Common use of Indemnity Requirements Clause in Contracts

Indemnity Requirements. The indemnifying party’s obligations in this Section 17 are conditioned on the indemnified party (a) giving the indemnifying party prompt notice of any Covered Claim; (b) providing reasonable assistance and information to the indemnifying party, at the indemnifying party’s expense, for the defense of the Covered Claim; and (c) allowing the indemnifying party to control the defense of any Covered Claim, except that the indemnified party may engage counsel of its choice at its own expense and the indemnifying party will have no right to bind the indemnified party to terms other than the terms and conditions in this Agreement or admit liability by the indemnified party in any Covered Claim, or settlement thereof, without the indemnified party’s prior written consent, which will not to be unreasonably withheld or delayed.

Appears in 5 contracts

Samples: Master Subscription Agreement, Master Subscription Agreement, Master Subscription Agreement

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Indemnity Requirements. The indemnifying party’s obligations in this Section 17 are conditioned on the indemnified party (a) giving the indemnifying party prompt notice of any Covered Claimsuch claim or action; (b) providing reasonable assistance and information to the indemnifying party, at the indemnifying party’s expense, for the defense of the Covered Claimclaim; and (c) allowing the indemnifying party to control the defense of any Covered Claimapplicable claim or action, except that the indemnified party may engage counsel of its choice at its own expense and the indemnifying party will have no right to bind the indemnified party to terms other than the terms and conditions in this Agreement or admit liability by the indemnified party in any Covered Claimclaim, or settlement thereof, without the indemnified party’s prior written consent, which will not to be unreasonably withheld or delayed.

Appears in 3 contracts

Samples: Master Subscription Agreement, Master Subscription Agreement, Master Subscription Agreement

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Indemnity Requirements. The indemnifying party’s obligations in this Section 17 clause 14 are conditioned on the indemnified party party: (a) giving the indemnifying party prompt notice of any Covered Claimthe third party claim or action; (b) providing reasonable assistance and information to the indemnifying party, at the indemnifying party’s expense, party for the defense defence of the Covered Claimclaim; and (c) allowing the indemnifying party to control the defense defence of any Covered Claimapplicable claim or action, except that the indemnified party may elect to engage counsel of its choice own lawyers at its own expense and the indemnifying party will have no right to bind the indemnified party to terms other than the terms and conditions in this Agreement or admit liability by the indemnified party in any Covered Claim, claim or settlement thereof, without the indemnified party’s prior written consent, which will not to be unreasonably withheld or delayed.

Appears in 1 contract

Samples: Master Subscription Agreement

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