Limits upon Indemnification Clause Samples
The "Limits upon Indemnification" clause defines the boundaries and restrictions on a party's obligation to compensate another for losses or damages. Typically, this clause sets caps on the total amount recoverable, excludes certain types of damages (such as consequential or punitive damages), or limits indemnification to specific circumstances or timeframes. By establishing these parameters, the clause helps manage risk exposure and provides predictability for both parties regarding potential liabilities.
Limits upon Indemnification. The obligation to provide the above described indemnification's are conditioned upon and subject to the following limitations:
Limits upon Indemnification. A party’s duty to indemnify, hold harmless and defend the other party and its parent, subsidiary or affiliated organizations, administrators, agents, attorneys, beneficiaries, conservators, custodians, directors, employees, executors, guardians, heirs, independent contractors, joint venturers, managers, members, officers, partners, predecessors, representatives, servants, stockholders, successors, trustees and all others acting for, under, or in concert with it, including associations, corporations, limited liability companies, and general or limited partnerships, present, and future, (collectively “Indemnitees” on a generic basis) shall extend to and encompass all reasonable charges, costs, expenses and fees incurred by the Indemnitees in defending such actions, arbitrations, claims, costs, disbursements, debts, deficiencies, demands, expenses fees, injuries, judgments, lawsuits, legal or administrative proceedings liabilities, litigation, losses, mediation, penalties, recoveries and/or sanctions described in Section 11.1 or 11.2, as applicable, including, without limitation, reasonable attorneys’ fees and disbursements, arbitration, court and/or mediation costs, witness and expert witness fees, and any other arbitration, litigation and mediation -related expenses. The indemnifying party shall pay any reasonable cost and/or expense that may be incurred by the Indemnitees in enforcing this indemnity, including, without limitation, reasonable attorney fees and disbursements.