Common use of In consideration of Clause in Contracts

In consideration of. the Buyer's execution and delivery of the Transaction Documents and acquiring the Securities hereunder and in addition to all of the Company's other obligations under the Transaction Documents, the Company shall defend, protect, indemnify and hold harmless the Buyer and all of its affiliates, shareholders, officers, directors, employees and direct or indirect investors and any of the foregoing person's agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "Indemnitees") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified Liabilities"), incurred by any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in the Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in the Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such Indemnitee and arising out of or resulting from the execution, delivery, performance or enforcement of the Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby, other than with respect to Indemnified Liabilities which directly and primarily result from the gross negligence or willful misconduct of the Indemnitee. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law.

Appears in 24 contracts

Samples: Common Stock Purchase Agreement, Common Stock Purchase Agreement (CepTor CORP), Common Stock Purchase Agreement (Integrated Business Systems & Services Inc)

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In consideration of. the Buyer's ’s execution and delivery of the Transaction Documents this Agreement and acquiring the Securities hereunder hereunder, and in addition to all of the Company's ’s other obligations under this Agreement or the Transaction DocumentsNote, the Company shall defend, protect, indemnify and hold harmless the Buyer and all of its affiliatesstockholders, shareholderspartners, members, officers, directors, employees and direct or indirect investors and any of the foregoing person's persons’ agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "Indemnitees") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified Liabilities"), incurred by any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in this Agreement, the Transaction Documents Note or any other agreement, certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in this Agreement, the Transaction Documents Note or any other agreement, certificate, instrument or document contemplated hereby or thereby, thereby or (c) any cause of action, suit or claim brought or made against such Indemnitee by a third party (including for these purposes a derivative action brought on behalf of the Company) and arising out of or resulting from (i) the execution, delivery, performance or enforcement of this Agreement, the Transaction Documents Note or any other agreement, certificate, instrument or document contemplated hereby or thereby, other than (ii) any transaction financed or to be financed in whole or in part, directly or indirectly, with respect to Indemnified Liabilities which directly and primarily result from the gross negligence or willful misconduct proceeds of the Indemniteeissuance of the Securities, or (iii) the status of the Buyer or holder of the Securities as an investor in the Company pursuant to the transactions contemplated by this Agreement. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which that is permissible under applicable law.

Appears in 8 contracts

Samples: Securities Purchase Agreement (Novo Integrated Sciences, Inc.), Securities Purchase Agreement (Data443 Risk Mitigation, Inc.), Securities Purchase Agreement (RespireRx Pharmaceuticals Inc.)

In consideration of. the Buyer's execution and delivery of the Transaction Documents --------------- this Agreement and acquiring acquisition of the Securities hereunder and in addition to all of the Company's other obligations under the Transaction Documents, the Company shall defend, protect, indemnify and hold harmless the Buyer and all of its affiliates, shareholdersstockholders, officers, directors, employees and direct or indirect investors and any of the foregoing forgoing person's agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "Indemnitees") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified Liabilities"), as incurred by any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in the Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in the Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby, or (c) any a)any cause of action, suit or claim brought or made against such Indemnitee and arising out of or resulting from the execution, delivery, performance performance, breach or enforcement of the Transaction Documents Documents, or any other certificate, instrument or document contemplated hereby or thereby, other than with respect to Indemnified Liabilities which directly and primarily result from (b) the gross negligence or willful misconduct status of the IndemniteeBuyer as an investor in the Company (however, the Buyer shall not be entitled to indemnity under this clause (b) as a result of solely of investment losses it may suffer in its investment in the Securities not attributable to an Indemnified Liability). To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Fonix Corp), Securities Purchase Agreement (Fonix Corp)

In consideration of. the each Buyer's execution and delivery of the Transaction Documents this Agreement and acquiring the Securities hereunder and in addition to all of the Company's other obligations under the Transaction Documentsthis Agreement, the Company shall defend, protect, indemnify and hold harmless the each Buyer and each other holder of Securities and all of its affiliates, shareholders, their officers, directors, employees and direct or indirect investors and any of the foregoing person's agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "Buyer Indemnitees") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Buyer Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Buyer Indemnified Liabilities"), incurred by any Buyer Indemnitee (and shall advance the same) as a result of, or arising out of, or relating to (a) subject to Section 9(i), any misrepresentation or breach of any representation or warranty made by the Company in this Agreement, the Transaction Documents Convertible Notes, the Warrants, the Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in this Agreement, the Transaction Documents Convertible Notes, the Warrants or the Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such Indemnitee and arising out of or resulting from the execution, delivery, performance or enforcement of the Transaction Documents this Agreement or any other certificateinstrument, instrument document or document contemplated hereby agreement executed pursuant hereto by any of the Buyer Indemnitees, any transaction financed or therebyto be financed in whole or in part, other than directly or indirectly, with respect the proceeds of the issuance of the Convertible Notes and Warrants or the status of such Buyer or holder of any of the Securities as an investor in the Company except to the extent that such Buyer Indemnified Liabilities which are incurred directly and primarily as a result from the gross negligence of a breach by such Buyer Indemnitee of any covenant, agreement or willful misconduct obligation of the Indemniteesuch Buyer Indemnitee contained in this Agreement. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Buyer Indemnified Liabilities which is permissible under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Softnet Systems Inc)

In consideration of. the each Buyer's execution and --------------- delivery of the Transaction Documents and acquiring the Securities hereunder thereunder and in addition to all of the Company's other obligations under the Transaction DocumentsDocuments and the Articles of Amendment, the Company shall defend, protect, indemnify and hold harmless each Buyer and each other holder of the Buyer Securities and all of its affiliates, shareholderstheir stockholders, officers, directors, employees and direct or indirect investors and any of the foregoing person's agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "IndemniteesINDEMNITEES") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified LiabilitiesINDEMNIFIED LIABILITIES"), incurred by any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in the Transaction Documents Documents, the Articles of Amendment or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in the Transaction Documents Documents, the Articles of Amendment or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such Indemnitee and arising out of or resulting from the execution, delivery, performance or enforcement of the Transaction Documents or the Articles of Amendment, (d) any other certificatetransaction financed or to be financed in whole or in part, instrument directly or document contemplated hereby or therebyindirectly, other than with respect to Indemnified Liabilities which directly and primarily result from the gross negligence or willful misconduct proceeds of the Indemniteeissuance of the Securities or (e) the status of such Buyer or holder of the Securities as an investor in the Company. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Goodnoise Corp)

In consideration of. the Buyer's execution and delivery of the Transaction Documents this Agreement and acquiring the Securities Preferred Stock and the Conversion Shares, hereunder and in addition to all of the Company's other obligations under the Transaction Documentsthis Agreement, the Company shall defend, protect, indemnify and hold harmless the Buyer and each other holder of the Preferred Stock, the Conversion Shares, and all of its affiliates, shareholders, their officers, directors, employees and direct or indirect investors and any of the foregoing person's agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "Indemnitees") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified Liabilities"), incurred by the Indemnitees or any Indemnitee of them as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in this Agreement, the Transaction Documents Preferred Stock or the Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in this Agreement, the Transaction Documents Preferred Stock, the Registration Rights Agreement, or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such Indemnitee by any third party and arising out of or resulting from the execution, delivery, performance or enforcement of the Transaction Documents this Agreement or any other certificateinstrument, instrument document or document contemplated hereby or thereby, other than with respect to Indemnified Liabilities which directly and primarily result from the gross negligence or willful misconduct agreement executed pursuant hereto by any of the IndemniteeIndemnities, any transaction financed or to be financed in whole or in part, directly or indirectly, with the proceeds of the issuance of the Preferred Stock or the status of the Buyer or holder of the Preferred Stock, the Conversion Shares, as an investor in the Company. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities Liabilities, which is permissible under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Bico Inc/Pa)

In consideration of. the each Buyer's execution and --------------- delivery of the Transaction Documents and acquiring the Securities hereunder thereunder and in addition to all of the Company's other obligations under the Transaction Documents, the Company shall defend, protect, indemnify and hold harmless each Buyer and each other holder of the Buyer Securities and all of its affiliates, shareholderstheir stockholders, officers, directors, employees and direct or indirect investors and any of the foregoing person's agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "IndemniteesINDEMNITEES") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified LiabilitiesINDEMNIFIED LIABILITIES"), incurred by any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in the Transaction Documents or the Statement of Designations or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in the Transaction Documents or the Statement of Designations or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such Indemnitee and arising out of or resulting from the execution, delivery, performance in accordance with its terms or enforcement of this Agreement against the Transaction Documents Company or any other certificateinstrument, instrument document or document contemplated hereby or thereby, other than with respect to Indemnified Liabilities which directly and primarily result from the gross negligence or willful misconduct agreement executed pursuant hereto by any of the IndemniteeIndemnitees, any transaction financed or to be financed in whole or in part, directly or indirectly, with the proceeds of the issuance of the Securities or the status of such Buyer or holder of the Securities as an investor in the Company. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Data Race Inc)

In consideration of. the each Buyer's execution and delivery of the Transaction Documents this Agreement and acquiring the Securities hereunder and in addition to all of the Company's other obligations under the Transaction Documentsthis Agreement, the Company shall defend, protect, indemnify and hold harmless the each Buyer and each other holder of Securities and all of its affiliates, shareholders, their officers, directors, employees and direct or indirect investors and any of the foregoing person's agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "Buyer Indemnitees") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Buyer Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Buyer Indemnified Liabilities"), incurred by any Buyer Indemnitee (and shall advance the same) as a result of, or arising out of, or relating to (a) subject to Section 9(i), any misrepresentation or breach of any representation or warranty made by the Company in this Agreement, the Transaction Documents Series F Registration Rights Agreement, the Series G Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in this Agreement, the Transaction Documents Series F Registration Rights Agreement, the Series G Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such Indemnitee and arising out of or resulting from the execution, delivery, performance or enforcement of the Transaction Documents this Agreement or any other certificateinstrument, instrument document or document contemplated hereby or thereby, other than with respect to Indemnified Liabilities which directly and primarily result from the gross negligence or willful misconduct agreement executed pursuant hereto by any of the IndemniteeBuyer Indemnitees. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Buyer Indemnified Liabilities which is permissible under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Lasersight Inc /De)

In consideration of. the Buyer's execution and delivery of the Transaction Documents this Agreement and acquiring the Securities hereunder and in addition to all of the Company's other obligations under the Transaction Documentsthis Agreement, the Company shall defend, protect, indemnify and hold harmless the Buyer and each other holder of the Securities and all of its affiliates, shareholderstheir stockholders, officers, directors, employees and direct or indirect investors and any of the foregoing person's persons' agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "Indemnitees") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified Liabilities"), incurred by any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in the Transaction Documents this Agreement or any other certificate, instrument or document contemplated hereby or therebyhereby, (b) any breach of any covenant, agreement or obligation of the Company contained in the Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby, or this Agreement (c) any cause of action, suit or claim brought or made against such Indemnitee (other than a cause of action, suit or claim which is (x) brought or made by the Company and (y) is not a shareholder derivative suit) and arising out of or resulting from (i) the execution, delivery, performance or enforcement of the Transaction Documents this Agreement or any other certificate, instrument or document contemplated hereby or thereby, other than (ii) any transaction financed or to be financed in whole or in part, directly or indirectly, with respect to Indemnified Liabilities which directly and primarily result from the gross negligence or willful misconduct proceeds of the Indemniteeissuance of the Securities or (iii) the status of the Buyer or holder of the Securities as an investor in the Company. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Harvard Industries Inc)

In consideration of. the each Buyer's execution and delivery of the Transaction Documents this Agreement and acquiring the Securities hereunder Shares thereunder and in addition to all of the Company's other obligations under the Transaction Documentshereunder, the Company shall defend, protect, indemnify and hold harmless the each Buyer and all of its affiliates, shareholderstheir stockholders, officers, directors, employees and direct or indirect investors and any of the foregoing person's persons' agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "Indemnitees") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified Liabilities"), incurred by any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company herein or in the Transaction Documents or any other certificate, instrument or document contemplated hereby or therebyhereby, (b) any breach of any covenant, agreement or obligation of the Company contained in the Transaction Documents herein or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such Indemnitee (other than a cause of action, suit or claim which is (x) brought or made by the Company and (y) is not a stockholder derivative suit) and arising out of or resulting from (i) the execution, delivery, performance or enforcement of the Transaction Documents this Agreement or any other certificate, instrument or document contemplated hereby hereby, (ii) any transaction financed or therebyto be financed in whole or in part, other than directly or indirectly, with respect to Indemnified Liabilities which directly and primarily result from the gross negligence or willful misconduct proceeds of the Indemniteeissuance of the Shares or (iii) the status of such Buyer as an investor in the Company. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Classica Group Inc)

In consideration of. the each Buyer's execution and --------------- delivery of the Transaction Documents and acquiring the Securities hereunder thereunder and in addition to all of the Company's other obligations under the Transaction DocumentsDocuments and the Certificate of Designations, the Company shall defend, protect, indemnify and hold harmless each Buyer and each other holder of the Buyer Securities and all of its affiliates, shareholderstheir stockholders, officers, directors, employees and direct or indirect investors and any of the foregoing forgoing person's agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "IndemniteesINDEMNITEES") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified LiabilitiesINDEMNIFIED LIABILITIES"), incurred by any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in the Transaction Documents or the Certificate of Designations or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in the Transaction Documents or the Certificate of Designations or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such Indemnitee and arising out of or resulting from the execution, delivery, performance or enforcement of the Transaction Documents or the Certificate of Designations (d) any other certificatetransaction financed or to be financed in whole or in part, instrument directly or document contemplated hereby indirectly, with the proceeds of the issuance of the Securities, excluding losses resulting solely from a decline in the market value of the Company's securities or thereby(e) the status of such Buyer or holder of the Securities as an investor in the Company. Notwithstanding the foregoing, other than with respect to Indemnified Liabilities which directly and primarily result from the gross negligence or shall not include any liability of an Indemnitee arising solely out of such Indemnitee's willful misconduct of the Indemniteeor fraudulent action(s). To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law. Except as otherwise set forth herein, the mechanics and procedures with respect to the rights and obligations under this Section 8 shall be the same as those set forth in Sections 6(a) and (d) of the Registration Rights Agreement, including, without limitation, those procedures with respect to the settlement of claims and the Company's rights to assume the defense of claims.

Appears in 1 contract

Samples: Securities Purchase Agreement (Advanced Tissue Sciences Inc)

In consideration of. the Buyer's execution and delivery of the Transaction Documents this Agreement and acquiring the Securities hereunder hereunder, and in addition to all of the Company's other obligations under this Agreement, the Transaction DocumentsRegistration Rights Agreement, the Notes or the Warrant, the Company shall defend, protect, indemnify and hold harmless the Buyer and all of its affiliatesstockholders, shareholderspartners, members, officers, directors, employees and direct or indirect investors and any of the foregoing person's persons' agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "Indemnitees") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified Liabilities"), incurred by any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in this Agreement, the Transaction Documents Registration Rights Agreement, or the Notes or the Warrant, or any other agreement, certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in this Agreement, the Transaction Documents Registration Rights Agreement, the Notes or the Warrant, or any other agreement, certificate, instrument or document contemplated hereby or thereby, thereby or (c) any cause of action, suit or claim brought or made against such Indemnitee by a third party (including for these purposes a derivative action brought on behalf of the Company) and arising out of or resulting from (i) the execution, delivery, performance or enforcement of this Agreement, the Transaction Documents Registration Rights Agreement, the Notes or the Warrant, or any other agreement, certificate, instrument or document contemplated hereby or thereby, other than (ii) any transaction financed or to be financed in whole or in part, directly or indirectly, with respect to Indemnified Liabilities which directly and primarily result from the gross negligence or willful misconduct proceeds of the Indemniteeissuance of the Securities, or (iii) the status of the Buyer or holder of the Securities as an investor in the Company pursuant to the transactions contemplated by this Agreement. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which that is permissible under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Eventure Interactive, Inc.)

In consideration of. the each Buyer's execution and delivery of the Transaction Documents this Agreement and acquiring the Securities hereunder and in addition to all of the Company's other obligations under the Transaction Documentsthis Agreement, the Company shall defend, protect, indemnify and hold harmless the each Buyer and each other holder of Securities and all of its affiliates, shareholders, their officers, directors, employees and direct or indirect investors and any of the foregoing person's agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "IndemniteesBUYER INDEMNITEES") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Buyer Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified BUYER INDEMNIFIED Liabilities"), incurred by any Buyer Indemnitee (and shall advance the same) as a result of, or arising out of, or relating to (a) subject to Section 9(i), any misrepresentation or breach of any representation or warranty made by the Company in this Agreement, the Transaction Documents Certificate of Designations, the Warrants, the Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in this Agreement, the Transaction Documents Certificate of Designations, the Warrants or the Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such Buyer Indemnitee and arising out of or resulting from the execution, delivery, performance or enforcement of the Transaction Documents this Agreement or any other certificateinstrument, instrument document or document contemplated hereby or thereby, other than with respect to Indemnified Liabilities which directly and primarily result from the gross negligence or willful misconduct agreement executed pursuant hereto by any of the IndemniteeBuyer Indemnitees, any transaction financed or to be financed in whole or in part, directly or indirectly, with the proceeds of the issuance of the Series E Preferred Shares and Warrants or the status of such Buyer or holder of any of the Securities as an investor in the Company. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Buyer Indemnified Liabilities which is permissible under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Datatec Systems Inc)

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In consideration of. the Buyer's execution and delivery of the Transaction Documents this Agreement and acquiring the Securities hereunder Series A Preferred Shares and the Conversion Shares hereunder, and in addition to all of the Company's other obligations under the Transaction Documentsthis Agreement, the Company shall defend, protect, indemnify and hold harmless the Buyer and each other holder of the Series A Preferred Shares and the Conversion Shares, and all of its affiliates, shareholders, their officers, directors, employees and direct or indirect investors and any of the foregoing person's agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "Indemnitees") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified Liabilities"), incurred by the Indemnitees or any Indemnitee of them as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in this Agreement, the Transaction Documents Series A Preferred Shares or the Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in this Agreement, the Transaction Documents Certificate of Designations, or the Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such Indemnitee and arising out of or resulting from the execution, delivery, performance or enforcement of the Transaction Documents this Agreement or any other certificateinstrument, instrument document or document contemplated hereby or thereby, other than with respect to Indemnified Liabilities which directly and primarily result from the gross negligence or willful misconduct agreement executed pursuant hereto by any of the IndemniteeIndemnities, any transaction financed or to be financed in whole or in part, directly or indirectly, with the proceeds of the issuance of the Series A Preferred Shares or the status of the Buyer or holder of the Series A Preferred Shares, the Conversion Shares, as an investor in the Company. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities Liabilities, which is permissible under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Diamond Entertainment Corp)

In consideration of. the Buyer's execution and delivery of the Transaction Documents this Agreement and acquiring the Securities Debentures and the Conversion Shares hereunder and in addition to all of the Company's other obligations under the Transaction Documentsthis Agreement, the Company shall defend, protect, indemnify and hold harmless the Buyer and each other holder of the Debentures and the Conversion Shares and all of its affiliates, shareholders, their officers, directors, employees and direct or indirect investors and any of the foregoing person's agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "Indemnitees") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified Liabilities"), incurred by the Indemnitees or any Indemnitee of them as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in this Agreement, the Transaction Documents Debentures or the Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in this Agreement, the Transaction Documents Debentures or the Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such Indemnitee by any third party and arising out of or resulting from the execution, delivery, performance or enforcement of the Transaction Documents this Agreement or any other certificateinstrument, instrument document or document contemplated hereby or thereby, other than with respect to Indemnified Liabilities which directly and primarily result from the gross negligence or willful misconduct agreement executed pursuant hereto by any of the IndemniteeIndemnities, any transaction financed or to be financed in whole or in part, directly or indirectly, with the proceeds of the issuance of the Debentures or the status of the Buyer or holder of the Debentures or the Conversion Shares, as an investor in the Company. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Spatialight Inc)

In consideration of. the Buyer's execution and delivery of the Transaction Documents this Agreement and acquiring the Securities hereunder and in addition to all of the Company's other obligations under the Transaction Documentsthis Agreement, the Company shall defend, protect, indemnify and hold harmless the Buyer and all each of its affiliates, shareholders, the Buyer's officers, directors, employees and direct or indirect investors and any of the foregoing person's agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "IndemniteesBUYER INDEMNITEES") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, suffered or claimed in actions, causes of action, suits or claims made by third parties and expenses in connection therewith (irrespective of whether any such the Buyer Indemnitee is a party to of the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified LiabilitiesBUYER INDEMNIFIED LIABILITIES"), incurred by any the Buyer Indemnitee (and shall advance the same) as a result of, or arising out of, or relating to (a) subject to Section 9(i), any misrepresentation or breach of any representation or warranty made by the Company in this Agreement, the Transaction Documents Convertible Note, the Warrants, the Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in this Agreement, the Transaction Documents Convertible Note, the Warrants or the Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such the Buyer Indemnitee and arising out of or resulting from the execution, delivery, performance or enforcement of the Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby, other than with respect to Indemnified Liabilities which directly and primarily result from the gross negligence or willful misconduct of the Indemnitee. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law.or

Appears in 1 contract

Samples: Securities Purchase Agreement (International Microcomputer Software Inc /Ca/)

In consideration of. the each Buyer's execution and delivery of the Transaction Documents this Agreement and acquiring the Securities hereunder and in addition to all of the Company's other obligations under the Transaction Documentsthis Agreement, the Company shall defend, protect, indemnify and hold harmless the each Buyer and each other holder of Securities and all of its affiliates, shareholders, their officers, directors, employees and direct or indirect investors and any of the foregoing person's agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "BUYER Indemnitees") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Buyer Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified LiabilitiesBUYER INDEMNIFIED LIABILITIES"), incurred by any Buyer Indemnitee (and shall advance the same) as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in this Agreement, the Transaction Documents Certificate of Designation, the Warrants, the Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in this Agreement, the Transaction Documents Certificate of Designation, the Warrants or the Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such Buyer Indemnitee and arising out of or resulting from the execution, delivery, performance or enforcement of the Transaction Documents this Agreement or any other certificateinstrument, instrument document or document contemplated hereby agreement executed pursuant hereto by any of the Buyer Indemnitees, any transaction financed or therebyto be financed in whole or in part, directly or indirectly, with the proceeds of the issuance of the Preferred Stock and Warrants or the status of such Buyer or holder of any of the Securities as an investor in the Company. Promptly after receipt by a Buyer Indemnitee of notice of the commencement of any action or proceeding (including any governmental action or proceeding) involving the Buyer Indemnified Liabilities , such Buyer Indemnitee shall deliver to the Company a written notice of the commencement thereof, and the Company shall have the right to participate in, and, to the extent it so desires, jointly with any other than indemnifying party similarly noticed, to assume control of the defense thereof with counsel selected by the Company and reasonably satisfactory to the Buyer Indemnitee; provided, however, that a Buyer Indemnitee shall have the right to retain its own counsel with the fees and expenses to be paid by the Company, if, in the reasonable opinion of counsel retained by the Company, the representation by such counsel of the Buyer Indemnitee and the Company would be inappropriate due to actual differing interests between such Buyer Indemnitee and any other party represented by such counsel in such proceeding. The Buyer Indemnitee shall cooperate fully with the Company in connection with any negotiation or defense of any such action or claim by the Company and shall furnish to the Company all information reasonably available to the Buyer Indemnitee which relates to such action or claim. The Company shall keep the Buyer Indemnitee fully apprised at all times as to the status of the defense or any settlement negotiations with respect thereto. The Company shall not be liable for any settlement of any action, claim or proceeding effected without its written consent, provided, however, that the Company shall not unreasonably withhold, delay or condition its consent. The Company shall not, without the consent of the Buyer Indemnitee, consent to entry of any judgment or enter into any settlement or other compromise which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Buyer Indemnitee of a release from all liability in respect to such claim or litigation. Following indemnification as provided for hereunder, the Company shall be subrogated to all rights of the Buyer Indemnitee with respect to Indemnified Liabilities all third parties, firms or corporations relating to the matter for which directly and primarily result from indemnification has been made. The failure to deliver written notice to the gross negligence or willful misconduct Company within a reasonable time of the commencement of any such action shall not relieve it of any liability to the Buyer Indemnitee, except to the extent that the Company is prejudiced in its ability to defend such action. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Buyer Indemnified Liabilities which is permissible under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Applied Digital Solutions Inc)

In consideration of. the Buyer's execution and delivery of the Transaction Documents this Agreement and acquiring acquisition of the Securities hereunder and in addition to all of the Company's other obligations under the Transaction Documents, the Company shall defend, protect, indemnify and hold harmless the Buyer and all of its affiliates, shareholdersstockholders, officers, directors, employees and direct or indirect investors and any of the foregoing forgoing person's agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "Indemnitees") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified Liabilities"), as incurred by any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in the Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in the Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such Indemnitee and arising out of or resulting from the execution, delivery, performance performance, breach or enforcement of the Transaction Documents Documents, or any other certificate, instrument or document contemplated hereby or thereby, other than with respect to Indemnified Liabilities which directly and primarily result from (b) the gross negligence or willful misconduct status of the IndemniteeBuyer as an investor in the Company (however, the Buyer shall not be entitled to indemnity under this clause (b) as a result solely of investment losses it may suffer in its investment in the Securities not attributable to an Indemnified Liability). To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Fonix Corp)

In consideration of. the Buyer's execution and delivery of the Transaction Documents and acquiring the Securities hereunder and in addition to all of the Company's other obligations under the Transaction Documents, the Company shall defend, protect, indemnify and hold harmless the Buyer and all of its affiliates, shareholders, officers, directors, employees and direct or indirect investors and any of the foregoing person's agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "Indemnitees") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified Liabilities"), incurred by any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in the Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in the Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such Indemnitee and arising out of or resulting from the execution, delivery, performance or enforcement of the Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby, other than with respect to Indemnified Liabilities which directly and primarily result from the gross negligence or willful misconduct of the Indemnitee. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law. Promptly after receipt by an Indemnitee of notice of the commencement of any action or proceeding (including any governmental action or proceeding) for which indemnification may be sought hereunder, such Indemnitee shall deliver to the company a written notice of the commencement thereof, and the Company shall have the right to participate in, and, to the extent the Company so desires, to assume control of the defense thereof with counsel mutually satisfactory to the Company and the Indemnitee, as the case may be; provided, however, that an Indemnitee shall have the right to retain its own counsel with the reasonable fees and expenses to be paid by the Company, if, in the reasonable opinion of counsel retained by the Indemnitee, the representation by such counsel of the Indemnitee and the Company would be inappropriate due to actual or potential differing interests between such Indemnitee and any other party represented by such counsel in such proceeding. The Indemnitee shall cooperate in all reasonable respects with the Company in connection with any negotiation or defense of such action or claim by the Company and shall furnish to the Company all information reasonably available to the Indemnitee which relates to such action or claim. The Company shall keep the Indemnitee fully apprised at all times as to the status of the defense or any settlement negotiations with respect thereto. The Company shall not be liable for any settlement of any action, claim or proceeding effected without its written consent, provided, however, that the Company shall not unreasonably withhold, delay or condition its consent. Following indemnification as provided for hereunder, the Company shall be subrogated to all rights of the Indemnitee with respect to all third parties, firms or corporations relating to the matter for which indemnification has been made. The failure to deliver written notice to the Company within a reasonable time of the commencement of any such action shall not relieve the Company of any liability to the Indemnitee under this Section 8, except to the extent that the Company is prejudiced in its ability to defend such action.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Competitive Technologies Inc)

In consideration of. the Buyer's ’s execution and delivery of the Transaction Documents and acquiring the Securities hereunder and in addition to all of the Company's ’s other obligations under the Transaction Documents, the Company shall defend, protect, indemnify and hold harmless the Buyer and all of its affiliates, shareholdersmembers, officers, directors, employees and direct or indirect investors employees, and any of the foregoing person's ’s agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "Indemnitees") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified Liabilities"), incurred by any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in the Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in the Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such Indemnitee and arising out of or resulting from the execution, delivery, performance or enforcement of the Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby, other than with respect to Indemnified Liabilities which directly and primarily result from (A) a breach of any of the Buyer’s representations and warranties, covenants or agreements contained in this Agreement, or (B) the gross negligence negligence, bad faith or willful misconduct of the Buyer or any other Indemnitee. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law. 9.

Appears in 1 contract

Samples: Common Stock Purchase Agreement

In consideration of. the each Buyer's execution and delivery of the Transaction Documents this Agreement and acquiring the Securities hereunder and in addition to all of the Company's other obligations under the Transaction Documentsthis Agreement, the Company shall defend, protect, indemnify and hold harmless the each Buyer and each other holder of Securities and all of its affiliates, shareholders, their officers, directors, employees and direct or indirect investors and any of the foregoing person's agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "IndemniteesBUYER INDEMNITEES") from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Buyer Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified LiabilitiesBUYER INDEMNIFIED LIABILITIES"), incurred by any Buyer Indemnitee (and shall advance the same) as a result of, or arising out of, or relating to (a) subject to Section 9(i), any misrepresentation or breach of any representation or warranty made by the Company in this Agreement, the Transaction Documents Certificate of Determination, the Warrants, the Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in this Agreement, the Transaction Documents Certificate of Determination, the Warrants or the Registration Rights Agreement or any other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or made against such Buyer Indemnitee and arising out of or resulting from the execution, delivery, performance or enforcement of the Transaction Documents this Agreement or any other certificateinstrument, instrument document or document contemplated hereby agreement executed pursuant hereto by any of the Buyer Indemnitees, any transaction financed or therebyto be financed in whole or in part, directly or indirectly, with the proceeds of the issuance of the Series A Preferred Stock and Warrants or the status of such Buyer or holder of any of the Securities as an investor in the Company. Promptly after receipt by a Buyer Indemnitee of notice of the commencement of any action or proceeding (including any governmental action or proceeding) involving the Buyer Indemnified Liabilities , such Buyer Indemnitee shall deliver to the Company a written notice of the commencement thereof, and the Company shall have the right to participate in, and, to the extent it so desires, jointly with any other than indemnifying party similarly noticed, to assume control of the defense thereof with counsel selected by the Company and reasonably satisfactory to the Buyer Indemnitee; provided, however, that a Buyer Indemnitee shall have the right to retain its own counsel with the fees and expenses to be paid by the Company, if, in the reasonable opinion of counsel retained by the Company, the representation by such counsel of the Buyer Indemnitee and the Company would be inappropriate due to actual differing interests between such Buyer Indemnitee and any other party represented by such counsel in such proceeding. The Buyer Indemnitee shall cooperate fully with the Company in connection with any negotiation or defense of any such action or claim by the Company and shall furnish to the Company all information reasonably available to the Buyer Indemnitee which relates to such action or claim. The Company shall keep the Buyer Indemnitee fully apprised at all times as to the status of the defense or any settlement negotiations with respect thereto. The Company shall not be liable for any settlement of any action, claim or proceeding effected without its written consent, provided, however, that the Company shall not unreasonably withhold, delay or condition its consent. The Company shall not, without the consent of the Buyer Indemnitee, consent to entry of any judgment or enter into any settlement or other compromise which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Buyer Indemnitee of a release from all liability in respect to such claim or litigation. Following indemnification as provided for hereunder, the Company shall be subrogated to all rights of the Buyer Indemnitee with respect to Indemnified Liabilities all third parties, firms or corporations relating to the matter for which directly and primarily result from indemnification has been made. The failure to deliver written notice to the gross negligence or willful misconduct Company within a reasonable time of the commencement of any such action shall not relieve it of any liability to the Buyer Indemnitee, except to the extent that the Company is prejudiced in its ability to defend such action. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Buyer Indemnified Liabilities which is permissible under applicable law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Cardiodynamics International Corp)

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