Common use of Indemnification of Escrow Agent; Expenses Clause in Contracts

Indemnification of Escrow Agent; Expenses. The Escrow Agent shall not be responsible for initiating any action, claim or proceeding hereunder. The Purchasers and the Seller shall jointly and severally indemnify the Escrow Agent (and his heirs and legal representatives) and hold him and them harmless from and against, any and all losses, damages, liability and expenses, including attorney’s fees, incurred by the Escrow Agent in connection with the performance of his duties hereunder, including but not limited to attorneys’ fees and other costs and expenses of defending against any claim of liability (except liability arising out of the Escrow Agent’s fraud, willful default or gross negligence) arising out of this Agreement. The Escrow Agent shall not be obligated to take any legal or other action hereunder which might in his judgment involve or cause him to incur any expense or liability unless he shall have been furnished with acceptable indemnification.

Appears in 2 contracts

Samples: Convertible Note Purchase and Conversion Agreement (Uplift Nutrition, Inc.), Convertible Note Purchase and Conversion Agreement (Uplift Nutrition, Inc.)

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Indemnification of Escrow Agent; Expenses. The Escrow Agent shall not be responsible for initiating any action, claim or proceeding hereunder. The Purchasers Purchaser and the Seller Sellers shall jointly and severally indemnify the Escrow Agent (and his her heirs and legal representatives) and hold him her and them harmless from and against, any and all losses, damages, liability and expenses, including attorney’s attorneys fees, incurred by the Escrow Agent in connection with the performance of his duties hereunder, including but not limited to attorneys’ fees and other costs and expenses of defending against any claim of liability (except liability arising out of the Escrow Agent’s fraud, willful default or gross negligence) arising out of this Agreement. The Escrow Agent shall not be obligated to take any legal or other action hereunder which might in his judgment involve or cause him to incur any expense or liability unless he shall have been furnished with acceptable indemnification.

Appears in 1 contract

Samples: Stock Purchase Agreement (Uplift Nutrition, Inc.)

Indemnification of Escrow Agent; Expenses. The Escrow Agent shall not be responsible for initiating any action, claim or proceeding hereunder. The Purchasers Purchaser and the Seller Sellers shall jointly and severally indemnify the Escrow Agent (and his heirs and legal representatives) and hold him and them harmless from and against, any and all losses, damages, liability and expenses, including attorney’s attorneys fees, incurred by the Escrow Agent in connection with the performance of his duties hereunder, including but not limited to attorneys’ fees and other costs and expenses of defending against any claim of liability (except liability arising out of the Escrow Agent’s fraud, willful default or gross negligence) arising out of this Agreement. The Escrow Agent shall not be obligated to take any legal or other action hereunder which might in his judgment involve or cause him to incur any expense or liability unless he shall have been furnished with acceptable indemnification.

Appears in 1 contract

Samples: Stock Purchase Agreement (Uplift Nutrition, Inc.)

Indemnification of Escrow Agent; Expenses. The Escrow Agent shall not be responsible for initiating any action, claim or proceeding hereunder. The Purchasers and the Seller shall jointly and severally indemnify the Escrow Agent (and his heirs and legal representatives) and hold him and them harmless from and against, any and all losses, damages, liability and expenses, including attorney’s attorneys fees, incurred by the Escrow Agent in connection with the performance of his duties hereunder, including but not limited to attorneys’ fees and other costs and expenses of defending against any claim of liability (except liability arising out of the Escrow Agent’s fraud, willful default or gross negligence) arising out of this Agreement. The Escrow Agent shall not be obligated to take any legal or other action hereunder which might might, in his judgment judgment, involve or cause him to incur any expense or liability unless he shall have been furnished with acceptable indemnification.

Appears in 1 contract

Samples: Stock Purchase Agreement (Tuorto William L)

Indemnification of Escrow Agent; Expenses. The Escrow Agent shall not be responsible for initiating any action, claim or proceeding hereunder. The Purchasers Purchaser and the Seller shall jointly and severally indemnify the Escrow Agent (and his heirs and legal representatives) and hold him and them harmless from and against, any and all losses, damages, liability and expenses, including attorney’s attorneys fees, incurred by the Escrow Agent in connection with the performance of his duties hereunder, including but not limited to attorneys’ fees and other costs and expenses of defending against any claim of liability (except liability arising out of the Escrow Agent’s fraud, willful default or gross negligence) arising out of this Agreement. The Escrow Agent shall not be obligated to take any legal or other action hereunder which might might, in his judgment judgment, involve or cause him to incur any expense or liability unless he shall have been furnished with acceptable indemnification.

Appears in 1 contract

Samples: Stock Purchase Agreement (Tsingyuan Brewery Ltd.)

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Indemnification of Escrow Agent; Expenses. The Escrow Agent shall not be responsible for initiating any action, claim or proceeding hereunder. The Purchasers QRSciences and the Seller shall jointly and severally indemnify the Escrow Agent (and his his/her heirs and legal representatives) and hold him him/her and them harmless from and against, any and all losses, damages, liability and expenses, including attorney’s attorneys fees, incurred by the Escrow Agent in connection with the performance of his his/her duties hereunder, including but not limited to attorneys’ fees and other costs and expenses of defending against any claim of liability (except liability arising out of the Escrow Agent’s fraud, willful default or gross negligence) arising out of this Agreement. The Escrow Agent shall not be obligated to take any legal or other action hereunder which might might, in his judgment his/her judgment, involve or cause him him/her to incur any expense or liability unless s/he shall have been furnished with acceptable indemnification.

Appears in 1 contract

Samples: Stock Purchase Agreement (Qrsciences Holdings LTD)

Indemnification of Escrow Agent; Expenses. The Escrow Agent shall not be responsible for initiating any action, claim or proceeding hereunder. The Purchasers Xxxxx and the Seller Changan Shareholders shall jointly and severally indemnify the Escrow Agent (and his heirs and legal representatives) and hold him and them harmless from and against, any and all losses, damages, liability and expenses, including attorney’s attorneys fees, incurred by the Escrow Agent in connection with the performance of his duties hereunder, including but not limited to attorneys’ fees and other costs and expenses of defending against any claim of liability (except liability arising out of the Escrow Agent’s fraud, willful default misconduct or gross negligence) arising out of this Agreement. The Escrow Agent shall not be obligated to take any legal or other action hereunder which might in his its judgment involve or cause him to incur any expense or liability unless he shall have been furnished with acceptable indemnification.

Appears in 1 contract

Samples: Indemnity Agreement (Gold Standard Inc)

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