Common use of Terms of Indemnification Clause in Contracts

Terms of Indemnification. The obligations and liabilities of the Company with respect to Claims by third parties will be subject to the following terms and conditions: (a) a Purchaser Indemnitee will give the Company prompt notice of any Claims asserted against, resulting to, imposed upon or incurred by such Purchaser Indemnitee, directly or indirectly, and the Company will undertake the defense thereof by representatives of their own choosing which are reasonably satisfactory to such Purchaser Indemnitee; provided that the failure of any Purchaser Indemnitee to give notice as provided in Section 11.3 shall not relieve the Company of its obligations under this Article 9; (b) if within a reasonable time after notice of any Claim, the Company fails to defend, such Purchaser Indemnitee will have the right to undertake the defense, compromise or settlement of such Claims on behalf of and for the account and at the risk of the Company, subject to the right of the Company to assume the defense of such Claim at any time prior to settlement, compromise or final determination thereof; (c) if there is a reasonable probability that a Claim may materially and adversely affect a Purchaser Indemnitee other than as a result of money damages or other money payments, such Purchaser Indemnitee will have the right at its own expense to defend, or co-defend, such Claim; (d) neither the Company nor the Purchaser Indemnitee will, without the prior written consent of the other, settle or compromise any Claim or consent to entry of any judgment relating to any such Claim; (e) with respect to any Claims asserted against a Purchaser Indemnitee, such Purchaser Indemnitee will have the right to employ one counsel of its choice in each applicable jurisdiction (if more than one jurisdiction is involved) to represent such Purchaser Indemnitee if, in such Purchaser Indemnitee’s reasonable judgment, a conflict of interest between such Purchaser Indemnitee and the Company exists in respect of such Claims, and in that event the fees and expenses of such separate counsel shall be paid by the Company; and (f) the Company will provide each Purchaser Indemnitee reasonable access to all records and documents of the Company relating to any Claim.

Appears in 5 contracts

Samples: Securities Purchase Agreement (You on Demand Holdings, Inc.), Securities Purchase Agreement (Beijing Sun Seven Stars Culture Development LTD), Securities Purchase Agreement (You on Demand Holdings, Inc.)

AutoNDA by SimpleDocs

Terms of Indemnification. The obligations and liabilities of the Company with respect to Claims by third parties will be subject to the following terms and conditions: (a) a Purchaser Indemnitee will give the Company prompt notice of any Claims asserted against, resulting to, imposed upon or incurred by such Purchaser Indemnitee, directly or indirectly, and the Company will undertake the defense thereof by representatives of their own choosing which are reasonably satisfactory to such Purchaser Indemnitee; provided that the failure of any Purchaser Indemnitee to give notice as provided in Section 11.3 8.3 shall not relieve the Company of its obligations under this Article 9; (b) if within a reasonable time after notice of any Claim, the Company fails to defend, such Purchaser Indemnitee will have the right to undertake the defense, compromise or settlement of such Claims on behalf of and for the account and at the risk of the Company, subject to the right of the Company to assume the defense of such Claim at any time prior to settlement, compromise or final determination thereof; (c) if there is a reasonable probability that a Claim may materially and adversely affect a Purchaser Indemnitee other than as a result of money damages or other money payments, such Purchaser Indemnitee will have the right at its own expense to defend, or co-defend, such Claim; (d) neither the Company nor the Purchaser Indemnitee will, without the prior written consent of the other, settle or compromise any Claim or consent to entry of any judgment relating to any such Claim; (e) with respect to any Claims asserted against a Purchaser Indemnitee, such Purchaser Indemnitee will have the right to employ one counsel of its choice in each applicable jurisdiction (if more than one jurisdiction is involved) to represent such Purchaser Indemnitee if, in such Purchaser Indemnitee’s reasonable judgment, a conflict of interest between such Purchaser Indemnitee and the Company exists in respect of such Claims, and in that event the fees and expenses of such separate counsel shall be paid by the Company; and (f) the Company will provide each Purchaser Indemnitee reasonable access to all records and documents of the Company relating to any Claim.

Appears in 3 contracts

Samples: Common Stock Purchase Agreement (Wecast Network, Inc.), Common Stock Purchase Agreement (You on Demand Holdings, Inc.), Common Stock Purchase Agreement (You on Demand Holdings, Inc.)

Terms of Indemnification. The obligations and liabilities of the Company Seller and Guarantor with respect to Claims by third parties will be subject to the following terms and conditions: (a) a Purchaser Indemnitee will give the Company Seller prompt notice of any Claims asserted against, resulting to, imposed upon or incurred by such Purchaser Indemnitee, directly or indirectly, and the Company Seller will undertake the defense thereof by representatives of their own choosing which are reasonably satisfactory to such Purchaser Indemnitee; provided that the failure of any Purchaser Indemnitee to give notice as provided in Section 11.3 10.3 shall not relieve the Company Seller of its obligations under this Article 98; (b) if within a reasonable time after notice of any Claim, the Company Seller fails to defend, such Purchaser Indemnitee will have the right to undertake the defense, compromise or settlement of such Claims on behalf of and for the account and at the risk of the CompanySeller, subject to the right of the Company Seller to assume the defense of such Claim at any time prior to settlement, compromise or final determination thereof; (c) if there is a reasonable probability that a Claim may materially and adversely affect a Purchaser Indemnitee other than as a result of money damages or other money payments, such Purchaser Indemnitee will have the right at its own expense to defend, or co-defend, such Claim; (d) neither the Company Seller nor the Purchaser Indemnitee will, without the prior written consent of the other, settle or compromise any Claim or consent to entry of any judgment relating to any such Claim; (e) with respect to any Claims asserted against a Purchaser Indemnitee, such Purchaser Indemnitee will have the right to employ one counsel of its choice in each applicable jurisdiction (if more than one jurisdiction is involved) to represent such Purchaser Indemnitee if, in such Purchaser Indemnitee’s reasonable judgment, a conflict of interest between such Purchaser Indemnitee and the Company Seller exists in respect of such Claims, and in that event the fees and expenses of such separate counsel shall be paid by the CompanySeller; and (f) the Company Seller will provide each Purchaser Indemnitee reasonable access to all records and documents of the Company Seller relating to any Claim.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Seven Stars Cloud Group, Inc.), Securities Purchase Agreement (Wecast Network, Inc.)

Terms of Indemnification. The obligations and liabilities of the Company Seller with respect to Claims claims by third parties will be subject to the following terms and conditions: (a) a Purchaser Indemnitee will give the Company Seller prompt notice of any Claims claims asserted against, resulting to, imposed upon or incurred by such Purchaser Indemnitee, directly or indirectly, and the Company Seller will undertake the defense thereof by representatives of their own choosing which are reasonably satisfactory to such Purchaser Indemnitee; provided that the failure of any Purchaser Indemnitee to give notice as provided in Section 11.3 shall not relieve the Company of its obligations under this Article 9; (b) if within a reasonable time after notice of any Claimclaim, the Company Seller fails to defend, such Purchaser Indemnitee will have the right to undertake the defense, compromise or settlement of such Claims claims on behalf of and for the account and at the risk of the CompanySeller, subject to the right of the Company Seller to assume the defense of such Claim claim at any time prior to settlement, compromise or final determination thereof; (c) if there is a reasonable probability that a Claim claim may materially and adversely affect a Purchaser Indemnitee other than as a result of money damages or other money payments, such Purchaser Indemnitee will have the right at its own expense to defend, or co-defend, such Claimclaim; (d) neither the Company Seller nor the Purchaser Indemnitee will, without the prior written consent of the other, settle or compromise any Claim claim or consent to entry of any judgment relating to any such Claimclaim; (e) with respect to any Claims claims asserted against a Purchaser Indemnitee, such Purchaser Indemnitee will have the right to employ one counsel of its choice in each applicable jurisdiction (if more than one jurisdiction is involved) to represent such Purchaser Indemnitee if, in such Purchaser Indemnitee’s reasonable judgment, a conflict of interest between such Purchaser Indemnitee and the Company Seller exists in respect of such Claimsclaims, and in that event the fees and expenses of such separate counsel shall be paid by the CompanySeller; and (f) the Company Seller will provide each Purchaser Indemnitee reasonable access to all records and documents of the Company Seller relating to any Claimclaim.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Seven Stars Cloud Group, Inc.), Securities Purchase Agreement (Seven Stars Cloud Group, Inc.)

Terms of Indemnification. The obligations and liabilities of the Company with respect to Claims by third parties will be subject to the following terms and conditions: (a) a Purchaser Indemnitee will give the Company prompt notice of any Claims asserted against, resulting to, imposed upon or incurred by such Purchaser Indemnitee, directly or indirectly, and the Company will undertake the defense thereof by representatives of their own choosing which are reasonably satisfactory to such Purchaser Indemnitee; provided that the failure of any Purchaser Indemnitee to give notice as provided in Section 11.3 shall not relieve the Company of its obligations under this Article 9; (b) if within a reasonable time after notice of any Claim, the Company fails to defend, such Purchaser Indemnitee will have the right to undertake the defense, compromise or settlement of such Claims on behalf of and for the account and at the risk of the Company, subject to the right of the Company to assume the defense of such Claim at any time prior to settlement, compromise or final determination thereof; (c) if there is a reasonable probability that a Claim may materially and adversely affect a Purchaser Indemnitee other than as a result of money damages or other money payments, such Purchaser Indemnitee will have the right at its own expense to defend, or co-defend, such Claim; (d) neither the Company nor the Purchaser Indemnitee will, without the prior written consent of the other, settle or compromise any Claim or consent to entry of any judgment relating to any such Claim; (e) with respect to any Claims asserted against a Purchaser Indemnitee, such Purchaser Indemnitee will have the right to employ one counsel of its choice in each applicable jurisdiction (if more than one jurisdiction is involved) to represent such Purchaser Indemnitee if, in such Purchaser Indemnitee’s 's reasonable judgment, a conflict of interest between such Purchaser Indemnitee and the Company exists in respect of such Claims, and in that event the fees and expenses of such separate counsel shall be paid by the Company; and (f) the Company will provide each Purchaser Indemnitee reasonable access to all records and documents of the Company relating to any Claim.

Appears in 1 contract

Samples: Series E Preferred Stock Purchase Agreement (You on Demand Holdings, Inc.)

Terms of Indemnification. The obligations Subject to the terms and liabilities provisions of this Article 9, (a) Seller shall indemnify the Company with respect to Claims Purchaser, its Affiliates and its respective directors, officers, employees and agents (collectively, the "Purchaser Parties") against, and shall protect, defend and hold harmless the Purchaser Parties from, all Losses (whether arising from claims by third parties will be subject or otherwise incurred or suffered by the Purchaser Parties) arising out of, relating to or resulting from (i) any breach or inaccuracy of any of Seller's representations or warranties contained in this Agreement, including the schedules hereto (without giving effect to any amendment to the following terms and conditions: schedules), (aii) a Purchaser Indemnitee will give any failure by Seller to perform or comply with its covenants or agreements contained in this Agreement, (iii) any claims brought by Xxxxxxx pursuant to the Company prompt notice of Xxxxxxx Stock Purchase Agreement; (iv) any Claims asserted againstfailure by Seller to pay or perform when due the Excluded Liabilities, resulting to, imposed upon (v) any Losses arising from any Proceeding based on events or incurred by such Purchaser Indemnitee, directly or indirectlycircumstances occurring prior to the Closing, and (vi) the Company will undertake Lien held by The Terminal Marketing Group, Inc. to the defense thereof by representatives of their own choosing which are reasonably satisfactory to such Purchaser Indemnitee; provided extent that the failure of any Purchaser Indemnitee same has not been released prior to give notice as provided in Section 11.3 shall not relieve the Company of its obligations under this Article 9Closing; and (b) if within a reasonable time after notice Purchaser shall indemnify Seller, its Affiliates and their respective directors, officers, employees and agents (collectively, the "Seller Parties") against, and shall protect, defend and hold harmless the Seller Parties from, all Losses arising out of or resulting from (i) any breach or inaccuracy of any Claimof Purchaser's representations or warranties contained in this Agreement, (ii) any failure by Purchaser to perform or comply with its covenants or agreements contained in this Agreement, (iii) any failure by Purchaser to pay or perform when due the Company fails to defend, such Purchaser Indemnitee will have the right to undertake the defense, compromise or settlement of such Claims on behalf of and for the account and at the risk of the Company, subject to the right of the Company to assume the defense of such Claim at any time prior to settlement, compromise or final determination thereof; (c) if there is a reasonable probability that a Claim may materially and adversely affect a Purchaser Indemnitee other than as a result of money damages or other money payments, such Purchaser Indemnitee will have the right at its own expense to defend, or co-defend, such Claim; (d) neither the Company nor the Purchaser Indemnitee will, without the prior written consent of the other, settle or compromise any Claim or consent to entry of any judgment relating to any such Claim; (e) with respect to any Claims asserted against a Purchaser Indemnitee, such Purchaser Indemnitee will have the right to employ one counsel of its choice in each applicable jurisdiction (if more than one jurisdiction is involved) to represent such Purchaser Indemnitee if, in such Purchaser Indemnitee’s reasonable judgment, a conflict of interest between such Purchaser Indemnitee and the Company exists in respect of such ClaimsAssumed Liabilities, and in that event (iv) any Losses arising from any Proceeding based on events or circumstances occurring after the fees and expenses of such separate counsel shall be paid by the Company; and (f) the Company will provide each Purchaser Indemnitee reasonable access to all records and documents of the Company relating to any ClaimClosing.

Appears in 1 contract

Samples: Asset Purchase Agreement (Loudeye Corp)

Terms of Indemnification. The obligations and liabilities of the Company with respect to Claims by third parties will be subject to the following terms and conditions: (a) a Purchaser Indemnitee will give the Company prompt notice of any Claims asserted against, resulting to, imposed upon or incurred by such Purchaser Indemnitee, directly or indirectly, and the Company will undertake the defense thereof by representatives of their own choosing which are reasonably satisfactory to such Purchaser Indemnitee; provided that the failure of any Purchaser Indemnitee to give notice as provided in this Section 11.3 11.2 shall not relieve the Company of its obligations under this Article 911, except to the extent that such failure has materially and adversely affected the rights of the Company; (b) if within a reasonable time after notice of any Claim, the Company fails to defend, such Purchaser Indemnitee will have the right to undertake the defense, compromise or settlement of such Claims on behalf of and for the account and at the risk of the Company, subject to the right of the Company to assume the defense of such Claim at any time prior to settlement, compromise or final determination thereof; (c) if there is a reasonable probability that a Claim may materially and adversely affect a Purchaser Indemnitee other than as a result of money damages or other money payments, such Purchaser Indemnitee will have the right at its own expense to defend, or co-defend, such Claim; (d) neither the Company nor the Purchaser Indemnitee will, without the prior written consent of the other, settle or compromise any Claim or consent to entry of any judgment relating to any such Claim; (e) with respect to any Claims asserted against a Purchaser Indemnitee, such Purchaser Indemnitee will have the right to employ one counsel of its choice in each applicable jurisdiction (if more than one jurisdiction is involved) to represent such Purchaser Indemnitee if, in such Purchaser Indemnitee’s 's reasonable judgment, a conflict of interest between such Purchaser Indemnitee and the Company exists in respect of such Claims, and in that event the fees and expenses of such separate counsel shall be paid by the CompanyCompany party; and (f) the Company will provide each Purchaser Indemnitee reasonable access to all records and documents of the Company relating to any Claim.

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (Strayer Education Inc)

AutoNDA by SimpleDocs

Terms of Indemnification. The obligations and liabilities of the Company Seller with respect to Claims by third parties will be subject to the following terms and conditions: (a) a Purchaser Indemnitee will give the Company Seller prompt notice of any Claims asserted against, resulting to, imposed upon or incurred by such Purchaser Indemnitee, directly or indirectly, and the Company Seller will undertake the defense thereof by representatives of their own choosing which are reasonably satisfactory to such Purchaser Indemnitee; provided that the failure of any Purchaser Indemnitee to give notice as provided in Section 11.3 10.3 shall not relieve the Company Seller of its obligations under this Article 98; (b) if within a reasonable time after notice of any Claim, the Company Seller fails to defend, such Purchaser Indemnitee will have the right to undertake the defense, compromise or settlement of such Claims on behalf of and for the account and at the risk of the CompanySeller, subject to the right of the Company Seller to assume the defense of such Claim at any time prior to settlement, compromise or final determination thereof; (c) if there is a reasonable probability that a Claim may materially and adversely affect a Purchaser Indemnitee other than as a result of money damages or other money payments, such Purchaser Indemnitee will have the right at its own expense to defend, or co-defend, such Claim; (d) neither the Company Seller nor the Purchaser Indemnitee will, without the prior written consent of the other, settle or compromise any Claim or consent to entry of any judgment relating to any such Claim; (e) with respect to any Claims asserted against a Purchaser Indemnitee, such Purchaser Indemnitee will have the right to employ one counsel of its choice in each applicable jurisdiction (if more than one jurisdiction is involved) to represent such Purchaser Indemnitee if, in such Purchaser Indemnitee’s reasonable judgment, a conflict of interest between such Purchaser Indemnitee and the Company Seller exists in respect of such Claims, and in that event the fees and expenses of such separate counsel shall be paid by the CompanySeller; and (f) the Company Seller will provide each Purchaser Indemnitee reasonable access to all records and documents of the Company Seller relating to any Claim.

Appears in 1 contract

Samples: Securities Purchase Agreement (Wecast Network, Inc.)

Terms of Indemnification. The obligations and liabilities of the Company with respect to Claims by third parties will be subject to the following terms and conditions: (a) a Purchaser Indemnitee will give the Company prompt notice of any Claims asserted against, resulting to, imposed upon or incurred by such Purchaser Indemnitee, directly or indirectly, and the Company will undertake the defense thereof by representatives of their own choosing which are reasonably satisfactory to such Purchaser Indemnitee; provided that the failure of any Purchaser Indemnitee to give notice as provided in this Section 11.3 11.2 shall not relieve the Company of its obligations under this Article 911, except to the extent that such failure has materially and adversely affected the rights of the Company; (b) if within a reasonable time after notice of any Claim, the Company fails to defend, such Purchaser Indemnitee will have the right to undertake the defense, compromise or settlement of such Claims on behalf of and for the account and at the risk of the Company, subject to the right of the Company to assume the defense of such Claim at any time prior to settlement, compromise or final determination thereof; (c) if there is a reasonable probability that a Claim may materially and adversely affect a Purchaser Indemnitee other than as a result of money damages or other money payments, such Purchaser Indemnitee will have the right at its own expense to defend, or co-defend, such Claim; (d) neither the Company nor the Purchaser Indemnitee will, without the prior written consent of the other, settle or compromise any Claim or consent to entry of any judgment relating to any such Claim; (e) with respect to any Claims asserted against a Purchaser Indemnitee, such Purchaser Indemnitee will have the right to employ one counsel of its choice in each applicable jurisdiction (if more than one jurisdiction is involved) to represent such Purchaser Indemnitee if, in such Purchaser Indemnitee’s 's reasonable judgment, a conflict of interest between such Purchaser Indemnitee and the Company exists in respect of such Claims, and in that event the fees and expenses of such separate counsel shall be paid by the Company; and (f) the Company will provide each Purchaser Indemnitee reasonable access to all records and documents of the Company relating to any Claim.

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (New Mountain Partners Lp)

Terms of Indemnification. The obligations and liabilities of the Company or Purchaser with respect to Claims by third parties will be subject to the following terms and conditions: (a) a Purchaser or Company Indemnitee ("Indemnitee"), as applicable, will give the Company other party prompt notice of any Claims asserted against, resulting to, imposed upon or incurred by such Purchaser Indemnitee, directly or indirectly, and the Company party subject to the Section 11.1 indemnification obligation ("Indemnifying Party") will undertake the defense thereof by representatives of their own choosing which are reasonably satisfactory to such Purchaser Indemnitee; provided that the failure of any Purchaser Indemnitee to give notice as provided in this Section 11.3 11.2 shall not relieve the Company Indemnifying Party of its obligations under this Article 911, except to the extent that such failure has materially and adversely affected the rights of the Indemnifying Party; (b) if within a reasonable time after notice of any Claim, the Company Indemnifying Party fails to defend, such Purchaser Indemnitee will have the right to undertake the defense, compromise or settlement of such Claims on behalf of and for the account and at the risk of the CompanyIndemnifying Party, subject to the right of the Company Indemnifying Party to assume the defense of such Claim at any time prior to settlement, compromise or final determination thereof; (c) if there is a reasonable probability that a Claim may materially and adversely affect a Purchaser an Indemnitee other than as a result of money damages or other money payments, such Purchaser Indemnitee will have the right at its own expense to defend, or co-defend, such Claim; (d) neither the Company Indemnifying Party nor the Purchaser Indemnitee will, without the prior written consent of the other, settle or compromise any Claim or consent to entry of any judgment relating to any such Claim; (e) with respect to any Claims asserted against a Purchaser Indemnitee, such Purchaser Indemnitee will have the right to employ one counsel of its choice in each applicable jurisdiction (if more than one jurisdiction is involved) to represent such Purchaser Indemnitee if, in such Purchaser Indemnitee’s 's reasonable judgment, a conflict of interest between such Purchaser Indemnitee and the Company Indemnifying Party exists in respect of such Claims, and in that event the fees and expenses of such separate counsel shall be paid by the Company; and (f) the Company Indemnifying Party will provide each Purchaser Indemnitee reasonable access to all records and documents of the Company relating to any Claim.

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (Res Care Inc /Ky/)

Time is Money Join Law Insider Premium to draft better contracts faster.