Common use of Watermark Clause in Contracts

Watermark. To pay all expenses incurred by Manager, including without limitation, attorneys’ fees for counsel employed to represent Manager, Owner, or both of them in any proceeding, controversy, or suit involving the Property, the ownership, or operation thereof. Nothing herein contained shall require Manager to employ counsel to represent Owner in any such proceeding or suit. In this regard, Owner agrees to indemnify, defend and save Manager harmless from all claims, investigations and suits with respect to any alleged or actual violations of state, federal, city or county labor laws. Owner’s obligations under this paragraph shall include payment of all settlements, judgments, demands, liquidated damages, penalties, forfeitures, back pay awards, court costs, litigation expenses and attorneys’ fees. However, protection is not afforded by applicable insurance coverage where the claim is based upon the willful negligence of Manager or its employees;