Common use of Company’s Indemnity Clause in Contracts

Company’s Indemnity. During the Hire Period the Company will indemnify You (“the Indemnity”) In respect of any Court Judgment obtained by a Third Party in respect of property loss or damage arising from an incident caused or contributed to by You to a limit of $50,000, other than in relation to any property which is (a) owned by You (or any friend, relative, associate or partner of Yours) or (b) in your Possession or control, provided always that: (i) You have paid the Liability Charge to the Company in cash within 12 hours of the said incident in consideration for the Company giving the required Indemnity; and (ii) You are not in breach of this Agreement (whether prior or subsequent to the said incident); and (iii) You are not covered under any policy of insurance in respect of the said incident; (iv) You promptly provide such information and assistance as may be requested by the Company from time to time and, if requested, You have authorised the Company or any other person nominated by the Company (“the Nominee”) to bring, defend or settle legal proceedings in which event the Company or the Nominee as the case may be shall have sole conduct of the proceedings; (v) You acknowledge and agree that the Company shall be subrogated to any rights which You at any time have or might have against any other person as a consequence of the incident for which You require the lndemnity (“the Subrogated Rights”); and (vi) You have not engaged in any act or omission which In the Company’s unfettered opinion has detrimentally affected its ability to enforce the Subrogated Rights; (vii) Prior to entering into this Agreement, you fully disclosed any Material Fact to the Company; and (viii) You have not admitted liability wholly or in part for the incident,