Common use of Indemnity of Partnership Clause in Contracts

Indemnity of Partnership. ‌ The Partnership GP hereby indemnifies and holds harmless the Partnership and each Limited Partner (including former Limited Partners) from and against all costs, expenses, damages or liabilities suffered or incurred by the Partnership or such Limited Partners by reason of an act of wilful misconduct, negligence by the Partnership GP or of any act or omission not believed by the Partnership GP in good faith to be within the scope of the authority conferred on the Partnership GP by this Agreement.

Indemnity of Partnership. ‌ The Partnership GP hereby indemnifies and holds harmless the Partnership and each Limited Partner (including former Limited Partners) from and against all costs, expenses, damages or liabilities suffered or incurred by the Partnership or such Limited Partners by reason of an act of wilful misconduct, negligence by the Partnership GP or of any act or omission not believed by the Partnership GP in good faith to be within the scope of the authority conferred on the Partnership GP by this Agreement.