Indemnity of Investors. Each Investor, severally, agrees to indemnify and hold harmless the Company and each other person, if any, who controls the Company within the meaning of Section 15 of the Act, against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all expenses reasonably incurred in investigating, preparing or defending against any litigation commenced or threatened or any claim whatsoever) arising out of or based upon any false representation or warranty or breach or failure by such Investor to comply with any covenant or agreement made by such Investor herein or in any other document furnished by the Investor to any of the foregoing in connection with this transaction. The Company hereby acknowledges that no Investor shall have any liability for a breach by any other Investor of any representation, warranty or agreement hereunder.
Appears in 4 contracts
Samples: Preferred Stock Subscription Agreement (International Dispensing Corp), Preferred Stock Subscription Agreement (International Dispensing Corp), Preferred Stock Subscription Agreement (Simpson Louis A)
