FAILING TO ASSUME THE DEFENSE. If the indemnifying party fails to participate in or assume the defense within 15 days after receiving notice of the action, the indemnifying party is bound by any determination made in the action or by any compromise or settlement made by the other party.
Appears in 11 contracts
Samples: Administration and Accounting Services Agreement (First Trust Variable Insurance Trust), Checking and Financial Recordkeeping Services Agreement (Nassau Life Variable Accumulation Account), Checking and Financial Recordkeeping Services Agreement (Nassau Life Variable Universal Life Account)
FAILING TO ASSUME THE DEFENSE. If the indemnifying party fails to participate in or assume the defense within 15 30 days after receiving notice of the action, the indemnifying party is bound by any determination made in the action or by any compromise or settlement made by the other partyparty provided, however, that the indemnified party shall notify the indemnifying party of any compromise or settlement of any such indemnifiable claim.
Appears in 5 contracts
Samples: Transfer Agency Services Agreement (Roxbury Funds), Custodian Services Agreement (Roxbury Funds), Transfer Agency Services Agreement (Roxbury Funds)
FAILING TO ASSUME THE DEFENSE. If the indemnifying party fails to participate in or assume the defense within 15 30 days after receiving notice of the action, the indemnifying party is bound by any determination made in the action or by any compromise or settlement made by the other party.
Appears in 3 contracts
Samples: Underwriting Agreement (Highmark Funds /Ma/), Underwriting Agreement (Highmark Funds /Ma/), Sub Administration and Accounting Services Agreement (Highmark Funds /Ma/)
FAILING TO ASSUME THE DEFENSE. If the indemnifying party fails to participate in or assume the defense within 15 days after receiving notice of the action, the indemnifying party is bound by any determination made in the action or by any compromise or settlement made by the other party. The provisions of this Section 12 state each party's entire obligation with respect to any claim of indemnification.
Appears in 1 contract
Samples: Transfer Agency Services Agreement (JNL Investors Series Trust)
