Failure of Indemnifying Party to Act. In the event that the indemnifying Party does not elect to assume the defense of any Third Party Claim, then any failure of the indemnified Party to defend or to participate in the defense of any such Third Party Claim 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 7 contracts
Samples: Equity Purchase Agreement (Verano Holdings Corp.), Equity Purchase Agreement (Verano Holdings Corp.), Equity Purchase Agreement (Verano Holdings Corp.)
Failure of Indemnifying Party to Act. In the event that the indemnifying Party does not elect to assume the defense of any Third Party Claimclaim, suit, action or proceeding, then any failure of the indemnified Party to defend or to participate in the defense of any such Third Party Claim 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.)
