Common use of Notice and Other Indemnification Procedures Clause in Contracts

Notice and Other Indemnification Procedures. (a) Promptly after receipt by the Agent of notice of the commencement of or the threat of commencement of any action, suit or proceeding, the Agent shall, if the Agent believes that indemnification with respect thereto may be sought from the Corporation under this Agreement, notify the Corporation of the commencement or threat of commencement thereof; provided, however, that failure of Agent to provide such notice will not relieve the Corporation of its liability hereunder if the Corporation receives notice of such action, suit or proceeding from any other source.