Indemnity Payment definition

Indemnity Payment shall have the meaning set forth in Section 4.4(a).

Indemnity Payment has the meaning set forth in Section 6.04(a).

Indemnity Payment has the meaning set forth in Section 9.5.

Examples of Indemnity Payment in a sentence

• If an Indemnitee receives a payment (an “Indemnity Payment”) required by this Agreement from an Indemnifying Party in respect of any Liability and subsequently receives Insurance Proceeds, then the Indemnitee will pay to the Indemnifying Party an amount equal to the excess of the Indemnity Payment received over the amount of the Indemnity Payment that would have been due if the Insurance Proceeds had been received, realized or recovered before the Indemnity Payment was made.

• Until the Indemnified Party recovers full payment of its Loss, any and all claims of the Indemnifier against any such third party on account of such Indemnity Payment shall be postponed and subordinated in right of payment to the Indemnified Party’s rights against such third party.

• Upon making a full Indemnity Payment, the Indemnifier shall, to the extent of such Indemnity Payment, be subrogated to all rights of the Indemnified Party against any third party in respect of the Loss to which the Indemnity Payment relates.

• If the amount of Damages incurred by an Indemnified Person at any time subsequent to the making of an Indemnity Payment is reduced by any recovery, settlement or otherwise under any insurance coverage or under any claim, recovery, settlement or payment by or against any other Person, the Indemnified Person shall promptly repay to the Indemnifier the amount of the reduction (less any costs, expenses (including Taxes) or premiums incurred in connection therewith).

• Until the Indemnified Person recovers full payment of its Damages, any and all claims of the Indemnifier against any such third party on account of that Indemnity Payment will be postponed and subordinated in right of payment to the Indemnified Person's rights against that third party.

More Definitions of Indemnity Payment

Indemnity Payment shall have the meaning set forth in Section 7.8(a).

Indemnity Payment has the meaning set forth in Section 3.5(a).

Indemnity Payment an amount that an Indemnifying Party is required to pay to an Indemnitee pursuant to Article IV.

Indemnity Payment means any amount of Indemnified Loss required to be paid pursuant to Sections 5.2 or 5.3 hereof; and

Indemnity Payment means any amount of Indemnifiable Losses required to be paid pursuant to this Agreement; and

Indemnity Payment. With respect to any Receivable in respect of which a payment is required to be made by the Issuer, the Depositor or the Receivables Seller under Section 2.3 of this Indenture, the Receivables Pooling Agreement or the Receivables Sale Agreement, and as of the Payment Date on which the “Indemnity Payment” must be made, the Receivable Balance of such Receivable as of such Payment Date.

Indemnity Payment means an amount that an Indemnifying Party is required to pay to an Indemnitee under this Agreement.