to indemnification, advancement or contribution that any liability the Company such Person may have to any Indemnified Party at common law by Law, Contract or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 2 contracts

Sources: Merger Agreement (Rockwood Holdings, Inc.), Merger Agreement (Albemarle Corp)

Indemnification. (a) The Company agrees to will indemnify and hold harmless PurchaserCarlyle and its officers, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partnersemployees, agents, employeesrepresentatives, officers members and Directors of Purchaser, their Affiliates and any such Controlling Person affiliates (each being an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, costs, expenses, claims, damagesdamages and liabilities (the "Liabilities") to which such Indemnified Party may become subject under any applicable law, liabilities or any claim made by any third party, or otherwise, to the extent they relate to or arise out of the performance of the Services contemplated by this Agreement or the engagement of Carlyle pursuant to, and the performance by Carlyle of the Services contemplated by, this Agreement. The Company will reimburse any Indemnified Party for all reasonable costs and expenses (includingincluding reasonable attorneys' fees and expenses) as they are incurred in connection with the investigation of, without limitation and as incurredpreparation for or defense of any pending or threatened claim for which the Indemnified Party would be entitled to indemnification under the terms of the previous sentence, reasonable costs of investigating, preparing or defending any such claim action or actionproceeding arising therefrom, whether or not such Indemnified Party is a party theretohereto, provided that that, subject to the following sentence, the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereofthereof at its own expense, including the employment of with counsel reasonably satisfactory to such Indemnified Party and payment of all in its reasonable fees and expensesjudgment. The failure to so notify the Company shall not affect any obligations the Company may have to such Any Indemnified Party under this Agreement may, at its own expense, retain separate counsel to participate in such defense, and in any action, claim or otherwise unless proceeding in which the Company Company, on the one hand, and an Indemnified Party, on the other hand, is, or is materially adversely affected by reasonably likely to become, a party, such failure. Such Indemnified Party shall have the right to employ separate counsel in at the Company's expense and to control its own defense of such action and participate action, claim or proceeding if, in the defense thereof, but the fees and expenses reasonable opinion of such counsel shall be at the expense of to such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel a conflict or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and potential conflict exists between the Company, on the one hand, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, howeveron the other hand, that the Company shall not, in connection with any one would make such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaserrepresentation advisable. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company that it will not, without the prior written consent of Purchaserthe applicable Indemnified Party, settle or settle, compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit action or proceeding in respect relating to which indemnification or contribution may be sought hereunder the matters contemplated hereby (whether or not if any Indemnified Party is a party thereto or has been actually threatened to be made a party thereto) unless such settlement, compromise, compromise or consent or termination includes an express unconditional release of Purchaser the applicable Indemnified Party and the each other Indemnified Parties, satisfactory in form and substance to Purchaser, Party from all liability arising or that may arise out of such actionclaim, action or proceeding. Provided that the Company is not in breach of its indemnification obligations hereunder, no Indemnified Party shall settle or compromise any claim subject to indemnification hereunder without the consent, of the Company. The Company will not be liable under the foregoing indemnification provision to the extent that any loss, claim, suit damage, liability, cost or proceeding. (c) expense is determined by a court, in a final judgment from which no further appeal may be taken, to have resulted solely from the gross negligence or willful misconduct of Carlyle. If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmlessis reimbursed hereunder for any expenses, then in lieu such reimbursement of indemnifying such Indemnified Party, the Company expenses shall contribute be refunded to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) extent it is finally judicially determined that the Liabilities in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other question resulted solely from the transactions contemplated by this Agreement gross negligence or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault willful misconduct of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationCarlyle. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 2 contracts

Sources: Management Consulting Agreement (Dex Media Inc), Management Consulting Agreement (Dex Media International Inc)

Indemnification. (a) The Company agrees Lenders agree to indemnify and hold harmless Purchaser, its Affiliates, each Agent and each Personof their respective officers, if anydirectors, who controls Purchaseremployees, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act representatives and agents (each, a an "Controlling PersonINDEMNIFIED PARTY") (to the extent not reimbursed by the Borrower), and ratably according to the respective partnersprincipal amounts of the Notes then held by each of them (or if no Notes are at the time outstanding or if any Notes are held by Persons that are not Lenders, agents, employees, officers and Directors ratably according to the respective amounts of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"Commitments), from and against any and all liabilities, obligations, losses, claims, damages, liabilities penalties, actions, judgments, suits, costs, expenses, settlements, injuries (to persons, property or natural resources) or disbursements of any kind or nature whatsoever that may be imposed on, incurred by, or asserted against such Agent in any way relating to or arising out of this Agreement and expenses (includingthe other Loan Documents or any action taken, without limitation and as incurred, reasonable costs of investigating, preparing suffered or defending any such claim or action, whether or not omitted by such Indemnified Party is a party theretounder this Agreement and the other Loan Documents (collectively, the "INDEMNIFIED COSTS"), provided that no Lender shall be liable for any portion of the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received Costs resulting from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be Party's gross negligence or willful misconduct, as finally determined by final judgment of a court of competent jurisdiction that such jurisdiction. Without limitation of the foregoing, each Lender agrees to reimburse each Indemnified Party was not entitled to indemnification hereunder with respect to such costspromptly upon demand for its ratable share of any out-of-pocket expenses (including counsel fees) which may be incurred by such Indemnified Party in connection with any investigativethe preparation, administrative execution, delivery, administration, modification, amendment or judicial proceeding brought enforcement (whether through negotiations, legal proceedings or threatened that relates to or arises out otherwise) of, or is legal advice in connection with any activities contemplated by any Transaction respect of rights or responsibilities under, this Agreement or any and the other services rendered in connection herewith; provided Loan Documents, to the extent that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify is not reimbursed for such expenses by the Company in writing and Borrower. In the Companycase of any investigation, at its optionlitigation or proceeding giving rise to any Indemnified Costs, maythis Section 7.05 applies whether any such investigation, assume litigation or proceeding is brought by the defense thereofAdministrative Agent, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expensesany Lender or a third party. The failure costs and expenses incurred in enforcing this right of indemnification shall be paid by the Lenders. Anything to so notify the Company contrary notwithstanding, in no event shall the Collateral Agent be liable for special, punitive, indirect, consequential or incidental loss or damage of any kind whatsoever (including but not affect any obligations the Company may have limited to such Indemnified Party under lost profits) arising out of this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have other Loan Documents, even if the right to employ separate counsel in such action and participate in Collateral Agent has been advised of the defense thereof, but the fees and expenses likelihood of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel loss or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense damage. The obligations of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth Lenders contained in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) 7.05 shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full earlier resignation or removal of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartyCollateral Agent.

Appears in 2 contracts

Sources: Credit Agreement (Macquarie Infrastructure CO Trust), Credit Agreement (Macquarie Infrastructure CO Trust)

Indemnification. (a) The Company agrees to indemnify and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall CITY LOOKS will not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to person for damages arising out of, from, in connection with, or as a result of the Company FRANCHISEE'S negligence or the costs so advanced if it should be determined operation of the FRANCHISEE'S City Looks business. The FRANCHISEE will indemnify and hold CITY LOOKS harmless against all claims, lawsuits, damages, obligations, liability, actions and judgments alleged or obtained by final judgment of any person or entity against CITY LOOKS arising out of, from, as a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party result of, or in connection with any investigativethe FRANCHISEE'S negligence, administrative or judicial proceeding brought or threatened that relates to or arises out ofthe operation of the FRANCHISEE'S City Looks business, the Franchised Location, or is in connection any business conducted by the FRANCHISEE pursuant to this Agreement including, without limitation, any claims arising from or relating to: (A) any personal injury, property damage, commercial loss or environmental contamination resulting from any act or omission of the FRANCHISEE or its employees, agents or representatives; (B) any failure on the part of the FRANCHISEE to comply with any activities contemplated by requirement of any Transaction governmental authority; (C) any failure of the FRANCHISEE to pay any of its obligations; or (D) any failure of the FRANCHISEE to comply with any requirement or condition of this Agreement or any other services rendered in connection herewith; provided that agreement with CITY LOOKS or any affiliate of CITY LOOKS. Further, the Company FRANCHISEE will not be responsible indemnify and will reimburse CITY LOOKS for any claims, liabilities, losses, all such obligations and damages or expenses that are determined for which CITY LOOKS is held liable and for all costs reasonably incurred by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate CITY LOOKS in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such claims brought against it or in any action (including in which it is named as a party including, without limitation, costs for attorneys' fees actually incurred, investigation expenses, court costs, deposition expenses and travel and living expenses. CITY LOOKS will have the absolute right to defend any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel claim made against it that there may be one or more legal defenses available to it which are different results from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising arises out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceedingFRANCHISEE'S City Looks business. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 2 contracts

Sources: Franchise Agreement (Barbers Hairstyling for Men & Women Inc), Franchise Agreement (Barbers Hairstyling for Men & Women Inc)

Indemnification. (a) The In connection with the Underwriter's engagement (which engagement may have commenced prior to the date hereof), the Company agrees to indemnify and hold harmless Purchaserthe Underwriter and its affiliates and the respective directors, officers, employees, agents and partners of the Underwriter and its Affiliatesaffiliates, and each Person, if any, who controls Purchaser, other person controlling the Underwriter or any of its Affiliates, affiliates within the meaning of either Section 15 of the Securities Act of 1933 or Section 20 of the Securities Exchange Act of 1934 (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Underwriter Indemnified Parties")) to the full extent lawful, from and against all losses, claims, damages or liabilities resulting from any legal action, investigation or other proceeding to which any Underwriter Indemnified Party may become subject as a result of or arising out of this engagement and will reimburse any Underwriter Indemnified Party for all reasonable expenses (including reasonable counsel fees) incurred by such Underwriter Indemnified Party in connection with investigating, defending or settling any such matter or enforcing any rights hereunder. Notwithstanding the foregoing, the Company shall not be liable to an Underwriter Indemnified Party in respect of any loss, claim, damage, liability or expense to the extent of the same is determined, in a final judgment by a court of competent jurisdiction, to have resulted from the gross negligence or bad faith of such Underwriter Indemnified Party. The Company also agrees that neither the Underwriter, nor any of its affiliates, nor officer, director, employee or agent of the Underwriter or any of its affiliates, nor any person controlling the Underwriter or any of its affiliates, shall have any liability to the Company for or in connection with such engagement except for any such liability for losses, claims, damages, liabilities and or expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that incurred by the Company that is finally judicially determined to have resulted from the Underwriter's gross negligence or bad faith. Notwithstanding the foregoing, the Underwriter shall not be obligated required to advance such costs indemnify or reimburse the Company for expenses hereunder in an amount, in the aggregate, in excess of any fees paid pursuant to Section 7 above. The foregoing shall be in addition to any rights that the Underwriter or any Underwriter Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative have at common law or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faithotherwise. (b) If Upon receipt of notice of any claim or the commencement of any such action shall be brought against an Indemnified Party with respect to which indemnity may is to be sought against the Company under this Agreementsought, such an Indemnified Party shall promptly notify the Company in writing and indemnifying party of such claim or the Company, at its option, may, assume the defense thereof, including the employment commencement of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failureaction. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) reasonably acceptable to the Company has failed to assume the defense and employ counsel defend such claim or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity indemnification is unavailable (otherwise than pursuant to the express terms of such indemnity) to an any Indemnified Party or insufficient to hold an Indemnified Party harmless, it harmless as contemplated herein then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such the Indemnified Party as a result of such claimsloss, liabilitiesclaim, lossesdamage, damages, liability or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, expense in such proportion as is appropriate to reflect not only the relative benefits received by the Company and its affiliates, on the one hand hand, and Purchaser the Underwriter and the Indemnified Party, on the otherother hand, but also the relative fault of the Company and Purchaser its affiliates and the Underwriter or any Indemnified Party, as the case may be, as well as any other relevant equitable considerations. Notwithstanding , provided, however, that in no event shall the provisions Underwriter be required to contribute any amount in excess of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and any fees actually received by Purchaser paid to it pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation7 above. (d) The indemnificationreimbursement, indemnity and contribution and expense reimbursement obligations set forth in this Section 13.3 (i) by the Company or Underwriter hereunder shall be in addition to any liability which any party may otherwise have, and shall be binding upon and accrue to the Company may have to benefit of any successors, assigns, heirs and personal representatives of the Company, and any Indemnified Party at common law or otherwise; (ii) Party. The foregoing provisions relating to reimbursement, indemnification and contribution shall survive the any termination of the Underwriter's engagement under this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Partyletter.

Appears in 2 contracts

Sources: Agency Agreement (Lafayette Community Bancorp), Agency Agreement (Lafayette Community Bancorp)

Indemnification. (a) The Company agrees to indemnify and hold harmless the Purchaser, and its Affiliatesdirectors, officers, stockholders, members, partners, employees and agents (and any other persons with a functionally equivalent role of a person holding such titles notwithstanding a lack of such title or any other title), each Person, if any, person who controls Purchaser, or any of its Affiliates, the Purchaser (within the meaning of Section 15 of the Securities Act or and Section 20 of the Exchange Act (each, a "Controlling Person"Act), and the respective partnersdirectors, officers, stockholders, agents, employeesmembers, officers and Directors of Purchaser, their Affiliates partners or employees (and any other persons with a functionally equivalent role of a person holding such Controlling Person titles notwithstanding a lack of such title or any other title) of such controlling person (each an "Indemnified Party") and collectively, the "Indemnified Parties"“Purchaser Indemnitees”), from and against any and all losses, liabilities, claims, damages, liabilities costs, fees and expenses whatsoever (including, without limitation including any and as incurred, reasonable costs of all expenses incurred in investigating, preparing or defending against any such claim litigation commenced or action, whether threatened) based upon or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises arising out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company’s breach of any representation, the Company shall not have the right to assume the defense of such action warranty or proceeding on behalf of such Indemnified Party, covenant contained herein; provided, however, that the Company will not be liable in any such case to the extent and only to the extent that any such loss, liability, claim, damage, cost, fee or expense arises out of or is based upon the inaccuracy of any representations made by such indemnified party in this Agreement, or the failure of such indemnified party to comply with the covenants and agreements contained herein. The liability of the Company under this paragraph shall notnot exceed the total Purchase Price paid by the Purchaser for the Securities hereunder. (b) Promptly after receipt by an indemnified party under this Section 6 of notice of the commencement of any Action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 6, notify the indemnifying party promptly in writing of the commencement thereof; but the omission so to notify the indemnifying party will not relieve it from any liability which it may have to any indemnified party under this Section 6 except to the extent the indemnified party is actually prejudiced by such omission. In case any such Action is brought against any indemnified party, and it notifies the indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein, and to the extent that it may elect by written notice delivered to the indemnified party promptly after receiving the aforesaid notice from such indemnified party, to assume the defense thereof, with counsel satisfactory to such indemnified party; provided, however, if the defendants in any such Action include both the indemnified party and the indemnifying party and either (i) the indemnifying party or parties and the indemnified party or parties mutually agree or (ii) representation of both the indemnifying party or parties and the indemnified party or parties by the same counsel is inappropriate under applicable standards of professional conduct due to actual or potential differing interests between them, the indemnified party or parties shall have the right to select separate counsel to assume such legal defenses and to otherwise participate in the defense of such Action on behalf of such indemnified party or parties. Upon receipt of notice from the indemnifying party to such indemnified party of its election so to assume the defense of such Action and approval by the indemnified party of counsel, the indemnifying party will not be liable to such indemnified party under this Section 6 for any reasonable legal or other expenses subsequently incurred by such indemnified party in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings the defense thereof unless (i) the indemnified party shall have employed counsel in connection with the same jurisdiction arising out assumption of legal defenses in accordance with the same general allegations or circumstancesproviso to the next preceding sentence (it being understood, however, that the indemnifying party shall not be responsible hereunder liable for the reasonable fees and expenses of more than one separate counsel in such firm of separate counselcircumstance), in addition to any local counsel, which counsel shall be designated by Purchaser. The Company (ii) the indemnifying party shall not be liable for any settlement have employed counsel satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of any such action effected without the written consent commencement of the Company Action or (which shall not be unreasonably withheldiii) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason indemnifying party has authorized the employment of settlement of any action effected with counsel for the consent indemnified party at the expense of the Companyindemnifying party. In addition, the Company will not, No indemnifying party shall (i) without the prior written consent of Purchaserthe indemnified parties (which consent shall not be unreasonably withheld), settle or compromise or consent to the entry of any judgment in or otherwise seek with respect to terminate any pending or threatened action, claim, suit or proceeding Action in respect to of which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party theretothe indemnified parties are actual or potential parties to such Action) unless such settlement, compromisecompromise or consent requires only the payment of money damages by the indemnifying party, consent does not subject the indemnified party to any continuing obligation or termination require any admission of criminal or civil responsibility, and includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, each indemnified party from all liability arising out of such actionAction, claimor (ii) be liable for any settlement of any such Action effected without its written consent (which consent shall not be unreasonably withheld), suit but if settled with its written consent or proceedingif there be a final judgment of the plaintiff in any such Action, the indemnifying party agrees to indemnify and hold harmless any indemnified party from and against any loss or liability by reason of such settlement or judgment. (c) If The Purchaser acknowledges on behalf of itself and each Purchaser Indemnitee that, other than for actions seeking specific performance of the obligations under this Agreement, the sole and exclusive remedy of the Purchaser and the Purchaser Indemnitees with respect to any reason the foregoing indemnity is unavailable (otherwise than and all claims relating to this Agreement shall be pursuant to the express terms of such indemnityindemnification provisions (including the limitations thereof) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party6.

Appears in 2 contracts

Sources: Securities Purchase Agreement (Transphorm, Inc.), Securities Purchase Agreement (Transphorm, Inc.)

Indemnification. (a) The Company agrees to 19.1. Party B shall defend, indemnify and hold harmless PurchaserParty A, its Affiliatessuccessors, assigns, subsidiaries, parents, customers and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), those selling and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), using Party A’s products from and against any and all costs, including without limitation reasonable attorney’s fees, damages and liabilities resulting from actual or alleged infringement of or interference with any patent, trademark, copyright, trade secret, proprietary right, license or other right, unless such claim for infringement or interference is based solely upon drawings and specifications furnished to Party B by Party A. Party B also agrees upon receipt of notification to promptly assume full responsibility for defense of any demand, suit or proceeding which may be brought against Party A, its agents, customers or other vendors for any alleged unfair competition resulting from similarity in design, trademark or appearance of goods or services furnished hereunder. Party A may be represented by and actively participate through its own counsel in any suit or proceeding if it so desires, and the costs of such representation shall be paid by Party B. Party B shall not settle any claims against or involving Party A without written consent of Party A unless such settlement releases Party A in full from all liabilities and does not contain any obligations in respect of Party A. 19.2. Party B shall, in the event of complaints, claims or legal actions alleging damage or injury resulting from the purchase, sale or use of the Tooling, the Products or services described herein, indemnify, defend and hold Party A harmless from and against any and all such liabilities and costs, including without limitation, all expenses, losses, claimsroyalties, profits, damages, liabilities court costs and expenses (includingreasonable attorney’s fees, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees full responsibility and expenses of such counsel shall be at the expense of such Indemnified Partyinvestigation, unless (i) the Company has failed to assume the defense litigation and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not complaints, claims or legal actions. Party A may be unreasonably withheld) represented by and actively participate through its own counsel in any suit or proceeding if it so desires, and the Company costs of such representation shall be paid by Party B. Party B agrees to include this clause in any subcontracts issued hereunder. 19.3. Party B shall defend, indemnify and hold Party A harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, claims or expenses (i) liabilities and expenses, including reasonable attorney’s fees, arising or resulting in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution way from any Person who was not guilty defect in the Products or services purchased hereunder, or from any act or omission of such fraudulent misrepresentation. (d) The indemnificationParty B, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) its agents, employees or subcontractors. This indemnification shall be in addition to the warranty obligations of Party B. 19.4. If any liability article, apparatus, material, component or part thereof, or any device or process necessarily resulting from the Company may have use thereof or process or method for using the Products, is held in a suit or proceeding to any Indemnified Party at common law constitute infringement or otherwise; (ii) shall survive the termination of this Agreement misappropriation, and the other Transaction Agreements manufacture, sale or use of the article, apparatus, material, component, part, device, process or method is enjoined, Party B shall, at its own expense and at Party A’s sole option, either (a) procure for Party A the right to continue making, using or selling the article, apparatus, material, component, part, device, process or method, (b) if the form, fit, function or performance thereof will not be materially adversely affected, replace the same with a noninfringing article, apparatus, material, component, part, device, process or method, or modify it so it becomes noninfringing, or (c) remove the article, apparatus or material or component and refund to Party A the total Product Purchase Price in aggregate during the Term and the payment in full of the Convertible Debentures transportation and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Partyinstallation costs thereof.

Appears in 2 contracts

Sources: Master Tooling and Product Supply Agreement (YETI Holdings, Inc.), Master Tooling and Product Supply Agreement (YETI Holdings, Inc.)

Indemnification. Each party required to deliver an Assessment of Compliance and an Accountant’s Attestation and/or an Item 1123 Certificate under Article XIV (aeach, a “Responsible Party”) The Company agrees to shall indemnify and hold harmless Purchaserthe Trust Administrator, its Affiliates, the Master Servicer and the Depositor and each Personof their directors, if anyofficers, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partnersemployees, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), affiliates from and against any and all claims, losses, claims, damages, liabilities penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses arising out of or based upon (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending a) any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred breach by such Indemnified Responsible Party of any if its obligations under this Article XIV including particularly its obligation to provide any Back-Up Certification, any Assessment of Compliance and an Accountant’s Attestation and/or an Item 1123 Certificate or any information, data or materials required to be included in any Exchange Act report, (b) any misstatement or omission in any information, data or materials provided by such Responsible Party (or, in the case of the Trust Administrator or Master Servicer, any material misstatement or material omission in (i) any 1123 Certification, Assessment of Compliance or Accountant’s Attestation delivered by it, or by any Servicing Function Participant engaged by it, pursuant to this Agreement or (ii) any additional Form 10-D, Form 10-K or Form 8-K disclosure concerning the Master Servicer or the Trust Administrator, or (c) the negligence, bad faith or willful misconduct of such Responsible Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement performance of any such action effected without if its obligations hereunder. If the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If provided for any reason the foregoing indemnity herein is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmlessharmless the Master Servicer, the Trust Administrator or the Depositor, then in lieu of indemnifying such Indemnified Party, the Company each Responsible Party agrees that it shall contribute to the amount paid or payable by such Indemnified Party Trust Administrator, the Master Servicer or the Depositor, as applicable, as a result of such any claims, liabilities, losses, damagesdamages or liabilities incurred by the Master Servicer, the Trust Administrator or expenses (i) the Depositor, as applicable, in such proportion as is appropriate to reflect the relative benefits received by fault of Trust Administrator or the Company Depositor, as applicable, on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable lawsuch Responsible Party, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) This indemnification shall survive the termination of this Agreement and or the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless termination of any investigation made by or on behalf of Purchaser or any other Indemnified Partyparty to this Agreement.

Appears in 2 contracts

Sources: Pooling and Servicing Agreement (CSAB Mortgage-Backed Trust 2006-3), Pooling and Servicing Agreement (CSAB Mortgage-Backed Trust 2006-4)

Indemnification. (a) The Company agrees to Corporation will indemnify and hold save harmless Purchaser, its Affiliates, the Indemnified Party and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning heirs and legal representatives of the Securities Act or Indemnified Party to the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), fullest extent permitted by applicable law: 1.1 from and against all Expenses (as defined below) reasonably sustained or incurred by the Indemnified Party in respect of any and all lossescivil, claimscriminal, damagesadministrative, liabilities and expenses investigative or other Proceeding (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or actiondefined below), whether or not such brought by the Corporation, to which the Indemnified Party is made a party thereto, provided that by reason of being or having been a director or officer of the Company shall not be obligated to advance such costs to Corporation except for any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay Expense attributable to the Company Indemnified Party’s not having acted honestly and in good faith with a view to the costs so advanced if it should be determined by final judgment best interests of the Corporation and, in the case of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, criminal or administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such that is enforced by a monetary penalty, the Indemnified Party, provided, however, ’s not having had reasonable grounds for believing that the Company shall not, in connection with any one such action his or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party her conduct was lawful; and 1.2 from and against any loss all Expenses reasonably sustained or liability incurred by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claimsserving as a director or officer of the Corporation in respect of any act, liabilitiesmatter, lossesdeed or thing whatsoever made, damagesdone, committed, permitted or expenses (i) acquiesced in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement Indemnified Party as a director or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault officer of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other thingsCorporation, whether any untrue before or alleged untrue statement of material fact or after the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination effective date of this Agreement and whether or not related to a Proceeding brought by the Corporation. Subject to applicable law, this indemnity will apply without reduction regardless of whether the Indemnified Party committed any fault or omitted to do anything that the Indemnified Party ought to have done. This indemnity will not apply to (a) claims initiated by the Indemnified Party against the Corporation or any subsidiary except for claims relating to the enforcement of this Agreement, and (b) claims by the Corporation for the forfeiture and recovery by the Corporation of compensation, including bonuses, received by the Indemnified Party from the Corporation due to the Indemnified Party's violation of applicable securities or other Transaction Agreements and laws. To the payment extent prior court or other approval is required in full connection with any indemnification obligation of the Convertible Debentures Corporation hereunder, the Corporation will seek and (iii) shall remain operative and use all reasonable efforts to obtain that approval as soon as reasonably possible in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Partythe circumstances.

Appears in 2 contracts

Sources: Indemnification Agreement (Cynapsus Therapeutics Inc.), Indemnification Agreement (Cynapsus Therapeutics Inc.)

Indemnification. (a) The Company agrees to NewCo shall indemnify each Standby Purchaser and its affiliates and hold each of them harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all liabilities, losses, claims, damages, liabilities costs and expenses of any kind (including, without limitation limitation, the reasonable fees and as incurred, reasonable costs disbursements of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party Standby Purchaser’s counsel in connection with any investigative, administrative or judicial proceeding brought proceeding), that may be incurred by such Standby Purchaser or threatened such affiliates as a result of any claims made against such Standby Purchaser or such affiliates by any person that relates relate to or arises arise out ofof any breach by NewCo of any of its representations, warranties or is covenants contained in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faiththis Agreement. (b) If FMA shall indemnify NewCo and its affiliates and hold each of them harmless from and against any and all liabilities, losses, damages, costs and expenses of any kind (including, without limitation, the reasonable fees and disbursements of such Standby Purchaser’s counsel in connection with any investigative, administrative or judicial proceeding), that may be incurred by NewCo or its affiliates as a result of any claims made against such NewCo or its affiliates by any person that relate to or arise out of any breach by FMA of any of its representations, warranties or covenants contained in this Agreement. (c) Any person entitled to indemnification hereunder (“Indemnified Party”) will (i) give prompt notice to the party required to provide the indemnification pursuant to this Article VII (the “Indemnifying Party”) of any third party claim, action or suit with respect to which it seeks indemnification (the “Claim”) (but omission of such notice shall be brought against an not relieve Indemnifying Party from liability hereunder except to the extent it is actually prejudiced by such failure to give notice), specifying in reasonable detail the factual basis for the Claim, the amount thereof, estimated in good faith, and the method of computation of the Claim, all with reasonable particularity and containing a reference to the provisions of this Agreement in respect of which such indemnification is sought with respect to the Claim, and (ii) unless in such Indemnified Party’s reasonable judgment a conflict of interest may exist between such Indemnified Party and Indemnifying Party with respect to which indemnity may be sought against the Company under this Agreementsuch claim, such Indemnified permit Indemnifying Party shall promptly notify the Company in writing and the Company, at its option, may, to assume the defense thereof, including of the employment of Claim with counsel reasonably satisfactory to such the Indemnified Party. The Indemnified Party and payment shall cooperate fully with Indemnifying Party with respect to the defense of all reasonable fees and expenses. The failure the Claim and, if Indemnifying Party elects to so notify assume control of the Company shall not affect any obligations defense of the Company may have to such Indemnified Party under this Agreement or otherwise unless Claim, the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereofof the Claim at its own expense. If Indemnifying Party does not elect to assume control or otherwise participate in the defense of the Claim, but then the fees and expenses Indemnified Party may defend through counsel of its own choosing. If such counsel shall be at the expense of such Indemnified defense is not assumed by Indemnifying Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties Indemnifying Party will not be subject to any liability under this Agreement or otherwise for any settlement made without its consent (but such action (including any impleaded parties) include such Indemnified consent will not be unreasonably withheld or delayed). If Indemnifying Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right or is entitled to assume the defense of such action or proceeding on behalf of such Indemnified Partya Claim, provided, however, that Indemnifying Party will not be obligated to pay the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference toClaim, among unless an actual conflict of interest exists between such Indemnified Party and any other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationIndemnified Parties with respect to the Claim, in which event Indemnifying Party will be obligated to pay the fees and expenses of such additional counsel or counsels. (d) The indemnificationrepresentations, contribution warranties and expense reimbursement obligations set forth covenants of NewCo and each of the Standby Purchasers contained in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) Agreement shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified PartyClosing hereunder.

Appears in 2 contracts

Sources: Standby Purchase Agreement, Standby Purchase Agreement (Esmark INC)

Indemnification. (a) The Company agrees to indemnify and hold harmless PurchaserUB, its Affiliates, Natixis and each Personof their respective, if anysubsidiaries, who controls Purchaser, or any of its Affiliates, within the meaning affiliates and each of the Securities Act or the Exchange Act foregoing’s respective directors, officers, employees, advisors and agents (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against (and will reimburse each Indemnified Party as the same are incurred) any and all losses, claims, damages, liabilities liabilities, and expenses (including, without limitation and as incurredlimitation, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such outside counsel) that are incurred by or awarded against any Indemnified Party, unless in each case arising out of or in connection with or by reason of (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Companyincluding, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall notwithout limitation, in connection with any one such action investigation, litigation or proceeding or separate but substantially similar or related actions or proceedings preparation of a defense in connection therewith) this Commitment Letter, the same jurisdiction arising out Existing Commitment Letter, the Fee Letter, the Facility, any portion thereof, any of the same general allegations other transactions contemplated thereby, or circumstancesany use made or proposed to be made with the proceeds thereof, be responsible hereunder for the reasonable fees REGARDLESS OF WHETHER THE INDEMNIFIED PARTY IS A PARTY THERETO AND INCLUDING ANY LOSSES, CLAIMS, DAMAGES, LIABILITIES AND EXPENSES ARISING FROM THE SOLE OR CONTRIBUTORY NEGLIGENCE OF AN INDEMNIFIED PARTY but excluding any losses, claims, damages, liabilities and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry extent that they result primarily from the gross negligence or willful misconduct of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as determined in a result final, nonappealable judgment by a court of competent jurisdiction. In the case of any investigation, litigation or proceeding to which the indemnity in this paragraph applies, such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby indemnity shall be determined by reference toeffective whether or not its investigation, among other things, whether any untrue litigation or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied proceeding is brought by the Company or by Purchaser and the parties' relative intentTarget, knowledge, access to information and opportunity to correct any subsidiary or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) affiliate of the Securities Act) Company or the Target, any shareholder or creditor of the Company or the Target, or an Indemnified Party and whether or not the Facility is consummated. The Company agrees that no Indemnified Party shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to have any liability to the Company may have or to its subsidiaries, affiliates, security holders or creditors for any Indemnified Party at common law indirect or otherwise; (ii) shall survive consequential damages arising out of, related to or in connection with this Commitment Letter, the termination of this Agreement and Existing Commitment Letter, the other Transaction Agreements and Fee Letter, the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser Facility or any other Indemnified Partyportion hereof or thereof.

Appears in 2 contracts

Sources: Commitment Letter (Resaca Exploitation, Inc.), Commitment Letter (Resaca Exploitation, Inc.)

Indemnification. Except as otherwise provided in this Article VII, the Company (athe "Indemnifying Party") The Company agrees to indemnify indemnify, defend and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (eachPurchasers and its Affiliates and their respective officers, a "Controlling Person"), and the respective partnersdirectors, agents, employees, officers subsidiaries, partners, members and Directors of Purchasercontrolling persons (each, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, to the "Indemnified Parties"), fullest extent permitted by law from and against any and all losses, claimsClaims, damages, liabilities and expenses or written threats thereof (including, without limitation limitation, any Claim by a third party), damages, expenses (including reasonable fees, disbursements and as incurred, reasonable costs other charges of investigating, preparing or defending any such claim or action, whether or not such counsel incurred by the Indemnified Party is a in any action between the Indemnifying Party and the Indemnified Party or between the Indemnified Party and any third party theretoor otherwise) or other liabilities (collectively, provided that "Losses") resulting from or arising out of any breach of any representation or warranty, covenant or agreement by the Company shall not be obligated to advance such costs in this Agreement, the Stockholders Agreement, the Escrow Agreement or the Warrants. The amount of any payment to any Indemnified Party other than Purchaser unless it has received from herewith in respect of any Loss shall be of sufficient amount to make such Indemnified Party an undertaking whole for any diminution in value of the Subject Shares directly caused by such breach. In connection with the obligation of the Indemnifying Party to repay to indemnify for expenses as set forth above, the Company the costs so advanced if it should be determined by final judgment Indemnifying Party shall, upon presentation of a court of competent jurisdiction that such appropriate invoices containing reasonable detail, reimburse each Indemnified Party was not entitled to indemnification hereunder with respect to for all such costsexpenses (including reasonable fees, disbursements and other charges of counsel incurred by the Indemnified Party in any action between the Indemnifying Party and the Indemnified Party or between the Indemnified Party and any third party) which may be as they are incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewithParty; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any if an Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If reimbursed under this Article VII for any reason the foregoing indemnity is unavailable (otherwise than pursuant expenses, such reimbursement of expenses shall be refunded to the express terms extent it is finally judicially determined that the Losses in question resulted primarily from the willful misconduct or gross negligence of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 2 contracts

Sources: Stock and Warrant Purchase and Exchange Agreement (Vectis Cp Holdings LLC), Stock and Warrant Purchase and Exchange Agreement (Critical Path Inc)

Indemnification. (a) The Company hereby agrees to indemnify and hold harmless Purchaser, Lead Investor and its Affiliates, affiliates and each Personof their directors, if anyofficers, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partnersmanagers, agents, employees, officers members and Directors of Purchaser, their Affiliates and any such Controlling Person counsel (each an "Indemnified Party") and collectively, the "“Lead Investor Indemnified Parties"), ”) to the fullest extent permitted by law from and against any and all losses, claims, damages, expenses, or liabilities and expenses (includingor actions in respect thereof), without limitation and as incurredjoint or several, to which they or any of them may become subject under any statute or at common law, including any reasonable costs of investigating, preparing legal or defending any such claim or action, whether or other expense (including but not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay limited to the Company the costs so advanced if it should be determined by final judgment cost of a court of competent jurisdiction that such Indemnified Party was not entitled any investigation, preparation, or response to indemnification hereunder with respect to such coststhird party subpoenas) which may be incurred by such Indemnified Party them (“Losses”) in connection with any investigativethird party claims, litigation or administrative or judicial proceeding brought regulatory action (“Proceeding”), whether pending or threatened that relates to threatened, and whether or arises out ofnot resulting in any liability, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any each case, insofar as such losses, claims, liabilities, losses, damages or expenses that litigation or Losses arise out of or are determined by final judgment based upon any wrongful act of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company (or any act that is alleged in writing good faith by a third party plaintiff or claimant not affiliated with and the Company, at its option, may, assume the defense thereof, including the employment not serving as an agent or representative of counsel reasonably satisfactory Lead Investor to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense a wrongful act of the Company, ) in connection with the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, Engagement; provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company they shall not be liable for any apply to (i) amounts paid in settlement of any such action litigation if such settlement is effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company which consent will notnot be unreasonably withheld, without the prior written consent of Purchaser, settle conditioned or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement delayed or (ii) if Losses determined, by a final, non-appealable judgment by a court or arbitral tribunal of competent jurisdiction, to have arisen from the allocation willful misconduct or gross negligence of Lead Investor Indemnified Parties, in which case the Company will be liable only for the portion fairly allocated to the judicially determined wrongdoing of the Company. Lead Investor will indemnify the Company and its directors, officers, managers, agents, employees, members and counsel for Losses resulting from claims of third parties not affiliated with and not serving as an agent or representative of Company in any Proceeding of arising out of Lead Investor’s willful misconduct or gross negligence; provided by clause that clauses (i) is not permitted under applicable law, in such proportion as is appropriate and (ii) above will apply mutatis mutandis to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerationsthis sentence. Notwithstanding the The provisions of this Section 13.3, the aggregate contribution 4 shall survive any termination or expiration of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed This Section 4 will not apply to Emily’s service on the Company’s Board; provided however, that ▇▇▇▇▇ will be offered the relative benefits opportunity to enter into the Company’s standard form of indemnification agreement for directors of the Company on the one hand and Purchaser on the other in connection with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationservice. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 2 contracts

Sources: Agreement (Movano Inc.), Agreement (Movano Inc.)

Indemnification. (a) The Company agrees to indemnify Each party shall indemnify, defend and hold --------------- the other party and its officers, directors, agents and employees harmless Purchaserfrom liability, its Affiliatesdamages, costs, and each Personattorneys' fees, if any, who controls Purchaser, finally awarded in any suit or any of its Affiliates, within the meaning amount of the Securities Act settlement thereof resulting from any third party claim that the *** Technology or Derivative Works thereof created by or for RSS (in the Exchange Act case of RSS) or IGS Chip, IGS Software or Derivative Works thereof or other deliverable created by or for IGS (eachin the case of IGS) infringes any United States patent, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and copyright or trademark or misappropriates any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party theretotrade secret, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless that: (i) the Company has failed to assume the defense indemnifying party is promptly notified of any and employ counsel or all threats, claims and proceedings related thereto, (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party indemnifying party shall have been advised by counsel that there may be one or more legal defenses available sole control of the defense and/or settlement thereof, (iii) the indemnified party furnishes to it which are different from or additional to those the indemnifying party upon the indemnifying party's request and expense, information reasonably available to the Companyindemnified party for such defense, in which case, if such Indemnified Party notifies and (iv) the Company in writing that it elects to employ separate counsel at indemnified party provides the expense of the Company, the Company indemnifying party with reasonable assistance. Neither party shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of admit any such action effected claim without the prior written consent of the Company other party. Neither party shall have any obligation under this Section 15 with respect to any *** Technology, IGS Chip, IGS Software or any portion, component or Derivative Works of the foregoing (which shall a) not be unreasonably withheldsupplied by the indemnifying party, (b) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss made in whole or liability by reason of settlement of any action effected in part in accordance with the consent of the Company. In additionindemnified party's specifications, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received that are modified after delivery by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) indemnifying party, if the allocation provided by clause (i) is not permitted under applicable lawalleged infringement relates to such modification, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnificationcombined with other products, contribution processes or materials where the alleged infringement relates to such combination, (e) where the indemnified party continues allegedly infringing activity after being notified thereof or after being informed of modifications that would have avoided the alleged infringement and expense reimbursement obligations set forth in this Section 13.3 such modifications are not fully implemented, or (if) shall be in addition to any liability where the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full indemnified party's use of the Convertible Debentures and (iii) shall remain operative and *** Technology, IGS Chip, IGS Software or Derivative Work thereof is not strictly in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Partyaccordance with the licenses granted herein.

Appears in 2 contracts

Sources: Technology License Agreement (Tvia Inc), Technology License Agreement (Tvia Inc)

Indemnification. (aA) The Company agrees to ABTAC will defend, indemnify and hold harmless Purchaser, GECAFS and its Affiliates, affiliates and each Person, if any, who controls Purchaser, or any all of its Affiliatesand their officers, within the meaning of the Securities Act or the Exchange Act (eachdirectors, a "Controlling Person"), and the respective partnersowners, agents, attorneys, and employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all lossesloss, liability, claims, damagesdamage, liabilities cost or expense (including attorneys' fees and expenses (including, without limitation and as incurred, reasonable costs costs) by third parties arising out of investigating, preparing any gross negligence or defending any such claim intentional misconduct of ABTAC in connection with ABTAC's performance of its obligations under this Agreement or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs relating to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment breach or alleged breach of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party third party's proprietary rights in connection with any investigativeintellectual property (except if provided by GECAFS), administrative used by ABTAC in performance of its obligations under this Agreement. (B) GECAFS will defend, indemnify and hold harmless ABTAC and its affiliates and all of its and their officers, directors, owners, agents, attorneys, and employees, from and against any and all loss, liability, claims, damage, cost or judicial proceeding brought expense (including attorneys' fees and costs) by third parties arising out of any gross negligence or threatened that relates to or arises out of, or is intentional misconduct of GECAFS in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment GECAFS' performance of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties relating to any such action claim regarding GECAFS' conduct with respect to any financing transaction or proposed financing transaction (including Customer claims) in connection with this Agreement and any impleaded partiesbreach or alleged breach of any law by GECAFS relating to consumer financing (unless caused solely by ABTAC) include such Indemnified Party in connection with this Agreement and the Company, and such Indemnified Party shall have been advised transactions contemplated thereby. (C) The indemnified party must give the indemnifying party prompt notice of any claims covered by counsel that there may be one the indemnity of this Agreement. Each party will promptly notify the others of any legal or more regulatory proceeding or threat of legal defenses available or regulatory proceeding with respect to it any matters which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense subject of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, this Agreement; provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible failure to notify will not afford relief hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent except to the entry of any judgment extent that it results in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceedingprejudice. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 2 contracts

Sources: Marketing and Application Processing Agreement (Auto by Tel Corp), Marketing and Application Processing Agreement (Auto by Tel Corp)

Indemnification. Each party to this Agreement (athe “Indemnifying Party”) shall defend, indemnify, and hold the other party, and its officers, board members, agents and employees, harmless from and against any and all claims, demands, losses, liabilities, actions, lawsuits, or expenses, including, without limitation, reasonable attorney fees, arising or resulting from, related to, or connected with third party claims arising out of: (i) Indemnifying Party’s negligent acts or omissions or intentional conduct to the fullest extent permitted by law and subject to the limitations provided below, or (ii) Indemnifying Party’s use or transfer of any software, book, document, report, film, tape, or sound reproduction or material of any kind, delivered hereunder, which constitutes an infringement of any copyright, patent, trademark, trade name, or otherwise results in an unfair trade practice or in unlawful restraint of competition. The Company agrees Indemnifying Party's duty to indemnify and defend the other party shall not apply to liability for damages arising out of, caused by, or resulting from the sole negligence of the other party and its officers, board members, agents and employees. The Indemnifying Party's duty to indemnify the other party for liability for damages arising out of, caused by, or resulting from the concurrent negligence of each party shall apply only to the extent of negligence of the Indemnifying Party or its agents or employees. The Indemnifying Party's duty to indemnify the other party for any liabilities or losses caused by or resulting from negligence shall apply only to the extent of the fault of the Indemnifying Party, its agents or employees, except in situations where fault is not a requirement for liability, in which case indemnity will be provided to the extent the liability or loss was caused by the Indemnifying Party, its agents or employees. The Indemnifying Party's duty to defend, indemnify, and hold the other party harmless as to all claims, demands, losses, and liabilities shall include the other party's reasonable personnel-related costs, reasonable attorney fees, and court costs. Contractor waives its immunity under Title 51 RCW to the extent it is required to indemnify, defend, and hold harmless Purchaser, the District and its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers or officials. Contractor shall defend, indemnify, and Directors of Purchaserhold harmless the District and its officers, their Affiliates board members, agents and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties")employees, from and against any and all claims, charges, demands, losses, claimsliabilities, damagesactions, liabilities and expenses (lawsuits, or expenses, including, without limitation and as incurredlimitation, reasonable costs of investigatingattorney fees, preparing arising or defending any such claim resulting from, related to, or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection connected with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction unfair labor practice arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions Contractor’s performance of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationContract. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 2 contracts

Sources: Contract for Educational Services, Educational Services

Indemnification. (a) The Company agrees to indemnify and hold harmless each Purchaser, its respective Affiliates, and each Person, if any, who controls such Purchaser, or any of its respective Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of such Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with a breach of any activities contemplated by any Transaction Agreement of the Company’s representations and warranties or any other services rendered in connection herewithcovenants contained herein; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross ’s negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, ; provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaserthe applicable Purchaser(s). The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaserthe applicable Purchaser(s), settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser the applicable Purchaser(s) and the other Indemnified Parties, satisfactory in form and substance to Purchaserthe applicable Purchaser(s), from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 14.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination Closing Date for a period of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures two (2) years and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of any Purchaser or any other Indemnified Party. (d) Each Purchaser acknowledges such Purchaser’s understanding of the representations, warranties and covenants set forth herein and that the Company relied upon such representations, covenants and warranties and each Purchaser agrees to indemnify, defend and save harmless the Company, its directors, officers, agents and employees, and each of them, from and against any and all loss, liability, claim, damage and expense (including, but not limited to, any and all expenses reasonably incurred in investigating, preparing or defending against any litigation commenced or threatened or any claim whatsoever), arising out of or based upon any false representation or warranty or breach or failure by such Purchaser to comply with any covenant or agreement made by such Purchaser herein or in any other document furnished by such Purchaser to any of the foregoing in connection with such Purchaser’s investment in the Securities.

Appears in 2 contracts

Sources: Exchange Agreement (Speedemissions Inc), Exchange Agreement (Speedemissions Inc)

Indemnification. (a) The Company agrees to shall indemnify and hold harmless PurchaserHW&Co. and its control persons, its Affiliatesofficers, and each Persondirectors, if anymembers, who controls Purchasermanagers, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partnersemployees, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person affiliates (each an "Indemnified Party") ”), jointly and collectively, the "Indemnified Parties")severally, from and against any and all losses, claims, damagesdamages or liabilities, liabilities and costs, or expenses in respect to any action, claim, suit or proceeding to which such Indemnified Party may become subject in connection with the services rendered pursuant to or matters which are the subject of or arise out of this Agreement or HW&Co.’s Services provided in connection herewith, whether arising before or after the date of this Agreement (includingcollectively, without limitation and as incurred, reasonable costs of “Claims”). The Company will promptly reimburse each Indemnified Party for any legal or other expenses incurred by such Indemnified Party in connection with investigating, preparing for, defending, settling or defending compromising any such claim or actionClaim as such expenses are incurred, regardless of whether or not such Indemnified Party is a party theretoin such Claim. Notwithstanding the foregoing, provided that the Company shall not be obligated to advance such costs liable with respect to any such Claim nor for any such Indemnified Party’s expenses if a court of competent jurisdiction shall have determined by a final judgment that such Claim resulted solely from the Indemnified Party’s bad faith, willful misconduct or gross negligence. The Company also agrees that no Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay shall have any liability to the Company or to any person asserting claims on behalf of or in right of the costs so advanced if Company, directly or indirectly, arising out of, or relating to, this Agreement or HW&Co.’s Services hereunder, unless it should be is determined by in a final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that liability resulted solely from the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligencebad faith, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense gross negligence of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 2 contracts

Sources: Mergers & Acquisitions (YETI Holdings, Inc.), Mergers & Acquisitions (YETI Holdings, Inc.)

Indemnification. To the fullest extent permitted by applicable law, each party to this Agreement (athe “Indemnifying Party”) The Company agrees to indemnify shall defend and hold harmless Purchaserthe other party and their affiliated companies, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person")▇▇▇▇▇▇▇’▇ franchisees, and the parties’ respective partnersofficers, directors, employees, agents, employeesshareholders, officers partners, joint venturers, affiliates, successors and Directors of Purchaser, their Affiliates and any such Controlling Person assigns (each an "Indemnified Party") and collectively, the "Indemnified Parties"), ”) from and against any and all lossesliabilities, obligation, claims, demands, causes of action, losses, expenses, damages, liabilities fines, judgments, settlements, and expenses (penalties, including, without limitation limitation, costs, expenses and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party attorneys’ fees incident thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined arising out of based upon, occasioned by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party or in connection with any investigative, administrative or judicial proceeding brought or threatened that relates with: a) failure of the Indemnifying Party to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company perform its duties under this Agreement; b) a violation of any law or any negligence, such Indemnified gross negligence or willful misconduct by the Indemnifying Party shall promptly notify the Company in writing and the Companyor its affiliates, at subcontractors, agents or employees during either its option, may, assume the defense thereof, including the employment performance of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party its duties under this Agreement or otherwise unless otherwise; c) damage to property and injuries, including without limitation death, to all persons, arising from any occurrence caused by any act or omission of the Company is materially adversely affected Indemnifying Party or its personnel related to the performance of this Agreement; and d) the Indemnifying Party’s breach of any of the representations, warranties covenants or obligations contained in this Agreement. The indemnification obligation shall be construed so as to extend to all verifiable legal, defense and investigation costs, as well as other costs, expenses, and liabilities incurred by such failure. Such the Indemnified Parties, including but not limited to interest, penalties, and fees of attorneys and accountants (including expenses), from and after the time when any Indemnified Party shall have receives notification (whether verbal or written) that a claim or demand has been made or is to be or may be made. Except as otherwise provided by law, the Indemnified Parties’ right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company indemnification under this paragraph shall not be liable for impaired or diminished by any settlement of any such action effected without the written consent of the Company act, omission, conduct, misconduct, negligence or default (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss other than gross negligence or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(fwillful misconduct) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationIndemnified Parties. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 2 contracts

Sources: Vendor Agreement (Swisher Hygiene Inc.), Vendor Agreement (Swisher Hygiene Inc.)

Indemnification. (a) The Company agrees Lenders, severally, agree to indemnify and hold harmless Purchaserthe Agents and their respective officers, its Affiliatesdirectors, employees, agents, advisors and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act their successors and assigns (each, a "Controlling Person"an “Agent Indemnified Party”) (to the extent not reimbursed by the Borrower), and ratably according to the respective partnersprincipal amounts of the Loans owing to them (or if no Loans are at the time outstanding, agents, employees, officers and Directors ratably according to the respective amounts of Purchaser, their Affiliates and any such Controlling Person original Commitments (each an "Indemnified Party") and collectively, or what would have been their original Commitments had they been party hereto on the "Indemnified Parties"Execution Date)), from and against any and all lossesliabilities, claims, obligations, losses, damages, liabilities and penalties, actions, judgments, suits, costs, expenses (including, without limitation limitation, the fees and as incurredexpenses of legal counsel, reasonable costs independent public accountants and other experts selected by it) or disbursements of investigating, preparing any kind or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided nature whatsoever that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be imposed on, incurred by by, or asserted against such Agent Indemnified Party in connection with any investigativeway relating to, administrative arising out of or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with (i) the Agent Indemnified Party acting as Agent hereunder and under the other Credit Documents to which it is a party, (ii) any activities contemplated Credit Document or (iii) any action taken or omitted by such Agent Indemnified Party under any Transaction Agreement or any other services rendered in connection herewith; provided Credit Document (collectively, the “Indemnified Costs”), provided, that the Company will not no Lender shall be responsible liable for any claims, liabilities, losses, damages or expenses that are portion of the Indemnified Costs to the extent determined by the final and nonappealable judgment of a court of competent jurisdiction to result from such specifically have been caused by the gross negligence or willful misconduct of the relevant Agent Indemnified Party's gross negligence. Without limitation of the foregoing, willful misconduct or bad faith. (b) If any action shall be brought against an each Lender, severally, agrees to reimburse each Agent Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, promptly upon demand for such Lender’s ratable share of any reasonable out-of-pocket expenses of an Agent Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, (including the employment of reasonable counsel reasonably satisfactory to fees) incurred by such Agent Indemnified Party and payment in connection with the preparation, execution, delivery, administration, performance of all reasonable fees and expenses. The failure its duties, exercise of its rights, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, the Credit Documents, to so notify the Company shall not affect any obligations the Company may have to extent that such Agent Indemnified Party under is not reimbursed for such expenses by the Borrower. In the case of any investigation, litigation or proceeding giving rise to any Indemnified Costs, this Agreement Section 10.7 applies whether any such investigation, litigation or otherwise unless the Company proceeding is materially adversely affected brought by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such any Agent Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel any Lender or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchasera third party. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.310.7 shall survive the resignation or removal of any Agent, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) payment of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution Notes and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive all other Obligations hereunder and the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or and/or any other Indemnified PartyCredit Document or related document.

Appears in 2 contracts

Sources: Export Prepayment Finance Agreement (Adecoagro S.A.), Export Prepayment Facility Agreement (Adecoagro S.A.)

Indemnification. (a) The Company agrees to Borrower will indemnify and hold harmless Purchaserthe Administrative Agent, its Affiliatesthe Lead Arrangers, each Lender and each Personof their affiliates and their respective officers, if anydirectors, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partnersemployees, agents, employees, officers advisors and Directors of Purchaser, their Affiliates and any such Controlling Person other representatives (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against (and will reimburse each Indemnified Party as the same are incurred for) any and all losses, claims, damages, losses, liabilities and documented out-of-pocket fees expenses (including, without limitation limitation, the reasonable fees, disbursements and as incurred, reasonable costs other charges of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided counsel) that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such or asserted or awarded against any Indemnified Party Party, in each case arising out of or in connection with or by reason of (including, without limitation, in connection with any investigativeinvestigation, administrative litigation or judicial proceeding brought or threatened that relates to or arises out ofpreparation of a defense in connection therewith) the Senior Credit Facility, or any use made or proposed to be made with the proceeds thereof, except to the extent such claim, damage, loss, liability or expense is found in connection with any activities contemplated a final, nonappealable judgment by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result have resulted from such Indemnified Party's ’s gross negligence, willful misconduct or breach in bad faith. (b) If any action faith of the Senior Credit Facility. In the case of an investigation, litigation or proceeding to which the indemnity in this paragraph applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought against by the Borrower, its equity holders or creditors or an Indemnified Party, whether or not an Indemnified Party with respect to which indemnity may be sought against is otherwise a party thereto and whether or not any aspect of the Company under this AgreementSenior Credit Facility is consummated. In addition, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such no Indemnified Party shall have the right to employ separate counsel any liability (whether direct or indirect, in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (icontract or tort or otherwise) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the CompanyBorrower or its subsidiaries or affiliates or to its equity holders or creditors arising out of, in which case, if such Indemnified Party notifies the Company in writing that it elects related to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out aspect of the same general allegations or circumstancesSenior Credit Facility, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent except to the entry extent of any direct, as opposed to special, indirect, consequential or punitive, damages determined in a final, nonappealable judgment in or otherwise seek by a court of competent jurisdiction to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, have resulted from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party’s gross negligence, the Company shall contribute to the amount paid willful misconduct or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) breach in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault bad faith of the Company Senior Credit Facility. This indemnification shall survive and Purchaser as well as any other relevant equitable considerations. Notwithstanding continue for the provisions of this Section 13.3, the aggregate contribution benefit of all Indemnified Parties shall not exceed the amount such persons or entities. GOVERNING LAW: State of interest and fees actually received by Purchaser pursuant to this AgreementNew York. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations PRICING/FEES/EXPENSES: As set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.Addendum I.

Appears in 2 contracts

Sources: Consent and Waiver to Credit Agreement (Willis Group Holdings PLC), Consent to Guaranty Agreement (Willis Group Holdings PLC)

Indemnification. (a) The Company agrees Employer shall indemnify the Employee to indemnify and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaserthe fullest extent that would be permitted by law as in effect at the time of the subject act or omission, or any of its Affiliates, within by the meaning Charter or Bylaws of the Securities Act Employer as in effect at such time, or by the Exchange Act (eachterms of any indemnification agreement between the Employer and the Employee, a "Controlling Person")whichever affords greatest protection to the Employee, and the respective partnersEmployee shall be entitled to the protection of any insurance policies the Employer may elect to maintain generally for the benefit of its employees (and to the extent the Employer maintains such an insurance policy or policies, agents, employees, officers and Directors in accordance with its or their terms to the maximum extent of Purchaser, their Affiliates and the coverage available for any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"company employee), from and against any and all lossesloss, claim, damage, liability, deficien­cies, actions, suits, proceedings, claims, damages, liabilities costs and legal expenses or expense whatsoever (including, without limitation and as incurredbut not limited to, reasonable costs of legal fees and other expenses and reasonable disbursements incurred in connection with investigating, preparing to defend or defending any such claim or action, whether suit or not proceeding, including any inquiry or investigation, commenced or threatened, or any claim whatsoever, or in appearing or preparing for appearance as witness in any proceeding, including any pretrial proceeding such Indemnified Party is as a party thereto, provided that deposition) at the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to time such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees charges and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel are incurred or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall notsustained, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution the Employee may be sought hereunder (whether or not any Indemnified Party is made a party thereto) unless such settlementby reason of his/her being or having been an employee of the Employer, compromiseor serving as an employee of an Affiliate of the Employer, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such than any action, claim, suit or proceeding. (c) If for proceeding brought against the Employee by or on account of his/her breach of the provisions of any reason employment agreement with a third party that has not been disclosed by the foregoing indemnity is unavailable (otherwise than pursuant Employee to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerationsEmployer. Notwithstanding the foregoing, Employee shall not be entitled to indemnification pursuant to this paragraph 7 to the extent that any such liability is found in a final judgment by a court of competent jurisdiction to have resulted primarily and directly from the Employee’s fraud, gross negligence or willful misconduct. Any payments to be made to Employee pursuant to this Section 7 shall first be made under insurance policies that the Employer may maintain generally for the benefit of its employees, if any. An “Affiliate” shall mean any entity controlling, controlled by or under common control with Employer. The provisions of this Section 13.3, 7 shall specifically survive the aggregate contribution expiration or earlier termination of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that Shall any portion of this Section 7 be held to be invalid, unreasonable, and arbitrary or against public policy, then such portion of the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby paragraph shall be determined modified to provide Employee with the fullest protection that would be permitted by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationlaw. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 2 contracts

Sources: Employment Agreement (MobileBits Holdings Corp), Employment Agreement (MobileBits Holdings Corp)

Indemnification. (a) The Company agrees to indemnify For a period of six years from and hold harmless Purchaserafter the Closing Date, its AffiliatesPurchaser shall not, and each Person, if any, who controls Purchaser, shall not allow the Company or any of its Affiliatessubsidiaries to, within amend, repeal or otherwise modify the meaning indemnification arrangements for the benefit of individuals who immediately prior to the Securities Act or the Exchange Act (eachClosing Date were directors, a "Controlling Person"), and the respective partnersofficers, agents, employees, officers and Directors employees of Purchaser, their Affiliates and the Company or any such Controlling Person of its subsidiaries or otherwise entitled to indemnification under the Company’s or any of its subsidiaries’ constitutive documents (each an "Indemnified Party") contained in the constitutive documents of the Company or any of its subsidiaries prior to the Closing Date in any manner that would adversely affect the rights thereunder of any Indemnified Party. The Company shall, to the fullest extent permitted under applicable Law, including, without limitation, Section 310 of the Companies Act, and collectivelyregardless of whether the Closing occurs, the "indemnify, defend and hold harmless each Indemnified Parties"Party against any costs or expenses (including reasonable attorneys’ fees), from and against any and all judgments, fines, losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party amounts paid in settlement in connection with any investigativeclaim, administrative action, suit, proceeding or judicial proceeding brought or threatened that relates to or arises investigation, including, without limitation, liabilities arising out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless under the Company is materially adversely affected by such failure. Such Indemnified Party shall have Securities Exchange Act occurring through the right to employ separate counsel in such action Closing Date, and participate in the defense thereofevent of any such claim, but action, suit, proceeding or investigation (whether arising before or after the fees and expenses of such counsel shall be at the expense of such Indemnified PartyClosing Date), unless (i) the Company has failed shall pay the reasonable fees and expenses of counsel selected by the Indemnified Parties, which counsel shall be reasonably satisfactory to assume the defense Company, promptly as statements therefor are received, and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, Company will cooperate in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of any such action or proceeding on behalf of such Indemnified Party, matter; provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the its written consent of the Company (which consent shall not be unreasonably withheld) and ). After the Closing Date, Purchaser shall guarantee to the fullest extent permitted under applicable Law, including, without limitation, Section 310 of the Companies Act, the payment obligations of the Company agrees under this Section 5.4(a) solely to indemnify and hold harmless each the extent the Company is permitted under applicable Law, including, without limitation, Section 310 of the Companies Act, to satisfy such payment obligations. Any Indemnified Party from and against any loss or liability by reason of settlement wishing to claim indemnification under this Section 5.4(a), upon learning of any action effected with such claim, action, suit, proceeding or investigation, shall promptly notify Purchaser (but the consent of failure so to notify shall not relieve Purchaser or the Company, as the case may be, from any liability which it may have under this Section 5.4(a) except to the extent such failure materially prejudices Purchaser or the Company, as the case may be). In additionFor six years after the Closing Date, the Company will not, without shall be required to maintain or obtain officers’ and directors’ liability insurance covering the prior written consent of Purchaser, settle or compromise or consent Indemnified Parties who are currently covered by the Company’s officers’ and directors’ liability insurance policy that is at least equal to the entry coverage provided under the Company’s current directors’ and officers’ liability insurance policy, to the extent that such liability insurance can be maintained at an annual cost to the Company not greater than 150 percent of the premium for the current Company directors’ and officers’ liability insurance (which is $126,835); provided that if such insurance cannot be so maintained at such cost, the Company shall maintain as much of such insurance as can be so maintained at a cost equal to 150 percent of the current annual premium for such insurance. From and after the Closing Date, Purchaser shall cause the Company to reimburse all expenses, including reasonable attorney’s fees and expenses, incurred by any judgment in or otherwise seek person to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release enforce the obligations of Purchaser and the other Indemnified PartiesCompany under this Section 5.4, satisfactory in form and substance all cases, only to Purchaserthe extent the Company is permitted under applicable Law, from all liability arising out including, without limitation, Section 310 of the Companies Act, to reimburse such action, claim, suit or proceedingexpenses. (cb) If for any reason From and after the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmlessClosing Date, then in lieu of indemnifying such Indemnified Party, if the Company shall contribute to the amount paid or payable by such Indemnified Party as a result any of such claims, liabilities, losses, damages, its successors or expenses assigns (i) in consolidates with or merges into any other person and shall not be the continuing or surviving corporation or entity of such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement consolidation or merger or (ii) if transfers all or substantially all of its properties and assets to any person, then and in each such case, proper provision shall be made so that the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand successors and Purchaser on the other, but also the relative fault assigns of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding assume the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party5.4.

Appears in 2 contracts

Sources: Acquisition Agreement (Parker Hannifin Corp), Acquisition Agreement (Parker Hannifin Corp)

Indemnification. (a) The Company agrees to indemnify and hold harmless Purchaser, the Advisor and its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partnersaffiliates, agents, and advisors, and their respective directors, officers, employees, officers agents and Directors of Purchaser, their Affiliates and any such Controlling Person controlling persons (each such person is hereinafter referred to as an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (includingwhatsoever, without limitation and as incurredjoint or several, reasonable costs of investigating, preparing or defending to which any such Indemnified Party may become subject under any applicable federal or state law of the United States of America or otherwise, caused by, relating to or arising out of the engagement evidenced hereby. The Company will reimburse any Indemnified Party for all expenses (including reasonable counsel fees and expenses) as they are incurred by an Indemnified Party in connection with the investigation of, preparation for or defense of any pending or threatened claim or actionany action or proceeding arising therefrom, whether or not resulting in liability; provided, however, that at the time of such reimbursement the Indemnified Party is a party thereto, provided that shall have entered into an agreement with the Company shall not be obligated to advance such costs to any whereby the Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking agrees to repay to the Company the costs so advanced all such reimbursed amounts if it should be is determined in a final judgement by final judgment of a court of competent jurisdiction that such the Indemnified Party was is not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result indemnity from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume . Notwithstanding the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Companyforegoing, the Company shall not have be liable to any Indemnified Party under the right foregoing indemnification provision to assume the defense of such action extent that any loss, claim, damage, liability or proceeding on behalf of expense results directly from any such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action 's misconduct or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchasernegligence. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason (other than a final non-appealable judgement finding any Indemnified Party liable for losses, claims, damages, liabilities or expenses for its gross negligence or willful misconduct) the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such an Indemnified Party as a result of such claimsloss, liabilitiesclaim, lossesdamage, damages, liability or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, expense in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser the Advisor on the other, but also the relative fault of by the Company and Purchaser the Indemnified Party as well as any other relevant equitable considerations. Notwithstanding , subject to the provisions of this Section 13.3, limitation that in no event shall the aggregate total contribution of all Indemnified Parties shall not to all such losses, claims, damages, liabilities or expenses exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied retained by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentationAdvisor hereunder. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 2 contracts

Sources: Financial Advisory Agreement (U S Liquids Inc), Financial Advisory Agreement (U S Liquids Inc)

Indemnification. (a) The Company agrees to indemnify and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within To the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"), and the respective partners, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined fullest extent permitted by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Companylaw, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss and all Indemnified Losses suffered or liability sustained by such Indemnified Party by reason of settlement any act, omission or alleged act or omission arising out of, related to or in connection with the Company or this Agreement, or any and all Proceedings in which an Indemnified Party may be involved, as a party or otherwise, arising out of, related to or in connection with such Indemnified Party’s service to or on behalf of, or management of the affairs or assets of, the Company, or which relate to the Company, except for any Indemnified Losses that are Judicially Determined to be primarily attributable to the bad faith, gross negligence, willful misconduct or fraud of such Indemnified Party. The Company shall also indemnify and hold harmless each Indemnified Party from and against any and all Indemnified Losses suffered or sustained by such Indemnified Party by reason of any action effected acts, omissions or alleged acts or omissions of any broker or agent of the Company; provided, that such broker or agent was selected, engaged or retained by such Indemnified Party directly or on behalf of the Company in accordance with the standard of care set forth above. The termination of a Proceeding by settlement or upon a plea of nolo contendere, or its equivalent, shall not, of itself, create a presumption that such Indemnified Party’s acts, omissions or alleged acts or omissions were primarily attributable to the bad faith, gross negligence, willful misconduct or fraud of such Indemnified Party. Expenses (including legal and other professional fees and disbursements) incurred in any Proceeding may, with the consent of the Company. In additionInvestment Manager, be paid by the Company will not, without in advance of the prior written consent final disposition of Purchaser, settle such Proceeding upon receipt of an undertaking by or compromise or consent on behalf of such Indemnified Party to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may repay such amount if it shall ultimately be sought hereunder (whether or not any determined that such Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and not entitled to be indemnified by the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) Company as authorized hereunder. If for any reason (other than the bad faith, gross negligence, willful misconduct or fraud of such Indemnified Party, as set forth above) the foregoing indemnity indemnification is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party Party, or insufficient to hold an Indemnified Party it harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) Indemnified Losses in such proportion as is appropriate to reflect the relative benefits received by the Company Company, on the one hand hand, and by Purchaser the Indemnified Party on the other from the transactions contemplated by this Agreement or (ii) hand or, if the such allocation provided by clause (i) is not permitted under by applicable lawlaw or regulation, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, referred to above but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. . (b) The rights accruing to any Indemnified Party under the indemnification provisions shall not exclude any other right to which such Indemnified Party may be lawfully entitled and shall survive the termination of such Indemnified Party in any capacity relating to the Company. (c) Notwithstanding any of the foregoing to the contrary, the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties 4.07 shall not exceed be construed so as to provide for the amount indemnification of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; for any liability (iiincluding liability under Federal securities laws which, under certain circumstances, impose liability even on Persons that act in good faith), to the extent (but only to the extent) that such indemnification would be in violation of applicable law, but shall survive be construed so as to effectuate the termination provisions of this Agreement and Section 4.07 to the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made fullest extent permitted by or on behalf of Purchaser or any other Indemnified Partylaw.

Appears in 2 contracts

Sources: Limited Liability Company Operating Agreement (AB Commercial Real Estate Private Debt Fund, LLC), Limited Liability Company Operating Agreement (AB Commercial Real Estate Private Debt Fund, LLC)

Indemnification. Borrowers agree to defend (a) The Company agrees with counsel satisfactory to indemnify and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (each, a "Controlling Person"Lender), and the respective partnersprotect, agentsindemnify, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify exonerate and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In additionand all liabilities, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilitiesobligations, losses, damages, penalties, actions, judgments, suits, claims, costs, expenses and distributions of any kind or expenses nature (iincluding the disbursements and the reasonable fees of counsel for each Indemnified Party thereto, which shall also include, without limitation, reasonable attorneys’ fees and time charges of attorneys who may be employees of any Indemnified Party), which may be imposed on, incurred by, or asserted against, any Indemnified Party (whether direct, indirect or consequential and whether based on any federal, state or local laws or regulations, including securities laws, Environmental Laws, commercial laws and regulations, under common law or in equity, or based on contract or otherwise) in such proportion as is appropriate any manner relating to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by or arising out of this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault any of the Company and Purchaser as well as Loan Documents, or any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3act, event or transaction related or attendant thereto, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest preparation, execution and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination delivery of this Agreement and the Loan Documents, including the making or issuance and management of the Loans, the use or intended use of the proceeds of the Loans, the enforcement of Lender’s rights and remedies under this Agreement, the Loan Documents, any Note, any other Transaction Agreements instruments and documents delivered hereunder, or under any other agreement between Borrowers and Lender; provided, however, that Borrowers shall not have any obligations hereunder to any Indemnified Party with respect to matters determined by a court of competent jurisdiction by final and nonappealable judgment to have been caused by or resulting from the willful misconduct or gross negligence of such Indemnified Party. To the extent that the undertaking to indemnify set forth in the preceding sentence may be unenforceable because it violates any law or public policy, Borrowers shall satisfy such undertaking to the maximum extent permitted by applicable law. Any liability, obligation, loss, damage, penalty, cost or expense covered by this indemnity shall be paid to each Indemnified Party on demand, and failing prompt payment, together with interest thereon at the Default Rate from the date incurred by each Indemnified Party until paid by Borrowers, shall be added to the Obligations of Borrowers and be secured by the Collateral. The provisions of this Section shall survive the satisfaction and payment of the other Obligations and the payment in full termination of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Partythis Agreement.

Appears in 2 contracts

Sources: Loan and Security Agreement (BG Staffing, Inc.), Loan and Security Agreement (LTN Staffing, LLC)

Indemnification. Except as otherwise provided in this Article IX, the Company (athe "Indemnifying Party") The Company agrees to indemnify indemnify, defend and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act (eachPurchasers and its Affiliates and their respective officers, a "Controlling Person"), and the respective partnersdirectors, agents, employees, officers subsidiaries, partners, members and Directors of Purchasercontrolling persons (each, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, to the "Indemnified Parties"), fullest extent permitted by law from and against any and all losses, claimsClaims, damages, liabilities and expenses or written threats thereof (including, without limitation limitation, any Claim by a third party), damages, expenses (including reasonable fees, disbursements and as incurred, reasonable costs other charges of investigating, preparing or defending any such claim or action, whether or not such counsel reasonably incurred by the Indemnified Party is a in any action between the Indemnifying Party and the Indemnified Party or between the Indemnified Party and any third party theretoor otherwise) or other liabilities (collectively, provided that "Losses") resulting from or arising out of any breach of any representation or warranty, covenant or agreement by the Company shall not be obligated to advance such costs in this Agreement or the Registration Rights Agreement. The amount of any payment to any Indemnified Party other than Purchaser unless it has received from herewith in respect of any Loss shall be of sufficient amount to make such Indemnified Party an undertaking whole for any diminution in value of the Purchased Shares. Additionally, in connection with the obligation of the Indemnifying Party to repay to indemnify for expenses as set forth above, the Company the costs so advanced if it should be determined by final judgment Indemnifying Party shall, upon presentation of a court of competent jurisdiction that such appropriate invoices containing reasonable detail, reimburse each Indemnified Party was not entitled to indemnification hereunder with respect to for all such costsexpenses (including reasonable fees, disbursements and other charges of counsel incurred by the Indemnified Party in any action between the Indemnifying Party and the Indemnified Party or between the Indemnified Party and any third party) which may be as they are incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewithParty; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any if an Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If reimbursed under this Article IX for any reason the foregoing indemnity is unavailable (otherwise than pursuant expenses, such reimbursement of expenses shall be refunded to the express terms extent it is finally judicially determined that the Losses in question resulted primarily from the willful misconduct or gross negligence of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable law, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made by or on behalf of Purchaser or any other Indemnified Party.

Appears in 2 contracts

Sources: Stock Purchase Agreement (Tickets Com Inc), Stock Purchase Agreement (Tickets Com Inc)

Indemnification. (a) The Company agrees Each party required to indemnify deliver an Assessment of Compliance and hold harmless Purchaser, its Affiliates, and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act an Accountant's Attestation and/or an Item 1123 Certification under Article XIII (each, a "Controlling Person")Responsible Party) shall indemnify and hold harmless the Trust Administrator, the Master Servicer and the respective partnersDepositor and each of their directors, officers, employees, agents, employees, officers and Directors of Purchaser, their Affiliates and any such Controlling Person (each an "Indemnified Party") and collectively, the "Indemnified Parties"), affiliates from and against any and all claims, losses, claims, damages, liabilities penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses arising out of or based upon (including, without limitation and as incurred, reasonable costs of investigating, preparing or defending a) any such claim or action, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred breach by such Indemnified Responsible Party of any if its obligations under this Article XIII including particularly its obligation to provide any Assessment of Compliance and an Accountant's Attestation and/or an Item 1123 Certification or any information, data or material required to be included in any Exchange Act report, (b) any misstatement or omission in any information, data or materials provided by such Responsible Party (or, in the case of the Trust Administrator or Master Servicer, any material misstatement of material omission in (i) any Compliance Statement, Assessment of Compliance or Attestation report delivered by it, or by any Servicing Function Participant engaged by it, pursuant to this Agreement, or (ii) any Additional Form 10-D Disclosure or Additional Form 10-K Disclosure concerning the Master Servicer or the Trust Administrator, or (c) the negligence, bad faith or willful misconduct of such Responsible Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the Company will not be responsible for any claims, liabilities, losses, damages or expenses that are determined by final judgment of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to which indemnity may be sought against the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Company has failed to assume the defense and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement performance of any such action effected without if its obligations hereunder. If the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If provided for any reason the foregoing indemnity herein is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmlessharmless the Master Servicer, the Trust Administrator or the Depositor, then in lieu of indemnifying such Indemnified Party, the Company each Responsible Party agrees that it shall contribute to the amount paid or payable by such Indemnified Party the Trust Administrator, the Master Servicer or the Depositor, as applicable, as a result of such any claims, liabilities, losses, damagesdamages or liabilities incurred by the Master Servicer, the Trust Administrator or expenses (i) the Depositor, as applicable, in such proportion as is appropriate to reflect the relative benefits received by fault of the Company Master Servicer, the Trust Administrator or the Depositor, as applicable, on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable lawsuch Responsible Party, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the other, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) This indemnification shall survive the termination of this Agreement or the termination of any party to this Agreement. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] EXHIBIT A FORM OF CLASS A CERTIFICATE UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS OWNERSHIP OF A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"). Certificate No. : A-__-1 Cut-off Date : _______________ First Distribution Date : _______________ Initial Certificate Balance of this Certificate ("Denomination") : _______________ Initial Certificate Balances of all Certificates of this Class : _______________ CUSIP : _______________ Pass-Through Rate : Variable Maturity Date : _______________ CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP. Credit Suisse First Boston Mortgage Securities Corp., Adjustable Rate Mortgage-Backed Pass-Through Certificates, [Series Name] Class [__]-A-[__] evidencing a percentage interest in the distributions allocable to the Certificates of the above-referenced Class with respect to a Trust Fund consisting primarily of a pool of adjustable rate conventional mortgage loans (the "Mortgage Loans") secured by first liens on one- to four-family residential properties. Credit Suisse First Boston Mortgage Securities Corp., as Depositor Principal in respect of this Certificate is distributable monthly as set forth herein. Accordingly, the Certificate Balance at any time may be less than the Certificate Balance as set forth herein. This Certificate does not evidence an obligation of, or an interest in, and is not guaranteed by the Depositor, the Seller, the Master Servicer, the Servicers, the Special Servicer, the Modification Oversight Agent, the Trust Administrator or the Trustee referred to below or any of their respective affiliates. Neither this Certificate nor the Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality. This certifies that CEDE & CO., is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the denomination of this Certificate by the aggregate of the denominations of all Certificates of the Class to which this Certificate belongs) in certain monthly distributions with respect to a Trust Fund consisting primarily of the Mortgage Loans deposited by Credit Suisse First Boston Mortgage Securities Corp. (the "Depositor"). The Trust Fund was created pursuant to a Series Supplement dated as of the Cut-off Date specified above and the other Transaction Agreements Standard Terms of Pooling and Servicing Agreement dated May 1, 2007 (collectively, the "Agreement") by and among the Depositor, the Seller(s), the Master Servicer, the Trust Administrator, the Special Servicer, the Modification Oversight Agent, the Trustee and the payment Servicers that are party to the Series Supplement. To the extent not defined herein, the capitalized terms used herein have the meanings assigned in full the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Convertible Debentures Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and (iii) by which such Holder is bound. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall remain operative and in full force and for all purposes have the same effect regardless as if set forth at this place. This Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose unless manually countersigned by an authorized signatory of any investigation made by or on behalf of Purchaser or any other Indemnified Partythe Trust Administrator.

Appears in 2 contracts

Sources: Pooling and Servicing Agreement (Adjustable Rate Mortgage Loan Trust 2007-2), Pooling and Servicing Agreement (Adjustable Rate Mortgage Loan Trust 2007-2)

Indemnification. (a) The Company agrees to will indemnify and hold harmless Purchaserthe Sponsor Management Entities, its Affiliates, their affiliates and each Person, if any, who controls Purchaser, or any of its Affiliates, within the meaning of the Securities Act or the Exchange Act their respective partners (each, a "Controlling Person"both general and limited), members (both managing and the respective partnersotherwise), agentsofficers, directors, employees, officers agents and Directors of Purchaser, their Affiliates and any such Controlling Person representatives (each such person being an "Indemnified PartyINDEMNIFIED PARTY") and collectively, the "Indemnified Parties"), from and against any and all losses, claims, damagesdamages and liabilities, liabilities including in connection with seeking indemnification, whether joint or several (the "LIABILITIES"), related to, arising out of or in connection with the Services contemplated by this Agreement or the engagement of the Sponsor Management Entities pursuant to, and the performance by the Sponsor Management Entities of the Services contemplated by, this Agreement, whether or not pending or threatened, whether or not an Indemnified Party is a party, whether or not resulting in any liability and whether or not such action, claim, suit, investigation or proceeding is initiated or brought by the Company. The Company will reimburse any Indemnified Party for all reasonable costs and expenses (including, without limitation including reasonable attorneys' fees and expenses) as incurred, reasonable costs of they are incurred in connection with investigating, preparing preparing, pursuing, defending or defending assisting in the defense of any such claim action, claim, suit, investigation or actionproceeding for which the Indemnified Party would be entitled to indemnification under the terms of the previous sentence, or any action or proceeding arising therefrom, whether or not such Indemnified Party is a party thereto, provided that the Company shall not be obligated to advance such costs to any Indemnified Party other than Purchaser unless it has received from such Indemnified Party an undertaking to repay to the Company the costs so advanced if it should be determined by final judgment of a court of competent jurisdiction that such Indemnified Party was not entitled to indemnification hereunder with respect to such costs) which may be incurred by such Indemnified Party in connection with any investigative, administrative or judicial proceeding brought or threatened that relates to or arises out of, or is in connection with any activities contemplated by any Transaction Agreement or any other services rendered in connection herewith; provided that the . The Company will not be responsible for liable under the foregoing indemnification provision with respect to any claimsparticular loss, liabilitiesclaim, lossesdamage, damages liability, cost or expenses that are determined by final judgment expense of a court of competent jurisdiction to result from such Indemnified Party's gross negligence, willful misconduct or bad faith. (b) If any action shall be brought against an Indemnified Party with respect to that is determined by a court, in a final judgment from which indemnity no further appeal may be sought against taken, to have resulted primarily from the Company under this Agreement, such Indemnified Party shall promptly notify the Company in writing and the Company, at its option, may, assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party and payment of all reasonable fees and expenses. The failure to so notify the Company shall not affect any obligations the Company may have to such Indemnified Party under this Agreement gross negligence or otherwise unless the Company is materially adversely affected by such failure. Such Indemnified Party shall have the right to employ separate counsel in such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense willful misconduct of such Indemnified Party, unless (i) the Company has failed to assume the defense . The attorneys' fees and employ counsel or (ii) the named parties to any such action (including any impleaded parties) include such Indemnified Party and the Company, and such other expenses of an Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Company, in which case, if such Indemnified Party notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, the Company shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, provided, however, that the Company shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be responsible hereunder for the reasonable fees and expenses of more than one such firm of separate counsel, in addition to any local counsel, which counsel shall be designated by Purchaser. The Company shall not be liable for any settlement of any such action effected without the written consent of the Company (which shall not be unreasonably withheld) and the Company agrees to indemnify and hold harmless each Indemnified Party from and against any loss or liability by reason of settlement of any action effected with the consent of the Company. In addition, the Company will not, without the prior written consent of Purchaser, settle or compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action, claim, suit or proceeding in respect to which indemnification or contribution may be sought hereunder (whether or not any Indemnified Party is a party thereto) unless such settlement, compromise, consent or termination includes an express unconditional release of Purchaser and the other Indemnified Parties, satisfactory in form and substance to Purchaser, from all liability arising out of such action, claim, suit or proceeding. (c) If for any reason the foregoing indemnity is unavailable (otherwise than pursuant to the express terms of such indemnity) to an Indemnified Party or insufficient to hold an Indemnified Party harmless, then in lieu of indemnifying such Indemnified Party, the Company shall contribute to the amount paid or payable by such Indemnified Party as a result of such claims, liabilities, losses, damages, or expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by Purchaser on the other from the transactions contemplated by this Agreement or (ii) if the allocation provided by clause (i) is not permitted under applicable lawas they are incurred upon receipt, in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and Purchaser on the othereach case, but also the relative fault of the Company and Purchaser as well as any other relevant equitable considerations. Notwithstanding the provisions of this Section 13.3, the aggregate contribution of all Indemnified Parties shall not exceed the amount of interest and fees actually received by Purchaser pursuant to this Agreement. It is hereby further agreed that the relative benefits to the Company on the one hand and Purchaser on the other with respect to the transactions contemplated hereby shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of material fact or the omission or alleged omission to state a material fact related to information supplied by the Company or by Purchaser and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. (d) The indemnification, contribution and expense reimbursement obligations set forth in this Section 13.3 (i) shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise; (ii) shall survive the termination of this Agreement and the other Transaction Agreements and the payment in full of the Convertible Debentures and (iii) shall remain operative and in full force and effect regardless of any investigation made an undertaking by or on behalf of Purchaser the Indemnified Party to repay such amounts if it is finally judicially determined that the Liabilities in question resulted primarily from the gross negligence or any other willful misconduct of such Indemnified Party.

Appears in 2 contracts

Sources: Monitoring Fee Agreement (Nalco Energy Services Equatorial Guinea LLC), Transaction and Monitoring Fee Agreement (VHS of Anaheim Inc)