Examples of Vendor Indemnified Persons in a sentence
Vendor and Purchaser shall hold the indemnities contained in Section 10.1 in trust on behalf of Vendor Indemnified Persons or Purchaser Indemnified Persons, as applicable, and may enforce those indemnities on its and their respective behalf.
If a court determines that: (a) Section 9.1 does not create direct rights in favour of the Purchaser’s Indemnified Persons, then the Purchaser confirms that it is acting as agent and trustee on their behalf, and (b) Section 9.2 does not create direct rights in favour of the Vendor Indemnified Persons, then the Vendors confirm that they are acting as agents and trustees on their behalf.
The amount of the indemnification for any Claim which the Purchaser Indemnified Persons and the Vendor Indemnified Persons shall be entitled to receive pursuant to this Agreement shall be payable on demand and shall be determined after giving effect to any insurance recoveries, tax savings and recoveries from third parties and of any interest, fines, penalties, expenses and disbursements of any nature whatsoever incurred by Opco.