Defense by Indemnifying Party. For any Third Party Claim concerning which notice is required to be given under Section 1.3(a), the Indemnifying Party may elect to defend and, subject to Section 1.3(f), may settle or compromise the Third Party Claim using counsel appointed by the Indemnifying Party, which counsel shall be reasonably satisfactory to the Indemnitee. An Indemnifying Party electing to defend a Third Party Claim must notify the Indemnitee of its election to defend within twenty (20) days of receipt of notice of such claim pursuant to Section 1.3(a) or sooner if the nature of the Third Party Claim so requires.
Appears in 4 contracts
Samples: Indemnification and Insurance Matters Agreement, Form of Indemnification and Insurance Matters Agreement (InB:Biotechnologies, Inc.), Indemnification and Insurance Matters Agreement (iBioPharma, Inc.)
