Failure to Assume Defense. If the Indemnifying Party, by the thirtieth day after receipt of notice of any such claim does not elect to defend against such claim, the Indemnified Party will (upon further notice to the Indemnifying Party) have the right to undertake the defense, compromise or settlement of such claim on behalf of; at the expense of; and for the account and risk of the Indemnifying Party; provided, however, that the Indemnified Party shall not settle or compromise such claim without the Indemnifying Party's consent, and provided further that, the Indemnifying Party shall have the right to assume the defense of such claim with counsel of its own choosing at any time prior to settlement, compromise or final determination thereof.
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Samples: Worldwide Purchase and Sale Agreement (Continental Global Group Inc)
Failure to Assume Defense. If the Indemnifying Party, by the thirtieth day after receipt of notice of any such claim (or, if earlier, by the fifth day preceding the day on which an answer or other pleading must be served in order to prevent judgment by default in favor of the person asserting such claim), does not elect to defend against such claim, the Indemnified Party will (upon further notice to the Indemnifying Party) have the right to undertake the defense, compromise or settlement of such claim on behalf of; at the expense of; of and for the account and risk of the Indemnifying Party; providedPROVIDED, howeverHOWEVER, that the Indemnified Party shall not settle or compromise such claim without the Indemnifying Party's consent, and provided further that, the Indemnifying Party which consent shall have the right to assume the defense of such claim with counsel of its own choosing at any time prior to settlement, compromise or final determination thereofnot be unreasonably withheld.
Appears in 1 contract
Samples: Stock Purchase Agreement (Wellpoint Health Networks Inc /De/)
Failure to Assume Defense. If the Indemnifying Party, Party by the thirtieth 15th day after receipt of notice of any such claim (or if earlier by the 5th day preceding the day on which the answer or other pleading must be filed in order to prevent judgment by default in favor of the person asserting such claim), does not elect to defend against such claim, the Indemnified Party will (upon further notice to the Indemnifying Party) have the right to undertake the defense, compromise or settlement of such claim on behalf of; at the expense of; of and for the account and risk of the Indemnifying Party; provided, provided however, that the Indemnified Party shall will not settle or compromise such claim without the Indemnifying Party's Parties consent, which consent will not be unreasonably withheld; and provided further thatfurther, that the Indemnifying Party shall will have the right to assume the defense of such claim with counsel of its own choosing at any time prior to settlement, compromise or final determination thereof.the
Appears in 1 contract
Samples: Agreement and Plan of Merger (International Alliance Services Inc)
Failure to Assume Defense. If the Indemnifying Party, by the thirtieth tenth day after receipt of notice of any such claim (or, if earlier, by the fifth day preceding the day on which an answer or other pleading must be served in order to prevent judgment by default in favor of the person asserting such claim), does not elect to defend against such claim, the Indemnified Party will (upon further notice to the Indemnifying Party) have the right to undertake the defense, compromise or settlement of such claim on behalf of; at the expense of; of and for the account and risk of the Indemnifying Party; provided, however, that the Indemnified Party shall not settle or compromise such claim without the Indemnifying Party's consent, which consent shall not be unreasonably withheld; and provided further that, the Indemnifying Party shall have the right to assume the defense of such claim with counsel of its own choosing at any time prior to settlement, compromise or final determination thereof.further
Appears in 1 contract
Failure to Assume Defense. If In the event that the Indemnifying Party, by the thirtieth 30th day after receipt of notice of any such claim (or, if earlier, by the tenth day preceding the day on which an answer or other pleading must be served in order to prevent judgment by default in favor of the person asserting such claim), does not elect to defend against such claim, the Indemnified Party will (upon further notice to the Indemnifying Party) have the right to undertake the defense, compromise or settlement of such claim on behalf of; at the expense of; of and for the account and risk of the Indemnifying Party; provided, however, that subject to the Indemnified Party shall not settle or compromise such claim without the Indemnifying Party's consent, and provided further that, right of the Indemnifying Party shall have the right to assume the defense of such claim with counsel of its own choosing at any time prior to settlement, compromise or final determination thereof.;
Appears in 1 contract
Samples: Stock Purchase Agreement (International Realty Group Inc)