Indemnification for the Cost Consequences of Current Tax Liability Imposed Upon Transmission Owner Sample Clauses

Indemnification for the Cost Consequences of Current Tax Liability Imposed Upon Transmission Owner. The Parties agree that any payments by MHVDC Connection Customer to Transmission Owner in contribution to the construction of any facilities under this Agreement may create a tax liability for Transmission Owner. To that end, MHVDC Connection Customer shall protect, indemnify, and hold harmless Transmission Owner from the cost consequences of any current tax liability imposed against Transmission Owner as the result of payments or property transfers made by MHVDC Connection Customer to Transmission Owner under this Agreement for Connection Facilities, any upgrades, or other facilities and equipment. All payments from MHVDC Connection Customer to Transmission Owner shall be calculated on a fully grossed-up basis to account for this tax liability.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs

Related to Indemnification for the Cost Consequences of Current Tax Liability Imposed Upon Transmission Owner

  • Intellectual Property Indemnification by Vendor Procedures Related to Indemnification. In the event that an indemnity obligation arises, Vendor shall pay all amounts set forth in Section 13 and 14 above (including any settlements) and – if it has accepted its indemnity obligation without qualification – control the legal defense to such claim or cause of action, including without limitation attorney selection, strategy, discovery, trial, appeal, and settlement, and TIPS shall, at Vendor’s cost and expense (with respect to reasonable out of pocket costs and expenses incurred by TIPS which shall be reimbursed to TIPS by Vendor), provide all commercially reasonable assistance requested by Vendor. In controlling any defense, Vendor shall ensure that all assertions of governmental immunity and all applicable pleas and defenses shall be promptly asserted.

Time is Money Join Law Insider Premium to draft better contracts faster.