SECTION 7 - INDEMNIFICATION. Buyer and the Seller agree to hold harmless and indemnify one another from any such claims or future claims, as the case may be, related to this Agreement. Additionally, Buyer and Seller agree to reimburse one another immediately for any and all expenses, including, without limitation, attorney fees, incurred by Buyer or Seller in connection with investigating, preparing to defend or defending, or otherwise being involved in, any lawsuits, claims or other proceedings arising out of or in connection with or relating in any manner, directly or indirectly, to this Agreement (as defendant, nonparty, or in any other capacity other than as a plaintiff, including, without limitation, as a party in an interpleader action). The Parties further agree that the indemnification and reimbursement commitments set forth in this paragraph shall extend to any controlling person, strategic alliance, partner, member, shareholder, director, officer, employee, attorney, agent or subcontractor of Buyer and their heirs, legal representatives, successors and assigns. The provisions set forth in this section shall survive any termination of this Agreement.
Appears in 2 contracts
Sources: Share Exchange Agreement (Shrink Nanotechnologies, Inc.), Share Exchange Agreement (Blackbox Semiconductor, Inc.)