Common use of Buyer Agrees to Hold MARAD Harmless Clause in Contracts

Buyer Agrees to Hold MARAD Harmless. The Buyer hereby absolutely, irrevocably and unconditionally guarantees that in the event any claim against MARAD is filed by any governmental unit, national, state or local, or any private party in a qui tam action or otherwise, for any fee, fine, penalty or monetary award, in connection with dismantlement of the Obsolete Vessel, the Buyer shall promptly take any and all actions needed to ameliorate, defend and pay the fee, fine, penalty or monetary award.

Buyer Agrees to Hold MARAD Harmless. ‌ The Buyer hereby absolutely, irrevocably and unconditionally guarantees that in the event any claim against MARAD is filed by any governmental unit, national, state or local, or any private party in a qui tam action or otherwise, for any fee, fine, penalty or monetary award, in connection with dismantlement of the Obsolete Vessel, the Buyer shall promptly take any and all actions needed to ameliorate, defend and pay the fee, fine, penalty or monetary award.