Indemnification by Colt Sample Clauses
The "Indemnification by Colt" clause requires Colt to compensate or protect the other party from losses, damages, or liabilities arising from specific actions or omissions attributable to Colt. Typically, this means that if a third party brings a claim against the other party due to Colt's breach of contract, negligence, or misconduct, Colt must cover the associated costs, including legal fees and settlements. This clause serves to allocate risk by ensuring that the party responsible for causing harm bears the financial consequences, thereby protecting the other party from unforeseen liabilities.
Indemnification by Colt. Colt shall pay or cause to be paid, shall be responsible for, and shall indemnify and hold harmless Buyer and the PLG Entities from and against, (i) the Colt Pre-Closing Taxes, (ii) the Parent’s Pro Rata Portion of all Transfer Taxes and (iii) all Taxes of Colt and any of its Subsidiaries for any Post-Closing Period.