Buyer’s Indemnification. For a period of eighteen (18) months after the Closing Date or earlier termination of this Agreement, Buyer shall indemnify, defend and hold harmless Seller and/or any of Seller’s officers, directors, managers, employees, shareholders, or agents (including, but not limited to, Seller’s financial advisor), from and against any and all incidents, claims, demands, actions, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses, costs of investigation and defense, counsel or attorneys’ fees, whether under retainer or salary or otherwise, including, without limitation, interest, penalties and court costs (collectively, “Damages”), suffered or incurred by Seller and/or any or all of Seller’s officers, directors, managers, employees or agents, which directly or indirectly arise, result from or relate to (a) any breach of, or any failure by Buyer to perform, any of Buyer’s representations, warranties, covenants or agreements contained in this Agreement, (b) matters that occur or arise as a result of Buyer’s action or failure to take action after the Closing Date, except as to such incidents, claims, demands, actions, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses that are caused or claimed to be caused by or are a result of the acts or omissions of Seller or Seller’s respective agents or employees, (c) any and all claims of any kind and description of employees that relate to their, hiring, employment and/or termination by Buyer, provided that the facts or events giving rise to such claims occurred after the Closing Date, (d) any and all debts, obligations and liabilities of Seller specifically assumed by Buyer hereunder and any Damages resulting from the operation of the Business by Buyer after the Closing Date, (e) damage done by Buyer or Buyer’s representatives during the inspection and due diligence of the Business, (f) the Assumed Obligations, and (g) any and all claims made by any broker, finder or agent claiming a fee or commission through Buyer. Notwithstanding any provision of this Section 18.1 to the contrary, the obligations of Buyer to indemnify Seller for any and all debts, obligations and liabilities of Seller arising from or related to any Assumed Obligations, shall extend for the length of the remaining term of such agreements and shall not be limited to claims made prior to the expiration of the eighteen (18) month period following the Closing Date. If and to the extent Seller notifies Buyer in writing of a claim for indemnification for any matter covered by clause (a) above on or prior to the expiration of the eighteen (18) month period after the Closing Date, Buyer shall continue to be obligated to provide indemnification hereunder with respect to such claim until such time that such claim is resolved and satisfied.
Appears in 3 contracts
Samples: Asset Purchase and Sale Agreement (Herbst Gaming Inc), Asset Purchase and Sale Agreement (Herbst Gaming Inc), Asset Purchase and Sale Agreement (Herbst Gaming Inc)
Buyer’s Indemnification. For a period of eighteen (18a) months after Provided that the Closing Date or earlier termination of this Agreementoccurs, Buyer shall indemnifyrelease, defend defend, indemnify and hold harmless Seller and/or any of Seller’s , its partners, and their respective officers, directors, managersemployees, employeesagents, partners, representatives, members, shareholders, or agents affiliates, subsidiaries, successors and assigns (includingcollectively, but not limited to, Seller’s financial advisor), the "Seller Indemnitees") from and against any and all incidents, claims, demandsdamages, actionsliabilities, losses, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses, costs of investigation and defense, counsel or attorneys’ fees, whether under retainer or salary or otherwise, expenses (including, without limitation, interest, penalties those involving theories of negligence or strict liability and including court costs and attorneys' fees) (collectively, “Damages”)the "Losses") as a result of, suffered or incurred by Seller and/or any or all of Seller’s officers, directors, managers, employees or agents, which directly or indirectly arise, result from or relate to (a) any breach arising out of, or any failure by Buyer related to performthe Assumed Obligations, any of Buyer’s representationsREGARDLESS OF WHETHER CAUSED OR CONTRIBUTED TO BY THE SOLE, warrantiesJOINT, covenants or agreements contained in this Agreement, COMPARATIVE OR CONCURRENT NEGLIGENCE OR STRICT LIABILITY OF ANY OF THE SELLER INDEMNITEES.
(b) matters that occur or arise as a result of Buyer’s action or failure to take action after Without limiting the Closing Date, except as to such incidents, claims, demands, actions, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses that are caused or claimed to be caused by or are a result of the acts or omissions of Seller or Seller’s respective agents or employees, (c) any and all claims of any kind and description of employees that relate to their, hiring, employment and/or termination by Buyerforegoing, provided that the facts or events giving rise to such claims occurred after the Closing Dateoccurs, (d) Buyer shall release, defend, indemnify and hold harmless Seller Indemnitees from and against any and all debtsLosses which Seller Indemnitees may sustain or incur by reason of or in connection with environmental claims (excluding Offsite Disposal Claims which constitute Retained Obligations, obligations and liabilities of Seller specifically assumed by Buyer hereunder and any Damages resulting subject to other limitations set forth in this Article XIV) relating to or arising from the operation of the Business by Buyer after the Closing DateAssets REGARDLESS OF WHETHER CAUSED OR CONTRIBUTED TO BY THE SOLE, (e) damage done by Buyer or Buyer’s representatives during the inspection and due diligence of the BusinessJOINT, (f) the Assumed Obligations, and (g) any and all claims made by any broker, finder or agent claiming a fee or commission through BuyerCOMPARATIVE OR CONCURRENT NEGLIGENCE OR STRICT LIABILITY OF ANY OF THE SELLER INDEMNITEES. Notwithstanding any provision of this Section 18.1 to the contrary, the obligations of Buyer to indemnify Seller for any and all debts, obligations and liabilities of Seller arising from or related to any Assumed Obligations, shall extend for the length of the remaining term of such agreements and shall not be limited to claims made prior to the expiration of the eighteen (18) month period following the Closing Date. If and to the extent Seller notifies Buyer in writing of a claim for indemnification for any matter covered by clause (a) above on or prior to the expiration of the eighteen (18) month period after the Closing Date, Buyer shall continue to be obligated to provide indemnification hereunder with respect to such claim until such time that such claim is resolved and satisfiedBUYER HEREBY EXPRESSLY WAIVES BUYER'S RIGHT TO CONTRIBUTION UNDER CERCLA.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Legacy Reserves L P), Purchase and Sale Agreement (Legacy Reserves L P)
Buyer’s Indemnification. For a period of eighteen (18) months after the Closing Date or earlier termination of this Agreement, Buyer shall indemnify, defend defend, and hold harmless Seller and/or any of Seller’s and its officers, directors, managers, employees, shareholdersagents, successors and assigns from and against any and all losses, claims, actions, costs, liabilities, expenses, fines, damages, and other relief or agents penalties it or they may suffer (including, but not limited to, Seller’s financial advisor)reasonable attorneys' fees and expenses) arising out of, from and against any and all incidentsrelating to, claims, demands, actions, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses, costs of investigation and defense, counsel or attorneys’ fees, whether under retainer or salary or otherwise, including, without limitation, interest, penalties and court costs (collectively, “Damages”), suffered or incurred by Seller and/or any or all of Seller’s officers, directors, managers, employees or agents, which directly or indirectly arise, result from or relate to resulting from:
(a) any material breach ofor default in the performance by Buyer of any covenant or agreement of Buyer contained in this Agreement or any Exhibit hereto;
(b) any act or omission of Buyer or its employees or agents that constitutes gross negligence, willful misconduct, or actual fraud;
(c) illness, injury or death to any person relating to or arising out of Buyer's performance of this Agreement;
(d) damage to any real or tangible personal property relating to or arising out of Buyer's performance of this Agreement;
(e) the provision, sale, use or other exploitation of the Products or any part thereof, or any failure by Buyer to performproducts that incorporate the Products, which infringes or violates any of Buyer’s representationspatent, warrantiescopyright, covenants trademark, tradename, trade secret or agreements contained in this Agreement, (b) matters that occur or arise as a result of Buyer’s action or failure to take action after the Closing Date, except as to such incidents, claims, demands, actions, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses that are caused or claimed to be caused by or are a result of the acts or omissions of Seller or Seller’s respective agents or employees, (c) any and all claims other proprietary right of any kind and description of employees that relate to their, hiring, employment and/or termination by Buyer, provided that the facts or events giving rise to such claims occurred after the Closing Date, (d) any and all debts, obligations and liabilities of Seller specifically assumed by Buyer hereunder and any Damages resulting from the operation of the Business by Buyer after the Closing Date, (e) damage done by Buyer or Buyer’s representatives during the inspection and due diligence of the Business, third party;
(f) the Assumed Obligationstesting, and possession, provision, sale, use, operation or other exploitation of a Product or the testing, possession, provision, sale, use, operation or other exploitation of any of Buyer's products using or containing a Product or any other claims whatsoever by whomsoever relating to or arising out of the Product or Buyer's products that incorporate any aspect of the Services provided or Products sold hereunder; and
(g) any and all claims made by actions, suits, proceedings, claims, demands, judgments, costs and expenses (including reasonable legal and accounting fees) incident to any brokerof the foregoing, finder or agent claiming a fee or commission through provided that, Buyer. Notwithstanding any provision of this Section 18.1 to the contrary, the obligations of Buyer 's obligation to indemnify Seller for hereunder shall apply only if: [***] Confidential information has been omitted and filed separately with the Securities and Exchange Commission pursuant to a confidential treatment request. EXHIBIT 10.22 CONFIDENTIAL TREATMENT REQUESTED PURSUANT TO RULE 24B-2 CERTAIN PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT UNDER RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934. THE OMITTED MATERIALS HAVE BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
(a) Seller gives Buyer prompt notice after learning of any such claims or actions,
(b) Buyer shall have exclusive control over the defense and all debtssettlement of any such claim or actions,
(c) Seller shall not settle or compromise any such claims or actions without Buyer's prior written approval, obligations and
(d) Seller shall cooperate with Buyer in a defense and liabilities settlement of Seller arising from or related to any Assumed Obligationsclaim, shall extend for the length of the remaining term of such agreements and at Buyer's expense, provided that Buyer shall not be limited liable hereunder for any settlement or compromise negotiated by Seller unless Buyer agrees in writing to claims made prior to the expiration of the eighteen (18) month period following the Closing Datebe so bound. If and to the extent Seller notifies Buyer in writing provides notice of a claim for indemnification for any matter covered by clause in accordance with (a) above on and is not notified within ten (10) days thereafter that Buyer intends to defend the claim, Seller shall be entitled to defend such claim, and settle or prior compromise such claim, subject to the expiration of indemnification provided for herein. The foregoing indemnity shall not apply to the eighteen (18) month period after the Closing Date, Buyer shall continue to be obligated to provide indemnification hereunder with respect to such claim until such time extent that such claim is resolved and satisfiedclaims or actions for damages or other relief arise from or are related to the gross negligence, willful misconduct, breach of any terms or provisions of this Agreement by, or other unlawful conduct of, Seller or any of Seller's employees or agents.
Appears in 2 contracts
Samples: Production Services Agreement (HeartWare LTD), Production Services Agreement (HeartWare LTD)
Buyer’s Indemnification. For Subject to the provisions of Section 17, for a period of eighteen (18) months after the Closing Date or earlier termination of this AgreementDate, Buyer shall indemnify, defend and hold harmless Seller and/or any of Seller’s 's officers, directors, managers, employees, shareholders, employees or agents (including, but not limited to, Seller’s 's financial advisor, Xxxxxxxxxxx Xxxxxxx & Co., Inc.), from and against any and all incidents, claims, demands, actions, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses, costs of investigation and defense, counsel or attorneys’ ' fees, whether under retainer or salary or otherwise, including, without limitation, interest, penalties and court costs (collectively, “"Damages”"), suffered or incurred by Seller and/or any or all of Seller’s 's officers, directors, managers, employees or agents, which directly or indirectly arise, result from or relate to (a) any breach of, or any failure by Buyer to perform, any of Buyer’s 's representations, warranties, covenants or agreements contained in this Agreement, (b) matters that occur or arise as a result of Buyer’s 's action or failure to take action after the Closing Date, except as to such incidents, claims, demands, actions, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses that are caused or claimed to be caused by or are a result of the acts or omissions of Seller or Seller’s 's respective agents or employees, (c) any and all claims of any kind and description of employees that relate to their, hiring, employment and/or termination by Buyer, provided that the facts or events giving rise to such claims occurred after the Closing Date, (d) any and all debts, obligations and liabilities of Seller specifically assumed by Buyer hereunder and any Damages resulting from the operation of the Business by Buyer after the Closing Date, (e) damage done actions or failure to act by Buyer or Buyer’s 's representatives during the inspection and due diligence of the Business, (f) all obligations and liabilities arising after the Assumed ObligationsClosing Date related to the contracts, leases and agreements assumed by the Buyer, and (g) any and all claims made by any broker, finder or agent claiming a fee or commission through Buyer. Notwithstanding any provision of this Section 18.1 to the contrary, the obligations of Buyer to indemnify the Seller for any and all debts, obligations and liabilities of Seller arising from or related to any Assumed Obligationsthe assumption of the DRA Operating Agreement, the City Leases or the CDS Agreement, which obligations, solely to the extent arising on or after the Closing Date, were specifically assumed by Buyer hereunder, shall extend for the length of the remaining term of such agreements and shall not be limited to claims made prior to the expiration of the eighteen eighteenth (1818th) month period following the Closing Date. If and to the extent Seller notifies Buyer in writing of a claim for indemnification for any matter covered by clause (a) above on or prior to the expiration of the eighteen eighteenth (1818th) month period after the Closing Date, Buyer shall continue to be obligated to provide indemnification hereunder with respect to such claim until such time that such claim is resolved and satisfied.
Appears in 1 contract
Samples: Asset Purchase and Sale Agreement (Peninsula Gaming Corp)
Buyer’s Indemnification. For a period of eighteen (18) months after the Closing Date or earlier termination of this Agreement, The Buyer shall indemnify, defend indemnify and hold harmless Seller and/or any of Seller’s the Company and .the Secured Party, its members, officers, directors, managersagents, employees, shareholdersattorneys; accountants, or agents assigns and consultants (including, but not limited to, Seller’s financial advisor), collectively "Indemnified Persons") from and against any losses, damages, expenses and all incidents, claims, demands, liabilities or actions, causes investigations, inquiries, arbitrations, claims or other proceedings in respect thereof, at all times after the date of actionthis agreement, suits, obligations, liabilities, losses, costs, damages or expenses, costs against and in respect of
a. All liabilities of investigation and defense, counsel or attorneys’ feesthe Buyer of any nature, whether under retainer or salary accrued, absolute, contingent, or otherwise, existing at the date of closing, to the extent not reflected or reserved against in full in the Buyer's Balance Sheet, including, without limitation, interestany. tax liabilities to the extent not so reflected or reserved against, penalties and court costs (collectivelyaccrued in respect of or measured by the Buyer's income for any period prior to the date of closing hereof, “Damages”), suffered or incurred by Seller and/or any or all arising out of Seller’s officers, directors, managers, employees or agents, which directly or indirectly arise, result from or relate to (a) any breach oftransactions entered into, or any failure by Buyer to performstate of facts existing, any of Buyer’s representations, warranties, covenants or agreements contained in this Agreement, (b) matters that occur or arise as a result of Buyer’s action or failure to take action after the Closing Date, except as prior to such incidentsdate;
b. Any damage or deficiency resulting from any misrepresentation, claimsbreach of warranty, or nonfulfillment of any agreement on the part of the Buyer under this agreement, or from any misrepresentation in or omission from any certificate or other instrument furnished or to be furnished to the Secured Party and /or Company hereunder; and
c. All actions, suits, proceedings, demands, actionsassessments, causes of action, suits, obligations, liabilities, lossesjudgments, costs, damages or attorney's fees, and expenses that are caused or claimed incident to be caused by or are a result any of the acts foregoing. The Buyer shall reimburse the Company or omissions the Secured Party, on demand, for any payment made by the. Company or Secured Party at any time after the date of Seller or Seller’s respective agents or employeesclosing hereof, (c) any and all claims in respect of any kind and description of employees that relate liability or claim to their, hiring, employment and/or termination by Buyer, provided that which the facts or events giving rise to such claims occurred after the Closing Date, (d) any and all debts, obligations and liabilities of Seller specifically assumed by Buyer hereunder and any Damages resulting from the operation of the Business by Buyer after the Closing Date, (e) damage done by Buyer or Buyer’s representatives during the inspection and due diligence of the Business, (f) the Assumed Obligations, and (g) any and all claims made by any broker, finder or agent claiming a fee or commission through Buyer. Notwithstanding any provision of this Section 18.1 to the contrary, the obligations of Buyer to indemnify Seller for any and all debts, obligations and liabilities of Seller arising from or related to any Assumed Obligations, shall extend for the length of the remaining term of such agreements and shall not be limited to claims made prior to the expiration of the eighteen (18) month period following the Closing Date. If and to the extent Seller notifies Buyer in writing of a claim for indemnification for any matter covered by clause (a) above on or prior to the expiration of the eighteen (18) month period after the Closing Date, Buyer shall continue to be obligated to provide indemnification hereunder with respect to such claim until such time that such claim is resolved and satisfiedforegoing indemnity relates.
Appears in 1 contract
Samples: Common Stock Purchase Agreement (Evans Systems Inc)
Buyer’s Indemnification. For a period Buyer agrees to indemnify and hold each Seller and each Seller’s respective nominees, successors, heirs, assigns, trustees, agents, employees and beneficiaries harmless from any and all third-party liabilities, claims, causes of eighteen action, penalties, demands, and expenses of any kind or nature whatsoever (18including without limitation court costs and attorneys’ fees) months after the Closing Date arising out of, resulting from, relating or earlier termination of incident to (i) any material representation or warranty made by Buyer in this Agreement, Buyer shall indemnify, defend and hold harmless Seller and/or any of Seller’s officers, directors, managers, employees, shareholdersthat is, or agents was at the time made, materially false or inaccurate, or any breach of, or misrepresentation with respect to, any such representation or warranty; (ii) any breach by Buyer of any material covenant, agreement or obligation of the Buyer contained in this Agreement, (iii) the use, ownership or operation of Prism, Provident and the Unit; (iv) the business of either Company, (v) the development, maintenance or operation of the Unit during Buyer’s ownership thereof, and (vi) the Companies’ lawsuit with the Xxxxxxxxxx Group, including, but not limited to, Seller’s financial advisor)any past, from present or future cost, expense or damages related to such dispute and against the Listing Broker Services Agreement that is a part thereof and claims arising therefrom. Buyer shall have no liability for indemnification with respect to any and all incidentsrepresentation or warranty unless, claims, demands, actions, causes on or before the date eighteen (18) months following of action, suits, obligations, liabilities, losses, costs, damages or expenses, costs of investigation and defense, counsel or attorneys’ fees, whether under retainer or salary or otherwise, including, without limitation, interest, penalties and court costs (collectively, “Damages”), suffered or incurred by Seller and/or any or all of Seller’s officers, directors, managers, employees or agents, which directly or indirectly arise, result from or relate to (a) any breach of, or any failure by Buyer to perform, any of Buyer’s representations, warranties, covenants or agreements contained in this Agreement, (b) matters that occur or arise as a result of Buyer’s action or failure to take action after the Closing Date, except as to such incidents, claims, demands, actions, causes Sellers notify Buyer of action, suits, obligations, liabilities, losses, costs, damages or expenses that are caused or claimed to be caused by or are a result of claim specifying the acts or omissions of Seller or Seller’s respective agents or employees, (c) any and all claims of any kind and description of employees that relate to their, hiring, employment and/or termination by Buyer, provided that the facts or events giving rise to such claims occurred after the Closing Date, (d) any and all debts, obligations and liabilities of Seller specifically assumed by Buyer hereunder and any Damages resulting from the operation of the Business by Buyer after the Closing Date, (e) damage done by Buyer or Buyer’s representatives during the inspection and due diligence of the Business, (f) the Assumed Obligations, and (g) any and all claims made by any broker, finder or agent claiming a fee or commission through Buyer. Notwithstanding any provision of this Section 18.1 to the contrary, the obligations of Buyer to indemnify Seller for any and all debts, obligations and liabilities of Seller arising from or related to any Assumed Obligations, shall extend for the length of the remaining term of such agreements and shall not be limited to claims made prior to the expiration of the eighteen (18) month period following the Closing Date. If and basis thereof in reasonable detail to the extent Seller notifies Buyer in writing of a claim for indemnification for any matter covered then known by clause (a) above on or prior to the expiration of the eighteen (18) month period after the Closing Date, Buyer shall continue to be obligated to provide indemnification hereunder with respect to such claim until such time that such claim is resolved and satisfiedSellers.
Appears in 1 contract
Buyer’s Indemnification. For a period of eighteen (18) months after the Closing Date or earlier termination of this Agreement, Buyer shall indemnify, defend defend, and hold harmless Seller and/or any of Seller’s and its officers, directors, managers, employees, shareholdersagents, successors and assigns from and against any and all losses, claims, actions, costs, liabilities, expenses, fines, damages, and other relief or agents penalties it or they may suffer (including, but not limited to, Seller’s financial advisor)reasonable attorneys' fees and expenses) arising out of, from and against any and all incidentsrelating to, claimsor resulting from, demands, actions, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses, costs of investigation and defense, counsel or attorneys’ fees, whether under retainer or salary or otherwise, including, without limitation, interest, penalties and court costs (collectively, “Damages”), suffered or incurred by Seller and/or any or all of Seller’s officers, directors, managers, employees or agents, which directly or indirectly arise, result from or relate to indirectly,
(a) any breach ofor default in the performance by Buyer of any covenant or agreement of Buyer contained in this Agreement or any Exhibit hereto,
(b) any act or omission of Buyer or its employees or agents that constitutes gross negligence, willful misconduct or actual fraud,
(c) illness, injury or death to any person relating to or arising out of Buyer's performance of this Agreement,
(d) damage to any real or tangible personal property relating to or arising out of Buyer's performance of this Agreement,
(e) the provision, sale, use or other exploitation of the Products or any part thereof, or any failure by Buyer to performproducts that incorporate the Products, which infringes or violates any of Buyer’s representationspatent, warrantiescopyright, covenants trademark, tradename, trade secret or agreements contained in this Agreement, (b) matters that occur or arise as a result of Buyer’s action or failure to take action after the Closing Date, except as to such incidents, claims, demands, actions, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses that are caused or claimed to be caused by or are a result of the acts or omissions of Seller or Seller’s respective agents or employees, (c) any and all claims other proprietary right of any kind and description of employees that relate to their, hiring, employment and/or termination by Buyer, provided that the facts or events giving rise to such claims occurred after the Closing Date, (d) any and all debts, obligations and liabilities of Seller specifically assumed by Buyer hereunder and any Damages resulting from the operation of the Business by Buyer after the Closing Date, (e) damage done by Buyer or Buyer’s representatives during the inspection and due diligence of the Business, third party,
(f) the Assumed Obligationstesting, and possession, provision, sale, use, operation or other exploitation of a Product or the testing, possession, provision, sale, use, operation or other exploitation of any of Buyer's products using or containing a Product or any other claims whatsoever by whomsoever relating to or arising out of the Product or Buyer's products that incorporate any aspect of the Services provided or Products sold hereunder, and
(g) any and all claims made by actions, suits, proceedings, claims, demands, judgments, costs and expenses (including reasonable legal and accounting fees) incident to any brokerof the foregoing, finder or agent claiming a fee or commission through provided that, Buyer. Notwithstanding any provision of this Section 18.1 to the contrary, the obligations of Buyer 's obligation to indemnify Seller for hereunder shall apply only if:
(a) Seller gives Buyer prompt notice after learning of any such claims or actions,
(b) Buyer shall have exclusive control over the defense and all debtssettlement of any such claim or actions,
(c) Seller shall not settle or compromise any such claims or actions without Buyer's prior written approval, obligations and
(d) Seller shall cooperate with Buyer in a defense and liabilities settlement of Seller arising from or related to any Assumed Obligationsclaim, shall extend for the length of the remaining term of such agreements and at Buyer's expense, provided that Buyer shall not be limited liable hereunder for any settlement or compromise negotiated by Seller unless Buyer agrees in writing to claims made prior to the expiration of the eighteen (18) month period following the Closing Datebe so bound. If and to the extent Seller notifies Buyer in writing provides notice of a claim for indemnification for any matter covered by clause in accordance with (a) above on and is not notified within ten (10) days thereafter that Buyer intends to defend the claim, Seller shall be entitled to defend such claim, and settle or prior compromise such claim, subject to the expiration of indemnification provided for herein. The foregoing indemnity shall not apply to the eighteen (18) month period after the Closing Date, Buyer shall continue to be obligated to provide indemnification hereunder with respect to such claim until such time extent that such claim is resolved and satisfiedclaims or actions for damages or other relief arise from the gross negligent acts or omissions, willful misconduct, breach of any terms or provisions of this Agreement by, or other unlawful conduct of, Seller or any of Seller's employees or agents.
Appears in 1 contract
Samples: Development and Production Agreement (Possis Medical Inc)
Buyer’s Indemnification. For a period of eighteen (18) months after the Closing Date or earlier termination Subject to all terms and ------------------------ conditions of this AgreementSection, Buyer shall hereby agree to indemnify, defend defend, and hold harmless Seller and/or any of Seller’s officers, directors, managers, employees, shareholders, or agents (including, but not limited to, Seller’s financial advisor), from and against any and all incidentsdemands, claims, demands, actions, actions or causes of action, suitsassessments, obligationslosses, damages, liabilities, losses, costs, damages or costs and expenses, costs of investigation and defense, counsel or attorneys’ fees, whether under retainer or salary or otherwise, including, without limitation, interest, penalties penalties, attorneys' fees and court costs expenses (collectively, “"Damages”"), suffered asserted against, resulting to, imposed upon or incurred by Seller and/or any by reason of or all of Seller’s officers, directors, managers, employees resulting from (i) liabilities or agents, which directly or indirectly arise, result from or relate to (a) any breach obligations of, or any failure claims against, Buyer, the Business, or Assets (whether absolute, accrued, contingent or otherwise), existing as of or after the Closing Date or arising out of facts or circumstances existing at or prior thereto (including those specific liabilities and obligations expressly assumed by Buyer to performas set forth in Exhibit 1.3) whether or not such liabilities or obligations were known ----------- at the time of the Closing; (ii) a breach of any representation, any warranty, or agreement of Buyer’s representations, warranties, covenants or agreements Buyer contained in or made pursuant to this Agreement or any facts or circumstances constituting such a breach; or (iii) any tax or related claim asserted against Seller with respect to any taxes relating to the operations or properties of Buyer on or after the Closing Date (collectively, "Claims"). Such right of indemnification shall include the right of Seller to rescind the purchase of the Assets and recover the balance due pursuant to this Agreement, (b) matters that occur or arise as a result and the Employment Agreement of Buyer’s action or failure to take action after the Closing DateDxxxxx Xxxxxxx Xxxxxxxx, except as to such incidents, claims, demands, actions, causes of action, suits, obligations, liabilities, losses, together with all costs, damages or expenses that are caused or claimed to be caused by or are a result expenses, and attorney and accounting fees incurred in connection with the examination of Buyer and the Assets and the negotiation and consummation of the acts or omissions of transaction contemplated by this Agreement. Buyer agrees to indemnify and hold harmless Seller or Seller’s respective agents or employees, (c) from and against any and all claims of other amounts, damages, or losses paid or suffered by Seller from any kind such occurrence, including reasonable attorneys' fees and description of employees that relate to their, hiring, employment and/or termination by Buyer, provided that the facts or events giving rise to such claims occurred after the Closing Date, (d) any and all debts, obligations and liabilities of Seller specifically assumed by Buyer hereunder and any Damages resulting from the operation of the Business by Buyer after the Closing Date, (e) damage done by Buyer or Buyer’s representatives during the inspection and due diligence of the Business, (f) the Assumed Obligations, and (g) any and all claims made by any broker, finder or agent claiming a fee or commission through Buyer. Notwithstanding any provision of this Section 18.1 to the contrary, the obligations of Buyer to indemnify Seller for any and all debts, obligations and liabilities of Seller arising from or related to any Assumed Obligations, shall extend for the length of the remaining term of such agreements and shall not be limited to claims made prior to the expiration of the eighteen (18) month period following the Closing Date. If and to the extent Seller notifies Buyer in writing of a claim for indemnification for any matter covered by clause (a) above on or prior to the expiration of the eighteen (18) month period after the Closing Date, Buyer shall continue to be obligated to provide indemnification hereunder with respect to such claim until such time that such claim is resolved and satisfiedexpenses.
Appears in 1 contract
Buyer’s Indemnification. For a period of eighteen (18) months after the Closing Date or earlier termination of this Agreement, Buyer shall indemnify, defend agrees to indemnify and hold harmless Seller and/or any of and Seller’s officers, directors, managers, employees, shareholders, or agents (including, but not limited to, Seller’s financial advisor)'s Related Parties for, from and against all Claims attributable, directly or indirectly, to any of the following, unless arising from the breach by Seller of any of its obligations, representations, or warranties in this Agreement and the agreements and other documents executed and delivered by Seller as contemplated by this Agreement:
(i) Except as limited by Section 11.1, breach by Buyer of any obligation of Buyer under this Agreement or under any other agreement or instrument entered into by Buyer pursuant to this Agreement or in connection with the transactions contemplated by this Agreement;
(ii) The material inaccuracy of any express, written representation or warranty made by Buyer in this Agreement or in any other agreement or instrument entered into by Buyer pursuant to this Agreement;
(iii) Any breach by Buyer of any of the obligations of Seller that have been assumed by Buyer under or with respect to the Receivables, the Receivables Security Documents, the Jamul Lease, the Seller Leases, the Contracts, or the Pending Sales, or any liabilities or obligations connected therewith and first occurring or accruing from and after the Closing or any other state of facts relating thereto and first accruing or occurring from and after the Closing;
(iv) Any state of facts relating to the Associations and first accruing or occurring from and after the Closing;
(v) Real or personal property taxes assessed on any item of the Property and that relate to periods from and after the Closing;
(vi) The Post-Closing Obligations;
(vii) The Bonds and the NPDES Permit;
(viii) The Approvals and all incidents, claims, demands, actions, causes of action, suits, obligations, liabilitiesundertakings, lossesrequirements, costsand stipulations relating thereto;
(ix) Any liability or obligation arising from or out of the ownership or operation of, damages or expensesotherwise relating to, costs the Property, or any portion or aspect thereof, after the Closing, except to the extent that pursuant to this Agreement or any other agreement entered into pursuant hereto, Seller is liable to Buyer with respect thereto or except to the extent any such liability or obligation arises from an act or omission of investigation Seller or any state of facts existing prior to the Closing;
(x) Any other matter with respect to which Buyer has agreed to indemnify Seller under this Agreement or any agreement or instrument entered into by Buyer pursuant to this Agreement; and
(xi) Any and defenseall other obligations and liabilities which Buyer, counsel pursuant to this Agreement or attorneys’ feesany other agreement entered into pursuant hereto, whether under retainer or salary or otherwise, includinghas expressly agreed to assume. Notwithstanding the foregoing, without limitation, interest, penalties and court costs (collectively, “Damages”), suffered or incurred by Buyer shall not be liable to Seller and/or any or all with respect to a single Claim otherwise within the coverage of Seller’s officers, directors, managers, employees or agents, which directly or indirectly arise, result from or relate to (a) any breach of, the indemnity provisions of this Section 8.8 or any failure by Buyer to perform, any of Buyer’s representations, warranties, covenants or agreements contained in this Agreement, (b) matters that occur or arise as a result of Buyer’s action or failure to take action after the Closing Date, except as to such incidents, claims, demands, actions, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses that are caused or claimed to be caused by or are a result of the acts or omissions of Seller or Seller’s respective agents or employees, (c) any and all claims of any kind and description of employees that relate to their, hiring, employment and/or termination by Buyer, provided that the facts or events giving rise to such claims occurred after the Closing Date, (d) any and all debts, obligations and liabilities of Seller specifically assumed by Buyer hereunder and any Damages resulting from the operation of the Business by Buyer after the Closing Date, (e) damage done by Buyer or Buyer’s representatives during the inspection and due diligence of the Business, (f) the Assumed Obligations, and (g) any and all claims made by any broker, finder or agent claiming a fee or commission through Buyer. Notwithstanding any other indemnity provision of this Section 18.1 to Agreement that does not exceed $50,000; provided, however, that when the contrary, the obligations of Buyer to indemnify Seller for any and all debts, obligations and liabilities of Seller arising from or related to any Assumed Obligations, shall extend for the length of the remaining term aggregate amount of such agreements and shall not be limited to claims made prior to the expiration of the eighteen (18) month period following the Closing Date. If and to the extent Seller notifies Buyer in writing of a claim for indemnification for any matter covered by clause (a) above on or prior to the expiration of the eighteen (18) month period after the Closing Dateexcluded Claims reaches $250,000, Buyer shall continue to thereafter be obligated to provide indemnification hereunder with respect to liable in full for all such claim until such time that such claim is resolved and satisfiedClaims.
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Buyer’s Indemnification. For a period of eighteen (18) months after Subject to the Closing Date or earlier termination further provisions of this AgreementArticle VIII, Buyer shall indemnify, defend and hold harmless Seller and/or (and the Company with respect to any of Seller’s officers, Loss pursuant to Section 8.3(a) or (b) prior to the Closing) and their Affiliates and their respective directors, managersofficers, employees, shareholdersAffiliates, or agents advisors, representatives, agents, successors and assigns (includingcollectively, but not limited to, Seller’s financial advisor), from "Seller Indemnified Parties") against and against in respect of any and all incidentsLosses that any such parties shall incur or suffer, claimsto the extent arising or resulting from, demandsor relating to, actions, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses, costs of investigation and defense, counsel or attorneys’ fees, whether under retainer or salary or otherwise, including, without limitation, interest, penalties and court costs (collectively, “Damages”), suffered or incurred by Seller and/or any or all of Seller’s officers, directors, managers, employees or agents, which directly or indirectly arise, result from or relate to in any way whatsoever any of the following: (a) any inaccuracy or breach of, of any representation or warranty made by Buyer or any failure by Buyer to perform, of its Affiliates herein or in any of Buyer’s representations, warranties, covenants or agreements contained in this AgreementAncillary Document, (b) matters that occur the failure of Buyer or arise any of its Affiliates to comply with or the breach by Buyer or any of its Affiliates of any their respective covenants or other obligations set forth in this Agreement or any Ancillary Document, (c) after the Closing, the failure of the Company to comply with or the Company's breach of any covenants in this Agreement or any Ancillary Document to be performed after the Closing, (d) Liabilities under the executory portion of any Included Contracts so long as a result such Liabilities do not relate to the breach of Buyer’s action any Included Contract prior to Closing, (e) Liabilities to the extent relating to the operation of the Business on or failure to take action after the Closing Date, except as to such incidents(f) any acts or omissions of Buyer, claimsthe Company or their respective Affiliates, demandsagents or representatives on or after the Closing, actions, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses that are caused or claimed to be caused by or are a result (g) the consummation of the transactions contemplated hereby or by the Ancillary Documents to the extent resulting from an act or omission of Buyer or any of its Affiliates, (h) Liabilities to the extent relating to the ownership and use of the Company Assets or other properties of the Company or its Affiliates on or after the Closing Date, (i) Attributed Product produced, packaged, stored or shipped for the Company in accordance with Article X arising out of or resulting from a breach of the warranty set forth in Section 10.6, (j) Bailed Product or Attributed Product while in the possession, or under the control of, Buyer pursuant to Article X, (k) warranty or similar Claims asserted by any customer of the Business to the extent related to the sale of any Branded Product for which Buyer (or any of its Affiliates) is entitled to the consideration (regardless of form) generated by such sale, (l) the manufacture, packaging, sale, marketing or distribution of the Licensed Products by Licensee and its third-party manufacturers and the officers, directors, employees, and agents of each of the foregoing, or which may be occasioned by Licensee's breach of the warranties, representations, or covenants contained in the Champion License, (m) the use of the CAMS Software by Licensee and its third-party manufacturers and the officers, directors, employees, and agents of each of the foregoing, or which may be occasioned by Licensee's breach of the warranties, representations, or covenants contained in the CAMS License, and (n) any Claim relating to the foregoing; provided, however, that no indemnification shall be provided with respect to the portion of such Losses that any of such Seller Indemnified Parties shall incur or suffer to the extent arising or resulting from (1) a determination that Licensee's use of the Licensed Marks in accordance with the terms of the Champion License infringes prior trademark rights of a third party, (2) any manufacturing, packaging or other error or defect in connection with any Licensed Product that is supplied to Licensee by Seller, or (3) use by Licensee of the CAMS Software in accordance with the terms and provisions of the CAMS License; provided, further, that no indemnification shall be provided with respect to the portion of such Losses that any of such Seller Indemnified Parties shall incur or suffer to the extent arising or resulting from (1) the operation of the Business, or any other acts or omissions of Seller or Seller’s respective agents the Company or employeesits predecessors, in each case before the Closing, (c2) any the ownership and all claims use of the Company Assets or other properties before the Closing, (3) the consummation of the transactions contemplated hereby or by the Ancillary Documents to the extent resulting from an act or omission of Seller or the Company, or (4) the failure of any kind and description Seller Indemnified Party to perform any of employees that relate to their, hiring, employment and/or termination by Buyer, provided that its obligations under this Agreement or the facts or events giving rise to such claims occurred after the Closing Date, (d) any and all debts, obligations and liabilities of Seller specifically assumed by Buyer hereunder and any Damages resulting from the operation of the Business by Buyer after the Closing Date, (e) damage done by Buyer or Buyer’s representatives during the inspection and due diligence of the Business, (f) the Assumed Obligations, and (g) any and all claims made by any broker, finder or agent claiming a fee or commission through BuyerAncillary Documents. Notwithstanding any provision of this anything contained in Section 18.1 8.2 or 8.3 to the contrary, the obligations of parties agree that (A) Seller shall indemnify the Buyer to indemnify Seller Indemnified Parties for any and all debts, obligations and liabilities of Seller arising from or related to any Assumed Obligations, shall extend for the length of the remaining term of such agreements and shall not be limited to claims made prior to the expiration of the eighteen (18) month period following the Closing Date. If and Losses to the extent arising or resulting from (I) the operation of the Business, or any other acts or omissions of Seller notifies or the Company or its predecessors, in each case before the Closing, (II) the ownership and use of the Company Assets or other properties before the Closing, (III) the consummation of the transactions contemplated hereby or by the Ancillary Documents to the extent resulting from an act or omission of Seller or the Company, or (IV) the failure of any Seller Indemnified Party to perform any of its obligations under this Agreement or the Ancillary Documents, (B) Buyer shall indemnify the Seller Indemnified Parties to the extent arising or resulting from (I) the operation of the Business, or any other acts or omission of the Company or its successors, in writing each case after the Closing, (II) the ownership and use of a claim for indemnification for the Company Assets or other properties owned by Buyer or any matter covered of its Affiliates after the Closing, (III) the consummation of the transactions contemplated hereby or by clause the Ancillary Documents to the extent resulting from an act or omission of Buyer or any of its Affiliates, or (aIV) the failure of any Buyer Indemnified Party to perform any of its obligations under this Agreement or the Ancillary Documents, and (c) in the event that any Losses arise or result from acts or omissions which relate partially to the matters referred to in Section (A) above on or prior and partially to the expiration matters referred to in (B) above, each of Buyer and Seller shall indemnify the eighteen Seller Indemnified Parties and the Buyer Indemnified Parties, respectively, for the respective portion of such Losses in accordance with the principles set forth in (18A) month period after the Closing Date, Buyer shall continue to be obligated to provide indemnification hereunder with respect to such claim until such time that such claim is resolved and satisfied(B) above.
Appears in 1 contract
Buyer’s Indemnification. For a Subject to the provisions of Section 14, for the period of eighteen (18) months after following the Closing Date or earlier termination of this AgreementDate, Buyer shall indemnify, defend and hold harmless Seller and/or any or all of Seller’s 's officers, directors, managers, employees, shareholders, employees or agents (including, but not limited to, Seller’s financial advisor), from and against any and all incidents, claims, demands, actions, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses, costs of investigation investigation, and defense, counsel or attorneys’ ' fees, whether under retainer or salary or otherwise, including, without limitation, interest, penalties and court costs (collectively, “"Damages”"), suffered or incurred by Seller and/or any or all of Seller’s 's officers, directors, managers, employees or agents, which directly or indirectly arise, result from or relate to (a) any breach of, or any failure by Buyer to perform, any of Buyer’s 's representations, warranties, covenants or agreements contained in this Agreement, ; (b) matters that occur or arise as a result of Buyer’s 's action or failure to take action after the Closing DateClosing, except as to such incidents, claims, demands, actions, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses that are caused or claimed to be caused by or are a result of the acts or omissions of Seller or Seller’s 's respective agents or employees, (c) any and all claims of any kind and description of employees that relate to their, hiring, employment and/or termination by Buyer, provided that the facts or events giving rise to such claims occurred after the Closing Date, (d) any and all debts, obligations and liabilities of Seller specifically assumed by Buyer hereunder hereunder, and any Damages resulting from the operation of the Business by Buyer after the Closing Date, (ed) damage done actions or failure to act by Buyer or Buyer’s 's representatives during the inspection and due diligence of the BusinessReal Property, (fe) all obligations and liabilities arising after the Assumed Obligations, Closing Date related to the Leases assumed by Buyer; and (gf) any and all claims made by any broker, finder or agent claiming a fee or commission through Buyer. Notwithstanding any provision of this Section 18.1 15.1 to the contrary, the obligations of Buyer to indemnify the Seller for any and all debts, obligations and liabilities of Seller arising from or related to any Assumed Obligations, specifically assumed by Buyer hereunder shall extend for the length of the remaining term of such agreements and shall not be limited to claims made prior to the expiration period of the eighteen (18) month period following the Closing Datedebt, obligation or liability. If and to the extent Seller notifies Buyer in writing of a claim for indemnification for any matter covered by clause (a) above on or prior to the expiration of the eighteen (1818th) month period after the Closing Date, Buyer shall continue to be obligated to provide indemnification hereunder with respect to such claim until such time that such claim is resolved and satisfied.
Appears in 1 contract
Samples: Real Property Purchase and Sale Agreement (Peninsula Gaming Corp)
Buyer’s Indemnification. For a period of eighteen (18a) months after Subject to the Closing Date or earlier termination terms and limitations of this AgreementArticle, Buyer shall indemnifythe Buying Companies shall, defend jointly and severally, indemnify and hold harmless Seller and/or any of Seller’s officersthe Selling Companies, their Subsidiaries, directors, managersofficers and employees (the "Grace Indemnified Group"), employeesas the case may be, shareholdersfrom and against all Damages incurred by any member of the Grace Indemnified Group arising out of, incurred in connection with or relating to (i) the breach by or non-performance of any Buying Company, or agents subsequent to the Closing any Transferred Company or Transferred Joint Venture, of any of its covenants or agreements under this Agreement or any of the other Transaction Documents, (ii) any breach of or inaccuracy in any representation or warranty of Buyer set forth in Article 6, (iii) the failure of any Transferred Company or Transferred Joint Venture subsequent to the Closing to perform or fulfill its obligations under any contract, agreement or obligation for which any member of the Grace Group is or may be liable, as a guarantor or otherwise, (iv) any of the Total Dearborn Liabilities, including, without limitation, any liability or obligation relating to the Dearborn Business or the Total Dearborn Assets based upon or arising under any Environmental Law, except as may be otherwise provided in this Article 14, (v) the Buyer Group's hiring practices and decisions with respect to the Dearborn Business (including, but not limited to, Seller’s financial advisorany claims by any Current Employee alleging he or she was not hired or was terminated, on or after the Closing Date in violation of U.S. or non-U.S. non-discrimination laws), from and against (vi) any and all incidentsclaim concerning any aspect of the employment or termination of employment, claimsat or after the Closing, demandsof any Continued Dearborn Business Employee, actions(vii) (Intentionally Omitted), causes of action, suits, obligations, liabilities, losses, costs, damages (viii) any claim made by any Dearborn Business Employee or expenses, costs of investigation and defense, counsel any Transitional Services Employee for any severance pay or attorneys’ fees, whether under retainer or salary or otherwiseother severance benefit, including, without limitationbut not limited to, interestany individual who becomes entitled to such pay or benefits under the Xxxxx Xxxxxxxxx Arrangement before, penalties on or after the Closing Date and court costs any individual who under applicable law or otherwise is entitled to severance upon dismissal by the Selling Companies after refusing an offer to become an employee of the Buyer Group, (collectively, “Damages”), suffered or incurred by Seller and/or any or all of Seller’s officers, directors, managers, employees or agents, which directly or indirectly arise, result from or relate to (aix) any breach ofchange in the collective organization or joint committees applicable to any Continued Dearborn Business Employee that occurs at or after the Closing, or applicable to any Transitional Services Employee who commences employment with any member of the Buyer Group that occurs on or after the date that such employee commences such employment; (x) any claim made by any Dearborn Business Employee based on any agreement between the employee and any member of the Grace Group that was in the ordinary course of business or (xi) any claim under the U.S. Worker Adjustment and Retraining Notification Act, 29 X.X.X.xx.xx. 2101 et seq., or any failure comparable U.S., state or non-U.S. law arising out of any actions taken by the Buyer to perform, any of Buyer’s representations, warranties, covenants Group at or agreements contained in this Agreement, (b) matters that occur after the Closing or arise as a result of Buyer’s action or failure to take action after the Closing Date, except as to such incidents, claims, demands, actions, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses that are caused or claimed to be caused transactions contemplated by or are a result of the acts or omissions of Seller or Seller’s respective agents or employees, this Agreement.
(cb) any The representations and all claims of any kind and description of employees that relate to their, hiring, employment and/or termination by Buyer, provided that the facts or events giving rise to such claims occurred after the Closing Date, (d) any and all debts, obligations and liabilities of Seller specifically assumed by Buyer hereunder and any Damages resulting from the operation of the Business by Buyer after the Closing Date, (e) damage done by Buyer or Buyer’s representatives during the inspection and due diligence of the Business, (f) the Assumed Obligations, and (g) any and all claims made by any broker, finder or agent claiming a fee or commission through Buyer. Notwithstanding any provision of this Section 18.1 to the contrary, the obligations warranties of Buyer to indemnify Seller for any and all debts, obligations and liabilities of Seller arising from or related to any Assumed Obligations, set forth in Article 6 shall extend for survive the length of the remaining term of such agreements and shall not be limited to claims made prior to the expiration of the eighteen (18) month period following the Closing Date. If and to the extent Seller notifies Buyer in writing of a claim for indemnification for any matter covered by clause (a) above on or prior to the expiration of the eighteen (18) month period after the Closing Date, Buyer shall continue to be obligated to provide indemnification hereunder with respect to such claim until such time that such claim is resolved and satisfiedClosing.
Appears in 1 contract
Samples: Worldwide Purchase and Sale Agreement (Grace W R & Co /Ny/)
Buyer’s Indemnification. For a period of eighteen (18) months after the Closing Date or earlier termination of this Agreement, A. Buyer shall indemnify, defend agrees to indemnify and hold harmless Seller and/or any of Seller’s and its officers, directors, employees, members, managers, employeesand successors and any subsidiaries thereof (collectively, shareholdersthe “Seller Indemnified Parties”) harmless for, or agents (includingfrom, but not limited to, Seller’s financial advisor), from and against any and all incidentsdamages, claims, demands, actions, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses, costs of investigation and defense, counsel or attorneys’ fees, whether under retainer or salary or otherwiseany kind, including, without limitation, costs of investigation, interest, penalties penalties, reasonable attorneys’ fees, and court costs (collectivelyany and all costs, “Damages”)expenses, suffered and fees incident to any suit, action, or proceeding, incurred or sustained by Seller and/or any or all of Seller’s officers, directors, managers, employees or agentsIndemnified Parties, which directly or indirectly arisearise out of, result from from, or relate to are related to: (a) any inaccuracy in or omission or Buyer’s breach ofor non-fulfillment of any representation, warranty, condition, agreement, or any failure by Buyer to perform, any of Buyer’s representations, warranties, covenants or agreements covenant contained in this Agreement, ; (b) matters that occur any and all liabilities or arise as a result obligations relating to the operation of Buyer’s action or failure to take action business after the Closing Date, except as to such incidentsincluding, claimswithout limitation, demands, actions, causes of action, suits, obligations, all tax liabilities, lossesliabilities for breach of contract, costsliabilities arising in tort, damages liabilities for materials sold or expenses that are caused services rendered, payroll liabilities and liabilities to any creditors, or claimed third parties, except to be caused the extent such liabilities or obligations have been expressly excluded by or are a result of the acts or omissions of Seller or Seller’s respective agents or employees, Buyer in writing pursuant to this Agreement; and (c) any damages, costs, penalties and all claims attorneys’ fees incurred due to the loss, damage or destruction of the paper business records presently located at each of the Purchased Location.
B. Seller agrees that, upon the receipt of a third-party claim in respect of which indemnity may be sought under this Section 9.2 Seller will give written notice within ten (10) days of such claim (the “Seller’s Notice of Claim”) to Buyer. Seller will be entitled, at its own expense, to participate in the defense of any kind and description such claim or action against Buyer. Buyer will have the right to assume the entire defense of employees that relate to their, hiring, employment and/or termination by Buyersuch claim, provided that that: (a) Buyer gives written notice of its desire to defend such claim (the facts “Seller’s Notice of Defense”) to Seller within 15 days after Seller’s receipt (either individually or events giving rise collectively) of the Seller’s Notice of Claim; (b) Buyer’s defense of such claim will be without cost of Seller or prejudice to Seller’s rights under this Section 9.2; (c) counsel chosen by Buyer to defend such claims occurred after the Closing Date, claim will be reasonably acceptable to Seller; (d) any Buyer will bear all costs and all debts, obligations and liabilities expenses in connection with the defense of Seller specifically assumed by Buyer hereunder and any Damages resulting from the operation of the Business by Buyer after the Closing Date, such claim; (e) damage done by Buyer or BuyerSeller will have the right, at Seller’s representatives during expense, to have Seller’s counsel participate in the inspection defense of such claim; and due diligence of the Business, (f) Seller will have the Assumed Obligations, right to receive periodic reports from Buyer and (g) any and all claims made by any broker, finder or agent claiming a fee or commission through Buyer. Notwithstanding any provision of this Section 18.1 to the contrary, the obligations of Buyer to indemnify Seller for any and all debts, obligations and liabilities of Seller arising from or related to any Assumed Obligations, shall extend for the length of the remaining term of such agreements and shall not be limited to claims made prior to the expiration of the eighteen (18) month period following the Closing Date. If and to the extent Seller notifies Buyer in writing of a claim for indemnification for any matter covered by clause (a) above on or prior to the expiration of the eighteen (18) month period after the Closing Date, Buyer shall continue to be obligated to provide indemnification hereunder ’s counsel with respect to the status and details of the defense of such claim until such time that such claim is resolved and satisfiedwill have the right to make direct inquiries to Seller’s counsel in this regard.
C. This Section 9.1 shall survive any termination of this Agreement.
Appears in 1 contract
Buyer’s Indemnification. For a period of eighteen (18a) months after Subject to the Closing Date or earlier termination terms and limitations of this AgreementArticle, Buyer shall indemnifythe Buying Companies shall, defend jointly and severally, indemnify and hold harmless Seller and/or any of Seller’s officersthe Selling Companies, their Subsidiaries, directors, managersofficers and employees (the "Grace Indemnified Group"), employeesas the case may be, shareholdersfrom and against all Damages incurred by any member of the Grace Indemnified Group arising out of, incurred in connection with or relating to (i) the breach by or non-performance of any Buying Company, or agents subsequent to the Closing any Transferred Company or Transferred Joint Venture, of any of its covenants or agreements under this Agreement or any of the other Transaction Documents, (ii) any breach of or inaccuracy in any representation or warranty of Buyer set forth in Article 6, (iii) the failure of any Transferred Company or Transferred Joint Venture subsequent to the Closing to perform or fulfill its obligations under any contract, agreement or obligation for which any member of the Grace Group is or may be liable, as a guarantor or otherwise, (iv) any of the Total Dearborn Liabilities, including, without limitation, any liability or obligation relating to the Dearborn Business or the Total Dearborn Assets based upon or arising under any Environmental Law, except as may be otherwise provided in this Article 14, (v) the Buyer Group's hiring practices and decisions with respect to the Dearborn Business (including, but not limited to, Seller’s financial advisorany claims by any Current Employee alleging he or she was not hired or was terminated, on or after the Closing Date in violation of U.S. or non-U.S. non- discrimination laws), from and against (vi) any and all incidentsclaim concerning any aspect of the employment or termination of employment, claimsat or after the Closing, demandsof any Continued Dearborn Business Employee, actions(vii) (Intentionally Omitted), causes of action, suits, obligations, liabilities, losses, costs, damages (viii) any claim made by any Dearborn Business Employee or expenses, costs of investigation and defense, counsel any Transitional Services Employee for any severance pay or attorneys’ fees, whether under retainer or salary or otherwiseother severance benefit, including, without limitationbut not limited to, interestany individual who becomes entitled to such pay or benefits under the Xxxxx Xxxxxxxxx Arrangement before, penalties on or after the Closing Date and court costs any individual who under applicable law or otherwise is entitled to severance upon dismissal by the Selling Companies after refusing an offer to become an employee of the Buyer Group, (collectively, “Damages”), suffered or incurred by Seller and/or any or all of Seller’s officers, directors, managers, employees or agents, which directly or indirectly arise, result from or relate to (aix) any breach ofchange in the collective organization or joint committees applicable to any Continued Dearborn Business Employee that occurs at or after the Closing, or applicable to any Transitional Services Employee who commences employment with any member of the Buyer Group that occurs on or after the date that such employee commences such employment; (x) any claim made by any Dearborn Business Employee based on any agreement between the employee and any member of the Grace Group that was in the ordinary course of business or (xi) any claim under the U.S. Worker Adjustment and Retraining Notification Act, 29 U.S.C.SECTIONSECTION 2101 et seq., or any failure comparable U.S., state or non-U.S. law arising out of any actions taken by the Buyer to perform, any of Buyer’s representations, warranties, covenants Group at or agreements contained in this Agreement, (b) matters that occur after the Closing or arise as a result of Buyer’s action or failure to take action after the Closing Date, except as to such incidents, claims, demands, actions, causes of action, suits, obligations, liabilities, losses, costs, damages or expenses that are caused or claimed to be caused transactions contemplated by or are a result of the acts or omissions of Seller or Seller’s respective agents or employees, this Agreement.
(cb) any The representations and all claims of any kind and description of employees that relate to their, hiring, employment and/or termination by Buyer, provided that the facts or events giving rise to such claims occurred after the Closing Date, (d) any and all debts, obligations and liabilities of Seller specifically assumed by Buyer hereunder and any Damages resulting from the operation of the Business by Buyer after the Closing Date, (e) damage done by Buyer or Buyer’s representatives during the inspection and due diligence of the Business, (f) the Assumed Obligations, and (g) any and all claims made by any broker, finder or agent claiming a fee or commission through Buyer. Notwithstanding any provision of this Section 18.1 to the contrary, the obligations warranties of Buyer to indemnify Seller for any and all debts, obligations and liabilities of Seller arising from or related to any Assumed Obligations, set forth in Article 6 shall extend for survive the length of the remaining term of such agreements and shall not be limited to claims made prior to the expiration of the eighteen (18) month period following the Closing Date. If and to the extent Seller notifies Buyer in writing of a claim for indemnification for any matter covered by clause (a) above on or prior to the expiration of the eighteen (18) month period after the Closing Date, Buyer shall continue to be obligated to provide indemnification hereunder with respect to such claim until such time that such claim is resolved and satisfiedClosing.
Appears in 1 contract
Samples: Worldwide Purchase and Sale Agreement (Betz Laboratories Inc)