Common use of Claims Defined Clause in Contracts

Claims Defined. For the purposes of Sections 7.2 and 7.3, "Claims" shall mean any and all costs, expenses, liabilities, obligations, losses, damages, penalties, actions or suits or claims of whatsoever kind or nature (whether or not on the basis of negligence, strict or absolute liability or liability in tort) (including, without limitation, Claims and Taxes arising out of, or in connection with ERISA, Section 4975 of the Code or provisions under any federal, state or local authority or any foreign governmental authority (or political subdivision thereof) that contains one or more provisions that are similar to Section 406 of ERISA or Section 4975 of the Code ("Similar Laws")) that may be imposed on, incurred by, suffered by, or asserted against an Indemnified Person, any Unit or any Pledged Unit or other Collateral and, except as otherwise expressly provided in Section 7.2 and 7.3, shall include, but not be limited to, all reasonable out-of-pocket costs, disbursements and expenses (including legal fees and expenses) paid or incurred by an Indemnified Person in connection therewith or related thereto.