Common use of Third Party Claims Clause in Contracts

Third Party Claims. (a) In the event that any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 2 contracts

Sources: Contribution Agreement (Dynamic Offshore Resources, Inc.), Contribution Agreement (Dynamic Offshore Resources, Inc.)

Third Party Claims. (a) In the event that any Person desires to make If a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder by a Third Party (a “Third Third-Party Claim”), the Person or Persons entitled to indemnification hereunder (the “) is made against any Indemnified Party”) , and if such party intends to seek indemnity with respect thereto under this Section 8.7, such Indemnified Party shall promptly notify the Indemnifying Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Third‑Party Claim and by delivery of a Claim Certificate; provided, that the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice so notify shall not relieve the Indemnifying Parties Party of their its obligations under this Article Xhereunder, except to the extent, if at all, extent that the Claim Certificate is not delivered to the Indemnifying Parties shall have been Party within the relevant survival period set forth in Section 8.1 or the Indemnifying Party is actually and materially prejudiced thereby. The Indemnifying Party shall notify the Indemnified Party in writing, as promptly as possible (but in any case before the due date for the answer or response to the Third-Party Claim) after receipt of such notice of its election to assume the conduct and control, at the expense of the Indemnifying Party, through counsel of its choosing, of the settlement or defense of such Third‑Party Claim and the Indemnified Party shall cooperate with it in connection therewith. Notwithstanding any other provision of this Agreement, Section 6.7(f) shall govern with respect to Tax Contests. (b) Upon receipt of notice from the Any Indemnified Party pursuant shall have the right to Section 10.5(a) and provided that employ separate counsel for the purpose of participating with the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate its counsel in the defense of such Third Third‑Party Claim, but the fees and expenses of such counsel shall not be at the expense of the Indemnifying Party unless (i) the Indemnifying Party is not entitled to, or shall have failed to, assume the defense of such Third‑Party Claim with its own as set forth in Section 8.7(c), (ii) the employment of such counsel has been specifically authorized in writing by the Indemnifying Party or (iii) the named parties to any such action (including any impleaded parties) include both such Indemnified Party and at its own expensethe Indemnifying Party and such Indemnified Party shall have been advised in writing by such counsel that there is a conflict of interest between the Indemnified Party and the Indemnifying Party. The Indemnified Party shall not pay or settle any such Third‑Party Claim. Notwithstanding the foregoing, the Indemnified Party shall have the right to pay or settle any such Third‑Party Claim only as to itself; provided, that if an Indemnifying Party is also subject in such event it shall waive any right to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between indemnity therefor by the Indemnifying Party and the Indemnified Party, then for such Third‑Party Claim unless the Indemnifying Parties Party shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related have consented to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense payment or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Partiessettlement. (c) The Notwithstanding anything in this Section 8.7 to the contrary, the Indemnified Party shall have the right to conduct and control, through counsel of its choosing at the expense of the Indemnifying Parties shall be authorized to consent to a Party, the defense, compromise and settlement of, or the entry of any judgment arising from, any Third Third-Party Claim, without Claim (i) that seeks as the consent of any sole remedy an injunction or other equitable relief against the Indemnified Party; but only , (ii) that seeks any remedy against the Indemnified Party that does not include the payment of money damages, (iii) to the extent that such claim seeks money damages in an amount that would be reasonably expected to exceed the then remaining limit on the Sellers’ liability under Section 8.4 at the time such claim is submitted by the Indemnified Party or (iv) if the Indemnifying Parties Party reasonably shall have concluded (iupon advice of its counsel) pay that, with respect to such claims, the Indemnified Party and the Indemnifying Party are reasonably likely to have a conflict of interest. Additionally, if the Indemnifying Party does not notify the Indemnified Party in accordance with Section 8.7(a) that it elects to undertake the defense AMERICAS 92199813 (2K) -45- thereof, the Indemnified Party shall have the right to contest, settle or cause to be paid all amounts arising out of such settlement or judgment concurrently with compromise and otherwise control the effectiveness of such settlement; (ii) not encumber any defense of the assets Third‑Party Claim through counsel of its choosing but shall not thereby waive any Indemnified Party or agree right to any restriction or condition that would apply indemnity therefor pursuant to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claimthis Agreement. (d) Each The Indemnifying Party shall not, except with the prior written consent of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, enter into any settlement or compromise or consent to any judgment that (i) is not entirely indemnifiable by the Indemnifying Party pursuant to this Article VIII, (ii) does not include as applicable, for purposes an unconditional term thereof the giving by the Person or Persons asserting such Third‑Party Claim to all Indemnified Parties of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement an unconditional release from all Liability with respect to such Third‑Party Claim, (iii) includes any statement as to or an admission of fact, culpability or a failure to act, by or on behalf of the Indemnified Party, or (iv) involves any injunctive relief against the Indemnified Party that would be reasonably expected to materially and adversely affect the Indemnified Party. (e) The Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all reasonable respects in connection with the defense of any Third‑Party Claim, including making available records relating to such Third‑Party Claim and furnishing, without expense to the Indemnifying Party and/or its counsel, such employees of the Indemnified Party as may be reasonably necessary for the preparation of the defense of any such Third‑Party Claim or for testimony as witnesses in any proceeding relating to such Third‑Party Claim. (f) The procedures in this Section 8.7 shall not apply to direct claims of the Seller Indemnitees or the matters alleged therein and agree that process may Purchaser Indemnitees, which shall be served on a Party with respect to such a claim anywhere in the worldgoverned by Section 8.6.

Appears in 2 contracts

Sources: Asset Purchase Agreement, Asset Purchase Agreement (Iconix Brand Group, Inc.)

Third Party Claims. (a1) In If any third party shall notify either party (the event that “Indemnified Party”) with respect to any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder matter (a “Third Party Claim”)) which may give rise to a claim, for indemnification against the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder other party (the “Indemnifying Party”) under this Lease, then the Indemnified Party shall promptly (and in any event within ten business days’ after receiving notice of the Third Party Claim) notify the Indemnifying Party thereof in writing; provided, however, that failure to give such notification shall not affect the indemnification provided hereunder except to the extent the Indemnifying Party shall have been actually and materially prejudiced as a result of such failure. (2) The Indemnifying Party will have the right at any time to assume and thereafter conduct the defense of the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party; provided, however, that the Indemnifying Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the Indemnified Party (not to be withheld or delayed unreasonably) unless the judgment or proposed settlement releases the Indemnified Party completely in connection with such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of would not otherwise adversely affect the Indemnified Party to give such prompt notice shall not relieve Party. Notwithstanding the Indemnifying Parties of their obligations under this Article Xforegoing, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject shall not be entitled to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended (and shall be liable for the reasonable fees and expenses of counsel incurred by the Indemnified Party in defending such Third Party Claim) if the Third Party Claim seeks an order, injunction or other equitable relief or relief for other than money damages against the Indemnified Party that the indemnified Party reasonably determines, after conferring with its outside , counsel, cannot be separated from any related claim for money damages. If such equitable relief or other relief portion of the Third Party Claim can be so separated from that for money damages, the Indemnifying PartiesParty shall be entitled to assume the defense of the portion relating to money damages. (c3) The Unless and until the Indemnifying Parties shall be authorized to Party assumes the defense of the Third Party Claim as provided above, however, the Indemnified Party may defend against the Third Party Claim in any manner it reasonably may deem appropriate. Notwithstanding the above, the Indemnified Party will not consent to a settlement of, or the entry of any judgment arising from, or enter into any settlement with respect to the Third Party Claim, Claim without the prior written consent of any Indemnified Party; but only if the Indemnifying Parties shall Party (i) pay or cause not to be paid all amounts arising out of such settlement withheld or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claimdelayed unreasonably. (d4) Each The party defending a Third Party Claim shall conduct the defense actively and diligently, and all parties shall cooperate in the defense of such claim. Such cooperation shall include the Parties hereby consents provision and access to the nonexclusive jurisdiction defending party of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Partydocuments, as applicableinformation, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect books and records reasonably requested by the defending party and material to such proceeding or the matters alleged therein claim, and agree that process making available employees as may be served on a Party reasonably requested by the party defending such claim and as shall be reasonably required In connection with respect to the defense of such a claim anywhere in the worldand litigation resulting there from.

Appears in 2 contracts

Sources: Lease Agreement (ExOne Co), Lease Agreement (Ex One Company, LLC)

Third Party Claims. (a) In the event that If any Person desires to make Claim is a third-party claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Third-Party Claim”), the Person or Persons entitled following provisions shall apply: (i) The Responding Party will have the right to indemnification hereunder (assume the “Indemnified Party”) shall promptly notify defense of the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Third-Party Claim and the claim of indemnification with respect thereto, provided that failure counsel of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except Responding Party’s choice reasonably satisfactory to the extentClaiming Party at any time within thirty (30) days after the Claiming Party has given notice of the Third-Party Claim (or within a shorter period, if at allany, during which a defense must be commenced for the preservation of rights); provided, however, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt Responding Party must continuously conduct the defense of notice from the Indemnified Third-Party pursuant Claim actively and diligently thereafter in order to Section 10.5(a) preserve its rights in this regard and provided must keep the Claiming Party reasonably informed of the status of the Third-Party Claim; and, provided, further, that the Indemnifying Claiming Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense may retain separate co-counsel at its sole cost and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to expense and participate in the defense of the Third-Party Claim. If the Responding Party fails to give such Third Party Claim with its own counsel and at its own expense; providedwritten notice within such 30-day period (or such shorter period, that if an Indemnifying Party is also subject to any, during which a defense must be commenced for the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Partypreservation of rights), then the Indemnifying Parties shall be liable under this Article X for Responding Party will no longer have the fees of the Indemnified Party’s counsel and any other expenses related right to assume the defense of such Third Third-Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with If the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Responding Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in assumes the defense of any Third such Third-Party Claim defended by Claim, then the Indemnifying PartiesPersons on whose behalf such Person is responding will be obligated to indemnify the Claiming Party or Claiming Parties with respect to such Third-Party Claim. (cii) The Indemnifying Parties shall be authorized to So long as the Responding Party has assumed and continues conducting the defense of the Third-Party Claim in accordance with Section 10.2(c)(i) above, (A) the Responding Party will not consent to a settlement of, or the entry of any judgment arising from, or enter into any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or respect to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified without the prior written consent of the Claiming Party (not to be withheld unreasonably) unless the judgment or Dynamic Indemnified proposed settlement involves only the payment of money damages by the Responding Party, does not impose an injunction or other equitable relief upon the Claiming Party, and includes, as applicablean unconditional term thereof, for purposes the giving by the claimant or plaintiff to the Claiming Party of a release (in form and substance reasonably satisfactory to the Claiming Party) from all Liability in respect of such Third-Party Claim, and (B) the Claiming Party will not consent to the entry of any claim that a Superior Indemnified Party judgment or Dynamic Indemnified Party, as applicable, may have under this Agreement enter into any settlement with respect to such proceeding the Third-Party Claim without the prior written consent of the Responding Party (not to be withheld unreasonably). (iii) In the event the Responding Party does not assume and continuously conduct the defense of the Third-Party Claim in accordance with Section 10.2(c)(i) above, (A) the Claiming Party may defend against, and consent to the entry of any reasonable judgment or the matters alleged therein and agree that process may be served on a Party enter into any reasonable settlement with respect to such a claim anywhere to, the Third-Party Claim in any manner the Claiming Party reasonably may deem appropriate (and the Claiming Party need not consult with, or obtain any consent from, the Responding Party in connection therewith) and (B) the Responding Party will remain responsible for any Damages the Claiming Party may suffer resulting from, arising out of, relating to, in the world.nature of, or caused by the Third-Party Claim to the fullest extent provided in this Article X.

Appears in 2 contracts

Sources: Merger Agreement (M/a-Com Technology Solutions Holdings, Inc.), Merger Agreement (M/a-Com Technology Solutions Holdings, Inc.)

Third Party Claims. (ai) In If any party (the event that “Indemnified Party”) receives written notice (or otherwise becomes aware) of the commencement of any Person desires Proceeding or the assertion of any claim by a third party or the imposition of any penalty or assessment (in each case other than any claims, penalties, assessments or other proceedings with respect to make a claim under Sections 10.2 or 10.3 in connection with any actionTaxes, suit, proceeding, or demand at any time instituted against or made upon any Person which for the avoidance of doubt shall be governed by Section 10.04) for which such Person indemnity may seek indemnification hereunder be sought under Section 9.01 or Section 9.02 (a “Third Party Claim”), and such Indemnified Party intends to seek indemnity pursuant to this Article IX, the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) Party shall promptly notify (but no later than fifteen (15) calendar days of the earlier of receiving such written notice or becoming aware of such Third Party or Parties required to Claim) provide indemnification hereunder the other party (the “Indemnifying Party”) with written notice of such Third Party Claim, stating the nature, basis, the amount thereof (to the extent known or of a nature that can reasonably be estimated, which amount shall not be conclusive of the final amount of such Third Party Claim), the method of computation thereof (to the extent known or of a nature that can reasonably be estimated), any other remedy sought thereunder, any relevant time constraints relating thereto, and, to the extent practicable, any other material details pertaining thereto, along with copies of the relevant documents evidencing such Third Party Claim and the claim of basis for indemnification with respect thereto, provided that failure sought. Failure of the Indemnified Party to give such prompt notice shall will not relieve the Indemnifying Parties of their Party from its indemnification obligations under this Article Xhereunder, except to the extent, if at all, extent that the Indemnifying Parties shall have been Party is prejudiced thereby. (bii) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the The Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity be entitled to participate in the defense of such Third Party Claim with its own counsel and and, if it so chooses, to assume the defense thereof at its own expense; provided, expense (provided that if an the amount of such expense shall be a liability of the Indemnifying Party is also hereunder subject to the Third limitations set forth in Section 9.05) with counsel selected by the Indemnifying Party Claim and counsel reasonably satisfactory to the Indemnified Party if it gives notice to the Indemnified Party within twenty (20) calendar days (or such lesser number of days set forth in the notice as may be required by the relevant Proceeding applicable to such Third Party Claim) from receipt of any such notice of a Third Party Claim; provided that, the Indemnifying Party shall not be entitled to assume or maintain the control of the defense of any Third Party Claim (A) if such Third Party Claim relates to or arises in connection with any criminal proceeding action, indictment, allegation or investigation or any regulatory matter brought by a Governmental Entity, (B) the plaintiff seeks an injunction or other equitable relief against the Indemnified Party, (C) any insurance carrier for the Indemnified Party requires as a condition to the Indemnified Party’s eligibility to recover insurance proceeds on account of such Third Party Claim that such carrier control the defense of such Third Party Claim, or (D) the Indemnified Party shall have reasonably determines in writing concluded, based on the advice of counsel, that a there is an actual or likely conflict or potential conflict exists of interest between the Indemnifying Party and the Indemnified Party, then Party with respect to such Third Party Claim. (iii) If the Indemnifying Parties Party (A) does not (or is not entitled to) assume such defense, or (B) after assuming such defense, fails to take reasonable steps necessary to defend diligently such Third Party Claim within twenty (20) calendar days after receiving written notice from the Indemnified Party of the failure of the Indemnifying Party to take such reasonable steps and describing in reasonable detail such failure, the Indemnified Party shall be liable under this Article X for have the fees right to assume its own defense; provided that, any acts or omissions by the Indemnifying Party in the exercise of its reasonable judgment in defending against such Third Party Claim shall not constitute such a failure; it being understood that the Indemnified Party’s counsel and any other expenses related right to indemnification for a Third Party Claim shall not be adversely affected by assuming the defense of such Third Party Claim. The If the Indemnified Party assumes its own defense of a Third Party Claim, the Indemnified Party shall not settle, compromise, or consent to the entry of any judgment, in respect of, such Third Party Claim without the consent of the Indemnifying Parties Party, which shall select counselnot be unreasonably withheld, contractors conditioned or delayed. (iv) If the Indemnifying Party has assumed the defense, appeal or settlement proceedings of the Third Party Claim in accordance herewith, (w) the Indemnified Party may retain separate co-counsel at its sole cost and consultants expense and participate in (but not control) the defense, appeal or settlement proceedings of recognized standing and competence after consultation with the Third Party Claim (provided that, in the event the Indemnified Party; , with the advice of counsel, reasonably determines that there is a conflict of interests that makes it inappropriate for a single counsel to represent all parties under applicable standards of legal ethics, the Indemnified Party shall take all steps necessary be entitled to indemnification for legal expenses (subject to the other limitations set forth herein) reasonably incurred in respect of its own counsel), (x) the Indemnified Party will not admit any liability, file any papers or consent to the entry of any judgment or enter into any settlement agreement, compromise or discharge with respect to the Third Party Claim without the prior written consent of the Indemnifying Party, which shall not be unreasonably withheld, conditioned or delayed (and such consent shall not be considered “unreasonably withheld” if (A) such settlement contains any admission of liability or wrongdoing by the Indemnifying Party and (B) such settlement imposes any sanctions, restrictions or obligations on the Indemnifying Party), (y) the Indemnifying Party will not admit to any wrongdoing by the Indemnified Party, and (z) the Indemnifying Party agrees to keep the Indemnified Party reasonably informed regarding the defense or settlement of such Third Party Claim and to consider in good faith any suggestions made by the Indemnified Party regarding the defense or settlement of such Third Party Claim; and . (v) The Indemnifying Party shall at all times diligently and promptly pursue not have the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of right to settle any Third Party Claim defended except if such settlement is consented to by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to Indemnified Party in writing, such consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause not to be paid all amounts arising out of unreasonably withheld, conditioned or delayed (and such consent shall not be considered “unreasonably withheld” if (A) such settlement contains any admission of liability or judgment concurrently with wrongdoing by the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable(B) such settlement imposes any sanctions, for purposes of any claim that a Superior Indemnified Party restrictions or Dynamic obligations on the Indemnified Party, as applicableexcept for monetary damages for which the Indemnifying Party is solely responsible, may have under this Agreement with respect to or (C) such proceeding or settlement does not contain a full release of the matters alleged therein and agree that process may be served on a Indemnified Party with respect to such Third Party Claim). The parties will act in good faith in responding to, defending against, settling or otherwise dealing with Third Party Claims. Whether or not the Indemnifying Party has assumed the defense with respect to a claim anywhere Third Party Claim, such Indemnifying Party will not be obligated to indemnify the Indemnified Party hereunder for any settlement entered into or any judgment that was consented to without the Indemnifying Party’s prior written consent (such consent not to be unreasonably withheld, conditioned or delayed). (vi) The parties will also cooperate in the worldany such defense, appeal or settlement proceedings, give each other reasonable access to all business records, employees and other documents and information relevant thereto and use reasonable best efforts to avoid production of confidential information (consistent with applicable Law) and to cause all communications among employees, counsel and others representing any party to a Third Party Claim to be made so as to preserve any applicable attorney-client or work-product privileges.

Appears in 2 contracts

Sources: Stock and Asset Purchase Agreement (LivaNova PLC), Stock and Asset Purchase Agreement (LivaNova PLC)

Third Party Claims. (a) In the event that any If a Proceeding by a Person desires to make who is not a claim under Sections 10.2 party hereto or 10.3 an Affiliate thereof (other than in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder a Tax Claim) (a “Third Third-Party Claim”)) is made, the commenced or threatened in writing against any Person or Persons entitled to indemnification hereunder pursuant to Section 9.2 (the an “Indemnified Party”) ), and if such Person intends to seek indemnity with respect thereto under this Article 9, such Indemnified Party shall promptly notify give a Notice of Claim to the party obligated to indemnify such Indemnified Party or Parties required to provide indemnification hereunder (such notified party, the “Indemnifying Responsible Party”) of such Third Party Claim and the claim of indemnification with respect thereto, ); provided that the failure of the Indemnified Party to give such prompt notice Notice of Claim shall not relieve the Indemnifying Parties Responsible Party of their its obligations under this Article Xhereunder, except to the extent, if at all, extent that the Indemnifying Parties shall have been Responsible Party is actually prejudiced thereby. (b) Upon The Responsible Party shall have thirty (30) days after receipt of such notice, by providing written notice from to the Indemnified Party, to assume the conduct and control, through counsel reasonably acceptable to the Indemnified Party pursuant to Section 10.5(aand at the expense of the Responsible Party, of the settlement or defense thereof, if (i) the Responsible Party conducts the defense of such Third-Party Claim actively and provided that diligently, (ii) the Indemnifying Responsible Party confirms acknowledges in writing its obligation to indemnity the Indemnified Party for the Losses in respect of such Third-Party Claim, (iii) such Third-Party Claim seeks solely monetary damages, the amount of which will be paid by the Responsible Party, and does not involve criminal or quasi-criminal allegations, (iv) to the extent the Responsible Party is a party to the Proceeding, the Indemnified Party has not determined in good faith that joint representation would be inappropriate because of a conflict of interest and (v) the subject matter amount of Losses in respect of such Third-Party Claim, assuming such Losses are ultimately awarded to the Indemnified Party, would not exceed the limitations on Sellers’ obligations set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, 9. If the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume Responsible Party assumes the defense and control of any such Third Third-Party Claim, but shall allow the Indemnified Party shall, in its sole discretion, have the right to employ at the Indemnified Party’s cost (unless the Indemnified Party determines in good faith that there exists a reasonable opportunity conflict of interest that would make it inappropriate for the same counsel to represent both the Indemnified Party and the Responsible Party, then the Indemnified Party shall be entitled to retain a single firm to serve as its own counsel, at the expense of the Responsible Party) separate counsel (who may be selected by the Indemnified Party in its sole discretion) in any such action and to participate in the defense thereof, provided, that the Indemnified Party may not file any papers or consent to the entry of any judgment or enter into any settlement with respect to such Third Third-Party Claim with its own counsel without the prior written consent of the Responsible Party. The Responsible Party, and at its own expensenot the Indemnified Party, shall have the exclusive right to compromise or settle any Third-Party Claim of which it elects to conduct the defense and settlement; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to prior written consent of the Indemnified Party reasonably determines in writing that a conflict shall be required with respect to any such compromise or potential conflict exists between the Indemnifying Party and settlement if (A) the Indemnified PartyParty or any of its Affiliates or representatives would be required to pay any monetary damages as a result of such compromise or settlement, (B) such compromise or settlement contains any sanction or restriction that would adversely affect the conduct of any business of the Indemnified Party or its Affiliates in any material respect, (C) such compromise or settlement does not fully and unconditionally release the Indemnified Party with respect to such Third-Party Claim or (D) such compromise or settlement includes a finding or admission of any violation of Law by the Indemnified Party or any of its Affiliates or representatives. So long as the Responsible Party is reasonably contesting any such claim in good faith, the Indemnified Party shall not pay or settle any such claim. If the Responsible Party elects to conduct the defense and settlement of a Third-Party Claim, then the Indemnifying Parties Indemnified Party shall be liable under this Article X have the right to pay or settle such Third-Party Claim; provided that in such event it shall waive any right to indemnity by the Responsible Party for all Losses related to such claim unless the fees Responsible Party shall have consented to such payment or settlement. (c) If the Responsible Party does not notify the Indemnified Party within thirty (30) days after the receipt of the Indemnified Party’s counsel and any other expenses related Notice of Claim hereunder that it elects to undertake the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement ofthereof, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall conditions set forth in clauses (i) pay through (v) of Section 9.3(b) are not satisfied, the Indemnified Party shall have the right to contest, settle or cause compromise the claim but shall not thereby waive any right to be paid all indemnity therefor pursuant to this Agreement; provided, that the Responsible Party shall reimburse the Indemnified Party for the costs of defending against such Third-Party Claim (including reasonable attorneys’ fees and expenses of a single firm) and shall remain otherwise responsible for any indemnifiable Losses with respect to amounts arising out of from or related to such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Third-Party Claim. (d) Each All of the Parties hereby consents to shall cooperate in the nonexclusive jurisdiction defense or prosecution of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Partyin respect of which indemnity may be sought hereunder, and Purchaser shall (and shall cause the Company to) furnish such records, information and testimony, and attend such conferences, discovery proceedings, hearings, trials and appeals, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere reasonably requested in the worldconnection therewith.

Appears in 2 contracts

Sources: Stock Purchase Agreement (Better Choice Co Inc.), Stock Purchase Agreement (Better Choice Co Inc.)

Third Party Claims. (a) In the event that any Person desires to make If a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder by a Third Party (a “Third Third-Party Claim”), the Person or Persons entitled to indemnification hereunder (the “) is made against any Indemnified Party”) , and if such party intends to seek indemnity with respect thereto under this Section 8.7, such Indemnified Party shall promptly notify the Indemnifying Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Third-Party Claim and by delivery of a Claim Certificate; provided, that the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice so notify shall not relieve the Indemnifying Parties Party of their its obligations under this Article Xhereunder, except to the extentextent that the Claim Certificate is not delivered to the Indemnifying Party within the relevant survival period set forth in Section 8.1 or the Indemnifying Party is actually and materially prejudiced thereby. The Indemnifying Party shall have thirty (30) days after receipt of such notice to assume the conduct and control, if at allthe expense of the Indemnifying Party, through counsel of its choosing, of the settlement or defense of such Third-Party Claim and the Indemnified Party shall cooperate with it in connection therewith; provided, that the Indemnifying Parties Party shall not be entitled to assume the control of such defense and shall pay the fees and expenses of counsel retained by the Indemnified Party if such Third Party Claim would reasonably be expected to give rise to Losses which are more than twice the amount indemnifiable by such Indemnified Party. Notwithstanding any other provision of this Agreement, (i) Seller shall have been prejudiced therebythe right to control any Third-Party Claim which relates solely to Taxes (x) attributable to the Purchased Assets or the Terminal Operations with respect to any Pre-Closing Period or (y) imposed on Seller and (ii) Purchaser shall not consent to any settlement or compromise of any Third-Party Claim that (x) adversely affects or may adversely affect the Tax Liability of Seller or any of its Affiliates for any Pre-Closing Period or (y) would require payment by Seller of any amount under Section 8.2, in each case without the written consent of Seller. (b) Upon receipt of notice from the Any Indemnified Party pursuant shall have the right to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth employ separate counsel in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Third-Party Claim, but the fees and expenses of such counsel shall allow not be at the Indemnified expense of the Indemnifying Party a reasonable opportunity unless (i) the Indemnifying Party is not entitled to participate in assume the defense of such Third Party Claim in accordance with its own Section 8.7(a) or the Indemnifying Party shall have failed to assume the defense of such Third-Party Claim as set forth in Section 8.7(c), (ii) the employment of such counsel has been specifically authorized in writing by the Indemnifying Party or (iii) the named parties to any such action (including any impleaded parties) include both such Indemnified Party and at its own expensethe Indemnifying Party and such Indemnified Party shall have been advised in writing by such counsel that there is a conflict of interest between the Indemnified Party and the Indemnifying Party. The Indemnified Party shall not pay or settle any such Third-Party Claim. Notwithstanding the foregoing, the Indemnified Party shall have the right to pay or settle any such Third-Party Claim only as to itself; provided, that if an in such event it shall waive any right to indemnity therefor by the Indemnifying Party is also subject to the Third for such Third-Party Claim and counsel unless the Indemnifying Party shall have consented to such payment or settlement. (c) If the Indemnifying Party does not notify the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between within thirty (30) days after the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees receipt of the Indemnified Party’s counsel and any other expenses related Claim Certificate seeking indemnification with respect to a Third-Party Claim that it elects to undertake the defense of such Third Party Claim. The Indemnifying Parties shall select counselthereof, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; Party shall take all steps necessary in have the defense right to contest, settle or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue compromise the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Third-Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties but shall be authorized not thereby waive any right to consent indemnity therefor pursuant to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claimthis Agreement. (d) Each The Indemnifying Party shall not, except with the consent of the Parties hereby consents Indemnified Party, enter into any settlement that is not entirely indemnifiable by the Indemnifying Party pursuant to this Article VIII and does not include as an unconditional term thereof the nonexclusive jurisdiction of any court in which a proceeding in respect of a giving by the Person or Persons asserting such Third-Party Claim is brought against any Superior to all Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes Parties of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement an unconditional release from all Liability with respect to such proceeding Third-Party Claim or consent to entry of any judgment. (e) The Indemnified Party shall cooperate with the matters alleged therein Indemnifying Party and agree that process its counsel in all reasonable respects in connection with the defense of any Third-Party Claim, including making available records relating to such Third-Party Claim and furnishing, without expense to the Indemnifying Party and/or its counsel, such employees of the Indemnified Party as may be served on a reasonably necessary for the preparation of the defense of any such Third-Party with respect Claim or for testimony as witnesses in any proceeding relating to such a claim anywhere in the worldThird-Party Claim.

Appears in 2 contracts

Sources: Purchase and Sale Agreement (Buckeye Partners, L.P.), Purchase and Sale Agreement

Third Party Claims. (a) In the event that case any Person desires to make Claim is brought by a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person third ------------------ party for which such Person may seek Claim indemnification hereunder is provided hereunder: (a “Third i) the indemnified Party Claim”), the Person or Persons entitled shall provide prompt written notice thereof to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required obligated to provide indemnification hereunder indemnify such Claim; and (ii) the “Indemnifying Party”) of such Third indemnifying Party Claim shall, upon the demand and at the claim of indemnification with respect thereto, provided that failure option of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c)indemnified Party, assume the defense thereof (at the expense of the indemnifying Party) within thirty (30) days or at least ten (10) days prior to the time a response is due in such case, whichever occurs first, or, alternatively upon the demand and control at the option of the indemnified Party, pay to such Third Party Claimall reasonable costs and expenses, but including reasonable attorneys' fees, incurred by such Party in defending itself. The Parties shall allow the Indemnified Party a reasonable opportunity to participate cooperate reasonably with each other in the defense of such Third Party Claim with its own counsel any Claim, including making available (under seal if desired, and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party allowed) all records reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related necessary to the defense of such Third Claim, and the indemnified Party shall have the right to join and participate actively in the indemnifying Party's defense of the Claim. The Indemnifying Parties Notwithstanding the foregoing (and any other section of this Agreement), it is understood and acknowledged that InterTrust need not under any circumstance provide Top Secret Information related to the security capabilities of InterTrust Technology to any Person. Each Party shall select counselbe entitled to reasonable approval of the settlement of any Claim to be entered into by the other Party. Without limiting the foregoing, contractors if as a result of such defense or settlement, an injunction is entered or threatened or an agreement is reached prohibiting MBC from using any portion of the InterTrust Technology, as MBC's sole remedy for such prohibition of such continued use, InterTrust may at InterTrust's sole option either: (a) [*] for MBC to [*] and consultants of recognized standing and competence after consultation [*] in accordance with the Indemnified Partyterms hereof such portion (at MBC's expense, should MBC desire to so continue to [*] such portion); shall take all steps necessary (b) [*] or [*] of the [*] or Licensed Rights, as the case may be, so as to make it [*]; or (3) if options (a) and (b) are not [*] in InterTrust's determination, terminate the defense licenses granted hereunder as to such portion. In addition, as to any such portion, InterTrust may, at any time after such Claim is brought or settlement threatened, notify MBC that InterTrust is electing one of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shalloptions (a), and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (b) or (c) The Indemnifying Parties shall be authorized as to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause such portion to be paid all amounts arising out of effective immediately or at such settlement or judgment concurrently with the effectiveness of such settlement; time specified by InterTrust subject in (iia) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party ClaimMBC's agreement. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 2 contracts

Sources: Technology Development and License Agreement (Intertrust Technologies Corp), Technology Development and License Agreement (Intertrust Technologies Corp)

Third Party Claims. If any party (athe “Indemnified Party”) In receives written notice of the event that commencement of any Person desires Proceeding or the assertion of any claim by a third party or the imposition of any penalty or assessment (in each case other than with respect to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person Taxes) for which such Person indemnity may seek indemnification hereunder be sought under Section 9.01 or Section 9.02 (a “Third Party Claim”), and such Indemnified Party intends to seek indemnity pursuant to this Article IX, the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) Party shall promptly notify (but no later than 30 days after receiving such notice) provide the Party or Parties required to provide indemnification hereunder other party (the “Indemnifying Party”) with written notice of such Third Party Claim, stating the nature, basis, the amount thereof (to the extent known or estimated, which amount shall not be conclusive of the final amount of such Third Party Claim), the method of computation thereof (to the extent known or estimated), any other remedy sought thereunder, any relevant time constraints relating thereto, and, to the extent practicable, any other material details pertaining thereto, along with copies of the relevant documents evidencing such Third Party Claim and the claim of basis for indemnification with respect thereto, provided that failure sought. Failure of the Indemnified Party to give such prompt notice shall will not relieve the Indemnifying Parties of their Party from its indemnification obligations under this Article Xhereunder, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided extent that the Indemnifying Party confirms in writing that is actually prejudiced thereby. The Indemnifying Party will have 45 days from receipt of any such notice of a Third Party Claim to give notice to the subject matter set forth in Indemnified Party whether it is assuming and controlling the notice is subject to indemnification by defense, appeal or settlement proceedings thereof with counsel of the Indemnifying Party’s choice. So long as the Indemnifying Party under has assumed the applicable provisions defense, appeal or settlement proceedings of this Article Xthe Third Party Claim in accordance herewith, (i) the Indemnifying Parties willIndemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense, subject to appeal or settlement proceedings of the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow (ii) the Indemnified Party a reasonable opportunity will not admit any liability, file any papers or consent to participate in the defense entry of such Third Party Claim any judgment or enter into any settlement agreement, compromise or discharge with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject respect to the Third Party Claim and counsel to without the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between prior written consent of the Indemnifying Party and (iii) the Indemnifying Party will not admit to any wrongdoing by the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties Party shall select counsel, contractors and consultants of recognized standing and competence after consultation with have the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of right to settle any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to for which it obtains a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any full release of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such Third Party Claim or to which settlement the Indemnified Party consents in writing (such consent not to be unreasonably withheld, conditioned or delayed). As to any Third Party Claim with respect to which the Indemnifying Party does not elect to assume control of the defense, the Indemnified Party will afford the Indemnifying Party an opportunity to participate in such defense, at its cost and expense, and will consult with the Indemnifying Party prior to settling or otherwise disposing of any of the same. The parties will act in good faith in responding to, defending against, settling or otherwise dealing with Third Party Claims. The parties will also cooperate in any such defense, appeal or settlement proceedings, and give each other reasonable access to all information relevant thereto. Whether or not the Indemnifying Party has assumed the defense, appeal or settlement proceedings with respect to a claim anywhere in Third Party Claim, such Indemnifying Party will not be obligated to indemnify the worldIndemnified Party hereunder for any settlement entered into or any judgment that was consented to by the Indemnified Party without the Indemnifying Party’s prior written consent (such consent not to be unreasonably withheld, conditioned or delayed).

Appears in 2 contracts

Sources: Business Combination Agreement (Osmotica Pharmaceuticals PLC), Business Combination Agreement (Osmotica Pharmaceuticals LTD)

Third Party Claims. (a) In Promptly after the event that receipt by any Person desires entitled to make indemnification pursuant to this Article XII (the “Indemnified Party”) of notice of the commencement of any Action involving a claim under Sections 10.2 or 10.3 in connection with any actionthird party (such Action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”), the Person such Indemnified Party shall, if a claim with respect thereto is to be made against any party or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required parties obligated to provide indemnification hereunder pursuant to this Article XII (the “Indemnifying Party”) ), give such Indemnifying Party written notice of such Third Party Claim and in reasonable detail in light of the claim of indemnification with respect thereto, circumstances then known to such Indemnified Party; provided that the failure of the Indemnified Party to give provide such prompt notice shall not relieve the Indemnifying Parties Party of their its obligations under this Article Xhereunder, except to the extent, if at all, extent that such failure to give notice shall prejudice any defense or claim available to the Indemnifying Parties shall have been prejudiced therebyParty. (b) Upon receipt The Indemnifying Party shall be entitled to assume the defense of notice from any Third Party Claim with counsel reasonably satisfactory to the Indemnified Party pursuant to Section 10.5(a) and Party, at the Indemnifying Party’s sole expense; provided that the Indemnifying Party confirms shall not be entitled to assume or continue control of the defense of any Third Party Claim if (i) the Third Party Claim relates to or arises in writing connection with any criminal Action, (ii) the Third Party Claim seeks an injunction or equitable relief against any Indemnified Party, (iii) the Third Party Claim has or would reasonably be expected to result in Losses in excess of the amounts available for indemnification pursuant to Section 12.5, (iv) the Third Party Claim would reasonably be expected to have a material adverse effect on the Indemnified Party’s business or relates to its clients, vendors or other service providers, (v) the Indemnifying Party has failed or is failing to defend in good faith the Third Party Claim, or (vi) the Indemnifying Party has not acknowledged that the subject matter set forth in the notice such Third Party Claim is subject to indemnification by pursuant to this Article XII. (c) If the Indemnifying Party under assumes the applicable provisions defense of this Article Xany Third Party Claim, (i) it shall not settle the Indemnifying Parties willThird Party Claim unless (A) the settlement does not entail any admission of liability on the part of any Indemnified Party, subject and (B) the settlement includes an unconditional release of each Buyer Indemnified Party or Seller Indemnified Party, as applicable, reasonably satisfactory to the provisions of Section 10.5(c)Indemnified Party, assume the defense and control of from all Losses with respect to such Third Party Claim, but (ii) it shall allow indemnify and hold the Indemnified Party a reasonable opportunity harmless from and against any and all Losses caused by or arising out of any settlement or judgment of such claim and may not claim that it does not have an indemnification obligation with respect thereto, and (iii) the Indemnified Party shall have the right (but not the obligation) to participate in the defense of such Third Party Claim with its own counsel and to employ, at its own expense, counsel separate from counsel employed by the Indemnifying Party; providedprovided that the fees, that if an costs and expenses of such counsel shall be at the expense of the Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between if the Indemnifying Party and the Indemnified Party, then Party are both named parties to the Indemnifying Parties shall be liable under this Article X for the fees of proceedings and the Indemnified Party’s counsel and any other expenses related to the defense Party shall have reasonably concluded that representation of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended both parties by the Indemnifying Parties. (c) The Indemnifying Parties shall same counsel would be authorized inappropriate due to consent to a settlement of, actual or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claimpotential differing interests between them. (d) The Indemnified Party shall not settle any Third Party Claim if the Indemnifying Party shall have any obligation as a result of such settlement (whether monetary or otherwise) unless such settlement is consented to in writing by the Indemnifying Party, such consent not to be unreasonably withheld or delayed. (e) Each party shall cooperate, and cause their respective Affiliates to cooperate, in the defense or prosecution of any Third Party Claim. Any consent to be given by the Buyer Indemnified Parties under this Section 12.7 shall be given by the Buyer acting on behalf of the Buyer Indemnified Parties hereby consents and any consent to be given by the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Seller Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have Parties under this Agreement with respect to such proceeding or Section 12.7 shall be given by the matters alleged therein and agree that process may be served Representative acting on a Party with respect to such a claim anywhere in behalf of the worldSeller Indemnified Parties.

Appears in 2 contracts

Sources: Purchase and Sale Agreement, Purchase and Sale Agreement (Evercore Partners Inc.)

Third Party Claims. The obligations and liabilities of the Company Stockholders and Acquiror hereunder with respect to their respective indemnities pursuant to this Article X resulting from any Third Party Claim (as defined in Section 11.2) shall be subject to the following terms and conditions: (a) In The party seeking indemnification (the event that "Indemnified Party") must give the party from whom indemnification is sought (the "Indemnifying Party") notice of any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”)Claim which is asserted against, imposed upon or incurred by the Person Indemnified Party and which may give rise to liability of the Indemnifying Party pursuant to this Article X, stating (to the extent known or Persons entitled to indemnification hereunder (reasonably anticipated) the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) nature and basis of such Third Party Claim and the claim of indemnification with respect thereto, amount thereof; provided that the failure to give such notice shall not affect the rights of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, hereunder except to the extent, if at all, extent that the Indemnifying Parties Party shall have been prejudiced therebysuffered actual material damage by reason of such failure. (b) Upon receipt of notice from the Indemnified Party pursuant Subject to Section 10.5(a10.4(c) and provided that below, the Indemnifying Party confirms in writing that shall have the subject matter set forth in the notice is subject right to indemnification undertake, by the Indemnifying Party under the applicable provisions counsel or other representatives of this Article Xits own choosing, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel at the Indemnifying Party's risk and at its own expense; provided, . (c) In the event that if an (i) the Indemnifying Party shall elect not to undertake such defense, (ii) within a reasonable time after notice from the Indemnified Party of any such Third Party Claim, the Indemnifying Party shall fail to undertake to defend such Third Party Claim, or (iii) there is also subject to the a reasonable probability that such Third Party Claim may materially and adversely affect the Indemnified Party other than as a result of money damages or other money payments, then the Indemnified Party (upon further written notice to the Indemnifying Party) shall have the right to undertake the defense, compromise or settlement of such Third Party Claim, by counsel or other representatives of its own choosing, on behalf of and for the account and risk of the Indemnifying Party. In the event that the Indemnified Party undertakes the defense of a Third Party Claim under this Section 10.4(c), the Indemnifying Party shall pay to the Indemnified Party, in addition to the other sums required to be paid hereunder, the reasonable costs and expenses incurred by the Indemnified Party in connection with such defense, compromise or settlement as and when such costs and expenses are so incurred. (d) Anything in this Section 10.4 to the contrary notwithstanding, (i) the Indemnifying Party shall not, without the Indemnified Party's written consent, settle or compromise such Third Party Claim or consent to entry of any judgment which does not include as an unconditional term thereof the giving by the claimant or the plaintiff to the Indemnified Party of a release from all liability in respect of such Third Party Claim in form and substance reasonably determines satisfactory to the Indemnified Party; (ii) in writing the event that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to undertakes the defense of such Third Party Claim. The , the Indemnified Party, by counsel or other representative of its own choosing and at its sole cost and expense, shall have the right to participate in the defense, compromise or settlement thereof and the Indemnifying Parties Party and its counsel and other representatives shall select counsel, contractors and consultants of recognized standing and competence after consultation cooperate with the Indemnified PartyParty and its counsel and representatives in connection therewith; shall take all steps necessary and (iii) in the event that the Indemnifying Party undertakes the defense or settlement of such Third Party Claim; and , the Indemnifying Party shall at all times diligently and promptly pursue have an obligation to keep the resolution Indemnified Party informed of the status of the defense of such Third Party Claim. The Claim and furnish the Indemnified Party shallwith all documents, instruments and shall cause each of its Affiliates and representatives to, cooperate fully with information that the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claimshall reasonably request in connection therewith. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 2 contracts

Sources: Merger Agreement (Eglobe Inc), Merger Agreement (Eglobe Inc)

Third Party Claims. (a) In the event that If any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted in respect of which an Indemnified Party might seek indemnity under this Article IX is asserted against or made upon any such Indemnified Party by a Person for which such Person may seek indemnification hereunder other than a party hereto (a “Third Party Claim”), the Person or Persons entitled to indemnification hereunder Indemnified Party shall give written notice (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim Notice”) and the claim of indemnification with respect thereto, provided that failure details thereof including an estimate of the claimed Losses and copies of all relevant pleadings, documents and information to the Indemnifying Party within a period of twenty (20) days following the assertion of the Third Party Claim against the Indemnified Party; provided, that the failure to so notify the Indemnifying Party to give such prompt notice shall not relieve the Indemnifying Parties Party of their its obligations under this Article X, hereunder except to the extent, if at all, that the Indemnifying Parties extent such failure shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms or shall have resulted in writing that the subject matter expiration of the relevant time period set forth in Section 9.5. Within thirty (30) days after its receipt of the notice is subject to indemnification by Third Party Claim Notice (the “Third Party Claim Response Period”), the Indemnifying Party under shall give notice to the applicable provisions Indemnified Party, in writing, of this Article X, whether the Indemnifying Parties will, subject Party elects to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expenseunder this Article IX; provided, provided that if an the Indemnifying Party is also subject shall not have the right to assume the defense of such Third Party Claim if (i) such Third Party Claim seeks, as its primary recourse (which may be in addition to or in lieu of monetary damages), an injunction or other equitable relief; (ii) such Third Party Claim exceeds the cap applicable to such indemnity item, after taking into account all previous payments made to Purchaser or a Seller, as applicable, pursuant to this Article IX, by an amount that results in the Indemnifying Party’s maximum potential indemnification obligation hereunder with respect to such Third Party Claim being less than fifty percent (50%) of the amount of such Third Party Claim; (iii) such Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation; or (iv) a conflict on any significant issue exists between the Indemnified Party and the Indemnifying Party in respect of the Third Party Claim and counsel to such that joint representation is precluded under applicable standards of professional conduct. If the Indemnifying Party notifies the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related it elects to assume the defense of such Third Party Claim, then such defense will be conducted by the Indemnifying Party by all appropriate proceedings and shall be diligently prosecuted to a final conclusion or will be settled, at the discretion of the Indemnifying Party; provided, that unless consented to in advance by the Indemnified Party (which consent shall not be unreasonably withheld), the Indemnifying Party shall not enter into any settlement that requires a non-monetary commitment by the Indemnified Party or includes a payment by the Indemnified Party that will not be indemnified by the Indemnifying Party. The Indemnified Party will cooperate fully in such defense, including making available to the Indemnifying Parties shall select counselParty all books, contractors records and consultants of recognized standing and competence after consultation with documents within the Indemnified Party; shall take all steps necessary in ’s control or that it can reasonably obtain relating to the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shallParty, and shall cause each of at its Affiliates and representatives toexpense, cooperate fully with the Indemnifying Parties in may participate in, but not control, the defense of any Third Party Claim defended assumed by the Indemnifying Parties. Party pursuant to this Section 9.4(a). If the Indemnifying Party, within the Third Party Claim Response Period (cor sooner if the nature of the Third Party Claim so requires), elects not to defend such Third Party Claim or fails to defend such Third Party Claim actively and in good faith, then the Indemnified Party shall (after giving written notice of the same to the Indemnifying Party) The have the right to undertake the defense (at the Indemnifying Parties shall be authorized to consent to a settlement ofParty’s expense), compromise or the entry of any judgment arising from, any settle such Third Party Claim, or consent to the entry of a judgment with respect thereto; provided, that the Indemnifying Party shall have no obligation to indemnify the Indemnified Party for any such compromise or settlement thereof or consent to the entry of a judgment with respect thereto without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and consent (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claimwhich consent shall not be unreasonably withheld). (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 2 contracts

Sources: Stock and Membership Interest Purchase Agreement, Stock and Membership Interest Purchase Agreement (Cott Corp /Cn/)

Third Party Claims. Promptly after receipt by a SELLER Indemnified Party or a PURCHASER Indemnified Party (aan “Indemnified Party”) In of notice of any matter or the event that commencement of any Person desires action or claim by a third party in respect of which the Indemnified Party intends to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Third-Party Claim”), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) Party shall promptly notify the Party or Parties required that may be obligated to provide such indemnification hereunder under this Section 14 (the an “Indemnifying Party”) of such Third claim thereof in writing, provided that any failure to so notify the Indemnifying Party shall not relieve it from any liability other than to the extent the Indemnifying Party is actually prejudiced by such failure. Within 15 days of receiving the above notice, effective upon written notice to the Indemnified Party, the Indemnifying Party must (i) assume the defense of such Third-Party Claim, (ii) confirm in writing its responsibility for all defense costs and expenses, liabilities and obligations arising from such Third-Party Claim and (iii) demonstrate to the claim of indemnification with respect thereto, provided that failure reasonable satisfaction of the Indemnified Party its financial capability to give undertake the defense and provide indemnification with respect to such prompt notice shall not relieve the Indemnifying Parties Third-Party Claim and its selection of their obligations under this Article Xcounsel reasonably satisfactory to such Indemnified Party; provided, except to the extenthowever, if at all, that the Indemnifying Parties shall have been prejudiced thereby.that: (bi) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity be entitled to participate in the defense of such Third Third-Party Claim with and to employ counsel of its own counsel selection and at its own expense; provided, that if an expense to assist in the handling of such matter or claim; (ii) the Indemnifying Party is also subject to the Third Party Claim and counsel to shall consult with the Indemnified Party prior to acting on major matters, and each Party shall provide the other Party with all cooperation, documents and information reasonably determines in writing that a conflict or potential conflict exists between requested by the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified and (iii) no Party shall, and shall cause each without the prior written consent of the other Party in its Affiliates and representatives tosole discretion, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, or enter into any Third settlement that does not include as an unconditional term thereof the giving by each claimant or plaintiff to each Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid a full and complete release from all amounts arising out liability in respect of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Third-Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 2 contracts

Sources: Asset Purchase and License Agreement (Amtrust Financial Services, Inc.), Asset Purchase and License Agreement (National General Holdings Corp.)

Third Party Claims. (a) In the event that any Person Purchaser Indemnitee desires to make a claim against the Seller or any Seller Indemnitee desires to make a claim against the Purchaser, the Company or Elmwood (such Purchaser Indemnitee or Seller Indemnitee an “Indemnified Party”) under Sections 10.2 or 10.3 Section 9.2 in connection with any action, suit, proceeding, proceeding or demand at any time instituted against or made upon the Indemnified Party by any Person third party for which such Person the Indemnified Party may seek indemnification hereunder (a “Third Party Claim”), the Person or Persons entitled to indemnification hereunder (the “such Indemnified Party”) Party shall promptly notify in writing (i) in the Party case of a claim under Section 9.2(a) or Parties required 9.2(b) (except with respect to provide indemnification hereunder the Photocircuits Bankruptcy Complaint, in which case no notice shall be required), the Seller, or (ii) in the case of a claim under Section 9.2(c), the Purchaser (in each case, an ‘Indemnifying Party”) of such Third Party Claim and of the Indemnified Party’s claim of indemnification with respect thereto, provided provided, however, that the failure of the Indemnified Party to give such prompt notice so notify shall not relieve the Indemnifying Parties Party(ies) of their obligations under this Article Xhereunder, except to the extent, if at all, extent that the Indemnifying Parties Party(ies) are materially prejudiced by such failure. The Indemnifying Party(ies) shall have been prejudiced thereby. (b) Upon 30 days after receipt of such notice from the to notify such Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under if the applicable provisions of this Article X, the Indemnifying Parties will, subject Party(ies) have elected to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim (except with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject respect to the Third Party Photocircuits Bankruptcy Claim and counsel for which Seller has hereby elected to assume defense). If the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the applicable Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related Party(ies) elect to assume the defense of such Third Party Claim. The , such Indemnifying Parties Party(ies) shall select counsel, contractors be entitled at their own expense to conduct and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in control the defense or and settlement of such Third Party Claim; and shall at all times diligently and promptly pursue Claim through counsel of their own choosing on behalf of the resolution applicable Indemnified Party. If the Indemnifying Party(ies) fail to notify the Indemnified Party, within 30 days after receipt of notice of a Third Party Claim that the applicable Indemnifying Party(ies) have elected to assume the defense of such Third Party Claim. The , the Indemnified Party shallshall be entitled to assume the defense of such Third Party Claim at the expense of the applicable Indemnifying Party(ies), and shall cause each provided, however, that the Indemnified Party may not compromise or settle any Third Party Claim without the consent of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense Party, which consent shall not be unreasonably withheld. (b) Any compromise, settlement or offer of settlement of any Third Party Claim defended shall require the prior written consent of the Indemnified Party, which consent shall not be unreasonably withheld, conditioned or delayed. Unless such consent is obtained, the applicable Indemnifying Party(ies) shall continue the defense of such claim; provided, however, that if any Indemnified Party refuses its consent to a bona fide offer of settlement that the applicable Indemnifying Party(ies) wish to accept and that involves no payment of money by such Indemnified Party, and further involves no limitation on the future operation of the business, assets or property of the Company, and that releases such Indemnified Party from all liability in connection with such claim, the applicable Indemnifying Party(ies) may reassign the defense of such claim to such Indemnified Party, who may then continue to pursue the defense of such matter, free of any participation by the Indemnifying PartiesParty(ies), at the sole cost and expense of such Indemnified Party. In such event, the obligation of the applicable Indemnifying Party(ies) with respect thereto shall not exceed the amount of the offer of settlement that such Indemnified Party refused to accept plus the costs and expenses of such Indemnified Party prior to the date such Indemnifying Party(ies) notified such Purchaser Indemnitee of the offer of settlement. (c) The If the Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of Party makes any judgment arising from, payment on any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties Party shall (i) pay or cause be subrogated, to be paid all amounts arising out the extent of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any payment, to all rights and remedies of the assets of any Indemnified Party or agree to any restriction insurance benefits or condition that would apply to or adversely affect any other claims of the Indemnified Party or with respect to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 2 contracts

Sources: Stock Purchase Agreement, Stock Purchase Agreement (Newgistics, Inc)

Third Party Claims. (a) In the event that any Person Buyer Indemnified Party desires to make a claim under Sections 10.2 against the Escrow Deposit or 10.3 any Seller Indemnified Party desires to make a claim against the Buyer, in each case in connection with any actionProceeding, suit, proceeding, demand or demand other claim of a Third Party at any time instituted against or made upon any Person such Indemnified Party for which such Person Indemnified Party may seek indemnification hereunder (a “Third Party Claim”), the Person or Persons entitled to indemnification hereunder (the “such Indemnified Party”) Party shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) applicable Indemnification Control Person of such Third Party Claim and the Indemnified Party’s claim of for indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt The Indemnification Control Person shall have the right to assume the defense of any Third Party Claim with counsel of its choice by providing written notice from to the Indemnified Party pursuant to Section 10.5(awithin thirty (30) and provided that days after the Indemnifying Party confirms in writing that the subject matter set forth in the Indemnification Control Person has received notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim; provided, but shall allow however, that, except as otherwise provided in respect of claims subject to Section 6.03(e), the Indemnified Party shall not be required to permit such an assumption of the defense of any Third Party Claim that, if not first paid, discharged or otherwise complied with, would reasonably be expected to result in a reasonable opportunity Material Adverse Effect on the Buyer or the Seller (as the case may be). (c) The assumption of the defense of any Third Party Claim by the Indemnification Control Person shall not constitute an admission of responsibility to indemnify the Indemnified Party or in any manner impair or restrict the Indemnifying Party’s rights to later be reimbursed its costs and expenses if indemnification under this Agreement with respect to such Proceeding, demand or other claim was not required. The Indemnification Control Person shall not, in the defense of such claim, consent to the entry of any judgment (other than a judgment of dismissal on the merits without costs) or enter into any settlement without the written consent of the Indemnified Party, which consent shall not be unreasonably withheld, delayed or conditioned, except that no such consent shall be required if the sole relief provided is monetary damages that are reimbursed to the Indemnified Party in full as Losses (subject to, with respect to claims by the Buyer Indemnified Parties, the remaining Deductible Amount, if any, that will be paid by the Buyer Indemnified Party, and subject to the other indemnification limitations set forth in this Agreement). (d) If the Indemnification Control Person assumes the defense of a Third Party Claim, the Indemnified Party shall be entitled to participate in the defense of such claim, but solely by observation and comment to the Indemnification Control Person, and any counsel selected by the Indemnified Party shall not appear on its behalf in any Proceeding arising hereunder. The Indemnified Party shall bear the fees and expenses of any additional counsel retained by it to participate in its defense. (e) If the Indemnification Control Person does not assume the defense of a Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees after receipt of the Indemnified Party’s counsel and any other expenses related to the defense notice of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with Claim from the Indemnified Party; shall take all steps necessary Party pursuant to Sections 9.03(a) and 9.03(b), the Indemnified Party may defend against such claim in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claimmanner as it reasonably deems appropriate. The Indemnified Party shallmay not settle such claim without the written consent of the Indemnification Control Person, which consent shall not be unreasonably withheld, delayed or conditioned. (f) The Buyer Indemnified Parties and the Seller Indemnified Parties shall cause each of its Affiliates cooperate in good faith and representatives to, cooperate fully in all respects with the Indemnifying Parties Indemnification Control Person and its representatives (including its counsel) in the investigation, negotiation, settlement, trial and/or defense of any Third Party Claim defended by the Indemnifying Parties. (c) and any appeal arising therefrom). The Indemnifying Parties shall be authorized cooperate with each other in any notifications to consent to a settlement ofand information requests of any insurers. No individual representative of any Indemnifying Party, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtainAffiliates, as a condition of shall be personally liable for any settlement Loss or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have Losses under this Agreement with respect Agreement, except as specifically agreed to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worldby said individual representative.

Appears in 2 contracts

Sources: Stock Purchase Agreement (Veeco Instruments Inc), Stock Purchase Agreement (Bruker Corp)

Third Party Claims. (a) In If any Indemnified Party receives notice of the event that assertion or commencement of any Action made or brought by any Person desires who is not a party to make this Agreement or an Affiliate of a claim under Sections 10.2 party to this Agreement or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder a Representative of the foregoing (a “Third Party Claim”), ) against such Indemnified Party with respect to which the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Indemnifying Party or Parties required is obligated to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect theretounder this Agreement, provided that failure of the Indemnified Party to shall give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms reasonably prompt written notice thereof, but in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control any event not later than thirty (30) calendar days after receipt of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense notice of such Third Party Claim. The failure to give such prompt written notice shall not, however, relieve the Indemnifying Parties Party of its indemnification obligations, except and only to the extent that the Indemnifying Party forfeits rights or defenses by reason of such failure. Such notice by the Indemnified Party shall select describe the Third Party Claim in reasonable detail, shall include copies of all material written evidence thereof and shall indicate the estimated amount, if reasonably practicable, of the Loss that has been or may be sustained by the Indemnified Party. The Indemnifying Party shall have the right to participate in, or by giving written notice to the Indemnified Party within thirty (30) calendar days after receipt of notice of the Third Party Claim, to assume the defense of any Third Party Claim at the Indemnifying Party’s expense and by the Indemnifying Party’s own counsel, contractors and consultants the Indemnified Party shall cooperate in good faith in such defense; provided, however, that the (i) defense of recognized standing and competence after consultation with such Third Party Claim by the Indemnifying Party will not, in the reasonable judgment of the Indemnified Party, have a material adverse effect on the Indemnified Party; shall take all steps necessary (ii) the Indemnifying Party has sufficient financial resources, in the defense or settlement reasonable judgment of the Indemnified Party, to satisfy the amount of any adverse monetary judgment that is reasonably likely to result; (iii) the Third Party Claim solely seeks (and continues to seek) monetary damages; (iv) the Third Party Claim does not include criminal charges, and (v) the Indemnifying Party expressly agrees in writing to be fully responsible for all Losses relating to such Third Party Claim; and , (the conditions set forth in clauses (i) through (v) are, collectively, the “Litigation Conditions”). In the event that the Indemnifying Party assumes the defense of any Third Party Claim, subject to Section 7.05(b), it shall at all times diligently and promptly pursue have the resolution of right to take such action as it deems necessary to avoid, dispute, defend, appeal or make counterclaims pertaining to any such Third Party ClaimClaim in the name and on behalf of the Indemnified Party. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with have the Indemnifying Parties right to participate in the defense of any Third Party Claim defended with counsel selected by it subject to the Indemnifying Parties. (c) Party’s right to control the defense thereof. The Indemnifying Parties fees and disbursements of such counsel shall be authorized at the expense of the Indemnified Party, provided, that if in the reasonable opinion of counsel to consent the Indemnified Party, (A) there are legal defenses available to an Indemnified Party that are different from or additional to those available to the Indemnifying Party; (B) any of the Litigation Conditions ceases to be met; or (C) the Indemnified Party’s counsel advises that there exists a settlement ofconflict of interest between the Indemnifying Party and the Indemnified Party that cannot be waived, the Indemnifying Party shall be liable for the reasonable fees and expenses of counsel to the Indemnified Party in each jurisdiction for which the Indemnified Party determines counsel is required. If the Indemnifying Party elects not to compromise or defend such Third Party Claim, fails to promptly notify the Indemnified Party in writing of its election to defend as provided in this Agreement, or fails to diligently prosecute the entry defense of such Third Party Claim, the Indemnified Party may, subject to Section 7.05(b), pay, compromise and/or defend such Third Party Claim and seek indemnification for any judgment and all Losses based upon, arising from, from or relating to such Third Party Claim. ABS and Parent shall cooperate with each other in all reasonable respects in connection with the defense of any Third Party Claim, including making available records relating to such Third Party Claim and furnishing, without expense (other than reimbursement of actual out-of-pocket expenses) to the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any defending party, management employees of the assets non-defending party as may be reasonably necessary for the preparation of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct defense of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 2 contracts

Sources: Merger Agreement (Erasca, Inc.), Merger Agreement (Erasca, Inc.)

Third Party Claims. (a) In the event that any Person desires to To make a claim under Sections 10.2 or 10.3 for indemnification hereunder in connection with any actionThird-Party Proceeding, suit, proceeding, claim or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Third-Party Claim”), the Person or Persons entitled to a Party making a claim for indemnification hereunder (the an “Indemnified Party”) shall promptly in writing notify the party whom the Indemnified Party or Parties claims is required to provide indemnification hereunder indemnify the Indemnified Party (the an “Indemnifying Party”) of such Third Third-Party Claim and the Indemnified Party’s claim of for indemnification with respect thereto, thereto after obtaining actual knowledge of such Third-Party Claim; provided that failure of the Indemnified Party to promptly give such prompt notice shall will not relieve the Indemnifying Parties Party of their its indemnification obligations under this Article X10, except to the extent, if at allany, that the Indemnifying Parties shall have Party has actually been materially prejudiced thereby. (b) Upon receipt The Indemnifying Party will have the right to assume the entire control of the defense of the Third-Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party by written notice to the Indemnified Party within thirty (30) days after the Indemnifying Party has received notice of the Third-Party Claim from the Indemnified Party, and in case of a Third-Party pursuant Claim relating to Section 10.5(a) and provided Taxes, determination of the forum to contest the imposition of Taxes; provided, that the Indemnifying Indemnified Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions may retain control of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense of and control of such Third be reimbursed for Losses in connection with any Third-Party Claim, but shall allow to the extent that such Third-Party Claim (i) requires immediate compliance or payment to avoid a material adverse effect on the Indemnified Party, (ii) relates to or arises in connection with any Proceeding involving or potentially involving criminal penalties against it, or (iii) gives rise to a reasonable belief of the Indemnified Party that an adverse determination would be materially detrimental to or materially injure the Indemnified Party’s reputation or future business prospects. (c) If an Indemnifying Party assumes the defense of a reasonable opportunity Third-Party Claim, the Indemnified Party shall be entitled to participate in the defense of the claim, provided that the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it unless either of the following apply: (i) the employment of such Third Party Claim with its own counsel and at its own expense; providedhas been authorized in writing by the Indemnifying Party, that or (ii) if the named parties to a Proceeding include both an Indemnifying Party is also subject to and an Indemnified Party, and the Third Party Claim and Indemnified Party’s legal counsel to has advised the Indemnified Party reasonably determines in writing writing, with a copy to the Indemnifying Party, that a conflict there may be one or potential conflict exists between more legal defenses available to such Indemnified Party that are materially different from or additional to those available to the Indemnifying Party and which could give rise to a conflict of interest that would make it inappropriate under applicable standards of professional conduct for the Indemnified Party and the Indemnifying Party to share common counsel. If the event of either (i) or (ii) in the immediately preceding sentence, then the Indemnified Party may employ separate counsel at the expense of the Indemnifying Party to represent the Indemnified Party, then but in no event shall the Indemnifying Parties shall Party be liable under this Article X for obligated to pay the fees costs and expenses of the Indemnified Party’s more than one such separate counsel (and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select local counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of as required) for any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third one Third-Party Claim. (d) Each If an Indemnifying Party assumes the defense of a Third-Party Claim, the Indemnifying Party shall have the right to settle or resolve any such claim by a third party; provided, that any such settlement or resolution contemplated by any of the Parties hereby consents Sellers or Founders, as the Indemnifying Party, that involves any action or inaction by or other injunctive relief with respect to a Purchaser Indemnified Party other than the payment of money (which is paid in full by the Sellers or Founders, subject to the nonexclusive jurisdiction applicable conditions and limits contained in this Article 10) shall not be concluded without the prior written approval of such Purchaser Indemnified Party, which approval may be withheld, delayed or conditioned in such Purchaser Indemnified Person’s sole discretion; and provided, further, that any court such settlement or resolution contemplated by Purchaser, as the Indemnifying Party, that involves any action or inaction by or other injunctive relief with respect to a Seller Indemnified Person other than the payment of money (which is paid in full by Purchaser, subject to the applicable conditions and limits contained in this Article 10) shall not be concluded without the prior written approval of such Seller Indemnified Person, which a proceeding approval may be withheld, delayed or conditioned in respect such Seller Indemnified Person’s sole discretion. (e) If an Indemnifying Party does not assume the active defense of a Third-Party Claim is brought against or any Superior litigation resulting therefrom within 30 days of receipt of notice of such Third-Party Claim from the Indemnified Party under Section 10.04(a) above, or Dynamic such shorter period of time if the Third-Party Claim is a criminal matter requiring more immediate attention or entails a request for immediate injunctive relief, the Indemnified Party may defend against such claim in such manner as it reasonably deems appropriate. (f) The Indemnified Parties shall cooperate reasonably in good faith and in all respects with the Indemnifying Party (at the expense of the Indemnifying Party, except as applicableto counsel unless provided above) and its representatives (including its counsel) in the investigation, for purposes negotiation, settlement, trial and/or defense of any claim that a Superior Indemnified Third-Party Claim (and any appeal arising therefrom), including making available pertinent information within or Dynamic Indemnified under its control. The Parties shall cooperate with each other in any notifications to and information requests of any insurers, and all costs and expenses incurred in such cooperation shall be borne by the Indemnifying Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 2 contracts

Sources: Stock Purchase Agreement (FriendFinder Networks Inc.), Stock Purchase Agreement (FriendFinder Networks Inc.)

Third Party Claims. (a) In the event that any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the The Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity be entitled to participate in the defense of any Claim asserted by any Third Party (“Third Party Claim”) and, subject to the limitations set forth in this Section 10.04, shall be entitled to control and appoint lead counsel (reasonably acceptable to the Indemnified Party) for such defense; provided that prior to assuming control of such defense, the Indemnifying Party must acknowledge that it would have an indemnification obligation for any Losses resulting from such Third Party Claim with its own counsel as provided under this Article 10; and at its own expense; provided, further that if an the Indemnifying Party is also subject shall not be entitled to assume or maintain control of the defense of any Third Party Claim and shall pay the fees and expenses of counsel retained by the Indemnified Party if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation, (ii) the Indemnified Party reasonably believes an adverse determination with respect to the Third Party Claim and counsel would be detrimental to the Indemnified Party’s reputation or future business prospects, (iii) the Third Party reasonably determines in writing that a conflict Claim seeks an injunction or potential conflict exists between the Indemnifying Party and equitable relief against the Indemnified Party, then (iv) the Indemnifying Parties Party has failed or is failing to prosecute or defend vigorously the Third Party Claim, (v) the Third Party Claim relates to Taxes or (iii) the specified damages of such Third Party Claim exceeds an amount equal to the General Escrow Fund (if the Indemnified Party is a Parent Indemnified Party), on the one hand, or the General Escrow Amount less the aggregate amount paid by Parent for indemnifiable losses pursuant to Section 10.02(b) (if the Indemnified Party is an Equityholder Indemnified Party), on the other, in either case less the sum of (A) the amount subject to any other Claims outstanding plus (B) the reasonably anticipated expenses for litigation of such Claim. The Indemnifying Party shall be liable under this Article X for conduct any such defense in good faith, with appropriate diligence and in the fees best interest of the Indemnified Party’s counsel and any other . All expenses related required to be paid by the Equityholder Representative described in this Article 10 may be paid by resort to the General Escrow Fund; provided that Parent has provided its written consent regarding all such expenses (which consent shall not be unreasonably withheld). (b) If the Indemnifying Party is not entitled to, has declined to, or does not assume control of the defense of such a Third Party Claim (or has failed to notify the Indemnified Party in writing of its election to defend such Third Party Claim. The ) within thirty (30) days of the Indemnifying Parties Party’s receipt of notice of such Claim, then the Indemnified Party may notify the Indemnifying Party in writing that it elects to assume control of the defense of such a Third Party Claim, in which case, the Indemnifying Party shall select counsel, contractors and consultants not have the right to assume the defense of recognized standing and competence after consultation such Claim. (c) If the Indemnifying Party shall assume the control of the defense of any Third Party Claim in accordance with the provisions of this Section 10.04, the Indemnifying Party shall obtain the prior written consent of the Indemnified Party; shall take all steps necessary in the defense or Party before entering into any settlement of such Third Party Claim; Claim if the settlement does not expressly unconditionally release the Indemnified Party from all liabilities and shall at all times diligently and promptly pursue the resolution of obligations with respect to such Third Party Claim. Claim or the settlement imposes injunctive or other equitable relief against, or any other adverse effect on, the Indemnified Party. (d) The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties be entitled to participate in the defense of any Third Party Claim defended and to employ separate counsel of its choice for such purpose. The fees and expenses of such separate counsel shall be borne by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if provided that the Indemnifying Parties Party shall pay the fees and expenses of such separate counsel (i) pay incurred by the Indemnified Party prior to the date the Indemnifying Party assumes control of the defense of the Third Party Claim or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any if representation of both the assets of any Indemnifying Party and the Indemnified Party or agree to any restriction or condition that by the same counsel would apply to or adversely affect any Indemnified Party or to the conduct create a conflict of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claiminterest. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 2 contracts

Sources: Merger Agreement (Formfactor Inc), Merger Agreement (Formfactor Inc)

Third Party Claims. (a) In the event that any Person desires to make case of a claim under Sections 10.2 or 10.3 in connection with any claim, action, suit, proceeding, suit or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder proceeding by a third party (a “Third Party Claim”)) as to which indemnification is sought by an Indemnified Party, the Person or Persons entitled Responsible Party shall have ninety (90) days after receipt of the Claim Notice to indemnification hereunder (assume the “Indemnified Party”) shall promptly notify the Party or Parties required conduct and control, through counsel reasonably acceptable to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve at the Indemnifying Parties expense of their obligations under this Article Xthe Responsible Party, except to of the extentsettlement or defense thereof, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from and the Indemnified Party pursuant to Section 10.5(a) and shall reasonably cooperate with it in connection therewith; provided that the Indemnifying Responsible Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions may not assume control of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Action involving criminal liability or in which equitable relief is sought against the Indemnified Party. If the Responsible Party assumes the defense of a Third Party Claim, but the fees and expenses of counsel chosen by the Representative shall allow be paid using the funds in the Escrow Account, and the Indemnified Party a reasonable opportunity shall have the right to participate in but not control such defense through counsel chosen by such Indemnified Party; provided that the defense fees and expenses of such Third Party Claim with its own counsel and at its own expenseshall be borne by such Indemnified Party; providedprovided further, however, that if an Indemnifying Party is also subject to in the Third Party Claim and reasonable opinion of counsel to the Indemnified Party, (A) There are legal defenses available to an Indemnified Party reasonably determines in writing that are different from or additional to those available to the Indemnifying Party, or (B) there exists a conflict or potential conflict exists of interest between the Indemnifying Party and the Indemnified PartyParty that cannot be waived, then the Indemnifying Parties Party shall be liable under this Article X for the reasonable fees and expenses of counsel to the Indemnified Party in each jurisdiction for which the Indemnified Party reasonably determines counsel is required, provided that the Indemnifying Party shall not be responsible for more than one (1) such counsel for all the Indemnified Parties and such counsel shall be selected by the Indemnifying Party. So long as the Responsible Party is reasonably contesting any such claim in good faith, the Indemnified Party shall not pay or settle any such claim except with the prior written consent of the Responsible Party (not to be unreasonably withheld, conditioned or delayed). Notwithstanding the foregoing, the Indemnified Party shall have the right to pay or settle any such claim without the prior consent of the Responsible Party; provided that in such event it shall waive any right to indemnity by the Responsible Party or from the Escrow Account, as the case may be, for such claim. If the Responsible Party does not notify the Indemnified Party within ninety (90) days after the receipt of the Claim Notice that it elects to undertake the defense thereof or is otherwise prohibited from doing so pursuant to the terms hereof, the Indemnified Party shall have the right to contest, settle or compromise the claim without consent and shall not thereby waive any right to indemnity pursuant to this Agreement. The Responsible Party shall not, except with the consent of the Indemnified Party’s counsel and , either (i) enter into any other expenses related settlement that does not include as an unconditional term thereof the giving by the Person or Persons asserting such claim to all Indemnified Parties of an unconditional release from all liability with respect to such claim, or (ii) consent to the defense entry of such Third Party Claim. any judgment. (b) The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation cooperate with the Indemnified Party; shall take each other in all steps necessary reasonable respects in the defense or settlement of such Third Party Claim; investigation, trial and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended and any appeal arising therefrom and shall furnish such records, information and testimony, and attend such conferences, discovery proceedings, hearings, trials and appeals as may be reasonably requested in connection therewith. Such cooperation shall include access during normal business hours afforded to each party and its agents and representatives to, and reasonable retention by each party of records and information which have been identified by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized other party as being reasonably relevant to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the consent and making employees available on a mutually convenient basis to provide additional information and explanation of any Indemnified Party; but only if the Indemnifying Parties material provided hereunder. The parties shall (i) pay or cause cooperate with each other in any notifications to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claiminsurers. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 2 contracts

Sources: Merger Agreement (Ennis, Inc.), Securities Purchase Agreement (Ennis, Inc.)

Third Party Claims. (a) In the event that If any Person desires third-party shall notify any Indemnified Party in writing with respect to make any matter involving a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which by such Person may seek indemnification hereunder third-party (a “Third Third-Party Claim”) which such Indemnified Party believes would give rise to a claim for indemnification against the Indemnifying Party under this Section 4.4, then the Indemnified Party shall promptly (i) notify the Indemnifying Party thereof in writing within thirty (30) days of receipt of notice of such claim and (ii) transmit to the Indemnifying Party a written notice (“Claim Notice”) describing in reasonable detail the nature of the Third-Party Claim, a copy of all papers served with respect to such claim (if any), and the Person or Persons entitled to indemnification hereunder (basis of the Indemnified Party”) shall promptly notify ’s request for indemnification under this Agreement; provided, however, that no delay on the part of the Indemnified Party or Parties required to provide indemnification hereunder (in so notifying the Indemnifying Party”) of such Third Party Claim , and no failure on the claim of indemnification with respect thereto, provided that failure part of the Indemnified Party to give such prompt notice comply with any of the procedures in this Section 4.4, shall not relieve the Indemnifying Parties Party of their obligations any obligation under this Article X, except Section 4.1 with respect thereto unless (and then solely to the extent, if at all, that ) the Indemnifying Parties shall have been Party is materially prejudiced thereby. (b) Upon Subject to Section 4.4(d) below, upon receipt of notice from a Claim Notice with respect to a Third-Party Claim, the Indemnifying Party shall have the right to assume the defense of any Third-Party Claim by notifying the Indemnified Party in writing that the Indemnifying Party elects to assume the defense of such Third-Party Claim, and upon delivery of such notice by the Indemnifying Party, the Indemnifying Party shall have the right to defend such Third-Party Claim with counsel, selected by it, who is reasonably satisfactory to the Indemnified Party, by all appropriate proceedings, which proceedings shall be prosecuted actively and diligently by the Indemnifying Party to a final conclusion or settled. Notwithstanding the foregoing, the Indemnifying Party shall not be entitled to consent to the entry of a judgment or enter into any compromise or settlement with respect to such Third-Party Claim without the prior written consent of the Indemnified Party (which shall not be unreasonably withheld). (c) If requested by the Indemnifying Party, the Indemnified Party agrees, at the sole cost and expense of the Indemnifying Party, to cooperate with the Indemnifying Party and its counsel in contesting any Third-Party Claim which the Indemnifying Party elects to contest, including the making of any related counterclaim against the Person asserting the Third-Party Claim or any cross complaint against any Person. The Indemnified Party shall have the right to receive copies of all pleadings, notices and communications with respect to any Third-Party Claim, other than any privileged communications between the Indemnifying Party and its counsel, and shall be entitled, at its sole cost and expense, to retain separate co-counsel and participate in, but not control, any defense or settlement of any Third-Party Claim assumed by the Indemnifying Party pursuant to Section 10.5(a) and provided 4.4(b); provided, however, if, based on written advice of counsel, the Indemnified Party concludes that there is a reasonable likelihood of a conflict of interest between the Indemnifying Party confirms in writing that and the subject matter set forth in the notice is subject Indemnified Party with respect to indemnification by such Third-Party Claim, the Indemnifying Party under shall bear the applicable provisions reasonable costs and expenses of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and one counsel to the Indemnified Party reasonably in connection with such defense. (d) If (i) the Indemnifying Party fails to notify the Indemnified Party within the thirty (30) days after receipt of any Claim Notice that the Indemnifying Party elects to assume the defense of any Third-Party Claim pursuant to Section 4.4(b), (ii) the Indemnifying Party elects to assume the defense of any Third-Party Claim pursuant to Section 4.4(b) but fails to diligently prosecute or settle such Third-Party Claim, (iii) the Indemnifying Party and the Indemnified Party are parties to the same proceeding (or, assuming the veracity of the facts alleged by the party bringing the Third-Party Claim, the Indemnifying Party and the Indemnified Party may become parties to the same proceeding) and the Indemnified Party determines in writing good faith that a conflict or potential conflict of interest exists between the Indemnifying Party and the Indemnified Party, then (iv) the Indemnified Party determines in good faith that there is a reasonable possibility that it will be prejudiced in any material respect beyond the ambit of such Third-Party Claim by the Indemnifying Parties Party’s control of the defense and proceedings with respect to any Third-Party Claim, or (v) such Third-Party Claim is a claim by a governmental tax authority, then (A) the Indemnified Party shall have the right to assume full control of the defense and proceedings with respect to such Third-Party Claim, and the Indemnified Party may compromise or settle such Third-Party Claim without consulting with, or obtaining consent from, the Indemnifying Party in connection therewith (it being understood and agreed that the Indemnifying Party shall not be liable under this Article X bound by any such compromise or settlement entered into without its consent) and (B) the Indemnifying Party shall reimburse the Indemnified Party promptly and periodically for the costs of defending against the Third-Party Claim (including fees and disbursements of the Indemnified Party’s no more than one counsel and any other expenses related per jurisdiction (such counsel reasonably acceptable to the defense of Indemnifying Party) reasonably incurred in connection with such Third Third-Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim). The Indemnified Party shallshall have full control of such defense and proceedings, and shall cause each of its Affiliates and representatives to, cooperate fully with although the Indemnifying Parties Party shall be entitled to participate in the any defense of any Third Party Claim defended or settlement controlled by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party pursuant to this Section 4.4(d) at its sole expense. Any compromise or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior effected by the Indemnified Party or Dynamic Indemnified without the Indemnifying Party, as applicable, for purposes ’s consent shall not be dispositive of the amount of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement Losses with respect to such proceeding or Third-Party Claim. (e) In the matters alleged therein and agree that process may be served on event any Indemnified Party should have a claim against the Indemnifying Party with respect hereunder which does not involve a Third-Party Claim, the Indemnified Party shall promptly transmit to the Indemnifying Party a written notice (the “Indemnity Notice”) describing in reasonable detail the nature of the claim, the Indemnified Party’s best estimate of the amount of Losses attributable to such a claim anywhere and the basis of the Indemnified Party’s request for indemnification under this Agreement; provided that no delay on the part of the Indemnified Party in delivering the worldIndemnity Notice pursuant to this Section 4.4(e) shall relieve the Indemnifying Party of any obligation hereunder unless (and then solely to the extent) the Indemnifying Party is prejudiced thereby. If the Indemnifying Party does not notify the Indemnified Party within thirty (30) days from its receipt of the Indemnity Notice that the Indemnifying Party disputes such claim (the “Dispute Notice”), the Indemnifying Party shall be deemed to have accepted and agreed with such claim.

Appears in 2 contracts

Sources: Purchase Agreement (China Mobile Games & Entertainment Group LTD), Purchase Agreement (China Mobile Games & Entertainment Group LTD)

Third Party Claims. (a) In the event that any Person desires to make case of Claims made by a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder third party after the Closing (a “Third Party Claim”) with respect to which the Claiming Party seeks to make a Claim against the Responding Party as a result of the breach by the Responding Party of any representation, warranty, certification or covenant made by such Responding Party in or pursuant to this Agreement or any Closing Document, the Claiming Party shall give written notice to the Responding Party of any such Third Party Claim forthwith after receiving notice thereof. If the Claiming Party fails to give such written notice to the Responding Party, such failure shall not preclude the Claiming Party from making such Claim against the Responding Party, but its right to indemnification may be reduced to the extent that such delay prejudiced the defence of the Third Party Claim or increased the amount of liability or the cost of the defence. (b) The Responding Party shall have the right, by written notice to the Claiming Party given not later than thirty (30) days after receipt of the notice referred to in Subsection 6.6(a), to assume the control of the defence, compromise or settlement of the Third Party Claim. (c) Upon the assumption of control of any Third Party Claim by the Indemnifying Party as contemplated by Subsection 6.6(b), the Person Responding Party shall diligently proceed with the defence, compromise or Persons entitled settlement of the Third Party Claim at its sole expense, including, if necessary, employment of counsel reasonably satisfactory to indemnification hereunder the Claiming Party and, in connection therewith, the Claiming Party shall co-operate fully (but at the “Indemnified expense of the Responding Party with respect to any reasonable out-of-pocket expenses incurred by the Claiming Party) to make available to the Responding Party all pertinent information and witnesses under the Claiming Party’s control, make such assignments and take such other steps as in the opinion of counsel for the Responding Party, acting reasonably, are reasonably necessary to enable the Claiming Party to conduct such defence. The Claiming Party shall promptly notify have the right to participate in the negotiation, settlement or defence of any Third Party Claim at its own expense and no Third Party Claim shall be settled, compromised or Parties required otherwise disposed of without the prior written consent of the Claiming Party, such consent not to provide indemnification hereunder (be unreasonably withheld or delayed. If the “Indemnifying Responding Party elects to assume control of the Third Party Claim as contemplated by Subsection 6.6(b), the Claiming Party shall not pay, or permit to be paid, any part of the Third Party Claim unless the Responding Party consents in writing to such payment or unless the Responding Party”) , subject to the last sentence of Subsection 6.6(d), withdraws from the defence of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure or unless a final judgment from which no appeal may be taken by or on behalf of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Responding Party is also subject to entered against the Third Claiming Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees respect of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each If the Responding Party fails to give written notice to the Claiming Party as contemplated by Subsection 6.6(b), the Claiming Party shall be entitled to make such settlement of the Parties hereby consents Third Party Claim, or otherwise deal therewith, as it deems appropriate, acting reasonably, and such settlement or any other final determination of the claim or demand shall be binding upon the Responding Party. If the Responding Party fails to defend or, if after commencing or undertaking such defence, fails to prosecute or withdraws from such defence, the nonexclusive jurisdiction Claiming Party shall have the right to undertake the defence or settlement thereof. If the Claiming Party assumes the defence of any court in which a proceeding in respect of a Third-Third Party Claim is brought against and proposes to settle it prior to a final judgment thereon or to forego any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement appeal with respect thereto, then the Claiming Party shall give the Responding Party prompt written notice thereof, and the Responding Party shall have the right to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere participate in the worldsettlement or assume or reassume the defence of such Third Party Claim.

Appears in 2 contracts

Sources: Agreement of Purchase and Sale (Hollinger Inc), Agreement of Purchase and Sale (Hollinger Inc)

Third Party Claims. (a) In the event that of any Person desires to make claim by a claim under Sections 10.2 third party against any Purchaser Indemnitee or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person Seller Indemnitee for which such Person may seek indemnification hereunder is available under this ARTICLE VII (a “Third Third-Party Claim”), subject to the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure rights of the Indemnified Party to give such prompt notice shall not relieve set forth in this Section 7.5, the Indemnifying Parties of their obligations under this Article X, except Party will have the right to defend the Third-Party Claim with counsel (at its sole cost and expense) reasonably satisfactory to the extentIndemnified Party. The Indemnifying Party will keep the Indemnified Party apprised of all material developments, if at allincluding settlement offers, that with respect to the Indemnifying Parties shall have been prejudiced therebyThird-Party Claim. (b) Upon Notwithstanding the foregoing, (i) the Indemnified Party shall have the right to independently control and assume the defense of any Third-Party Claim to the extent the Indemnifying Party fails to assume the defense of such Third-Party Claim within 30 days of receipt of notice from of the applicable Third-Party Claim, and (ii) the Indemnified Party pursuant shall have the right to Section 10.5(a) and provided that participate jointly with the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow (at the Indemnified Party a reasonable opportunity to participate Party’s sole cost and expense) in the defense of such Third any Third-Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third extent such Third-Party Claim and counsel to (X) in the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and good faith judgment of the Indemnified Party, then is likely to result in a conflict of interest between the Indemnified Party and the Indemnifying Parties Party, or (Y) would reasonably be expected to have a material adverse effect the Indemnified Party’s Permits or ongoing business operations. For the avoidance of doubt, in the case of clause (i) above, the costs and expenses of the Indemnified Party shall continue to be subject to the indemnification terms pursuant to this ARTICLE VII. In the event that the Indemnified Party elects pursuant to clause (ii) to participate jointly with the Indemnifying Party in the defense of a Third-Party Claim, each party shall keep the other party reasonably informed of, and consult with the other party regarding, any material decisions with respect to the defense of the Third-Party Claim. (c) In addition to the rights set forth in Section 7.5(b), if the defense or settlement of any Third-Party Claim would reasonably be expected to impose non-monetary obligations on the Indemnified Party, including injunctive relief, that are reasonably expected to have an adverse effect in any material respect on the Indemnified Party, the Indemnified Party shall have the right to assume control of such defense (provided, however that, the Indemnifying Party shall have the right to participate jointly with the Indemnified Party at the Indemnifying Party’s cost and expense). In such case, the costs and expenses of the Indemnified Party shall be liable under subject to indemnification terms pursuant to this Article X for VII. (d) No Indemnifying Party may settle or compromise any claim or consent to the fees entry of any judgment with respect to which indemnification or recovery is being sought hereunder without the prior written consent of the Indemnified Party (such consent not to be unreasonably withheld, conditioned, or delayed), unless such settlement, compromise or consent (w) includes an unconditional release of the Indemnified Party and from all liability arising out of such claim, (x) does not contain any admission or statement suggesting any wrongdoing or liability on behalf of the Indemnified Party, and (y) does not contain any equitable order, judgment or term that in any manner affects, restrains or interferes with the business of the Indemnified Party or any of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying PartiesAffiliates. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 2 contracts

Sources: Asset Purchase Agreement (Finance of America Companies Inc.), Asset Purchase Agreement (Onity Group Inc.)

Third Party Claims. (ai) In the event that any Person desires to make If a claim under Sections 10.2 third party initiates a claim, demand, dispute, lawsuit or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder arbitration (a “Third Third-Party Claim”), the ) against any Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify with respect to any matter that the Indemnified Party or Parties required to provide might make a claim for indemnification hereunder against any Party (the “Indemnifying Party”) under this ARTICLE 6, then the Indemnified Party must promptly notify the Indemnifying Party in writing of the existence of such Third Third-Party Claim and the claim must deliver copies of indemnification with respect thereto, provided that failure of any documents served on the Indemnified Party with respect to give such prompt notice the Third-Party Claim; provided, however, that any failure on the part of an Indemnified Party to so notify an Indemnifying Party shall not relieve limit any of the obligations of the Indemnifying Parties of their obligations Party under this Article X, ARTICLE 6 (except to the extent, if at alland only to the extent, that such failure materially prejudices the Indemnifying Parties shall have been prejudiced therebydefense of such proceeding). (bii) Upon receipt of the notice from described in Section 6.6(a)(i), the Indemnifying Party will have the right to defend the Indemnified Party pursuant against the Third- Party Claim with counsel reasonably satisfactory to Section 10.5(athe Indemnified Party, provided, that (i) and provided the Indemnifying Party notifies the Indemnified Party in writing within fifteen (15) days after the Indemnified Party has given notice of the Third-Party Claim that the Indemnifying Party confirms in writing that will indemnify the subject matter set forth Indemnified Party from and against the entirety of any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the notice is subject to indemnification nature of, or caused by the Third-Party Claim, (ii) the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third-Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third-Party Claim involves only money damages and does not seek an injunction or other equitable relief or are asserted by any Governmental Body, (iv) settlement of, or an adverse judgment with respect to, the Third-Party Claim is not, in the good faith judgment of the Indemnified Party, likely to establish a reasonable opportunity precedential custom or practice adverse to the continuing business interests or the reputation of the Indemnified Party, (v) the Indemnifying Party conducts the defense of the Third-Party Claim actively and diligently, and (vi) such Third- Party Claim is not related to a Material Supplier or Material Customer. The Indemnifying Party will keep the Indemnified Party apprised of all material developments, including settlement offers, with respect to the Third-Party Claim and permit the Indemnified Party to participate in the defense of such Third the Third-Party Claim with its own counsel and at its own expense; provided, Claim. (iii) In the event that if an Indemnifying Party either (x) any of the conditions under Section 6.6(a)(ii) is also subject to the Third Party Claim and counsel to or becomes unsatisfied or (y) the Indemnified Party shall have reasonably determines concluded that there are likely to be defenses available to it that are different from or additional to those asserted by Indemnifying Party, then, in writing that a conflict or potential conflict exists between the Indemnifying Party and either case, (i) the Indemnified Party, then Party shall have the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related right to direct the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Third-Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to and/or consent to a settlement of, or the entry of any judgment arising from, on or enter into any Third settlement with respect to the Third-Party Claim) in any manner the Indemnified Party may reasonably deem appropriate, including, without the consent of any Indemnified Party; but only if limitation, by employing separate counsel at the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; Party’s expense, (ii) not encumber any of the assets of any Indemnifying Party will reimburse the Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified promptly and periodically for the costs of defending against the Third-Party or to the conduct of any Indemnified Party’s business; Claim (including reasonable attorneys’ fees and expenses), and (iii) obtain, as a condition of the Indemnifying Party will remain responsible for any settlement or other resolution, a complete release of any Adverse Consequences the Indemnified Party potentially affected may suffer resulting from, arising out of, relating to, in the nature of, or caused by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior to the fullest extent provided in this ARTICLE 6. (iv) Except in circumstances described in Section 6.6(a)(iii), neither the Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes nor the Indemnifying Party will consent to the entry of any claim that a Superior Indemnified Party judgment or Dynamic Indemnified Party, as applicable, may have under this Agreement enter into any settlement with respect to such proceeding the Third-Party Claim without the prior written consent of the other party, which consent will not be unreasonably withheld or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worlddelayed.

Appears in 2 contracts

Sources: Membership Interest Purchase Agreement (Village Farms International, Inc.), Membership Interest Purchase Agreement (Village Farms International, Inc.)

Third Party Claims. (a) In the event that any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the The Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity be entitled to participate in the defense of any Claim asserted by any Third Party (“Third Party Claim”) and, subject to the limitations set forth in this Section 9.05, shall be entitled to control and appoint lead counsel (reasonably acceptable to the Indemnified Party) for such defense; provided that, prior to assuming control of such defense, the Indemnifying Party must acknowledge that it would have an indemnification obligation for any Losses resulting from such Third Party Claim with its own counsel as provided under this Article 9; and at its own expense; provided, further that if an the Indemnifying Party is also subject shall not be entitled to assume or maintain control of the defense of any Third Party Claim and shall pay the fees and expenses of counsel retained by the Indemnified Party if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation, (ii) the Indemnified Party reasonably believes an adverse determination with respect to the Third Party Claim and counsel would be detrimental to the Indemnified Party’s reputation or future business prospects, (iii) the Third Party reasonably determines in writing that a conflict Claim seeks an injunction or potential conflict exists between the Indemnifying Party and equitable relief against the Indemnified Party, then (iv) the Indemnifying Party has failed or is failing to prosecute or defend vigorously the Third Party Claim, as reasonably determined by the Indemnified Parties or (v) the specified damages of such Third Party Claim exceeds an amount equal to the unexhausted portion of the Indemnity Holdback less the sum of (A) the amount subject to any other Claims outstanding plus (B) the reasonably anticipated expenses for litigation of such Claim. The Indemnifying Party shall be liable under this Article X for conduct any such defense in good faith, with appropriate diligence and in the fees best interest of the Indemnified Party’s counsel and any other . All expenses related required to be paid by the Indemnifying Party described in this Article 9 may be paid from the Indemnity Holdback; provided that Parent has provided its written consent regarding all such expenses (which consent shall not be unreasonably withheld). (b) If the Indemnifying Party is not entitled to, has declined to, or does not assume control of the defense of such a Third Party Claim (or has failed to notify the Indemnified Party in writing of its election to defend such Third Party Claim. The ) within thirty (30) days of the Indemnifying Parties Party’s receipt of notice of such Claim, then the Indemnified Party may notify the Indemnifying Party in writing that it elects to assume control of the defense of such a Third Party Claim, in which case, the Indemnifying Party shall select counsel, contractors and consultants not have the right to assume the defense of recognized standing and competence after consultation such Claim. (c) If the Indemnifying Party shall assume the control of the defense of any Third Party Claim in accordance with the provisions of this Section 9.05, the Indemnifying Party shall obtain the prior written consent of the Indemnified Party; shall take all steps necessary in the defense or Party before entering into any settlement of such Third Party Claim; Claim if the settlement does not expressly unconditionally release the Indemnified Party from all liabilities and shall at all times diligently and promptly pursue the resolution of obligations with respect to such Third Party Claim. Claim or the settlement imposes injunctive or other equitable relief against, or any other adverse effect on, the Indemnified Party. (d) The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties be entitled to participate in the defense of any Third Party Claim defended and to employ separate counsel of its choice for such purpose. The fees and expenses of such separate counsel shall be borne by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if provided that the Indemnifying Parties Party shall pay the fees and expenses of such separate counsel (i) pay incurred by the Indemnified Party prior to the date the Indemnifying Party assumes control of the defense of the Third Party Claim or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any if representation of both the assets of any Indemnifying Party and the Indemnified Party or agree to any restriction or condition that by the same counsel would apply to or adversely affect any Indemnified Party or to the conduct create a conflict of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claiminterest. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 2 contracts

Sources: Merger Agreement (Callidus Software Inc), Agreement and Plan of Merger (Callidus Software Inc)

Third Party Claims. (a) In the event If an Indemnified Party receives notice or otherwise obtains knowledge of any claim or Action that any Person desires has been or may be brought or asserted by a Third Party that may give rise to make a an indemnification claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder an Indemnifying Party (a “Third Party Claim”), then the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) Party shall promptly notify deliver to the Indemnifying Party or Parties required a written notice in accordance with Section 10.4. The Indemnifying Party under this Article X shall have the right, but not the obligation, to provide indemnification hereunder conduct and control, through counsel of its choosing, any Third Party Claim; provided, that (i) the “Indemnifying Party”) of such Third Party Claim does not relate to or arise in connection with any criminal proceeding, action, indictment, allegation or investigation, (ii) the Third Party Claim solely seeks (and continues to seek) monetary damages and/or equitable or corrective relief (with or without monetary damages, fines or penalties) which equitable relief would not reasonably be expected to adversely affect the claim operations of indemnification KO and NewCo or their respective Affiliates, as applicable, and (iii) the Indemnifying Party expressly agrees with respect thereto, provided that failure of the Indemnified Party in writing to give such prompt notice shall not relieve be fully responsible for all of the Indemnifying Parties of their obligations under this Article XDamages that arise from the Third Party Claim, except subject to the extent, if at all, that the Indemnifying Parties shall have been prejudiced therebylimitations set forth in Section 10.6. (b) Upon receipt If the Indemnifying Party elects to assume the defense of notice from and indemnification for any such matter, then the Indemnifying Party shall not consent to the entry of judgment or enter into any settlement with respect to a Third Party Claim without the prior written consent of the Indemnified Party pursuant (not to Section 10.5(abe unreasonably withheld, conditioned or delayed) unless the judgment or proposed settlement involves (i) only the payment of money, (ii) does not impose an injunction or other equitable relief upon the Indemnified Party, and provided that (iii) includes as a term thereof the Indemnifying release of the Indemnified Party confirms in writing that the subject matter set forth in the notice is subject from all liability with respect to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim. No Indemnified Party may compromise or settle any Third Party Claim for which it is seeking indemnification hereunder without the consent of the Indemnifying Party (which shall not be unreasonably withheld, but conditioned or delayed). The Indemnifying Party shall allow permit the Indemnified Party a reasonable opportunity to participate in, but not control, the defense of any such Action or suit through counsel chosen by the Indemnified Party; provided that the fees and expenses of such counsel shall be borne by the Indemnified Party; provided, further, that such Indemnified Party shall have the right to employ separate counsel and to participate in the defense of such Third Party Claim with its own Action or proceeding, the reasonable fees and expenses of such separate counsel and at its own expense; provided, that if an to be borne by the Indemnifying Party if, but only if, there is also subject to the Third Party Claim and counsel to a conflict of interest between the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between and the Indemnifying Party and in the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees conduct of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The If the Indemnifying Parties Party elects not to control or conduct the defense or prosecution of a Third Party Claim, the Indemnifying Party nevertheless shall select counsel, contractors and consultants of recognized standing and competence after consultation with have the Indemnified Party; shall take all steps necessary right to participate in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense prosecution of any Third Party Claim defended by the Indemnifying Partiesand, at its own expense, to employ counsel of its own choosing for such purpose. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, cooperate in the defense or the entry prosecution of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall with such cooperation to include (i) pay or cause the retention and the provision of the Indemnifying Party records and information that are reasonably relevant to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; Third Party Claim, and (ii) not encumber the making available of employees on a mutually convenient basis for providing additional information and explanation of any material provided hereunder and, if applicable, participating in and attending depositions, trials or similar proceedings. (d) The party controlling the defense of a Third Party Claim will (i) keep the non-controlling party reasonably advised of the assets status of such Third Party Claim and the defense thereof and will consider in good faith recommendations made by the non-controlling party with respect thereto and (ii) make available to the non-controlling party any documents or materials in its possession or control that may be necessary to understand the defense of such claim (subject to confidentiality obligations and the protection of the attorney-client privilege). The non-controlling party will furnish the controlling party with such information as it may have with respect to such Third Party Claim (including copies of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtainsummons, as a condition of any settlement complaints or other resolutionpleadings which may have been served on such party and any written claim, a complete release demand, invoice, billing or other document evidencing or asserting the same) and will otherwise reasonably cooperate with and assist the controlling party in the defense of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 2 contracts

Sources: Asset Transfer Agreement (New Laser Corp), Asset Transfer Agreement (Monster Beverage Corp)

Third Party Claims. (a) In the event that any Person party desires to make a claim under Sections 10.2 6.2 or 10.3 6.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person party for which such Person party may seek indemnification hereunder (a “Third Party Claim”"THIRD PARTY CLAIM"), the Person party or Persons parties entitled to indemnification hereunder (the “Indemnified Party”"INDEMNIFIED PARTY") shall promptly notify the Party party or Parties parties required to provide indemnification hereunder (the “Indemnifying Party”"INDEMNIFYING PARTY") of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article XVI, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X6.5(a), the Indemnifying Parties will, subject to the provisions of Section 10.5(c6.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; providedPROVIDED, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X VI for the fees of the Indemnified Party’s 's counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s 's business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties The parties each hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior an Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a the Indemnifying Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Membership Interest Purchase Agreement (Blackwater Midstream Corp.)

Third Party Claims. (a) In Without limiting the event general application of the other provisions of this Article 9, if another Person not a party to this Agreement alleges facts that, if true, would mean that any Person desires a party has breached its representations and warranties in this Agreement, the party for whose benefit the representations and warranties are made will be entitled to make seek indemnification for those allegations and demands and related Losses under, and pursuant to the terms and limitations set forth in, this Article 9. If an Indemnified Party seeks indemnity under this Article 9 in respect of, arising out of or involving a claim under Sections 10.2 or 10.3 in connection with any actiondemand, suitwhether or not involving a Proceeding, proceeding, or demand at any time instituted against or made upon any by another Person for which such Person may seek indemnification hereunder not a party to this Agreement (a “Third Party Claim”), then such Indemnified Party will include in the Person Claim Notice (i) notice of the commencement or Persons entitled threat of any Proceeding relating to indemnification hereunder such Third Party Claim within 30 days after the Indemnified Party has received written notice of the commencement of the Third Party Claim and (ii) the “Indemnified Party”) shall promptly notify facts constituting the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of basis for such Third Party Claim and the claim amount of indemnification with respect theretothe damages claimed by the other Person, provided that failure in each case to the extent known or available to the Indemnified Party. Notwithstanding the foregoing, no delay or deficiency on the part of the Indemnified Party to give such prompt notice shall not in so notifying the Indemnifying Party will relieve the Indemnifying Parties Party of their obligations any Liability or obligation under this Article X, Agreement except to the extent, if at all, that extent the Indemnifying Parties shall have Party’s ability to defend such claim has been materially prejudiced therebyas a result of the delay or other deficiency. (b) Upon receipt of notice from Within 30 days after the Indemnified Party pursuant to Party’s delivery of a Claim Notice under this Section 10.5(a) and provided that 9.4, the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), may assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel by giving to the Indemnified Party written notice of the intention to assume such defense, but if and at its own expense; provided, that only if an the Indemnifying Party further: (i) acknowledges in writing to the Indemnified Party that such Indemnified Party is also subject entitled to indemnification under this Article 9 with respect to such Third Party Claim and (ii) retains counsel for the defense of the Third Party Claim and counsel reasonably satisfactory to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related agrees to diligently prosecute the defense of such the applicable Third Party Claim. The Indemnifying Parties shall select counselHowever, contractors and consultants of recognized standing and competence after consultation with if the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with Seller is the Indemnifying Parties Party, in no event may the Indemnifying Party assume, maintain control of, or participate in, the defense of any Third Party Claim defended (A) involving criminal liability, (B) involving a claim by one of the top 10 customers of the Business, in which the outcome could reasonably be expected to adversely affect the Indemnified Party’s future business relationship with such customer or (C) in which the primary remedy sought is an injunction or equitable relief (collectively, clauses (A) – (C), the “Special Claims”). An Indemnifying Party will lose any previously acquired right to control the defense of any Third Party Claim if for any reason the Indemnifying PartiesParty ceases to diligently conduct the defense. (c) If the Indemnifying Party does not, or is not permitted pursuant to Section 9.4(b) to, assume or maintain control of the defense of a Third Party Claim in compliance with Section 9.4(b), the Indemnified Party will have the right to control the defense of the Third Party Claim. If the Indemnified Party controls the defense of the Third Party Claim, the Indemnifying Party agrees to pay to the Indemnified Party promptly upon demand from time to time all reasonable and documented out-of-pocket attorneys’ fees and other reasonable and documented out-of-pocket costs and expenses of defending the Third Party Claim; provided that the Indemnifying Party shall not be liable for the fees and expenses of more than one counsel for all Indemnified Parties. The party not controlling the defense (the “Noncontrolling Party”) of a Third Party Claim may participate therein at its own expense. However, if the Indemnifying Party assumes control of such defense as permitted above and the Indemnified Party reasonably concludes on the good faith advice of outside counsel that the Indemnifying Party and the Indemnified Party have conflicting interests or legal defenses (that are not de minimis in character) that are different available with respect to the Third Party Claim, then the reasonable and documented out-of-pocket fees and expenses of one counsel to all Indemnified Parties shall will be authorized considered and included as “Losses” for purposes of this Agreement. The party controlling the defense (the “Controlling Party”) will reasonably advise the Noncontrolling Party of the status of the Third Party Claim and the defense thereof and, with respect to consent any Third Party Claim that does not relate to a Special Claim, the Controlling Party will consider in good faith recommendations made by the Noncontrolling Party. The Noncontrolling Party will furnish the Controlling Party with such information as it may have with respect to such Third Party Claim and related Proceedings (including copies of any summons, complaint or other pleading which may have been served on such party and any written claim, demand, invoice, billing or other document evidencing or asserting the same) and will otherwise cooperate with and assist in the defense of the Third Party Claim. (d) The Indemnified Party shall not agree to any compromise or settlement of, or the entry of any judgment Judgment arising from, any Third Party Claim, Claim without the prior written consent of the Indemnifying Party, which consent the Indemnifying Party will not unreasonably withhold, condition or delay. The Indemnifying Party will not agree to any compromise or settlement of, or the entry of any Judgment arising from, the Third Party Claim without the prior written consent of the Indemnified Party, which consent the Indemnified Party will not unreasonably withhold, condition or delay; but only provided that the prior written consent of the Indemnified Party will not be required if the Indemnifying Parties shall (i) pay such compromise, settlement or cause to be paid all amounts arising out Judgment does not involve a finding or admission of any violation by the Indemnified Party of any Law, (ii) such compromise, settlement or judgment concurrently includes an unconditional (other than conditions satisfied in connection with the effectiveness applicable compromise, settlement, or judgment, such as the payment of such settlement; (iimonetary damages by the Indemnifying Party) not encumber any release of the assets of any Indemnified Party or agree to by the Person bringing such Third Party Claim from any restriction or condition that would apply to or adversely affect any and all Liabilities such Indemnified Party or may have with respect to the conduct of any Indemnified Party’s business; such Third Party Claim and (iii) obtainthe sole relief provided is monetary damages that are paid in full by the Indemnifying Party. The Indemnified Party will have no Liability with respect to any compromise or settlement of, as a condition or the entry of any settlement or other resolutionJudgment arising from, a complete release of any Indemnified Party potentially affected by such Third Party ClaimClaim effected without its consent given as provided herein. (de) Each of the Parties hereby consents This Section 9.4 shall not apply, and Section 8.7 shall instead apply, to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worldTax Claim.

Appears in 1 contract

Sources: Stock Purchase Agreement (Volt Information Sciences, Inc.)

Third Party Claims. (a) In the event that any If a Proceeding by a Person desires to make who is not a claim under Sections 10.2 party hereto or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder an Affiliate thereof (a “Third Party Claim”)) is made, the commenced or threatened in writing against any Person or Persons entitled to indemnification hereunder pursuant to Section 8.2 (the an “Indemnified Party”) ), and if such Person intends to seek indemnity with respect thereto under this Article VIII, such Indemnified Party shall promptly notify give a Notice of Claim to the party obligated to indemnify such Indemnified Party or Parties required to provide indemnification hereunder (such notified party, the “Indemnifying Responsible Party”); provided that the failure to give such Notice of Claim shall not relieve the Responsible Party of its obligations hereunder, except to the extent that the Responsible Party is actually prejudiced thereby. The Responsible Party shall have thirty (30) days after receipt of such Third notice to assume the conduct and control, through counsel reasonably acceptable to the Indemnified Party Claim and at the expense of the Responsible Party, of the settlement or defense thereof, and the claim Indemnified Party shall cooperate with the Responsible Party in connection therewith (it being acknowledged and agreed that upon such assumption of indemnification with respect theretoconduct and control, the Responsible Party, and not the Indemnified Party, shall have the exclusive right to settle and defend such Proceeding); provided that failure of the Responsible Party shall permit the Indemnified Party to give participate in such prompt notice settlement or defense through counsel chosen by such Indemnified Party (the fees and expenses of such counsel shall not relieve be borne by such Indemnified Party). So long as the Indemnifying Parties of their obligations under this Article XResponsible Party is reasonably contesting any such claim in good faith, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant shall not pay or settle any such claim. If the Responsible Party elects to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume conduct the defense and control settlement of a Third Party Claim, then the Indemnified Party shall have the right to pay or settle such Third Party Claim, but ; provided that in such event it shall allow waive any right to indemnity by the Responsible Party for all Losses related to such claim unless the Responsible Party shall have consented to such payment or settlement. If the Responsible Party does not notify the Indemnified Party a reasonable opportunity to participate in within thirty (30) days after the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees receipt of the Indemnified Party’s counsel and any other expenses related Notice of Claim hereunder that it elects to undertake the defense of such Third thereof, the Indemnified Party Claimshall have the right to contest, settle or compromise the claim but shall not thereby waive any right to indemnity therefor pursuant to this Agreement. The Indemnifying Parties Responsible Party shall select counselnot, contractors and consultants of recognized standing and competence after consultation except with the consent of the Indemnified Party; Party (which shall take not be unreasonably withheld or delayed), enter into any settlement that does not include as a term thereof the giving by the Person(s) asserting such claim to all steps necessary in the defense Indemnified Parties of a release from all liability with respect to such claim or settlement consent to entry of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claimany judgment. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with in no event settle (or consent to the Indemnifying Parties in the defense of settlement of) any Third Party Claim defended without the prior written consent of the Responsible Party. Any non-compliance by the Indemnifying Parties. (c) The Indemnifying Parties Indemnified Party with the terms and conditions of this Section 8.3 shall be authorized deemed a waiver of such Indemnified Party’s right to consent to a settlement of, or indemnification hereunder and shall unconditionally absolve the entry Responsible Party of any judgment arising from, obligation to provide any Third Party Claim, without the consent indemnification hereunder in respect of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay Losses related to or cause to be paid all amounts arising out of such settlement or judgment concurrently in connection with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (db) Each All of the Parties hereby consents to parties hereto shall cooperate in the nonexclusive jurisdiction defense or prosecution of any court in which a proceeding Third Party Claim in respect of which indemnity may be sought hereunder and each of Parent and the Surviving Corporation (or a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Partyduly authorized representative of such party) shall (and shall cause the Company to) furnish such records, information and testimony, and attend such conferences, discovery proceedings, hearings, trials and appeals, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere reasonably requested in the worldconnection therewith.

Appears in 1 contract

Sources: Merger Agreement (United Community Banks Inc)

Third Party Claims. The obligations and liabilities of the Company Stockholders with respect to their respective indemnities pursuant to this Article IX, resulting from any Third Party Claim shall be subject to the following terms and conditions: (a) In The party seeking indemnification (the event that "Indemnified Party") must give the party obligated to indemnify (the "Indemnifying Party"), notice of any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”)Claim which is asserted against, resulting to, imposed upon or incurred by the Person Indemnified Party and which may give rise to liability of the Indemnifying Party pursuant to this Article IX, stating (to the extent known or Persons entitled to indemnification hereunder (reasonably anticipated) the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) nature and basis of such Third Party Claim and the claim of indemnification with respect thereto, amount thereof; provided that the failure to give such notice shall not affect the rights of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, hereunder except to the extent, if at all, extent (i) that the Indemnifying Parties Party shall have been prejudiced therebysuffered actual damage by reason of such failure, or (ii) such failure or delay materially adversely affects the ability of the Indemnifying Party to defend, settle or compromise such Third Party Claim. (b) Upon receipt of notice from the Indemnified Party pursuant Subject to Section 10.5(a9.03(c) and provided that below, if the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control assumes responsibility for Losses arising out of such Third Party Claim, but then the Indemnifying Party shall allow have the Indemnified Party a reasonable opportunity right to participate in undertake, by counsel or other representatives of its own choosing, the defense of such Third Party Claim with its own counsel at the Indemnifying Party's risk and at its own expense; provided, . (c) In the event that if an (i) the Indemnifying Party is also subject shall elect not to the Third Party Claim and counsel to undertake such defense, (ii) within a reasonable time after notice from the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The , the Indemnifying Parties Party shall select counselfail to undertake to defend such Third Party Claim, contractors or (iii) there is a reasonable probability that such Third Party Claim may materially and consultants of recognized standing and competence after consultation with adversely affect the Indemnified Party other than as a result of money damages or other money payments, then the Indemnified Party (upon further written notice to the Indemnifying Party; ) shall take all steps necessary in have the defense right to undertake the defense, compromise or settlement of such Third Party Claim; , by counsel or other representatives of its own choosing, on behalf of and for the account and risk of the Indemnifying Party. In the event that the Indemnified Party undertakes the defense of a Third Party Claim under this Section 9.03, the Indemnifying Party shall at pay to the Indemnified Party, in addition to the other sums required to be paid hereunder, the reasonable costs and expenses incurred by the Indemnified Party in connection with such defense, compromise or settlement as and when such costs and expenses are so incurred. (d) Anything in this Section 9.03 to the contrary notwithstanding, (i) neither the Indemnified Party nor the Indemnifying Party shall, without the other party's written consent (which consent shall not be unreasonably withheld or delayed), settle or compromise such Third Party Claim or consent to entry of any judgment which does not include as an unconditional term thereof the giving by the claimant or the plaintiff to the Indemnified Party of a release from all times diligently and promptly pursue the resolution liability in respect of such Third Party Claim. The Indemnified Party shall, Claim in form and shall cause each of its Affiliates and representatives to, cooperate fully with substance satisfactory to the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any in the event that a party hereto undertakes defense of such Third Party Claim in accordance with this Section 9.03, the assets other parties, by counsel or other representative of any Indemnified Party their own choosing and at their sole cost and expense, shall have the right to participate in the defense, compromise or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to settlement thereof and each party and its counsel and other representatives shall cooperate with the conduct of any Indemnified Party’s businessother party and its counsel and representatives in connection therewith; and (iii) obtain, as a condition the party that undertakes the defense of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each Claim in accordance with this Section 9.03 shall have an obligation to keep the other parties informed of the Parties hereby consents to status of the nonexclusive jurisdiction defense of any court in which a proceeding in respect of a Third-such Third Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Partyand furnish the other parties with all documents, as applicable, for purposes of any claim instruments and information that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere other parties shall reasonably request in the worldconnection therewith.

Appears in 1 contract

Sources: Merger Agreement (Titan Corp)

Third Party Claims. (a) In the event that If any claim is instituted by or against a third party with respect to which any Indemnified Person desires or Seller Indemnitee (an “Indemnified Party”) intends to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder Damages (a “Third Party Claim”), the Person or Persons entitled pursuant to indemnification hereunder (the “this Article VIII, such Indemnified Party”) Party shall promptly notify the Party or Parties required to provide from whom indemnification hereunder is being claimed (the “Indemnifying Party”) of such claim and, in any event, within fifteen (15) days after receipt by such Indemnified Party of written notice of such Third-Party Claim. Thereafter, the Indemnified Party shall deliver to the Indemnifying Party, within ten (10) days after the Indemnified Party’s receipt thereof, copies of all notices and documents (including court papers) received by the Indemnified Party relating to the Third Party Claim and the claim of indemnification with respect thereto, Claims. The notice provided that failure of by the Indemnified Party to the Indemnifying Party shall describe the Third Party Claim (the “Asserted Liability”) in reasonable detail and shall indicate the amount (estimated, if necessary, and to the extent feasible) of the Damages that have been or may be suffered by the Indemnified Party. The failure of an Indemnified Party to give such prompt any notice required by this Section 8.7(a) shall not relieve the Indemnifying Parties affect any of their obligations such Party’s rights under this Article X, VIII or otherwise except and to the extent, if at all, extent that such failure is prejudicial to the rights or obligations of the Indemnifying Parties shall have been prejudiced therebyParty. (b) Upon receipt The Indemnifying Party may elect to defend, at its own expense and with its own counsel reasonably satisfactory to the Indemnified Party, any Asserted Liability, unless the Asserted Liability is one in which: (i) the Third Party asserting the claim is a current, ongoing customer of notice from the Company or the Buyer; (ii) an adverse judgment with respect to the Asserted Liability will establish a precedent materially adverse to the continuing business interests of the Indemnified Party; or (iii) there is a conflict of interest between the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by conduct of such defense. If the Indemnifying Party under elects to defend the applicable provisions of this Article XAsserted Liability, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate shall cooperate, at the expense of the Indemnifying Party, in the defense of such Third Party Claim with its own counsel Asserted Liability and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and not admit any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation liability with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives respect to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement ofor settle, compromise or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by discharge such Third Party Claim. (c) In any case in which the Indemnified Party retains the defense of the Asserted Liability, the Indemnifying Party may participate in the defense of the Asserted Liability, and neither party shall admit any liability with respect to, or settle, compromise or discharge such Third Party Claim without the other party’s prior written consent, (which consent shall not be unreasonably withheld or delayed). (d) Each If the Indemnifying Party chooses to defend or participate in the defense of any Asserted Liability as provided hereunder, the Indemnified Party shall make available to the Indemnifying Party any books, records or other documents within its control that are necessary or appropriate for such defense and shall otherwise cooperate in the defense of such Asserted Liability. (e) The Indemnified Party may pay, compromise or defend any Asserted Liability in which the Indemnifying Party does not assume or participate in the defense, at the sole cost and expense of the Parties hereby consents Indemnifying Party if, and to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-extent, the Indemnifying Party Claim is brought against any Superior determined to be liable for indemnification to the Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worldAgreement.

Appears in 1 contract

Sources: Stock Purchase Agreement (Pec Solutions Inc)

Third Party Claims. (a) In The Indemnified Party seeking indemnification under this Agreement shall promptly notify the event that Party against whom indemnification is sought (the “Indemnifying Party”) of the assertion of any Person desires to make a claim under Sections 10.2 claim, or 10.3 in connection with the commencement of any action, suit, proceeding, suit or demand at proceeding by any time instituted against or made upon any Person for which such Person may seek indemnification hereunder Third Party (a “Third Party Claim”), in respect of which indemnity may be sought hereunder and shall give the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Indemnifying Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification information with respect theretothereto as the Indemnifying Party may reasonably request, provided that but failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties Party of their obligations under this Article X, except any liability hereunder (unless and to the extent, if at all, extent that the Indemnifying Parties Party has suffered material prejudice by such failure). The Indemnifying Party shall have been prejudiced thereby. the right, but not the obligation, exercisable by written notice to the Indemnified Party within twenty (b20) Upon days of receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that of the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions commencement of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control or assertion of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in assume the defense and control the settlement of any such Third Party Claim with its own counsel if and at its own expense; provided, that only if an (i) the Indemnifying Party is also subject acknowledges in writing its obligation to the Third Party Claim and counsel to indemnify the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party for any and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense all Losses arising out of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors (ii) such Third Party Claim involves (and consultants continues to involve) claims solely for money damages or involves (and continues to involve) claims for both money damages and equitable relief against the Indemnified Party that cannot be severed, where, in the reasonable good faith opinion of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in , the defense or settlement of such claims for money damages are the primary claims asserted by the Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claimclaims for equitable relief are incidental to the claims for money damages. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with In the event that the Indemnifying Parties in Party exercises its right to control the defense of any Third Party Claim defended as provided above, then the other Party shall cooperate in such defense and make available all witnesses, pertinent records, materials and information in such Party’s possession and control relating thereto as is reasonably required by the Indemnifying PartiesParty conducting the defense. (b) The Indemnifying Party or the Indemnified Party, as the case may be, shall have the right to participate in (but not control), at its own expense, the defense of any Third Party Claim that the other is defending, as provided in this Agreement. (c) The If the Indemnifying Parties Party has assumed the defense of any Third Party Claim as provided in this Agreement, the Indemnifying Party shall be authorized to not settle, enter into any compromise, consent to a settlement of, or consent to the entry of any judgment arising from, any such Third Party Claim, Claim without the consent of any Indemnified Party; but only if the Indemnifying Parties ’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed, unless (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with relates solely to monetary damages for which the effectiveness of such settlement; Indemnifying Party has acknowledged and accepted full responsibility to indemnify the Indemnified Party, and (ii) not encumber any the terms of the assets settlement include a full and unconditional release of the Indemnified Party and all of its Affiliates in respect of the subject matter of such Third Party Claim and all related claims and damages arising therefrom and no acknowledgement or acceptance of any fault or blame on the part of the Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or Party. In addition to the conduct of any foregoing, the Indemnifying Party shall not, without the Indemnified Party’s business; and prior written consent, enter into any compromise or settlement that (iiii) obtain, as a condition of any settlement or other resolution, a complete release of any commits the Indemnified Party potentially affected to take, or to forbear to take, any action, or (ii) does not provide for a full and unconditional release by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Asset Purchase Agreement (Akoustis Technologies, Inc.)

Third Party Claims. (a) In the event that any Person desires to make If a claim under Sections 10.2 or 10.3 in connection with by a third party is made against any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder Indemnified Party (a “Third Party Claim”), the Person or Persons entitled and if such Indemnified Party intends to indemnification hereunder (the “seek indemnity with respect thereto under this Article VIII, such Indemnified Party”) Party shall promptly notify the Indemnifying Party or Parties required of such Third Party Claim; provided, that the failure to provide indemnification hereunder so notify shall not relieve the Indemnifying Party of its obligations hereunder, except to the extent that the Indemnifying Party is actually and materially prejudiced thereby. The Indemnifying Party shall have three (3) Business Days after receipt of such notice to assume the conduct and control, through counsel reasonably acceptable to the Indemnified Party at the expense of the Indemnifying Party, of the settlement or defense of such Third Party Claim; provided, that the Indemnifying Party shall permit the Indemnified Party to participate in such settlement or defense through counsel chosen by such Indemnified Party; provided, that the fees and expenses of such counsel shall be borne by such Indemnified Party, and provided, further, that the Indemnifying Party shall not be entitled to assume control of such defense and shall pay the fees and expenses of counsel retained by the Indemnified Party if (i) such Third Party Claim for indemnification relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation against Purchasers; (ii) such Third Party Claim seeks an attachment (embargo) or other non-monetary relief against the Indemnified Party; (iii) the Indemnifying Party, in the reasonable judgment of the Indemnified Party, failed or is failing to vigorously prosecute or defend such Third Party Claim; (iv) no conflict of interest arises that prohibits, in the reasonable judgment of the Indemnified Party, a single counsel from representing both the Indemnifying Party and Indemnified Party in connection with the defense of such Third Party Claim; (v) the defense of such Third Party Claim and by the claim of indemnification with respect theretoIndemnifying Party will, provided that failure in the reasonable judgment of the Indemnified Party, have a material adverse effect on the Indemnified Party to give such prompt notice shall not relieve or any business thereof; or (vi) the Indemnifying Parties Party does not have sufficient financial resources, in the reasonable judgment of their obligations under this Article Xthe Indemnified Party, except to satisfy the extent, if at all, amount of any adverse monetary judgment that the Indemnifying Parties shall have been prejudiced therebyis reasonably likely to result. (b) Upon receipt If the Indemnifying Party has assumed the defense of notice from a Third Party Claim in accordance with Section 8.7(a), the Indemnified Party pursuant shall have the right to Section 10.5(a) employ separate counsel in any such action or claim and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim, but the fees and expenses of such counsel shall not be at the expense of the Indemnifying Party. So long as the Indemnifying Party assumes the defense of a Third Party Claim, neither the Indemnified Party nor the Indemnifying Party (except as provided in Section 8.7(d)) shall admit any liability with respect to, or settle, compromise or discharge, such Third Party Claim with without the other party's prior written consent (which consent shall not be unreasonably withheld, delayed or conditioned). Notwithstanding the preceding sentence, the Indemnified Party shall have the right, in its own counsel and sole discretion, to pay or settle any such Third Party Claim at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to provided that, in such event, the Indemnified Party reasonably determines shall waive any rights to indemnity hereunder in writing that a conflict or potential conflict exists between respect of the matter so settled without the Indemnifying Party's consent. (c) If the Indemnifying Party and does not notify the Indemnified Party, then Party within three (3) Business Days after the Indemnifying Parties shall be liable under this Article X for the fees receipt of the Indemnified Party’s counsel and any other expenses related to the defense notice of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any a Third Party Claim defended of indemnity hereunder that it elects to undertake the defense thereof, the Indemnified Party shall have the right to contest, settle or compromise the Third Party Claim but shall not thereby waive any right to indemnity therefor pursuant to this Agreement. (d) The Indemnifying Party shall not, except with the consent of the Indemnified Party (which consent shall not be unreasonably withheld, delayed or conditioned), enter into any settlement unless such settlement (i) is entirely indemnifiable by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized Party pursuant to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlementthis Article VIII; (ii) not encumber any includes as an unconditional term thereof the giving by the Person or Persons asserting such Third Party Claim to all Indemnified Parties of the assets an unconditional release from all liability with respect to such Third Party Claim or consent to entry of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s businessjudgment; and (iii) obtain, as a condition does not impose any injunctive relief or other restrictions of any settlement kind or other resolutionnature on any Indemnified Party. (e) The Indemnified Party shall make available records relating to such Third Party Claim and shall furnish, a complete release at the Indemnifying Party’s expense to the Indemnifying Party and/or its counsel, such employees of the Indemnified Party as may be reasonably necessary for the preparation of the defense of any Indemnified such Third Party potentially affected by Claim or for testimony as witnesses in any proceeding relating to such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Stock Purchase Agreement (Sherwin Williams Co)

Third Party Claims. (a) In the event that any Person desires to make case of a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party Indemnitor may, within twenty (20) days of receipt of a reasonable opportunity to participate in Claim Notice (the “Indemnity Notice Period”), assume the defense of such Third Party Claim with its own in which case the Indemnitor shall have the right to: (i) control and conduct any proceedings or negotiations in connection therewith and necessary or appropriate to defend the claim; (ii) take all other reasonable steps or proceedings to settle or defend any such Third Party Claim; provided, that the Indemnitor shall not settle any Third Party Claim without the prior written consent of the Indemnified Party (which consent shall not be unreasonably withheld, conditioned, or delayed, it being understood that such consent may be withheld in the Indemnified Party’s sole discretion if any such settlement does not include a complete written release of the Indemnified Party from further liability or imposes any injunctive relief or operational restrictions against such Indemnified Party); and (iii) employ counsel designated by the Indemnitor to contest any such Third Party Claim in the name of the Indemnified Party or otherwise. (b) Notwithstanding the foregoing, the Indemnitor shall not be entitled to undertake the defense of a Third Party Claim if: (i) such claim demands injunctive or other equitable relief material to the Indemnified Party; (ii) such claim involves a claim which would materially injure the Indemnified Party’s reputation, customer or supplier relations; or (iii) the Indemnitor fails diligently to defend such proceeding. (c) If the Indemnitor does not deliver to the Indemnified Party within the Indemnity Notice Period written notice that the Indemnitor shall assume the defense of any such Third Party Claim, then the Indemnified Party may defend against any such Third Party Claim in any such manner as it may deem appropriate and Losses of such Indemnified Party shall include the reasonable fees and disbursements of counsel for the Indemnified Party as incurred. If the Indemnified Party controls the defense of any such claim, the Indemnified Party shall: (i) provide to the Indemnitor information regarding the status of the claim as the Indemnitor may reasonably request; (ii) allow the Indemnitor to participate in (but not control) the defense of the claim at its own expense; (iii) promptly communicate to the Indemnitor all settlement offers given or received in the proceeding; provided, however, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to Indemnitor directs the Indemnified Party reasonably determines in writing to accept any monetary settlement offer that a conflict or potential conflict exists between the Indemnifying Party and does not impose any non-monetary obligations on the Indemnified Party, the Indemnitor agrees to be liable for such settlement, and the Indemnified Party refuses to accept such settlement offer, then the Indemnifying Parties Indemnitor’s liability for such claim shall be liable under this Article X for limited to the fees amount of such settlement offer; (iv) obtain the prior written consent of the Indemnified Party’s counsel Indemnitor (which shall not be unreasonably withheld, conditioned or delayed) before entering into any settlement of the claim; and any other expenses related to (v) reasonably cooperate with the Indemnitor in connection with such participation. (d) In the event that the Indemnitor does assume the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party Indemnitor shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall : (i) pay or cause provide to be paid all amounts arising out the Indemnified Party information regarding the status of such settlement or judgment concurrently with the effectiveness of such settlementclaim as the Indemnified Party may reasonably request; (ii) allow the Indemnified Party to participate in (but not encumber any control) the defense of the assets of any claim at its own expense; (iii) promptly communicate to the Indemnified Party all settlement offers given or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to received in the conduct of any Indemnified Party’s businessproceeding; and (iiiiv) obtain, as a condition of any settlement or other resolution, a complete release of any reasonably cooperate with the Indemnified Party potentially affected by in connection with such Third Party Claimparticipation. (de) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement The parties shall use commercially reasonable efforts with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect any information shared pursuant to such a claim anywhere in the worldthis Section 9.4 to preserve attorney-client privilege.

Appears in 1 contract

Sources: Stock Purchase Agreement (Creative Realities, Inc.)

Third Party Claims. (a) In the event that If any Person desires to make Claims Notice identifies a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder Liability Claim brought by a third party (a “Third Party Claim” and together with the Liability Claims, the “Claims”), then the Person or Persons entitled Indemnifying Party has the right, exercisable by written notice to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon within ten days after receipt of notice from the Indemnified Party pursuant such Claims Notice, to Section 10.5(a) assume and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in conduct the defense of such Third Party Claim in accordance with its own the limits set forth in this Agreement with counsel and at its own expense; provided, that if an selected by the Indemnifying Party and reasonably acceptable to the Indemnified Party; provided that (i) the defense of such Third Party Claim by the Indemnifying Party will not, in the reasonable judgment of the Indemnified Party, have a material adverse effect on the Indemnified Party; (ii) the Indemnifying Party has sufficient financial resources, in the reasonable judgment of the Indemnified Party, to satisfy the amount of any adverse monetary judgment that is also subject reasonably likely to result; (iii) the Third Party Claim solely seeks (and counsel continues to seek) monetary damages; and (iv) the Indemnified Indemnifying Party reasonably determines expressly agrees in writing that a conflict or potential conflict exists as between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under Party may only satisfy and discharge the Third Party Claim in accordance with the limits set forth in this Article X for Agreement (the fees of conditions set forth in clauses (i) through (iv) are, collectively, the Indemnified Party’s counsel and any other expenses related to “Litigation Conditions”). If the Indemnifying Party does not assume the defense of a Third Party Claim in accordance with this Section 7.2(b), then the Indemnified Party may continue to defend the Third Party Claim. Notwithstanding the foregoing, if (A) any of the Litigation Conditions cease to be met or (B) the Indemnifying Party fails to take reasonable steps necessary to defend diligently such Third Party Claim, the Indemnified Party may assume its own defense, and the Indemnifying Party will be liable for all reasonable costs or expenses paid or incurred in connection with such defense. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with Party or the Indemnified Party; shall take all steps necessary , as the case may be, has the right to participate in the defense or settlement of such Third Party Claim; and shall (but not control), at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shallits own expense, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by which the Indemnifying Parties. (c) other is defending as provided in this Agreement. The Indemnifying Parties shall be authorized to Party, if it has assumed the defense of any Third Party Claim as provided in this Agreement, may not, without the prior written consent of the Indemnified Party, consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim that (1) does not include as an unconditional term thereof the giving by the claimant or the plaintiff to the Indemnified Party a complete release from all liability in respect of such Third Party Claim, without (2) grants any injunctive or equitable relief or (3) may reasonably be expected to have a material adverse effect on the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any . The Indemnified Party or agree has the right to settle any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim, the defense of which has not been assumed by the Indemnifying Party. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Stock Purchase Agreement (Molycorp, Inc.)

Third Party Claims. (ai) In If any third party shall notify either Party (the event that “Indemnified Party”) with respect to any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder matter (a “Third Party Claim”), ) which may give rise to a claim for indemnification against the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the other Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) under this Article 12, then the Indemnified Party shall promptly (and in any event within ten (10) business days after receiving notice of the Third Party Claim) notify the Indemnifying Party thereof in writing; provided, however, that failure to give such notification shall not affect the indemnification provided hereunder except to the extent the Indemnifying Party shall have been actually and materially prejudiced as a result of such failure. (ii) The Indemnifying Party will have the right at any time to assume and thereafter conduct the defense of the Third Party Claim with counsel of his or its choice reasonably satisfactory to the Indemnified Party; provided, however, that the Indemnifying Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the Indemnified Party (not to be withheld or delayed unreasonably) unless the judgment or proposed settlement releases the Indemnified Party completely in connection with such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of would not otherwise adversely affect the Indemnified Party to give such prompt notice shall not relieve Party. Notwithstanding the Indemnifying Parties of their obligations under this Article Xforegoing, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject shall not be entitled to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended (and shall be liable for the reasonable fees and expenses of counsel incurred by the Indemnified Party in defending such Third Party Claim) if the Third Party Claim seeks an order, injunction or other equitable relief or relief for other than money damages against the Indemnified Party that the Indemnified Party reasonably determines, after conferring with its outside counsel, cannot be separated from any related claim for money damages. If such equitable relief or other relief portion of the Third Party Claim can be so separated from that for money damages, the Indemnifying PartiesParty shall be entitled to assume the defense of the portion relating to money damages. (ciii) The Unless and until the Indemnifying Parties shall be authorized to Party assumes the defense of the Third Party Claim as provided above, however, the Indemnified Party may defend against the Third Party Claim in any manner it reasonably may deem appropriate. Notwithstanding the above, the Indemnified Party will not consent to a settlement of, or the entry of any judgment arising from, or enter into any settlement with respect to the Third Party Claim, Claim without the prior written consent of any Indemnified Party; but only if the Indemnifying Parties shall Party (i) pay or cause not to be paid all amounts arising out of such settlement withheld or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claimdelayed unreasonably). (div) Each The Party defending a Third Party Claim shall conduct the defense actively and diligently, and all Parties shall cooperate in the defense of such claim. Such cooperation shall include the Parties hereby consents provision and access to the nonexclusive jurisdiction defending Party of any court in which a proceeding in respect of a Third-documents, information, books and records reasonably requested by the defending Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect and material to such proceeding or the matters alleged therein claim, and agree that process making available employees as may be served on a reasonably requested by the Party defending such claim and as shall be reasonably required in connection with respect to the defense of such a claim anywhere in the worldand litigation resulting therefrom.

Appears in 1 contract

Sources: Stock Purchase Agreement (Federal Signal Corp /De/)

Third Party Claims. (a) In If any claim is made or proceeding is instituted by any third Person in respect of which the event that any Person desires to make Indemnified Party may seek recovery hereunder (other than a Tax Controversy, procedures for which are set out in Section 7.9 or a claim under Sections 10.2 clause (iv), (v) or 10.3 in connection with any action(vi) of Section 10.2, suit, proceeding, or demand at any time instituted against or made upon any Person procedures for which such Person may seek indemnification hereunder are set out in Section 10.12) (a “Third Party Claim”"THIRD-PARTY CLAIM"), the Person or Persons entitled Indemnified Party shall give written notice thereof to the Indemnifying Party, describing in reasonable detail the nature of the Third-Party Claim, within fifteen (15) days after receipt by the Indemnified Party of notice of the Third-Party Claim; PROVIDED, HOWEVER, that the failure to give timely notice shall not affect the rights to indemnification hereunder (to the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of extent the Indemnified Party demonstrates that the Indemnifying Party suffered no actual damage as a result of such failure; PROVIDED FURTHER, that, in the event of such failure to give timely notice, the Indemnifying Party shall not be liable for any expenses incurred during the period in which the Indemnified Party failed to give such prompt notice notice. Thereafter, the Indemnified Party shall not relieve deliver to the Indemnifying Parties Party, promptly after the Indemnified Party's receipt thereof, copies of their obligations under this Article Xall notices and documents, except to including citations, summons and similar court papers, received by the extent, if at all, that Indemnified Party in respect of the Indemnifying Parties shall have been prejudiced therebyThird-Party Claim. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the The Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity be entitled to participate in the defense defence of such Third any Third-Party Claim and, if it so chooses, to assume the defence thereof with counsel of its own counsel and at its own expense; provided, that if an choice. If the Indemnifying Party is also subject so elects to assume the Third defence of a Third-Party Claim and counsel Claim, the Indemnifying Party shall not be liable to the Indemnified Party reasonably determines for any legal expenses subsequently incurred by the Indemnified Party in writing that a conflict or potential conflict exists between connection with the defence thereof (but the Indemnifying Party and shall be so liable for such legal expenses incurred from the Indemnified Party, then date the Indemnifying Parties shall be liable under this Article X for the fees Party receives notice of the Indemnified Party’s counsel and any other expenses related Third-Party Claim pursuant to Paragraph (a) above to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with date the Indemnifying Parties in Party assumes the defense of any Third Party Claim defended by the Indemnifying Partiesdefence thereof pursuant to this Paragraph (b)). (c) The Indemnifying Parties Indemnified Party shall be authorized entitled to consent to a settlement of, or participate in the entry defence of any judgment arising from, any Third Third-Party Claim, without the consent defence of which has been assumed by the Indemnifying Party, and to employ counsel, at its own expense, separate from the counsel employed by the Indemnifying Party. Notwithstanding the foregoing, the Indemnifying Party shall at all times control the defence of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Third-Party Claim. (d) Each If the Indemnifying Party chooses to defend or prosecute a Third-Party Claim, the Indemnified Party shall, at its own cost, cooperate in all reasonable respects in the investigation, trial and defence thereof and in connection with any appeal arising therefrom. Without limiting the generality of the Parties hereby consents foregoing, the Indemnified Party shall retain and, upon the Indemnifying Party's request, provide to the nonexclusive jurisdiction Indemnifying Party copies of all records and information which are reasonably relevant to such Third-Party Claim, and make employees available on a mutually convenient basis to provide additional information and explanation of any court material furnished hereunder. (e) If the Indemnifying Party chooses to defend or prosecute any Third-Party Claim, the Indemnified Party will agree to any settlement, compromise or discharge of such Third-Party Claim which the Indemnifying Party may recommend and which by its terms obligates the Indemnifying Party to pay to the Indemnified Party the full amount of the liability in connection with such Third Party Claim. If the proposed settlement, compromise or discharge does not require full payment of such liability to the Indemnified Party, the Indemnified Party shall have the right to consent to such settlement, compromise or discharge (which a proceeding in respect consent shall not be unreasonably withheld or delayed). (f) Whether or not the Indemnifying Party shall have assumed the defence of a Third-Party Claim is brought against any Superior Claim, the Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of shall not admit any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement liability with respect to to, or settle, compromise or discharge, such proceeding Third-Party Claim without the Indemnifying Party's prior written consent (which consent shall not be unreasonably withheld or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worlddelayed).

Appears in 1 contract

Sources: Purchase Agreement (Abb LTD)

Third Party Claims. (a) In If a Third Party Claim is brought against an Indemnified Party and it gives notice to the event that any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which Indemnifying Party of the commencement of such Person may seek indemnification hereunder (a “Third Party Claim”), the Person or Persons Indemnifying Party will be entitled to indemnification hereunder participate in such Third Party Claim and, unless the claim involves Taxes, to the extent that it wishes (unless (i) the “Indemnified Party”) shall promptly notify the Indemnifying Party or Parties required is also a party to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim Indemnified Party determines in good faith that joint representation would be inappropriate, or (ii) the Indemnifying Party fails to provide reasonable assurance to the Indemnified Party of its financial capacity to defend such Third Party Claim and provide indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim), but shall allow the Indemnified Party a reasonable opportunity to participate in assume the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel reasonably satisfactory to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between and, after notice from the Indemnifying Party and to the Indemnified PartyParty of its election to assume the defense of such Third Party Claim, then the Indemnifying Parties shall Party will not, as long as it diligently conducts such defense, be liable to the Indemnified Party under this Article X Section 10 for the any fees of the Indemnified Party’s other counsel and or any other expenses related with respect to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation in each case subsequently incurred by the Indemnified Party in connection with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim, other than reasonable costs of investigation. If the Indemnifying Party assumes the defense of a Third Party Claim, (i) it will be conclusively established for purposes of this Agreement that the claims made in that Third Party Claim are within the scope of and subject to indemnification; (ii) no compromise or settlement of such claims may be effected by the Indemnifying Party without the Indemnified Party's consent unless (A) there is no finding or admission of any violation of any Regulation or any violation of the rights of any Person and no effect on any other claims that may be made against the Indemnified Party, and (B) the sole relief provided is monetary damages that are paid in full by the Indemnifying Party; and shall at all times diligently (iii) the Indemnified Party will have no liability with respect to any compromise or settlement of such claims effected without its consent. If notice is given to an Indemnifying Party of the commencement of any Third Party Claim and promptly pursue the resolution Indemnifying Party does not, within ten business days after the Indemnified Party's notice is given, give notice to the Indemnified Party of its election to assume the defense of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties Party will be bound by any determination made in the defense of any such Third Party Claim defended or any compromise or settlement effected by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Stock Purchase Agreement (Afc Enterprises Inc)

Third Party Claims. (a) In the event that any Person desires to make an Indemnified Party becomes aware of a third party claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”)) that the Indemnified Party reasonably believes may result in a demand against the Indemnity Escrow Amount pursuant to this ‎Article VII, the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) Parent shall promptly notify the Party or Parties required to provide indemnification hereunder (Representative of such claim. The Representative may, at the “Indemnifying Party”) Representative’s election, undertake and actively and diligently conduct the defense of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice Parent shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity be entitled to participate in the defense of such Third Party Claim Claim. The Representative shall consult with its own counsel and at its own expense; providedParent regarding the strategy for defense of such claim, that including with respect to the Representative’s choice of legal counsel. Notwithstanding the foregoing, the Representative shall not have the right to assume control of such defense if an Indemnifying Party is also subject to the Third Party Claim and counsel which the Representative seeks to assume control (i) seeks non-monetary relief, (ii) involves criminal or quasi-criminal allegations, (iii) involves a claim which, if adversely, determined, would be reasonably expected to establish a precedent, custom or practice materially adverse to the continuing business interests or prospects of the Indemnified Party reasonably determines or the Surviving Corporation, (iv) involves a claim that, in writing that a conflict or potential conflict exists between the Indemnifying Party and good faith judgment of the Indemnified Party, the Representative failed or is failing to vigorously prosecute or defend, (v) seeks Losses in excess of the then remaining Indemnity Escrow Amount, or (vi) is or will be defended under the Indemnifying Parties R&W Insurance Policy. (b) The Representative shall be liable under this Article X for not consent to the fees entry of any judgment, admit any liability with respect to, or settle, or compromise or discharge any Third Party Claim without the prior written consent of the Indemnified Party’s counsel ; provided that the Indemnified Party shall agree to any such entry of judgement, admission of liability, settlement, compromise or discharge of a Third Party Claim that the Representative may recommend if and only if: (i) such settlement involves solely money damages having a value less than the remaining amount of the Indemnity Escrow Amount, (ii) the Representative acknowledges that such money damages are Losses recoverable from the Indemnity Escrow Amount, (iii) releases the Indemnified Party from all liability and obligations with respect thereto, (iv) does not contain any sanction or restriction and does not impose any injunction or other expenses related equitable remedies on the Indemnified Party or its business that would be reasonably likely to have a material adverse impact on the Indemnified Party or its business, and (v) does not include a finding or admission of violation of Legal Requirements by the Indemnified Party or any of its Affiliates or representatives. (c) If the Representative does not so elect to undertake and conduct the defense of such Third Party Claim. The Indemnifying Parties , Parent shall select undertake the defense of and use all reasonable efforts to defend such claim and shall consult with the Representative regarding the strategy for defense of such claim, including with respect to Parent’s choice of legal counsel, contractors and consultants of recognized standing and competence after consultation provided however, that Parent shall have the right in its reasonable discretion to settle any such claim; provided, further, that except with the Indemnified Party; shall take all steps necessary in consent of the defense or Representative, no settlement of any such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully Claim with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties third party claimants shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any determinative of the assets amount of any Indemnified Party or agree Losses relating to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claimmatter. (d) Each of the Parties hereby consents Notwithstanding anything to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Partycontrary set forth herein, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein parties acknowledge and agree that process may the provisions hereof dealing with Third Party Claims shall be served on a Party with respect subject to such a claim anywhere in the worldterms and conditions of the R&W Insurance Policy and the rights of the insurer thereunder to, among other things, consent to any settlement thereof.

Appears in 1 contract

Sources: Merger Agreement (Allegro Microsystems, Inc.)

Third Party Claims. (a) In the event that any Person party desires to make a claim under Sections 10.2 9.2 or 10.3 9.3 in connection with any action, suit, proceedingProceeding, or demand at any time instituted against or made upon any Person party for which such Person party may seek indemnification hereunder (a “Third Third-Party Claim”), the Person party or Persons parties entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party party or Parties parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Third-Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article XIX, except to the extent, if at all, that the Indemnifying Parties shall have been materially prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X9.5(a), the Indemnifying Parties will, subject to the provisions of Section 10.5(c9.5(c), assume the defense and control of such Third Third-Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Third-Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Third-Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X IX for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Third-Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Third-Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Third-Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Third-Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Third-Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Third-Party Claim. (d) Each of the Parties Seller and Purchaser each hereby consents to the nonexclusive jurisdiction of any court in the continental United States of America in which a proceeding Proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party Purchaser Indemnitee or Dynamic Indemnified PartySeller Indemnitee, as applicable, for purposes of any claim that a Superior Indemnified Party Purchaser Indemnitee or Dynamic Indemnified PartySeller Indemnitee, as applicable, may have under this Agreement with respect to such proceeding Proceeding or the matters alleged therein and agree that process may be served on a Party Seller or Purchaser, as applicable, with respect to such a claim anywhere in the worldclaim.

Appears in 1 contract

Sources: Asset Purchase Agreement (Gulf Island Fabrication Inc)

Third Party Claims. (a) In the event that any Person desires to make of a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but the Indemnifying Party shall allow the Indemnified Party a reasonable opportunity be entitled to participate in assume and control the defense of such Third Party Claim with its own and to appoint counsel and of the Indemnifying Party's choice at its own expense; provided, that if an the expense of the Indemnifying Party is also subject to represent the Indemnified Party and any others the Indemnifying Party may reasonably designate in connection with such Third Party Claim (in which case the Indemnifying Party shall not thereafter be responsible for the fees and expenses of any separate counsel retained by any Indemnified Party except as set forth below); provided that such counsel is reasonably acceptable to the Indemnified Party, which approval shall not be unreasonably withheld. The Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between shall cooperate with the Indemnifying Party and its counsel in such defense and make available to the Indemnifying Party all witnesses, records, materials, and information in the Indemnified Party, then the Indemnifying Parties shall be liable 's possession or under this Article X for the fees of the Indemnified Party’s counsel 's control relating thereto as may be reasonably requested by the Indemnifying Party, and in contesting any other expenses Action which the Indemnifying Party defends, or, if appropriate and related to the Action in question, in making any counterclaim against the Person asserting the Third Party Claim, or any cross-complaint against any Person. In the event the Indemnifying Party fails to assume the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants Claim within ten (10) days after receipt of recognized standing and competence after consultation notice thereof in accordance with the terms hereof, (1) the Indemnified Party; Party against which such Third Party Claim has been asserted shall take all steps necessary in have the defense right to undertake the defense, compromise or settlement of such Third Party Claim; Claim on behalf of, at the expense of and shall at all times diligently for the account and promptly pursue risk of the resolution of such Third Indemnifying Party, and (2) the Indemnifying Party Claim. The agrees to cooperate with the Indemnified Party shall, in such defense and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or make available to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, all witnesses, records, materials and information in the Indemnifying Party's possession or under the Indemnifying Party's control relating thereto as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic may be reasonably requested by the Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Purchase Agreement (Williams Companies Inc)

Third Party Claims. (a) In the event that If any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceedingThird-Party Claims shall be commenced, or any claim or demand at any time instituted against shall be asserted (other than audits or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”contests with Taxing Authorities relating to Taxes), in respect of which the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Indemnifying Party or Parties required is obligated to provide indemnification under Sections 10.2(a) or 10.2(b), as the case may be, then the Indemnified Party shall notify the Indemnifying Party in writing of such demand within thirty (30) days of receipt, setting forth in reasonable detail the basis for the claim and a reasonable estimate of the amount of such claim and/or Losses sustained, if estimable. The Indemnifying Party shall have the right to participate in, or by giving written notice to the Indemnified Party, to assume the entire control of the defense, compromise or settlement of the Third-Party Claim for which indemnification is available hereunder (including the selection of counsel), and the Indemnified Party shall cooperate in good faith in such defense. The Indemnifying Party”) of Party shall have the right to take such Third action as it deems necessary to avoid, dispute, defend, appeal or make counterclaims pertaining to any such Third-Party Claim in the name and the claim of indemnification with respect thereto, provided that failure on behalf of the Indemnified Party. The Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) right, at its own cost and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article Xexpense, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third any Third-Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also selected by it subject to the Third Indemnifying Party's right to control the defense thereof. The Indemnifying Party Claim shall have the right to settle and counsel to compromise such claim only with the prior written consent of the Indemnified Party reasonably determines in writing that a conflict (which consent shall not be unreasonably withheld or potential conflict exists between the Indemnifying Party and the Indemnified Partydelayed), then the Indemnifying Parties shall be liable under this Article X for the fees provided, however, such consent of the Indemnified Party’s counsel and any other expenses related to the defense of Party is not required where: (i) such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with settlement provides the Indemnified Party; shall take all steps necessary in the defense or settlement of Party with a complete and unconditional release from such Third Third-Party Claim; and shall at all times diligently and promptly pursue (ii) the resolution of sole relief provided in such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties settlement is monetary damages that are satisfied in the defense of any Third Party Claim defended full or assumed by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition such settlement does not include any finding or admission of any settlement violation of Law or other resolution, a complete release admission of wrongdoing on the part of any Indemnified Party. The Indemnified Party potentially affected by will cooperate with and make available to the Indemnifying Party such Third assistance (including access to employees) and books, records and other materials as may be reasonably requested. If the Indemnifying Party elects not to defend or settle such Third-Party Claim or fails to notify the Indemnified Party in writing of the Third-Party Claim as provided in this Section 10.3, then the Indemnified Party may defend such Third-Party Claim and seek indemnification for any Losses based upon, arising from or relating to such Third-Party Claim. (d) Each of . If the Parties hereby consents to Indemnified Party has assumed the nonexclusive jurisdiction of any court in which a proceeding in respect defense of a Third-Party Claim is brought against Claim, it shall not agree to any Superior Indemnified settlement without the written consent of the Indemnifying Party (which consent shall not be unreasonably withheld, conditioned or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worlddelayed).

Appears in 1 contract

Sources: Membership Unit Purchase Agreement (NovaBay Pharmaceuticals, Inc.)

Third Party Claims. The obligations and liabilities of the parties hereto with respect to their respective indemnities pursuant to this Article XI, resulting from any Third Party Claim shall be subject to the following terms and conditions: (a) In The party seeking indemnification (the event that "Indemnified Party") must give the other party (the "Indemnifying Party"), notice of any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”)Claim which is asserted against, resulting to, imposed upon or incurred by the Person Indemnified Party and which may give rise to liability of the Indemnifying Party pursuant to this Article XI, stating (to the extent known or Persons entitled to indemnification hereunder (reasonably anticipated) the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) nature and basis of such Third Party Claim and the claim of indemnification with respect thereto, amount thereof; provided that the failure to give such notice shall not affect the rights of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, hereunder except to the extent, if at all, extent (i) that the Indemnifying Parties Party shall have been prejudiced therebysuffered actual material damage by reason of such failure, or (ii) such failure or delay materially adversely affects the ability of the Indemnifying Party to defend, settle or compromise such Third Party Claim. (b) Upon receipt of notice from the Indemnified Party pursuant Subject to Section 10.5(a11.4(c) and provided that below, if the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control assumes responsibility for Losses arising out of such Third Party Claim, but then the Indemnifying Party shall allow have the Indemnified Party a reasonable opportunity right to participate in undertake, by counsel or other representatives of its own choosing, the defense of such Third Party Claim with its own counsel at the Indemnifying Party's risk and at its own expense; provided, . (c) In the event that if an (i) the Indemnifying Party is also subject shall elect not to the Third Party Claim and counsel to undertake such defense, (ii) within a reasonable time after notice from the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The , the Indemnifying Parties Party shall select counselfail to undertake to defend such Third Party Claim, contractors (iii) there is a reasonable probability that such Third Party Claim may materially and consultants of recognized standing and competence after consultation with adversely affect the Indemnified Party other than as a result of money damages or other money payments, or (iv) there is a reasonable probability that the amount of Losses - 41 - 50 asserted under such Third Party Claim may exceed the Indemnifying Party; 's obligations under this Article XI, then the Indemnified Party (upon further written notice to the Indemnifying Party) shall take all steps necessary in have the defense right to undertake the defense, compromise or settlement of such Third Party Claim; , by counsel or other representatives of its own choosing, on behalf of and for the account and risk of the Indemnifying Party. In the event that the Indemnified Party undertakes the defense of a Third Party Claim under this Section 11.4(c), the Indemnifying Party shall at pay to the Indemnified Party, in addition to the other sums required to be paid hereunder, the reasonable costs and expenses incurred by the Indemnified Party in connection with such defense, compromise or settlement as and when such costs and expenses are so incurred. (d) Anything in this Section 11.4 to the contrary notwithstanding, (i) neither Party shall, without the other party's written consent (which consent shall not be unreasonably withheld or delayed), settle or compromise such Third Party Claim or consent to entry of any judgment which does not include as an unconditional term thereof the giving by the claimant or the plaintiff to the Indemnified Party of a release from all times diligently and promptly pursue the resolution liability in respect of such Third Party Claim. The Indemnified Party shall, Claim in form and shall cause each of its Affiliates and representatives to, cooperate fully with substance satisfactory to the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any in the event that a party hereto undertakes defense of such Third Party Claim in accordance with this Section 11.4, the assets other parties, by counsel or other representative of any Indemnified Party their own choosing and at their sole cost and expense, shall have the right to participate in the defense, compromise or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to settlement thereof and each party and its counsel and other representatives shall cooperate with the conduct of any Indemnified Party’s businessother party and its counsel and representatives in connection therewith; and (iii) obtain, as a condition the party that undertakes the defense of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party ClaimClaim in accordance with this Section 11.4, shall have an obligation to keep the other parties informed of the status of the defense of such Third Party Claim and furnish the other parties with all documents, instruments and information that the other parties shall reasonably request in connection therewith. (de) Each of the Parties hereby consents Any claim for indemnification under this Article XI must be made (i) on or prior to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, Claims Deadline (as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere defined in the worldEscrow Agreement) for any claims against the Escrow Stock, and (ii) on or prior to eighteen (18) months after the Effective Time otherwise.

Appears in 1 contract

Sources: Merger Agreement (Proxicom Inc)

Third Party Claims. Except as provided otherwise in Section 6.10(b), the obligations and liabilities of an Indemnifying Party with respect to Losses resulting from the assertion of liability by third parties (each, a “Third-Party Claim”) shall be subject to the following terms and conditions: (a) In The Indemnified Parties shall promptly give written notice to the event Indemnifying Parties of any Third-Party Claim that might give rise to any Person desires Loss by the Indemnified Parties, stating the nature and basis of such Third-Party Claim, and the amount thereof to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceedingthe extent known, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”)good-faith reasonable estimate of the Losses, and the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) method of computation of such Third Party Claim and Losses; provided, however, that so long as such written notice is given on or prior to the claim time of indemnification with respect theretoexpiration of the relevant representation, provided that failure warranty or covenant as set forth in Section 10.01, no delay on the part of the Indemnified Party to give such prompt notice in so notifying the Indemnifying Party shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that Party from any obligation hereunder unless the Indemnifying Parties Party is materially prejudiced thereby. Such notice shall be accompanied by copies of all relevant documentation with respect to such Third-Party Claim, including any summons, complaint or other pleading that may have been prejudiced therebyserved, any written demand or any other document or instrument. (b) Upon From and after receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought pursuant to Section 10.03(a), the Indemnifying Parties shall have the right to assume and conduct, at their own expense, the defense against the Third-Party Claim in their own names or in the names of the Indemnified Parties. Any Indemnified Parties shall have the right to employ separate counsel in any Superior such Third-Party Claim and/or to participate in the defense thereof, but the fees and expenses of such counsel shall not be included as part of any Loss incurred by the Indemnified Party and shall not be payable by the Indemnifying Parties. The Party or Dynamic Indemnified Party, as applicable, for purposes Parties conducting the defense of any claim that a Superior Indemnified Third-Party Claim shall keep the other Parties apprised of all significant developments with respect thereto and shall not enter into any settlement, compromise or Dynamic Indemnified Party, as applicable, may have under this Agreement consent to judgment with respect to such proceeding Third-Party Claim without the prior written consent of the other Parties hereto, such consent not to be unreasonably withheld, conditioned or delayed; provided, however, that the matters alleged therein and agree that process may Indemnifying Party shall be served on entitled to settle, compromise or consent to a judgment without the consent of the Indemnified Party with respect to a Third-Party Claim that only imposes monetary obligations that are paid by the Indemnifying Party and contains a release of the Indemnified Party from all liability thereunder. The Indemnified Party shall make available all information and assistance reasonably available and necessary for the defense of the Third-Party Claim as the Indemnifying Party may reasonably request and shall cooperate with the Indemnifying Party in such a claim anywhere in defense. The Unitholder Representative shall be the worldsole party entitled to exercise any rights of the Unitholders with respect to Third-Party Claims under this Section 10.03.

Appears in 1 contract

Sources: Agreement and Plan of Merger (Anika Therapeutics, Inc.)

Third Party Claims. The obligations and liabilities of the parties hereto with respect to their respective indemnities pursuant to this Article X, resulting from any --------- Third Party Claim shall be subject to the following terms and conditions: (a) In The party seeking indemnification (the event that "Indemnified Party") must ----------------- give the other party (the "Indemnifying Party"), notice of any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”)Claim ------------------ which is asserted against, resulting to, imposed upon or incurred by the Person Indemnified Party and which may give rise to liability of the Indemnifying Party pursuant to this Article X, stating (to the extent known or Persons entitled to indemnification hereunder (reasonably --------- anticipated) the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) nature and basis of such Third Party Claim and the claim of indemnification with respect thereto, amount thereof; provided that the failure to give such notice shall not affect the -------- rights of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, hereunder except to the extent, if at all, extent (i) that the Indemnifying Parties Party shall have been prejudiced therebysuffered actual damage by reason of such failure, or (ii) such failure or delay materially adversely affects the ability of the Indemnifying Party to defend, settle or compromise such Third Party Claim. (b) Upon receipt of notice from the Indemnified Party pursuant Subject to Section 10.5(a10.3(c) and provided that below, if the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control --------------- assumes responsibility for Losses arising out of such Third Party Claim, but then the Indemnifying Party shall allow have the Indemnified Party a reasonable opportunity right to participate in undertake, by counsel or other representatives of its own choosing, the defense of such Third Party Claim with its own counsel at the Indemnifying Party's risk and at its own expense; provided, . (c) In the event that if an (i) the Indemnifying Party is also subject shall elect not to the Third Party Claim and counsel to undertake such defense, (ii) within a reasonable time after notice from the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The , the Indemnifying Parties Party shall select counselfail to undertake to defend such Third Party Claim, contractors (iii) there is a reasonable probability that such Third Party Claim may materially and consultants of recognized standing and competence after consultation with adversely affect the Indemnified Party other than as a result of money damages or other money payments, or (iv) there is a reasonable probability that the amount of Losses asserted under such Third Party Claim may exceed the Indemnifying Party; 's obligations under this Article X, then the Indemnified Party (upon further --------- written notice to the Indemnifying Party) shall take all steps necessary in have the defense right to undertake the defense, compromise or settlement of such Third Party Claim; , by counsel or other representatives of its own choosing, on behalf of and for the account and risk of the Indemnifying Party. In the event that the Indemnified Party undertakes the defense of a Third Party Claim under this Section 10.3(c), the Indemnifying --------------- Party shall at pay to the Indemnified Party, in addition to the other sums required to be paid hereunder, the reasonable costs and expenses incurred by the Indemnified Party in connection with such defense, compromise or settlement as and when such costs and expenses are so incurred. (d) Anything in this Section 10.3 to the contrary notwithstanding, (i) ------------ neither Party shall, without the other party's written consent (which consent shall not be unreasonably withheld or delayed), settle or compromise such Third Party Claim or consent to entry of any judgment which does not include as an unconditional term thereof the giving by the claimant or the plaintiff to the Indemnified Party of a release from all times diligently and promptly pursue the resolution liability in respect of such Third Party Claim. The Claim in form and substance satisfactory to the Indemnified Party; (ii) in the event that a party hereto undertakes defense of such Third Party shallClaim in accordance with this Section 10.3, the other parties, by counsel or other ------------ representative of their own choosing and at their sole cost and expense, shall cause have the right to participate in the defense, compromise or settlement thereof and each of party and its Affiliates counsel and other representatives shall cooperate with the other party and its counsel and representatives to, cooperate fully with in connection therewith; and (iii) the Indemnifying Parties in party that undertakes the defense of such Third Party Claim in accordance with this Section 10.3 shall have an obligation to keep the other ------------ parties informed of the status of the defense of such Third Party Claim and furnish the other parties with all documents, instruments and information that the other parties shall reasonably request in connection therewith; provided, -------- however, Acquiror shall have the absolute right to settle or compromise any ------- Sales Tax Matter relating to sales previously made to the customer identified in item E and F of Schedule 3.6(b) after the eighteenth month from the date hereof. --------------- (e) Anything in this Section 10.3 to the contrary notwithstanding, the ------------ Stockholder's Representative on behalf of the Company Common Stockholders shall be permitted to negotiate, settle or compromise or otherwise dispose of any Third Party Claim defended that relates to an Identified Liability (other than the Sales Tax Matter relating to sales previously made to the customer identified in item E and F of Schedule 3.6(b) after the eighteenth month from the date hereof); --------------- provided, however, the Losses for all such matters do not exceed the fair market -------- ------- value of the Escrow Stock then held by the Indemnifying PartiesEscrow Agent. The reasonable expenses necessary to settle the Third Party Claims and Identified Liabilities which are incurred after the Effective Time shall include the reasonable expenses of the Stockholder's Representative and his or her accountant and legal counsel in resolving such claims, which such expenses shall initially be paid by the Surviving Corporation and then reimbursed to the Surviving Corporation by the Escrow Agent from the Escrow Stock. (cf) The Indemnifying Parties parties acknowledge the existence of certain potential liabilities relating to the Sales Tax Matters. The parties further agree that Acquiror shall have the absolute right to resolve such issues with the respective customer and/or governmental entities relating to sales previously made to the customer identified in item E and F of Schedule 3.6(b) after the --------------- eighteenth month from the date hereof and that Acquiror shall be authorized entitled to consent indemnification with respect to a settlement of, any Losses resulting from or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claimforegoing. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Merger Agreement (Itc Deltacom Inc)

Third Party Claims. (a) In the event that any Person desires to make Section 7.3.1 If a claim under Sections 10.2 or 10.3 in connection with any claim, action, suit, proceeding, suit or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder other proceeding by a third party (a “Third Party Claim”), the ) is made against any Person or Persons entitled to indemnification hereunder or reimbursement pursuant to Section 7.2 (the an “Indemnified Party”) ), and if such Indemnified Party intends to seek indemnity or reimbursement with respect thereto under this Article VII, such Indemnified Party shall promptly notify provide written notice to the party obligated to indemnify such Indemnified Party or Parties required to provide indemnification hereunder (such notified party, the “Indemnifying Responsible Party”) of such claims; provided, that the failure to so notify shall not relieve the Responsible Party of its obligations hereunder, except to the extent that the Responsible Party is actually and materially prejudiced thereby. Such notice shall provide in reasonable detail, to the extent known, the basis of such claim (with reference to the specific provision of this Agreement) under which indemnification or reimbursement is sought pursuant to Section 7.2 and enclose true, correct and complete copies of any written document furnished to the Indemnified Party by the Person that instituted the Third Party Claim. Section 7.3.2 The Responsible Party shall have the right to elect to control the defense or prosecution of any Third Party Claim in respect of which indemnity or reimbursement may be sought hereunder and shall furnish to the Indemnified Party such records, information and testimony, and shall permit such Indemnified Party the opportunity to attend such conferences, discovery proceedings, hearings, trials and appeals, as may be reasonably requested by such Indemnified Party in connection therewith. Section 7.3.2.1 The Responsible Party shall have twenty (20) days the receipt of the Indemnified Party’s notice of a claim of indemnity hereunder to assume the conduct and control, through counsel reasonably acceptable to the Indemnified Party at the expense of the Responsible Party (it being understood and agreed by Seller that O▇▇▇▇▇, H▇▇▇▇▇▇▇▇▇ & S▇▇▇▇▇▇▇▇ LLP is deemed reasonably acceptable counsel), of the settlement or defense thereof, and the claim of indemnification Indemnified Party shall cooperate with respect theretoit in connection therewith; provided, provided that failure of the Responsible Party shall permit the Indemnified Party to give participate in such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article Xsettlement or defense through counsel chosen by such Indemnified Party, except to the extent, if at all, it being understood and agreed that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) fees and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control expenses of such Third Party Claim, but counsel shall allow the be borne by such Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expenseParty; provided, that however, such fees and expenses of the Indemnified Party's counsel shall be borne by the Responsible Party if an Indemnifying Party is also subject to in the Third Party Claim and reasonable opinion of counsel to the Indemnified Party reasonably determines in writing that Party, a conflict or potential conflict exists between the Indemnifying such Indemnified Party and such Responsible Party that would make separate representation advisable. Section 7.3.2.2 If the Responsible Party does not notify the Indemnified Party, then Party within twenty (20) days after the Indemnifying Parties shall be liable under this Article X for the fees receipt of the Indemnified Party’s counsel notice of a claim of indemnity hereunder that it elects to undertake the defense thereof, the Indemnified Party shall have the right to contest, settle or compromise the claim but shall not thereby waive any right to indemnity or reimbursement therefor pursuant to this Agreement. Section 7.3.2.3 If the Responsible Party elects not to assume the defense thereof, fails to timely and properly notify the Indemnified Party of its election as herein provided, or, at any other expenses related time after assuming such defense, fails to diligently defend against such Third-Party Claim in good faith, or if such Indemnified Party is otherwise entitled pursuant to this Agreement to have control over the defense of any Third-Party Claim, such Indemnified Party may, at such Responsible Party’s expense, pay, defend, settle, or compromise such asserted claim (but such Responsible Party shall nevertheless be required to pay in accordance with this Agreement any Losses incurred by such Indemnified Party in connection with such payment, defense, settlement, or compromise thereof which are indemnifiable in accordance with this Article VII). Section 7.3.2.4 Notwithstanding anything herein to the defense contrary, the Responsible Party shall not be entitled to have sole control over (and if it so desires, the Indemnified Party shall have sole control over) the defense, settlement, adjustment, or compromise of (but such Responsible Party shall nevertheless be required to pay in accordance with this Agreement all Losses incurred by the Indemnified Party in connection with the defense, settlement, or compromise thereof) (i) any Third-Party Claim that primarily seeks an order, injunction or other equitable relief against any Indemnified Party or any of its Affiliates, (ii) any Third-Party Claim that is reasonably expected to result in damages greater than 120% of the amount of the Indemnity Escrow Funds, (iii) the Third-Party Claim is on behalf of a Material Customer, and (iv) any criminal proceeding, indictment or allegation. Section 7.3.2.5 No Responsible Party will, without the prior written consent of each such Indemnified Party, settle or compromise or consent to the entry of any judgment in any Third Party Claim in respect of which indemnification may be sought hereunder (whether or not any such Indemnified Party is a party to such action), unless such settlement, compromise or consent by its terms obligates such Responsible Party to pay the full amount of the Losses in connection with such Third-Party Claim and includes an unconditional release of all such Indemnified Parties from all liability arising out of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Stock Purchase Agreement (Ani Pharmaceuticals Inc)

Third Party Claims. (a) In the event that any Claim is asserted by a Person desires not a party to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder this Agreement (a “Third Third-Party Claim”)) against an Indemnified Party, the Person or Persons entitled Indemnifying Party will have thirty (30) days from the date on which the Indemnifying Party receives the Claims Notice with respect to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Third-Party Claim and the claim of indemnification with respect thereto, provided that failure of to notify the Indemnified Party to give such prompt notice shall not relieve in writing whether the Indemnifying Parties Party will, at the Indemnifying Party’s sole cost and expense, assume the defense or prosecution of their obligations under this Article Xthe Third-Party Claim; provided, except to the extent, if at allhowever, that the Indemnifying Parties Party shall have been prejudiced thereby. not be entitled to assume the defense of a Third-Party Claim if (bA) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms fails to respond, and confirm in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article Xthat, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists as between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties Party shall be liable under this Article X for solely obligated to satisfy and discharge the fees Third-Party Claim, to the Claims Notice within thirty (30) calendar days from the date on which the Indemnifying Party receives the Claims Notice; (B) the Indemnifying Party does not use commercially reasonable efforts to diligently defend the Third-Party Claim; (C) there is a material conflict of interest between the Indemnified Party and the Indemnifying Party in the conduct of such defense; (D) the Third-Party Claim alleges fraud or could result in criminal proceedings; (E) the Third-Party Claim seeks injunctive relief or other equitable remedies against the Company or any Indemnified Party; (F) if reasonably requested to do so by the Indemnified Party, the Indemnifying Party fails to have made reasonably adequate provision to ensure the Indemnified Party of the financial ability of the Indemnifying Party to satisfy the full amount of any adverse monetary judgment that may result from such Third-Party Claim; (G) the Third-Party Claim involves a material customer or material vendor of the Indemnified Party or any of its Affiliates; or (H) the Third-Party Claim is, in the reasonable judgment of the Indemnified Party’s counsel and any other expenses related , likely to result in Losses that will exceed the defense amount of such Third indemnification that the Indemnifying Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with would be liable to pay to the Indemnified Party; shall take all steps necessary in . If the Indemnifying Party elects, and is entitled, to assume the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Claim, (1) the Indemnified Party will have the right to participate in the defense thereof and employ counsel separate from the counsel employed by the Indemnifying Party, all at the Indemnified Party’s sole cost and expense; and (2) the Indemnifying Party shall have the right to pay, settle or Dynamic compromise such Third-Party Claim without the prior written consent of the Indemnified Party, so long as applicable, for purposes of any claim that a Superior the Indemnifying Party notifies the Indemnified Party at least five (5) days prior to any such payment, settlement or Dynamic compromise, and such payment, settlement or compromise (x) includes an unconditional release of the Indemnified Party from all Liability in respect of such Third-Party Claim, (y) does not subject the Indemnified Party to any criminal liability or injunctive relief or other equitable remedy, and (z) does not include a statement or admission of fault, culpability or failure to act by or on behalf of the Indemnified Party. Notwithstanding the Indemnifying Party’s right to compromise or settle in accordance with the immediately preceding sentence, as applicablethe Indemnifying Party may not settle or compromise any Claim over the objection of the Indemnified Party; provided, may have under this Agreement however, that consent by the Indemnified Party to settlement or compromise will not be unreasonably withheld or delayed. If the Indemnified Party assumes the defense of the Third-Party Claim, the Indemnifying Party will use commercially reasonable efforts to cooperate with respect to such proceeding or the matters alleged therein and agree that process may be served on a Indemnified Party with respect to such a claim anywhere in the worlddefense of such Third-Party Claim.

Appears in 1 contract

Sources: Membership Interest Purchase Agreement (Gse Systems Inc)

Third Party Claims. (a) In If any claim or demand is made against an Indemnified Party or the event that Company with respect to any matter, or any Indemnified Party shall otherwise learn of an assertion or of a potential claim, by any Person desires to make who is not a Party (or an Affiliate thereof) (including, for the avoidance of doubt, any claim under Sections 10.2 or 10.3 in connection with any action, suit, proceedingdemand, or demand at any time instituted against threatened claim or made upon any Person for which such Person may seek indemnification hereunder demand, arising under Section 8.5(a)) (each a “Third Party Claim”)) which may give rise to a claim for indemnification against an Indemnifying Party under this Agreement, then the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) Party shall promptly notify give the Indemnifying Party or Parties required to provide indemnification hereunder (a Claim Notice in reasonable detail of the “Indemnifying Party”) of such Third Party Claim (including the factual basis for the Third Party Claim, and, to the extent known, the amount of the Third Party Claim); provided, however, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the claim of indemnification with respect thereto, provided extent) the Indemnifying Party is actually prejudiced as a result thereof (except that the Indemnifying Party will not be liable for any expenses incurred during the period in which the Indemnified Party failed to give such notice); it being understood and agreed that the failure of the Indemnified Party to give such prompt notice shall not relieve so notify the Indemnifying Parties Party prior to settling a Third Party Claim (whether by paying a claim or executing a binding settlement agreement with respect thereto) or the entry of their obligations under this Article X, except a judgment or issuance of an award with respect to a Third Party Claim shall constitute actual prejudice to the extentIndemnifying Party’s ability to defend against such Third Party Claim. Thereafter, if at all, that the Indemnified Party will deliver to the Indemnifying Parties shall have been prejudiced therebyParty, promptly after the Indemnified Party’s receipt thereof, copies of all notices and documents (including court papers) received or transmitted by the Indemnified Party relating to the Third Party Claim. (b) Upon receipt The Indemnifying Party will have the right to participate in or to assume the defense of notice from the Third Party Claim (in either case in good faith and at the expense of the Indemnifying Party) with counsel of its choice reasonably satisfactory to the Indemnified Party; provided, that in the case of any Third Party pursuant Claim relating to Section 10.5(a) and provided that Taxes for any Straddle Period, the Indemnifying Party confirms in writing that shall only have the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity right to participate in the defense of such Third Third-Party Claim with its own counsel and (at its own expense; provided, that if an the expense of the Indemnifying Party). The Indemnifying Party is also subject will be liable for the reasonable fees and expenses of counsel employed by the Indemnified Party for any period during which the Indemnifying Party has failed to assume the defense thereof (other than during any period in which the Indemnified Party shall have failed to give written notice of the Third Party Claim and counsel as provided above following a reasonable period of time to provide such notice). Should the Indemnifying Party so elect to assume the defense of a Third Party Claim, the Indemnifying Party will not be liable to the Indemnified Party for any legal or other expenses subsequently incurred by the Indemnified Party in connection with the defense thereof; provided, however, that, if the Parties reasonably determines in writing agree that a conflict or potential conflict of interest exists between in respect of such claim, such Indemnified Party will have the right to employ separate counsel and any appropriate local counsel reasonably satisfactory to the Indemnifying Party to represent such Indemnified Party and in that event the reasonable fees and expenses of such separate counsel (but not more than one separate counsel and any appropriate local counsel for all Indemnified Parties) shall be paid by such Indemnifying Party. If the Indemnifying Party is conducting the defense of the Third Party Claim, the Indemnified Party, then at its sole cost and expense, may retain separate counsel, and participate in the defense of the Third Party Claim, it being understood that the Indemnifying Parties shall be liable under Party will control such defense subject to the limitations set out in this Article X for VIII. (c) No Indemnifying Party will consent to any settlement, compromise or discharge (including the fees consent to entry of any judgment) of any Third Party Claim without the Indemnified Party’s counsel prior written consent (which consent will not be unreasonably withheld, delayed or conditioned); provided that, subject to Section 6.14(d) and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counselSection 6.14(e), contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with if the Indemnifying Parties in Party assumes the defense of any Third Party Claim, the Indemnified Party will agree to any settlement, compromise or discharge of such Third Party Claim defended by which the Indemnifying Parties. (c) The Party may recommend and which by its terms obligates the Indemnifying Parties Party to pay the full amount of Damages in connection with such settlement, compromise or discharge and releases the Indemnified Party from Liability in connection with such Third Party Claim, provided that such settlement, compromise or discharge does not impose any material non-monetary restrictions or obligations on the Indemnified Party. Whether or not the Indemnifying Party shall be authorized to have assumed the defense of a Third Party Claim, the Indemnified Party will not admit any Liability, consent to a settlement of, or the entry of any judgment arising fromor enter into any settlement or compromise with respect to the Third Party Claim without the prior written consent of the Indemnifying Party (which consent will not be unreasonably withheld, delayed or conditioned). (d) If the Indemnifying Party assumes the defense of any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with Party will keep the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply informed of all material developments relating to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by in connection with such Third Party Claim. If the Indemnifying Party chooses to defend a Third Party Claim, the Parties will cooperate in the defense thereof (with the Indemnifying Party being responsible for all reasonable out-of-pocket expenses of the Indemnified Party (other than for the fees and expenses of its counsel unless provided otherwise in Section 8.4(b)) in connection with such cooperation), which cooperation will include the provision to the Indemnifying Party of records and information which are reasonably relevant to such Third Party Claim, and making employees available on a mutually convenient basis to provide additional information and explanation of any material provided hereunder. (de) Each If the Indemnifying Party elects not to assume the defense of any Third Party Claim, the Indemnified Party may defend such Third Party Claim and may settle or compromise any such Third Party Claim in good faith at the risk and expense of the Parties hereby consents Indemnifying Party, provided that the Indemnifying Party shall retain its right to participate in such defense and the nonexclusive jurisdiction Indemnified Party shall use its reasonable efforts to consult with the Indemnifying Party concerning such matter. (f) In the event of payment in full by an Indemnifying Party to any court Indemnified Party in which a proceeding connection with any claim (each an “Indemnified Claim”), such Indemnifying Party will be subrogated to and will stand in the place of such Indemnified Party as to any events or circumstances in respect of a Third-which such Indemnified Party may have any right or claim relating to such Indemnified Claim is brought against any Superior claimant or plaintiff asserting such Indemnified Claim or against any other Person. Such Indemnified Party or Dynamic Indemnified will cooperate with such Indemnifying Party in a reasonable manner, and at the cost and expense of such Indemnifying Party, as applicable, for purposes of in prosecuting any claim that a Superior Indemnified Party subrogated right or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worldclaim.

Appears in 1 contract

Sources: Stock Purchase Agreement (Kapstone Paper & Packaging Corp)

Third Party Claims. (a) In Except with respect to the event that any Person desires ▇▇▇▇▇▇▇▇ Claim as described in Section 7.3(c), all claims for indemnification made under this Agreement resulting from, related to make or arising out of a third-party claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder an Indemnified Party (a “Third Party Claim”), ) shall be made in accordance with the Person or Persons following procedures. A person entitled to indemnification hereunder under this ARTICLE VII (the an “Indemnified Party”) with respect to a Third Party Claim shall promptly notify give prompt written notification to the Party or Parties required to provide person from whom indemnification hereunder is sought (the “Indemnifying Party”) of the commencement of any action, suit or proceeding relating to a third-party claim for which indemnification may be sought or, if earlier, upon the assertion of any such Third Party Claim and the claim of indemnification with respect thereto, by a third party; provided that the failure of to so notify the Indemnified Indemnifying Party to give such prompt notice promptly shall not relieve the Indemnifying Parties Party of their obligations under this Article X, its or his liabilities hereunder except to the extent, if at all, that extent such failure shall have harmed or prejudiced the Indemnifying Parties shall have been prejudiced thereby. Party. Within thirty (b30) Upon receipt days after delivery of such notification, the Indemnifying Party may, upon written notice from thereof to the Indemnified Party pursuant Party, assume control of the defense of such action, suit, proceeding or claim with counsel reasonably satisfactory to Section 10.5(a) and the Indemnified Party; provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject shall only be permitted to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the such defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of so long as (i) such Third Party Claim with its own counsel involves only monetary damages and at its own expense; provided, that if does not seek an Indemnifying Party is also subject injunction or other equitable relief (and does not involve criminal or quasi criminal allegations or a claim to the Third Party Claim and counsel to which the Indemnified Party reasonably determines in writing that a conflict believes an adverse determination would be detrimental to or potential conflict exists between injure the Indemnified Party’s reputation or future business prospects), (ii) the aggregate amount claimed pursuant to such Third Party Claim does not exceed two times (2X) the then-remaining amount of the General Cap, (iii) the Indemnifying Party and the Indemnified PartyParty do not have conflicting interests with respect to such action, then suit, proceeding or claim and (iv) the Indemnifying Parties Party conducts the defense of the Third Party Claim actively and diligently. If the Indemnifying Party does not assume control of such defense, the Indemnified Party shall control such defense. The Party not controlling such defense may participate therein at its own expense; provided that if the Indemnifying Party assumes control of such defense and the Indemnified Party reasonably concludes, based on advice from counsel, that the Indemnifying Party and the Indemnified Party have conflicting interests with respect to such action, suit, proceeding or claim, the Indemnified Party may immediately assume control of the defense (to the extent permitted by judge or arbitrator) and the reasonable fees and expenses of counsel to the Indemnified Party solely in connection therewith shall be liable under considered “Damages” for purposes of this Article X Agreement; provided, however, that in no event shall the Indemnifying Party be responsible for the fees and expenses of more than one counsel for all Indemnified Parties. The Party controlling such defense shall keep the other Party advised of the status of such action, suit, proceeding or claim and the defense thereof and shall consider recommendations made by the other Party with respect thereto. The Indemnifying Party shall not agree to any settlement of such action, suit, proceeding or claim that (i) provides for any relief other than the payment of monetary damages or that provides for the payment of monetary damages as to which the Indemnified Party will not be indemnified in full pursuant to Section 7.1 or 7.2, as applicable, (ii) does not include a complete release of the Indemnified Party from all Liability with respect to such claim with prejudice, or (iii) that imposes any liability or obligation on the Indemnified Party, without the prior written consent of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with If the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in assumes the defense of any Third Party Claim defended by action, suit, proceeding or claim which the Indemnifying Parties. Party is not entitled to assume pursuant to this Section 7.3(a) (c) The Indemnifying Parties other than the ▇▇▇▇▇▇▇▇ Claim), such Indemnified Party shall not be authorized entitled to consent agree to a any settlement of, or the entry of any judgment arising fromsuch action, suit, proceeding or claim that imposes any Third Party Claimliability or obligation on Sellers, without the prior written consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause Sellers, not to be paid all amounts arising out of unreasonably withheld or delayed. In the event that such settlement consent is unreasonably withheld or judgment concurrently with delayed, the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party may settle such action, suit, proceeding or agree to any restriction or condition claim in a manner that would apply to or adversely affect any Indemnified Party or to impose a liability on Sellers, provided that the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement liability with respect to such proceeding or settlement shall be subject to the matters alleged therein and agree that process may be served on a Party with respect limitations set forth in Section 7.5 to such a claim anywhere in the worldextent applicable.

Appears in 1 contract

Sources: Purchase Agreement (Microstrategy Inc)

Third Party Claims. (a) In the event that If any Person desires to make Claims Notice identifies a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder Liability Claim brought by a third party (a “Third Party Claim” and together with the Liability Claims, the “Claims”), then the Person or Persons entitled Indemnifying Party has the right, exercisable by written notice to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon within ten days after receipt of notice from the Indemnified Party pursuant such Claims Notice, to Section 10.5(a) assume and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in conduct the defense of such Third Party Claim in accordance with its own the limits set forth in this Agreement with counsel selected by the Indemnifying Party and at its own expensereasonably acceptable to the Indemnified Party; provided, however, that if an (i) the defense of such Third Party Claim by the Indemnifying Party will not, in the reasonable judgment of the Indemnified Party, have a material adverse effect on the Indemnified Party; (ii) the Indemnifying Party has sufficient financial resources, in the reasonable judgment of the Indemnified Party, to satisfy the amount of any adverse monetary judgment that is also subject reasonably likely to result; (iii) the Third Party Claim solely seeks (and counsel continues to seek) monetary damages; and (iv) the Indemnified Indemnifying Party reasonably determines expressly agrees in writing that a conflict or potential conflict exists as between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under Party may only satisfy and discharge the Third Party Claim in accordance with the limits set forth in this Article X for Agreement (the fees of conditions set forth in clauses (i) through (iv) are, collectively, the Indemnified Party’s counsel and any other expenses related to “Litigation Conditions”). If the Indemnifying Party does not assume the defense of a Third Party Claim in accordance with this Section 10.2(b), then the Indemnified Party may continue to defend the Third Party Claim. Notwithstanding the foregoing, if (i) any of the Litigation Conditions cease to be met or (ii) the Indemnifying Party fails to take reasonable steps necessary to defend diligently such Third Party Claim, the Indemnified Party may assume its own defense, and the Indemnifying Party will be liable for all reasonable costs or expenses paid or incurred in connection with such defense, subject to Section 10.3. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with Party or the Indemnified Party; shall take all steps necessary , as the case may be, has the right to participate in the defense or settlement of such Third Party Claim; and shall (but not control), at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shallits own expense, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by which the Indemnifying Parties. (c) other is defending as provided in this Agreement. The Indemnifying Parties shall be authorized to Party, if it has assumed the defense of any Third Party Claim as provided in this Agreement, may not, without the prior written consent of the Indemnified Party, consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim that (i) does not include as an unconditional term thereof the giving by the claimant or the plaintiff to the Indemnified Party a complete release from all liability in respect of such Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber grants any of the assets of any Indemnified Party injunctive or agree to any restriction equitable relief or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as may reasonably be expected to have a condition of any settlement or other resolution, a complete release of any material adverse effect on the Indemnified Party. The Indemnified Party potentially affected by such has the right to settle any Third Party Claim, the defense of which has not been assumed by the Indemnifying Party. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Stock Purchase Agreement (National Investment Managers Inc.)

Third Party Claims. (ai) In Promptly after receipt by a party entitled to be indemnified under this Section 7 (an "Indemnified Party") of notice of the event that commencement of any Person desires Action for which the Indemnified Party intends to make assert a claim for indemnification against another party (an "Indemnifying Party") under Sections 10.2 this Section 7, the Indemnified Party shall give notice to the Indemnifying Party of the commencement of such Action with reasonable promptness (so as to not prejudice the Indemnifying Party's rights). (ii) The Indemnifying Party shall be entitled to participate in any Action described in Section 7.5(a)(i) above and, to the extent that it wishes, to assume the defense of such Action with counsel reasonably satisfactory to the Indemnified Party. Following the assumption of defense by an Indemnifying Party, the Indemnifying Party shall not be liable for any subsequent fees of legal counsel or 10.3 other expenses incurred by the Indemnified Party in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) defense of such Third Party Claim Action, and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity right to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if . No compromise or settlement of any claims in an Action shall be binding on an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between for purposes of the Indemnifying Party and the Indemnified Party, then 's indemnity obligations under this Agreement without the Indemnifying Parties shall be liable under this Article X for Party's express written consent. (iii) A party granted the fees of the Indemnified Party’s counsel and any other expenses related right to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in direct the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties Action under this Section 7.5 shall (iA) pay or cause keep the other parties hereto informed of material developments in the Action, (B) promptly submit to be paid the other parties copies of all amounts arising out of such settlement or judgment concurrently pleadings, responsive pleadings, motions and other similar legal documents and papers received in connection with the effectiveness of such settlement; Action, (iiC) not encumber any of permit the assets of any Indemnified Party or agree other parties and their counsel, to any restriction or condition that would apply the extent practicable, to or adversely affect any Indemnified Party or to confer on the conduct of any Indemnified Party’s business; the defense of the Action, and (iiiD) obtainto the extent practicable, permit the other parties and their counsel an opportunity to review all legal papers to be submitted prior to their submission. The parties shall make available to each other and each other's counsel and accountants all of their books and records relating to the Action, and each party shall provide to the others such assistance as a condition may be reasonably required to insure the proper and adequate defense of the Action. Each party shall use its good faith efforts to avoid the waiver of any settlement or other resolution, a complete release privilege of another party. The assumption of the defense of any Indemnified Action by an Indemnifying Party potentially affected by such Third Party Claim. (d) Each shall not constitute an admission of responsibility to indemnify or in any manner impair or restrict the Parties hereby consents Indemnifying Party's rights to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have later seek to be reimbursed its costs and expenses if indemnification under this Agreement with respect to the Action was not required. An Indemnifying Party may elect to assume the defense of an Action at any time during the pendency of the Action, even if initially the Indemnifying Party did not elect to assume the defense, so long as the assumption at such proceeding or later time would not materially prejudice the matters alleged therein and agree that process rights of the Indemnified Party. (iv) A Claim for indemnification for any matter not involving a third-party claim may be served on a Party with respect asserted by written notice of the Claim, setting forth in reasonable detail the factual and contractual bases for the Claim, to such a claim anywhere in the worldparty from whom indemnification under this Section 7 is sought.

Appears in 1 contract

Sources: Asset Purchase Agreement (Amcast Industrial Corp)

Third Party Claims. (a) In If the event that any Person desires to make Indemnified Party receives notice of the assertion by a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”)Claim with respect to which the Indemnifying Party is or may be obligated to provide indemnification, the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) Party shall promptly notify the Indemnifying Party or Parties required in writing (the "Claim Notice") of the Claim; provided that the failure to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve or otherwise affect the obligation of the Indemnifying Parties of their obligations under this Article XParty to provide indemnification hereunder, except to the extent, if at all, extent that the Indemnifying Parties shall have been prejudiced therebyany Damages directly resulted from or were caused by such failure. (b) Upon The Indemnifying Party shall have thirty days after receipt of notice from the Claim Notice to undertake, conduct and control, through counsel satisfactory to the Indemnified Party, and at the Indemnifying Party's expense, the settlement or defense thereof, and the Indemnified Party pursuant shall cooperate with the Indemnifying Party in connection therewith; provided, that (i) the Indemnifying Party shall permit the Indemnified Party to Section 10.5(a) and participate in such settlement or defense through counsel chosen by the Indemnified Party, provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification fees and expenses of such counsel shall not be borne by the Indemnifying Party under the applicable provisions of this Article X, and shall not be included in any Damages claimed hereunder and (ii) the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Party shall not settle any Third Party Claim, but shall allow except a Claim solely for monetary Damages, without the Indemnified Party's consent. So long as the Indemnifying Party a reasonable opportunity to participate in the defense of is vigorously contesting any such Third Party Claim with its own counsel and at its own expense; providedin good faith, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict shall not pay or potential conflict exists between settle such claim without the Indemnifying Party and the Indemnified Partyconsent, then the Indemnifying Parties which consent shall not be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Partiesunreasonably withheld. (c) The If the Indemnifying Parties shall be authorized Party does not notify the Indemnified Party within thirty days after receipt of the Claim Notice that it elects to consent to a settlement of, or undertake the entry defense of any judgment arising from, any the Third Party ClaimClaim described therein, without the consent Indemnified Party shall have the right to contest, settle or compromise the Third Party Claim in the exercise of any its reasonable discretion, on behalf of and for the account and risk of the Indemnified Party; but only if provided that the Indemnified Party shall notify the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets Party of any Indemnified Party compromise or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct settlement of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each The Indemnifying Party shall not be entitled to assume the defense for any Third Party Claim (and shall be liable for the reasonable fees and expenses incurred by the Indemnified Party in defending such claim) if the Third Party Claim seeks an order, injunction or other equitable relief or relief for other than money damages against the Indemnified Party which the Indemnified Party determines, after conferring with its counsel, cannot be separated from any related claim for money damages and which, if successful, would adversely affect the Assets or the business, properties or prospects of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worldBusiness.

Appears in 1 contract

Sources: Asset Purchase Agreement (Neoware Systems Inc)

Third Party Claims. Each Indemnified Party under this Section 11 shall, promptly after the receipt of notice of the commencement of any Claim by a third party against such Indemnified Party in respect of which indemnity may be sought from an Indemnifying Party under this Section 11, promptly notify the appropriate Indemnifying Party in writing of the commencement thereof (awhich shall also constitute the notice required by Section 11.3) In the event that any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party ClaimClaim Notice”), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that . The failure of the an Indemnified Party to give such prompt notice notify the Indemnifying Party in accordance with this Section 11.4 shall not relieve the Indemnifying Parties of their obligations Party from any liability which it may have to such Indemnified Party under this Article XSection 11 unless, except and only to the extentextent that, if at allsuch failure to notify results in such Indemnifying Party’s loss of substantive or practical rights or defenses. If a third party Claim is brought against any Indemnified Party, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the shall be entitled, upon written notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party within 30 business days after the receipt of the Claim Notice, to assume the defense at its own expense with counsel approved by such Indemnified Party (which approval shall not be unreasonably withheld, conditioned or delayed, and shall not be withheld if such counsel is counsel identified in Section 13.2 hereof); provided, however, the election by such Indemnifying Party to assume such defense shall not preclude the party against which such claim has been made also from participating or continuing to participate in such defense, so long as such party bears its own legal fees and expenses for so doing. Notwithstanding the foregoing, in any Claim in which both an Indemnifying Party, on the one hand, and an Indemnified Party, on the other hand, are, or are reasonably determines likely to become, a party, such Indemnified Party shall have the right, at Indemnifying Party’s expense, to employ separate counsel and to control its own defense of such Claim if, in writing the reasonable opinion of counsel to such Indemnified Party, either (x) one or more defenses are available to the Indemnified Party that are not available to the Indemnifying Party or (y) a conflict or potential conflict exists between the Indemnifying Party, on the one hand, and such Indemnified Party, on the other hand, that would make such separate representation advisable; provided, however, that the Indemnifying Party (i) shall not be liable for the fees and expenses of more than one counsel to all Indemnified Parties and (ii) shall reimburse the Indemnified Parties for all of such fees and expenses of such counsel incurred in any action, between the Indemnifying Party and the Indemnified Parties or between the Indemnified Parties and any third-party, as such expenses are incurred; provided further, that, in the case of a Buyer Indemnified Party, then the Indemnifying Parties such expenses shall be liable under this Article X deducted by Buyer from the Holdback Amount, which, except as otherwise provided in Section 11.5, shall be the sole recourse of the Buyer Indemnified Parties for the fees recovery of such expenses. Each Indemnifying Party agrees that it will not, without the prior written consent of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties (which consent shall select counselnot be unreasonably withheld, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense conditioned or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shalldelayed), and shall cause each of its Affiliates and representatives tosettle, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to compromise or consent to a settlement of, or the entry of any judgment in any pending or threatened Claim relating to the matters contemplated hereby unless such settlement, compromise or consent includes an unconditional release of each Indemnified Party from all liability arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising that may arise out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Stock Purchase Agreement (Zanett Inc)

Third Party Claims. (a) In The Indemnified Party seeking indemnification under this Agreement shall promptly notify the event that Party against whom indemnification is sought (the “Indemnifying Party”) of the assertion of any Person desires to make a claim under Sections 10.2 claim, or 10.3 in connection with the commencement of any action, suit, proceeding, suit or demand at proceeding by any time instituted against or made upon any Person for which such Person may seek indemnification hereunder Third Party (a “Third Party Claim”), in respect of which indemnity may be sought hereunder and shall give the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Indemnifying Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification information with respect theretothereto as the Indemnifying Party may reasonably request, provided that but failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties Party of their obligations under this Article X, except any liability hereunder (unless and to the extent, if at all, extent that the Indemnifying Parties Party has suffered material prejudice by such failure). The Indemnifying Party shall have been prejudiced thereby. the right, but not the obligation, exercisable by written notice to the Indemnified Party within twenty (b20) Upon days of receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that of the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions commencement of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control or assertion of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in assume the defense and control the settlement of any such Third Party Claim with its own counsel if and at its own expense; provided, that only if an (i) the Indemnifying Party is also subject acknowledges in writing its obligation to the Third Party Claim and counsel to indemnify the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party for any and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense all Losses arising out of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors (ii) such Third Party Claim involves (and consultants continues to involve) claims solely for money damages or involves (and continues to involve) claims for both money damages and equitable relief against the Indemnified Party that cannot be severed, where, in the reasonable good faith opinion of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in , the defense or settlement of such claims for money damages are the primary claims asserted by the Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claimclaims for equitable relief are incidental to the claims for money damages. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with In the event that the Indemnifying Parties in Party exercises its right to control the defense of any Third Party Claim defended as provided above, then the other Party shall cooperate in such defense and make available all witnesses, pertinent records, materials and information in such Party’s possession and control relating thereto as is reasonably required by the Indemnifying PartiesParty conducting the defense. (b) The Indemnifying Party or the Indemnified Party, as the case may be, shall have the right to participate in (but not control), at its own expense, the defense of any Third Party Claim that the other is defending, as provided in this Agreement. 35 (c) The If the Indemnifying Parties Party has assumed the defense of any Third Party Claim as provided in this Agreement, the Indemnifying Party shall be authorized to not settle, enter into any compromise, consent to a settlement of, or consent to the entry of any judgment arising from, any such Third Party Claim, Claim without the consent of any Indemnified Party; but only if the Indemnifying Parties ’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed, unless (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with relates solely to monetary damages for which the effectiveness of such settlement; Indemnifying Party has acknowledged and accepted full responsibility to indemnify the Indemnified Party, and (ii) not encumber any the terms of the assets settlement include a full and unconditional release of the Indemnified Party and all of its Affiliates in respect of the subject matter of such Third Party Claim and all related claims and damages arising therefrom and no acknowledgement or acceptance of any fault or blame on the part of the Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or Party. In addition to the conduct of any foregoing, the Indemnifying Party shall not, without the Indemnified Party’s business; and prior written consent, enter into any compromise or settlement that (iiii) obtain, as a condition of any settlement or other resolution, a complete release of any commits the Indemnified Party potentially affected to take, or to forbear to take, any action, or (ii) does not provide for a full and unconditional release by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Asset Purchase Agreement

Third Party Claims. (a) In If the event that any Person desires to make Indemnified Party seeks indemnification under this Article 10 in respect of, arising out of or involving a claim under Sections 10.2 or 10.3 in connection with any actiondemand, suitwhether or not involving a Proceeding, proceeding, by another Person not a party to this Agreement or demand at any time instituted against or made upon any Person for which an Affiliate of such Person may seek indemnification hereunder party (a “Third Party Claim”), then the Person Indemnified Party will include in the Indemnity Claim Notice (i) notice of the commencement or Persons entitled threat of any Proceeding relating to indemnification hereunder such Third Party Claim within thirty (30) days after the Indemnified Party”Party has received written notice of the commencement of the Third Party Claim and (ii) shall promptly notify the Party or Parties required to provide indemnification hereunder (facts constituting the “Indemnifying Party”) of basis for such Third Party Claim and the claim amount of indemnification with respect theretothe damages claimed by the other Person, provided that failure in each case to the extent known to the Indemnified Party. Notwithstanding the foregoing, no delay or deficiency on the part of the Indemnified Party to give such prompt notice shall not in so notifying the Indemnifying Party will relieve the Indemnifying Parties Party of their obligations any Liability or obligation under this Article X, Agreement except to the extent, if at all, that extent the Indemnifying Parties shall have been prejudiced therebyParty has suffered actual material Losses directly caused by the delay or other deficiency. (b) Upon receipt of notice from Within thirty (30) days after the Indemnified Party pursuant to Party’s delivery of an Indemnity Claim Notice under this Section 10.5(a) 10.4 and provided that solely if the potential Liability of the Indemnifying Party confirms in writing that is greater than the subject matter set forth in potential Liability of the notice is subject to indemnification by Indemnified Party, the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), may assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expenseby giving to the Indemnified Party written notice of the intention to assume such defense; provided, that if an the Indemnifying Party is also subject to further retains counsel for the defense of the Third Party Claim and counsel reasonably satisfactory to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in provided, further, that if the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with Seller is the Indemnifying Parties Party, in no event may the Indemnifying Party assume, maintain control of, or participate in, the portion of the defense of any Third Party Claim defended (A) involving criminal Liability or (B) in which any relief other than monetary damages is sought against the Indemnified Party or that is brought by the Indemnifying Partiesa Governmental Authority. (c) The If the Indemnifying Parties shall be authorized to consent to a settlement ofParty does not, or is not able to, assume or maintain control of the entry defense of a Third Party Claim in compliance with Section 10.4(b), the Indemnified Party will have the right to control the defense of the Third Party Claim. The party not controlling the defense (the “Noncontrolling Party”) may participate therein at its own expense. The party controlling the defense (the “Controlling Party”) will reasonably advise the Noncontrolling Party of the status of the Third Party Claim and the defense thereof, discuss with the Noncontrolling Party any strategic decisions in such defense, and take into account in good faith any comments by the Noncontrolling Party. The Noncontrolling Party will, upon reasonable request by the Controlling Party use commercially reasonable efforts to furnish the Controlling Party with such information as it may have with respect to such Third Party Claim and related Proceedings (including copies of any judgment arising fromsummons, complaint or other pleading which may have been served on such party and any written claim, demand, invoice, billing or other document evidencing or asserting the same) and will otherwise reasonably cooperate with and assist in the defense of the Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or except to the conduct of any Indemnified extent such information would reasonably prejudice its rights versus the Controlling Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each Neither party will agree to any compromise or settlement of the Parties hereby consents Third Party Claim without the prior written Consent of the other party, which Consent will not be unreasonably withheld, conditioned or delayed. Notwithstanding anything to the nonexclusive jurisdiction of any court contrary in which a proceeding in respect of a Third-Party this Section 10.4, no Tax Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under shall be subject to this Agreement with respect to such proceeding or the matters alleged therein and agree that process may Section 10.4. Tax Claims shall be served on a Party with respect to such a claim anywhere in the worldgoverned solely by Section 9.8.

Appears in 1 contract

Sources: Share Sale and Purchase Agreement (Choice Hotels International Inc /De)

Third Party Claims. (a) In the event that any Person desires to make If a claim under Sections 10.2 or 10.3 in connection with any claim, action, suit, proceeding, suit or demand at any time instituted against proceeding by a Person who is not a Party or made upon any Person for which such Person may seek indemnification hereunder an Affiliate thereof (a “Third Party Claim”), the ) is made against any Person or Persons entitled to indemnification hereunder pursuant to Section 8.02 (the an “Indemnified Party”) ), and if such Person intends to seek indemnity with respect thereto under this ARTICLE VIII, such Indemnified Party shall promptly notify give a Notice of Claim to the Party or Parties required obligated to provide indemnification hereunder indemnify such Indemnified Party (such notified Party, the “Indemnifying Responsible Party”) of such Third Party Claim and the claim of indemnification with respect thereto, ); provided that the failure of the Indemnified Party to give such prompt notice Notice of Claim shall not relieve the Indemnifying Parties Responsible Party of their its obligations under this Article Xhereunder, except to the extent, if at all, extent that the Indemnifying Parties Responsible Party is actually prejudiced thereby. The Responsible Party shall have been prejudiced thereby. (b) Upon receipt the right to assume the control of notice from and conduct, through counsel reasonably acceptable to the Indemnified Party pursuant to Section 10.5(a) and provided that at the Indemnifying Party confirms in writing that expense of the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article XResponsible Party, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the settlement or defense and control of such Third Party Claim; provided, but shall allow that the Responsible Party has acknowledged to the Indemnified Party a reasonable opportunity in writing its obligation to indemnify the Indemnified Party with respect to such Third Party Claim; provided further, that the Responsible Party must conduct the defense of the Third Party Claim actively and diligently thereafter in order to preserve its rights in this regard. The Indemnified Party may thereafter participate in the defense of any such Third Party Claim with its own counsel and at its own expense. Notwithstanding the foregoing, the Responsible Party shall have no right to assume the defense of, or otherwise defend, compromise, settle or control in any respect, a Third Party Claim if (i) such Third Party Claim relates to or arises in connection with any criminal proceeding or allegation involving, whether directly or indirectly, the Indemnified Party, (ii) such Third Party Claim relates to or arises in connection with any non-criminal proceeding by a Governmental Body that would reasonably be expected to materially and adversely affect the operations or conduct of Parent, its Subsidiaries and its Affiliates (including the Surviving Company) taken as a whole, unless such claim involves the former directors of the Surviving Corporation, in which case Stakeholder Representative may solely control the defense of any such Third Party Claim relating to such director with its own counsel at its own expense, but not any other aspects of such Third Party Claim, (iii) such Third Party Claim would reasonably be expected to result in the granting of an injunction or equitable relief against any Indemnified Party, when if granted, would impede the business or a key asset of Parent or any of its Subsidiaries in any material respect; provided, that if an (iv) the Indemnifying Party failed or is also subject failing to vigorously defend such Third Party Claim, (v) the Responsible Party reasonably believes that the Losses relating to such Third Party Claim could exceed the maximum amount that such Indemnified Party could then be entitled to recover under the applicable provisions of this ARTICLE VIII, (vi) the Third Party Claim involves a claim of infringement, misuse, or misappropriation of any Intellectual Property; provided, however, Stakeholder Representative may participate in the defense of such claim at its sole cost and counsel to expense and Parent may not settle or compromise such claim without Stakeholder Representative's consent (which consent will not be unreasonably withheld, conditioned or delayed), and (vii) the Responsible Party does not provide the Indemnified Party reasonably determines in writing with reasonable evidence that a conflict the Responsible Party has the financial resources to defend such Third Party Claim and to fulfill its indemnification obligations under this ARTICLE VIII. (b) The Responsible Party shall not pay or potential conflict exists between settle any such claim without first seeking the Indemnifying Party and prior written consent of the Indemnified Party, then the Indemnifying Parties shall which consent may not be liable under this Article X for the fees of unreasonably withheld, conditioned or delayed; provided that the Indemnified Party’s counsel consent shall not be required if the judgment or proposed settlement (i) involves only the payment of money damages by the Responsible Party, (ii) does not impose an equitable remedy upon the Indemnified Party in connection with such settlement; (iii) does not include the admittance of any fault by the Indemnified Party, (iv) involves a dismissal of the underlying claim without prejudice (if applicable), (v) includes a full release by the plaintiff or claimant of all Indemnified Parties from any liability or Loss with respect to such Third Party Claim and (vi) includes a provision whereby the plaintiff or claimant in the matter is prohibited from disclosing publicly any other expenses related information regarding the Third Party Claim or such relief without the Indemnified Party’s prior consent. (c) If the Responsible Party chooses to defend any Third Party Claim, the Indemnified Party and its Affiliates, and their respective officers, directors, employees, managers, members, agents and representatives, will cooperate in good faith in the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors Such cooperation will include the retention and consultants (upon the Responsible Party’s request) the provision to the Responsible Party’s of recognized standing records and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of information which are reasonably relevant to such Third Party Claim; , and shall at making employees and other representatives and advisors available on a mutually convenient basis to provide additional information and explanation of any material provided hereunder. The Stakeholder Representative (on behalf of the Stockholders and holders of Options) will act on behalf of all times diligently and promptly pursue Responsible Parties in the resolution case of such all Third Party Claim. The Claims with respect to which a Parent Indemnified Party shall, is seeking indemnification under Section 8.02. Each Responsible Party and Indemnified Party shall cause each of its Affiliates and representatives to, reasonably cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. in respect of which indemnity may be sought hereunder and each (c) The Indemnifying Parties shall be or a duly authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out representative of such settlement or judgment concurrently with the effectiveness of Party) shall furnish such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; records, information and (iii) obtaintestimony, and attend such conferences, discovery proceedings, hearings, trials and appeals, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claimmay be reasonably requested in connection therewith. (d) Each The above provisions of the Parties hereby consents this Section 8.03 shall not apply to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Third Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Partyrelating to Taxes, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement the procedures with respect to such proceeding or which shall be governed by Section 10.01 and an Agreed Indemnifiable Event, the matters alleged therein and agree that process may be served on a Party procedures with respect to such a claim anywhere in the worldwhich shall be governed by Section 8.06.

Appears in 1 contract

Sources: Merger Agreement (Frank's International N.V.)

Third Party Claims. (a) In the event that any Person desires to make case of a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”), the Person Indemnifying Party shall have the right, at its expense, to participate in or Persons entitled to indemnification hereunder (assume control of the negotiation, settlement or defense of the claim or Legal Proceeding and, in such event, the Indemnifying Party shall reimburse the Indemnified Party for all of the Indemnified Party”) 's out-of-pocket expenses as a result of such participation or assumption. If the Indemnifying Party elects to assume such control, the Indemnified Party shall promptly notify have the Party right to participate in the negotiation, settlement or Parties required to provide indemnification hereunder (the “Indemnifying Party”) defense of such Third Party Claim and the claim of indemnification with respect theretoto retain counsel to act on its behalf, provided that failure the fees and disbursements of such counsel shall be paid by the Indemnified Party to give such prompt notice shall not relieve unless the Indemnifying Parties of their obligations under this Article X, except Party consents to the extent, if retention of such counsel at all, that its expense. If the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from Party, having elected to assume such control, thereafter fails to defend the Third Party Claim within a reasonable time, the Indemnified Party pursuant shall be entitled to Section 10.5(a) assume such control and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification shall be bound by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow results obtained by the Indemnified Party a reasonable opportunity with respect to participate in the defense of such Third Party Claim and shall solely bear all reasonable expenses associated with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counselIf either Party makes a payment, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary resulting in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without which precludes a final determination of the consent merits of any the Third Party Claim and the Indemnified Party; but only if Party and the Indemnifying Parties shall (i) pay or cause Party are unable to be paid all amounts arising out of agree whether such settlement or judgment concurrently with payment was unreasonable in the effectiveness of such settlement; (ii) not encumber any circumstances having regard to the amount and merits of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim, then such dispute shall be referred to and finally settled by binding arbitration in accordance with Article 15. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Viewpoint Corp/Ny/)

Third Party Claims. (a) In Except with respect to Tax Matters, which shall be governed by Section 6.4(d), in the event that case of any Person desires to make claim asserted by a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder third party (a “Third Party Claim”), the Person or Persons ) against a party entitled to indemnification hereunder under this Agreement (the “Indemnified Party”) ), notice shall promptly notify be given by the Indemnified Party or Parties to the party required to provide indemnification hereunder (which, for purposes of the Creditor Indemnitees, such notice shall be given to the Representative) (the “Indemnifying Party”) promptly after such Indemnified Party has knowledge of such Third Party Claim and the any claim of indemnification with respect thereto, as to which indemnity may be sought provided that any failure on the part of the Indemnified Party to give such prompt notice so notify the Indemnifying Party shall not relieve limit any of the obligations of the Indemnifying Parties of their obligations under this Article X, VIII (except to the extent, if at all, that extent such failure materially prejudices the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from or materially increases the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification Losses indemnifiable by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of in connection with such Third Party Claim, but ). The Indemnified Party shall allow have the right in its sole discretion to defend or settle any such Third Party Claim. Representative (if the Indemnified Party is a reasonable opportunity Parent Indemnitee) and Parent (if the Indemnified Party is a Creditor Indemnitee) shall be entitled, on behalf of the Indemnifying Parties, at their expense, to participate in in, but not to determine or conduct, the defense of such Third Party Claim with its own counsel and at its own expense; provided(the party controlling such defense the “Controlling Party” and, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to other party the Indemnified Party reasonably determines in writing that a conflict “Non-Controlling Party”). In the event of settlement or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry Controlling Party of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if amount paid in such settlement or resolution (the “Settlement Amount”) shall not be determinative and binding upon the Indemnifying Parties shall as to the amount of Losses recoverable pursuant to this Article VIII with respect thereto unless the Representative (iif the Indemnified Party is a Parent Indemnitee) pay and the Parent (if the Indemnified Party is a Creditor Indemnitee) has consented (or cause been deemed to be paid all amounts arising out of have consented) to any such settlement or judgment concurrently with resolution (in which case the effectiveness of Settlement Amount for such settlement; (ii) not encumber any of settlement or resolution shall, subject to the assets of any limitations set forth in this Article VIII, be Losses for which the affected Indemnified Party or agree are entitled to any restriction or condition that would apply be indemnified, compensated and reimbursed hereunder), it being understood and agreed that, to or adversely affect any the extent the Indemnified Party or is entitled to indemnification hereunder for the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by matters underlying such Third Party Claim. (d) Each , the reasonable attorneys’ fees, other professionals’ and experts’ fees, costs of investigation and court or arbitration costs with respect to such settlement or resolution are Losses recoverable pursuant to this Article VIII regardless of whether the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party Representative or Dynamic Indemnified PartyParent, as applicable, for purposes of any claim that a Superior consents (or is deemed to have consented) to the Settlement Amount. The Representative’s (if the Indemnified Party is a Parent Indemnitee) or Dynamic Parent’s (if the Indemnified PartyParty is a Creditor Indemnitee) consent to any such settlement or resolution shall be deemed to have been given unless the Representative (if the Indemnified Party is a Parent Indemnitee) or Parent (if the Indemnified Party is a Creditor Indemnitee) shall have objected in a writing delivered to Parent (if the Indemnified Party is a Parent Indemnitee) or Representative (if the Indemnified Party is a Creditor Indemnitee) within fifteen (15) days after a written request for such consent is delivered. The consent of the Non-Controlling Party shall not be unreasonably, as applicablewithheld, may have under this Agreement with respect to such proceeding conditioned or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worlddelayed.

Appears in 1 contract

Sources: Merger Agreement (Bionano Genomics, Inc)

Third Party Claims. (ai) In If any third party shall notify any party hereto (the event that “Indemnified Party”) with respect to any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder matter (a “Third Party Claim”), the Person or Persons entitled ) which may give rise to a claim by such Indemnified Party for indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder against any other party hereto (the “Indemnifying Party”) under this ARTICLE VIII, the Indemnified Party shall give the Indemnifying Party prompt written notice thereof. The failure to give such prompt written notice shall not, however, relieve the Indemnifying Party of its indemnification obligations, except and only to the extent that the Indemnifying Party demonstrates that the Indemnifying Party’s ability to defend or resolve such Third Party Claim is materially and adversely affected thereby. Such written notice by the Indemnified Party shall describe in reasonable detail (based on information then available to the Indemnified Party) the Third Party Claim and the claim estimated amount, if reasonably practicable, of indemnification with respect thereto, provided the Loss that failure of has been or may be sustained by the Indemnified Party. (ii) The Indemnifying Party will have the right to defend the Indemnified Party against the Third Party Claim with counsel of its choice, reasonably satisfactory to give such prompt notice shall not relieve the Indemnified Party, so long as (1) the Indemnifying Parties of their obligations under this Article XParty notifies the Indemnified Party, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. within ten (b10) Upon receipt of notice from Business Days after the Indemnified Party pursuant has given notice of the Third Party Claim to Section 10.5(athe Indemnifying Party (or by such earlier date as may be necessary under applicable procedural rules in order to file a timely appearance and response or other responsive pleading) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume assuming the defense and control of such Third Party Claim, but shall allow provided, that if the Indemnifying Party assumes control of such defense the Indemnifying Party must first acknowledge in such notice its indemnification obligations hereunder without qualification or reservation of rights, subject to the limitations and other provisions of this ARTICLE VIII, (2) the Indemnifying Party conducts the defense of the Third Party Claim actively, diligently, in good faith and at its own cost and expense, (3) the Third Party Claim (A) does not involve injunctive, equitable, or other non-monetary relief against the Indemnified Party, (B) is not one in which the Indemnified Party reasonably determines, after consultation with its counsel, that use of the counsel selected by the Indemnifying Party to represent the Indemnified Party would be reasonably likely to present such counsel with a reasonable opportunity conflict of interest, (C) does not involve monetary damages in excess of the Cap, (D) does not relate to participate or otherwise arise in connection with any criminal or regulatory Action or any Action by any Governmental Authority (including any Action in respect of Taxes), (E) is not one in which an adverse judgment would, in the good faith judgment of the Indemnified Party, likely be materially adverse to the Indemnified Party’s business, (F) does not involve, in the case of Seller as the Indemnifying Party, a customer, supplier or vendor to the Company, (4) the assumption of defense of the Third Party Claim by the Indemnifying Party is not reasonably likely to cause a Buyer Indemnified Party to lose coverage under the R&W Insurance Policy, and (5) a Buyer Indemnified Party or the insurer is not required to assume the defense of such Third Party Claim with its own pursuant to the R&W Insurance Policy. (iii) The Indemnified Party may retain separate co-counsel and at its own expense; provided, sole cost and expense (except that if an the Indemnifying Party is also subject will be responsible for the fees and expenses of such separate co-counsel (x) to the Third Party Claim and counsel to extent the Indemnified Party reasonably determines in writing concludes that a conflict the counsel the Indemnifying Party has selected has an actual or potential conflict exists between of interest or (y) to the extent incurred (1) prior to the date the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees effectively assumes control of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The ) or (2) during the pendency of such Third Party Claim if the Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with Party requests any cooperation or assistance from the Indemnified Party; shall take all steps necessary Party or the Indemnified Party is otherwise requested or required to participate in the defense or settlement any aspect of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties). (civ) The Indemnifying Parties shall be authorized to Party will not consent to a settlement of, or the entry of any judgment arising from, or enter into any compromise or settlement with respect to any Third Party Claim, Claim without the prior written consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party (which such consent may not be unreasonably withheld, conditioned, or agree to any restriction delayed) unless such judgment, compromise, or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and settlement (iii1) obtainincludes, as a condition of to any settlement or other resolution, a complete and irrevocable general release of any the Indemnified Party potentially affected and its Affiliates from all Liabilities in respect of such Third Party Claim and (2) involves no admission of wrongdoing by the Indemnified Party or any of its Affiliates and, without limiting the generality of the forgoing, no finding or admission of any violation of any Law or the rights of any Person by the Indemnified Party or any of its Affiliates. (v) In the event that the Indemnifying Party fails to assume the defense of a Third Party Claim in accordance with Section 8.5(a)(ii) or following the Indemnifying Party’s assumption of the defense of a Third Party Claim in accordance with Section 8.5(a)(ii) any of the conditions set forth in Section 8.5(a)(ii) becomes unsatisfied with respect to such Third Party Claim. (d) Each , then the Indemnified Party may assume control of the Parties hereby consents defense of such Third Party Claim to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement entire exclusion (including with respect to the settlement or compromise of, or entry of judgment in, such proceeding or Third Party Claim) and at the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in entire expense of the worldIndemnifying Party.

Appears in 1 contract

Sources: Membership Interest Purchase Agreement (Kingsway Financial Services Inc)

Third Party Claims. (a) In the event that any Person Buyer Indemnified Party or Seller Indemnified Party desires to make a claim under Sections 10.2 against the Reuters Sellers, the Company and its subsidiaries, or 10.3 Dow ▇▇▇▇▇ or DJBI, as the case may be, in each case in connection with any actionthird party litigation, arbitration, action suit, proceeding, claim, investigation or demand at any time instituted against or made upon any Person it for which such Person it may seek indemnification hereunder under Section 7.2 (other than 7.2(e)) (a “Third Party Claim”), the Person or Persons entitled to ): (a) The party that seeks indemnification hereunder (the “Indemnified Party”) shall promptly notify Reuters, the Party Company or Parties required to provide indemnification hereunder Dow ▇▇▇▇▇, as the case may be (the “Indemnifying Party”) ), of such Third Party Claim and the Indemnified Party’s claim of for indemnification with respect theretothereto promptly after obtaining notice of such Third Party Claim; provided, provided that failure of the Indemnified Party to promptly give such prompt notice shall will not relieve the Indemnifying Parties Party of their its indemnification obligations under this Article X7, except (and then only to the extent, if at all, that extent that) the Indemnifying Parties shall have Party has actually been prejudiced thereby. (b) Upon receipt The Indemnifying Party will have the right to assume the defense of notice from the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party pursuant by written notice to Section 10.5(athe Indemnified Party within twenty (20) and provided that days after the Indemnifying Party confirms in writing that has received notice of the subject matter set forth Third Party Claim. (c) The Indemnifying Party shall not, in the notice defense of such claim, consent to the entry of any judgment (other than a judgment of dismissal on the merits without costs) or enter into any settlement without the written consent of the Indemnified Party, which consent shall not be unreasonably withheld, delayed or conditioned, unless (i) there is subject no finding or admission of any violation of any applicable law by the Indemnified Party and (ii) the sole relief provided is monetary damages as to indemnification by which the Indemnifying Party under the applicable provisions of this Article X, shall pay. (d) If the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume Party assumes the defense and control of the Indemnified Party in connection with such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity shall have the right to employ separate counsel at its own expense and to participate in the defense of such Third Party Claim with its own Claim, but the fees and expenses of such counsel and shall be at its own expense; providedthe expense of the Indemnified Party, that if an unless (i) the Indemnifying Party is also subject shall have failed promptly to assume the defense thereof and employ counsel as provided above or (ii) the named parties to any such Third Party Claim and counsel to (including impleaded parties) include the Indemnified Party or its affiliates and the Indemnifying Party or its affiliates, and the Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it that are different from or in addition to those available to the Indemnifying Party, provided that the Indemnifying Party shall not in any event be responsible hereunder for the fees and expenses of more than one law firm retained by all Indemnified Parties in connection with any Third Party Claim in the same jurisdiction. (e) If the Indemnifying Party does not assume the defense of a Third Party Claim after receipt of notice of such Third Party Claim from the Indemnified Party under clause (a) above, the Indemnified Party may defend against such claim in such manner as it reasonably determines deems appropriate. The Indemnified Party may not settle such claim without the written consent of the Indemnifying Party, which consent shall not be unreasonably withheld, delayed, or conditioned. (f) The Indemnified Party shall cooperate in writing that a conflict or potential conflict exists between good faith with the Indemnifying Party and the Indemnified Partyits representatives (including, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select without limitation, its counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary ) in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shallinvestigation, and shall cause each of its Affiliates and representatives tonegotiation, cooperate fully with the Indemnifying Parties in the settlement, trial and/or defense of any Third Party Claim defended by the Indemnifying Parties. (c) and any appeal arising therefrom). The Indemnifying Parties parties shall be authorized cooperate with each other in any notifications to consent to a settlement of, or the entry and information requests of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claiminsurers. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Unit Purchase Agreement (Dow Jones & Co Inc)

Third Party Claims. (a) In the event that any Person desires to make If an Indemnification Claim arises a claim under Sections 10.2 result of or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder in relation to a claim by a third party (a “Third Party Claim”)): 11.6.1 the Indemnified Parties shall, within 10 (Ten) Business Days from the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) receipt of written notice of such Third Party Claim and the claim of indemnification with respect theretoClaim, provided that failure of the Indemnified Party to give such prompt notice shall not relieve notify the Indemnifying Parties or the relevant Indemnifying Party (in case of their obligations a Sole Liability Indemnification Event) in writing (“Third Party Claim Notice”). The Third Party Claim Notice shall specify (i) details of the amount claimed by third party under the Third Party Claim (“Third Party Claim Amount”) and the Pro Rata Share of aggregate Loss for each Indemnifying Party if a Shared Liability Indemnification Event; (ii) the events and circumstances giving rise to the Losses along with supporting documentation to enable the Indemnifying Party to assess the Loss; and (iii) specific provision of the Agreement pursuant to which the claim is being made, to the extent available with the Indemnified Parties. Provided, however, that any failure to provide a Third Party Claim Notice shall not affect the Indemnifying Party’s obligation to indemnify, defend and hold harmless the Indemnified Parties under this Article X, Clause 11 (Indemnification) save and except to the extentextent such delay results in (i) an increase in the amount of Loss suffered or incurred by the Indemnified Parties, if at allin which case the Indemnifying Party shall not be liable for such increased Loss; or (ii) prejudices the right or ability of the Indemnifying Party to defend the Third Party Claim, in which case the Indemnifying Party shall not be liable for any increase in Loss on account of such right or ability being prejudiced; 11.6.2 each Indemnifying Party which has received a Third Party Claim Notice, shall, within the earlier of (A): 20 (Twenty) Business Days of receipt of the Third Party Claim Notice; and (B) 2 (Two) Business Days prior to the expiry of the timeline for response specified in the Third Party Claim: (a) issue a notice in writing accepting the Third Party Claim Notice (“Third Party Claim Notice Acceptance”), and notify the Indemnified Parties in writing, that it intends to assume the Indemnifying Parties shall have been prejudiced thereby. defence of the Third Party Claim (not being an Excluded Third Party Claim) described in the Third Party Claim Notice; or (b) Upon receipt of notice from issue a Third Party Claim Notice Acceptance, and notify the Indemnified Parties in writing, that it does not intend to assume the defence of the Third Party pursuant to Section 10.5(aClaim described in the Third Party Claim Notice; or (c) and provided that the only if such Indemnifying Party confirms is the Transferor, issue a notice in writing rejecting the Third Party Claim Notice (“Third Party Claim Notice Rejection”). Provided that if the subject matter set forth in Transferor issues a Third Party Claim Notice Rejection or notifies its intent to not take control of the notice is subject to indemnification by defence of the Third Party Claim, then no Indemnifying Party under (including the applicable provisions of this Article X, the Indemnifying Parties will, subject Transferor) shall be entitled to the provisions of Section 10.5(c), assume the defense and defend or take control of such Third Party Claim, but shall allow unless the prior written consent of the Indemnified Parties is obtained. It is hereby clarified that the Indemnifying Party shall not be entitled to assume control or defence of a reasonable opportunity Third Party Claim which (a) is criminal in nature or threatens in writing the initiation of criminal Proceedings; and/or (b) seeks as a remedy or prayer, an injunction on the business or operations of the Buyer (each an “Excluded Third Party Claim”). Provided that in case an Excluded Third Party Claim also seeks monetary recourse against the Buyer, the Buyer shall consult the Transferor in relation to participate in such Excluded Third Party Claim; 11.6.3 if Transferor notifies the defense Indemnified Parties pursuant to Clause 11.6.2 above that it intends to assume the defence of such Third Party Claim (not being an Excluded Third Party Claim) then the other Indemnifying Parties shall not be entitled to issue a Third Party Claim Notice Rejection: (a) the Transferor along with all other Indemnifying Party(ies) which have elected to assume defence of the Third Party Claim, acting jointly, shall be entitled at their own cost and expense as per Pro Rata Share if a Shared Liability Indemnification Event (including pursuant to any demands or deposits required to be made in relation to such Third Party Claim) to control and defend the Third Party Claim, in a diligent manner and in accordance with timelines prescribed in the Third Party Claim or by any order of a Governmental Authority. Provided that no Indemnifying Party shall, without the prior written consent of the Indemnified Parties (which shall not be unreasonably withheld), (i) acknowledge or admit to any guilt, liability, fault, misconduct, negligence or breach of any Applicable Law or contract by any Indemnified Parties; and/or (ii) take any action that that may adversely impact the reputation of the Indemnified Parties; and/or (iii) enter into any settlement or compromise of such Third Party Claim. Notwithstanding the aforesaid, if the Indemnifying Parties, propose to settle a Third Party Claim which includes: (A) an unconditional and complete release of the Indemnified Parties, save and except for any monetary claims paid by the Indemnifying Party as part of such settlement, and (B) no admission of liability or wrong doing, or any criminal act on part of any Indemnified Party, and the Indemnified Party(ies) withhold their consent to such a settlement, then the Indemnifying Parties’ liability for such Third Party Claims shall not exceed the amount at which Indemnifying Parties were willing to settle such Third Party Claim; (b) once the Indemnifying Parties have duly assumed the defence of a Third Party Claim in accordance with Clause 11.6.3(a) above, the Indemnified Parties shall have the right, but not the obligation, to participate in any such defence and to employ separate counsel of its own counsel and choosing at its their own expense; provided; (c) the Indemnified Parties shall give, upon written request from the Indemnifying Party, all such information available to it/them that if an Indemnifying Party is also subject relevant to the Third Party Claim and counsel reasonable assistance including access to premises and personnel, and the right to examine and copy or photograph any Assets, accounts, documents and records, as the Indemnified Party Parties may reasonably determines in writing that request, provided any access to information does not constitute a conflict or potential conflict exists between the Indemnifying Party and loss of legal privilege of the Indemnified PartyParties or an act of breach of the confidentiality obligations of the Indemnified Parties; (d) without prejudice to Clause 11.6.3(a) and Clause 11.6.3(b), then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation consult with the Indemnified Party; shall take all steps necessary Parties in relation to the defense or settlement conduct of such the Third Party Claim; and and (e) the Indemnifying Parties shall at keep the Indemnified Parties informed about progress of all times diligently and promptly pursue material developments in relation to the resolution of such Third Party Claim. The Indemnified Party shall; (f) without prejudice to Clause 11.6.3(a), and shall cause each the payment of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by Amount to the Indemnified Parties (and if a Shared Liability Indemnification Event, the Pro Rata Share of each Indemnifying Party) upon issuance of Third Party Claim Notice Acceptance, shall (without prejudice to the Transferor’s entitlement (along with all other Indemnifying Party(ies) which have elected to assume defence of the Third Party Claim, acting jointly, at their own cost and expense as per Pro Rata Share if a Shared Liability Indemnification Event) to control and defend the Third Party Claim) be due in accordance with the timelines set out in Clause 11.5.3(a) above from the date on which, the Indemnified Party is required to make such payment, or the relevant Governmental Authority requires such payment to be made, and the terms of Clause 11.5.3(a) shall apply mutatis mutandis; 11.6.4 (A) if the Transferor upon receipt of a Third Party Claim Notice (i) notifies the Indemnified Parties in accordance with Clause 11.6.2 above of its intent not to defend / take control of the Third Party Claim; (ii) or fails to respond to a Third Party Claim Notice within the earlier of: (x) 20 (Twenty) Business Days of receipt of the Third Party Claim Notice; and (y) 2 (Two) Business Days prior to the expiry of the timeline for response specified in the Third Party Claim; or (iii) the Third Party Claim is an Excluded Third Party Claim; or (B) the Transferor issues a Third Party Claim Notice Rejection with respect to the Third Party Claim, then: (a) no Indemnifying Party shall be entitled to take control of or conduct the defence of the concerned Third Party Claim; (b) the Indemnified Parties shall be entitled at the cost and expense of all the Indemnifying Parties., to defend the Third Party Claim; (c) The the Indemnifying Parties shall be authorized give (at their own cost and expense as per the Pro Rata Share), upon written request from the Indemnified Parties, all such information available to consent with it/them that is relevant to the Third Party Claim and reasonable assistance, provided such access to information does not constitute a settlement ofloss of legal privilege of the Indemnifying Parties or an act of breach of the confidentiality obligations of the Indemnifying Parties; (d) the Indemnified Party(ies) shall not settle, make any admission of liability or the entry of any judgment arising from, compromise any Third Party Claim, without the prior consent of any Indemnified Party; but only if the Indemnifying Parties or the relevant Indemnifying Party (in case of a Sole Liability Indemnification Event); (e) the Indemnified Parties shall keep the Indemnifying Parties or the relevant Indemnifying Party (i) pay or cause in case of a Sole Liability Indemnification Event), informed about progress of and all material developments in relation to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim.; and (df) Each without prejudice to Clause 11.6.4(b), the payment of the Parties hereby consents Third Party Claim Amount to the nonexclusive jurisdiction Indemnified Parties (and if a Shared Liability Indemnification Event, the Pro Rata Share of any court in which a proceeding in respect each Indemnifying Party) upon issuance of a Third-Third Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified PartyNotice Rejection, as applicable, for purposes shall be due in accordance with the timelines set out in Clause 11.5.3(b) above and the terms of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worldClause 11.5.3(b) shall apply mutatis mutandis.

Appears in 1 contract

Sources: Business Transfer Agreement

Third Party Claims. (ai) In the event that Promptly upon receipt by any Indemnified Party of a written claim or demand made by any Person desires other than a party to make this Agreement or such Person’s Affiliates (a claim under Sections 10.2 or 10.3 in connection with “Third Party”) (including by any action, suit, proceeding, or demand at any time instituted against or made upon any Person Governmental Entity) for which such Person may seek Indemnified Party is entitled to indemnification hereunder under this Section 9.3 (a “Third Party Claim”), such Indemnified Party shall deliver written notice of Third Party Claim (a “Notice of Claim”) to the Person Indemnifying Party against whom indemnity is sought, describing in reasonable detail (i) the facts giving rise to such claim for 328608385v2 indemnification hereunder, (ii) the amount or Persons method of computation of the amount of such claim, to the extent reasonably known by the Indemnified Party, and (iii) the nature of the Losses with respect to which such Indemnified Party claims to be entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party hereunder. Any failure or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of delay by the Indemnified Party to give such prompt notice provide any Notice of Claim (or any information therein), however, shall not relieve reduce or otherwise affect the obligation of any Indemnifying Parties of their obligations under this Article XParty to indemnify and hold the Indemnified Party harmless, except to the extent (and only to the extent, if at all, ) that such failure or delay shall have prejudiced the Indemnifying Parties shall have been prejudiced therebyParty. (bii) Upon receipt In the event of notice from a Third Party Claim for which the Indemnified Party pursuant to is seeking indemnification under this Section 10.5(a) and provided that 9.3, the Indemnifying Party confirms in writing that shall have the subject matter set forth in right, upon written notice to such Indemnified Party within fourteen (14) days of receipt of the notice is subject Notice of Claim, to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but at the sole cost and expense of the Indemnifying Party, with counsel selected by the Indemnifying Party and reasonably satisfactory to the Indemnified Party. Any such assumption of the defense of a Third Party Claim shall allow constitute the Indemnifying Party’s acknowledgement of its responsibility to provide indemnification relating to such Third Party Claim pursuant to this Section 9.3. If the Indemnifying Party assumes the defense of such Third Party Claim, the Indemnified Party a reasonable opportunity shall have the right to employ separate counsel and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the sole cost and expense of the Indemnified Party. If the Indemnifying Party assumes the defense of any Third Party Claim, the Indemnified Party shall reasonably cooperate with the Indemnifying Party in such defense (including filing extensions as reasonably determined by the Indemnifying Party) and make available to the Indemnifying Party all witnesses, pertinent records, materials and other information in the Indemnified Party’s possession or under the Indemnified Party’s control relating thereto as is reasonably required by the Indemnifying Party in the defense of such Third Party Claim, subject to the reimbursement of the reasonable costs and expenses incurred by the Indemnified Party as a result of a request by the Indemnifying Party to so cooperate. Notwithstanding the foregoing, the Indemnifying Party shall not be entitled to assume control of the defense (and shall lose the right to continue holding such control after it elects to assume such control of the defense) if (i) such claim seeks any injunctive or non-monetary equitable relief upon the Indemnified Party or (ii) such Third Party Claim is brought by a Governmental Entity or seeks to impose criminal penalties or remedies upon the Indemnified Party. Where a Third Party Claim is brought by a Governmental Entity (other than a claim that seeks to impose criminal penalties or remedies upon the Indemnified Party), Indemnifying Party shall have the right to control the defense, provided Indemnifying Party consults with its own counsel Indemnified Party in good faith and at its own expense; providedshall not settle such claim without Indemnified Party’s prior written consent (not to be unreasonably withheld, that if conditioned, or delayed). (iii) In order for an Indemnifying Party is also subject to continue the defense of any Third Party Claim, such Indemnifying Party shall (1) conduct the defense of such Third Party Claim in a reasonably diligent manner, and (2) keep the Indemnified Parties reasonably informed of all material developments in connection with such Third Party Claim. If the Indemnifying Party fails to conduct the defense of the Third Party Claim and counsel to in accordance with the foregoing standard, then the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between may, upon written notice to the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to assume the defense of such Third Party Claim. The Any such assumption shall not relieve the Indemnifying Parties Party of any of its obligations pursuant to this Section 9.3 and the Indemnifying Party shall select counsel, contractors and consultants of recognized standing and competence after consultation with reimburse the Indemnified Party; shall take Party for all steps necessary fees, costs and expenses (including reasonably attorneys’ fees) in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully connection with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (div) Each So long as the Indemnifying Party has assumed (and is entitled to assume) such Third Party Claim and is diligently defending the Third Party Claim in good faith, the Indemnified Party shall not settle, compromise or discharge such Third Party Claim without the consent of the Parties hereby consents Indemnifying Party. Notwithstanding anything to the nonexclusive jurisdiction contrary herein, if the Indemnifying Party assumes the defense of any court Third Party Claim, the Indemnifying Party shall be entitled to settle, compromise or discharge any Third Party Claim without the prior written consent of the Indemnified Party, so long as: (i) such settlement, compromise or discharge does not include any admission of any fault or violation of Law by the Indemnified Party; (ii) the relief provided in which such settlement, compromise or discharge is limited solely to monetary damages and does not include any requirement that the Indemnified Party take or refrain from taking any actions other than compliance with any customary nondisclosure obligations related to the terms of such settlement contained in the settlement agreement; and (iii) such settlement, compromise or discharge includes a proceeding customary release of the Indemnified Party. 328608385v2 (v) Notwithstanding the foregoing, if the Indemnifying Party does not elect to defend a Third Party Claim or is not entitled to defend a Third Party Claim, the Indemnified Party shall have the right, in addition to any other right or remedy it may have hereunder, to control the defense (or participate in the defense) of such Third Party Claim, and such defense shall be at the Indemnifying Party’s sole cost and expense (subject to the limitations set forth in this Article IX); provided, that the Indemnifying Party shall have the right to employ separate counsel and to participate in the defense thereof, and the fees and expenses of such counsel shall be at the sole cost and expense of the Indemnifying Party, and the Indemnified Parties shall reasonably consult with the Indemnifying Party regarding the defense of any such Third Party Claim, and shall consider in good faith the input of the Indemnifying Party in respect of a Third-the defense of such Third Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worldClaim.

Appears in 1 contract

Sources: Purchase Agreement (Certara, Inc.)

Third Party Claims. (a) In If the event that any Person desires facts giving rise to make a claim the right of indemnification under Sections 10.2 11.1 or 10.3 in connection with 11.2 above involve any action, suit, proceeding, actual claim or demand at by any time instituted third party against the Claimant (any such claim or made upon any Person for which such Person may seek indemnification hereunder (demand by a third party is called a “Third Party Claim”), and if the Person Claimant provides a Claim Notice within ten (10) Business Days of receipt of such Third Party Claim, the Indemnifying Party may, at its own expense, undertake full responsibility for the defense or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) prosecution of such Third Party Claim and may contest or settle it on such terms as it may choose. If the claim of indemnification with respect thereto, provided that failure Indemnifying Party fails to undertake the defense of the Indemnified Third Party Claim, (i) the Indemnifying Party, at its own expense, may nevertheless participate with the Claimant in the defense or prosecution of such Third-Party Claim and (ii) the Claimant may contest the Third-Party Claim on such terms as it may choose; provided, however, that in no event shall the Claimant have the right to give settle any Third Party Claim without the prior written consent of the Indemnifying Party, such prompt notice shall consent not to be unreasonably withheld. The participation of the Indemnifying Party will not relieve such Indemnifying Party of its obligation to indemnify the Indemnifying Parties of their obligations Claimant under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced therebyXI. (b) Upon The failure of a Claimant to provide an Indemnifying Party with a Claim Notice within ten (10) Business Days of receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such a Third Party Claim, but as provided in Section 11.4(a), shall allow the Indemnified Party a reasonable opportunity to participate in the defense of not preclude such Claimant from obtaining indemnification for such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for XI, except to the fees extent that such Claimant’s failure has prejudiced the rights or increased the liabilities and obligations of the Indemnified Indemnifying Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Asset Purchase Agreement (Lenox Group Inc)

Third Party Claims. In the event a Claim Notice is delivered with respect to a Third Party Claim, the provisions in the following paragraphs of this Section 5.11 apply. (a) In With respect to any Third Party Claim, the event that any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand Indemnifying Party shall have the right at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) within 60 days of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but at its own expense, to participate in or assume control of the negotiation, settlement or defense of such Third Party Claim; provided, that the Indemnifying Party shall allow not have the right to assume the negotiation, settlement or defense of any Third Party Claim seeking equitable relief. If the Indemnifying Party elects to assume such control, the Indemnified Party a reasonable opportunity shall reasonably cooperate with the Indemnifying Party, shall have the right to participate in the negotiation, settlement or defense of such Third Party Claim with its own counsel and at its own expense; providedexpense and shall have the right to disagree on reasonable grounds with the selection and retention of counsel, that if an Indemnifying Party is also subject in which case, counsel satisfactory to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party shall be retained by the Indemnifying Party. (b) Any Indemnified Party will have the right to employ separate counsel in any Third Party Claim and/or participate in the defense thereof, but the fees and expenses of such counsel will not be included as part of any Losses incurred by 26249768.3 the Indemnified Party unless: (i) such Indemnified Party has received written advice of outside counsel, reasonably acceptable to the Indemnifying Party, then to the Indemnifying Parties shall be liable under this Article X for effect that the fees interests of the Indemnified Party’s counsel Party and any other expenses related the Indemnifying Party with respect to the defense Third Party Claim are sufficiently adverse so as to constitute an actual conflict of interest; or (ii) the employment of such counsel at the expense of the Indemnifying Party has been specifically authorized by the Indemnifying Party. (c) If the Indemnifying Party: (i) having elected to assume control thereafter fails to defend any such Third Party Claim within a reasonable time; or (ii) has not elected to assume control within 60 days of receipt of notice of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; Party shall take all steps necessary in be entitled to assume such control and the defense or settlement of such Third Indemnifying Party Claim; and shall at all times diligently and promptly pursue be bound by the resolution of results obtained by the Indemnified Party with respect to such Third Party Claim. The Indemnified Party shallIn addition, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in Party shall reimburse the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; reasonable and (iii) obtaindocumented out-of-pocket expenses, including reasonable expenses of counsel, as a condition result of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claimassumption. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Contribution and Exchange Agreement

Third Party Claims. (a) In If any Indemnified Party receives written notice of the event that assertion or commencement of any Action made or brought by any Person desires to make who is not a claim under Sections 10.2 Party or 10.3 in connection with any action, suit, proceeding, an Affiliate of a Party or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder a Representative of the foregoing (a “Third Third-Party Claim”), ) against such Indemnified Party with respect to which the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Indemnifying Party or Parties required is obligated to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect theretounder this Agreement, provided that failure of the Indemnified Party shall give the Indemnifying Party reasonably prompt written notice thereof, but in any event not later than thirty (30) days after the Indemnified Party becomes actually aware of such Third-Party Claim. The failure to give such reasonably prompt written notice shall not not, however, relieve the Indemnifying Parties Party of their obligations under this Article Xits indemnification obligations, except and only to the extent, if at all, extent that the Indemnifying Parties shall have been prejudiced therebyParty forfeits material rights or defenses by reason of such failure. (b) Upon receipt of The Indemnifying Party shall have the right to participate in, or, by giving written notice from to the Indemnified Party, to assume the defense of, any Third-Party Claim at the Indemnifying Party’s expense and by the Indemnifying Party’s own counsel, and the Indemnified Party pursuant shall cooperate in good faith in such defense; provided that if the Indemnifying Party is a Seller, such Indemnifying Party shall not have the right to Section 10.5(adefend or direct the defense of any such Third-Party Claim (i) and provided that seeks an injunction or other equitable relief against the Indemnified Party or (ii) that alleges a violation of any applicable Law. In the event that the Indemnifying Party confirms in writing that assumes the subject matter set forth in the notice is subject to indemnification by the Indemnifying defense of any Third-Party under the applicable provisions of this Article X, the Indemnifying Parties willClaim, subject to the provisions of Section 10.5(c9.05(d), assume it shall have the defense right to take such action as it deems necessary to avoid, dispute, defend, appeal or make counterclaims pertaining to any such Third-Party Claim in the name and control on behalf of such Third Party Claim, but shall allow the Indemnified Party. The Indemnified Party a reasonable opportunity shall have the right to participate in the defense of such Third any Third-Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also selected by it subject to the Third Party Claim Indemnifying Party’s right to control the defense thereof. The fees and disbursements of such counsel shall be at the expense of the Indemnified Party; provided that, if in the reasonable opinion of counsel to the Indemnified Party, (A) there are legal defenses available to an Indemnified Party reasonably determines in writing that are different from or additional to those available to the Indemnifying Party, or (B) there exists a conflict or potential conflict exists of interest between the Indemnifying Party and the Indemnified PartyParty that cannot be waived, then the Indemnifying Parties Party shall be liable under this Article X for the reasonable fees and expenses of counsel to the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with in each jurisdiction for which the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Partiesdetermines counsel is required. (c) The If the Indemnifying Parties shall be authorized Party elects not to consent to a settlement of, or the entry of any judgment arising from, any Third defend such Third-Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party may, subject to Section 9.05(d), pay, compromise, and defend such Third-Party Claim and seek indemnification for any and all Losses based upon, arising from or agree relating to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Third-Party Claim. (d) Each Notwithstanding anything to the contrary contained herein, the Indemnifying Party shall not settle any Third-Party Claim without the prior written consent of the Parties hereby consents Indemnified Party (which consent shall not be unreasonably withheld, conditioned or delayed), except as provided in this Section 9.05. If a firm offer is made to the nonexclusive jurisdiction of any court in which a proceeding in respect of settle a Third-Party Claim is brought against any Superior without leading to liability or the creation of a financial or other obligation on the part of the Indemnified Party or Dynamic and provides, in customary form, for the unconditional release of each Indemnified Party from all liabilities and obligations in connection with such Third-Party Claim and the Indemnifying Party desires to accept and agree to such offer, the Indemnifying Party shall give written notice to that effect to the Indemnified Party, as applicable, for purposes of any claim that a Superior . If the Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect fails to consent to such proceeding firm offer within ten (10) Business Days after its receipt of such notice, the Indemnified Party may continue to contest or defend such Third-Party Claim, at its own expense, and in such event, the matters alleged therein and agree that process may be served on a maximum liability of the Indemnifying Party with respect as to such a claim anywhere Third-Party Claim shall not exceed the amount of such settlement offer. If the Indemnified Party fails to consent to such firm offer and also fails to assume the defense of such Third-Party Claim, the Indemnifying Party may settle the Third-Party Claim upon the terms set forth in such firm offer to settle such Third-Party Claim. If the worldIndemnified Party has assumed the defense pursuant to Section 9.05(c), it shall not agree to any settlement without the written consent of the Indemnifying Party (which consent shall not be unreasonably withheld or delayed).

Appears in 1 contract

Sources: Membership Interest Purchase Agreement (Blum Holdings, Inc.)

Third Party Claims. (ai) In Except as otherwise provided in clause (ii) of this subsection (b), in the event case of any claim asserted by a Person that any Person desires is not a party to make this Agreement or an Affiliate Controlled by a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted party to this Agreement against or made upon any Person for which such Person may seek indemnification hereunder an Indemnified Party (a “Third "Third-Party Claim"), the Person or Persons entitled to indemnification hereunder Indemnified Party shall permit the Indemnifying Party (at the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “expense of such Indemnifying Party) to assume and control the defense of such Third Third-Party Claim and the claim of indemnification with respect thereto, any Proceedings resulting therefrom; provided that failure (x) counsel for the Indemnifying Party who shall conduct the defense of such claim or litigation shall be reasonably satisfactory to the Indemnified Party and (y) the Indemnified Party may participate in such defense at such Indemnified Party's sole cost and expense (including the costs and expenses of counsel). Except with the prior written consent of the Indemnified Party, such consent not to be unreasonably withheld or delayed, no Indemnifying Party shall consent to entry of any judgment or enter into any settlement of any Third-Party Claim or related Proceedings, unless such judgment or settlement relates solely to monetary damages and provides for a full, unconditional and irrevocable release by such third party of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article Xand its Affiliates and, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions reasonable good faith judgment of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then does not and would not reasonably be expected to adversely impact or impair the Indemnifying Parties shall be liable under this Article X for the fees business or reputation of the Indemnified Party’s counsel Party and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying PartiesAffiliates. (cii) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall Notwithstanding clause (i) pay above, in the event that the Indemnified Parties shall in good faith determine that the Indemnified Parties may have available to them one or cause to be paid all amounts arising out of such settlement more defenses or judgment concurrently counterclaims that are inconsistent with the effectiveness of such settlement; (ii) not encumber any one or more of the assets of any Indemnified Party defenses or agree to any restriction or condition counterclaims that would apply to or adversely affect any Indemnified Party or may be available to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Indemnifying Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought or any Proceeding relating thereto, (A) the Indemnified Parties shall have the right, at the sole cost of the Indemnifying Party (including the costs and expenses of counsel for the Indemnified Parties (provided that the Indemnifying Party will not be required to pay for more than one counsel in any jurisdiction for all Indemnified Parties in connection with any such Third-Party Claim and related Proceedings)), at all times to take over and assume control over the defense and prosecution of such portion of such Third-Party Claim and related Proceedings related to such inconsistent defenses and counterclaims and (B) the Indemnifying Party shall retain control over the defense and prosecution of the remaining aspects of such Third-Party Claim and related Proceeding; provided that, in the case where the Indemnified Parties have assumed control of the defense and prosecution of such portion of such Third-Party Claim and related Proceeding related to such inconsistent defenses and counterclaims, neither the Indemnifying Party nor the Indemnified Party may settle such claim or Proceeding without the written consent of the other party, such consent not to be unreasonably withheld or delayed. In the event that the Indemnified Party does not assume the defense of any matter as provided above in clause (A), the Indemnifying Party shall have the right to control the defense against any Superior such Third-Party Claim or related Proceeding, provided that (1) subject to the control of the prosecution and defense of such Third-Party Claim by the Indemnifying Party and its counsel, the Indemnified Parties and their counsel (which shall be reasonably satisfactory to the Indemnifying Party) shall be kept fully informed as to all material aspects of such Third-Party Claim and related Proceedings and shall have the right to participate in the prosecution and defense of such Third-Party Claim, (2) the Indemnifying Party and its counsel shall promptly provide to the Indemnified Parties and their counsel all material information related to such Third-Party Claim and related Proceedings (including copies of written information), (3) the Indemnified Parties and their counsel shall have their views regarding such Third-Party Claim considered in good faith by the Indemnifying Party and its counsel and (4) the Indemnified Parties and their counsel shall have the right to consent, such consent not be unreasonably withheld, to the settlement or compromise of such Third-Party Claim and related Proceedings. (iii) Subject to clause (ii) of this Section 7.10(b), in the event that an Indemnified Party determines in good faith that any Third-Party Claim or any Proceeding related thereto has had or could reasonably be expected to materially adversely impact or impair the commercial interests or business reputation of the Indemnified Party or Dynamic its Affiliates, (1) counsel to be utilized by the Indemnifying Party in respect of such Third-Party Claim and related Proceeding shall be reasonably acceptable to the Indemnified Parties, (2) subject to the control of the prosecution and defense of such Third-Party Claim by the Indemnifying Party and its counsel, the Indemnified Parties and their counsel (which shall be reasonably satisfactory to the Indemnifying Party) shall be kept fully informed as to all material aspects of such Third-Party Claim and related Proceedings and shall have the right to participate fully in the prosecution and defense of such Third-Party Claim, as applicable(3) the Indemnifying Party and its counsel shall promptly provide to the Indemnified Parties and their counsel all material information related to such Third-Party Claim and related Proceedings (including copies of written information), for purposes (4) the Indemnified Parties and their counsel shall have their views regarding such Third-Party Claim considered in good faith by the Indemnifying Party and its counsel, and (5) the Indemnified Parties and their counsel shall have the right to consent, such consent not be unreasonably withheld, to the settlement or compromise of such Third-Party Claim and related Proceedings. (iv) In any event, MLIM Parent and BlackRock shall reasonably cooperate in the investigation, pre-trial activities, trial, compromise, settlement, discharge and defense of any claim that a Superior Indemnified Third-Party or Dynamic Indemnified Party, as applicable, may have under Claim subject to this Agreement Article VII and the records and employees of each shall be made reasonably available to the other with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worlddefense.

Appears in 1 contract

Sources: Transaction Agreement and Plan of Merger (Blackrock Inc /Ny)

Third Party Claims. (ai) In If any Indemnified Party receives notice of the event that assertion or commencement of any Action made or brought by any Person desires to make who is not a claim under Sections 10.2 Party or 10.3 in connection with any action, suit, proceeding, an Affiliate of a Party or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder a Representative of the foregoing (a “Third "Third-Party Claim”), ") against such Indemnified Party with respect to which the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Indemnifying Party or Parties required is obligated to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect theretounder this Agreement, provided that failure of the Indemnified Party shall give the Indemnifying Party prompt written notice thereof. The failure to give such prompt written notice shall not not, however, relieve the Indemnifying Parties Party of their obligations under this Article Xits indemnification obligations, except and only to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided extent that the Indemnifying Party confirms forfeits rights or defenses by reason of such failure. Each such notice by the Indemnified Party shall describe the Third-Party Claim in writing reasonable detail, shall include copies of all material written evidence thereof and shall indicate the good faith estimated amount, if reasonably practicable, of the Loss that has been or may be sustained by the subject matter set forth in Indemnified Party. (ii) The Indemnifying Party shall have the right to participate in, or by giving written notice is subject to indemnification the Indemnified Party, to assume the defense of any Third-Party Claim at the Indemnifying Party's expense and by the Indemnifying Party's own counsel, and the Indemnified Party under shall reasonably cooperate in good faith in such defense. If the applicable provisions Indemnifying Party assumes the defense of any such claim or legal proceeding as contemplated in this Article XSection 9.06(a), the Indemnifying Parties will, subject Party shall select counsel reasonably acceptable to the provisions of Section 10.5(c)Indemnified Party (such consent not to be unreasonably withheld, assume delayed or conditioned) to conduct the defense and control of such Third claim or legal proceeding and shall have the right to take any action it deems necessary to avoid, dispute, defend, appeal or make counterclaims with respect to any Third-Party Claim in the name and on behalf of the Indemnified Party. (iii) If the Indemnifying Party assumes the defense of any Third-Party Claim, but shall allow the Indemnified Party a reasonable opportunity shall have the right, at its own cost and expense, to participate in the defense of such Third any Third-Party Claim with its own counsel and at its own expense; providedselected by it, that if an Indemnifying Party is also subject to the Third Indemnifying Party's right to control the defense thereof. (iv) If the Indemnifying Party elects not to compromise or defend such Third-Party Claim or fails to promptly notify the Indemnified Party in writing of its election to defend as provided in this Agreement, the Indemnified Party may, subject to Section 9.06(b), pay, compromise, defend such Third-Party Claim and counsel seek indemnification for any and all Losses based upon, arising from or relating to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Third-Party Claim. (dv) Each of Sellers and Buyer shall cooperate with each other in all reasonable respects in connection with the Parties hereby consents to the nonexclusive jurisdiction defense of any court in which a proceeding in respect of a Third-Party Claim, including making available (subject to Section 6.12) records relating to such Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified and furnishing, without expense (other than reimbursement of actual out-of-pocket expenses) to the defending Party, management employees of the non-defending Party as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a reasonably necessary for the preparation of the defense of such Third-Party with respect to such a claim anywhere in the worldClaim.

Appears in 1 contract

Sources: Share Purchase Agreement (Vse Corp)

Third Party Claims. (ai) In the event that case of any Person desires to make claim asserted by a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder third party (a “Third Party Claim”), the ) against a Person or Persons entitled to indemnification hereunder under this Agreement (the “Indemnified Party”) ), notice shall promptly notify be given by the Indemnified Party or Parties to the party required to provide indemnification hereunder (the “Indemnifying Party”) promptly after such Indemnified Party has actual knowledge of such Third any claim as to which indemnity may be sought. If the Indemnifying Party Claim and the claim of indemnification with respect thereto, provided that failure of provides a written notice to the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. within ten (b10) Upon days after its receipt of notice from of such claim that it will indemnify and hold the Indemnified Party pursuant Parties harmless from all Losses related to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity shall permit the Indemnifying Party (at the expense of such Indemnifying Party) to participate in assume the defense of such Third Party Claim or any Legal Proceeding with its own counsel and at its own expensea third party resulting therefrom; provided, that however, that: (i) the counsel for the Indemnifying Party who shall conduct the defense of such claim or litigation shall be subject to the approval of the Indemnified Party; (ii) the Indemnified Party may participate in such defense at such Indemnified Party’s expense (such expense to be borne by the Indemnified Party only at such times during which the Indemnifying Party has properly assumed and maintained such defense); (iii) except as otherwise provided in this Agreement, the failure by any Indemnified Party to give notice of a Third Party Claim to the Indemnifying Party as provided in this Agreement shall not relieve the Indemnifying Party of its indemnification obligation under this Agreement (or affect such indemnification obligations), except and only to the extent that, as a result of such failure to give notice, the defense against such claim is materially impaired; and (iv) the fees and expenses incurred by the Indemnified Party prior to the assumption of a Third Party Claim hereunder by the Indemnifying Party shall be borne by the Indemnifying Party. (ii) Except with the prior written consent of the Indemnified Party, no Indemnifying Party shall consent or agree to any settlement or entry of any judgment or Order. Without limiting the generality of the immediately preceding sentence, if an Indemnifying Party is also subject consents or agrees to any AmericasActive:13598183.18 settlement or entry of any judgment or Order in contravention of this Agreement, no amounts paid in connection therewith shall be included with respect to the Cap. Notwithstanding the foregoing, except with the prior written consent of the Indemnified Party, no Indemnifying Party, in the defense of any Third Party Claim, shall consent or agree to any settlement or entry of any judgment or Order or enter into any settlement that: (i) includes a finding or admission of any Breach of Law or the rights of any Person; (ii) does not include as an unconditional term thereof the giving by each claimant or plaintiff to such Indemnified Party and its Affiliates of a general release (without payment by, or cost or expense to, or adverse impact upon, the Indemnified Party) from any and all liability directly or indirectly relating to such Third Party Claim; or (iii) that does not provide for the Indemnifying Party to fully pay and discharge all Liabilities directly or indirectly relating to the applicable Third Party Claims. (iii) The Indemnifying Party shall not be entitled to assume or maintain control of the defense against a Third Party Claim and counsel if: (i) the claim for indemnification relates to or arises in connection with any criminal or quasi criminal proceeding, action, indictment, allegation, or investigation; (ii) the claim seeks an injunction, specific performance, or any other equitable or non-monetary relief against the Indemnified Party; (iii) the Indemnified Party reasonably determines in writing has been advised by counsel that a reasonable likelihood exists of a conflict or potential conflict exists of interest between the Indemnifying Party and the Indemnified Party, then Party or that there are legal defenses available to the Indemnified Party and the Indemnifying Parties shall Party which differ; (iv) Liability for claims under Section 6.1 that are reasonably likely to be liable under this Article X for amounts in the fees aggregate in excess of the Cap; (v) the party bringing the claim is a customer or supplier of the Indemnified Party’s Party or the claims relate to environmental or regulatory matters; (vi) the Indemnifying Party fails to reasonably prosecute or defend such claim; or (vii) the Indemnifying Party has not acknowledged in writing its unconditional obligation to indemnify the Indemnified Party for all Liabilities and Losses relating to such Third Party Claim. (iv) If the Indemnifying Party does not accept the defense of a Third Party Claim within ten (10) days after receipt of the written notice thereof from the Indemnified Party described above (or if the Indemnifying Party or claim fails to at all times meet all of the requirements set forth above), the Indemnified Party shall have the full right to defend against any such claim or demand. If the Indemnifying Party elects not to compromise or defend such Third Party Claim, or fails to promptly notify the Indemnified Party in writing of its election to defend as provided in this Agreement, the Indemnified Party may pay, compromise, and defend such Third Party Claim and seek indemnification for any and all Losses based upon, arising from, or relating to such Third Party Claim. In the event the Indemnifying Party fails to accept any settlement offer made by the opposing party or its counsel with respect to any Third Party Claim, any such amounts ultimately payable with respect thereto in excess of such settlement offer (including settlement and defense costs and judgments) shall be paid by the Indemnifying Party without regard to any limitations and such amounts shall not be considered with respect to the Cap. The parties shall cooperate with each other expenses related in all reasonable respects in connection with the defense or prosecution of any Third Party Claim, including making available (subject to applicable confidentiality provisions in this Agreement) records relating to such Third Party Claim and furnishing, without expense (other than reimbursement of actual out-of-pocket expenses) to the defending party, management employees of the non-defending party as may be reasonably necessary for the preparation of the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors Legal fees and consultants costs of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such any Legal Proceeding relating to Third Party Claim; and Claims shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall not be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement counted with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.Cap AmericasActive:13598183.18

Appears in 1 contract

Sources: Asset Purchase Agreement (Rent a Center Inc De)

Third Party Claims. (a) In If the event that any Person desires facts giving rise to make a claim the right of indemnification under Sections 10.1, 10.2 or 10.3 in connection with above involve any action, suit, proceeding, actual or threatened claim or demand at by any time instituted third party against the Claimant or made upon any Person for which such Person may seek indemnification hereunder possible claim by the Claimant against any third party (a “Third "Third-Party Claim"), the Person Indemnifying Party may at its own expense undertake full responsibility for the defense or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) prosecution of such Third Third-Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced therebyClaim. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that So long as the Indemnifying Party confirms has assumed and is conducting the defense of the Third-Party Claim in writing that accordance with this Section 10.4, the subject matter set forth in Indemnifying Party will not consent to the notice is subject entry of any judgment or enter into any settlement with respect to indemnification the Third-Party Claim without the prior written consent of Claimant (which consent will not be unreasonably withheld, conditioned or delayed) unless the judgment or proposed settlement involves only the payment of money damages by the Indemnifying Party under the applicable provisions of this Article X, and does not impose an injunction or other equitable relief upon Claimant. (c) If the Indemnifying Parties will, subject Party fails to the provisions of Section 10.5(c), assume undertake full responsibility for the defense and control or prosecution of such Third a Third-Party Claim, but shall allow (1) the Indemnified Claimant will be entitled to defend or prosecute such Third-Party a Claim with counsel of its own choice (the reasonable opportunity to Fees and Costs of such defense or prosecution being indemnified under this Section 10), (2) the Indemnifying Party at its own expense may nevertheless participate with the Claimant in the defense or prosecution of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Third-Party Claim and counsel any settlement negotiations with respect thereto, and (3) except as provided herein, the Claimant may settle the Third-Party Claim on such terms as it may choose, although it will not reach such a settlement until it has consulted in good faith with the Indemnifying Party. (d) An Indemnifying Party's defense or prosecution of, or participation in, a Third-Party Claim will not in any manner relieve the Indemnifying Party of its obligations to indemnify the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Claimant under this Section 10. The Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any Claimant will cooperate in good faith with each other expenses related to in connection with the defense or settlement of such Third any Third-Party Claim. The Indemnifying Parties shall select counsel, contractors Claim and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take will make available to each other all steps information necessary in or useful to the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Partiesmatter. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Asset Purchase Agreement (Compuware Corp)

Third Party Claims. (a) In the event that If any Person Purchaser Indemnitee desires to make a claim against the Sellers or any Seller Indemnitee desires to make a claim against Purchaser (such Purchaser Indemnitee or Seller Indemnitees an "Indemnified Party") under Sections 10.2 or 10.3 Section 11.2 in connection with any action, suit, proceedinginvestigation, proceeding or demand at any time instituted against or made upon the Indemnified Party by any Person third party for which such Person the Indemnified Party may seek indemnification hereunder (a "Third Party Claim"), such Indemnified Party shall promptly notify in writing (i) in the case of a claim under Section 11.2(a), the Person Seller Representative, (ii) in the case of a claim under Section 11.2(b), the relevant Seller or Persons entitled to indemnification hereunder (iii) in the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder case of a claim under Section 11.2(c), Purchaser (the “in each case, an "Indemnifying Party") of such Third Party Claim and of the Indemnified Party's claim of indemnification with respect thereto; provided, provided that the failure of the Indemnified Party to give such prompt notice so notify shall not relieve the Indemnifying Parties Party(ies) of their obligations under this Article Xhereunder, except to the extent, if at all, extent that the Indemnified Party(ies) are materially prejudiced by such failure. The Indemnifying Parties Party(ies) shall have been prejudiced thereby. thirty (b30) Upon days after receipt of such notice from the to notify such Indemnified Party pursuant to Section 10.5(aif the applicable Indemnifying Party(ies) and provided that the Indemnifying Party confirms in writing that the subject matter set forth (or, in the notice is subject to indemnification by the Indemnifying Party case of a claim under the applicable provisions of this Article XSection 11.2(a), the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees Seller Representative on behalf of the Indemnified Party’s counsel and any other expenses related Sellers) have elected to assume the defense of such Third Party Claim. The If the applicable Indemnifying Parties shall select counselParty(ies) (or, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the case of a claim under Section 11.2(a), the Seller Representative on behalf of the Sellers) elect to assume the defense or of such Third Party Claim, such Indemnifying Party(ies) (or, in the case of a claim under Section 11.2(a), the Seller Representative on behalf of the Sellers) shall be entitled at their own expense to conduct and control the defense and settlement of such Third Party ClaimClaim through counsel of their own choosing on behalf of the applicable Indemnified Party; provided, that the counsel for the Indemnifying Party who shall conduct the defense of such claim or litigation shall be subject to the approval of the Indemnified Party (which approval shall not be unreasonably withheld, conditioned or delayed); and shall at all times diligently and promptly pursue provided further that the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with have the Indemnifying Parties right to participate in the defense of any Third Party Claim defended with counsel selected by it (at the expense of the Indemnified Party) subject to the Indemnifying Party's right to control the defense thereof; and provided further that if and to the extent the Indemnifying Party cannot defend such Third Party Claim on behalf of the Indemnifying Party as a result of a conflict of interest between the Indemnifying Party and the Indemnified Party that cannot be waived, then the Indemnifying Party shall be liable for the reasonable fees and expenses of one (1) counsel to the Indemnified Party. If the Indemnifying Party(ies) (or, in the case of a claim under Section 11.2(a), the Seller Representative on behalf of the Sellers) fail to notify the Indemnified Party within thirty (30) days after receipt of notice of a Third Party Claim that the applicable Indemnifying Party(ies) (or, in the case of a claim under Section 11.2(a), the Seller Representative on behalf of the Sellers) have elected to assume the defense of such Third Party Claim, the Indemnified Party shall be entitled to assume the defense of such Third Party Claim at the expense of the applicable Indemnifying Party(ies); provided, that the Indemnified Party may not compromise or settle any Third Party Claim except as provided in Section 11.3(b). (b) Any compromise, settlement or offer of settlement of any Third Party Claim shall require the prior written consent of the Indemnified Party, which consent shall not be unreasonably withheld, conditioned or delayed. Unless such consent is obtained, the applicable Indemnifying Party(ies) (or, in the case of a claim under Section 11.2(a), the Seller Representative on behalf of the Sellers) shall continue the defense of such claim; provided, that if any Indemnified Party withholds its consent to a bona fide offer of settlement that the applicable Indemnifying Party(ies) (or, in the case of a claim under Section 11.2(a), the Seller Representative on behalf of the Sellers) wish to accept and that involves no payment of money by such Indemnified Party, and further involves no injunctive or other non-monetary relief affecting the Indemnified Party or otherwise limits the future operation of the business, assets or property of the Company or any of the Company Subsidiaries, and that releases such Indemnified Party from all Liability in connection with such claim, the applicable Indemnifying Party(ies) (or, in the case of a claim under Section 11.2(a), the Seller Representative on behalf of the Sellers) may reassign the defense of such claim to such Indemnified Party, who may then continue to pursue the defense of such matter, free of any participation by the Indemnifying PartiesParty(ies) (and, in the case of a claim under Section 11.2(a), the Seller Representative on behalf of the Sellers), at the sole cost and expense of such Indemnified Party. In such event, the Liability of the applicable Indemnifying Party(ies) with respect thereto shall not exceed the amount of the offer of settlement that such Indemnified Party refused to accept plus the costs and expenses of such Indemnified Party prior to the date such Indemnifying Party(ies) (or, in the case of a claim under Section 11.2(a), the Seller Representative on behalf of the Sellers) notified such Indemnified Party of the offer of settlement. (c) The If the Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of Party makes any judgment arising from, payment on any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties Party shall (i) pay or cause be subrogated, to be paid all amounts arising out the extent of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any payment, to all rights and remedies of the assets of any Indemnified Party or agree to any restriction insurance benefits or condition that would apply to or adversely affect any other claims of the Indemnified Party or with respect to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Stock Purchase Agreement (Church & Dwight Co Inc /De/)

Third Party Claims. (a) In the event that any Person desires to make a Buyer Party or the Seller receives a third party claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”), the Person or Persons entitled to ) for which indemnification may be sought hereunder (the “against such Indemnified Party, such Indemnified Party shall promptly provide written notification (a “Third Party Claim Notice”) to the Indemnifying Party (which if the Indemnified Party is a Buyer Party, such Third Party Claim Notice shall promptly notify be sent to the Seller and the Escrow Agent) of such claim after it receives such Third Party or Parties required to provide indemnification hereunder (Claim specifying the “Indemnifying Party”) nature of such Third Party Claim and the amount or estimated amount thereof, together with copies of all notices and documents (including court papers) served on or received by such Indemnified Party, which notice must be identified as a “Third Party Claim Notice.” If the Third Party Claim may result in a claim for Losses payable from the Indemnification Escrow Amount, the Seller shall have the right, at its sole cost and expense, to assume the entire control of indemnification with respect theretothe defense, provided that failure compromise or settlement of such claim (including the selection of counsel reasonably satisfactory to Buyer), subject to the right of the Indemnified Party to give participate (with counsel of its choice, but the fees and expenses of such prompt notice additional counsel shall not relieve solely be at the Indemnifying Parties expense of their obligations under this Article X, except to the extent, if at allIndemnified Party); provided, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from Party will not be entitled to control, and the Indemnified Party pursuant will be entitled to Section 10.5(ahave sole control over, the defense, compromise or settlement of any Third Party Claim (and the cost of such defense and any Losses with respect to such Third Party Claim shall constitute an amount for which the Indemnified Party is entitled to indemnification hereunder) and provided if (A) seeks non-monetary relief, (B) involves criminal or quasi-criminal allegations, (C) involves a claim to which the Indemnified Party reasonably believes an adverse determination would be detrimental to or injure the Indemnified Party’s reputation or future business prospects, (D) involves a claim which, upon petition by the Indemnified Party, the appropriate court rules that the Indemnifying Party confirms failed or is failing to vigorously prosecute or defend, or (E) involves a claim which the Indemnified Party believes in writing that the subject matter set forth in the notice is subject to indemnification good faith could not be satisfied by the Indemnifying Party under if the applicable provisions of this Article X, claim were adversely decided; provided that: if the Indemnifying Parties will, subject named parties to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such any Third Party Claim with its own counsel and at its own expense; provided, that if or proceeding include both an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, and if the Indemnified Party has been advised in writing by counsel that there may be one or more legal defenses available to such Indemnified Party that are different from, or additional to, those available to the Indemnifying Party, then the Indemnifying Parties Indemnified Party shall be liable under this Article X entitled, at the Indemnifying Party’s reasonable cost and expense, to one separate counsel of its own choosing. If the Indemnifying Party shall control the defense of any such claim, (X) each Indemnified Party shall reasonably cooperate with the Indemnifying Party in the defense thereof and (Y) the Indemnifying Party will not compromise or settle, or offer or consent to compromise or settle, any such action, suit, proceeding, claim or demand (other than, after consultation with the applicable Indemnified Party, an action, suit, proceeding, claim or demand to be settled solely by the payment of money damages) that (A) does not involve granting by the Person or Persons asserting such claim or demand of an unconditional release from all liability of the Indemnified Party and its Affiliates with respect to such claim (and any potential similar or analogous claims), (B) involves any non-monetary relief or remedy, including any restrictions on any Indemnified Party’s ability to operate or compete or (C) involves any admission of wrongdoing or violation of law or acknowledges the Indemnified Party’s liability for future acts, in each case without the fees prior written consent of the Indemnified Party, which consent may be withheld in the Indemnified Party’s counsel and any other expenses related to sole discretion. If the Indemnifying Party does not assume the defense of such a Third Party Claim. The Indemnifying Parties shall select counselClaim within thirty (30) days after receipt of the Third Party Claim Notice (or ceases in good faith to continue the defense), contractors and consultants of recognized standing and competence after consultation with then the Indemnified Party; Party shall take all steps necessary in have the defense right to control the defense, compromise or settlement of such Third Party Claim; Claim (including the selection of counsel), subject to the right of the Indemnifying Party to participate (with counsel of its choice, but the fees and shall at all times diligently and promptly pursue the resolution expenses of such Third additional counsel shall solely be at the expense of the Indemnifying Party), and the Indemnified Party Claimwill not compromise or settle any such action, suit, proceeding, claim or demand without the prior written consent of the Indemnifying Party, which consent shall not be unreasonably withheld, conditioned or delayed. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in party hereto that is not conducting the defense of shall provide the party conducting the defense and its counsel with reasonable access during normal business hours to such party’s records and personnel relating to any Third Party Claim defended by and both parties shall otherwise reasonably cooperate in conducting the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere defense in the worlddefense or settlement thereof.

Appears in 1 contract

Sources: Stock Purchase Agreement (Ichor Holdings, Ltd.)

Third Party Claims. (a) In Promptly, and in any event within thirty (30) days, after the event that receipt by any Person desires to make Indemnified Party of notice of the commencement of any Action by or involving a claim under Sections 10.2 or 10.3 in connection with any actionthird party (such Action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”), ) against such Indemnified Party with respect to which the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Indemnifying Party or Parties required is obligated to provide indemnification hereunder (the “under this Agreement, such Indemnified Party shall, if a claim with respect thereto is to be made against any Indemnifying Party”) , give such Indemnifying Party written notice of such Third Party Claim in reasonable detail in light of the circumstances then known to such Indemnified Party, including, if known, the amount or estimated amount of damages sought thereunder to the extent ascertainable, any other remedy sought thereunder and any relative time constraints, together with a copy of the claim written notification of indemnification with respect theretosuch Third Party Claim; provided, provided however, that the failure of the Indemnified Party to give provide such prompt notice within such time period shall not relieve the Indemnifying Parties Party of their its obligations under this Article XXII, except to the extent (and only to the extent, if at all, ) that such failure to give notice shall prejudice any defense or claim available to the Indemnifying Parties shall have been prejudiced therebyParty. (b) Upon receipt The Indemnifying Party may assume and control the defense of notice from any Third Party Claim with counsel reasonably satisfactory to the Indemnified Party, at the Indemnifying Party’s sole expense and the Indemnified Party pursuant to Section 10.5(a) and provided shall cooperate in good faith in such defense; provided, however, that the Indemnifying Party confirms in writing that may not continue to control of the subject matter set forth in the notice is subject to indemnification by defense of any Third Party Claim if the Indemnifying Party under has failed or is failing to diligently defend in good faith the applicable provisions of this Article X, Third Party Claim. If the Indemnifying Parties willParty assumes the defense of any Third Party Claim, subject to Section 12.10(c) it shall have the provisions right to take such action as it deems necessary to avoid, dispute, defend or appear or make counterclaims pertaining to any such Third Party Claim in the name and on behalf of Section 10.5(c), assume the Indemnified Party. (c) If the Indemnifying Party assumes the defense and control of a Third Party Claim, it may settle, compromise, or discharge such Third Party Claim unless the settlement entails an admission of liability on the part of any Indemnified Party or the imposition of injunctive relief on the Indemnified Party or the settlement does not include an unconditional release of each Buyer Indemnified Party or Seller Indemnified Party, as applicable, from all Losses with respect to such Third Party Claim; otherwise, but shall allow in either such case, the consent (such consent not to be unreasonably withheld, conditioned or delayed) of the Indemnified Party a reasonable opportunity to such settlement, compromise, or discharge shall be required and the Indemnified Party shall have the right (but not the obligation) to participate in the defense of such Third Party Claim with its own counsel and to employ, at its own expense; provided, that if an counsel separate from counsel employed by the Indemnifying Party is also Party, subject to the Indemnifying Party’s right to control the defense of the Third Party Claim Claim, except that the fees, costs and expenses of one counsel to and, if necessary, local counsel shall be at the Indemnified expense of the Indemnifying Party reasonably determines in writing that a conflict or potential conflict exists between if the Indemnifying Party and the Indemnified Party, then Party are both named parties to the proceedings and counsel to the Indemnifying Parties Party shall have reasonably determined that representation of both parties by such counsel would violate applicable ethical standards due to actual or potential conflicts of interest between them. If the Indemnifying Party does not assume the defense or if the Indemnifying Party has failed or is failing to diligently defend in good faith the Third Party Claim, then, subject to this Article XII, the Indemnifying Party shall be liable under this Article X for the fees reasonable fees, costs and expenses of one counsel and, if necessary, local counsel to the Indemnified Party’s counsel . (d) Whether or not the Indemnifying Party shall have assumed the defense of a Third Party Claim, the Indemnified Party shall not admit any liability with respect to, settle, compromise or discharge any Third Party Claim without the prior written consent of the Indemnifying Party, such consent not to be unreasonably withheld, conditioned or delayed. (e) Each Party shall cooperate, and cause their respective Affiliates to cooperate, in the defense or prosecution of any Third Party Claim, including making available records relating to such Third Party Claim and furnishing, without expense (other expenses related than reimbursement of actual out-of-pocket expenses) to the defending Party, management and employees of the non-defending party as may be reasonably necessary for the preparation of the defense of such Third Party Claim. The Indemnifying Any consent to be given by the Buyer Indemnified Parties under this Section 12.10 shall select counsel, contractors and consultants be given by Buyer acting on behalf of recognized standing and competence after consultation with the Buyer Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shallParties, and any consent to be given by Seller Indemnified Parties under this Section 12.10 shall cause each be given by Seller acting on behalf of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Seller Indemnified Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Membership Interest Purchase Agreement (Calumet Specialty Products Partners, L.P.)

Third Party Claims. The obligations and liabilities of the Company Stockholders and Acquiror with respect to their respective indemnities pursuant to this Article IX, resulting from any Third Party Claim shall be subject to the following terms and conditions: (a) In The party seeking indemnification (the event that "Indemnified Party") must give the party obligated to indemnify (the "Indemnifying Party"), notice of any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”)Claim which is asserted against, resulting to, imposed upon or incurred by the Person Indemnified Party and which may give rise to liability of the Indemnifying Party pursuant to this Article IX, stating (to the extent known or Persons entitled to indemnification hereunder (reasonably anticipated) the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) nature and basis of such Third Party Claim and the claim of indemnification with respect thereto, provided amount thereof; PROVIDED that the failure to give such notice shall not affect the rights of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, hereunder except to the extent, if at all, extent (i) that the Indemnifying Parties Party shall have been prejudiced therebysuffered actual damage by reason of such failure, or (ii) such failure or delay materially adversely affects the ability of the Indemnifying Party to defend, settle or compromise such Third Party Claim. (b) Upon receipt of notice from the Indemnified Party pursuant Subject to Section 10.5(a9.04(c) and provided that below, if the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control assumes responsibility for Losses arising out of such Third Party Claim, but then the Indemnifying Party shall allow have the Indemnified Party a reasonable opportunity right to participate in undertake, by counsel or other representatives of its own choosing, the defense of such Third Party Claim with its own counsel at the Indemnifying Party's risk and at its own expense; provided, . (c) In the event that if an (i) the Indemnifying Party is also subject shall elect not to the Third Party Claim and counsel to undertake such defense, (ii) within a reasonable time after notice from the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The , the Indemnifying Parties Party shall select counselfail to undertake to defend such Third Party Claim, contractors or (iii) there is a reasonable probability that such Third Party Claim may materially and consultants of recognized standing and competence after consultation with adversely affect the Indemnified Party other than as a result of money damages or other money payments, then the Indemnified Party (upon further written notice to the Indemnifying Party; ) shall take all steps necessary in have the defense right to undertake the defense, compromise or settlement of such Third Party Claim; , by counsel or other representatives of its own choosing, on behalf of and for the account and risk of the Indemnifying Party. In the event that the Indemnified Party undertakes the defense of a Third Party Claim under this Section 9.04, the Indemnifying Party shall at pay to the Indemnified Party, in addition to the other sums required to be paid hereunder, the reasonable costs and expenses incurred by the Indemnified Party in connection with such defense, compromise or settlement as and when such costs and expenses are so incurred. (d) Anything in this Section 9.04 to the contrary notwithstanding, neither the Indemnified Party nor the Indemnifying Party shall, without the other party's written consent (which consent shall not be unreasonably withheld or delayed), settle or compromise such Third Party Claim or consent to entry of any judgment which does not include as an unconditional term thereof the giving by the claimant or the plaintiff to the Indemnified Party of a release from all times diligently liability in respect of such Third Party Claim in form and promptly pursue substance satisfactory to the resolution Indemnified Party. In all cases where such release is granted, if a firm written offer is made to settle any Third Party Claim, and the Indemnifying Party proposes to accept such settlement and the Indemnified Party refuses to consent to such settlement then (A) the Indemnifying Party shall be excused from and the Indemnified Party shall be solely responsible for all further defense of such Third Party Claim. The Indemnified Party shall, and shall cause each ; (B) the maximum liability of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Party relating to such Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a the amount of the proposed settlement of, or if the entry of any judgment arising from, any amount thereafter recovered from the Indemnified Party on such Third Party Claim, without Claim is greater than the consent amount of any the proposed settlement; and (C) the Indemnified Party; but only if the Indemnifying Parties Party shall (i) pay or cause to be paid all amounts arising out attorney's fees and legal costs and expenses incurred after rejection of such settlement or judgment concurrently with by the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected but if the amount thereafter recovered by such Third Party Claim. (d) Each from the Indemnified Party is less than the amount of the Parties hereby consents proposed settlement, the Indemnified Party shall be reimbursed by the Indemnifying Party for such attorney's fees and legal costs and expenses up to the nonexclusive jurisdiction maximum amount equal to the difference between the amount recovered by such Third Party and the amount of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worldproposed settlement.

Appears in 1 contract

Sources: Stock Purchase Agreement (Titan Corp)

Third Party Claims. (a) In The Indemnified Party shall notify the event Indemnifying Party in writing as soon as is reasonably practicable after being informed that any Person desires to make facts exist which may result in a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any originating from a Person for which such Person may seek indemnification hereunder other than the Indemnified Party (a “Third Party Claim”), ) and in respect of which a right of indemnification given pursuant to Section 8.1 may apply which notice shall specify in reasonable detail the Person or Persons entitled facts known to indemnification hereunder (the Indemnified Party”) shall promptly notify Party and the Party or Parties required events giving rise to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, Claim; provided that failure of the Indemnified Party to give provide such prompt notice shall not relieve the Indemnifying Parties Party of their any of its obligations under this Article X, except Agreement unless (and only to the extent, if at all, that extent that) the Indemnifying Parties Party shall have been materially prejudiced thereby. (b) Upon as a result of such failure. The Indemnifying Party shall have the right to elect, by written notice delivered to the Indemnified Party within ten days of receipt by the Indemnifying Party of the notice from the Indemnified Party pursuant to Section 10.5(a) and provided that in respect of the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but at the sole expense of the Indemnifying Party, to participate in or assume control of the negotiation, settlement or defence of the Third Party Claim with counsel of its choice (which counsel shall allow be reasonably satisfactory to the Indemnified Party), provided that: (i) such will be done at all times in a diligent and bona fide manner; (ii) the Indemnifying Party unconditionally acknowledges in writing its obligation to indemnify the Indemnified Party in accordance with the terms contained in this Agreement in respect of that Third Party Claim; (iii) in the case of a reasonable opportunity Third Party Claim in respect of Taxes asserted to be payable by a Purchased Entity or one of their respective Subsidiaries, the Indemnifying Party shall pay any contested Taxes when required by applicable Law (including for greater certainty any amounts required to be paid pending final determination of the amount of such contested Taxes); and (iv) notwithstanding anything in this Section 8.3(b) to the contrary, if the claim for indemnification with respect to a Third Party Claim relates to or arises in connection with any criminal Claim, the Indemnified Party shall be entitled to jointly control the defence thereof with the Indemnifying Party (and to employ counsel reasonably acceptable to the Indemnifying Party, at its own expense) for so long as such criminal Claim has not been finally resolved. If the Indemnifying Party elects to assume such control, (A) the Indemnified Party shall reasonably co-operate with the Indemnifying Party and its counsel in the defence or prosecution thereof and (B) the Indemnified Party shall have the right to participate in the defense negotiation, settlement or defence of such Third Party Claim with its own counsel and at its own expense; , provided, however, that if an such Indemnified Party shall be entitled to participate in any such defence with separate counsel at the expense of the Indemnifying Party is also subject if (1) so requested by the Indemnifying Party to participate with separate counsel, (2) the named parties to the Third Party Claim include the Indemnified Party and the Indemnifying Party and, in the reasonable opinion of counsel to the Indemnified Party there exists or is reasonably determines in writing that likely to exist a conflict or potential conflict exists of interest between the Indemnified Party and the Indemnifying Party and that would make such separate representation advisable, or (3) in the reasonable opinion of the Indemnified Party, then the Indemnifying Parties Party is not conducting the defence of such Third Party Claim diligently and in a bona fide manner. Notwithstanding the foregoing, the Indemnifying Party shall be liable under this Article X for the fees and expenses of the Indemnified Party’s Party reasonably necessary to defend such Third Party Claim incurred by the Indemnified Party for any period during which the Indemnifying Party has not assumed the defence thereof, and such fees and expenses shall constitute Damages for purposes of this Agreement. If the Indemnifying Party does not elect to assume such control, the Indemnified Party shall be entitled to assume such control. In the event that the Indemnified Party is, directly or indirectly, conducting the defence against any such Third Party Claim in accordance with this Section 8.3(b), the Indemnifying Party shall reasonably co-operate with the Indemnified Party and its counsel and any other expenses related in the defence or prosecution thereof and, subject to Section 8.3(a) the defense of Indemnifying Party shall be bound by the results obtained by the Indemnified Party with respect to such Third Party Claim. The Indemnifying Parties Under no circumstances shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of Party settle any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect which is not to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worldunreasonably withheld.

Appears in 1 contract

Sources: Purchase Agreement (HudBay Minerals Inc.)

Third Party Claims. (a) In the event that any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the If an Indemnified Party gives notice to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a7.5(a) and provided that of the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions assertion of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such a Third Party Claim, but the Indemnifying Party shall allow the Indemnified Party a reasonable opportunity be entitled to participate in the defense of such Third Party Claim with its own counsel and at its own expense; providedand, to the extent that if an it wishes (unless (i) the Indemnifying Party is also subject to a Person against whom the Third Party Claim is made and counsel the Indemnified Party determines in good faith that joint representation would be inappropriate, (ii) the Indemnifying Party fails to provide reasonable assurance to the Indemnified Party reasonably of its financial capacity to defend such Third Party Claim and provide indemnification with respect to such Third Party Claim, or (iii) the Indemnified Party determines in writing good faith that there is a reasonable probability that a conflict Third Party Claim may materially and adversely affect it or potential conflict exists between its Affiliates other than as a result of monetary damages for which it would be entitled to indemnification under this Agreement), to assume the defense of such Third Party Claim with counsel reasonably satisfactory to the Indemnified Party. After notice from the Indemnifying Party and to the Indemnified PartyParty of its election to assume the defense of such Third Party Claim, then the Indemnifying Parties Party shall not, so long as it diligently conducts such defense, be liable to the Indemnified Party under this Article X VII for the any fees of the Indemnified Party’s other counsel and or any other expenses related with respect to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation in each case subsequently incurred by the Indemnified Party in connection with the Indemnified Party; shall take all steps necessary in defense of such Third Party Claim. If the Indemnifying Party assumes the defense of a Third Party Claim, no compromise or settlement of such Third Party ClaimClaims may be effected by the Indemnifying Party without the Indemnified Party’s prior written consent unless (A) there is no finding or admission of any violation of Applicable Law or any violation of the rights of any Person; and shall at all times diligently (B) the sole relief provided is monetary damages that are paid in full by the Indemnifying Party. If notice is given to an Indemnifying Party of the assertion of any Third Party Claim and promptly pursue the resolution Indemnifying Party does not, within 30 days after the Indemnified Party’s notice is given, give notice to the Indemnified Party of its election to assume the defense of such Third Party Claim. The , or if the Indemnified Party shallassumes the defense of the claim as a result of any of the exceptions to the Indemnifying Party’s right to defend the claim as set forth herein, and shall cause each of its Affiliates and representatives to, cooperate fully the Indemnified Party may proceed with the defense of such Third Party Claim; provided, that the Indemnifying Parties in the defense Party will not be bound by any determination of any Third Party Claim so defended by for the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process any compromise or settlement effected without its prior written consent (which may not be served on a Party with respect to such a claim anywhere in the worldunreasonably withheld, conditioned or delayed).

Appears in 1 contract

Sources: Merger Agreement (First Financial Bancorp /Oh/)

Third Party Claims. The following provisions shall apply to any Claim for Losses subject to indemnification under this Agreement that is a Proceeding filed or instituted by, or the making of any Claim or demand by, any third party, including any Governmental Authority (aa "Third Party Claim"): (i) In The Indemnified Party or Parties shall give the event that Indemnifying Party or Parties prompt written notice of the Third Party Claim (the "Third Party Claim Notice"), specifying the factual basis of the Third Party Claim in reasonable detail to the extent then known by the Indemnified Party. Failure to promptly give the Third Party Claim Notice shall not affect the Indemnifying Party's duties or obligations under this Section 11, to the extent it does not materially adversely affect the Indemnifying Party's ability to defend such Claim, and then only to the extent of such adverse effect. (ii) Within 30 days after the Third Party Claim Notice is received from the Indemnified Party, or such shorter period as is required to avoid prejudice in any Person desires Claim, suit or Proceeding, the Indemnifying Party shall have the right to make a claim under Sections 10.2 or 10.3 assume and thereafter conduct the defense of the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party. If the Indemnifying Party has assumed the defense of the Third Party Claim as provided herein, the Indemnifying Party will not be liable for any legal expenses subsequently incurred by the Indemnified Party in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “the defense of the Third Party Claim”); provided, the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at allhowever, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that if the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject fails to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject take reasonable steps necessary to the provisions of Section 10.5(c), assume the defense and control of defend diligently such Third Party Claim, but shall allow the Indemnified Party a may assume its own defense, and the Indemnifying Party will be liable for all reasonable opportunity costs and expenses actually paid or incurred in connection with such defense. The Indemnifying Party or the Indemnified Party, as the case may be, has the right to participate in the defense of such Third Party Claim with its own counsel and (but not control), at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by which the Indemnifying Parties. (c) other is defending as provided herein. The Indemnifying Parties shall be authorized Party, if it has assumed the defense of any Third Party Claim, must conduct the defense of the Third Party Claim actively and diligently thereafter in order to preserve its rights and may not, without the prior written consent of the Indemnified Party, consent to a settlement of, or the entry of any judgment arising from, or enter into any settlement with respect to the Third Party Claim that (i) does not include as an unconditional term thereof the giving by the claimant or the plaintiff to the Indemnified Party a complete release from all Liability in respect of such Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber grants any of the assets of any Indemnified Party injunctive or agree to any restriction equitable relief or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each may reasonably be expected to have an adverse effect on the business of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Asset Purchase Agreement (Vertex Energy Inc.)

Third Party Claims. (ai) In the event that any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure Upon issuance of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt commencement of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such any Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity shall, at the request of the Indemnifying Party, make available to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to a copy of the Third Party Claim and counsel to documents/ information/ correspondence available with the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party relating to and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and substantiating any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counselParty shall, contractors and consultants of recognized standing and competence after consultation with prior written notice to the Indemnified Party; shall take all steps necessary in Party (“Indemnifying Party Notice”), be entitled to undertake, conduct and control the defense or settlement proceedings of such Third Party Claim; , with counsel of its (Indemnifying Party’s) choice, so long as the defense proceedings are undertaken, conducted and controlled in a reasonable manner and in good faith. (ii) If, the Indemnifying Party elects to undertake, conduct and control the defense proceedings in connection with a Third Party Claim (as provided for under Clause 13.6.2(i) above): (a) the Indemnifying Party shall remain responsible for any and all Losses that the Indemnified Party may suffer resulting from or arising out of or relating to or in the nature of or caused by the Third Party Claim to the fullest extent and as provided in this Clause 13; (b) the Indemnified Party, at all times diligently its own cost and promptly pursue expense (which shall not be subject to indemnification by the resolution Indemnifying Party) participate in the defense proceedings (as aforesaid) in connection with the said Third Party Claim so long as such participation does not prejudice the defense proceedings being undertaken by the Indemnifying Party; (c) so long as the Indemnifying Party is defending a Third Party Claim in a reasonable manner and in good faith, the Indemnified Party shall not, on its sole discretion and initiative, and without prior written consent of the Indemnifying Party (which consent shall not to be unreasonably withheld by the Indemnifying Party), settle or compromise such Third Party Claim. The Indemnified Party shall; (d) notwithstanding the foregoing, and shall cause each of its Affiliates and representatives to, cooperate fully with in the event: (x) the Indemnifying Parties in Party does not within 30 (thirty) days from the date of the Indemnifying Party Notice, undertake, conduct and control the defense of any proceedings in connection with a Third Party Claim defended after electing to control the same; or (y) upon having assumed the conduct and control of the defense proceedings, the Indemnifying Party is not defending the Third Party Claim in a reasonable manner and in good faith and this fact has been demonstrated by the Indemnifying Parties.Indemnified Party, the Indemnified Party may, on its own accord and in its sole discretion and interest, choose to defend the Third Party Claim. In such an event, the Indemnified Party shall also be entitled to settle or compromise such Third Party Claim; (ce) The Indemnifying Parties shall be authorized For avoidance of doubt, it is clarified that in the event the Indemnified Party proceeds to consent to a settlement of, the settle or the entry of any judgment arising from, compromise any Third Party Claim, without the prior written consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with Party, where the effectiveness of such settlement; (ii) not encumber any Indemnifying Party having assumed the conduct and control of the assets of defense proceedings in connection with any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of , is defending the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-said Third Party Claim is brought against any Superior in a reasonable manner and in good faith, the Indemnified Party or Dynamic shall be deemed to have waived its (Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect ’s) right to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.indemnified;

Appears in 1 contract

Sources: Joint Venture Agreement (Loop Industries, Inc.)

Third Party Claims. (a) In If any Claiming Party receives written notice of a third-party claim that the event that any Person desires to make Claiming Party reasonably believes may result in a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder Liability Claim (a “Third Party Claim”), such Claiming Party will notify Purchaser, the Person or Persons entitled to indemnification hereunder (Representative or, in the “Indemnified Party”) shall promptly notify case of a Third Party Claim that may result in a Direct Securityholder Claim, the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) applicable Indemnitor of such Third Party Claim (as the case may be, the “Indemnifier”), and the Indemnifier, at such Person’s own cost, shall have the right to direct and conduct, any defense of such claim if the Indemnifier shall provide written notice to the Claiming Party of indemnification with respect thereto, provided that failure its election to assume such defense prior to the expiration of the Indemnified thirty (30) day response period specified in Section 7.5 (Objections to and Payment of Claims); provided, that (A) the Claiming Party may participate in any proceeding with counsel of its choice and at its expense; (B) Purchaser, at any time when it believes in good faith that any Third Party Claim is having or could reasonably be expected to give have an adverse effect on Purchaser or any of its subsidiaries, may assume the defense and otherwise deal with such prompt notice Third Party Claim in good faith, with counsel of its choice, and be fully indemnified therefor; (C) the Purchaser may assume the defense and otherwise deal with such Third Party Claim in good faith with counsel of its choice, and be fully indemnified therefor, if the reasonably anticipated Loss that may be incurred by Purchaser (without giving effect to the limitations of this Article 7, including Section 7.2(d) (Indemnification) and Section 7.3(f) (Limitations on Indemnification)) would exceed the amount for which Purchaser may be indemnified hereunder; (D) Purchaser, at any time when it believes that a claim for indemnification relates to or arises in connection with any criminal proceeding, indictment or investigation, may assume the defense and otherwise deal with such Third Party Claim in good faith with counsel of its choice, and be fully indemnified therefor; (E) the Indemnifier may not assume the defense of any Third Party Claim if an actual conflict of interest exists between the Indemnifier and the Claiming Party that precludes effective joint representation; and (F) the Claiming Party may take over the defense and prosecution of a Third Party Claim from the Indemnifier if the Indemnifier has failed or is failing to vigorously prosecute or defend such Third Party Claim; provided, further, that any such settlement or resolution shall not relieve be concluded without the Indemnifying Parties prior written approval of their obligations under this Article Xthe Claiming Party, except such approval not to be unreasonably withheld, delayed or conditioned. For purposes of the extentpreceding sentence, if at allwithholding, delaying or conditioning approval shall not be deemed unreasonable in the following circumstances relating to such settlement or resolution: (A) a finding or admission of any violation by the Purchaser of any Law or of any rights of any Person; (B) failure to receive a full release of claims that may be made against the Indemnifying Parties shall have been prejudiced therebyClaiming Party and its Affiliates; and (C) granting of any relief other than monetary Losses that are paid in full by the party from whom indemnification is sought that would affect the Claiming Party. (b) Upon receipt of notice from In the Indemnified Party pursuant event the Indemnifier does not elect to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel in the manner and at its own expense; providedwithin such thirty (30) day response period, that if an Indemnifying the Claiming Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to may conduct the defense of such Third claim at the expense of the Claiming Party; provided, however, that if it is ultimately determined that the Claiming Party Claimis entitled to indemnification hereunder, such expenses shall be included in the calculation of Losses that the Claiming Party is entitled to recover pursuant to the terms hereof. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary Indemnifier may also participate in the defense of such claim at its sole cost and expense. The Claiming Party shall have the right to settle or settlement of resolve any such Third Party Claim; provided, however, that any such settlement or resolution shall not be concluded without the prior written approval of the Purchaser and shall at all times diligently and promptly pursue either the resolution of such Third Party Claim. The Indemnified Party shallRepresentative or, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense case of a Direct Securityholder Claim, the applicable Indemnitor, such approval not to be unreasonably withheld, delayed or conditioned if such settlement results in, or could reasonably be expected to result in, such party (x) being required to pay any Third Party Claim defended by the Indemnifying Partiesmonetary penalty, or (y) becoming subject to any Order, injunction or any other similar equitable remedy. (c) The Indemnifying Parties Each party shall be authorized to consent to reasonably cooperate with the party controlling defense of a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties Claim and shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect make available to such proceeding party all pertinent information under his, her or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worldits control.

Appears in 1 contract

Sources: Purchase Agreement (Agenus Inc)

Third Party Claims. (ai) In Promptly after receipt by any Indemnified Party of notice of the event that commencement of any Person desires action by a third party in respect of which the Indemnified Party would be entitled to make a claim indemnification under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder ARTICLE IX (a "Third Party Claim"), the Person Indemnified Party shall notify the Representative in writing (an "Indemnification Notice"), who shall in turn notify each person that is obligated to provide such indemnification (an "Indemnifying Party") thereof in writing, but any failure to so notify the Representative or Persons entitled the Indemnifying Party, as the case may be, shall not relieve the Indemnifying Party from any liability that it may have to indemnification hereunder the Indemnified Party other than, in the case of a failure to notify the Representative, to the extent the Indemnifying Party is materially prejudiced thereby or such Indemnification Notice is not delivered by the Indemnified Party to the Representative within twelve (12) months following the Closing Date as required by Section 9.2(i). Such notification shall include a description in reasonable detail (to the extent known by the Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of the facts constituting the basis for such Third Party Claim and the claim amount of indemnification with respect theretothe Damages claimed. (ii) The Representative shall, provided that failure for and on behalf of the Indemnifying Party, have the right to assume control of the defense of the Indemnified Party against the Third Party Claim with counsel reasonably satisfactory to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extentIndemnified Party or, if at allthe Representative does not assume such defense, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth participate in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow . (iii) So long as the Representative is conducting the defense of the Third Party Claim (A) the Indemnified Party a reasonable opportunity shall be entitled to participate in the defense of such Third Party Claim with its own and to employ counsel and at its own expensecost and expense (which cost and expense shall not constitute Damages) to assist in the handling of such Third Party Claim; provided, however, that if an such Indemnified Party shall be entitled to participate in any such defense with separate counsel at the expense of the Indemnifying Party is also subject if (x) so requested by the Representative on behalf of the Indemnifying Party, to participate or (y) in the Third Party Claim and reasonable opinion of counsel to the Indemnified Party reasonably determines in writing that Party, a conflict or potential conflict exists between the Indemnified Party and the Indemnifying Party that would make such separate representation advisable and (B) the Representative shall not consent to the entry of any Judgment or enter into any settlement that subjects the Indemnified Party to any injunctive relief or other equitable remedy or does not include as an unconditional term thereof the giving by each claimant or plaintiff to each Indemnified Party of a release from all liability in respect of such Third Party Claim, unless with the consent of each Indemnified Party. (iv) Notwithstanding the foregoing, if with respect to a Third Party Claim, (A) such Third Party Claim seeks equitable relief that would materially adversely affect the ongoing business of any of the Indemnified Parties (including its relationships with current or potential customers, suppliers or other parties material to the conduct of its business) if such Third Party Claim is decided against any of the Indemnified Parties, (B) the Representative, on behalf of the Indemnifying Party, does not provide the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Representative, on behalf of the Indemnifying Party, will have adequate financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) such Third Party Claim relates to or otherwise arises in connection with Intellectual Property or any criminal or regulatory enforcement Action, (D) the Representative, on behalf of the Indemnifying Party, does not actively and diligently conduct the defense of the Third Party Claim, (E) the Indemnified Party has been advised by counsel that (x) there are one or more legal or equitable defenses available to it with a reasonable prospect of success which are not available to the Representative or the Indemnifying Party or (y) there exists a reasonable likelihood of a conflict of interest between the Indemnified Party and the Representative or the Indemnifying Party; (F) the Third Party Claim could reasonably be expected to give rise to Damages which are more than two times (2x) the aggregate amount remaining to be indemnified under the Escrow Amount after giving effect to all other claims paid or pending claims pursuant to Section 9.1, (G) the Third Party Claim relates to or arises in connection with any criminal proceeding, indictment, allegation or investigation of the Indemnified Party, then then, in any such case, the Indemnifying Indemnified Parties shall be liable under this Article X for the fees entitled to assume control of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim, including the right to contest and defend such Third Party Claim in the first instance and to settle such Third Party Claim with the consent of the Representative, on behalf of the Indemnifying Party, which consent shall not be unreasonably withheld, conditioned or delayed. The If the Indemnified Parties do not contest and defend such Third Party Claim, the Representative, on behalf of the Indemnifying Parties Party, shall select counsel, contractors have the right to contest and consultants defend such Third Party Claim and to settle such Third Party Claim with the consent of recognized standing and competence after consultation with the Indemnified Party; , which consent shall take all steps necessary not be unreasonably withheld, conditioned or delayed, subject to Section 9.5(a)(ii). If the Indemnified Parties shall have exercised the right to contest, defend and settle any such Third Party Claim instead of the Representative, by reason of the foregoing provisions of this Section 9.5(a)(iv), the Representative, on behalf of the Indemnifying Party, shall be entitled, at the cost and expense of the Indemnifying Party, to participate in the defense or settlement of such Third Party Claim; Claim and to employ counsel. (v) If for any reason the Representative does not assume and conduct the defense of the Third Party Claim on behalf of the Indemnifying Party, the Indemnified Party shall have the right to defend such Third Party Claim at all times diligently the cost and expense of the Indemnifying Party, and the Indemnifying Party will promptly pursue reimburse the resolution Indemnified Party therefor in accordance with this Section 9.5(a), subject to the limitations set forth herein. (vi) The reimbursement of fees, costs and expenses incurred by the Indemnified Party as required by this Section 9.5(a) shall be made from the Escrow Fund by periodic payments during the course of the investigations or defense, as and when bills are received or expenses incurred. (vii) The party controlling the defense of the Third Party Claim shall keep the other party advised of the status of such Third Party Claim. The Indemnified Party shall, Claim and the defense thereof and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended consider recommendations made by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement party with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worldthereto.

Appears in 1 contract

Sources: Merger Agreement (Acorda Therapeutics Inc)

Third Party Claims. If a Transferor Indemnification Claim arises a result of or in connection with or in relation to a claim by a third party (“Transferor Third Party Claim”): (a) In the event that any Person desires to make a claim Transferor Indemnified Parties shall, within 10 (Ten) Business Days from the receipt of written notice of such Transferor Third Party Claim, notify the Buyer in writing (“Transferor Third Party Claim Notice”). The Transferor Third Party Claim Notice shall specify (i) details of the amount claimed by third party under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder the Transferor Third Party Claim (a Transferor Third Party Claim”), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or events and circumstances giving rise to the conduct of any Indemnified Party’s businessLosses along with supporting documentation to enable the Buyer to assess the Loss; and (iii) obtainspecific provision of the Agreement pursuant to which the claim is being made, as to the extent available with the Transferor Indemnified Parties. Provided, however, that any failure to provide a condition Transferor Third Party Claim Notice shall not affect the Buyer’s obligation to indemnify, defend and hold harmless the Transferor Indemnified Parties under this Clause 11A (Buyer Indemnification) save and except to the extent such delay results in: (i) an increase in the amount of any settlement Loss suffered or other resolutionincurred by the Transferor Indemnified Parties, a complete release in which case the Buyer shall not be liable for such increased Loss; or (ii) prejudices the right or ability of any Indemnified Party potentially affected by such the Buyer to defend the Transferor Third Party Claim., in which case the Buyer shall not be liable for any increase in Loss on account of such right or ability being prejudiced; (db) Each The Buyer, shall, within the earlier of (A): 20 (Twenty) Business Days of receipt of the Parties hereby consents Transferor Third Party Claim Notice; and (B) 2 (Two) Business Days prior to the nonexclusive jurisdiction expiry of any court the timeline for response specified in which the Transferor Third Party Claim: (i) issue a proceeding notice in respect writing accepting the Transferor Third Party Claim Notice (“Transferor Third Party Claim Notice Acceptance”), and notify the Transferor Indemnified Parties in writing, that it intends to assume the defence of the Transferor Third Party Claim (not being a Transferor Excluded Third Party Claim) described in the Transferor Third Party Claim Notice; or (ii) issue a Transferor Third Party Claim Notice Acceptance, and notify the Transferor Indemnified Parties in writing, that it does not intend to assume the defence of the Transferor Third Party Claim described in the Transferor Third Party Claim Notice; or (iii), issue a notice in writing rejecting the Transferor Third Party Claim Notice (“Transferor Third Party Claim Notice Rejection”). Provided that if the Buyer issues a Transferor Third Party Claim Notice Rejection, then the Buyer shall not be entitled to defend or take control of such Transferor Third Party Claim, unless the prior written consent of the Transferor is obtained. It is hereby clarified that the Buyer shall not be entitled to assume control or defence of a Third-Transferor Third Party Claim which (x) is brought criminal in nature or threatens in writing the initiation of criminal Proceedings; and/or (y) seeks as a remedy or prayer, an injunction on the business or operations of the Transferor (each a “Transferor Excluded Third Party Claim”). Provided that in case a Transferor Excluded Third Party Claim also seeks monetary recourse against any Superior Indemnified Party or Dynamic Indemnified Partythe Transferor, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect the Buyer shall consult the Transferor in relation to such proceeding or the matters alleged therein and agree that process may be served on a Transferor Excluded Third Party with respect to such a claim anywhere in the world.Claim;

Appears in 1 contract

Sources: Business Transfer Agreement

Third Party Claims. (ai) In Promptly after receipt by a Person entitled to be indemnified under this Article 7 (an "Indemnified Party") of notice of the event that commencement of any Person desires to make Proceeding against it, such Indemnified Party will, if a claim for indemnification is to be made against a Party (an "Indemnifying Party") under Sections 10.2 or 10.3 in connection with any actionthis Article 7, suit, proceeding, or demand at any time instituted against or made upon any Person for which give notice to the Indemnifying Party of the commencement of such Person may seek indemnification hereunder (a “Third Party Claim”), the Person or Persons entitled Proceeding. The failure to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Indemnifying Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall will not relieve the Indemnifying Parties Party of their obligations under this Article X, any liability that it may have to an Indemnified Party except to the extent, if at all, extent that the Indemnifying Parties shall have been defense of such action was irreparably and materially prejudiced therebyby the Indemnified Party's failure to provide prompt notice. (bii) Upon receipt If any Proceeding is brought against an Indemnified Party and it gives notice to the Indemnifying Party of notice from the commencement of such Proceeding, the Indemnifying Party will, unless the claim involves Taxes, be entitled to participate in such Proceeding and, to the extent that it wishes (unless (A) the Indemnifying Party is also a party to such Proceeding and the Indemnified Party pursuant to Section 10.5(adetermines in good faith that joint representation would be inappropriate or (B) and provided that the Indemnifying Party confirms fails to provide reasonable assurances to the Indemnified Party of its financial capacity to defend such Proceeding and provide indemnification with respect to such Proceeding), to assume the defense of such Proceeding with counsel satisfactory to the Indemnified Party. Following a proper assumption of defense by an Indemnifying Party, as long as the Indemnifying Party diligently conducts such defense it will not be liable for any subsequent fees of legal counsel or other expenses incurred by the Indemnified Party in writing connection with the defense of such Proceeding, other than reasonable costs of investigation. If the Indemnifying Party assumes the defense of a Proceeding, (A) it will be conclusively established for purposes of this Agreement that the subject matter set forth claims made in that Proceeding are within the notice is scope of and subject to indemnification indemnification; (B) no compromise or settlement of such claims may be effected by the Indemnifying Party under without the applicable provisions Indemnified Party's consent unless (x) there is no finding or admission of this Article Xany violation of Legal Requirements or any violation of the rights of any Person and no effect on any other claims that may be made by or against the Indemnified Party, and (y) the sole relief provided is monetary damages that are paid in full by the Indemnifying Parties will, subject to Party concurrently with the provisions of Section 10.5(c), assume the defense compromise or settlement; and control of such Third Party Claim, but shall allow (C) the Indemnified Party a reasonable opportunity will have no liability with respect to participate in any compromise or settlement of such claims effected without its consent. If notice is given to an Indemnifying Party of the commencement of any Proceeding and the Indemnifying Party does not within ten days give notice to the Indemnified Party of its election to assume the defense of such Third Party Claim with its own counsel and at its own expense; providedProceeding, that if an the Indemnifying Party will be bound by any determination made in such Proceeding or any compromise or settlement effected by the Indemnified Party. (iii) If any Party determines in good faith that there is also subject a reasonable probability that a Proceeding may adversely affect it or its Affiliates other than as a result of monetary damages for which it would be entitled to the Third Party Claim and counsel to indemnification under this Agreement, the Indemnified Party reasonably determines in writing that a conflict may, by notice to the Indemnifying Party, assume the exclusive right to defend, compromise or potential conflict exists between settle such Proceeding, but the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall will not be liable under this Article X for the fees bound by any determination of the Indemnified Party’s counsel and a Proceeding so defended or any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense compromise or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of effected without its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Partiesconsent (which may not be unreasonably withheld). (civ) The Indemnifying Parties shall be authorized will make available to consent each other and each other's legal counsel and other professional advisors all of its books and records relating to a settlement of, or the entry of any judgment arising from, any Third third-party claim and each Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or will render to the conduct other assistance as may be reasonably required in order to insure the proper and adequate defense of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claimthird-party claim. (dv) Each of the Parties Party hereby consents to the nonexclusive non-exclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim Proceeding is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior an Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding Proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worldtherein.

Appears in 1 contract

Sources: Stock Purchase Agreement (Universal Communication Systems Inc)

Third Party Claims. (a) In Subject to Section 8.4(b), any Indemnified Party under this Article VIII shall have the event that right to conduct and control, through counsel of its choosing, any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any third party claim, action, suit, proceeding, investigation or demand at any time instituted against or made upon any Person other claim giving rise to a claim for which such Person may seek indemnification hereunder (a "Third Party Claim”), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”") shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect theretoIndemnified Party may compromise or settle the same, provided that failure of the Indemnified Party to shall give such prompt the Indemnitor at least 10 days' advance notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict any proposed compromise or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claimsettlement. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with permit the Indemnifying Parties Indemnitor to participate in the defense of any Third Party Claim defended through counsel chosen by it, provided that the fees and expenses of such counsel shall be borne by the Indemnifying PartiesIndemnitor. Subject to Section 8.4(b), any compromise or settlement with respect to a claim for money damages effected after the Indemnitor by notice to the Indemnified Party shall have disapproved such compromise or settlement shall discharge the Indemnitor from liability with respect to the subject matter thereof, and no amount in respect thereof shall be claimed as Loss or Expense under this Article VIII. (cb) The Indemnifying Parties shall be authorized to consent to a settlement ofIf the remedy sought in any Third Party Claim is solely money damages and will have no continuing effect on the business, reputation or the entry future business prospects of any judgment arising fromIndemnified Party, any the Indemnitor shall have 15 days after receipt of the notice referred to in the last sentence of Section 8.3(a) to notify the Indemnified Party that it elects to conduct and control such Third Party Claim. If the Indemnitor gives the foregoing notice, the Indemnitor shall have the right to undertake, conduct and control, through counsel of its own choosing and at the sole expense of the Indemnitor, the conduct and settlement of such Third Party Claim, without and the consent Indemnified Party shall cooperate with the Indemnitor in connection therewith; provided that (x) the ------------- Indemnitor shall not thereby permit to exist any lien, encumbrance or other adverse charge upon any asset of any Indemnified Party; (y) the Indemnitor shall permit the Indemnified Party to participate in such conduct or settlement through counsel chosen by the Indemnified Party, but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out fees and expenses of such settlement or judgment concurrently with counsel shall be borne by the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s businessexcept as provided in clause (z) below; and (iiiz) obtain, as a condition the Indemnitor shall agree promptly to reimburse the Indemnified Party for the full amount of any settlement Loss arising from or other resolutionrelating to such Third Party Claim and all related Expense incurred by the Indemnified Party, a complete release except fees and expenses of any counsel for the Indemnified Party potentially affected incurred after the assumption of the conduct and control of such Third Party Claim by the Indemnitor. So long as the Indemnitor is contesting any such Third Party Claim in good faith, the Indemnified Party shall not pay or settle any such Third Party Claim. (d) Each of . Notwithstanding the Parties hereby consents foregoing, the Indemnified Party shall have the right to pay or settle any such Third Party Claim without the nonexclusive jurisdiction of Indemnitor's approval, provided that in such event the Indemnified Party shall waive any court in which a proceeding right to indemnity therefor by the Indemnitor, and no amount in respect of a Third-Party Claim is brought against any Superior Indemnified Party thereof shall be claimed as Loss or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have Expense under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worldArticle VIII.

Appears in 1 contract

Sources: Stock Purchase Agreement (Staar Surgical Company)

Third Party Claims. (a) In If any Indemnified Party receives notice of the event that any Person desires to make a claim under Sections 10.2 assertion or 10.3 in connection with commencement of any action, suit, proceeding, claim or demand at any time instituted against other Proceeding made or made upon brought by any Person for which such Person may seek indemnification hereunder who is not a party to this Agreement or an Affiliate of a party to this Agreement or a Representative of the foregoing (a “Third Party Claim”)) against such Indemnified Party with respect to which the Indemnifying Party is obligated to provide indemnification under this Agreement, the Person Indemnified Party shall give the Indemnifying Party prompt written notice thereof (a “Claim Notice”). The failure to give such prompt written notice shall not, however, relieve the Indemnifying Party of its indemnification obligations, except to the extent that the Indemnifying Party forfeits rights or Persons defenses by reason of such failure. The Claim Notice shall describe the Third Party Claim in reasonable detail, shall include copies of all material written evidence thereof and shall indicate the estimated amount, if reasonably practicable, of the Loss that has been or may be sustained by the Indemnified Party. The Indemnifying Party shall have the right to participate in, or by giving written notice to the Indemnified Party, to assume the defense of any Third Party Claim at the Indemnifying Party’s expense and by the Indemnifying Party’s own counsel, and the Indemnified Party shall cooperate in good faith in such defense; provided, that, notwithstanding the foregoing, the Indemnifying Party will not be entitled to control, and the Indemnified Party will be entitled to have control over, the defense or settlement of any Third Party Claim (and the reasonable cost of such defense and any Losses with respect to such Third Party Claim shall constitute an amount for which the Indemnified Party is entitled to indemnification hereunder to the extent constituting indemnifiable Losses hereunder) if (i) the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and involves a criminal or quasi-criminal proceeding, action, indictment, allegation or investigation, (ii) the claim of indemnification with respect theretoThird Party Claim seeks injunctive relief or other non-monetary equitable relief, provided that failure of (iii) the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow if adversely determined, could result in suspension or debarment of Purchaser by a Governmental Authority, or (iv) the Indemnified Party has been advised in writing by legal counsel that a reasonable opportunity to participate in the defense conflict of such Third Party Claim with its own interest exists which, under applicable principles of legal ethics, would prohibit a single legal counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to from representing both the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between and the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of in such Third Party Claim. The In the event that the Indemnifying Parties Party assumes the defense of any Third Party Claim, subject to this Section 8.05(a), the Indemnifying Party shall select counselhave the right to take such action as it deems reasonably necessary to avoid, contractors dispute, defend, appeal or make counterclaims pertaining to any such Third Party Claim in the name and consultants on behalf of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shallshall have the right, at its own cost and shall cause each of its Affiliates and representatives toexpense, cooperate fully with the Indemnifying Parties to participate in the defense of any Third Party Claim defended with counsel selected by it subject to the Indemnifying Parties. (c) Party’s right to control the defense thereof. If the Indemnifying Party elects not to compromise or defend such Third Party Claim or fails to promptly notify the Indemnified Party in writing of its election to defend as provided in this Agreement, the Indemnified Party may, subject to this Section 8.05(a), pay, compromise, defend such Third Party Claim and seek indemnification for any and all Losses based upon, arising from or relating to such Third Party Claim. The Indemnifying Parties Party and the Indemnified Party shall be authorized to consent to a settlement of, or cooperate with each other in all reasonable respects in connection with the entry defense of any judgment arising from, any Third Party Claim, including making available (subject to the provisions of Section 6.02) records relating to such Third Party Claim and furnishing, without the consent expense (other than reimbursement of any Indemnified Party; but only if actual out-of-pocket expenses) to the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any Party, employees of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to as may be reasonably necessary for the conduct preparation of any Indemnified Party’s business; and (iii) obtain, as a condition the defense of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Asset Purchase Agreement (Viasat Inc)

Third Party Claims. (a) In the event case of any Third Party Claim, if within fifteen (15) days after receiving the notice described in Section 8.2(e)(i) above the Indemnifying Party gives written notice to the Indemnified Party stating (A) that any Person desires the Indemnifying Party would be liable for indemnity under the provisions hereof if such Third Party Claim were valid, (B) that the Indemnifying Party disputes and intends to make a defend against such claim under Sections 10.2 or 10.3 and (C) that the Indemnifying Party will be solely responsible for all costs, expenses and liabilities incurred in connection with any actionor otherwise relating to such claim, suitthen counsel for the defense shall be selected by the Indemnifying Party (subject to the consent of the Indemnified Party, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”consent shall not be unreasonably withheld), whereupon the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) Indemnifying Party shall promptly notify the Party or Parties not be required to provide indemnification hereunder (make any payment to the “Indemnifying Party”) Indemnified Party for the costs of its defense counsel in respect of such Third Party Claim as long as the Indemnifying Party is conducting a good faith and diligent defense; provided, that the claim of indemnification Indemnified Party shall at all times have the right to fully participate in such defense at its own expense directly or through counsel. If the Indemnifying Party assumes the defense in accordance with respect theretothe preceding sentence, provided that failure it shall have the right, with the consent of the Indemnified Party to give such prompt notice Party, which consent shall not relieve be unreasonably withheld, to settle the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense portion of such Third Party Claim with its own counsel and at its own expensethat is subject indemnification; provided, that if the settlement (i) does not involve the imposition of an injunction or other equitable relief on the Indemnified Party, and (ii) expressly and unconditionally releases the Indemnified Party from all Liabilities with respect to such Third Party Claim (and all other claims arising out of the same or similar facts and circumstances), with prejudice. The Indemnifying Party is also subject shall keep the Indemnified Party apprised of the status of any Third Party Claim for which it has assumed the defense, shall furnish the Indemnified Party with all documents and information that such Indemnified Party reasonably requests, and shall consult with the Indemnified Party prior to acting on major matters, including settlement discussions. Notwithstanding any of the foregoing, the Indemnifying Party shall not have the right to assume control of the defense, and shall pay the reasonable fees and expenses of counsel retained by the Indemnified Party as incurred, if the Third Party Claim and counsel which such Indemnifying Party seeks to the Indemnified Party reasonably determines assume control of: (1) seeks non-monetary relief; (2) involves criminal or quasi-criminal allegations; (3) is one in writing that a conflict or potential conflict exists between the which an Indemnifying Party and the Indemnified Party are both named in the complaint, and joint representation by the same counsel would be inappropriate under applicable standards of ethical conduct; (4) could reasonably be expected to adversely affect the Taxes of the Business for a taxable period (or portion thereof) beginning after the Closing Date; or (5) involves a claim for which an adverse determination would have a material and adverse effect on the Indemnified Party’s reputation or future business prospects. If notice of intent to dispute and defend is not given by the Indemnifying Party within the time period referenced above, or if such diligent good faith defense is not being or ceases to be conducted, then the Indemnified Party may undertake the defense of (with counsel selected by such Indemnified Party), and shall have the right to compromise or settle, such Third Party Claim (exercising reasonable business judgment) in its discretion. If such Third Party Claim is one that, by its nature, cannot be defended solely by the Indemnifying Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shallshall make available all information and assistance that the Indemnifying Party shall reasonably request, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties Party in the defense of any Third Party Claim defended by the Indemnifying Partiessuch defense. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Asset Purchase Agreement (Virtusa Corp)

Third Party Claims. (a) In The Indemnified Party seeking indemnification under this Agreement shall promptly notify the event that Party against whom indemnification is sought (the “Indemnifying Party”) of the assertion of any Person desires to make a claim under Sections 10.2 claim, or 10.3 in connection with the commencement of any action, suit, proceeding, suit or demand at proceeding by any time instituted against or made upon any Person for which such Person may seek indemnification hereunder Third Party (a “Third Party Claim”), in respect of which indemnity may be sought hereunder and shall give the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Indemnifying Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification information with respect theretothereto as the Indemnifying Party may reasonably request, provided that but failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties Party of their obligations under this Article X, except any liability hereunder (unless and to the extent, if at all, extent that the Indemnifying Parties Party has suffered material prejudice by such failure). The Indemnifying Party shall have been prejudiced thereby. the right, but not the obligation, exercisable by written notice to the Indemnified Party within twenty (b20) Upon days of receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that of the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions commencement of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control or assertion of such Third Party Claim, but to assume the defense and control the settlement of any such Third Party Claim through counsel of the Indemnifying Party’s own choosing, subject to the terms of this Section 8.3. If the Indemnifying Party exercises its right to control the defense of any Third Party Claim as provided above, then the other Party shall allow cooperate in such defense and make available all witnesses, pertinent records, materials and information in such Party’s possession and control relating thereto as is reasonably required to by the Indemnifying Party conducting the defense. (b) If an Indemnifying Party elects to assume the defense and control the settlement of any Third Party Claim pursuant to Section 8.3(a), then the Indemnified Party shall have the right to participate in, at its own expense, the defense of such Third Party Claim. (c) If the Indemnifying Party has assumed the defense of any Third Party Claim pursuant to Section 8.3(a), the Indemnifying Party shall not settle, consent to a reasonable opportunity settlement of, consent to the entry of any judgment arising from, or pay or permit to be paid any portion of, such Third Party Claim without the Indemnified Party’s prior written consent unless a final judgment from which no appeal may be taken by or on behalf of the Indemnifying Party is entered against the Indemnified Party for such liability. (d) If the Indemnifying Party does not give written notice to the Indemnified Party that the Indemnifying Party has elected to assume the defense of such Third Party Claim within twenty (20) days of receipt of notice from the Indemnified Party of the commencement of or assertion of such Third Party Claim or if the Indemnifying Party shall fail to defend or, if after commencing or undertaking any such defense, shall fail to prosecute or shall withdraw from such defense, the Indemnified Party shall have the right to undertake the defense or settlement thereof, at the Indemnifying Party’s expense. If the Indemnified Party assumes the defense of a Third Party Claim pursuant to the terms of this Section 8.3(d), the Indemnified Party shall keep the Indemnifying Party timely apprised of the status of such Third Party Claim and shall not settle such Third Party Claim without the prior written consent of the Indemnifying Party (which shall not be Table of Contents unreasonably delayed, conditioned or withheld). If an Indemnified Party defends or handles such Third Party Claim, the Indemnifying Party shall be entitled to participate in the defense or handling of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Stock Purchase Agreement (WPP PLC)

Third Party Claims. (a) In the event If an Indemnified Party shall have any Claim asserted against such Indemnified Party by a Person that any Person desires is not a Party to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder this Agreement (a “Third Party Claim”"THIRD PARTY CLAIM"), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party promptly shall transmit to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject a Claim Notice relating to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Prior to the expiration of the 45-day period following the Indemnifying Parties Party's receipt of such notice (the "ELECTION PERIOD"), Indemnifying Party shall select counsel, contractors and consultants of recognized standing and competence after consultation with notify the Indemnified Party; shall take all steps necessary in Party whether the defense or settlement of such Third Indemnifying Party Claim; and shall at all times diligently and promptly pursue disputes its potential liability to the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully under this Article 7 with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized respect to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (db) Each If an Indemnifying Party notifies an Indemnified Party within the Election Period that the Indemnifying Party does not dispute its potential liability to the Indemnified Party under this Article 7, the Indemnifying Party shall assume the defense of the Parties hereby consents Third Party Claim, at its sole cost and expense, and shall prosecute such defense diligently to a final conclusion or settle such Third Party Claim at the discretion of the Indemnifying Party in accordance with this Section 7.4(b). The Indemnifying Party shall have full control of such defense and proceedings, including any compromise or settlement THEREOF; provided, however, that the Indemnifying Party shall not consent to entry of any judgment or enter into any settlement (in either case without the written consent of the Indemnified Party) that does not include as an unconditional term thereof the giving by the claimant or the plaintiff to the nonexclusive jurisdiction of any court in which Indemnified Party a proceeding complete and unconditional release from all liability in respect of a Third-such claim or litigation or the effect of which is to permit any injunction, declaratory judgment, other order or other nonmonetary relief to be entered directly or indirectly, against any Indemnified Party. If requested by the Indemnifying Party, the Indemnified Party agrees to cooperate fully with the Indemnifying Party and its counsel at the Indemnifying Party's expense in contesting any Third Party Claim is brought that the Indemnifying Party elects to contest, including, without limitation, the making of any related counterclaim against the Person asserting the Third Party Claim or any cross-complaint against any Superior Person. The Indemnified Party shall have the right to participate in, but not control, any defense or Dynamic Indemnified Party, as applicable, for purposes settlement of any claim that a Superior Indemnified Third Party or Dynamic Indemnified Party, as applicable, may have under Claim controlled by the Indemnifying Party pursuant to this Agreement Section 7.4(b) and shall bear its own costs and expenses with respect to any such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worldparticipation.

Appears in 1 contract

Sources: Share Exchange Agreement (Huttig Building Products Inc)

Third Party Claims. (a1) In Subject to Section 10.2(d)(ii)(2) and Section 10.2(d)(ii)(4) below, the event that any Person desires Indemnifying Party shall have the right to make conduct at its expense the defense against a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”), upon delivery of Notice to the Person or Persons entitled to indemnification hereunder Indemnified Party (the “Indemnified PartyDefense Notice”) shall promptly notify within thirty (30) days after the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) ’s receipt of the Claim Notice; provided that the Defense Notice shall specify the counsel the Indemnifying Party will appoint to defend such Third Party Claim and acknowledge, without qualification, the claim of indemnification with respect thereto, provided that failure right of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms be indemnified for Damages incurred in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim connection with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shallshall be entitled to be indemnified for the reasonable fees and expenses of counsel for any period during which the Indemnifying Party has not assumed the defense of any such Third Party Claim in accordance with this Section 10.2. Subject to Section 10.2(d)(ii)(2) and Section 10.2(d)(ii)(4) below, if the Indemnifying Party timely delivers a Defense Notice and thereby elects to conduct the defense of the Third Party Claim, the Indemnified Party will cooperate with and make available to the Indemnifying Party such assistance and materials as the Indemnifying Party may reasonably request, all at the expense of the Indemnifying Party, and the Indemnified Party shall cause each have the right at its expense to participate in the defense assisted by counsel of its Affiliates and representatives toown choosing. (2) Notwithstanding Section 10.2(d)(ii)(1), cooperate fully with but subject to Section 10.2(d)(ii)(4)(i), the Indemnifying Parties in Party shall not be entitled to control the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay such claim for indemnification is with respect to a criminal proceeding, action, indictment, allegation or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; investigation, (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition has been advised by counsel that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect reasonable likelihood exists of a Third-material conflict of interest between the Indemnifying Party Claim is brought against any Superior and the Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere Third Party Claim, (iii) the Indemnifying Party has failed or is failing to vigorously prosecute or defend such Third Party Claim, or (iv) such Third Party Claim seeks an injunction or other equitable relief against the Indemnified Party; provided, however, in the worldevent of any of the foregoing circumstances, the Indemnified Party shall be entitled to retain its own counsel, at the expense of the Indemnifying Party; provided, further, that the Indemnifying Party shall not be obligated to pay the reasonable fees and expenses of more than one separate counsel for all Indemnified Parties, taken together (except to the extent that local counsel are necessary or advisable for the conduct of such action or proceeding, in which case the Indemnifying Party shall also pay the reasonable fees and expenses of any local counsel). (3) The Indemnifying Party shall not, without the prior written consent of the Indemnified Party (a) settle or compromise a Third Party Claim or consent to the entry of any Judgment which does not include an unconditional, duly authorized, fully executed and acknowledged (by a duly registered notary public) written release by the claimant or plaintiff of the Indemnified Party from all liability in respect of the Third Party Claim; (b) settle or compromise any Third Party Claim if the settlement imposes equitable remedies or other obligations on the Indemnified Party other than financial obligations for which such Indemnified Party will be indemnified hereunder, within the limits set forth in Section 10.4; or (c) settle or compromise any Third Party Claim if the result is to admit civil or criminal liability or culpability on the part of the Indemnified Party that gives rise to criminal liability with respect to the Indemnified Party. No Third Party Claim which is being defended in good faith by the Indemnifying Party in accordance with the terms of this Agreement shall be settled or compromised by the Indemnified Party without the prior written consent of the Indemnifying Party. (4) Notwithstanding anything set forth in this Section 10.2(d), but subject to Section 10.2(d)(ii)(3), American shall have the sole right to control, defend, settle, compromise or prosecute in any manner (i) any audit, examination, investigation, hearing, settlement conference or other proceeding relating to American’s Taxes and (ii) any Covered Claim.

Appears in 1 contract

Sources: Asset Acquisition Agreement (Inland American Real Estate Trust, Inc.)

Third Party Claims. (ai) In order for a Person (the event that “Indemnified Party”) to be entitled to any Person desires to make indemnification provided for under this Section 3.3(a) in respect of, arising out of or involving a claim under Sections 10.2 or 10.3 in connection with made by any action, suit, proceeding, or demand at any time instituted third Person against or made upon any Person for which such Person may seek indemnification hereunder the Indemnified Party (a “Third Party Claim”), such Indemnified Party must notify the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required obligated to provide indemnification hereunder under this Section 3.3(a) (the “Indemnifying Party”) in writing of such the Third Party Claim and promptly following receipt by such Indemnified Party of written notice of the claim of indemnification with respect theretoThird Party Claim; provided, provided however, that failure of the Indemnified Party to give such prompt notice notification shall not relieve affect the Indemnifying Parties of their obligations indemnification provided under this Article X, Agreement except to the extent, if at all, that extent the Indemnifying Parties Party shall have been prejudiced therebyas a result of such failure. Thereafter, the Indemnified Party shall deliver to the Indemnifying Party, promptly following the Indemnified Party’s receipt thereof, copies of all notices and documents (including court papers) received by the Indemnified Party relating to the Third Party Claim. (bii) Upon receipt of If a Third Party Claim is made against an Indemnified Party, the Indemnifying Party shall be entitled to assume the defense thereof by written notice from to the Indemnified Party pursuant within ten (10) days after the Indemnifying Party’s receipt of the notice of the Third Party Claim contemplated by paragraph (i) above with counsel selected by the Indemnifying Party, in its sole and absolute discretion, and approved by the Indemnified Party, which approval shall not be unreasonably withheld; provided that such counsel is not reasonably objected to Section 10.5(a) by the Indemnified Party; and provided further that notwithstanding the foregoing, the Indemnifying Party confirms shall not be entitled to assume control of such defense and, instead, shall pay the reasonable legal fees, costs and expenses of counsel retained by the Indemnified Party if (A) the claim for indemnification relates to or arises in writing that connection with any criminal proceeding, action, indictment, allegation or investigation, (B) the subject matter set forth in claim seeks an injunction or equitable relief against the notice is subject to indemnification by Indemnified Party, (C) the Indemnifying Party under failed or is failing to reasonably prosecute or defend such claim, (D) assuming such claim is determined adversely, such claim could reasonably be expected to give rise to Losses which such Indemnifying Party is unable to pay or which could be reasonably expected to exceed the applicable provisions ability of this Article Xsuch Indemnifying Party to pay, or (E) in the Indemnified Party’s reasonable judgment based upon a written opinion from such Indemnified Party’s counsel, a conflict of interest between the Indemnified Party and the Indemnifying Parties will, subject Party exists with respect to the provisions of Section 10.5(c), assume claim. (iii) If the Indemnifying Party assumes the defense and control of such a Third Party Claim, but (1) the Indemnifying Party shall allow not be liable to the Indemnified Party a reasonable opportunity for any legal expenses subsequently incurred by the Indemnified Party in connection with the defense thereof and (2) in addition to the rights set forth in subparagraph (iv) below, the Indemnified Party shall have the right to participate in the defense thereof and to employ counsel, at its own expense, separate from the counsel employed by the Indemnifying Party. The Indemnifying Party shall be liable for the fees, costs and expenses of counsel employed by the Indemnified Party for any period during which the Indemnifying Party has not assumed the defense thereof (including in respect of Third Party Claims the defense of which the Indemnifying Party was not entitled to assume or continue in accordance with the second proviso of the first sentence of paragraph (ii)). (iv) The Indemnified Party shall have the right to control the defense of any Third Party Claim, including any Third Party Claim the defense of which has been assumed by the Indemnifying Party. Without limiting the generality of the foregoing, all important legal and strategic decisions with respect to the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to shall be made by the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between and the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and not admit any other expenses related liability with respect to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, or settle, compromise or discharge any Third Party Claim, in each case without the prior written consent of any the Indemnified Party; but only if . (v) If the Indemnifying Party assumes the defense of a Third Party Claim, all the Indemnified Parties shall cooperate in the defense or prosecution thereof. Such cooperation shall include the retention and (iupon the Indemnifying Party’s request) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or provision to the conduct Indemnifying Party of any Indemnified Party’s business; records and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by information that are reasonably relevant to such Third Party Claim, and making employees available on a mutually convenient basis to provide additional information and explanation of any materials provided hereunder. (dvi) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement The indemnification with respect to such proceeding an Indemnifying Party’s obligation to pay legal fees and other costs and expenses of defense of a Third Party Claim required by this Section 3.3(a) shall be made by periodic payments of the amount thereof during the course of the investigation or defense of the matters alleged therein Third Party Claim, as and agree that process may when bills are received. (vii) All claims under this Section 3 other than Third Party Claims shall be served on a Party with respect to such a claim anywhere in the worldgoverned by Section 3.3(b) below.

Appears in 1 contract

Sources: Finder's Fee Agreement (Laredo Oil, Inc.)

Third Party Claims. (a) In the event that a. If any Person desires to make third party makes or asserts a claim against any party (the “Indemnified Party”) with respect to any matter which may give rise to a claim for indemnification against any other party (the “Indemnifying Party”) under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder this Agreement (a “Third Party Claim”), then the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) Party shall promptly notify the Indemnifying Party or Parties required to provide indemnification hereunder (thereof promptly; provided, however, that no delay on the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure part of the Indemnified Party to give such prompt notice in notifying the Indemnifying Party shall not relieve the Indemnifying Parties of their obligations Party from any liability or obligation under this Article X, except Agreement unless (and then solely to the extent, if at all, that extent that) the Indemnifying Parties shall have been Party is damaged or prejudiced thereby. (b) Upon receipt of notice from b. If the Indemnified Party pursuant gives notice to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that of the subject matter set forth in the notice is subject to indemnification by assertion of a Third Party Claim, the Indemnifying Party under shall be entitled to participate in the applicable provisions of this Article Xunderlying proceeding and, to the extent that it wishes (unless the Indemnifying Parties will, subject Party is also a party to such proceeding and the provisions of Section 10.5(cIndemnified Party and the Indemnifying Party mutually agree that joint representation would be inappropriate), may assume the defense and control of the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party. c. After the Indemnifying Party gives notice to the Indemnified Party of its election to assume the defense of such Third Party Claim, but the Indemnifying Party shall allow not be liable to the Indemnified Party a reasonable opportunity under this Section for any fees of other counsel or any other expenses with respect to participate in the defense of such Third Party Claim subsequently incurred by the Indemnified Party in connection with its own counsel and at its own expense; provided, that if an the defense of such Third Party Claim. d. If the Indemnifying Party is also subject to assumes the defense of a Third Party Claim, (i) it will be conclusively established for purposes of this Agreement that the Third Party Claim and counsel is within the scope and/or subject to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between indemnification; (ii) the Indemnifying Party shall not compromise or settle such Third Party Claim without the Indemnified Party’s consent (which consent may not be unreasonably withheld) unless (A) there is no finding or admission of any violation of any law or regulation or any violation of the rights of any person and no effect on any other claims that may be made against the Indemnified Party, then and (B) the sole relief provided is monetary damages that are paid in full by the Indemnifying Parties shall Party; (iii) the Indemnifying Party will have no liability with respect to any compromise or settlement of such Third Party Claim effected without its consent (which consent may not be liable under this Article X for the fees of unreasonably withheld); and (iv) the Indemnified Party’s counsel and any other expenses related Party shall provide the Indemnifying Party with all material information requested by the Indemnifying Party relating to the defense of such Third Party Claim. The . e. If notice is given to the Indemnifying Parties shall select counselParty of a Third Party Claim and the Indemnifying Party does not, contractors and consultants of recognized standing and competence within fourteen (14) days after consultation with the Indemnified Party; shall take all steps necessary in ’s notice is given, give notice to the Indemnified Party of the Indemnifying Party’s election to assume the defense of such Third Party Claim, the Indemnifying Party will be bound by the outcome of such Third Party Claim and any compromise or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended effected by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Marketing and Services Agreement (Traffix Inc)

Third Party Claims. (a) In Subject to Section 8.4(b), any Indemnified Party under this Article VIII shall have the event that right to conduct and control, through counsel of its choosing, any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any third party claim, action, suit, proceeding, investigation or demand at any time instituted against or made upon any Person other claim giving rise to a claim for which such Person may seek indemnification hereunder (a "Third Party Claim”), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”") shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect theretoIndemnified Party may compromise or settle the same, provided that failure of the Indemnified Party to shall give such prompt the Indemnitor at least 10 days' advance notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict any proposed compromise or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claimsettlement. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with permit the Indemnifying Parties Indemnitor to participate in the defense of any Third Party Claim defended through counsel chosen by it, provided that the fees and expenses of such counsel shall be borne by the Indemnifying PartiesIndemnitor. Subject to Section 8.4(b), any compromise or settlement with respect to a claim for money damages effected after the Indemnitor by notice to the Indemnified Party shall have disapproved such compromise or settlement shall discharge the Indemnitor from liability with respect to the subject matter thereof, and no amount in respect thereof shall be claimed as Loss or Expense under this Article VIII. (cb) The Indemnifying Parties shall be authorized to consent to a settlement ofIf the remedy sought in any Third Party Claim is solely money damages and will have no continuing effect on the business, reputation or the entry future business prospects of any judgment arising fromIndemnified Party, any the Indemnitor shall have 15 days after receipt of the notice referred to in the last sentence of Section 8.3(a) to notify the Indemnified Party that it elects to conduct and control such Third Party Claim. If the Indemnitor gives the foregoing notice, the Indemnitor shall have the right to undertake, conduct and control, through counsel of its own choosing and at the sole expense of the Indemnitor, the conduct and settlement of such Third Party Claim, without and the consent Indemnified Party shall cooperate with the Indemnitor in connection therewith; provided that (x) the Indemnitor shall not thereby permit to exist any lien, encumbrance or other adverse charge upon any asset of any Indemnified Party; (y) the Indemnitor shall permit the Indemnified Party to participate in such conduct or settlement through counsel chosen by the Indemnified Party, but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out fees and expenses of such settlement or judgment concurrently with counsel shall be borne by the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s businessexcept as provided in clause (z) below; and (iiiz) obtain, as a condition the Indemnitor shall agree promptly to reimburse the Indemnified Party for the full amount of any settlement Loss arising from or other resolutionrelating to such Third Party Claim and all related Expense incurred by the Indemnified Party, a complete release except fees and expenses of any counsel for the Indemnified Party potentially affected incurred after the assumption of the conduct and control of such Third Party Claim by the Indemnitor. So long as the Indemnitor is contesting any such Third Party Claim in good faith, the Indemnified Party shall not pay or settle any such Third Party Claim. (d) Each of . Notwithstanding the Parties hereby consents foregoing, the Indemnified Party shall have the right to pay or settle any such Third Party Claim without the nonexclusive jurisdiction of Indemnitor's approval, provided that in such event the Indemnified Party shall waive any court in which a proceeding right to indemnity therefor by the Indemnitor, and no amount in respect of a Third-Party Claim is brought against any Superior Indemnified Party thereof shall be claimed as Loss or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have Expense under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worldArticle VIII.

Appears in 1 contract

Sources: Supplemental Agreement (Combined Professional Services Inc)

Third Party Claims. (aA) In Promptly after receipt by a person entitled to be indemnified under this Section 8.2 (an "Indemnified Party") of notice of the event that commencement of any Person desires to make proceeding against it, such Indemnified Party will, if a claim for indemnification is to be made against a party (an "Indemnifying Party") under Sections 10.2 or 10.3 in connection with any actionthis Section 8.2, suit, give notice to the Indemnifying Party of the commencement of such proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”), the Person or Persons entitled . The failure to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Indemnifying Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall will not relieve the Indemnifying Parties Party of their obligations under this Article X, any liability that it may have to an Indemnified Party except to the extent, if at all, extent that the Indemnifying Parties shall have been defense of such action was irreparably and materially prejudiced therebyby the Indemnified Party's failure to provide prompt notice. (bB) Upon receipt If any proceeding is brought against an Indemnified Party and it gives notice to the Indemnifying Party of notice from the commencement of such proceeding, the Indemnifying Party will be entitled to participate in such proceeding and, to the extent that it wishes (unless (A) the Indemnifying Party is also a party to such proceeding and the Indemnified Party pursuant to Section 10.5(adetermines in good faith that joint representation would be inappropriate or (B) and provided that the Indemnifying Party confirms fails to provide reasonable assurances to the Indemnified Party of its financial capacity to defend such proceeding and provide indemnification with respect to such proceeding), to assume the defense of such proceeding with counsel satisfactory to the Indemnified Party. Following a proper assumption of defense by an Indemnifying Party, as long as the Indemnifying Party diligently conducts such defense, it will not be liable for any subsequent fees of legal counsel or other expenses incurred by the Indemnified Party in writing connection with the defense of such proceeding, other than reasonable costs of investigation. If the Indemnifying Party assumes the defense of a proceeding, (A) it will be conclusively established for purposes of this Agreement that the subject matter set forth claims made in that proceeding are within the notice is scope of and subject to indemnification indemnification; (B) no compromise or settlement of such claims may be effected by the Indemnifying Party under without the applicable provisions Indemnified Party's consent unless (x) there is no finding or admission of this Article Xany violation of any Legal Requirements (as defined in below) or any violation of the rights of any party and no effect on any other claims that may be made by or against the Indemnified Party, and (y) the sole relief provided is monetary damages that are paid in full by the Indemnifying Parties will, subject Party concurrently with the compromise or settlement; and (c) the Indemnifying Party will have no liability with respect to the provisions of Section 10.5(c), assume the defense and control any compromise or settlement of such Third claims effected without its consent. If notice is given to an Indemnifying Party Claim, but shall allow of the commencement of any proceeding and the Indemnifying Party does not within ten (10) days give notice to the Indemnified Party a reasonable opportunity of its election to participate in assume the defense of such Third Party Claim with its own counsel and at its own expense; providedproceeding, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and will be bound by any determination made in such proceeding or any compromise or settlement effected by the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties term "Legal Requirement" shall select counselmean any federal, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shallstate, and shall cause each of its Affiliates and representatives tolocal, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement ofmunicipal, foreign, international, multi-national, or the entry of any judgment arising fromother constitution, any Third Party Claimlaw, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay ordinance, principle, law, statute, code, regulation, rule or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claimtreaty. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Asset Purchase Agreement (Clarion Technologies Inc/De/)

Third Party Claims. (ai) In the event that any Person desires Parent becomes aware of a Third Party Claim, Parent shall promptly deliver a Claim Certificate to make the Securityholder Representative along with a copy of such claim under Sections 10.2 or 10.3 in connection with any actionif available (collectively, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a the “Third Party ClaimClaim Notice”), and the Person or Persons entitled Securityholder Representative shall (1) have all rights with respect to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification Notice as it would with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations any other Claim Certificate under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a10.3(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c)10.3(c) shall apply mutatis mutandis to such Third Party Claim Notice and (2) be entitled on behalf of the Company Securityholders, assume at its sole option and expense, to participate in, but not to determine, conduct or dictate any portion of the strategy related to, the defense and control of such Third Party Claim; provided, but however, that, for the sake of clarity, it is agreed that the Securityholder Representative shall allow not have the Indemnified ability, without the prior written consent of Parent, to petition, make any motion to, or take any other procedural action in connection with such Third Party a reasonable opportunity Claim by or before, any Governmental Authority. The failure to participate in so notify the Securityholder Representative shall not relieve the Company Securityholders of any Liability, except to the extent the Securityholder Representative demonstrates that the defense of such Third Party Claim is actually and materially prejudiced thereby. All Losses suffered, incurred, sustained or accrued in connection with its own counsel the defense, investigation or settlement of any such Third Party Claim, regardless of the outcome of such claim, shall be deemed to be Losses hereunder (collectively, “Third Party Costs”), subject to the following limitations (and at its own expenseall other limitations set forth in this Agreement), all of which are cumulative: (A) One hundred percent (100%) of all Third Party Costs suffered, incurred, sustained or accrued in connection with the defense, investigation or settlement of any Third Party Claim relating to Representation Breaches (or alleged Representation Breaches) up to a maximum aggregate amount of Five Million Dollars ($5,000,000.00) shall be deemed to be Losses hereunder and the Company Securityholders shall indemnify the Parent Indemnified Parties for all such Third Party Costs; thereafter, eighty percent (80%) of Third Party Costs relating to Representation Breaches (or alleged Representation Breaches) in excess of such Five Million Dollars ($5,000,000.00) threshold shall be deemed to be Losses hereunder and the Company Securityholders shall indemnify the Parent Indemnified Parties for such portion of such Third Party Costs; provided, that if it is ultimately determined pursuant to Section 10.3(c) that such Third Party Claim arises from an Indemnifying Party is also subject to actual Representation Breach, the limitation in the preceding clause shall not apply and one hundred (100%) of the Third Party Claim and counsel to the Indemnified Party reasonably determines Costs incurred in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of connection with such Third Party Claim. The Indemnifying Claim shall be deemed to be Losses hereunder and the Company Securityholders shall indemnify the Parent Indemnified Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take for all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying PartiesCosts. (cB) The Indemnifying Parties For the avoidance of doubt, the recovery by Parent of all Third Party Costs shall be authorized subject to consent all other limitations on liability set forth in this Agreement. Parent shall have the right in its sole discretion to a settlement conduct the defense of, or the entry of any judgment arising fromand to settle, any Third Party Claim; provided, without however, that Parent shall seek the Securityholder Representative’s consent (not to be unreasonably conditioned, withheld or delayed) prior to settling any Third Party Claim; provided, further, that the consent of the Securityholder Representative with respect to any settlement of any such Third Party Claim shall be deemed to have been given unless the Securityholder Representative shall have objected within thirty (30) days after a written request for such consent by the Parent Indemnified Party; but only if Person. In the Indemnifying Parties event that the Securityholder Representative has consented to or deemed to have consented to any settlement, the Company Securityholders shall (i) pay have no power or cause authority to be paid all amounts arising out object under any provision of such settlement or judgment concurrently with this Article X to the effectiveness amount of such settlement; (ii) not encumber . Neither the Securityholder Representative nor any of the assets of Company Securityholder may settle or compromise any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each Claim without the prior written consent of the Parties hereby consents relevant Parent Indemnified Party(ies). This Section 10.3(b) shall not apply to the nonexclusive jurisdiction of any court in matters involving Taxes, which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may shall be served on a Party with respect to such a claim anywhere in the worldgoverned exclusively by Section 5.13.

Appears in 1 contract

Sources: Merger Agreement (Atlassian Corp PLC)

Third Party Claims. (a) In the event that any Person desires A party seeking indemnification pursuant to make a claim under Sections 10.2 this Article XIII or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder otherwise pursuant to this Agreement (a “Third Party Claim”), the Person or Persons entitled to indemnification hereunder (the an “Indemnified Party”) shall promptly notify give prompt notice to the Party or Parties required to provide party from whom such indemnification hereunder is sought (the “Indemnifying Party”) of such Third Party Claim and the assertion of any lawsuit or claim by a third party (a “Claim”) in respect of indemnification with respect theretowhich indemnity may be sought hereunder; provided, provided that failure of the Indemnified Party to give such prompt notice notification shall not affect such Indemnified Party’s right to indemnification hereunder and shall not relieve the Indemnifying Parties Party from any of their its obligations under this Article X, XIII except to the extentextent the Indemnifying Party is actually prejudiced by such failure. Any notice of a Claim shall state specifically the representations, if at allwarranty, covenant or agreement with the alleged basis for the Claim, and the amount of liability asserted against the other Party by reason of the Claim. In the event that a Claim is brought against an Indemnified Party and such Indemnified Party has notified the Indemnifying Party of the commencement thereof pursuant to this Section 13.03, the Indemnifying Party shall be entitled to assume the defense thereof, with counsel selected by the Indemnifying Party; provided, however, that the Indemnifying Parties Party shall have been prejudiced thereby. not be entitled to assume the defense (unless otherwise agreed to in writing by the Indemnified Party) if (a) the Claim relates primarily to any criminal Proceeding, indictment, allegation or investigation, (b) Upon receipt of notice from the Claim primarily seeks an injunction or equitable relief against the Indemnified Party, (c) the Damages relating to the Claim are reasonably likely to exceed the maximum amount that the Indemnified Party pursuant would then be entitled to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by recover from the Indemnifying Party under the applicable provisions of this Article XAgreement, or (d) the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to a party or has an interest in such claim, which interest conflicts with the Third Party Claim and counsel to interests of the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Party. The Indemnifying Party and the Indemnified PartyParty agree to cooperate fully with each other and their respective counsel in connection with the defense, then negotiation or settlement of any such Claim. If the Indemnifying Parties shall be liable under this Article X for Party elects to assume the fees defense of a Claim as contemplated hereunder, the Indemnified Party’s counsel and any other expenses related Party shall have the right to participate in (but not control) the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with If the Indemnifying Parties in Party assumes the defense of any Third Party Claim defended an action, no settlement or compromise thereof may be effected (i) by the Indemnifying Parties. Party without the written consent of the Indemnified Party unless (cA) The the settlement seeks only monetary relief and all such relief provided is paid or satisfied in full by the Indemnifying Parties shall be authorized Party, (B) the settlement or compromise provides for a full release by the party of the Indemnified Party with respect to consent to a the claim(s) being settled and (C) the settlement of, or compromise does not contain any admission of finding or wrongdoing on behalf of the entry of any judgment arising from, any Third Indemnified Party Claim, or (ii) by the Indemnified Party without the consent of any Indemnified Party; but only if the Indemnifying Parties shall Party. If the Indemnifying Party does not assume or is not permitted to assume the defense of an action, no settlement or compromise thereof may be effected without the Indemnifying Party’s consent (i) pay or cause such consent not to be paid all amounts arising out of such settlement unreasonably withheld, conditioned or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claimdelayed). (db) Each Indemnified Party shall take, and cause its Affiliates to take, all reasonable steps to mitigate any and all Damages upon becoming aware of the Parties hereby consents any event or circumstance that would be reasonably expected to, or does, give rise thereto, including incurring costs only to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim minimum extent necessary to remedy the breach that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect gives rise to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worldDamages.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Asbury Automotive Group Inc)

Third Party Claims. The obligations and liabilities of an Indemnifying Party with respect to Losses resulting from the assertion of liability by third parties (a) In the event that any Person desires to make a claim under Sections 10.2 or 10.3 in connection with any actioneach, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall be subject to the following terms and conditions: (a) The Indemnified Parties shall promptly notify the Party or Parties required give written notice to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except any Third Party Claim that might give rise to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from any Loss by the Indemnified Party pursuant to Section 10.5(a) Parties, stating the nature and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control basis of such Third Party Claim, but shall allow and the amount thereof to the extent known; provided, however, that no delay on the part of the Indemnified Party a reasonable opportunity in so notifying the Indemnifying Party shall affect the Indemnified Party’s right to participate in indemnification hereunder, except and only to the defense extent that the Indemnifying Party is actually and materially prejudiced by such failure. Such notice shall be accompanied by copies of all relevant documentation with respect to such Third Party Claim, including any summons, complaint or other pleading which may have been served, any written demand or any other document or instrument. (b) From and after receipt of notice of a Third Party Claim with its own counsel pursuant to Section 11.03(a), the Indemnifying Parties shall have the right, upon notice to the Indemnified Parties, to assume and conduct, at its their own expense; provided, that if an Indemnifying Party is also subject to the defense against the Third Party Claim and counsel to in their own names or in the names of the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between Parties. If the Indemnifying Party and assumes the defense of any Third Party Claim, the Indemnifying Party shall (i) select counsel reasonably acceptable to the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall (ii) take all steps necessary in the defense or settlement thereof and (iii) keep the Indemnified Party apprised of all significant developments with respect thereto; provided, however, that the Indemnifying Party shall not enter into any settlement, compromise or consent to judgment with respect to any Third Party Claim without the prior consent of the Indemnified Parties, such consent not to be unreasonably withheld, conditioned or delayed; provided, however, that the Indemnifying Party shall be entitled to settle, compromise or consent to a judgment without the consent of the Indemnified Party with respect to a Third Party Claim if such judgment will not have a material adverse impact on the business of the applicable Person going forward. The Indemnified Parties shall have the right to employ separate counsel in any such Third Party Claim; Claim and/or to participate in the defense thereof, but the fees and expenses of such counsel shall not be included as part of any Loss incurred by the Indemnified Party and shall at all times diligently and promptly pursue not be payable by the resolution of such Third Party ClaimIndemnifying Parties. The Indemnified Party shall, shall provide all information and assistance that is reasonably available and necessary for the defense of the Third Party Claim as the Indemnifying Party may reasonably request and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties Party in the defense such defense. Seller Parent shall be entitled to exercise any rights of any Seller with respect to Third Party Claim defended by the Indemnifying PartiesClaims under this Section 11.03. (c) The If the Indemnifying Parties Party does not assume the defense of a Third Party Claim within ten (10) Business Days after receiving notice thereof, (i) the Indemnified Party may defend against such Third Party Claim in such manner as it may deem reasonably appropriate; provided, that the Indemnified Party shall be authorized to not consent to a settlement ofsettlement, compromise or the entry of any consent to judgment arising from, with respect to any Third Party Claim, Claim without the prior written consent of any Indemnified Party; but only if the Indemnifying Parties Party, which consent shall (i) pay not be unreasonably withheld, conditioned or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; delayed, and (ii) not encumber any the Indemnifying Party shall provide to the Indemnified Party all information and assistance that is reasonably available and necessary for the defense of the assets of any Third Party Claim as the Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any may reasonably request and shall reasonably cooperate with the Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by in such Third Party Claimdefense. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Canadian Solar Inc.)

Third Party Claims. (a) In Except with respect to claims, Actions or audits relating to Taxes, which are addressed in Section 9.4(b), in the event that an Indemnitee receives notice of the assertion of any Person desires to make claim or the commencement of any Action by a claim third party in respect of which indemnity may be sought under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder the provisions of this Article IX (a “Third Party Claim”), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) Indemnitee shall promptly notify the Indemnitor(s) in writing of such Third Party Claim (“Notice of Claim”). The Notice of Claim shall set forth: (i) that an Indemnitee has incurred Losses for which such Indemnitee is entitled to indemnification pursuant to this Agreement and reference to the provisions of this Agreement in respect of which such Loss shall have occurred; (ii) the amount of such Losses, if known, or, if not known, an estimate of the foreseeable maximum amount of such Losses (which estimate shall not be conclusive of the final amount of such Losses); and (iii) a description of the basis for such Third Party Claim. Failure or Parties required delay in notifying the Indemnitor(s) shall not relieve the Indemnitor(s) of any liability they may have to provide indemnification hereunder the Indemnitee, except and only to the extent that such failure or delay causes actual harm to the Indemnitor(s) with respect to such Third Party Claim. (b) Subject to the “Indemnifying Party”further provisions of this Section 9.4, the Indemnitor(s) will have 10 Business Days (or less if the nature of the Third Party Claim so requires) from the date on which the Indemnitor(s) received the Notice of Claim to notify the Indemnitee that the Indemnitor(s) will assume the defense or prosecution of such Third Party Claim and any litigation resulting therefrom with counsel of its choice and at its sole cost and expense (a “Third Party Defense”). Should the claim of indemnification with respect thereto, provided that failure of the Indemnified Party Indemnitor so elect to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such a Third Party Claim, but the Indemnitor shall allow not be liable to the Indemnified Party a reasonable opportunity Indemnitee for legal expenses subsequently incurred by the Indemnitee in connection with the defense thereof (except as hereinafter provided). Any Indemnitee shall have the right to employ separate counsel in any such Action and to participate (but not control) in the defense thereof at its sole cost and expense, but the fees and expenses of such Third Party Claim with its own counsel and shall not be at its own expense; providedthe expense of the Indemnitor(s) unless the Indemnitor(s) shall have failed, that if an Indemnifying Party is also subject to within the time after having been notified by the Indemnitee of the existence of the Third Party Claim and counsel as provided in the first sentence of this paragraph (b), to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to assume the defense of such Third Party Claim. The Indemnifying Parties In the event that a Parent Indemnitee receives notice of the assertion of any claim or the commencement of any Action or audit by any Taxing Authority relating to Tax Returns due prior to the Closing Date and which claim, Action or audit may give rise to liability for which indemnity may be sought under the provisions of this Article IX, the Company shall select counselpromptly notify the Stockholder Indemnitors in writing of such claim, contractors Action or audit. Failure or delay in notifying the Stockholder Indemnitors will not relieve the Stockholder Indemnitors of any liability they may have to the Parent Indemnitees, except and consultants only to the extent that such failure or delay causes actual harm to the Stockholder Indemnitors with respect to such claim, Action or audit. Subject to the further provisions of recognized standing and competence after consultation with this Section 9.4, the Indemnified Party; Stockholder Indemnitors will have 10 Business Days from the date on which the Stockholder Indemnitors receive the notice of such claim, Action or audit to notify the Company that the Stockholder Indemnitors shall take all steps necessary in assume the defense or prosecution of such claim, Action or audit and any litigation resulting therefrom with counsel of its choice and at its sole cost and expense (a “Stockholder Tax Defense”). Should the Stockholder Indemnitors so elect to assume the defense of such a claim, Action or audit, the Stockholder Indemnitors shall not be liable to the Company or any of its Subsidiaries for legal expenses subsequently incurred by the Company or any of its Subsidiaries in connection with the defense thereof (except as hereinafter provided). The Parent Indemnitees shall have the right to employ separate counsel in connection with any such claim, Action or audit and to participate in (but not control) the defense thereof at its sole cost and expense, but the fees and expenses of such counsel shall not be at the expense of the Stockholder Indemnitors unless the Stockholder Indemnitors shall have failed, within the time after having been notified by a Parent Indemnitee of the existence of such claim, Action or audit as provided in the third sentence of this paragraph, to assume the defense of such claim, Action or audit. The Company and its Subsidiaries may at any time assume the exclusive control over any Stockholder Tax Defense upon providing the Stockholder Indemnitors with written notice of such assumption. Where the Company or its Subsidiaries assumes the exclusive control over a Stockholder Tax Defense pursuant to the preceding sentence, the Stockholder Indemnitors shall have no liability to indemnify under the provisions of this Article IX for any Tax Loss resulting from such claim, Action or audit. Notwithstanding any other provision of this Article IX, the Company and its Subsidiaries shall have the right to control the defense or prosecution of any claim, Action or audit by any Taxing Authority, where such claim, Action or audit is not described in the preceding paragraph. In the event that a Parent Indemnitee receives notice of the assertion of any claim or the commencement of any such Action or audit by any Taxing Authority, which claim, Action or audit may give rise to liability for which indemnity may be sought under the provisions of this Article DC, a Parent Indemnitee shall promptly notify the Stockholder Indemnitors in writing of such claim, Action or audit. Failure or delay in notifying the Stockholder Indemnitors will not relieve the Stockholder Indemnitors of any liability they may have to a Parent Indemnitee, except and only to the extent that such failure or delay causes actual harm to the Stockholder Indemnitors with respect to such claim, Action or audit. Stockholder Indemnitors shall have the right to employ separate counsel in connection with such claim, Action or audit and to participate in (but not control) the defense thereof at its sole cost and expense. Where the Stockholder Indemnitors control the defense of a claim, Action or audit relating to Taxes (a “Tax Proceeding”) under the second preceding paragraph, the Stockholder Indemnitors agree that all claims against a Parent Indemnitee involved in such Tax Proceeding will be defended reasonably actively and diligently and that (i) the Stockholder Indemnitors will not consent to the entry of any judgement or enter into any settlement with respect to any matter involved in such Tax Proceeding without the written consent of the Company (not to be unreasonably withheld or delayed), (ii) no Parent Indemnitee shall be required to execute a power of attorney in connection with such Tax Proceeding (other than those powers of attorney reasonably required to permit the Stockholder Indemnitors and their representatives to participate in meetings with the IRS) and (iii) no Parent Indemnitee will be required, in connection with such Tax Proceeding, to sign any document or make any filing reflecting, or otherwise to take, a position that the Company reasonably determines lacks a reasonable basis. Where the Company or any of its Subsidiaries controls a Tax Proceeding which may give rise to liability for which indemnity may be sought under this Article IX, the Company agrees that the matters which may give rise to liability for which an indemnity may be sought under this Article IX shall be defended reasonably actively and diligently and the Company and its Subsidiaries will not consent to the entry of any judgement or enter into any settlement with respect to any matter involved in such a Tax Proceeding which may give rise to such an indemnity obligation without the written consent of the Stockholder Indemnitees (which consent may not be unreasonably withheld or delayed). Notwithstanding the foregoing, the Company and its Subsidiaries shall have the right to settle any matter involved in such a Tax Proceeding which may give rise to an indemnity obligation on the part of the Stockholder Indemnitors; provided that, in such event, the Parent Indemnitees shall waive any right to indemnity therefor by the Stockholder Indemnitors for such matter unless the Stockholder Indemnitors shall have consented to such settlement (such consent not to be unreasonably withheld or delayed). The parties hereto agree to cooperate with each other in connection with the defense, negotiation or settlement of any Tax Proceeding. (c) The Indemnitor(s) will not be entitled to assume the Third Party Defense or, where the Indemnitor(s) are Stockholder Indemnitors, Stockholder Tax Defense, if: (i) a Third Party Claim or a claim involved in a Stockholder Tax Defense seeks, in addition to or in lieu of monetary damages, any injunctive or other equitable relief (except where non-monetary relief is merely incidental to a primary claim or claims for monetary damages); (ii) the claim for indemnification relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation; or (iii) upon petition by the Indemnitee, the appropriate court rules that the Indemnitor(s) failed or is failing to vigorously prosecute or defend such Third Party Claim or a claim involved in a Stockholder Tax Defense. (d) Except with respect to Tax Proceedings, which are addressed in Section 9.4(b), the Indemnitor(s) will not consent to the entry of any judgment or enter into any settlement except with the written consent of the Indemnitee (such consent not to be unreasonably withheld or delayed); provided, however, the consent of the Indemnitee shall not be required if all of the following conditions are met: (i) the terms of the judgment or proposed settlement include as an unconditional term thereof the giving to the Indemnitee by the third party of a release of the Indemnitee from all liability in respect of such Third Party Claim; (ii) there is no finding or admission of (A) any violation of Law by the Indemnitee (or any Affiliate thereof) or (B) any violation of the rights of any Person; (iii) the judgment or proposed settlement has no effect on any other Action or claims of a similar nature that may be made against the Indemnitee (or any Affiliate thereof); and shall at all times diligently and promptly pursue (iv) the resolution sole form of such Third Party Claimrelief is monetary damages which are paid in full by the Indemnitor(s). The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, parties hereto agree to cooperate fully with each other in connection with the Indemnifying Parties in the defense defense, negotiation or settlement of any Third Party Claim defended or Stockholder Tax Defense. Notwithstanding the foregoing, the Indemnitee shall have the right to pay or settle any Third Party Claim, provided that in such event, it shall waive any right to indemnity therefor by the Indemnifying PartiesIndemnitor(s) for such claim unless the Indemnitor(s) shall have consented to such payment or settlement (such consent not to be unreasonably withheld or delayed). (ce) In the event that (i) an Indemnitee gives Notice of Claim to the Indemnitor(s) and the Indemnitor(s) fails or elects not to assume a Third Party Defense which the Indemnitor(s) had the right to assume under this Section 9.4 or (ii) the Indemnitor(s) is not entitled to assume the Third Party Defense pursuant to this Section 9.4, the Indemnitee shall have the right, with counsel of its choice, to defend, conduct and control the Third Party Defense, at the sole cost and expense of the Indemnitor(s). In each case, the Indemnitee shall conduct the Third Party Defense actively and diligently. The Indemnifying Parties Indemnitee shall be authorized have the right to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of enter into any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to the Third Party Claim on such proceeding or terms as it may deem appropriate if the matters alleged therein and agree that process may be served on a Party with respect Indemnitor(s) shall have consented to such entry or judgment or settlement (such consent not to be unreasonably withheld or delayed). If the Indemnitor(s) does not elect to assume a claim anywhere in Third Party Defense which it has the worldright to assume hereunder, the Indemnitee shall have no obligation to do so.

Appears in 1 contract

Sources: Merger Agreement (Tube City IMS CORP)

Third Party Claims. (ai) In the event that any Person desires to make If a claim under Sections 10.2 third party initiates a claim, demand, dispute, lawsuit or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder arbitration (a “Third Party Claim”)) against any Indemnified Party with respect to any matter that the Indemnified Party might make a claim for indemnification against any Indemnifying Party under this ARTICLE VIII, then the Person or Persons entitled Indemnified Party shall deliver a Claim Certificate with respect to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and must deliver copies of any documents served on the claim of indemnification Indemnified Party with respect theretoto the Third Party Claim; provided, however, that any failure to notify the Indemnifying Party or deliver copies will not relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party is materially prejudiced by such failure. (ii) Upon receipt of the notice described in Section 8.04(c)(i), the Indemnifying Party will have the right to defend the Indemnified Party by conducting a diligent defense in good faith against the Third Party Claim with counsel reasonably acceptable to the Indemnified Party, provided that failure it assumes all Liability with respect to, and demonstrates to the Indemnified Party’s reasonable satisfaction the financial ability and commitment to fund, such Third Party Claim. If the Indemnifying Party assumes such defense in accordance with the preceding sentence, it shall have the right, with the consent of such Indemnified Party, which consent shall not be unreasonably withheld, to settle all indemnifiable matters related to claims by third parties which are susceptible to being settled; provided, however, that the Indemnifying Party’s obligation to indemnify such Indemnified Party therefor will be fully satisfied only by payment of money by the Indemnifying Party pursuant to a settlement which includes a complete release of such Indemnified Party and no stipulation or admission or that could reasonably be expected to be detrimental to the reputation of the Indemnified Party to give or its Affiliates. The Indemnifying Party shall keep such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) apprised of the status of the claim, Liability or expense and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article Xany resulting suit, the Indemnifying Parties willproceeding or enforcement action, subject to the provisions of Section 10.5(c), assume the defense and control of shall furnish such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity with all documents and information that such Indemnified Party shall reasonably request and shall consult with such Indemnified Party prior to acting on major matters, including settlement discussions. Notwithstanding anything herein stated, such Indemnified Party shall at all times have the right to fully participate in the such defense of such Third Party Claim with its own counsel and at its own expenseexpense directly or through counsel; provided, that however, if an Indemnifying Party is also subject the named parties to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict action or potential conflict exists between proceeding include both the Indemnifying Party and the Indemnified Party, then Party and representation of both parties by the Indemnifying Parties shall same counsel would be liable inappropriate under this Article X applicable standards of professional conduct as determined by counsel for the fees of the Indemnified Party’s , the reasonable expense of separate counsel for such Indemnified Party shall be paid by the Indemnifying Party provided that such Indemnifying Party shall be obligated to pay for only one counsel for the Indemnified Party in any jurisdiction. (iii) If the Indemnifying Party declines to exercise its right to defend under Section 8.04(c)(ii), or if a diligent good faith defense is not being or ceases to be conducted by the Indemnifying Party in accordance with Section 8.04(c)(ii), the Indemnified Party will defend against the Third Party Claim (with counsel selected by such Indemnified Party), and shall have the right to compromise or settle such claim, Liability or expense (exercising reasonable business judgment) with the consent of the Indemnifying Party, which consent shall not be unreasonably withheld. (iv) Notwithstanding any other expenses related provision contained herein to the defense contrary, the Indemnifying Party shall not have the right to assume control of such Third Party Claim. The Indemnifying Parties defense and shall select counsel, contractors pay the reasonable fees and consultants expenses of recognized standing and competence after consultation with counsel retained by the Indemnified Party; shall take all steps necessary in , if the defense claim over which the Indemnifying Party seeks to assume control (A) seeks non-monetary relief, (B) involves criminal or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue quasi-criminal allegations, (C) involves a claim to which the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that reasonably believes an adverse determination would apply to or adversely affect any Indemnified Party or to the conduct of have an adverse effect on any Indemnified Party’s business; and reputation or future business prospects, (iiiD) obtaininvolves a claim that, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected upon petition by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any the appropriate court rules that the Indemnifying Party failed or is failing to vigorously prosecute or defend or (E) involves a claim that a Superior is reasonably expected to result in Liability to the Indemnified Party or Dynamic in excess of the result of (1) the Purchase Price minus (2) the sum of all Losses specified in any then unresolved indemnification claims made by the Purchaser Indemnified Party, as applicable, may have under Parties pursuant to this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the worldARTICLE VIII.

Appears in 1 contract

Sources: Membership Interest Purchase Agreement (Asta Funding Inc)

Third Party Claims. (a) In the event that any Person desires to make If a claim under Sections 10.2 or 10.3 in connection with any claim, action, suitsuit or proceeding (other than a claim, proceedingaction, suit or demand at any time instituted against proceeding with respect to Taxes, which shall be governed exclusively by Section 7.2), by a Person who is not a party hereto or made upon any Person for which such Person may seek indemnification hereunder an Affiliate thereof (a “Third Party Claim”) is made against an Indemnified Party, and if such Person intends to seek indemnity with respect thereto under this Section 10.4(a), such Indemnified Party shall within fifteen days give a Notice of Claim to the Person or Persons entitled Party obligated to indemnification hereunder indemnify such Indemnified Party (such notified party, the “Indemnified Responsible Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, ); provided that the failure of the Indemnified Party to give such prompt notice Notice of Claim shall not relieve the Indemnifying Parties Responsible Party of their its obligations under this Article X, hereunder except to the extent (and only to the extent, if at all, ) that the Indemnifying Parties Responsible Party shall have been actually and materially prejudiced thereby. (b) Upon as a result of such failure or the indemnification obligations are materially increased as a result of such failure. The Responsible Party shall have 30 days after receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions such Notice of this Article XClaim to, the Indemnifying Parties will, subject to the provisions of Section 10.5(c)if it so chooses, assume the conduct and control, at the expense of the Responsible Party, of the settlement or defense and control of such Third Party Claim, but shall allow and the Indemnified Party a reasonable opportunity to participate shall cooperate with the Responsible Party in the defense of such Third Party Claim with its own counsel and at its own expenseconnection therewith; provided, that the Responsible Party shall permit the Indemnified Party to participate in such settlement or defense through counsel chosen by the Indemnified Party (the fees and expenses of such counsel to be borne by the Indemnified Party). Notwithstanding the foregoing, if an Indemnifying Party is also subject to (A) in the good faith, reasonable opinion of Parent after consultation with outside counsel, a Third Party Claim and counsel against a Purchaser Indemnitee (i) involves an issue or matter which would reasonably be expected, if adversely determined, to adversely affect such Purchaser Indemnitee other than as a result of monetary damages or (ii) involves a claim that the Indemnified Party reasonably determines in writing that Representative could not control without there being a conflict of interest (as determined in good faith after consultation with outside counsel) or potential conflict exists between the Indemnifying Party and (B) a Chosen Court, upon petition by the Indemnified Party, then determines that the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related Responsible Party failed or is failing to the defense of vigorously prosecute or defend such Third Party Claim. The Indemnifying Parties , then in each case, Parent shall select counsel, contractors and consultants of recognized standing and competence after consultation with have the Indemnified Party; shall take all steps necessary in right to control the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue . If the resolution Responsible Party assumes the conduct of the defense of such Third Party Claim. The , so long as the Responsible Party is reasonably contesting such Third Party Claim in good faith, then the Indemnified Party shall, shall not pay or settle such Third Party Claim unless the Indemnified Party waives any right to indemnity by the Responsible Party for any and all Losses related to such Third Party Claim (unless the Responsible Party shall cause each have consented to such payment or settlement). If the Responsible Party does not notify the Indemnified Party within 30 days after the receipt of its Affiliates and representatives to, cooperate fully with a Notice of Claim from the Indemnifying Parties in Indemnified Party hereunder that it elects to undertake the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, then the Indemnified Party shall have the right to contest, and settle or compromise (but any settlement or compromise effected without the consent of the Responsible Party, not to be unreasonably withheld, shall not be conclusive as to the amount of any Losses), such Third Party Claim but shall not thereby waive any right to indemnity therefor pursuant to this Agreement. If the Responsible Party assumes the defense of a Third Party Claim, then the Responsible Party shall obtain the prior written consent of the Indemnified Party before entering into any settlement, compromise or discharge of a Third Party Claim unless such settlement, compromise or discharge by its terms (1) obligates the Responsible Party to pay the full amount of Losses, if any, in connection with such Third Party Claim; (2) does not impose any injunctive or other equitable relief against the Indemnified Party; but only if and (3) expressly and unconditionally releases the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree from all liabilities with respect to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (db) Each All of the Parties hereby consents to shall cooperate in the nonexclusive jurisdiction defense or prosecution of any court in which a proceeding Third Party Claim in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Partywhich indemnity may be sought hereunder and each of Parent and the Surviving Corporation shall furnish such records, information and testimony, and attend such conferences, discovery proceedings, hearings, trials and appeals, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere reasonably requested in connection therewith and otherwise provide the worldaccess and information contemplated by Section 10.3.

Appears in 1 contract

Sources: Merger Agreement (Dealertrack Technologies, Inc)

Third Party Claims. (ai) In If the event that Indemnified Party shall receive notice of any Person desires claim by a third party which is or may be subject to make a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a "Third Party Claim"), the Person or Persons entitled to indemnification hereunder (Indemnified Party shall give the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) Indemnitor prompt written notice of such Third Party Claim and shall permit the claim of indemnification with respect theretoIndemnitor, provided that failure of at the Indemnified Party Indemnitor's option, to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with or to participate in the defense using counsel of its own counsel choice and at its own expense; provided, however that if an Indemnifying the Indemnitor shall not have the right to assume the defense of a Third Party is also subject Claim: (1) to the extent such Third Party Claim seeks an injunction, restraining order, declaratory relief or other non-monetary relief and counsel such Third Party Claim, if decided adversely, would have a material adverse effect on the Indemnified Party; or (2) if the named parties to any such Third Party Claim (including any impleaded parties) include both the Indemnified Party reasonably determines and the Indemnitor and (A) the Indemnified Party shall have been advised by counsel that there are one or more legal or equitable defenses available to it which are different from or additional to those available to the Indemnitor, and (B) in writing that a conflict or potential conflict exists between the Indemnifying Party and reasonable opinion of counsel for the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X counsel for the fees Indemnitor would not be able to adequately represent the interests of the Indemnified Party because such interests would materially conflict with those of the Indemnitor, and (C) such Third Party Claim, if decided adversely, would have a Material Adverse Effect on the Indemnified Party’s counsel and any . (ii) Regardless of which party is controlling the defense of a Third Party Claim: (1) the controlling party shall keep the other expenses related to party fully informed of such Third Party Claim at all stages thereof; (2) the party not controlling the defense of such Third Party Claim. The Indemnifying Parties Claim shall select counselmake available, contractors without charge, to the other party all books and consultants records of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such party relating to such Third Party Claim; (3) the party not controlling the defense of the Third Party Claim shall cooperate with the other in connection therewith and shall at all times diligently furnish such records, information and promptly pursue testimony and attend such conferences, discovery proceedings, hearings, trials and appeals as may be reasonably requested by the resolution Indemnitor in connection therewith, and (iv) subject to Section 14(b)(iii) below, the controlling party shall not make any settlement of any Third Party Claim without the written consent of the party not controlling the defense, such consent not to be unreasonably withheld. (iii) If the Indemnitor exercises its right to assume the defense of a Third Party Claim. The , the Indemnified Party shallmay participate, and shall cause each through counsel of its Affiliates own choice and representatives toat its own expense, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended Claim, action or suit as to which the Indemnitor has elected to assume and control the defense thereof, and the Indemnitor shall not make any settlement of any such action, suit or proceeding without the written consent of the Indemnified Party, unless the settlement involves only the payment of money by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized Indemnitor without prejudice to consent to a settlement of, or the entry of any judgment arising from, Indemnified Party. So long as the Indemnitor is defending in good faith any Third Party ClaimClaim as to which indemnification has been sought hereunder, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party shall not settle or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by compromise such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Merger Agreement (Intest Corp)

Third Party Claims. (a) In If any Claiming Party receives written notice of a third-party claim that the event that any Person desires to make Claiming Party reasonably believes may result in a claim under Sections 10.2 or 10.3 in connection with any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder Liability Claim (a “Third Party Claim”), such Claiming Party will notify Purchaser, the Representative or, in the case of a third-party claim that may result in a Direct Shareholder Claim, the applicable Indemnitor of such third-party claim, as the case may be, and the Person or Persons entitled to from whom indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of is being sought, at such Third Party Claim and the claim of indemnification with respect theretoPerson’s own cost, provided that failure of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant right to Section 10.5(a) direct and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article Xconduct, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the any defense of such Third Party Claim with its own counsel and at its own expenseclaim; provided, however, that if an Indemnifying Claiming Party may also participate in any proceeding with counsel of its choice at its expense. In such event, (i) the party from whom indemnification is also subject sought shall provide written notice to the Third Claiming Party Claim and counsel of its election to assume such defense prior to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the Indemnifying Parties shall be liable under this Article X for the fees expiration of the Indemnified Party’s counsel thirty (30) day response period, and (ii) the party from whom indemnification is sought shall have the right to settle or resolve any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and provided, however, that any such settlement or resolution shall at all times diligently and promptly pursue not be concluded without the resolution prior written approval of the Claiming Party, such Third Party Claimapproval not to be unreasonably withheld, delayed or conditioned. The Indemnified Party shallFor purposes of the preceding sentence, and withholding, delaying or conditioning approval shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties not be deemed unreasonable in the defense following circumstances relating to such settlement or resolution: (A) a finding or admission of any violation by the Purchaser of any legal requirement or of any rights of any Person; (B) failure to receive a full release of claims that may be made against the Claiming Party and its Affiliates; and (C) granting of any relief other than monetary Losses that are paid in full by the party from whom indemnification is sought that would affect the Claiming Party; provided, however, that the provisions of this sentence shall not apply to any Third Party Claim defended by the Indemnifying Parties. relating or attributable to Taxes or Tax Returns (c) The Indemnifying Parties which shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or subject to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a claim anywhere approval rights contained in the worldpreceding sentence).

Appears in 1 contract

Sources: Share Exchange Agreement (Agenus Inc)

Third Party Claims. (a) 9.7.1 In the event that API or any Stockholder shall become subject to a proceeding initiated by a Person desires not a party to make this Agreement which may result in a claim under Sections 10.2 or 10.3 in connection with Loss to any action, suit, proceeding, or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder Indemnified Party (each a "Third Party Claim”Proceeding"), the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) Party shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) give notice of such Third Party Claim and Proceeding to the applicable Indemnifying Parties, which notice shall set forth the basis for the basis of the claim made in such Third Party Proceeding in reasonable detail (including, if applicable, the Section of indemnification with respect theretothis Agreement to which such claim relates) and, provided that failure if such claim is limited in amount, the amount of such limit. 9.7.2 If any Third Party Proceeding is brought against an Indemnified Party and it gives notice to the Indemnifying Party(ies) of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extent, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice is subject to indemnification by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control commencement of such Third Party ClaimProceeding, but shall allow the Indemnifying Party(ies) will, unless the claim involves Taxes, be entitled to participate in such Third Party and, to the extent that it wishes (unless (a) the Indemnifying Party(ies) is(are) also a party to such Third Party Proceeding and the Indemnified Party a determines in good faith that joint representation would be inappropriate, or (b) the Indemnifying Party(ies) fail(s) to provide reasonable opportunity assurance to participate in the Indemnified Party(ies) of its (their) financial capacity to defend such Third Party Proceeding and provide indemnification with respect to such Third Party Proceeding), to assume the defense of such Third Party Claim Proceeding with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel reasonably satisfactory to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between Party(ies) and, after notice from the Indemnifying Party and Party(ies) to the Indemnified PartyParty(ies) of its(their) election to assume the defense of such Third Party Proceeding, then the Indemnifying Parties shall Party(ies) will not, as long as it(they) diligently conduct(s) such defense, be liable to the Indemnified Party(ies) under this Article X Section for the any fees of the Indemnified Party’s other counsel and or any other expenses related with respect to the defense of such Third Party Claim. The Indemnifying Parties shall select counselProceeding, contractors and consultants of recognized standing and competence after consultation in each case subsequently incurred by the Indemnified Party(ies) in connection with the Indemnified Party; shall take all steps necessary in defense of such Third Party Proceeding, other than reasonable costs of investigation. If the Indemnifying Party(ies) assume(s) the defense of a Third Party Proceeding: (i) it will be conclusively established for purposes of this Agreement that the claims made in that Third Party Proceeding are within the scope of and subject to indemnification; (ii) no compromise or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended claims may be effected by the Indemnifying Parties. Party(ies) without the Indemnified Party's(ies') consent unless (cA) The Indemnifying Parties shall be authorized to consent to a settlement of, there is no finding or the entry admission of any judgment arising from, violation of law or any Third Party Claim, without violation of the consent rights of any Person and no effect on any other claims that may be made against the Indemnified Party; but only if Party(ies), and (B) the sole relief provided is monetary damages that are paid in full by the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s businessParty(ies); and (iii) obtain, as a condition the Indemnified Party(ies) will have no liability with respect to any compromise or settlement of such claims effected without its(their) consent. If notice is given to an Indemnifying Party(ies) of the commencement of any settlement or other resolutionThird Party Proceeding and the Indemnifying Party(ies) do(es) not, a complete release within ten (10) days after the Indemnified Party's(ies') notice is given, give notice to the Indemnified Party(ies) of any Indemnified Party potentially affected by its(their) election to assume the defense of such Third Party ClaimProceeding, the Indemnifying Party(ies) will be bound by any determination made in such Third Party Proceeding or any compromise or settlement effected by the Indemnified Party(ies). (d) Each 9.7.3 Notwithstanding the foregoing, if an Indemnified Party determines in good faith that there is a reasonable probability that a Third Party Proceeding may adversely affect it or its affiliates other than as a result of the Parties hereby consents monetary damages for which it would be entitled to indemnification under this Agreement, such Indemnified Party may, by notice to the nonexclusive Indemnifying Party(ies), assume the exclusive right to defend, compromise, or settle such Third Party Proceeding, but the Indemnifying Party(ies) will not be bound by any determination of a Third Party Proceeding so defended or any compromise or settlement effected without its consent (which may not be unreasonably withheld). 9.7.4 The parties hereto hereby consent to the non-exclusive jurisdiction of any court in which a proceeding in respect of a Third-Third Party Claim Proceeding is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, Person for purposes of any claim that a Superior an Indemnified Party or Dynamic Indemnified Party, as applicable, Person may have under this Agreement with respect to such proceeding Third Party Proceeding or the matters alleged therein therein, and agree that process may be served on a Party the Indemnifying Party(ies) with respect to such a claim anywhere in the world.

Appears in 1 contract

Sources: Merger Agreement (Advanced Photonix Inc)

Third Party Claims. (a) In the event that any Person desires to make If a claim for which indemnification may be sought under Sections 10.2 this Section 9.2 is asserted by third parties (including any environmentally related remedial or 10.3 clean up work) (the "Third Party Claims"), such Third Party Claim will be subject to the following terms and conditions: (i) upon receipt of written notice of any Third Party Claim asserted against, imposed upon or incurred by Chesapeake and its affiliates or the Shareholders, as the case may be (the "Indemnified Party"), the party from whom indemnification is sought (the "Indemnifying Party") may, at its own expense, participate in connection and, upon notice to the Indemnified Party undertake the defense thereof by counsel of its own choosing, which counsel shall be reasonably satisfactory to the Indemnified Party, provided that, if in the Indemnified Party's reasonable judgment a conflict of interest may exist between such Indemnified Party and the Indemnifying Party with respect to such Third Party Claim, such Indemnified Party shall be entitled to select counsel of its own choosing to defend the Third Party Claim (with the fees and costs of such counsel being at the Indemnifying Party's sole cost and expense); (ii) if (A) within a reasonable time after written notice to the Indemnifying Party of a Third Party Claim, the Indemnifying Party fails to notify the Indemnified Party that it will assume the defense of the Third Party Claim or (B) within a reasonable time after written notice to the Indemnified Party of its intention to undertake the defense of any Third Party Claim, the Indemnifying Party fails to defend the Indemnified Party, the Indemnified Party will have the right to undertake the defense, compromise or settlement of such Third Party Claim for the account and at the risk of the Indemnifying Party; (iii) anything in this Section 9.2(c) to the contrary notwithstanding, if there is a reasonable probability in the Indemnified Party's judgment that a claim may materially and adversely affect the Indemnified Party, other than as a result of money damages or other money payments, the Indemnified Party will have the right to defend, co-defend, compromise or settle such Third Party Claim (with full disclosure of the proposed settlement terms being given to the Indemnifying Party prior to settlement thereof) by selecting counsel of its own choosing (with the fees and costs of such counsel being the Indemnified Party's sole cost and expense); (iv) the Indemnified Party shall cooperate fully in all reasonable respects with the Indemnifying Party in any such defense, compromise or settlement including, without limitation, by making available to the Indemnifying Party all pertinent information and all books and records under the control of the Indemnified Party; (v) the Indemnifying Party shall not compromise or settle any such action, suit, proceeding, claim or demand at any time instituted against or made upon any Person for which such Person may seek indemnification hereunder (a “Third Party Claim”), without the Person or Persons entitled to indemnification hereunder (the “Indemnified Party”) shall promptly notify the Party or Parties required to provide indemnification hereunder (the “Indemnifying Party”) of such Third Party Claim and the claim of indemnification with respect thereto, provided that failure prior written approval of the Indemnified Party to give such prompt notice shall not relieve the Indemnifying Parties of their obligations under this Article X, except to the extentParty; provided that, if at all, that the Indemnifying Parties shall have been prejudiced thereby. (b) Upon receipt of notice from the Indemnified Party pursuant to Section 10.5(a) and provided that the Indemnifying Party confirms in writing that the subject matter set forth in the notice such prior written approval is subject to indemnification unreasonably withheld by the Indemnifying Party under the applicable provisions of this Article X, the Indemnifying Parties will, subject to the provisions of Section 10.5(c), assume the defense and control of such Third Party Claim, but shall allow the Indemnified Party a reasonable opportunity to participate in the defense of such Third Party Claim with its own counsel and at its own expense; provided, that if an Indemnifying Party is also subject to the Third Party Claim and counsel to the Indemnified Party reasonably determines in writing that a conflict or potential conflict exists between the Indemnifying Party and the Indemnified Party, then the liability of the Indemnifying Parties shall be liable under this Article X for the fees of the Indemnified Party’s counsel and any other expenses related to the defense of such Third Party Claim. The Indemnifying Parties shall select counsel, contractors and consultants of recognized standing and competence after consultation with the Indemnified Party; shall take all steps necessary in the defense or settlement of such Third Party Claim; and shall at all times diligently and promptly pursue the resolution of such Third Party Claim. The Indemnified Party shall, and shall cause each of its Affiliates and representatives to, cooperate fully with the Indemnifying Parties in the defense of any Third Party Claim defended by the Indemnifying Parties. (c) The Indemnifying Parties shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any Third Party Claim, without the consent of any Indemnified Party; but only if the Indemnifying Parties shall (i) pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness of such settlement; (ii) not encumber any of the assets of any Indemnified Party or agree to any restriction or condition that would apply to or adversely affect any Indemnified Party or to the conduct of any Indemnified Party’s business; and (iii) obtain, as a condition of any settlement or other resolution, a complete release of any Indemnified Party potentially affected by such Third Party Claim. (d) Each of the Parties hereby consents to the nonexclusive jurisdiction of any court in which a proceeding in respect of a Third-Party Claim is brought against any Superior Indemnified Party or Dynamic Indemnified Party, as applicable, for purposes of any claim that a Superior Indemnified Party or Dynamic Indemnified Party, as applicable, may have under this Agreement with respect to such proceeding or the matters alleged therein and agree that process may be served on a Party with respect to such a action, suit, proceeding, claim anywhere in or demand shall be limited to the worldamount of the settlement recommended by the Indemnifying Party and not approved by the Indemnified Party.

Appears in 1 contract

Sources: Merger Agreement (Chesapeake Utilities Corp)