INDEMNIFICATION OF THE JOINT VENTURERS. 7.01 The Parties to this Agreement shall have no liability to the other for any loss suffered which arises out of any action or inaction if, in good faith, it is determined that such course of conduct was in the best interests of the JV and such course of conduct did not constitute negligence or misconduct. The Parties shall be indemnified by the others against losses, judgments, liabilities, expenses and amounts paid in settlement of any claims sustained by it in connection with the JV.
Appears in 4 contracts
Samples: Joint Venture Agreement (Arcis Resources Corp), Joint Venture Agreement (Arcis Resources Corp), Joint Venture Agreement (Arcis Resources Corp)
