Failure of Indemnifying Party to Act. In the event that the indemnifying Party does not elect to assume the defense of any claim, suit, action or proceeding, then any failure of the indemnified Party to defend or to participate in the defense of any such claim, suit, action or proceeding or to cause the same to be done, shall not relieve the indemnifying Party of its obligations hereunder; provided, however, that the indemnified Party shall have given the indemnifying Party at least 30 days’ notice of its proposed failure to defend or participate and affords the indemnifying Party the opportunity to assume the defense thereof prior to the end of such period.
Appears in 6 contracts
Samples: Asset Purchase Agreement (Cemtrex Inc), Asset Purchase Agreement (Cemtrex Inc), Asset Purchase Agreement (Globe Photos, Inc.)
Failure of Indemnifying Party to Act. In the event that the indemnifying Party party does not elect to assume the defense of any claim, suit, action or proceeding, then any failure of the indemnified Party party to defend or to participate in the defense of any such claim, suit, action or proceeding or to cause the same to be done, shall not relieve the indemnifying Party party of its obligations hereunder; , provided, however, that the indemnified Party shall have given party gives the indemnifying Party party at least 30 days’ thirty (30) days written notice of its proposed failure to defend or participate and affords the indemnifying Party party the opportunity to assume the defense thereof prior to the end of such periodthereof.
Appears in 3 contracts
Samples: Master Agreement (Chequemate International Inc), Master Agreement (Chequemate International Inc), Master Agreement (Chequemate International Inc)
Failure of Indemnifying Party to Act. In the event that the indemnifying Indemnifying Party does not elect to assume the defense of any claim, suit, action claim or proceedingto cause the same to be done, then any failure of the indemnified Indemnified Party to defend or to participate in the defense of any such claim, suit, action or proceeding claim or to cause the same to be done, shall not relieve the indemnifying Indemnifying Party of its obligations hereunder; provided, provided however, that the indemnified Indemnified Party shall have given the indemnifying Indemnifying Party at least 30 thirty (30) days’ ' notice of its proposed failure to defend or participate and affords afford the indemnifying Indemnifying Party the opportunity to assume the defense thereof prior to the end of such period.
Appears in 3 contracts
Samples: Research, Collaboration and Distribution Agreement (Intracel Corp), Collaboration and Distribution Agreement (Mentor Corp /Mn/), Research, Collaboration and Distribution Agreement (Intracel Corp)
Failure of Indemnifying Party to Act. In the event that the indemnifying Party party does not elect to assume the defense of any claim, suit, action or proceeding, then any failure of the indemnified Party party to defend or to participate in the defense of any such claim, suit, action or proceeding or to cause the same to be done, shall not relieve the indemnifying Party party of its obligations hereunder; provided, however, provided that the indemnified Party shall have given party gives the indemnifying Party party at least 30 thirty (30) days’ ' notice of its proposed failure intention not to defend or participate and affords the indemnifying Party party the opportunity to assume the defense thereof prior to the end of such periodthereof.
Appears in 3 contracts
Samples: Share Purchase Agreement (Internet Cable Corp), Share Purchase Agreement (Laser Master International Inc), Share Purchase Agreement (Internet Cable Corp)