BY CENTENNIAL Sample Clauses

BY CENTENNIAL. Centennial represents and warrants as follows: --------------
Sample 1
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BY CENTENNIAL. Centennial may unilaterally terminate this -------------- Agreement:
Sample 1
BY CENTENNIAL. If any matter subject to indemnification hereunder arises in the form of a claim against Centennial or its successors and assigns (herein referred to as a "Third Party Claim"), Centennial promptly shall give notice and details thereof, including copies of all pleadings and pertinent documents, to Crescent Financial. Within 15 days of such notice, Crescent Financial either (i) shall pay the Third Party Claim either in full or upon agreed compromise or (ii) shall notify Centennial that Crescent Financial disputes the Third Party Claim and intends to defend against it, and thereafter shall so defend and pay any adverse final judgment or award in regard thereto. Such defense shall be controlled by Crescent Financial and the cost of such defense shall be borne by Crescent Financial except that Centennial shall have the right to participate in such defense at its own expense and provided that Crescent Financial shall have no right in connection with any such defense or the resolution of any such Third Party Claim to impose any cost, restriction, limitation or condition of any kind upon Centennial or its successors and assigns. Centennial agrees that it shall cooperate in all reasonable respects in the defense of any such Third Party Claim, including making personnel, books and records relevant to the Third Party Claim available to Crescent Financial without charge therefor except for out-of-pocket expenses. If Crescent Financial fails to take action within 15 days as hereinabove provided or, having taken such action, thereafter fails diligently to defend and resolve the Third Party Claim, Centennial shall have the right to pay, compromise or defend the Third Party Claim and to assert the indemnification provisions hereof. Centennial also shall have the right, exercisable in good faith, to take such action as may be necessary to avoid a default prior to the assumption of the defense of the Third Party Claim by Crescent Financial.
Sample 1

Related to BY CENTENNIAL

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