Mutual Indemnification definition
Mutual Indemnification section states the indemnifying party’s sole liability to, and the indemnified party’s exclusive remedy against, the other party for any third-party claim described in this section.
Mutual Indemnification. Each party shall defend, indemnify, and hold harmless the other party and its subsidiaries and affiliates, and their respective directors, officers, employees, and agents, from and against all claims, causes of action, demands, losses, damages, liabilities, settlement amounts, and costs and expenses of any type whatsoever (including reasonable attorneys' fees and costs) arising from or related to any breach of any representation or warranty by the indemnifying party in Article 7 of this Agreement.
Mutual Indemnification. If the Limited Partners are jointly, or jointly and severally liable for any obligations (including under any guarantee), or deemed statutorily, by common law, or by judgement of a court or other tribunal or board having jurisdiction to be jointly or jointly and severally liable for any obligations, in each case where such obligations relate to the Partnership or the Partnership Property, the respective liability of each of the Limited Partners, as between themselves, shall be limited in accordance with their respective Percentage Interests and be as more particularly provided in Section 18.04. In the event that, notwithstanding the foregoing provisions of this Section, any Limited Partner (hereinafter in this Section called the "NON-DEFAULTING PARTY") shall in fact pay moneys pursuant to any demand from any third party under any liability in any amount(s) in excess of its Percentage Interest thereof as aforesaid (the others of the Limited Partners which shall have paid no money or shall not have paid its Percentage Interest thereof as aforesaid, being referred to in this Section as the "DEFAULTING PARTIES"), each of the Defaulting Parties shall pay to the Non-Defaulting Party its Percentage Interest of the excess amount of money so paid by the Non-Defaulting Party on demand as aforesaid, together with accrued interest thereon from the date the Non-Defaulting Party paid such money to the date that such Defaulting Party repays such money to the Non-Defaulting Party at the rate of 5% per annum in excess of the Prime Rate as published from time to time by the Wall Street Journal, provided that the obligation to pay such interest shall be subject to the provisions of Section 8.07. Each of the Limited Partners (herein called the "INDEMNIFYING PARTNER") hereby indemnifies and shall forever save harmless each other Limited Partner (herein called the "INDEMNIFIED PARTNER") within 10 days of written demand being made therefor by an Indemnified Partner, to the extent of that portion of all moneys which the Indemnified Partner has paid or may be required to pay or liability to which it is or may become subject by reason of any such joint or joint and several liability or by reason of any actions, proceedings, liability, claims, damages, costs and expenses in relation thereto or arising therefrom, which is in excess of such Indemnified Partner's Percentage Interest of such moneys or liability and which has been paid or incurred by such Indemnified Partner.
Examples of Mutual Indemnification in a sentence
The sections and subsections titled Definitions, Ownership; Limitations, Warranties, Mutual Limitation of Liability, Mutual Confidentiality, Mutual Indemnification, Effect of Termination, and Miscellaneous will survive expiration or termination of this Agreement for any reason.
Except as provided in the sections titled Warranties and Mutual Indemnification, the parties’ rights and remedies under this Agreement are cumulative.
Section 7 (Proprietary Rights), 8 (Confidentiality), 9.4 (Disclaimer), 10 (Mutual Indemnification), 11 (Limitation of Liability), 12.4 (Data Portability and Deletion), 13 (Notices, Governing Law and Jurisdiction) and 14 (General Provisions) and any other rights and obligations of the parties hereunder that by their nature are reasonably intended to survive termination or expiration, shall survive any termination or expiration of this Agreement.
More Definitions of Mutual Indemnification
Mutual Indemnification. Limitation of Liability," "Refund or Payment upon Termination," "Portability and Deletion of Your Data," "Who You Are Contracting With, Notices, Governing Law and Jurisdiction," and "General Provisions" will survive any termination or expiration if this Agreement.
Mutual Indemnification. Each party agrees to defend, indemnify and hold harmless the other party and its officers, directors, managers, personal representatives, agents and employees from and against any and all losses, liabilities, costs, expenses, damages, claims, demands, suites or judgments (including, without limitation, reasonable attorneys’ fees, disbursements and the costs of any legal action) (collectively, the “Damages”) arising out of or resulting from, directly or indirectly, (i) such party’s breach of this Agreement, (ii) inaccurate representation or warranty, or (iii) negligent or willful act or omission, including those of the party’s or legal representatives, successors, assigns, independent contractors, partners, agents or employees.
Mutual Indemnification. Each party (the "Indemnifying Party") shall defend, indemnify and hold the other party (the "Indemnified Party") harmless from and against all liability, claims, lawsuits, demands, costs (including reasonable attorneys' fees), damages (including compensatory, punitive, statutory or other damages of all kinds), penalties, fines and expenses arising from:
(i) the accuracy of information transmitted by the Indemnifying Party; (ii) any of the Indemnifying Party's own or its agents' acts or omissions while transmitting, receiving, storing or handling data or performing activities related to the electronic transactions covered under this Agreement; and
Mutual Indemnification. Except as specified in Section 5.2, each party to this Agreement agrees to mutually indemnify the other party from any judgment
Mutual Indemnification. The Group assumes full responsibility for the conduct of all persons in attendance at
Mutual Indemnification. Parties agree to indemnify and hold harmless the other, and their officers, directors, employees, shareholders, agents, successors and assigns from and against all legal claims and losses of any kind, arising in favor of a third party in connection with any actual or alleged defect related to the training or services provided by ESP or its subsidiaries or ConSol under this MOU.
Mutual Indemnification means the cooperative and collaborative element of takaful where the participants mutually provide insurance cover for one another in the event of any mishap;