Common use of Agreement for the Parties’ Benefit Only Clause in Contracts

Agreement for the Parties’ Benefit Only. This Agreement is for the sole benefit of Buyer, Seller and their respective successors and assigns as permitted herein and no other Person shall be entitled to enforce this Agreement, rely on any representation, warranty, covenant or agreement contained herein, receive any rights hereunder or be a third-party beneficiary of this Agreement. Any Indemnified Person which is a third Person shall be indemnified and held harmless under the terms of this Agreement only to the extent that a Party expressly elects to exercise such right of indemnity and hold harmless on behalf of such third Person Indemnified Person pursuant to Section 13.3; and no Party shall have any direct liability or obligation to any third Person or be liable to any third Person for any election or non-election or any act or failure to act under or in regard to any term of this Agreement. Any claim for indemnity or hold harmless hereunder on behalf of an Indemnified Person must be made and administered by a Party to this Agreement.

Appears in 4 contracts

Samples: Asset Purchase Agreement, Asset Purchase Agreement (Parsley Energy, Inc.), Asset Purchase Agreement (Chaparral Energy, Inc.)

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Agreement for the Parties’ Benefit Only. This Agreement is for the sole benefit of Buyer, Seller and their respective successors and assigns as permitted herein and no other Person shall be entitled to enforce this Agreement, rely on any representation, warranty, covenant or agreement contained herein, receive any rights hereunder or be a third-third party beneficiary of this Agreement. Any Indemnified Person which is a third Person party shall be indemnified and held harmless under the terms of this Agreement only to the extent that a Party party expressly elects to exercise such right of indemnity and hold harmless on behalf of such third Person party Indemnified Person pursuant to Section 13.3; and no Party party shall have any direct liability or obligation to any third Person party or be liable to any third Person party for any election or non-election or any act or failure to act under or in regard to any term of this Agreement. Any claim for indemnity or hold harmless hereunder on behalf of an Indemnified Person must be made and administered by a Party party to this Agreement. Any claim on behalf of an Indemnified Person may only be brought against the defaulting party or parties.

Appears in 1 contract

Samples: Asset Purchase Agreement (BreitBurn Energy Partners L.P.)

Agreement for the Parties’ Benefit Only. This Agreement is for the sole benefit of BuyerBuyers, Seller and their respective successors and assigns as permitted herein and no other Person shall be entitled to enforce this Agreement, rely on any representation, warranty, covenant or agreement contained herein, receive any rights hereunder or be a third-third party beneficiary of this Agreement. Any Indemnified Person which is a third Person shall be indemnified and held harmless under the terms of this Agreement only to the extent that a Party expressly elects to exercise such right of indemnity and hold harmless on behalf of such third Person Indemnified Person pursuant to Section 13.314.3; and no Party shall have any direct liability or obligation to any third Person or be liable to any third Person for any election or non-election or any act or failure to act under or in regard to any term of this Agreement. Any claim for indemnity or hold harmless hereunder on behalf of an Indemnified Person must be made and administered by a Party to this Agreement. Any claim on behalf of an Indemnified Person may only be brought against the defaulting Party or Parties.

Appears in 1 contract

Samples: Asset Purchase Agreement (Quicksilver Resources Inc)

Agreement for the Parties’ Benefit Only. This Agreement is for the sole benefit of Buyer, Seller and their respective successors and assigns as permitted herein and no other Person shall be entitled to enforce this Agreement, rely on any representation, warranty, covenant or agreement contained herein, receive any rights hereunder or be a third-third party beneficiary of this Agreement. Any Indemnified Person which is a third Person party shall be indemnified and held harmless under the terms of this Agreement only to the extent that a Party party expressly elects to exercise such right of indemnity and hold harmless on behalf of such third Person party Indemnified Person pursuant to Section 13.314.3; and no Party party shall have any direct liability or obligation to any third Person party or be liable to any third Person party for any election or non-election or any act or failure to act under or in regard to any term of this Agreement. Any claim for indemnity or hold harmless hereunder on behalf of an Indemnified Person must be made and administered by a Party party to this Agreement. Any claim on behalf of an Indemnified Person may only be brought against the defaulting party or parties.

Appears in 1 contract

Samples: Asset Purchase Agreement (Exco Resources Inc)

Agreement for the Parties’ Benefit Only. This Agreement is for the sole benefit of Buyer, Seller and their respective successors and assigns as permitted herein and no other Person shall be entitled to enforce this Agreement, rely on any representation, warranty, covenant or agreement contained herein, receive any rights hereunder or be a third-third party beneficiary of this Agreement. Any Indemnified Person which is a third Person party shall be indemnified and held harmless under the terms of this Agreement only to the extent that a Party party expressly elects to exercise such right of indemnity and hold harmless on behalf of such third Person party Indemnified Person pursuant to Section 13.315.3; and no Party party shall have any direct liability or obligation to any third Person party or be liable to any third Person party for any election or non-election or any act or failure to act under or in regard to any term of this Agreement. Any claim for indemnity or hold harmless hereunder on behalf of an Indemnified Person must be made and administered by a Party party to this Agreement. Any claim on behalf of an Indemnified Person may only be brought against the defaulting party or parties.

Appears in 1 contract

Samples: Stock Purchase Agreement (Tesoro Petroleum Corp /New/)

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Agreement for the Parties’ Benefit Only. This Agreement is for the sole benefit of BuyerMLP, Seller EECI and their respective successors and assigns as permitted herein and no other Person shall be entitled to enforce this Agreement, rely on any representation, warranty, covenant or agreement contained herein, receive any rights hereunder or be a third-third party beneficiary of this Agreement. Any Indemnified Person which is a third Person party shall be indemnified and held harmless under the terms of this Agreement only to the extent that a Party party expressly elects to exercise such right of indemnity and hold harmless on behalf of such third Person party Indemnified Person pursuant to Section 13.315.3; and no Party party shall have any direct liability Liability or obligation to any third Person party or be liable to any third Person party for any election or non-election or any act or failure to act under or in regard to any term of this Agreement. Any claim for indemnity or hold harmless hereunder on behalf of an Indemnified Person must be made and administered by a Party party to this Agreement. Any claim on behalf of an Indemnified Person may only be brought against the defaulting party or parties.

Appears in 1 contract

Samples: Contribution Agreement (Enbridge Inc)

Agreement for the Parties’ Benefit Only. This Agreement is for the sole benefit of Buyer, Seller Sellers and their respective successors and permitted assigns as permitted herein and no other Person shall be entitled to enforce this Agreement, rely on any representation, warranty, covenant or agreement contained herein, receive any rights hereunder or be a third-party beneficiary of this Agreement; provided that the Financing Parties shall be deemed third-party beneficiaries of Section 13.2(a), Section 14.2, Section 14.3, Section 14.7, Section 14.9 and Section 14.12 to the extent such sections relate to the Financing Parties. Any Indemnified Person which is a third Person shall be indemnified and held harmless under the terms of this Agreement only to the extent that a Party expressly elects to exercise such right of indemnity and hold harmless on behalf of such third Person Indemnified Person pursuant to Section 13.312.4; and no Party shall have any direct liability or obligation to any third Person or be liable to any third Person for any election or non-election or any act or failure to act under or in regard to any term of this Agreement. Any claim for indemnity or hold harmless hereunder on behalf of an Indemnified Person must be made and administered by a Party to this Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (PDC Energy, Inc.)

Agreement for the Parties’ Benefit Only. This Agreement is for the sole benefit of BuyerBuyers, Seller and their respective successors and assigns as permitted herein and no other Person shall be entitled to enforce this Agreement, rely on any representation, warranty, covenant or agreement contained herein, receive any rights hereunder or be a third-third party beneficiary of this Agreement. Any Indemnified Person Indemnitee which is a third Person party shall be indemnified and held harmless under the terms of this Agreement only to the extent that a Party expressly elects to exercise such right of indemnity and hold harmless on behalf of such third Person Indemnified Person party Indemnitee pursuant to Section 13.315.3; and no Party shall have any direct liability or obligation to any third Person party or be liable to any third Person party for any election or non-election or any act or failure to act under or in regard to any term of this Agreement. Any claim for indemnity or hold harmless hereunder on behalf of an Indemnified Person Indemnitee must be made and administered by a Party to this Agreement.

Appears in 1 contract

Samples: Refinery Purchase and Sale Agreement (Delek US Holdings, Inc.)

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