PDLP definition
Examples of PDLP in a sentence
CVBT and PDLP shall each be excused for any failure or delay in performing any of their respective obligations under this Agreement, if such failure or delay is caused by a force, effect, cause or circumstance beyond the control of the nonperforming party.
None of CVBT or PDLP shall enter into, or permit, any settlement of any Claim for which indemnification is being sought by such party hereunder without the express written consent of each other party (or a CVBT or PDLP Indemnitee, as the case may be), which consent shall not be unreasonably withheld or delayed.
Subject to the foregoing any reference to CVBT or PDLP hereunder shall be deemed to include the successors thereto and assigns thereof.
To the extent permitted by applicable law, CVBT and PDLP hereby waive any provision of law that would render any provision hereof prohibited or unenforceable in any respect.
This Agreement, together with any agreements referenced herein, constitute, on and as of the date hereof, the entire agreement of CVBT and PDLP with respect to the subject matter hereof, and all prior or contemporaneous understandings or agreements, whether written or oral, between CVBT and PDLP with respect to such subject matter are hereby superseded in their entirety.
An PDLP Indemnitee shall promptly notify CVBT of any Claim with respect to which an PDLP Indemnitee is seeking indemnification hereunder, upon becoming aware thereof, and permit CVBT at CVBT’s cost to defend against such Claim and shall cooperate in the defense thereof.
Nothing contained in this Agreement is intended or is to be construed to constitute CVBT and PDLP as partners or joint venturers or one party as an employee of any other party.
An Indemnitee hereunder shall promptly notify PDLP of any Claim with respect to which such Indemnitee is seeking indemnification hereunder, upon becoming aware thereof, and permit PDLP at PDLP’s cost to defend against such Claim and shall cooperate in the defense thereof.
No provision of this Agreement shall be varied, contradicted or explained by any other agreement, course of dealing or performance or any other matter not set forth in an agreement in writing and signed by CVBT and PDLP.
With respect to the rights of third parties that may be obtained by CVBT after the date hereof, and which are necessary or useful to the Development under the Development Agreement, CVBT shall use commercially reasonable efforts to secure such rights and the right to sublicense such rights to PDLP and shall sublicense such rights to PDLP whenever possible; provided that PDLP shall not be obligated to accept any grant of rights or assume any obligations hereunder without its prior written consent.