Common use of Other indemnities Clause in Contracts

Other indemnities. (a) The Company acknowledges and agrees that the obligation of the Company under this Agreement to indemnify or advance expenses to any Covered Person for the matters covered thereby shall be the primary source of indemnification and advancement of such Covered Person in connection therewith and any obligation on the part of any Covered Person under any Other Indemnification Agreement to indemnify or advance expenses to such Covered Person shall be secondary to the Company’s obligation and shall be reduced by any amount that the Covered Person may collect as indemnification or advancement from the Company. If the Company fails to indemnify or advance expenses to a Covered Person as required or contemplated by this Agreement, and any Person makes any payment to such Covered Person in respect of indemnification or advancement of expenses under any Other Indemnification Agreement on account of such Unpaid Indemnity Amounts, such other Person shall be subrogated to the rights of such Covered Person under this Agreement in respect of such Unpaid Indemnity Amounts.

Appears in 30 contracts

Samples: Limited Liability Company Agreement (TCEH Finance, Inc.), Limited Liability Company Agreement (TCEH Finance, Inc.), Limited Liability Company Agreement (TCEH Finance, Inc.)

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Other indemnities. (a) The Company acknowledges and agrees that the obligation of the Company under this Agreement to indemnify or advance expenses to any Covered Person Indemnitee for the matters covered thereby shall be the primary source of indemnification and advancement of such Covered Person Indemnitee in connection therewith and any obligation on the part of any Covered Person Indemnitee under any Other Indemnification Agreement to indemnify or advance expenses to such Covered Person Indemnitee shall be secondary to the Company’s obligation and shall be reduced by any amount that the Covered Person Indemnitee may collect as indemnification or advancement from the Company. If the Company fails to indemnify or advance expenses to a Covered Person an Indemnitee as required or contemplated by this Agreement, and any Person makes any payment to such Covered Person Indemnitee in respect of indemnification or advancement of expenses under any Other Indemnification Agreement on account of such Unpaid Indemnity Amounts, such other Person shall be subrogated to the rights of such Covered Person Indemnitee under this Agreement in respect of such Unpaid Indemnity Amounts.

Appears in 10 contracts

Samples: Limited Liability Company Agreement (Vine Energy Inc.), Limited Liability Company Agreement (Vine Resources Inc.), Limited Liability Company Agreement (Crestwood Midstream Partners LP)

Other indemnities. (a) The Company acknowledges and agrees that the obligation of the Company under this Agreement to indemnify or advance expenses to any Covered Person for the matters covered thereby shall be the primary source of indemnification and advancement of such Covered Person in connection therewith and any obligation on the part of any Covered Person under any Other Indemnification Agreement to indemnify or advance expenses to such Covered Person shall be secondary to the Company’s 's obligation and shall be reduced by any amount that the Covered Person may collect as indemnification or advancement from the Company. If the Company fails to indemnify or advance expenses to a Covered Person as required or contemplated by this Agreement, and any Person makes any payment to such Covered Person in respect of indemnification or advancement of expenses under any Other Indemnification Agreement on account of such Unpaid Indemnity Amounts, such other Person shall be subrogated to the rights of such Covered Person under this Agreement in respect of such Unpaid Indemnity Amounts.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Energy Future Intermediate Holding CO LLC), Limited Liability Company Agreement (Energy Future Competitive Holdings CO)

Other indemnities. (a) The Company acknowledges and agrees that the obligation of the Company under this Agreement to indemnify or advance expenses to any Covered Person Indemnitee for the matters covered thereby shall be the primary source of indemnification and advancement of such Covered Person Indemnitee in connection therewith and any obligation on the part of any Covered Person under any Other Indemnification Agreement to indemnify or advance expenses to such Covered Person Indemnitee shall be secondary to the Company’s obligation and shall be reduced by any amount that the Covered Person Indemnitee may collect as indemnification or advancement from the Company. If the Company fails to indemnify or advance expenses to a Covered Person an Indemnitee as required or contemplated by this Agreement, and any Person makes any payment to such Covered Person Indemnitee in respect of indemnification or advancement of expenses under any Other Indemnification Agreement on account of such Unpaid Indemnity Amounts, such other Person shall be subrogated to the rights of such Covered Person Indemnitee under this Agreement in respect of such Unpaid Indemnity Amounts.

Appears in 2 contracts

Samples: Membership Interests, Limited Liability Company Agreement

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Other indemnities. (a) The Company acknowledges and agrees that the obligation of the Company under this Agreement to indemnify or advance expenses to any Covered Person Indemnitee for the matters covered thereby shall hereby will be the primary source of indemnification and advancement of such Covered Person for the Indemnitee in connection 77 therewith and any obligation on the part of any Covered Person under any Other Indemnification Agreement to indemnify or advance expenses to such Covered Person shall the Indemnitee will be secondary to the Company’s obligation and shall will be reduced by any amount that the Covered Person Indemnitee may collect as indemnification or advancement from the Company. If the Company fails to indemnify or advance expenses to a Covered Person an Indemnitee as required or contemplated by this Agreement, and any a Person makes any payment to such Covered Person in respect of pays the Indemnitee regarding indemnification or advancement of expenses under any Other Indemnification Agreement on account because of such the Unpaid Indemnity Amounts, such the other Person shall will be subrogated to the rights of such Covered Person the Indemnitee under this Agreement in respect of such regarding the Unpaid Indemnity Amounts.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Unit Corp)

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