Third Party Action definition

Third Party Action means any suit or proceeding by a person or entity other than a Party for which indemnification may be sought by a Party under Article VI.

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Third Party Action has the meaning set forth in Section 9.2.

Third Party Action means any written assertion of a claim, or the commencement of any action, suit, or proceeding, by a third party as to which any person believes it may be an Indemnified Person hereunder.

Examples of Third Party Action in a sentence

The non-controlling Party shall promptly furnish the controlling Party with such information as it may have with respect to such Third Party Action (including copies of any summons, complaint, or other pleading which may have been served on such party and any written claim, demand, invoice, billing, or other document evidencing or asserting the same) and shall otherwise cooperate with and assist the controlling Party in the defense of such Third Party Action.
If the Indemnifying Party does not, or is not permitted under the terms hereof to, so assume control of the defense of a Third Party Action, then the Indemnified Party shall control such defense.
The controlling Party shall keep the non-controlling Party advised of the status of such Third Party Action and the defense thereof and shall consider in good faith recommendations made by the non-controlling Party with respect thereto.
Such notification shall be given promptly after receipt by the Indemnified Party of notice of such Third Party Action, and shall describe in reasonable detail (to the extent then known by the Indemnified Party) the facts constituting the basis for such Third Party Action and the amount of the claimed damages.

More Definitions of Third Party Action

Third Party Action means any claim or action made by a Third Party against a Party that claims that a Licensed Product, or its use, Development, manufacture or sale infringes such Third Party’s intellectual property rights.

Third Party Action has the meaning set forth in Section 8.7.1.

Third Party Action shall have the meaning assigned to it in Section 14(a) hereof.

Third Party Action has the meaning given in Section 7.3(a), below.

Third Party Action shall have the meaning ascribed to such term in Section 6.3.

Third Party Action means any Legal Proceeding by a Person other than a Party for which indemnification may be sought by the Purchaser under ARTICLE 6.

Third Party Action is defined in Section 9.1.1.