Indemnitor definition
Examples of Indemnitor in a sentence
The Indemnitor shall have thirty (30) days after its receipt of such notice to respond in writing to such claim.
So long as the Indemnitor has assumed and is conducting the defense of the Third-Party Claim in accordance with Section 5.4(b), the Indemnitee 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 Indemnitor (which consent will not be unreasonably conditioned, withheld or delayed by the Indemnitor).
The failure to give prompt written notice shall not relieve the Indemnitor of its indemnification obligations except to the extent that the Indemnitor is actually and materially prejudiced as a result of such failure.
If within thirty (30) days of receipt of such notice, the Indemnitor has not contested such claim in writing, the Indemnitor will be deemed to have accepted all liability with respect to such claim, subject to the limitations set forth in Section 5.3.
If the Indemnitor rejects liability for the matters set forth in such claim by timely submitting a response to Indemnitee, then the Parties shall engage in good faith discussions with respect to such matters for a period of not more than thirty (30) days.