Common use of Prosecution, Defense and Settlement of Claims; Indemnification Clause in Contracts

Prosecution, Defense and Settlement of Claims; Indemnification. A. The Managing Partner shall arrange to prosecute, defend, settle or compromise actions at law or in equity at the expense of the Production Partnership as may be necessary to enforce or protect the interests of the Production Partnership. The Managing Partner shall satisfy any judgment, decree, decision or settlement, first, out of any insurance proceeds available therefor, next, out of the Production Partnership assets and Income, and, finally, out of the assets of the Managing Partner and the general partner of the Limited Partnership.