mutual indemnity definition
mutual indemnity provision means both parties in a contractual agreement agree to protect the other party against loss or damage.
mutual indemnity. Each party shall indemnify, defend, protect and hold the other, any partner, co-venturer, co-tenant, officer, director, employee, agent, or representative of the other (collectively, "Affiliates") harmless against and from all claims, damages and liabilities, arising from each party's use and operation of their respective property and/or the conduct of their respective or from any activity, work, or other thing done, permitted or suffered by each of them as to each other in or about the Building, and shall further indemnify and hold each other, any partner, co-venturer, co-tenant, officer, director, employee, agent, or representative of each other harmless against and from any and all claims, damages and liabilities, directly arising from any breach or default in the performance of any obligation on either party's part to be performed under the terms of this Lease, or arising from any act or negligence of either party or any officer, agent, or employee, guest, and from all and against all costs, attorneys' fees, expenses, and liabilities incurred in or about any such claim or any action or proceeding brought thereon, and, in any case, action, or proceeding brought against either specific party by reason of any such claim. Each party as a material part of the consideration to the other under this Lease, hereby assumes all risk of damage to property or injury to persons in, upon or about the Premises, except that neither party shall assume any risk for damage resulting from the gross negligence or willful misconduct of the other party or its authorized representatives.
mutual indemnity. Each party will indemnify and hold harmless the other party and its directors, officers, employees, agents and Affiliates against any and all damages, losses, claims, obligations, commitments, costs or expenses (including reasonable attorney’s fees and costs) incurred by such other party that relate to this Agreement and arise out of the death or bodily injury of any person, to the extent such death or bodily injury was caused by the gross negligence or willful misconduct of such party or its employees or agents in the performance of such party’s obligations hereunder, and the damage, loss or destruction of any real or tangible personal property, to the extent that such damage, loss or destruction was caused by the gross negligence or willful misconduct of such party or its employees or agents in the performance of such party’s obligations hereunder; provided, however, that (a) the indemnified party provides prompt written notice of any such claim(s) to the indemnifying party and further provided that the failure to so notify will only relieve the indemnifying party of its obligations under this Section 10 if and to the extent that the indemnifying party is prejudiced thereby; (b) the indemnifying party has sole control of the defense and all related settlement negotiations; and (c) the indemnified 8
More Definitions of mutual indemnity
mutual indemnity. Each Party (the “Indemnifying Party”) will defend and indemnify the other Party (the “Indemnified Party”) against any claim or action brought by a third party, to the extent such claim or action is based on any allegation which, if proven, would constitute a breach of the warranties contained in Section 4(A).