Common use of Indemnity 25 Clause in Contracts

Indemnity 25. 2.1 The Service Provider shall indemnify the Postbank against any claim which may be brought against the Postbank by any third party arising from or pursuant to the Agreement as a result of the Service Provider’s breach of any of the provisions of the Agreement, provided that the Postbank shall notify the Service Provider in writing within a reasonable time of the Postbank/ RFP NO: /20/21/08/ Leasing of Postilion Switch/RM Postbank becoming aware of any such claim to enable the Service Provider to take steps to contest it and shall provide the Service Provider with such reasonable assistance as may be necessary to enable the Service Provider to defend the claim to the extent only that it is in a position to render such assistance. The Service Provider may, within five (5) days of receipt of written notice from the Postbank aforesaid, elect in writing to contest such a claim in the name of the Postbank and shall be entitled to control the proceedings in regard thereto. The Service Provider indemnifies the Postbank against all and any costs (including attorney and own client costs) which may be incurred by or awarded against the Postbank as a consequence of the Postbank’s and/or the Service Provider’s defense of the claim. 26 INSOLVENCY 26.1 Should the Service Provider seek to compromise with its creditors, or if execution is issued against the Service Provider by virtue of any judgment, or if the Service Provider is placed under judicial management, or commences to be wound up in a liquidation that is not merely a voluntary liquidation for the purpose of reconstruction, then the Postbank may, without prejudice to any of its rights in terms of the Agreement or common law, forthwith terminate the Agreement without notice to the Service Provider. 27 CONSORTIA/ JOINT VENTURES

Appears in 2 contracts

Samples: tenderbulletins.co.za, tenderbulletins.co.za

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Indemnity 25. 2.1 The Service Provider shall indemnify the Postbank Post Office against any claim which may be brought against the Postbank Post Office by any third party arising from or pursuant to the Agreement as a result of the Service Provider’s breach of any of the provisions of the Agreement, provided that the Postbank Post Office shall notify the Service Provider in writing within a reasonable time of the Postbank/ Post Office RFP NO: /20/21/08/ Leasing 20/21/13/Preparation of Postilion SwitchAnnual Financial Statements/RM Postbank DW becoming aware of any such claim to enable the Service Provider to take steps to contest it and shall provide the Service Provider with such reasonable assistance as may be necessary to enable the Service Provider to defend the claim to the extent only that it is in a position to render such assistance. The Service Provider may, within five (5) days of receipt of written notice from the Postbank Post Office aforesaid, elect in writing to contest such a claim in the name of the Postbank Post Office and shall be entitled to control the proceedings in regard thereto. The Service Provider indemnifies the Postbank Post Office against all and any costs (including attorney and own client costs) which may be incurred by or awarded against the Postbank Post Office as a consequence of the PostbankPost Office’s and/or the Service Provider’s defense of the claim. 26 INSOLVENCY 26.1 Should the Service Provider seek to compromise with its creditors, or if execution is issued against the Service Provider by virtue of any judgment, or if the Service Provider is placed under judicial management, or commences to be wound up in a liquidation that is not merely a voluntary liquidation for the purpose of reconstruction, then the Postbank Post Office may, without prejudice to any of its rights in terms of the Agreement or common law, forthwith terminate the Agreement without notice to the Service Provider. 27 CONSORTIA/ JOINT VENTURES

Appears in 1 contract

Samples: tenderbulletins.co.za

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Indemnity 25. 2.1 The Service Provider shall indemnify the Postbank against any claim which may be brought against the Postbank by any third party arising from or pursuant to the Agreement as a result of the Service Provider’s breach of any of the provisions of the Agreement, provided that the Postbank shall notify the Service Provider in writing within a reasonable time of the Postbank/ RFP RFPPB NO: /20/21/08/ /20/21/12/ Leasing of Postilion Switch/RM Postbank becoming aware of any such claim to enable the Service Provider to take steps to contest it and shall provide the Service Provider with such reasonable assistance as may be necessary to enable the Service Provider to defend the claim to the extent only that it is in a position to render such assistance. The Service Provider may, within five (5) days of receipt of written notice from the Postbank aforesaid, elect in writing to contest such a claim in the name of the Postbank and shall be entitled to control the proceedings in regard thereto. The Service Provider indemnifies the Postbank against all and any costs (including attorney and own client costs) which may be incurred by or awarded against the Postbank as a consequence of the Postbank’s and/or the Service Provider’s defense of the claim. 26 INSOLVENCY 26.1 Should the Service Provider seek to compromise with its creditors, or if execution is issued against the Service Provider by virtue of any judgment, or if the Service Provider is placed under judicial management, or commences to be wound up in a liquidation that is not merely a voluntary liquidation for the purpose of reconstruction, then the Postbank may, without prejudice to any of its rights in terms of the Agreement or common law, forthwith terminate the Agreement without notice to the Service Provider. 27 CONSORTIA/ JOINT VENTURES

Appears in 1 contract

Samples: etenders.treasury.gov.za

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